Securities (Tables)

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:


September 30, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value

U.S. Treasury securities and obligations of U.S. government agencies	$	39,271	$	234	$	(13	)	$	39,492
Obligations of states and political subdivisions		87,971		4,551		(143	)		92,379
Mortgage-backed securities in government sponsored entities		65,192		1,079		(74	)		66,197

Total debt securities		192,434		5,864		(230	)		198,068

Equity securities in financial institutions		481		106		—			587

Total	$	192,915	$	5,970	$	(230	)	$	198,655


December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities and obligations of U.S. government agencies	$	42,910	$	115	$	(123	)	$	42,902
Obligations of states and political subdivisions		83,215		5,112		(306	)		88,021
Mortgage-backed securities in government sponsored entities		65,646		976		(180	)		66,442

Total debt securities		191,771		6,203		(609	)		197,365

Equity securities in financial institutions		481		59		—			540

Total	$	192,252	$	6,262	$	(609	)	$	197,905

Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at September 30, 2015, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately.


Available for sale	Amortized Cost		Fair Value
Due in one year or less	$	4,716	$	4,731
Due after one year through five years		26,519		26,734
Due after five years through ten years		30,616		32,110
Due after ten years		65,391		68,296
Mortgage-backed securities		65,192		66,197
Equity securities		481		587

Total securities available for sale	$	192,915	$	198,655

Proceeds from Sales of Securities, Gross Realized Gains and Losses

Proceeds from sales of securities, gross realized gains and gross realized losses were as follows.


	Three months ended					Nine months ended
	September 30,					September 30,
	2015			2014		2015			2014
Sale proceeds	$	—		$	—	$	—		$	18,088
Gross realized gains		—			—		—			113
Gross realized losses		—			—		—			—
Gains (losses) from securities called or settled by the issuer		(5	)		1		(5	)		1

Securities with Unrealized Losses Not Recognized in Income

Securities with unrealized losses at September 30, 2015 and December 31, 2014 not recognized in income are as follows:


September 30, 2015	12 Months or less					More than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
Description of Securities	Value		Loss			Value		Loss			Value		Loss

U.S. Treasury securities and obligations of U.S. government agencies	$	2,037	$	—		$	1,192	$	(13	)	$	3,229	$	(13	)
Obligations of states and political subdivisions		7,866		(93	)		1,466		(50	)		9,332		(143	)
Mortgage-backed securities in gov’t sponsored entities		6,156		(37	)		7,649		(37	)		13,805		(74	)


Total temporarily impaired	$	16,059	$	(130	)	$	10,307	$	(100	)	$	26,366	$	(230	)


December 31, 2014	12 Months or less					More than 12 months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
Description of Securities	Value		Loss			Value		Loss			Value		Loss

U.S. Treasury securities and obligations of U.S. government agencies	$	7,664	$	(17	)	$	11,888	$	(106	)	$	19,552	$	(123	)
Obligations of states and political subdivisions		853		(11	)		5,647		(295	)		6,500		(306	)
Mortgage-backed securities in gov’t sponsored entities		12,289		(29	)		11,492		(151	)		23,781		(180	)


Total temporarily impaired	$	20,806	$	(57	)	$	29,027	$	(552	)	$	49,833	$	(609	)