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MARKETABLE SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Available for Sale and Held to Maturity Securities
The following tables summarize the amortized cost and fair value of securities available for sale and securities held to maturity as of June 30, 2017 and December 31, 2016 and the corresponding amounts of gross unrealized gains and losses:
June 30, 2017
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available for sale:
 
 
 
 
 
 
 
Corporate bonds
$
18,861

 
$
180

 
$
8

 
$
19,033

Municipal securities
7,793

 
—

 
300

 
7,493

Mortgage-backed securities
95,343

 
24

 
902

 
94,465

Collateralized mortgage obligations
124,833

 
628

 
219

 
125,242

Total available for sale
$
246,830

 
$
832

 
$
1,429

 
$
246,233

 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
Municipal securities
$
148,021

 
$
2,869

 
$
530

 
$
150,360

Mortgage-backed securities
24,642

 
320

 
93

 
24,869

Collateralized mortgage obligations
9,585

 
220

 
507

 
9,298

Total held to maturity
$
182,248

 
$
3,409

 
$
1,130

 
$
184,527


December 31, 2016
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available for sale:
 
 
 
 
 
 
 
Corporate bonds
$
25,254

 
$
6

 
$
377

 
$
24,883

Municipal securities
7,841

 
—

 
622

 
7,219

Mortgage-backed securities
61,298

 
—

 
1,608

 
59,690

Collateralized mortgage obligations
65,789

 
10

 
666

 
65,133

Total available for sale
$
160,182

 
$
16

 
$
3,273

 
$
156,925

 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
Municipal securities
$
149,420

 
$
901

 
$
3,889

 
$
146,432

Mortgage-backed securities
28,450

 
318

 
290

 
28,478

Collateralized mortgage obligations
11,501

 
265

 
521

 
11,245

Total held to maturity
$
189,371

 
$
1,484

 
$
4,700

 
$
186,155
Schedule of Securities with Gross Unrealized Losses
Information pertaining to securities with gross unrealized losses as of June 30, 2017 and December 31, 2016 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position is detailed in the following tables:
 
Less Than 12 Months
 
12 Months or Longer
 
Total
June 30, 2017
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
(8
)
 
$
2,981

 
$
—

 
$
—

 
$
(8
)
 
$
2,981

Municipal securities
(300
)
 
7,493

 
—

 
—

 
(300
)
 
7,493

Mortgage-backed securities
(569
)
 
75,674

 
(333
)
 
14,375

 
(902
)
 
90,049

Collateralized mortgage obligations
(68
)
 
25,407

 
(151
)
 
8,143

 
(219
)
 
33,550

Total available for sale
$
(945
)
 
$
111,555

 
$
(484
)
 
$
22,518

 
$
(1,429
)
 
$
134,073

 
 
 
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
$
(406
)
 
$
38,442

 
$
(124
)
 
$
6,015

 
$
(530
)
 
$
44,457

Mortgage-backed securities
(93
)
 
11,154

 
—

 
—

 
(93
)
 
11,154

Collateralized mortgage obligations
—

 
—

 
(507
)
 
2,297

 
(507
)
 
2,297

Total held to maturity
$
(499
)
 
$
49,596

 
$
(631
)
 
$
8,312

 
$
(1,130
)
 
$
57,908

 
Less Than 12 Months
 
12 Months or Longer
 
Total
December 31, 2016
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
(377
)
 
$
22,529

 
$
—

 
$
—

 
$
(377
)
 
$
22,529

Municipal securities
(622
)
 
7,219

 
—

 
—

 
(622
)
 
7,219

Mortgage-backed securities
(1,047
)
 
44,420

 
(561
)
 
15,270

 
(1,608
)
 
59,690

Collateralized mortgage obligations
(437
)
 
55,435

 
(229
)
 
9,049

 
(666
)
 
64,484

Total available for sale
$
(2,483
)
 
$
129,603

 
$
(790
)
 
$
24,319

 
$
(3,273
)
 
$
153,922

 
 
 
 
 
 
 
 
 
 
 
 
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
Municipal securities
$
(3,889
)
 
$
98,943

 
$
—

 
$
—

 
$
(3,889
)
 
$
98,943

Mortgage-backed securities
(290
)
 
19,983

 
—

 
—

 
(290
)
 
19,983

Collateralized mortgage obligations
—

 
—

 
(521
)
 
2,350

 
(521
)
 
2,350

Total held to maturity
$
(4,179
)
 
$
118,926

 
$
(521
)
 
$
2,350

 
$
(4,700
)
 
$
121,276
Schedule of Proceeds from Sales of Securities
The proceeds from sales of securities and the associated gains and losses are listed below for:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Proceeds
$
14,762

 
$
53,467

 
$
14,762

 
$
77,087

Gross gains
38

 
72

 
38

 
147

Gross losses
(13
)
 
(91
)
 
(13
)
 
(129
)
Schedule of Sale of Held To Maturity Securities
Sale of securities held to maturity were as follows for:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Proceeds from sales
$
923

 
$
—

 
$
923

 
$
1,866

Amortized cost
907

 
—

 
907

 
1,842

Gross realized gains
16

 
—

 
16

 
24

Tax expense related to securities gains/losses
(4
)
 
—

 
(4
)
 
(7
)
Investments Classified by Contractual Maturity Date
The contractual maturities at June 30, 2017 of available for sale and held to maturity securities at carrying value and estimated fair value are shown below. The Company invests in mortgage-backed securities and collateralized mortgage obligations that have expected maturities that differ from their contractual maturities. These differences arise because borrowers and/or issuers may have the right to call or prepay their obligation with or without call or prepayment penalties.
 
Available for Sale
 
Held to Maturity
 
Amortized
Cost
 
Estimated
Fair
Value
 
Amortized
Cost
 
Estimated
Fair
Value
Due within one year
$
—

 
$
—

 
$
2,831

 
$
2,838

Due after one year through five years
1,094

 
1,104

 
5,553

 
5,731

Due after five years through ten years
17,767

 
17,929

 
40,659

 
42,175

Due after ten years
7,793

 
7,493

 
98,978

 
99,616

Mortgage-backed securities
95,343

 
94,465

 
24,642

 
24,869

Collateralized mortgage obligations
124,833

 
125,242

 
9,585

 
9,298

 
$
246,830

 
$
246,233

 
$
182,248

 
$
184,527