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Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income are shown below.
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
September 30, 2018
 
 
 
 
 
 
 
Certificates of deposit
$
89,175

 
$
—

 
$
—

 
$
89,175

Mortgage-backed securities - residential
10,593

 
393

 
(61
)
 
10,925

Collateralized mortgage obligations - residential
3,819

 
13

 
(11
)
 
3,821

 
$
103,587

 
$
406

 
$
(72
)
 
$
103,921

December 31, 2017
 
 
 
 
 
 
 
Certificates of deposit
$
75,916

 
$
—

 
$
—

 
$
75,916

Equity mutual fund
500

 
—

 
(1
)
 
499

Mortgage-backed securities - residential
11,969

 
520

 
(17
)
 
12,472

Collateralized mortgage obligations - residential
4,481

 
16

 
(11
)
 
4,486

SBA-guaranteed loan participation certificates
10

 
—

 
—

 
10

 
$
92,876

 
$
536

 
$
(29
)
 
$
93,383


The mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities or agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support. All securities reflected in the preceding table were classified as available-for-sale at September 30, 2018 and December 31, 2017.
The amortized cost and fair values of securities by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
September 30, 2018
 
Amortized
Cost
 
Fair
Value
Due in one year or less
$
89,175

 
$
89,175

Mortgage-backed securities - residential
10,593

 
10,925

Collateralized mortgage obligations - residential
3,819

 
3,821

 
$
103,587

 
$
103,921


 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Proceeds
$
—

 
$
—

 
$
487

 
$
—

Gross gains
—

 
—

 
—

 
—

Gross losses
—

 
—

 
(14
)
 
—


Securities with unrealized losses not recognized in income are as follows:
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities - residential
$
924

 
$
(6
)
 
$
1,004

 
$
(55
)
 
$
1,928

 
$
(61
)
Collateralized mortgage obligations - residential
—

 
—

 
1,796

 
(11
)
 
1,796

 
(11
)
 
$
924

 
$
(6
)
 
$
2,800

 
$
(66
)
 
$
3,724

 
$
(72
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Equity mutual fund
$
499

 
$
(1
)
 
$
—

 
$
—

 
$
499

 
$
(1
)
Mortgage-backed securities - residential
—

 
—

 
1,149

 
(17
)
 
1,149

 
(17
)
Collateralized mortgage obligations - residential
—

 
—

 
2,083

 
(11
)
 
2,083

 
(11
)
 
$
499

 
$
(1
)
 
$
3,232

 
$
(28
)
 
$
3,731

 
$
(29
)

The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary.
Certain mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at September 30, 2018, but the unrealized losses were not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is likely that the Company will not be required to sell these securities before their anticipated recovery occurs.
Unrealized gains and losses recognized in accumulated other comprehensive income (loss)
The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income are shown below.
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
September 30, 2018
 
 
 
 
 
 
 
Certificates of deposit
$
89,175

 
$
—

 
$
—

 
$
89,175

Mortgage-backed securities - residential
10,593

 
393

 
(61
)
 
10,925

Collateralized mortgage obligations - residential
3,819

 
13

 
(11
)
 
3,821

 
$
103,587

 
$
406

 
$
(72
)
 
$
103,921

December 31, 2017
 
 
 
 
 
 
 
Certificates of deposit
$
75,916

 
$
—

 
$
—

 
$
75,916

Equity mutual fund
500

 
—

 
(1
)
 
499

Mortgage-backed securities - residential
11,969

 
520

 
(17
)
 
12,472

Collateralized mortgage obligations - residential
4,481

 
16

 
(11
)
 
4,486

SBA-guaranteed loan participation certificates
10

 
—

 
—

 
10

 
$
92,876

 
$
536

 
$
(29
)
 
$
93,383
Amortized cost and fair values of securities
The amortized cost and fair values of securities by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
September 30, 2018
 
Amortized
Cost
 
Fair
Value
Due in one year or less
$
89,175

 
$
89,175

Mortgage-backed securities - residential
10,593

 
10,925

Collateralized mortgage obligations - residential
3,819

 
3,821

 
$
103,587

 
$
103,921
Securities with unrealized losses
Securities with unrealized losses not recognized in income are as follows:
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities - residential
$
924

 
$
(6
)
 
$
1,004

 
$
(55
)
 
$
1,928

 
$
(61
)
Collateralized mortgage obligations - residential
—

 
—

 
1,796

 
(11
)
 
1,796

 
(11
)
 
$
924

 
$
(6
)
 
$
2,800

 
$
(66
)
 
$
3,724

 
$
(72
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Equity mutual fund
$
499

 
$
(1
)
 
$
—

 
$
—

 
$
499

 
$
(1
)
Mortgage-backed securities - residential
—

 
—

 
1,149

 
(17
)
 
1,149

 
(17
)
Collateralized mortgage obligations - residential
—

 
—

 
2,083

 
(11
)
 
2,083

 
(11
)
 
$
499

 
$
(1
)
 
$
3,232

 
$
(28
)
 
$
3,731

 
$
(29
)