Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES (Tables)

v3.6.0.2
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and related market value of investment securities available-for-sale
Note 2
INVESTMENT SECURITIES
Investment Portfolio Composition. The amortized cost and related market value of investment securities available-for-sale and
held-to-maturity were as follows:
2016 2015
Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market
(Dollars in Thousands) Cost Gains Losses Value Cost Gain Losses Value
Available for Sale
U.S. Government Treasury $ 286,867 $ 262 $ 851 $ 286,278 $ 250,458 $ 101 $ 213 $ 250,346
U.S. Government Agency 131,489 495 344 131,640 101,730 357 263 101,824
States and Political Subdivisions 95,197 23 381 94,839 88,358 103 99 88,362
Mortgage-Backed Securities 1,312 118 - 1,430 1,742 159 - 1,901
Equity Securities(1) 8,547 - - 8,547 8,595 - - 8,595
Total $ 523,412 $ 898 $ 1,576 $ 522,734 $ 450,883 $ 720 $ 575 $ 451,028
Held to Maturity
U.S. Government Treasury $ 119,131 $ 107 $ 81 $ 119,157 $ 134,554 $ 45 $ 160 $ 134,439
U.S. Government Agency - - - - 10,043 7 5 10,045
States and Political Subdivisions 8,175 1 38 8,138 15,693 38 7 15,724
Mortgage-Backed Securities 50,059 29 637 49,451 27,602 4 407 27,199
Total $ 177,365 $ 137 $ 756 $ 176,746 $ 187,892 $ 94 $ 579 $ 187,407
Total Investment Securities $ 700,777 $ 1,035 $ 2,332 $ 699,480 $ 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 $ 164,850   $ 165,051   $ 41,705   $ 41,730
Due after one through five years   259,324     257,991     85,601     85,566
Mortgage-Backed Securities 1,312 1,430 50,059 49,450
U.S. Government Agency   89,379     89,715     -     -
Equity Securities   8,547     8,547     -     -
Total $ 523,412   $ 522,734   $ 177,365   $ 176,746
Schedule of investment securities with continuous unrealized loss position
Less Than 12 Months Greater Than 12 Months Total
Market Unrealized Market Unrealized Market Unrealized
(Dollars in Thousands) Value Losses Value Losses Value Losses
December 31, 2016
Available for Sale
U.S. Government Treasury $ 116,704   $ 851   $ -   $ -   $ 116,704   $ 851
U.S. Government Agency 48,520 310 6,699 34 55,219 344
States and Political Subdivisions 81,521   380   294   1   81,815   381
Mortgage-Backed Securities   3     -     -     -     3     -
Total 246,748   1,541   6,993   35   253,741   1,576
Held to Maturity
U.S. Government Treasury   35,210   81   -   -   35,210     81
States and Political Subdivisions 7,491 38 - - 7,491 38
Mortgage-Backed Securities   36,710     599     4,010     38     40,720     637
Total $ 79,411   $ 718   $ 4,010   $ 38   $ 83,421   $ 756
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 25,156 407
Total $ 114,403   $ 357   $ 11,889   $ 222   $ 126,292   $ 579