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Securities (Tables)
6 Months Ended
Jun. 30, 2018
Schedule Of Debt Securities [Line Items]  
Schedule of Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity

The amortized cost and estimated fair value of securities at June 30, 2018, 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.

 

  

 

Available for Sale Securities

 

 

Held to Maturity Securities

 

 

 

Amortized

 

 

Fair

 

 

Amortized

 

 

Fair

 

(Dollars in thousands)

 

Cost

 

 

Value

 

 

Cost

 

 

Value

 

Due in one year or less

 

$

20,615

 

 

$

20,509

 

 

$

 

 

$

 

Due from one year to five years

 

 

89,283

 

 

 

87,951

 

 

 

 

 

 

 

Due from five years to ten years

 

 

20,723

 

 

 

20,278

 

 

 

3,352

 

 

 

3,282

 

Due after ten years

 

 

10,354

 

 

 

10,205

 

 

 

5,321

 

 

 

4,811

 

 

 

 

140,975

 

 

 

138,943

 

 

 

8,673

 

 

 

8,093

 

Mortgage-backed securities, residential

 

 

30,525

 

 

 

30,238

 

 

 

 

 

 

 

Asset backed securities

 

 

10,713

 

 

 

10,666

 

 

 

 

 

 

 

SBA pooled securities

 

 

3,366

 

 

 

3,337

 

 

 

 

 

 

 

 

 

$

185,579

 

 

$

183,184

 

 

$

8,673

 

 

$

8,093

 

 

Schedule of Proceeds from Sales of Debt Securities and the Associated Gross Gains and Losses

Proceeds from sales of debt securities and the associated gross gains and losses are as follows:

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(Dollars in thousands)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Proceeds

 

$

 

 

$

 

 

$

34,196

 

 

$

 

Gross gains

 

 

 

 

 

 

 

 

5

 

 

 

 

Gross losses

 

 

 

 

 

 

 

 

(277

)

 

 

 

 

Schedule of Information Pertaining to Debt Securities with Gross Unrealized and Unrecognized Losses

Information pertaining to debt securities with gross unrealized and unrecognized losses, 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

 

(Dollars in thousands)

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

June 30, 2018

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

64,383

 

 

$

(643

)

 

$

31,281

 

 

$

(617

)

 

$

95,664

 

 

$

(1,260

)

U.S. Treasury notes

 

 

1,911

 

 

 

(37

)

 

 

 

 

 

 

 

 

1,911

 

 

 

(37

)

Mortgage-backed securities, residential

 

 

11,747

 

 

 

(247

)

 

 

5,907

 

 

 

(263

)

 

 

17,654

 

 

 

(510

)

Asset backed securities

 

 

 

 

 

 

 

 

4,916

 

 

 

(82

)

 

 

4,916

 

 

 

(82

)

State and municipal

 

 

26,877

 

 

 

(517

)

 

 

7,476

 

 

 

(164

)

 

 

34,353

 

 

 

(681

)

Corporate bonds

 

 

4,938

 

 

 

(80

)

 

 

149

 

 

 

(1

)

 

 

5,087

 

 

 

(81

)

SBA pooled securities

 

 

3,237

 

 

 

(30

)

 

 

 

 

 

 

 

 

3,237

 

 

 

(30

)

 

 

$

113,093

 

 

$

(1,554

)

 

$

49,729

 

 

$

(1,127

)

 

$

162,822

 

 

$

(2,681

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

June 30, 2018

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

1,659

 

 

$

(187

)

 

$

6,434

 

 

$

(393

)

 

$

8,093

 

 

$

(580

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2017

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Government agency obligations

 

$

47,605

 

 

$

(166

)

 

$

40,053

 

 

$

(551

)

 

$

87,658

 

 

$

(717

)

 

 

$

1,934

 

 

$

(6

)

 

$

 

 

$

 

 

 

1,934

 

 

 

(6

)

Mortgage-backed securities, residential

 

 

10,349

 

 

 

(21

)

 

 

6,200

 

 

 

(159

)

 

 

16,549

 

 

 

(180

)

Asset backed securities

 

 

4,898

 

 

 

(85

)

 

 

 

 

 

 

 

 

4,898

 

 

 

(85

)

State and municipal

 

 

32,257

 

 

 

(216

)

 

 

12,138

 

 

 

(227

)

 

 

44,395

 

 

 

(443

)

Corporate bonds

 

 

4,073

 

 

 

(2

)

 

 

149

 

 

 

(1

)

 

 

4,222

 

 

 

(3

)

SBA pooled securities

 

 

1,654

 

 

 

(2

)

 

 

 

 

 

 

 

 

1,654

 

 

 

(2

)

 

 

$

102,770

 

 

$

(498

)

 

$

58,540

 

 

$

(938

)

 

$

161,310

 

 

$

(1,436

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

December 31, 2017

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

1,835

 

 

$

(28

)

 

$

5,692

 

 

$

(1,002

)

 

$

7,527

 

 

$

(1,030

)

 

Debt Securities [Member]  
Schedule Of Debt Securities [Line Items]  
Schedule of Amortized Cost of Securities and Their Approximate Fair Values

Debt securities have been classified in the financial statements as available for sale or held to maturity. The amortized cost of debt securities and their approximate fair values are as follows:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

June 30, 2018

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

96,925

 

 

$

 

 

$

(1,260

)

 

$

95,665

 

U.S. Treasury notes

 

 

1,948

 

 

 

 

 

 

(37

)

 

 

1,911

 

Mortgage-backed securities, residential

 

 

30,525

 

 

 

223

 

 

 

(510

)

 

 

30,238

 

Asset backed securities

 

 

10,713

 

 

 

35

 

 

 

(82

)

 

 

10,666

 

State and municipal

 

 

36,285

 

 

 

9

 

 

 

(681

)

 

 

35,613

 

Corporate bonds

 

 

5,817

 

 

 

18

 

 

 

(81

)

 

 

5,754

 

SBA pooled securities

 

 

3,366

 

 

 

1

 

 

 

(30

)

 

 

3,337

 

Total available for sale securities

 

$

185,579

 

 

$

286

 

 

$

(2,681

)

 

$

183,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

8,673

 

 

$

 

 

$

(580

)

 

$

8,093

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2017

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

110,531

 

 

$

76

 

 

$

(717

)

 

$

109,890

 

U.S. Treasury notes

 

 

1,940

 

 

 

 

 

 

(6

)

 

 

1,934

 

Mortgage-backed securities, residential

 

 

33,537

 

 

 

306

 

 

 

(180

)

 

 

33,663

 

Asset backed securities

 

 

11,883

 

 

 

47

 

 

 

(85

)

 

 

11,845

 

State and municipal

 

 

74,684

 

 

 

150

 

 

 

(443

)

 

 

74,391

 

Corporate bonds

 

 

15,271

 

 

 

52

 

 

 

(3

)

 

 

15,320

 

SBA pooled securities

 

 

3,535

 

 

 

27

 

 

 

(2

)

 

 

3,560

 

Total available for sale securities

 

$

251,381

 

 

$

658

 

 

$

(1,436

)

 

$

250,603

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

8,557

 

 

$

 

 

$

(1,030

)

 

$

7,527