Investment Securities (Tables)

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Investment Securities

The portfolio of investment securities consisted of the following (in thousands):

	September 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Obligations of state and political subdivisions	$	23,929	$	233	$	352	$	23,810
GSE mortgage-backed securities	61,578		1,304		22		62,860
Collateralized mortgage obligations: residential	211,808		359		1,958		210,209
Collateralized mortgage obligations: commercial	2,499		—		27		2,472
Mutual funds	2,100		—		21		2,079
Corporate debt securities	23,974		822		4		24,792
	$	325,888	$	2,718	$	2,384	$	326,222

	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Obligations of state and political subdivisions	$	29,935	$	226	$	1,020	$	29,141
GSE mortgage-backed securities	72,144		1,736		302		73,578
Collateralized mortgage obligations: residential	223,602		206		3,606		220,202
Collateralized mortgage obligations: commercial	3,135		—		53		3,082
Mutual funds	2,100		—		41		2,059
Corporate debt securities	13,500		311		—		13,811
	$	344,416	$	2,479	$	5,022	$	341,873

Schedule of Held-to-Maturity Securities

	September 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	36,080	$	658	$	—	$	36,738
GSE mortgage-backed securities	37,729		524		59		38,194
Collateralized mortgage obligations: residential	7,819		—		223		7,596
Collateralized mortgage obligations: commercial	2,111		—		—		2,111
	$	83,739	$	1,182	$	282	$	84,639
	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	40,515	$	309	$	39	$	40,785
GSE mortgage-backed securities	44,375		426		311		44,490
Collateralized mortgage obligations: residential	8,969		—		323		8,646
Collateralized mortgage obligations: commercial	4,352		—		12		4,340
	$	98,211	$	735	$	685	$	98,261

Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The following table presents the amortized cost and fair value of debt securities at September 30, 2017 by contractual maturity (in thousands).   Actual maturities will differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and collateralized mortgage obligations.

	Amortized Cost		Fair Value
Available-for-sale:
Due in one year or less	$	1,136	$	1,139
Due after one year through five years	10,315		10,513
Due after five years through ten years	43,777		45,080
Due after ten years	268,560		267,411
	$	323,788	$	324,143
	Amortized Cost		Fair Value
Held-to-maturity:
Due in one year or less	$	1,204	$	1,206
Due after one year through five years	5,413		5,465
Due after five years through ten years	43,555		44,335
Due after ten years	33,567		33,633
	$	83,739	$	84,639

Schedule of Investment Securities with Unrealized Losses

Details concerning investment securities with unrealized losses are as follows (in thousands):

	September 30, 2017
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized  Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Available-for-sale:
Obligations of state and  political subdivisions	$	8,092	$	141	$	5,324	$	211	$	13,416	$	352
GSE mortgage-backed  securities	6,168		22		—		—		6,168		22
Collateralized mortgage  obligations: residential	118,195		1,153		45,344		805		163,539		1,958
Collateralized mortgage  obligations: commercial	—		—		2,472		27		2,472		27
Mutual funds	2,079		21		—		—		2,079		21
Corporate debt securities	2,995		4		—		—		2,995		4
	$	137,529	$	1,341	$	53,140	$	1,043	$	190,669	$	2,384
	December 31, 2016
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Available-for-sale:
Obligations of state and political subdivisions	$	13,402	$	1,020	$	—	$	—	$	13,402	$	1,020
GSE mortgage-backed  securities	29,119		302		—		—		29,119		302
Collateralized mortgage  obligations: residential	187,235		3,099		14,194		507		201,429		3,606
Collateralized mortgage  obligations: commercial	961		4		2,121		49		3,082		53
Mutual funds	2,059		41		—		—		2,059		41
	$	232,776	$	4,466	$	16,315	$	556	$	249,091	$	5,022

	September 30, 2017
	Securities with losses under 12 months				Securities with losses over 12 months					Total
	Fair Value		Gross Unrealized Loss		Fair Value			Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Held-to-maturity:
GSE mortgage-backed securities	$	5,287	$	59	$	—		$	—	$	5,287	$	59
Collateralized mortgage obligations: residential	—		—		7,596		—	223		7,596		223
	$	5,287	$	59	$	7,596		$	223	$	12,883	$	282
	December 31, 2016
	Securities with losses under 12 months				Securities with losses over 12 months					Total
	Fair Value		Gross Unrealized Loss		Fair Value			Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Held-to-maturity:
Obligations of state and political subdivisions	$	8,054	$	39	$	—		$	—	$	8,054	$	39
GSE mortgage-backed securities	19,408		311		—			—		19,408		311
Collateralized mortgage obligations: residential	—		—		8,645			323		8,645		323
Collateralized mortgage obligations: commercial	4,340		12		—			—		4,340		12
	$	31,802	$	362	$	8,645		$	323	$	40,447	$	685