Securities (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Investments, Debt and Equity Securities [Abstract] |
|
| Available for Sale Securities |
The amortized cost and fair value of available for sale securities
and the related gross unrealized gains and losses recognized in
accumulated other comprehensive income (loss) were as follows:
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September 30, 2016
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
U.S. Treasury securities and obligations of U.S. government
agencies
|
|
$ |
37,811 |
|
|
$ |
256 |
|
|
$ |
(18 |
) |
|
$ |
38,049 |
|
|
Obligations of states and political subdivisions
|
|
|
89,967 |
|
|
|
6,299 |
|
|
|
(39 |
) |
|
|
96,227 |
|
|
Mortgage-backed securities in government sponsored entities
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|
|
65,049 |
|
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|
957 |
|
|
|
(29 |
) |
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|
65,977 |
|
|
|
|
|
|
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|
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|
|
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Total debt securities
|
|
|
192,827 |
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|
|
7,512 |
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|
(86 |
) |
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|
200,253 |
|
|
|
|
|
|
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Equity securities in financial institutions
|
|
|
481 |
|
|
|
233 |
|
|
|
— |
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|
714 |
|
|
|
|
|
|
|
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|
|
|
|
|
|
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|
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Total
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|
$ |
193,308 |
|
|
$ |
7,745 |
|
|
$ |
(86 |
) |
|
$ |
200,967 |
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December 31, 2015
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
U.S. Treasury securities and obligations of U.S. government
agencies
|
|
$ |
40,992 |
|
|
$ |
74 |
|
|
$ |
(129 |
) |
|
$ |
40,937 |
|
|
Obligations of states and political subdivisions
|
|
|
87,255 |
|
|
|
4,959 |
|
|
|
(62 |
) |
|
|
92,152 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
62,135 |
|
|
|
681 |
|
|
|
(243 |
) |
|
|
62,573 |
|
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Total debt securities
|
|
|
190,382 |
|
|
|
5,714 |
|
|
|
(434 |
) |
|
|
195,662 |
|
|
|
|
|
|
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Equity securities in financial institutions
|
|
|
481 |
|
|
|
106 |
|
|
|
— |
|
|
|
587 |
|
|
|
|
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|
|
|
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|
|
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Total
|
|
$ |
190,863 |
|
|
$ |
5,820 |
|
|
$ |
(434 |
) |
|
$ |
196,249 |
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| Fair Value of Securities by Contractual Maturity |
The amortized cost and fair value of securities at September 30,
2016, 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.
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| Available for sale |
|
Amortized Cost |
|
|
Fair Value |
|
|
Due in one year or less
|
|
$ |
8,697 |
|
|
$ |
8,710 |
|
|
Due after one year through five years
|
|
|
27,208 |
|
|
|
27,523 |
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Due after five years through ten years
|
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|
28,533 |
|
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|
30,440 |
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Due after ten years
|
|
|
63,340 |
|
|
|
67,603 |
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|
Mortgage-backed securities
|
|
|
65,049 |
|
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|
65,977 |
|
|
Equity securities
|
|
|
481 |
|
|
|
714 |
|
|
|
|
|
|
|
|
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Total securities available for sale
|
|
$ |
193,308 |
|
|
$ |
200,967 |
|
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| 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:
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2016 |
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2015 |
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2016 |
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2015 |
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Sale proceeds
|
|
$ |
2,385 |
|
|
$ |
— |
|
|
$ |
4,379 |
|
|
$ |
— |
|
|
Gross realized gains
|
|
|
18 |
|
|
|
— |
|
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|
18 |
|
|
|
— |
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Gross realized losses
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
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Gains (losses) from securities called or settled by the issuer
|
|
|
— |
|
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|
(5 |
) |
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2 |
|
|
|
(5 |
) |
|
| Securities with Unrealized Losses Not Recognized in Income |
Securities with unrealized losses at September 30, 2016 and
December 31, 2015 not recognized in income were as follows:
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September 30, 2016
|
|
12 Months or less |
|
|
More than 12 months |
|
|
Total |
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|
Description of Securities
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
|
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government
agencies
|
|
$ |
2,998 |
|
|
$ |
(2 |
) |
|
$ |
944 |
|
|
$ |
(16 |
) |
|
$ |
3,942 |
|
|
$ |
(18 |
) |
|
Obligations of states and political subdivisions
|
|
|
3,101 |
|
|
|
(26 |
) |
|
|
526 |
|
|
|
(13 |
) |
|
|
3,627 |
|
|
|
(39 |
) |
|
Mortgage-backed securities in gov’t sponsored entities
|
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|
8,511 |
|
|
|
(16 |
) |
|
|
1,240 |
|
|
|
(13 |
) |
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|
9,751 |
|
|
|
(29 |
) |
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Total temporarily impaired
|
|
$ |
14,610 |
|
|
$ |
(44 |
) |
|
$ |
2,710 |
|
|
$ |
(42 |
) |
|
$ |
17,320 |
|
|
$ |
(86 |
) |
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December 31, 2015
|
|
12 Months or less |
|
|
More than 12 months |
|
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Total |
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|
Description of Securities
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
Fair
Value |
|
|
Unrealized
Loss |
|
|
|
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S. government
agencies
|
|
$ |
25,464 |
|
|
$ |
(112 |
) |
|
$ |
1,132 |
|
|
$ |
(17 |
) |
|
$ |
26,596 |
|
|
$ |
(129 |
) |
|
Obligations of states and political subdivisions
|
|
|
2,932 |
|
|
|
(20 |
) |
|
|
1,469 |
|
|
|
(42 |
) |
|
|
4,401 |
|
|
|
(62 |
) |
|
Mortgage-backed securities in gov’t sponsored entities
|
|
|
27,263 |
|
|
|
(172 |
) |
|
|
5,041 |
|
|
|
(71 |
) |
|
|
32,304 |
|
|
|
(243 |
) |
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|
|
|
|
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|
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Total temporarily impaired
|
|
$ |
55,659 |
|
|
$ |
(304 |
) |
|
$ |
7,642 |
|
|
$ |
(130 |
) |
|
$ |
63,301 |
|
|
$ |
(434 |
) |
|
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