Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT SECURITIES (Tables)

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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 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:
June 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 $ 277,718 $ 55 $ 808 $ 276,965 $ 286,867 $ 262 $ 851 $ 286,278
U.S. Government Agency 142,400 774 280 142,894 131,489 495 344 131,640
States and Political Subdivisions 99,899 155 76 99,978 95,197 23 381 94,839
Mortgage-Backed Securities 1,246 116 - 1,362 1,312 118 - 1,430
Equity Securities(1) 8,487 - - 8,487 8,547 - - 8,547
Total $ 529,750 $ 1,100 $ 1,164 $ 529,686 $ 523,412 $ 898 $ 1,576 $ 522,734
Held to Maturity
U.S. Government Treasury $ 83,246 $ 1 $ 166 $ 83,081 $ 119,131 $ 107 $ 81 $ 119,157
States and Political Subdivisions 7,351 25 2 7,374 8,175 1 38 8,138
Mortgage-Backed Securities 66,477 71 493 66,055 50,059 29 637 49,451
Total $ 157,074 $ 97 $ 661 $ 156,510 $ 177,365 $ 137 $ 756 $ 176,746
Total Investment Securities $ 686,824 $ 1,197 $ 1,825 $ 686,196 $ 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 $ 164,458   $ 164,400   $ 48,640   $ 48,584
Due after one through five years   252,755     251,947     41,957     41,871
Mortgage-Backed Securities 1,246 1,362 66,477 66,055
U.S. Government Agency   102,804     103,490     -     -
Equity Securities   8,487     8,487     -     -
Total $ 529,750   $ 529,686   $ 157,074   $ 156,510
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
June 30, 2017
Available for Sale
U.S. Government Treasury $ 221,874   $ 808   $ -   $ -   $ 221,874   $ 808
U.S. Government Agency 46,260 201 9,608 79 55,868 280
States and Political Subdivisions 37,984   69   1,063   7   39,047   76
Mortgage-Backed Securities   -     -     3     -     3     -
Total 306,118   1,078   10,674   86   316,792   1,164
Held to Maturity
U.S. Government Treasury   78,091   166   -   -   78,091     166
States and Political Subdivisions 1,065 2 - - 1,065 2
Mortgage-Backed Securities   34,840     441     4,067     52     38,907     493
Total $ 113,996   $ 609   $ 4,067   $ 52   $ 118,063   $ 661
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