Investment Securities (Tables)

12 Months Ended

Dec. 31, 2017

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:



	December 31, 2017
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for Sale Securities
Mortgage-backed securities	$	68,335	$	225	$	(762)	$	67,798
Collateralized mortgage obligations		88,488		58		(1,296)		87,250
Municipal obligations		107,060		3,709		(274)		110,495
Corporate obligations		12,966		69		(1,200)		11,835
Total investment securities	$	276,849	$	4,061	$	(3,532)	$	277,378



	December 31, 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

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, 2017, 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 of Securities	Amortized Cost		Fair Value
Security obligations due
Within one year	$	160	$	158
One to five years		5,001		5,034
Five to ten years		24,044		25,175
After ten years		90,821		91,963
		120,026		122,330
Mortgage-backed securities		68,335		67,798
Collateralized mortgage obligations		88,488		87,250
Totals	$	276,849	$	277,378

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, 2017 and 2016:



	December 31, 2017
	Less than 12 Months				12 Months or More				Total
		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Available for Sale Securities
Mortgage-backed securities	$	21,975	$	(127)	$	27,675	$	(635)	$	49,650	$	(762)
Collateralized mortgage obligations		47,153		(400)		28,887		(896)		76,040		(1,296)
Municipal obligations		4,479		(64)		10,041		(210)		14,520		(274)
Corporate obligations		-		-		2,722		(1,200)		2,722		(1,200)
Total temporarily impaired securities	$	73,607	$	(591)	$	69,325	$	(2,941)	$	142,932	$	(3,532)



	December 31, 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 Securities
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)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details