INVESTMENT SECURITIES (Tables)
|
6 Months Ended |
Jun. 30, 2018 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Available-for-sale Securities Reconciliation |
The amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale and held to maturity as of June 30, 2019 and December 31, 2018, respectively, were as follows: | | | | | | | | | | | | | | | | | Available for sale securities | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | June 30, 2019 | | | | | | | | U.S. government agency obligations | $ | 53,085 |
| | $ | 138 |
| | $ | 218 |
| | $ | 53,005 |
| Obligations of states and political subdivisions | 27,670 |
| | 231 |
| | 25 |
| | 27,876 |
| Mortgage-backed securities | 41,574 |
| | 424 |
| | 162 |
| | 41,836 |
| Corporate debt securities | 8,543 |
| | 35 |
| | 139 |
| | 8,439 |
| Corporate asset based securities | 23,953 |
| | — |
| | 349 |
| | 23,604 |
| Total available for sale securities | $ | 154,825 |
| | $ | 828 |
| | $ | 893 |
| | $ | 154,760 |
| | | | | | | | | December 31, 2018 | | | | | | | | U.S. government agency obligations | $ | 46,215 |
| | $ | 13 |
| | $ | 930 |
| | $ | 45,298 |
| Obligations of states and political subdivisions | 35,162 |
| | 22 |
| | 456 |
| | 34,728 |
| Mortgage-backed securities | 42,279 |
| | 10 |
| | 939 |
| | 41,350 |
| Agency Securities | 104 |
| | 49 |
| | 5 |
| | 148 |
| Corporate debt securities | 6,577 |
| | — |
| | 272 |
| | 6,305 |
| Corporate asset based securities | 18,928 |
| | 8 |
| | 40 |
| | 18,896 |
| Total available for sale securities | $ | 149,265 |
| | $ | 102 |
| | $ | 2,642 |
| | $ | 146,725 |
|
|
| Held-to-maturity securities |
| | | | | | | | | | | | | | | | | Held to maturity securities | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | June 30, 2019 | | | | | | | | Obligations of states and political subdivisions | $ | 980 |
| | $ | 3 |
| | $ | — |
| | $ | 983 |
| Mortgage-backed securities | 2,848 |
| | 96 |
| | — |
| | 2,944 |
| Total held to maturity securities | $ | 3,828 |
| | $ | 99 |
| | $ | — |
| | $ | 3,927 |
| | | | | | | | | December 31, 2018 | | | | | | | | Obligations of states and political subdivisions | $ | 1,701 |
| | $ | — |
| | $ | 3 |
| | $ | 1,698 |
| Mortgage-backed securities | 3,149 |
| | 42 |
| | 17 |
| | 3,174 |
| Total held to maturity securities | $ | 4,850 |
| | $ | 42 |
| | $ | 20 |
| | $ | 4,872 |
|
|
| Available-for-sale securities |
The estimated fair value of securities at June 30, 2019 and December 31, 2018, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and municipal securities due to the call feature. | | | | | | | | | | | | | | | | | | June 30, 2019 | | December 31, 2018 | Available for sale securities | Amortized Cost | | Estimated Fair Value | | Amortized Cost | | Estimated Fair Value | Due in one year or less | $ | 3,350 |
| | $ | 3,351 |
| | $ | 2,177 |
| | $ | 2,172 |
| Due after one year through five years | 20,945 |
| | 21,063 |
| | 22,296 |
| | 22,043 |
| Due after five years through ten years | 35,537 |
| | 35,481 |
| | 43,014 |
| | 42,081 |
| Due after ten years | 53,420 |
| | 53,029 |
| | 39,395 |
| | 38,931 |
| Total securities with contractual maturities | $ | 113,252 |
| | $ | 112,924 |
| | $ | 106,882 |
| | $ | 105,227 |
| Mortgage backed securities | 41,573 |
| | 41,836 |
| | 42,279 |
| | 41,350 |
| Securities without contractual maturities | — |
| | — |
| | 104 |
| | 148 |
| Total available for sale securities | $ | 154,825 |
| | $ | 154,760 |
| | $ | 149,265 |
| | $ | 146,725 |
|
| | | | | | | | | | | | | | | | | | June 30, 2019 | | December 31, 2018 | Held to maturity securities | Amortized Cost | | Estimated Fair Value | | Amortized Cost | | Estimated Fair Value | Due in one year or less | $ | 680 |
| | $ | 681 |
| | $ | 680 |
| | $ | 679 |
| Due after one year through five years | 300 |
| | 302 |
| | 1,021 |
| | 1,020 |
| Total securities with contractual maturities | $ | 980 |
| | $ | 983 |
| | $ | 1,701 |
| | $ | 1,699 |
| Mortgage backed securities | 2,848 |
| | 2,944 |
| | 3,149 |
| | 3,173 |
| Total held to maturity securities | $ | 3,828 |
| | $ | 3,927 |
| | $ | 4,850 |
| | $ | 4,872 |
|
|
| Available for sale securities with unrealized losses |
Securities with unrealized losses at June 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | Available for sale securities | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | June 30, 2019 | | | | | | | | | | | | | U.S. government agency obligations | | $ | 8,900 |
| | $ | 21 |
| | $ | 19,283 |
| | $ | 197 |
| | $ | 28,183 |
| | $ | 218 |
| Obligations of states and political subdivisions | | — |
| | — |
| | 6,080 |
| | 25 |
| | 6,080 |
| | 25 |
| Mortgage backed securities | | — |
| | — |
| | 13,200 |
| | 162 |
| | 13,200 |
| | 162 |
| Corporate debt securities | | — |
| | — |
| | 1,361 |
| | 139 |
| | 1,361 |
| | 139 |
| Corporate asset based securities | | 23,604 |
| | 349 |
| | — |
| | — |
| | 23,604 |
| | 349 |
| Total | | $ | 32,504 |
| | $ | 370 |
| | $ | 39,924 |
| | $ | 523 |
| | $ | 72,428 |
| | $ | 893 |
| December 31, 2018 | | | | | | | | | | | | | U.S. government agency obligations | | $ | 25,061 |
| | $ | 165 |
| | $ | 19,755 |
| | $ | 765 |
| | $ | 44,816 |
| | $ | 930 |
| Obligations of states and political subdivisions | | 5,807 |
| | 28 |
| | 24,124 |
| | 428 |
| | 29,931 |
| | 456 |
| Mortgage backed securities | | 3,518 |
| | 9 |
| | 31,040 |
| | 930 |
| | 34,558 |
| | 939 |
| Agency securities | | 28 |
| | 5 |
| | — |
| | — |
| | 28 |
| | 5 |
| Corporate debt securities | | 1,233 |
| | 17 |
| | 5,071 |
| | 255 |
| | 6,304 |
| | 272 |
| Corporate asset based securities | | 10,142 |
| | 40 |
| | — |
| | — |
| | 10,142 |
| | 40 |
| Total | | $ | 45,789 |
| | $ | 264 |
| | $ | 79,990 |
| | $ | 2,378 |
| | $ | 125,779 |
| | $ | 2,642 |
|
|
| Schedule of Temporary Impairment Losses, Investments |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | Held to maturity securities | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | June 30, 2019 | | | | | | | | | | | | | Obligations of states and political subdivisions | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Mortgage-backed securities | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| December 31, 2018 | | | | | | | | | | | | | Obligations of states and political subdivisions | | $ | 1,290 |
| | $ | 1 |
| | $ | 409 |
| | $ | 2 |
| | $ | 1,699 |
| | $ | 3 |
| Mortgage-backed securities | | 1,238 |
| | 3 |
| | 1,319 |
| | 14 |
| | 2,557 |
| | 17 |
| Total | | $ | 2,528 |
| | $ | 4 |
| | $ | 1,728 |
| | $ | 16 |
| | $ | 4,256 |
| | $ | 20 |
|
|