Securities Available-for-Sale (Tables)

9 Months Ended

Sep. 30, 2019

Text Block [Abstract]

Summary of Securities Available-for-Sale

	September 30, 2019								December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
U.S. Treasury	$	—	$	—	$	—	$	—	$	2,000	$	—	$	8	$	1,992
U.S. Government Sponsored Enterprises		—		—		—		—		3,946		—		31		3,915
SBA Backed Securities		58,714		51		101		58,664		70,477		1		284		70,194
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		170,532		189		439		170,282		162,604		536		250		162,890
Privately Issued Residential Mortgage-Backed Securities		574		6		1		579		679		3		10		672
Obligations Issued by States and Political Subdivisions		28,519		57		—		28,576		93,445		58		—		93,503
Other Debt Securities		3,600		64		26		3,638		3,600		37		44		3,593
Total	$	261,939	$	367	$	567	$	261,739	$	336,751	$	635	$	627	$	336,759

Estimated Maturity Distribution of Securities Available-for-Sale

The following table shows the maturity distribution of the Company’s securities available-for-sale at September 30, 2019.

	Amortized Cost		Fair Value
	(in thousands)
Within one year	$	26,187	$	26,184
After one but within five years		134,881		134,811
After five but within ten years		85,551		85,378
More than 10 years		15,320		15,366
Total	$	261,939	$	261,739

Continuous Unrealized Loss Position for 12 Months or Less and 12 Months and Longer

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at September 30, 2019. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for less than 12 months and a continuous loss position for 12 months or longer. There are 24 and 18 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 134 holdings at September 30, 2019.

	September 30, 2019
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises		—		—		—		—		—		—
SBA Backed Securities		11,133		11		24,944		90		36,077		101
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		81,305		264		27,872		175		109,177		439
Privately Issued Residential Mortgage-Backed Securities		—		—		282		1		282		1
Obligations Issued by States and Political Subdivisions		—		—		—		—		—		—
Other Debt Securities		800		1		475		25		1,275		26
Total temporarily impaired securities	$	93,238	$	276	$	53,573	$	291	$	146,811	$	567

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at December 31, 2018. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for less than 12 months and a continuous loss position for 12 months or longer. There are 10 and 30 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 190 holdings at December 31, 2018.

	December 31, 2018
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
U.S. Treasury	$	—	$	—	$	1,992	$	8	$	1,992	$	8
U.S. Government Sponsored Enterprises		3,914		31		—		—		3,914		31
SBA Backed Securities		17,950		28		44,323		256		62,273		284
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		19,244		21		45,782		229		65,026		250
Privately Issued Residential Mortgage-Backed Securities		—		—		495		10		495		10
Obligations Issued by States and Political Subdivisions		—		—		—		—		—		—
Other Debt Securities		—		—		455		44		455		44
Total temporarily impaired securities	$	41,108	$	80	$	93,047	$	547	$	134,155	$	627