Investment Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Investment Securities

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

	March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Obligations of state and political subdivisions	$	20,943	$	75	$	825	$	20,193
GSE mortgage-backed securities	55,926		561		976		55,511
Collateralized mortgage obligations: residential	194,647		103		6,743		188,007
Collateralized mortgage obligations: commercial	2,230		—		47		2,183
Mutual funds	2,100		—		74		2,026
Corporate debt securities	25,565		579		94		26,050
	$	301,411	$	1,318	$	8,759	$	293,970
	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Obligations of state and political subdivisions	$	23,042	$	209	$	442	$	22,809
GSE mortgage-backed securities	58,620		825		321		59,124
Collateralized mortgage obligations: residential	202,573		90		4,508		198,155
Collateralized mortgage obligations: commercial	2,274		—		34		2,240
Mutual funds	2,100		—		39		2,061
Corporate debt securities	23,975		837		10		24,802
	$	312,584	$	1,961	$	5,354	$	309,191

Schedule of Held-to-Maturity Securities

	March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	30,550	$	162	$	113	$	30,599
GSE mortgage-backed securities	33,930		—		598		33,332
Collateralized mortgage obligations: residential	7,120		—		387		6,733
Collateralized mortgage obligations: commercial	1,655		—		12		1,643
	$	73,255	$	162	$	1,110	$	72,307
	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	35,908	$	265	$	22	$	36,151
GSE mortgage-backed securities	35,751		171		219		35,703
Collateralized mortgage obligations: residential	7,450		—		321		7,129
Collateralized mortgage obligations: commercial	1,943		—		6		1,937
	$	81,052	$	436	$	568	$	80,920

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 March 31, 2018 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	$	—	$	—
Due after one year through five years	7,124		7,116
Due after five years through ten years	43,042		43,443
Due after ten years	249,145		241,385
	$	299,311	$	291,944
	Amortized Cost		Fair Value
Held-to-maturity:
Due in one year or less	$	1,392	$	1,389
Due after one year through five years	5,061		5,023
Due after five years through ten years	45,316		44,731
Due after ten years	21,486		21,164
	$	73,255	$	72,307

Schedule of Investment Securities with Unrealized Losses

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

	March 31, 2018
	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	$	1,622	$	28	$	12,343	$	797	$	13,965	$	825
GSE mortgage-backed  securities	35,985		791		5,568		185		41,553		976
Collateralized mortgage  obligations: residential	54,829		1,208		130,399		5,535		185,228		6,743
Collateralized mortgage  obligations: commercial	—		—		2,183		47		2,183		47
Mutual funds	2,026		74		—		—		2,026		74
Corporate debt securities	4,496		94		—		—		4,496		94
	$	98,958	$	2,195	$	150,493	$	6,564	$	249,451	$	8,759
	December 31, 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	$	596	$	5	$	12,716	$	437	$	13,312	$	442
GSE mortgage-backed  securities	29,725		224		5,858		97		35,583		321
Collateralized mortgage  obligations: residential	57,665		548		137,598		3,960		195,263		4,508
Collateralized mortgage  obligations: commercial	—		—		2,240		34		2,240		34
Mutual funds	2,061		39		—		—		2,061		39
Corporate debt securities	2,990		10		—		—		2,990		10
	$	93,037	$	826	$	158,412	$	4,528	$	251,449	$	5,354

	March 31, 2018
	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	$	9,893	$	113	$	—	$	—	$	9,893	$	113
GSE mortgage-backed securities	$	28,673	$	380	$	4,658	$	218	$	33,331	$	598
Collateralized mortgage obligations: residential	$	—	$	—	$	6,734	$	387	$	6,734	$	387
Collateralized mortgage obligations: commercial	1,643		12		—		—		1,643		12
	$	40,209	$	505	$	11,392	$	605	$	51,601	$	1,110
	December 31, 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:
Obligations of state and political subdivisions	$	6,340	$	22	$	—	$	—	$	6,340	$	22
GSE mortgage-backed securities	11,201		89		4,961		130		16,162		219
Collateralized mortgage obligations: residential	—		—		7,129		321		7,129		321
Collateralized mortgage obligations: commercial	1,937		6		—		—		1,937		6
	$	19,478	$	117	$	12,090	$	451	$	31,568	$	568