Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018 December 31, 2017
Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market
Cost Gains Losses Value Cost Gain Losses Value
Available for Sale
U.S. Government Treasury $ 240,933 $ 5 $ 3,361 $ 237,577 $ 237,505 $ - $ 2,164 $ 235,341
U.S. Government Agency 149,074 667 670 149,071 144,324 727 407 144,644
States and Political Subdivisions 76,486 - 343 76,143 91,533 2 378 91,157
Mortgage-Backed Securities 1,082 77 - 1,159 1,102 83 - 1,185
Equity Securities(1) 7,886 - - 7,886 8,584 - - 8,584
Total $ 475,461 $ 749 $ 4,374 $ 471,836 $ 483,048 $ 812 $ 2,949 $ 480,911
Held to Maturity
U.S. Government Treasury $ 78,184 $ - $ 664 $ 77,520 $ 98,256 $ - $ 441 $ 97,815
States and Political Subdivisions 6,940 - 42 6,898 6,996 - 41 6,955
Mortgage-Backed Securities 140,428 39 2,675 137,792 111,427 22 1,212 110,237
Total $ 225,552 $ 39 $ 3,381 $ 222,210 $ 216,679 $ 22 $ 1,694 $ 215,007
Total Investment Securities $ 701,013 $ 788 $ 7,755 $ 694,046 $ 699,727 $ 834 $ 4,643 $ 695,918
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 $ 85,838   $ 85,522   $ 43,838   $ 43,763
Due after one through five years   265,050     261,329     41,286     40,655
Mortgage-Backed Securities 1,082 1,159 140,428 137,792
U.S. Government Agency   115,605     115,940     -     -
Equity Securities   7,886     7,886     -     -
Total $ 475,461   $ 471,836   $ 225,552   $ 222,210
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, 2018
Available for Sale
U.S. Government Treasury $ 139,880   $ 1,820   $ 87,734   $ 1,541   $ 227,614   $ 3,361
U.S. Government Agency 55,536 376 28,120 294 83,656 670
States and Political Subdivisions 68,011   289   5,532   54   73,543   343
Mortgage-Backed Securities   2     -     -     -     2     -
Total 263,429   2,485   121,386   1,889   384,815   4,374
Held to Maturity
U.S. Government Treasury   47,622   454   29,898   210   77,520     664
States and Political Subdivisions 6,633 42 - - 6,633 42
Mortgage-Backed Securities   94,379     1,560     28,226     1,115     122,605     2,675
Total $ 148,634   $ 2,056   $ 58,124   $ 1,325   $ 206,758   $ 3,381
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