Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 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:
September 30, 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 $ 272,335 $ - $ 4,222 $ 268,113 $ 237,505 $ - $ 2,164 $ 235,341
U.S. Government Agency 153,087 625 621 153,091 144,324 727 407 144,644
States and Political Subdivisions 54,115 - 276 53,839 91,533 2 378 91,157
Mortgage-Backed Securities 922 50 - 972 1,102 83 - 1,185
Equity Securities(1) 8,228 - - 8,228 8,584 - - 8,584
Total $ 488,687 $ 675 $ 5,119 $ 484,243 $ 483,048 $ 812 $ 2,949 $ 480,911
Held to Maturity
U.S. Government Treasury $ 35,103 $ - $ 702 $ 34,401 $ 98,256 $ - $ 441 $ 97,815
States and Political Subdivisions 6,566 - 45 6,521 6,996 - 41 6,955
Mortgage-Backed Securities 186,254 207 3,852 182,609 111,427 22 1,212 110,237
Total $ 227,923 $ 207 $ 4,599 $ 223,531 $ 216,679 $ 22 $ 1,694 $ 215,007
Total Investment Securities $ 716,610 $ 882 $ 9,718 $ 707,774 $ 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 $ 120,134   $ 119,269   $ 13,099   $ 12,963
Due after one year through five years   232,224     228,353     28,570     27,959
Mortgage-Backed Securities 922 972 186,254 182,609
U.S. Government Agency   127,179     127,421     -     -
Equity Securities   8,228     8,228     -     -
Total $ 488,687   $ 484,243   $ 227,923   $ 223,531
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, 2018
Available for Sale
U.S. Government Treasury $ 92,259   $ 1,005   $ 175,854   $ 3,217   $ 268,113   $ 4,222
U.S. Government Agency 63,475 351 29,223 270 92,698 621
States and Political Subdivisions 34,928   164   14,831   112   49,759   276
Mortgage-Backed Securities   10     -     2     -     12     -
Total 190,672   1,520   219,910   3,599   410,582   5,119
Held to Maturity
U.S. Government Treasury   4,900   112   29,501   590   34,401     702
States and Political Subdivisions 6,026 38 495 7 6,521 45
Mortgage-Backed Securities   90,516     1,498     55,089     2,354     145,605     3,852
Total $ 101,442   $ 1,648   $ 85,085   $ 2,951   $ 186,527   $ 4,599
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