Securities Available-for-sale (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Available-for-sale Securities Reconciliation |
The following tables present the amortized costs, unrealized gains, unrealized losses, and estimated fair values of securities available-for-sale at December 31, 2016 and 2015: | | | | | | | | | | | | | | | | | | December 31, 2016 | SECURITIES AVAILABLE-FOR-SALE |
Amortized
Cost
| |
Unrealized
Gains
| |
Unrealized
Losses
| | Estimated
Fair
Values | U.S. agency securities | $ | 8,150 |
| | $ | 12 |
| | $ | (94 | ) | | $ | 8,068 |
| Corporate securities | 7,654 |
| | 14 |
| | (168 | ) | | 7,500 |
| Municipal bonds | 15,183 |
| | 164 |
| | (83 | ) | | 15,264 |
| Mortgage-backed securities | 45,856 |
| | 52 |
| | (713 | ) | | 45,195 |
| U.S. Small Business Administration securities | 5,862 |
| | 27 |
| | (41 | ) | | 5,848 |
| Total securities available-for-sale | $ | 82,705 |
| | $ | 269 |
| | $ | (1,099 | ) | | $ | 81,875 |
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| | | | | | | | | | | | | | | | | | December 31, 2015 | SECURITIES AVAILABLE-FOR-SALE |
Amortized
Cost
| |
Unrealized Gains | |
Unrealized Losses | | Estimated Fair Values | U.S. agency securities | $ | 6,134 |
| | $ | — |
| | $ | (99 | ) | | $ | 6,035 |
| Corporate securities | 3,495 |
| | 5 |
| | (67 | ) | | 3,433 |
| Municipal bonds | 18,531 |
| | 373 |
| | (13 | ) | | 18,891 |
| Mortgage-backed securities | 22,926 |
| | 72 |
| | (163 | ) | | 22,835 |
| U.S. Small Business Administration securities | 4,011 |
| | 23 |
| | (11 | ) | | 4,023 |
| Total securities available-for-sale | $ | 55,097 |
| | $ | 473 |
| | $ | (353 | ) | | $ | 55,217 |
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| Available-for-sale Securities, Gross Unrealized Loss |
Investment securities that were in an unrealized loss position at December 31, 2016 and 2015 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position. Management believes that these securities are only temporarily impaired due to changes in market interest rates or the widening of market spreads subsequent to the initial purchase of the securities, and not due to concerns regarding the underlying credit of the issuers or the underlying collateral. | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | Less than 12 Months | | 12 Months or Longer | | Total | SECURITIES AVAILABLE-FOR-SALE | Fair Value | | Unrealized
Losses | | Fair Value | | Unrealized
Losses | | Fair Value | | Unrealized
Losses | U.S. agency securities | $ | 6,998 |
| | $ | (94 | ) | | $ | — |
| | $ | — |
| | $ | 6,998 |
| | $ | (94 | ) | Corporate securities | 5,048 |
| | (106 | ) | | 1,438 |
| | (62 | ) | | 6,486 |
| | (168 | ) | Municipal bonds | 6,741 |
| | (83 | ) | | — |
| | — |
| | 6,741 |
| | (83 | ) | Mortgage-backed securities | 39,373 |
| | (713 | ) | | — |
| | — |
| | 39,373 |
| | (713 | ) | U.S. Small Business Administration securities | 2,963 |
| | (41 | ) | | — |
| | — |
| | 2,963 |
| | (41 | ) | Total | $ | 61,123 |
| | $ | (1,037 | ) | | $ | 1,438 |
| | $ | (62 | ) | | $ | 62,561 |
| | $ | (1,099 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | | Less than 12 Months | | 12 Months or Longer | | Total | SECURITIES AVAILABLE-FOR-SALE | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. agency securities | $ | 2,107 |
| | $ | (31 | ) | | $ | 3,928 |
| | $ | (68 | ) | | $ | 6,035 |
| | $ | (99 | ) | Corporate securities | 994 |
| | (6 | ) | | 1,439 |
| | (61 | ) | | 2,433 |
| | (67 | ) | Municipal bonds | 956 |
| | (1 | ) | | 293 |
| | (12 | ) | | 1,249 |
| | (13 | ) | Mortgage-backed securities | 15,642 |
| | (112 | ) | | 2,119 |
| | (51 | ) | | 17,761 |
| | (163 | ) | U.S. Small Business Administration securities | 990 |
| | (11 | ) | | — |
| | — |
| | 990 |
| | (11 | ) | Total | $ | 20,689 |
| | $ | (161 | ) | | $ | 7,779 |
| | $ | (192 | ) | | $ | 28,468 |
| | $ | (353 | ) |
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| Schedule of Available for Sale Securities by Contractual Mataurity |
The contractual maturities of securities available-for-sale at December 31, 2016 and 2015 are listed below. Expected maturities of mortgage-backed securities may differ from contractual maturities because borrowers may have the right to call or prepay the obligations; therefore, these securities are classified separately with no specific maturity date. | | | | | | | | | | | | | | | | | | December 31, 2016 | | December 31, 2015 | U.S. agency securities | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | Due after one year through five years | $ | 4,000 |
| | $ | 3,956 |
| | $ | — |
| | $ | — |
| Due after five years through ten years | 4,150 |
| | 4,112 |
| | 6,134 |
| | 6,035 |
| Subtotal | 8,150 |
| | 8,068 |
| | 6,134 |
| | 6,035 |
| Corporate securities | | | | | | | | Due after one year through five years | 5,659 |
| | 5,625 |
| | 1,500 |
| | 1,490 |
| Due after five years through ten years | 1,995 |
| | 1,875 |
| | 1,995 |
| | 1,943 |
| Subtotal | 7,654 |
| | 7,500 |
| | 3,495 |
| | 3,433 |
| Municipal bonds | | | | | | | | Due in one year or less | 509 |
| | 513 |
| | 991 |
| | 997 |
| Due after one year through five years | 5,326 |
| | 5,386 |
| | 3,904 |
| | 3,954 |
| Due after five years through ten years | 7,476 |
| | 7,492 |
| | 7,807 |
| | 7,981 |
| Due after ten years | 1,872 |
| | 1,873 |
| | 5,829 |
| | 5,959 |
| Subtotal | 15,183 |
| | 15,264 |
| | 18,531 |
| | 18,891 |
| Mortgage-backed securities | | | | | | | | Federal National Mortgage Association (“FNMA”) | 23,522 |
| | 23,197 |
| | 12,515 |
| | 12,466 |
| Federal Home Loan Mortgage Corporation (“FHLMC”) | 14,950 |
| | 14,662 |
| | 4,524 |
| | 4,501 |
| Government National Mortgage Association (“GNMA”) | 7,384 |
| | 7,336 |
| | 5,887 |
| | 5,868 |
| Subtotal | 45,856 |
| | 45,195 |
| | 22,926 |
| | 22,835 |
| U.S. Small Business Administration securities | | | | | | | | Due after five years through ten years | 5,862 |
| | 5,848 |
| | 4,011 |
| | 4,023 |
| Total | $ | 82,705 |
| | $ | 81,875 |
| | $ | 55,097 |
| | $ | 55,217 |
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| Schedule of Realized Gain (Loss) |
The proceeds and resulting gains and losses, computed using specific identification from sales of securities available-for-sale for the years ended December 31, 2016 and 2015 were as follows: | | | | | | | | | | | | | | December 31, 2016 | | Proceeds | | Gross Gains | | Gross Losses | Securities available-for-sale | $ | 13,577 |
| | $ | 149 |
| | $ | (3 | ) | | | | | | | | December 31, 2015 | | Proceeds | | Gross Gains | | Gross Losses | Securities available-for-sale | $ | 4,178 |
| | $ | 76 |
| | $ | — |
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