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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2014
Marketable Securities [Abstract]  
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block]
The following tables summarize the amortized cost and fair value of available-for-sale securities and held-to-maturity investment securities at December 31, 2014 and 2013 and the corresponding amounts of gross unrealized gains and losses:
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In Thousands)
 
2014
 
 
 
 
 
 
 
 
 
Available-for-sale
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
1,000
 
$
-
 
$
(20)
 
$
980
 
Mortgage-backed securities - residential
 
 
58,380
 
 
1,476
 
 
-
 
 
59,856
 
REMICs
 
 
1,820
 
 
19
 
 
-
 
 
1,839
 
Collateralized mortgage obligations
 
 
80,252
 
 
1,280
 
 
(411)
 
 
81,121
 
Trust preferred stock and preferred stock
 
 
-
 
 
1
 
 
-
 
 
1
 
Corporate bonds
 
 
6,913
 
 
85
 
 
(6)
 
 
6,992
 
Obligations of state and political subdivisions
 
 
83,732
 
 
4,827
 
 
(27)
 
 
88,532
 
Total Available-for-Sale
 
$
232,097
 
$
7,688
 
$
(464)
 
$
239,321
 
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrecognized
 
Unrecognized
 
Fair
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In Thousands)
 
Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC certificates
 
$
26
 
$
-
 
$
(8)
 
$
18
 
FNMA certificates
 
 
93
 
 
2
 
 
-
 
 
95
 
GNMA certificates
 
 
39
 
 
1
 
 
-
 
 
40
 
Obligations of states and political subdivisions
 
 
155
 
 
-
 
 
-
 
 
155
 
Total Held-to-Maturity
 
$
313
 
$
3
 
$
(8)
 
$
308
 
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In Thousands)
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
5,000
 
$
-
 
$
(79)
 
$
4,921
 
Mortgage-backed securities - residential
 
 
41,368
 
 
765
 
 
(841)
 
 
41,292
 
Collateralized mortgage obligations
 
 
59,865
 
 
739
 
 
(763)
 
 
59,841
 
Trust preferred stock and preferred stock
 
 
3,264
 
 
683
 
 
(993)
 
 
2,954
 
Corporate bonds
 
 
8,854
 
 
129
 
 
(41)
 
 
8,942
 
Obligations of state and political subdivisions
 
 
78,426
 
 
2,704
 
 
(910)
 
 
80,220
 
Total Available-for-Sale
 
$
196,777
 
$
5,020
 
$
(3,627)
 
$
198,170
 
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrecognized
 
Unrecognized
 
Fair
 
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
 
(In Thousands)
 
Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC certificates
 
$
31
 
$
-
 
$
-
 
$
31
 
FNMA certificates
 
 
120
 
 
4
 
 
-
 
 
124
 
GNMA certificates
 
 
50
 
 
2
 
 
-
 
 
52
 
Obligations of states and political subdivisions
 
 
186
 
 
-
 
 
-
 
 
186
 
Total Held-to-Maturity
 
$
387
 
$
6
 
$
-
 
$
393
 
Investments Classified by Contractual Maturity Date [Table Text Block]
For purposes of the maturity tables below, mortgage-backed securities and collateralized mortgage obligations, which are not due at a single maturity date, have not been allocated over maturity groupings.
 
 
 
Available-for-Sale
 
 
 
Amortized
 
Fair
 
 
 
Cost
 
Value
 
 
 
(In Thousands)
 
2014
 
 
 
 
 
 
 
Available-for-sale
 
 
 
 
 
 
 
Due in one year or less
 
$
2,004
 
$
2,017
 
Due after one year through five years
 
 
9,714
 
 
10,066
 
Due after five years through ten years
 
 
38,648
 
 
40,861
 
Due after ten years
 
 
41,279
 
 
43,561
 
MBS/CMO/REMIC
 
 
140,452
 
 
142,816
 
Total
 
$
232,097
 
$
239,321
 
 
 
 
 
 
 
 
 
Held-to-maturity
 
 
 
 
 
 
 
Due after five years through ten years
 
$
155
 
$
155
 
MBS/CMO
 
 
158
 
 
153
 
Total
 
$
313
 
$
308
 
Unrealized Gain (Loss) on Investments [Table Text Block]
The following table summarizes First Defiance’s securities that were in an unrealized loss position at December 31, 2014 and December 31, 2013:
 
 
 
Duration of Unrealized Loss Position
 
 
 
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
 
 
 
 
Gross
 
 
 
Gross
 
 
 
 
 
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
 
 
Value
 
Loss
 
Value
 
Loss
 
Value
 
Loses
 
 
 
(In Thousands)
 
At December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
-
 
$
-
 
$
980
 
$
(20)
 
$
980
 
$
(20)
 
Collateralized mortgage obligations
 
 
4,466
 
 
(138)
 
 
14,633
 
 
(273)
 
 
19,099
 
 
(411)
 
Corporate bonds
 
 
-
 
 
-
 
 
994
 
 
(6)
 
 
994
 
 
(6)
 
Obligations of state and political subdivisions
 
 
1,194
 
 
(8)
 
 
1,499
 
 
(19)
 
 
2,693
 
 
(27)
 
Held to maturity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC certificates
 
 
18
 
 
(8)
 
 
-
 
 
-
 
 
18
 
 
(8)
 
Total temporarily impaired securities
 
$
5,678
 
$
(154)
 
$
18,106
 
$
(318)
 
$
23,784
 
$
(472)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
4,921
 
$
(79)
 
$
-
 
$
-
 
$
4,921
 
$
(79)
 
Mortgage-backed securities - residential
 
 
24,846
 
 
(841)
 
 
-
 
 
-
 
 
24,846
 
 
(841)
 
Collateralized mortgage obligations
 
 
26,530
 
 
(763)
 
 
-
 
 
-
 
 
26,530
 
 
(763)
 
Corporate bonds
 
 
2,959
 
 
(41)
 
 
-
 
 
-
 
 
2,959
 
 
(41)
 
Obligations of state and political subdivisions
 
 
19,209
 
 
(871)
 
 
375
 
 
(39)
 
 
19,584
 
 
(910)
 
Trust preferred stock and preferred stock
 
 
-
 
 
-
 
 
582
 
 
(993)
 
 
582
 
 
(993)
 
Total temporarily impaired securities
 
$
78,465
 
$
(2,595)
 
$
957
 
$
(1,032)
 
$
79,422
 
$
(3,627)
 
Schedule of Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]
The table below presents a roll-forward of the credit losses relating to debt securities recognized in earnings for the years ended December 31, 2014, 2013 and 2012 (In Thousands):
  
 
 
2014
 
2013
 
2012
 
Beginning balance, January 1
 
$
3,513
 
$
3,176
 
$
3,251
 
Additions for amounts related to credit loss for which an OTTI
 
 
 
 
 
 
 
 
 
 
was not previously recognized
 
 
-
 
 
337
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Reductions for amounts realized for securities sold/redeemed during the period
 
 
(3,513)
 
 
-
 
 
(80)
 
 
 
 
 
 
 
 
 
 
 
 
Reductions for amounts related to securities for which the Company
 
 
 
 
 
 
 
 
 
 
intends to sell or that it will be more likely than not that the Company
 
 
 
 
 
 
 
 
 
 
will be required to sell prior to recovery of amortized cost basis
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Reductions for increase in cash flows expected to be collected that are
 
 
 
 
 
 
 
 
 
 
Recognized over the remaining life of the security
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Increases to the amount related to the credit loss for which
 
 
 
 
 
 
 
 
 
 
Other-than-temporary was previously recognized
 
 
-
 
 
-
 
 
5
 
 
 
 
 
 
 
 
 
 
 
 
Ending balance, December 31
 
$
-
 
$
3,513
 
$
3,176
 
Marketable Securities [Table Text Block]
The proceeds from sales and calls of securities and the associated gains and losses are listed below:
 
 
 
2014
 
2013
 
2012
 
 
 
(In Thousands)
 
Proceeds
 
$
14,913
 
$
4,027
 
$
72,262
 
Gross realized gains
 
 
1,574
 
 
97
 
 
2,163
 
Gross realized losses
 
 
(642)
 
 
-
 
 
(24)