Securities Available for Sale and Securities Held to Maturity (Tables)

9 Months Ended

Sep. 30, 2014

Securities Available for Sale and Securities Held to Maturity [Abstract]

Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities Available for Sale and Securities Held to Maturity


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2014	Cost		Gains		Losses		Value
Securities available for sale:
Asset-backed securities	$	19,419	$	90	$	6	$	19,503
U.S. agency mortgage-backed securities		18,001		215		15		18,201
Corporate debt securities		7,644		46		6		7,684
U.S. agency notes		3,990		-		67		3,923
Certificates of deposit		1,533		1		-		1,534
Non-agency residential mortgage-backed securities		543		19		24		538
Treasury securities		499		1		-		500
Non-agency commercial mortgage-backed securities		311		7		-		318
Total securities available for sale	$	51,940	$	379	$	118	$	52,201
Securities held to maturity:
U.S. agency mortgage-backed securities	$	33,005	$	316	$	357	$	32,964
Non-agency commercial mortgage-backed securities		1,002		4		31		975
Total securities held to maturity	$	34,007	$	320	$	388	$	33,939


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2013	Cost		Gains		Losses		Value
Securities available for sale:
U.S. agency mortgage-backed securities	$	18,554	$	140	$	49	$	18,645
Asset-backed securities		15,201		42		37		15,206
Corporate debt securities		8,973		49		15		9,007
U.S. agency notes		4,239		1		104		4,136
Certificates of deposit		3,650		4		2		3,652
Non-agency residential mortgage-backed securities		616		11		34		593
Non-agency commercial mortgage-backed securities		271		8		-		279
Other securities		100		-		-		100
Total securities available for sale	$	51,604	$	255	$	241	$	51,618
Securities held to maturity:
U.S. agency mortgage-backed securities	$	29,260	$	161	$	921	$	28,500
Non-agency commercial mortgage-backed securities		958		-		68		890
Other securities		100		-		-		100
Total securities held to maturity	$	30,318	$	161	$	989	$	29,490

Securities with Unrealized Losses, Aggregated by Category and Period of Continuous Unrealized Loss


	Less than				12 months
	12 months				or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2014	Value		Losses		Value		Losses		Value		Losses
Securities available for sale:
Asset-backed securities	$	1,928	$	4	$	841	$	2	$	2,769	$	6
U.S agency mortgage-backed securities		2,414		6		1,629		9		4,043		15
Corporate debt securities		1,010		1		616		5		1,626		6
U.S. agency notes		249		1		3,674		66		3,923		67
Non-agency residential mortgage-backed
securities		25		1		311		23		336		24
Total	$	5,626	$	13	$	7,071	$	105	$	12,697	$	118
Securities held to maturity:
U.S. agency mortgage-backed securities	$	4,421	$	17	$	11,565	$	340	$	15,986	$	357
Non-agency commercial mortgage-backed
securities		163		2		645		29		808		31
Total	$	4,584	$	19	$	12,210	$	369	$	16,794	$	388
Total securities with unrealized losses (1)	$	10,210	$	32	$	19,281	$	474	$	29,491	$	506

(1)	The number of investment positions with unrealized losses totaled 209 for securities available for sale and 144 for securities held to maturity.


	Less than				12 months
	12 months				or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2013	Value		Losses		Value		Losses		Value		Losses
Securities available for sale:
U.S. agency mortgage-backed securities	$	5,044	$	47	$	93	$	2	$	5,137	$	49
Asset-backed securities		6,391		33		591		4		6,982		37
Corporate debt securities		1,802		14		499		1		2,301		15
U.S. agency notes		3,636		104		-		-		3,636		104
Certificates of deposit		-		-		299		2		299		2
Non-agency residential mortgage-backed
securities		89		2		374		32		463		34
Total	$	16,962	$	200	$	1,856	$	41	$	18,818	$	241
Securities held to maturity:
U.S. agency mortgage-backed securities	$	19,175	$	698	$	2,345	$	223	$	21,520	$	921
Non-agency commercial mortgage-backed
securities		630		43		260		25		890		68
Total	$	19,805	$	741	$	2,605	$	248	$	22,410	$	989
Total securities with unrealized losses (1)	$	36,767	$	941	$	4,461	$	289	$	41,228	$	1,230

(1)	The number of investment positions with unrealized losses totaled 273 for securities available for sale and 193 for securities held to maturity.

Rollforward Amount of Credit Losses Recognized in Earnings for OTTI Securities for Portion of Impairment Recognized in or Reclassified From Other Comprehensive Income


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Balance at beginning of period	$	169	$	166	$	169	$	159
Credit losses recognized into current period earnings on debt securities for
which an other-than-temporary impairment was not previously recognized		1		-		1		1
Credit losses recognized into current period earnings on debt securities for
which an other-than-temporary impairment was previously recognized		-		1		-		7
Balance at end of period	$	170	$	167	$	170	$	167

Maturities of Securities Available for Sale and Securities Held to Maturity


			After 1 year		After 5 years
	Within		through		through		After
	1 year		5 years		10 years		10 years		Total
Securities available for sale:
Asset-backed securities	$	-	$	2,666	$	5,148	$	11,689	$	19,503
U.S. agency mortgage-backed securities (1)		-		1,312		4,425		12,464		18,201
Corporate debt securities		741		6,893		50		-		7,684
U.S. agency notes		-		3,923		-		-		3,923
Certificates of deposit		384		1,150		-		-		1,534
Non-agency residential mortgage-backed
securities (1)		-		2		-		536		538
Treasury securities		-		500		-		-		500
Non-agency commercial mortgage-backed
securities (1)		-		-		-		318		318
Total fair value	$	1,125	$	16,446	$	9,623	$	25,007	$	52,201
Total amortized cost	$	1,121	$	16,460	$	9,533	$	24,826	$	51,940
Securities held to maturity:
U.S. agency mortgage-backed securities (1)	$	-	$	853	$	14,390	$	17,721	$	32,964
Non-agency commercial mortgage-backed
securities (1)		-		-		352		623		975
Total fair value	$	-	$	853	$	14,742	$	18,344	$	33,939
Total amortized cost	$	-	$	854	$	14,827	$	18,326	$	34,007

(1)	Mortgage-backed securities have been allocated to maturity groupings based on final contractual maturities. Actual maturities will differ from final contractual maturities because borrowers on a certain portion of loans underlying these securities have the right to prepay their obligations.

Proceeds and Gross Realized Gains from Sales of Securities Available for Sale


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Proceeds	$	3,679	$	1,661	$	5,724	$	4,665
Gross realized gains	$	12	$	2	$	14	$	5

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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