SECURITIES (Tables)
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9 Months Ended |
Sep. 30, 2016 |
Investments, Debt and Equity Securities [Abstract] |
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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, 2016 and December 31, 2015 are summarized as follows: | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Market | | | | Cost | | Gain | | Loss | | Value | | | | (In Thousands) | | September 30, 2016 | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | 35,999 | | $ | 859 | | $ | - | | $ | 36,858 | | Mortgage-backed securities | | | 161,686 | | | 3,776 | | | (31) | | | 165,431 | | State and municipal securities | | | 137,649 | | | 2,512 | | | (36) | | | 140,125 | | Corporate debt | | | 8,967 | | | 36 | | | - | | | 9,003 | | Total | | | 344,301 | | | 7,183 | | | (67) | | | 351,417 | | Securities Held to Maturity | | | | | | | | | | | | | | Mortgage-backed securities | | | 20,214 | | | 604 | | | - | | | 20,818 | | State and municipal securities | | | 5,639 | | | 455 | | | - | | | 6,094 | | Total | | $ | 25,853 | | $ | 1,059 | | $ | - | | $ | 26,912 | | | | | | | | | | | | | | | | December 31, 2015 | | | | | | | | | | | | | | Securities Available for Sale | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | 44,581 | | $ | 569 | | $ | (141) | | $ | 45,009 | | Mortgage-backed securities | | | 135,363 | | | 1,945 | | | (354) | | | 136,954 | | State and municipal securities | | | 143,403 | | | 2,731 | | | (101) | | | 146,033 | | Corporate debt | | | 14,902 | | | 67 | | | (27) | | | 14,942 | | Total | | | 338,249 | | | 5,312 | | | (623) | | | 342,938 | | Securities Held to Maturity | | | | | | | | | | | | | | Mortgage-backed securities | | | 21,666 | | | 368 | | | (332) | | | 21,702 | | State and municipal securities | | | 5,760 | | | 449 | | | (1) | | | 6,208 | | Total | | $ | 27,426 | | $ | 817 | | $ | (333) | | $ | 27,910 | |
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Amortized Cost and Fair Value of Securities |
The amortized cost and fair value of debt securities as of September 30, 2016 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, 2016 | | December 31, 2015 | | | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | | | | (In thousands) | | Debt securities available for sale | | | | | | | | | | | | | | Due within one year | | $ | 24,263 | | $ | 24,405 | | $ | 16,770 | | $ | 16,868 | | Due from one to five years | | | 141,696 | | | 144,492 | | | 153,880 | | | 156,311 | | Due from five to ten years | | | 16,656 | | | 17,089 | | | 32,236 | | | 32,805 | | Mortgage-backed securities | | | 161,686 | | | 165,431 | | | 135,363 | | | 136,954 | | | | $ | 344,301 | | $ | 351,417 | | $ | 338,249 | | $ | 342,938 | | | | | | | | | | | | | | | | Debt securities held to maturity | | | | | | | | | | | | | | Due from five to ten years | | $ | 741 | | $ | 781 | | $ | 627 | | $ | 659 | | Due after ten years | | | 4,898 | | | 5,313 | | | 5,133 | | | 5,549 | | Mortgage-backed securities | | | 20,214 | | | 20,818 | | | 21,666 | | | 21,702 | | | | $ | 25,853 | | $ | 26,912 | | $ | 27,426 | | $ | 27,910 | |
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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, 2016 | | | | | | | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | Mortgage-backed securities | | | (31) | | | 15,624 | | | - | | | - | | | (31) | | | 15,624 | | State and municipal securities | | | (29) | | | 9,161 | | | (7) | | | 1,125 | | | (36) | | | 10,286 | | Corporate debt | | | - | | | - | | | - | | | - | | | - | | | - | | Total | | $ | (60) | | $ | 24,785 | | $ | (7) | | $ | 1,125 | | $ | (67) | | $ | 25,910 | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | | | | | | | | | | | | | | | | | | | | U.S. Treasury and government sponsored agencies | | $ | (141) | | $ | 3,886 | | $ | - | | $ | - | | $ | (141) | | $ | 3,886 | | Mortgage-backed securities | | | (354) | | | 56,609 | | | (332) | | | 11,712 | | | (686) | | | 68,321 | | State and municipal securities | | | (55) | | | 15,464 | | | (47) | | | 4,531 | | | (102) | | | 19,995 | | Corporate debt | | | (27) | | | 2,961 | | | - | | | - | | | (27) | | | 2,961 | | Total | | $ | (577) | | $ | 78,920 | | $ | (379) | | $ | 16,243 | | $ | (956) | | $ | 95,163 | |
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