Securities (Tables)

9 Months Ended

Sep. 30, 2017

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