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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investment Securities [Abstract]  
Amortized Cost and Fair Values of Securities

The amortized costs and approximate fair values, together with gross unrealized gains and losses on securities, are as follows:



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



2016



 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

Available for Sale Securities

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

$

 92,871 

 

$

 802 

 

$

 (1,156)

 

$

 92,517 

Collateralized mortgage obligations

 

 68,621 

 

 

 269 

 

 

 (843)

 

 

 68,047 

Municipal obligations

 

 77,474 

 

 

 1,716 

 

 

 (1,508)

 

 

 77,682 

Corporate obligations

 

 12,822 

 

 

 78 

 

 

 (1,233)

 

 

 11,667 

Total investment securities

$

 251,788 

 

$

 2,865 

 

$

 (4,740)

 

$

 249,913 







 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



2015



 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

Available for Sale Securities

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

$

 106,524 

 

$

 1,562 

 

$

 (248)

 

$

 107,838 

Collateralized mortgage obligations

 

 84,976 

 

 

 537 

 

 

 (861)

 

 

 84,652 

Municipal obligations

 

 54,427 

 

 

 2,781 

 

 

 (20)

 

 

 57,188 

Corporate obligations

 

 12,805 

 

 

 1 

 

 

 (1,346)

 

 

 11,460 

Total investment securities

$

 258,732 

 

$

 4,881 

 

$

 (2,475)

 

$

 261,138 



Investments Gross Unrealized Losses and Fair Value in Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016 and 2015:





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



2016



Less than 12 Months

 

12 Months or More

 

Total



 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

$

 58,056 

 

$

 (1,156)

 

$

 -

 

$

 -

 

$

 58,056 

 

$

 (1,156)

Collateralized mortgage obligations

 

 41,769 

 

 

 (683)

 

 

 4,688 

 

 

 (160)

 

 

 46,457 

 

 

 (843)

Municipal obligations

 

 31,907 

 

 

 (1,507)

 

 

 337 

 

 

 (1)

 

 

 32,244 

 

 

 (1,508)

Corporate obligations

 

 -

 

 

 -

 

 

 7,076 

 

 

 (1,233)

 

 

 7,076 

 

 

 (1,233)

Total temporarily impaired securities

$

 131,732 

 

$

 (3,346)

 

$

 12,101 

 

$

 (1,394)

 

$

 143,833 

 

$

 (4,740)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



2015



Less than 12 Months

 

12 Months or More

 

Total



 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

 

 

Fair Value

 

 

Unrealized Losses

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

$

 38,649 

 

$

 (248)

 

$

 -

 

$

 -

 

$

 38,649 

 

$

 (248)

Collateralized mortgage obligations

 

 27,457 

 

 

 (281)

 

 

 21,271 

 

 

 (580)

 

 

 48,728 

 

 

 (861)

Municipal obligations

 

 2,739 

 

 

 (17)

 

 

 491 

 

 

 (3)

 

 

 3,230 

 

 

 (20)

Corporate obligations

 

 4,425 

 

 

 (75)

 

 

 2,534 

 

 

 (1,271)

 

 

 6,959 

 

 

 (1,346)

Total temporarily impaired securities

$

 73,270 

 

$

 (621)

 

$

 24,296 

 

$

 (1,854)

 

$

 97,566 

 

$

 (2,475)



Debt Securities for which Credit Loss was Recognized in Income and Other Losses Recorded in Other Comprehensive Income

The following table provides information about debt securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income.



 

 

 

 

 

 

 

 



Accumulated Credit Losses



2016

 

2015

 

2014

Credit losses on debt securities held

 

 

 

 

 

 

 

 

Beginning of period

$

 109 

 

$

 109 

 

$

 1,205 

Reductions related to actual losses incurred

 

 -

 

 

 -

 

 

 -

Reductions for previous credit losses realized on securities sold during the year

 

 -

 

 

 -

 

 

 (1,096)

As of December 31,

$

 109 

 

$

 109 

 

$

 109 



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



The amortized cost and fair value of securities available for sale at December 31, 2016, by contractual maturity, are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.



 

 

 

 

 

 



 

 

 

 

 

 



 

Available for Sale

Description Securities

 

Amortized Cost

 

Fair Value

Security obligations due

 

 

 

 

 

 

One to five years

 

$

 5,345 

 

$

 5,353 

Five to ten years

 

 

 14,386 

 

 

 14,861 

After ten years

 

 

 70,565 

 

 

 69,135 



 

 

 90,296 

 

 

 89,349 

Mortgage-backed securities

 

 

 92,871 

 

 

 92,517 

Collateralized mortgage obligations

 

 

 68,621 

 

 

 68,047 

Totals

 

$

 251,788 

 

$

 249,913