Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

v3.7.0.1
INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2017
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:
March 31, 2017 December 31, 2016
Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market
Cost Gains Losses Value Cost Gain Losses Value
Available for Sale
U.S. Government Treasury $ 288,661 $ 106 $ 778 $ 287,989 $ 286,867 $ 262 $ 851 $ 286,278
U.S. Government Agency 143,066 660 293 143,433 131,489 495 344 131,640
States and Political Subdivisions 99,685 126 111 99,700 95,197 23 381 94,839
Mortgage-Backed Securities 1,275 117 - 1,392 1,312 118 - 1,430
Equity Securities(1) 8,588 - - 8,588 8,547 - - 8,547
Total $ 541,275 $ 1,009 $ 1,182 $ 541,102 $ 523,412 $ 898 $ 1,576 $ 522,734
Held to Maturity
U.S. Government Treasury $ 93,335 $ 26 $ 98 $ 93,263 $ 119,131 $ 107 $ 81 $ 119,157
States and Political Subdivisions 7,610 17 4 7,623 8,175 1 38 8,138
Mortgage-Backed Securities 57,570 58 629 56,999 50,059 29 637 49,451
Total $ 158,515 $ 101 $ 731 $ 157,885 $ 177,365 $ 137 $ 756 $ 176,746
Total Investment Securities $ 699,790 $ 1,110 $ 1,913 $ 698,987 $ 700,777 $ 1,035 $ 2,332 $ 699,480
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 $ 185,316   $ 185,386   $ 35,468   $ 35,485
Due after one through five years   242,632     241,724     65,477     65,401
Mortgage-Backed Securities 1,275 1,392 57,570 56,999
U.S. Government Agency   103,464     104,012     -     -
Equity Securities   8,588     8,588     -     -
Total $ 541,275   $ 541,102   $ 158,515   $ 157,885
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
March 31, 2017
Available for Sale
U.S. Government Treasury $ 133,781   $ 778   $ -   $ -   $ 133,781   $ 778
U.S. Government Agency $ 52,628 $ 278 $ 3,871 $ 15 $ 56,499 $ 293
States and Political Subdivisions 48,786   109   542   2   49,328   111
Mortgage-Backed Securities   -     -     3     -     3     -
Total 235,195   1,165   4,416   17   239,611   1,182
Held to Maturity
U.S. Government Treasury   47,679   98   -   -   47,679     98
States and Political Subdivisions 2,545 4 - - 2,545 4
Mortgage-Backed Securities   35,437     592     3,404     37     38,841     629
Total $ 85,661   $ 694   $ 3,404   $ 37   $ 89,065   $ 731
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