XML 87 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
Securities (Tables)
 9 Months Ended
Sep. 30, 2014
Investments Debt And Equity Securities [Abstract]  
Schedule of Amortized Cost of Securities and Their Approximate Fair Values

Securities have been classified in the financial statements as available for sale or held to maturity. The amortized cost of securities and their approximate fair values at September 30, 2014 and December 31, 2013 are as follows:

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

September 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

90,577

 

 

$

212

 

 

$

(52

)

 

$

90,737

 

Mortgage-backed securities, residential

 

 

30,130

 

 

 

584

 

 

 

(1

)

 

 

30,713

 

Asset backed securities

 

 

18,632

 

 

 

192

 

 

 

(29

)

 

 

18,795

 

State and municipal

 

 

7,879

 

 

 

219

 

 

 

—

 

 

 

8,098

 

Corporate bonds

 

 

16,758

 

 

 

173

 

 

 

—

 

 

 

16,931

 

SBA pooled securities

 

 

212

 

 

 

3

 

 

 

—

 

 

 

215

 

Total available for sale securities

 

$

164,188

 

 

$

1,383

 

 

$

(82

)

 

$

165,489

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other - State of Israel bonds

 

$

745

 

 

$

5

 

 

$

—

 

 

$

750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

95,967

 

 

$

91

 

 

$

(224

)

 

$

95,834

 

Mortgage-backed securities, residential

 

 

35,931

 

 

 

355

 

 

 

(1

)

 

 

36,285

 

Asset backed securities

 

 

18,811

 

 

 

34

 

 

 

(6

)

 

 

18,839

 

State and municipal

 

 

8,989

 

 

 

20

 

 

 

(4

)

 

 

9,005

 

Corporate bonds

 

 

20,817

 

 

 

62

 

 

 

(36

)

 

 

20,843

 

Trust preferred

 

 

3,706

 

 

 

—

 

 

 

(106

)

 

 

3,600

 

SBA pooled securities

 

 

244

 

 

 

4

 

 

 

—

 

 

 

248

 

Total available for sale securities

 

$

184,465

 

 

$

566

 

 

$

(377

)

 

$

184,654

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other - State of Israel bonds

 

$

743

 

 

$

2

 

 

$

—

 

 

$

745

 

  
Schedule of Amortized Cost and Estimated Fair Value of Securities

The amortized cost and estimated fair value of securities at September 30, 2014, by contractual maturity, are shown below. 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.

 

 

 

Securities Available for Sale

 

 

Held to Maturity

 

 

 

Amortized

 

 

Fair

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

 

Cost

 

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

 

$

1,336

 

 

$

1,338

 

 

$

225

 

 

$

225

 

Due from one year to five years

 

 

94,588

 

 

 

94,900

 

 

 

520

 

 

 

525

 

Due from five years to ten years

 

 

17,699

 

 

 

17,846

 

 

 

—

 

 

 

—

 

Due after ten years

 

 

1,591

 

 

 

1,682

 

 

 

—

 

 

 

—

 

 

 

 

115,214

 

 

 

115,766

 

 

 

745

 

 

 

750

 

Mortgage-backed securities, residential

 

 

30,130

 

 

 

30,713

 

 

 

—

 

 

 

—

 

Asset backed securities

 

 

18,632

 

 

 

18,795

 

 

 

—

 

 

 

—

 

SBA pooled securities

 

 

212

 

 

 

215

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

164,188

 

 

$

165,489

 

 

$

745

 

 

$

750

 

  
Schedule of Information Pertaining to Securities with Gross Unrealized Losses

Information pertaining to securities with gross unrealized losses at September 30, 2014 and December 31, 2013, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are summarized as follows:

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

September 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

14,644

 

 

$

(52

)

 

$

—

 

 

$

—

 

 

$

14,644

 

 

$

(52

)

Mortgage-backed securities, residential

 

 

184

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

184

 

 

 

(1

)

Asset backed securities

 

 

9,789

 

 

 

(29

)

 

 

—

 

 

 

—

 

 

 

9,789

 

 

 

(29

)

State and municipal

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Corporate bonds

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

SBA pooled securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

24,617

 

 

$

(82

)

 

$

—

 

 

$

—

 

 

$

24,617

 

 

$

(82

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

38,890

 

 

$

(222

)

 

$

1,849

 

 

$

(2

)

 

$

40,739

 

 

$

(224

)

Mortgage-backed securities, residential

 

 

800

 

 

 

(1

)

 

 

—

 

 

 

—

 

 

 

800

 

 

 

(1

)

Asset backed securities

 

 

4,913

 

 

 

(6

)

 

 

—

 

 

 

—

 

 

 

4,913

 

 

 

(6

)

State and municipal

 

 

1,481

 

 

 

(4

)

 

 

—

 

 

 

—

 

 

 

1,481

 

 

 

(4

)

Corporate bonds

 

 

8,419

 

 

 

(36

)

 

 

—

 

 

 

—

 

 

 

8,419

 

 

 

(36

)

Trust preferred

 

 

3,600

 

 

 

(106

)

 

 

—

 

 

 

—

 

 

 

3,600

 

 

 

(106

)

SBA pooled securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

58,103

 

 

$

(375

)

 

$

1,849

 

 

$

(2

)

 

$

59,952

 

 

$

(377

)