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Securities (Tables)
9 Months Ended
Sep. 30, 2018
Investments Debt And Equity Securities [Abstract]  
Aggregate Amortized Costs and Fair Values of Available-for-Sale Securities

The aggregate amortized costs and fair values of available-for-sale securities as of the dates stated were as follows.

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

September 30, 2018

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies and mortgage backed securities

 

$

52,073

 

 

$

1

 

 

$

(1,938

)

 

$

50,136

 

State and municipal obligations

 

 

20,525

 

 

 

12

 

 

 

(599

)

 

 

19,938

 

Corporate bonds

 

 

11,177

 

 

 

5

 

 

 

(41

)

 

 

11,141

 

Total available-for-sale securities

 

$

83,775

 

 

$

18

 

 

$

(2,578

)

 

$

81,215

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2017

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies and mortgage backed securities

 

$

49,964

 

 

$

6

 

 

$

(687

)

 

$

49,283

 

State and municipal obligations

 

 

21,113

 

 

 

195

 

 

 

(155

)

 

 

21,153

 

Corporate bonds

 

 

6,696

 

 

 

23

 

 

 

(2

)

 

 

6,717

 

Total available-for-sale securities

 

$

77,773

 

 

$

224

 

 

$

(844

)

 

$

77,153

 

 

Unrealized Loss Positions

The following tables provide additional information on these securities as of the dates stated.

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

September 30, 2018

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Government agencies and mortgage backed

   securities

 

$

17,047

 

 

$

(498

)

 

$

32,892

 

 

$

(1,440

)

 

$

49,939

 

 

$

(1,938

)

State and municipal obligations

 

 

11,996

 

 

 

(191

)

 

 

5,767

 

 

 

(408

)

 

 

17,763

 

 

 

(599

)

Corporate bonds

 

 

2,484

 

 

 

(41

)

 

 

 

 

 

 

 

 

2,484

 

 

 

(41

)

Total temporarily impaired securities

 

$

31,527

 

 

$

(730

)

 

$

38,659

 

 

$

(1,848

)

 

$

70,186

 

 

$

(2,578

)

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

December 31, 2017

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Government agencies and mortgage backed

   securities

 

$

25,053

 

 

$

(353

)

 

$

16,184

 

 

$

(334

)

 

$

41,237

 

 

$

(687

)

State and municipal obligations

 

 

2,753

 

 

 

(15

)

 

 

5,787

 

 

 

(140

)

 

 

8,540

 

 

 

(155

)

Corporate bonds

 

 

498

 

 

 

(2

)

 

 

 

 

 

 

 

 

498

 

 

 

(2

)

Total temporarily impaired securities

 

$

28,304

 

 

$

(370

)

 

$

21,971

 

 

$

(474

)

 

$

50,275

 

 

$

(844

)

 

Summary of Amortized Cost and Fair Value by Contractual Maturity of Securities Available for Sale

The following table presents the amortized cost and fair value by contractual maturity of securities available for sale as of the dates stated. Expected maturities may differ from contractual maturities, as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

 

September 30, 2018

 

 

December 31, 2017

 

 

 

Amortized Cost

 

 

Fair Value

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

978

 

 

$

973

 

 

$

3,583

 

 

$

3,514

 

Due after one year but less than five years

 

 

45,633

 

 

 

44,382

 

 

 

37,747

 

 

 

37,425

 

Due after five years but less than ten years

 

 

28,063

 

 

 

27,236

 

 

 

28,441

 

 

 

28,250

 

Due after ten years

 

 

9,101

 

 

 

8,624

 

 

 

8,002

 

 

 

7,964

 

Total available-for-sale securities

 

$

83,775

 

 

$

81,215

 

 

$

77,773

 

 

$

77,153