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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2016
Marketable Securities [Abstract]  
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block]
The following is a summary of available-for-sale and held-to-maturity securities:
 
 
 
Amortized
Cost
 
 
Gross
Unrealized
Gains
 
 
Gross
Unrealized
Losses
 
 
Fair Value
 
At September 30, 2016
 
(In Thousands)
 
Available-for-Sale Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
2,000
 
 
$
1
 
 
$
-
 
 
$
2,001
 
Mortgage-backed securities – residential
 
 
64,600
 
 
 
1,996
 
 
 
(5
)
 
 
66,591
 
REMICs
 
 
1,382
 
 
 
27
 
 
 
-
 
 
 
1,409
 
Collateralized mortgage obligations
 
 
65,640
 
 
 
1,393
 
 
 
(35
)
 
 
66,998
 
Preferred stock
 
 
-
 
 
 
1
 
 
 
-
 
 
 
1
 
Corporate bonds
 
 
10,910
 
 
 
53
 
 
 
(5
)
 
 
10,958
 
Obligations of state and political subdivisions
 
 
81,403
 
 
 
4,869
 
 
 
(7
)
 
 
86,265
 
Totals
 
$
225,935
 
 
$
8,340
 
 
$
(52
)
 
$
234,223
 
 
 
 
Amortized
Cost
 
 
Gross
Unrecognized
Gains
 
 
Gross
Unrecognized
Losses
 
 
Fair Value
 
 
 
(In Thousands)
 
Held-to-Maturity Securities*:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC certificates
 
$
12
 
 
$
-
 
 
$
-
 
 
$
12
 
FNMA certificates
 
 
61
 
 
 
2
 
 
 
-
 
 
 
63
 
GNMA certificates
 
 
25
 
 
 
-
 
 
 
-
 
 
 
25
 
Obligations of state and political subdivisions
 
 
93
 
 
 
-
 
 
 
-
 
 
 
93
 
Totals
 
$
191
 
 
$
2
 
 
$
-
 
 
$
193
 
 
 
 
Amortized
Cost
 
 
Gross
Unrealized
Gains
 
 
Gross
Unrealized
Losses
 
 
Fair Value
 
At December 31, 2015
 
(In Thousands)
 
Available-for-Sale Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
3,000
 
 
$
1
 
 
$
(7
)
 
$
2,994
 
Mortgage-backed securities - residential
 
 
63,815
 
 
 
898
 
 
 
(59
)
 
 
64,654
 
REMICs
 
 
1,592
 
 
 
28
 
 
 
-
 
 
 
1,620
 
Collateralized mortgage obligations
 
 
71,176
 
 
 
976
 
 
 
(353
)
 
 
71,799
 
Preferred stock
 
 
-
 
 
 
1
 
 
 
-
 
 
 
1
 
Corporate bonds
 
 
4,955
 
 
 
39
 
 
 
(17
)
 
 
4,977
 
Obligations of state and political subdivisions
 
 
85,680
 
 
 
4,712
 
 
 
(2
)
 
 
90,390
 
Total Available-for-Sale
 
$
230,218
 
 
$
6,655
 
 
$
(438
)
 
$
236,435
 
 
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrecognized
 
Unrecognized
 
Fair
 
 
Cost
 
Gains
 
Losses
 
Value
 
 
(In Thousands)
Held-to-Maturity Securities*:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC certificates
 
$
14
 
 
$
—  
 
 
$
—  
 
 
$
14
 
FNMA certificates
 
 
74
 
 
 
2
 
 
 
(1
)
 
 
75
 
GNMA certificates
 
 
31
 
 
 
1
 
 
 
—  
 
 
 
32
 
Obligations of states and political subdivisions
 
 
124
 
 
 
—  
 
 
 
—  
 
 
 
124
 
Total Held-to-Maturity
 
$
243
 
 
$
3
 
 
$
(1
)
 
$
245
 
 
* FHLMC, FNMA, and GNMA certificates are residential mortgage-backed securities.
Investments Classified by Contractual Maturity Date [Table Text Block]
The amortized cost and fair value of the investment securities portfolio at September 30, 2016 are shown below by contractual maturity. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity table, mortgage-backed securities (“MBS”), collateralized mortgage obligations (“CMO”) and REMICs, which are not due at a single maturity date, have not been allocated over the maturity groupings. These securities may mature earlier than their weighted-average contractual maturities because of principal prepayments.
 
 
 
Available-for-Sale
 
 
Held-to-Maturity
 
 
 
Amortized
 
 
Fair
 
 
Amortized
 
 
Fair
 
 
 
Cost
 
 
Value
 
 
Cost
 
 
Value
 
 
 
(In Thousands)
 
Due in one year or less
 
$
752
 
 
$
756
 
 
$
-
 
 
$
-
 
Due after one year through five years
 
 
19,083
 
 
 
19,426
 
 
 
93
 
 
 
93
 
Due after five years through ten years
 
 
32,492
 
 
 
34,459
 
 
 
-
 
 
 
-
 
Due after ten years
 
 
41,986
 
 
 
44,584
 
 
 
-
 
 
 
-
 
MBS/CMO/REMICS
 
 
131,622
 
 
 
134,998
 
 
 
98
 
 
 
100
 
 
 
$
225,935
 
 
$
234,223
 
 
$
191
 
 
$
193
 
Unrealized Gain (Loss) on Investments [Table Text Block]
The following tables summarize First Defiance’s securities that were in an unrealized loss position at September 30, 2016 and December 31, 2015:
 
 
 
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 September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
2,048
 
 
$
(5
)
 
$
-
 
 
$
-
 
 
$
2,048
 
 
$
(5
)
Collateralized mortgage obligations
 
 
4,092
 
 
 
(15
)
 
 
1,312
 
 
 
(20
)
 
 
5,404
 
 
 
(35
)
Obligations of state and political subdivisions
 
 
804
 
 
 
(7
)
 
 
-
 
 
 
-
 
 
 
804
 
 
 
(7
)
Corporate bonds
 
 
2,010
 
 
 
(2
)
 
 
997
 
 
 
(3
)
 
 
3,007
 
 
 
(5
)
Held to maturity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FHLMC/FNMA certificates
 
 
13
 
 
 
-
 
 
 
8
 
 
 
-
 
 
 
21
 
 
 
-
 
Total temporarily impaired securities
 
$
8,967
 
 
$
(29
)
 
$
2,317
 
 
$
(23
)
 
$
11,284
 
 
$
(52
)
 
 
 
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, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S. government corporations and agencies
 
$
993
 
 
$
(7
)
 
$
-
 
 
$
-
 
 
$
993
 
 
$
(7
)
Collateralized mortgage obligations
 
 
12,374
 
 
 
(150
)
 
 
8,158
 
 
 
(203
)
 
 
20,532
 
 
 
(353
)
Corporate bonds
 
 
983
 
 
 
(17
)
 
 
-
 
 
 
-
 
 
 
983
 
 
 
(17
)
Obligations of state and political subdivisions
 
 
-
 
 
 
-
 
 
 
433
 
 
 
(2
)
 
 
433
 
 
 
(2
)
Mortgage-backed securities-residential
 
 
12,525
 
 
 
(59
)
 
 
-
 
 
 
-
 
 
 
12,525
 
 
 
(59
)
Held to maturity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FNMA certificates
 
 
13
 
 
 
(1
)
 
 
-
 
 
 
-
 
 
 
13
 
 
 
(1
)
Total temporarily impaired securities
 
$
26,888
 
 
$
(234
)
 
$
8,591
 
 
$
(205
)
 
$
35,479
 
 
$
(439
)
Marketable Securities [Table Text Block]
The proceeds from the sales and calls of securities and the associated gains and losses are listed below:
 
 
 
Three Months Ended
September 30,
 
 
Nine Months Ended
September 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
 
 
(In Thousands)
 
Proceeds
 
$
6,356
 
 
$
-
 
 
$
14,871
 
 
$
-
 
Gross realized gains
 
 
151
 
 
 
-
 
 
 
509
 
 
 
-
 
Gross realized losses
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-