Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v3.3.0.814
SECURITIES (Tables)
9 Months Ended
Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Value of Available for Sale And Held to Maturity Securities
The amortized cost and fair value of available-for-sale and held-to-maturity securities at September 30, 2015 and December 31, 2014 are summarized as follows:
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Market
 
 
 
Cost
 
Gain
 
Loss
 
Value
 
 
 
(In Thousands)
 
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
50,508
 
$
1,084
 
$
(71)
 
$
51,521
 
Mortgage-backed securities
 
 
89,722
 
 
2,845
 
 
(46)
 
 
92,521
 
State and municipal securities
 
 
143,664
 
 
3,052
 
 
(92)
 
 
146,624
 
Corporate debt
 
 
15,884
 
 
116
 
 
-
 
 
16,000
 
Total
 
 
299,778
 
 
7,097
 
 
(209)
 
 
306,666
 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
 
22,211
 
 
382
 
 
(257)
 
 
22,336
 
State and municipal securities
 
 
5,758
 
 
423
 
 
(6)
 
 
6,175
 
Total
 
$
27,969
 
$
805
 
$
(263)
 
$
28,511
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities Available for Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
50,363
 
$
775
 
$
-
 
$
51,138
 
Mortgage-backed securities
 
 
92,439
 
 
3,095
 
 
(11)
 
 
95,523
 
State and municipal securities
 
 
132,780
 
 
3,211
 
 
(328)
 
 
135,663
 
Corporate debt
 
 
15,821
 
 
165
 
 
-
 
 
15,986
 
Total
 
 
291,403
 
 
7,246
 
 
(339)
 
 
298,310
 
Securities Held to Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
 
23,804
 
 
449
 
 
(320)
 
 
23,933
 
State and municipal securities
 
 
5,551
 
 
490
 
 
-
 
 
6,041
 
Total
 
$
29,355
 
$
939
 
$
(320)
 
$
29,974
 
Amortized Cost and Fair Value of Securities
The amortized cost and fair value of debt securities as of September 30, 2015 by contractual maturity are shown below. Actual maturities may differ from contractual maturities of mortgage-backed securities since the mortgages underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories along with the other categories of debt securities.
 
 
 
September 30, 2015
 
December 31, 2014
 
 
 
Amortized
 
 
 
Amortized
 
 
 
 
 
Cost
 
Fair Value
 
Cost
 
Fair Value
 
 
 
(In thousands)
 
Debt securities available for sale
 
 
 
 
 
 
 
 
 
 
 
 
 
Less than one year
 
$
21,289
 
$
21,450
 
$
16,944
 
$
17,246
 
One year to five years
 
 
145,941
 
 
148,960
 
 
121,591
 
 
123,962
 
Five years to ten years
 
 
42,009
 
 
42,891
 
 
60,079
 
 
61,221
 
More than ten years
 
 
817
 
 
844
 
 
350
 
 
358
 
Mortgage-backed securities
 
 
89,722
 
 
92,521
 
 
92,439
 
 
95,523
 
 
 
$
299,778
 
$
306,666
 
$
291,403
 
$
298,310
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt securities held to maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
Due from five to ten years
 
$
627
 
$
653
 
$
298
 
$
325
 
Due after ten years
 
 
5,131
 
 
5,522
 
 
5,253
 
 
5,716
 
Mortgage-backed securities
 
 
22,211
 
 
22,336
 
 
23,804
 
 
23,933
 
 
 
$
27,969
 
$
28,511
 
$
29,355
 
$
29,974
 
Investment Securities Continuous Unrealized Loss Position
 
 
Less Than Twelve Months
 
Twelve Months or More
 
Total
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
 
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
 
 
(In Thousands)
 
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
(71)
 
$
3,939
 
$
-
 
$
-
 
$
(71)
 
$
3,939
 
Mortgage-backed securities
 
 
(44)
 
 
2,625
 
 
(259)
 
 
13,441
 
 
(303)
 
 
16,066
 
State and municipal securities
 
 
(53)
 
 
12,651
 
 
(45)
 
 
4,403
 
 
(98)
 
 
17,054
 
Corporate debt
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Total
 
$
(168)
 
$
19,215
 
$
(304)
 
$
17,844
 
$
(472)
 
$
37,059
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
$
-
 
Mortgage-backed securities
 
 
-
 
 
-
 
 
(331)
 
 
17,751
 
 
(331)
 
 
17,751
 
State and municipal securities
 
 
(162)
 
 
19,945
 
 
(166)
 
 
10,820
 
 
(328)
 
 
30,765
 
Corporate debt
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Total
 
$
(162)
 
$
19,945
 
$
(497)
 
$
28,571
 
$
(659)
 
$
48,516