Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and related market value of investment securities available-for-sale
Investment Portfolio Composition. The amortized cost and related market value of investment securities available-for-sale and
held-to-maturity were as follows:
June 30, 2016 December 31, 2015
Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market
Cost Gains Losses Value Cost Gain Losses Value
Available for Sale
U.S. Government Treasury $ 272,847 $ 1,672 $ 1 $ 274,518 $ 250,458 $ 101 $ 213 $ 250,346
U.S. Government Agency 112,386 618 86 112,918 101,730 357 263 101,824
States and Political Subdivisions 87,391 498 2 87,887 88,358 103 99 88,362
Mortgage-Backed Securities 1,385 139 - 1,524 1,742 159 - 1,901
Equity Securities(1) 9,001 - - 9,001 8,595 - - 8,595
Total $ 483,010 $ 2,927 $ 89 $ 485,848 $ 450,883 $ 720 $ 575 $ 451,028
Held to Maturity
U.S. Government Treasury $ 144,453 $ 890 $ - $ 145,343 $ 134,554 $ 45 $ 160 $ 134,439
U.S. Government Agency 8,010 8 - 8,018 10,043 7 5 10,045
States and Political Subdivisions 11,384 110 - 11,494 15,693 38 7 15,724
Mortgage-Backed Securities 40,627 207 94 40,740 27,602 4 407 27,199
Total $ 204,474 $ 1,215 $ 94 $ 205,595 $ 187,892 $ 94 $ 579 $ 187,407
Total Investment Securities $ 687,484 $ 4,142 $ 183 $ 691,443 $ 638,775 $ 814 $ 1,154 $ 638,435
Schedule of investment securities with maturity distribution based on contractual maturities
Available for Sale Held to Maturity
Amortized   Market   Amortized   Market
(Dollars in Thousands) Cost Value Cost Value
Due in one year or less $ 107,601   $ 107,815   $ 82,698   $ 82,851
Due after one through five years   283,434     285,559     81,149     82,004
Mortgage-Backed Securities 1,385 1,524 40,627 40,740
U.S. Government Agency   81,589     81,949     -     -
Equity Securities   9,001     9,001     -     -
Total $ 483,010   $ 485,848   $ 204,474   $ 205,595
Schedule of investment securities with continuous unrealized loss position
  Less Than Greater Than
12 Months 12 Months Total
Market Unrealized Market Unrealized Market Unrealized
(Dollars in Thousands) Value Losses Value Losses Value Losses
June 30, 2016
Available for Sale
U.S. Government Treasury $ 9,955   $ 1   $ -   $ -   $ 9,955   $ 1
U.S. Government Agency 13,815 52 10,505 34 24,320 86
States and Political Subdivisions 3,135   2   302   -   3,437   2
Total 26,905   55   10,807   34   37,712   89
Held to Maturity
Mortgage-Backed Securities   1,189     1     8,006     93     9,195     94
Total $ 1,189   $ 1   $ 8,006   $ 93   $ 9,195   $ 94
December 31, 2015
Available for Sale 
U.S. Government Treasury $ 150,061   $ 213   $ -   $ -   $ 150,061   $ 213
U.S. Government Agency 43,508 200 9,644 63 53,152 263
States and Political Subdivisions   39,608     86     5,066     13     44,674     99
Total 233,177   499   14,710   76   247,887   575
Held to Maturity
U.S. Government Treasury   92,339     160     -     -     92,339     160
U.S. Government Agency 5,006 5 - - 5,006 5
States and Political Subdivisions 3,791 7 - - 3,791 7
Mortgage-Backed Securities 13,267 185 11,889 222 22,156 407
Total $ 114,403   $ 357   $ 11,889   $ 222   $ 126,292   $ 579