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Securities (Tables) | 9 Months Ended
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Sep. 30, 2017
Securities |
Schedule of amortized cost and fair value of the securities portfolio and corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss |
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
September 30, 2017 |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |
U.S. Treasuries |  | $ | 4,001 |  | $ | - |  | $ | (11) |  | $ | 3,990
U.S. government agencies |  |  | 13,475 |  |  | 15 |  |  | (39) |  |  | 13,451
U.S. government agencies mortgage-backed |  |  | 11,131 |  |  | 18 |  |  | (119) |  |  | 11,030
States and political subdivisions |  |  | 224,648 |  |  | 5,173 |  |  | (789) |  |  | 229,032
Corporate bonds |  |  | 10,823 |  |  | 20 |  |  | (266) |  |  | 10,577
Collateralized mortgage obligations |  |  | 81,693 |  |  | 228 |  |  | (1,535) |  |  | 80,386
Asset-backed securities |  |  | 134,542 |  |  | 865 |  |  | (3,648) |  |  | 131,759
Collateralized loan obligations |  |  | 52,803 |  |  | 505 |  |  | (49) |  |  | 53,259
Total securities available-for-sale |  | $ | 533,116 |  | $ | 6,824 |  | $ | (6,456) |  | $ | 533,484
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
December 31, 2016 |  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies mortgage-backed |  | $ | 42,511 |  | $ | - |  | $ | (977) |  | $ | 41,534
States and political subdivisions |  |  | 68,718 |  |  | 258 |  |  | (273) |  |  | 68,703
Corporate bonds |  |  | 10,957 |  |  | 9 |  |  | (336) |  |  | 10,630
Collateralized mortgage obligations |  |  | 174,352 |  |  | 374 |  |  | (3,799) |  |  | 170,927
Asset-backed securities |  |  | 146,391 |  |  | 341 |  |  | (8,325) |  |  | 138,407
Collateralized loan obligations |  |  | 102,504 |  |  | 29 |  |  | (896) |  |  | 101,637
Total securities available-for-sale |  | $ | 545,433 |  | $ | 1,011 |  | $ | (14,606) |  | $ | 531,838
Schedule of fair value, amortized cost and weighted average yield of debt securities by contractual maturity along with securities not due at a single maturity date, primarily mortgage-backed securities (MBS), asset-backed securities, and collateralized loan obligations |
|  |  |  |  | Weighted |  |  |  |  |
|  | Amortized |  | Average |  |  | Fair |
Securities available-for-sale |  | Cost |  | Yield |  |  | Value |
Due in one year or less |  | $ | 3,400 |  | 2.60 | % |  | $ | 3,405 |
Due after one year through five years |  |  | 5,846 |  | 2.74 |  |  |  | 5,831 |
Due after five years through ten years |  |  | 16,105 |  | 2.52 |  |  |  | 16,057 |
Due after ten years |  |  | 227,596 |  | 2.98 |  |  |  | 231,757 |
|  |  | 252,947 |  | 2.94 |  |  |  | 257,050 |
Mortgage-backed and collateralized mortgage obligations |  |  | 92,824 |  | 2.72 |  |  |  | 91,416 |
Asset-backed securities |  |  | 134,542 |  | 2.41 |  |  |  | 131,759 |
Collateralized loan obligations |  |  | 52,803 |  | 4.38 |  |  |  | 53,259 |
Total securities available-for-sale |  | $ | 533,116 |  | 2.91 | % |  | $ | 533,484 |
Schedule of amortized cost and fair value of securities that exceed 10% of stockholders equity | The Company has invested in securities issued from three originators that individually amount to over 10% of the Company’s stockholders equity. Information regarding these three issuers and the value of the securities issued follows:
|  | September 30, 2017 |
|  | Amortized |  | Fair |
Issuer |  | Cost |  | Value |
GCO Education Loan Funding Corp |  | $ | 27,555 |  | $ | 26,505 |
Towd Point Mortgage Trust |  |  | 29,544 |  |  | 29,445 |
Student Loan Marketing Assocation |  |  | 25,654 |  |  | 25,803 |
Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position |
|  | Less than 12 months |  | 12 months or more |  |  |  |  |  |  |  |
September 30, 2017 |  | in an unrealized loss position |  | in an unrealized loss position |  | Total
|  | Number of |  | Unrealized |  | Fair |  | Number of |  | Unrealized |  | Fair |  | Number of |  | Unrealized |  | Fair
Securities available-for-sale |  | Securities |  | Losses |  | Value |  | Securities |  | Losses |  | Value |  | Securities |  | Losses |  | Value
U.S. Treasuries |  | 1 |  | $ | 11 |  | $ | 3,990 |  | - |  | $ | - |  | $ | - |  | 1 |  | $ | 11 |  | $ | 3,990
U.S. government agencies |  | 2 |  |  | 39 |  |  | 6,701 |  | - |  |  | - |  |  | - |  | 2 |  |  | 39 |  |  | 6,701
U.S. government agencies mortgage-backed |  | 2 |  |  | 13 |  |  | 2,089 |  | 4 |  |  | 106 |  |  | 4,096 |  | 6 |  |  | 119 |  |  | 6,185
States and political subdivisions |  | 7 |  |  | 789 |  |  | 24,843 |  | - |  |  | - |  |  | - |  | 7 |  |  | 789 |  |  | 24,843
Corporate bonds |  | - |  |  | - |  |  | - |  | 3 |  |  | 266 |  |  | 10,078 |  | 3 |  |  | 266 |  |  | 10,078
Collateralized mortgage obligations |  | 4 |  |  | 238 |  |  | 21,281 |  | 8 |  |  | 1,297 |  |  | 43,684 |  | 12 |  |  | 1,535 |  |  | 64,965
Asset-backed securities |  | 1 |  |  | 265 |  |  | 4,293 |  | 9 |  |  | 3,383 |  |  | 76,725 |  | 10 |  |  | 3,648 |  |  | 81,018
Collateralized loan obligations |  | 1 |  |  | 49 |  |  | 7,948 |  | - |  |  | - |  |  | - |  | 1 |  |  | 49 |  |  | 7,948
Total securities available-for-sale |  | 18 |  | $ | 1,404 |  | $ | 71,145 |  | 24 |  | $ | 5,052 |  | $ | 134,583 |  | 42 |  | $ | 6,456 |  | $ | 205,728
|  | Less than 12 months |  | 12 months or more |  |  |  |  |  |  |  |
December 31, 2016 |  | in an unrealized loss position |  | in an unrealized loss position |  | Total
|  | Number of |  | Unrealized |  |  | Fair |  | Number of |  | Unrealized |  |  | Fair |  | Number of |  | Unrealized |  |  | Fair
Securities available-for-sale |  | Securities |  | Losses |  |  | Value |  | Securities |  | Losses |  |  | Value |  | Securities |  | Losses |  |  | Value
U.S. government agencies mortgage-backed |  | 11 |  | $ | 957 |  | $ | 40,636 |  | 1 |  | $ | 20 |  | $ | 898 |  | 12 |  | $ | 977 |  | $ | 41,534
States and political subdivisions |  | 12 |  |  | 273 |  |  | 35,241 |  | - |  |  | - |  |  | - |  | 12 |  |  | 273 |  |  | 35,241
Corporate bonds |  | 1 |  |  | 183 |  |  | 4,817 |  | 2 |  |  | 153 |  |  | 5,328 |  | 3 |  |  | 336 |  |  | 10,145
Collateralized mortgage obligations |  | 16 |  |  | 3,402 |  |  | 117,752 |  | 7 |  |  | 397 |  |  | 18,109 |  | 23 |  |  | 3,799 |  |  | 135,861
Asset-backed securities |  | 4 |  |  | 328 |  |  | 17,604 |  | 12 |  |  | 7,997 |  |  | 107,112 |  | 16 |  |  | 8,325 |  |  | 124,716
Collateralized loan obligations |  | - |  |  | - |  |  | - |  | 12 |  |  | 896 |  |  | 81,613 |  | 12 |  |  | 896 |  |  | 81,613
Total securities available-for-sale |  | 44 |  | $ | 5,143 |  | $ | 216,050 |  | 34 |  | $ | 9,463 |  | $ | 213,060 |  | 78 |  | $ | 14,606 |  | $ | 429,110

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- Definition Tabular disclosure of amortized cost and fair value of securities that exceed 10% of stockholders equity. + References No definition available. + Details
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- Definition Tabular disclosure of the reconciliation of available-for-sale securities and held-to-maturity securities from cost basis to fair value. + References No definition available. + Details
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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