Investment Securities (Tables)

6 Months Ended

Jun. 30, 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):

	June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Obligations of state and political subdivisions	$	20,473	$	82	$	746	$	19,809
GSE mortgage-backed securities	53,195		416		1,093		52,518
Collateralized mortgage obligations: residential	215,868		85		7,239		208,714
Collateralized mortgage obligations: commercial	2,149		—		48		2,101
Corporate debt securities	25,566		336		107		25,795
	$	317,251	$	919	$	9,233	$	308,937
	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

	June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	27,486	$	169	$	95	$	27,560
GSE mortgage-backed securities	31,978		—		687		31,291
Collateralized mortgage obligations: residential	6,833		—		394		6,439
Collateralized mortgage obligations: commercial	1,480		—		12		1,468
	$	67,777	$	169	$	1,188	$	66,758
	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 June 30, 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	8,672		8,638
Due after five years through ten years	47,548		47,394
Due after ten years	261,031		252,905
	$	317,251	$	308,937
	Amortized Cost		Fair Value
Held-to-maturity:
Due in one year or less	$	515	$	515
Due after one year through five years	5,044		5,006
Due after five years through ten years	43,312		42,639
Due after ten years	18,906		18,598
	$	67,777	$	66,758

Schedule of Investment Securities with Unrealized Losses

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

	June 30, 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	$	576	$	24	$	12,405	$	722	$	12,981	$	746
GSE mortgage-backed  securities	34,138		893		5,344		200		39,482		1,093
Collateralized mortgage  obligations: residential	82,531		1,430		124,108		5,809		206,639		7,239
Collateralized mortgage  obligations: commercial	—		—		2,101		48		2,101		48
Corporate debt securities	6,483		107		—		—		6,483		107
	$	123,728	$	2,454	$	143,958	$	6,779	$	267,686	$	9,233
	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

	June 30, 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	$	6,318	$	95	$	—	$	—	$	6,318	$	95
GSE mortgage-backed securities	$	26,853	$	475	$	4,438	$	212	$	31,291	$	687
Collateralized mortgage obligations: residential	$	—	$	—	$	6,439	$	394	$	6,439	$	394
Collateralized mortgage obligations: commercial	1,468		12		—		—		1,468		12
	$	34,639	$	582	$	10,877	$	606	$	45,516	$	1,188
	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