Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 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:
September 30, 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 $ 257,635 $ 32 $ 869 $ 256,798 $ 286,867 $ 262 $ 851 $ 286,278
U.S. Government Agency 147,550 729 290 147,989 131,489 495 344 131,640
States and Political Subdivisions 95,869 175 54 95,990 95,197 23 381 94,839
Mortgage-Backed Securities 1,218 114 - 1,332 1,312 118 - 1,430
Equity Securities(1) 8,737 - - 8,737 8,547 - - 8,547
Total $ 511,009 $ 1,050 $ 1,213 $ 510,846 $ 523,412 $ 898 $ 1,576 $ 522,734
Held to Maturity
U.S. Government Treasury $ 93,309 $ 2 $ 183 $ 93,128 $ 119,131 $ 107 $ 81 $ 119,157
States and Political Subdivisions 7,051 31 2 7,080 8,175 1 38 8,138
Mortgage-Backed Securities 83,902 55 642 83,315 50,059 29 637 49,451
Total $ 184,262 $ 88 $ 827 $ 183,523 $ 177,365 $ 137 $ 756 $ 176,746
Total Investment Securities $ 695,271 $ 1,138 $ 2,040 $ 694,369 $ 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
(Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value
Due in one year or less $ 138,454   $ 138,421   $ 63,439   $ 63,370
Due after one through five years   253,590     252,720     36,922     36,838
Mortgage-Backed Securities 1,217 1,332 83,901 83,315
U.S. Government Agency   109,011     109,636     -     -
Equity Securities   8,737     8,737     -     -
Total $ 511,009   $ 510,846   $ 184,262   $ 183,523
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
September 30, 2017
Available for Sale
U.S. Government Treasury $ 191,720   $ 759   $ 9,981   $ 110   $ 201,701   $ 869
U.S. Government Agency 34,775 126 17,853 164 52,628 290
States and Political Subdivisions 23,031   22   5,129   32   28,160   54
Total 249,526   907   32,963   306   282,489   1,213
Held to Maturity
U.S. Government Treasury   83,173   183   -   -   83,173     183
States and Political Subdivisions 504 2 - - 504 2
Mortgage-Backed Securities   47,159     579     4,373     63     51,532     642
Total $ 130,836   $ 764   $ 4,373   $ 63   $ 135,209   $ 827
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