Securities (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| 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 loss were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities and obligations of U.S.government
agencies
|
|
$ |
37,406 |
|
|
$ |
117 |
|
|
$ |
(77 |
) |
|
$ |
37,446 |
|
|
Obligations of states and political subdivisions
|
|
|
92,177 |
|
|
|
3,395 |
|
|
|
(574 |
) |
|
|
94,998 |
|
|
Mortgage-back securities in government sponsored entities
|
|
|
62,756 |
|
|
|
483 |
|
|
|
(597 |
) |
|
|
62,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
192,339 |
|
|
|
3,995 |
|
|
|
(1,248 |
) |
|
|
195,086 |
|
|
Equity securities in financial institutions
|
|
|
481 |
|
|
|
297 |
|
|
|
— |
|
|
|
778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
192,820 |
|
|
$ |
4,292 |
|
|
$ |
(1,248 |
) |
|
$ |
195,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair Value |
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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-back securities in government sponsored entities
|
|
|
62,135 |
|
|
|
681 |
|
|
|
(243 |
) |
|
|
62,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
190,382 |
|
|
|
5,714 |
|
|
|
(434 |
) |
|
|
195,662 |
|
|
Equity securities in financial institutions
|
|
|
481 |
|
|
|
106 |
|
|
|
— |
|
|
|
587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
190,863 |
|
|
$ |
5,820 |
|
|
$ |
(434 |
) |
|
$ |
196,249 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fair Value of Securities by Contractual Maturity |
The amortized cost and fair value of securities at year end 2016 by
contractual maturity were as follows. Securities not due at a
single maturity date, primarily mortgage-backed securities, are
shown separately.
|
|
|
|
|
|
|
|
|
| |
|
Available for sale |
|
| |
|
Amortized Cost |
|
|
Fair Value |
|
|
Due in one year or less
|
|
$ |
9,171 |
|
|
$ |
9,172 |
|
|
Due from one to five years
|
|
|
28,862 |
|
|
|
29,002 |
|
|
Due from five to ten years
|
|
|
31,047 |
|
|
|
32,692 |
|
|
Due after ten years
|
|
|
60,503 |
|
|
|
61,578 |
|
|
Mortgage-backed securities in government sponsored entities
|
|
|
62,756 |
|
|
|
62,642 |
|
|
Equity securities in financial institutions
|
|
|
481 |
|
|
|
778 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
192,820 |
|
|
$ |
195,864 |
|
|
|
|
|
|
|
|
|
|
|
| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Sale proceeds
|
|
$ |
4,349 |
|
|
$ |
— |
|
|
$ |
18,088 |
|
|
Gross realized gains
|
|
|
18 |
|
|
|
— |
|
|
|
113 |
|
|
Gross realized losses
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
Gains (losses) from securities called or settled by the issuer
|
|
|
1 |
|
|
|
(18 |
) |
|
|
1 |
|
|
| Debt Securities with Unrealized Losses Not Recognized in Income |
Debt securities with unrealized losses at year end 2016 and 2015
not recognized in income are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2016 |
|
12 Months or less |
|
|
More than 12 months |
|
|
Total |
|
| 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
|
|
$ |
13,271 |
|
|
$ |
(61 |
) |
|
$ |
893 |
|
|
$ |
(16 |
) |
|
$ |
14,164 |
|
|
$ |
(77 |
) |
|
Obligations of states and political subdivisions
|
|
|
17,167 |
|
|
|
(558 |
) |
|
|
519 |
|
|
|
(16 |
) |
|
|
17,686 |
|
|
|
(574 |
) |
|
Mortgage-backed securities in gov’t sponsored entities
|
|
|
35,453 |
|
|
|
(566 |
) |
|
|
2,849 |
|
|
|
(31 |
) |
|
|
38,302 |
|
|
|
(597 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired
|
|
$ |
65,891 |
|
|
$ |
(1,185 |
) |
|
$ |
4,261 |
|
|
$ |
(63 |
) |
|
$ |
70,152 |
|
|
$ |
(1,248 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2015 |
|
12 Months or
less |
|
|
More than 12 months |
|
|
Total |
|
| 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 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired
|
|
$ |
55,659 |
|
|
$ |
(304 |
) |
|
$ |
7,642 |
|
|
$ |
(130 |
) |
|
$ |
63,301 |
|
|
$ |
(434 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|