Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2017
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:
2017 2016
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 $ 237,505 $ - $ 2,164 $ 235,341 $ 286,867 $ 262 $ 851 $ 286,278
U.S. Government Agency 144,324 727 407 144,644 131,489 495 344 131,640
States and Political Subdivisions 91,533 2 378 91,157 95,197 23 381 94,839
Mortgage-Backed Securities 1,102 83 - 1,185 1,312 118 - 1,430
Equity Securities(1) 8,584 - - 8,584 8,547 - - 8,547
Total $ 483,048 $ 812 $ 2,949 $ 480,911 $ 523,412 $ 898 $ 1,576 $ 522,734
Held to Maturity
U.S. Government Treasury $ 98,256 $ - $ 441 $ 97,815 $ 119,131 $ 107 $ 81 $ 119,157
States and Political Subdivisions 6,996 - 41 6,955 8,175 1 38 8,138
Mortgage-Backed Securities 111,427 22 1,212 110,237 50,059 29 637 49,451
Total $ 216,679 $ 22 $ 1,694 $ 215,007 $ 177,365 $ 137 $ 756 $ 176,746
Total Investment Securities $ 699,727 $ 834 $ 4,643 $ 695,918 $ 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 $ 107,977   $ 107,740   $ 63,381   $ 63,271
Due after one through five years   258,193     255,593     41,871     41,499
Mortgage-Backed Securities 1,102 1,185 111,427 110,237
U.S. Government Agency   107,192     107,809     -     -
Equity Securities   8,584     8,584     -     -
Total $ 483,048   $ 480,911   $ 216,679   $ 215,007
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, 2017
Available for Sale
U.S. Government Treasury $ 155,443   $ 963   $ 79,900   $ 1,201   $ 235,343   $ 2,164
U.S. Government Agency 45,737 150 25,757 257 71,494 407
States and Political Subdivisions 82,999   320   5,549   58   88,548   378
Mortgage-Backed Securities   2     -     -     -     2     -
Total 284,181   1,433   111,206   1,516   395,387   2,949
Held to Maturity
U.S. Government Treasury   77,861   298   14,939   143   92,800     441
States and Political Subdivisions 6,955 41 - - 6,955 41
Mortgage-Backed Securities   56,030     469     30,216     743     86,246     1,212
Total $ 140,846   $ 808   $ 45,155   $ 886   $ 186,001   $ 1,694
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