v3.8.0.1

Securities | 12 Months Ended
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Dec. 31, 2017
Investments Debt And Equity Securities [Abstract] |
Securities | NOTE 4: SECURITIES The following table provides a summary of the Company’s AFS securities portfolio at December 31:
|  |  | Amortized Cost |  |  |  | Gross Unrealized |  |  |  | Estimated Fair Value |
(dollars in thousands) |  |  |  |  |  | Gains |  |  |  | Losses |  |  |  |
2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 499 |  |  | $ | — |  |  | $ | (6 | ) |  | $ | 493 |
Agency mortgage-backed securities |  |  | 471,131 |  |  |  | 287 |  |  |  | (7,399 | ) |  |  | 464,019 |
Beneficial interest – FHLMC securitization |  |  | 35,930 |  |  |  | 1,811 |  |  |  | (1,889 | ) |  |  | 35,852 |
Corporate bonds |  |  | 19,000 |  |  |  | — |  |  |  | — |  |  |  | 19,000 |
Total |  | $ | 526,560 |  |  | $ | 2,098 |  |  | $ | (9,294 | ) |  | $ | 519,364 |
2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | 300 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 297 |
Agency mortgage-backed securities |  |  | 476,163 |  |  |  | 160 |  |  |  | (7,414 | ) |  |  | 468,909 |
Beneficial interest – FHLMC securitization |  |  | 42,028 |  |  |  | 711 |  |  |  | (2,367 | ) |  |  | 40,372 |
Total |  | $ | 518,491 |  |  | $ | 871 |  |  | $ | (9,784 | ) |  | $ | 509,578 |
The US Treasury Securities are pledged as collateral to the State of California to meet regulatory requirements related to the Bank’s trust operations. The table below indicates, as of December 31, 2017, the gross unrealized losses and fair values of our investments, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.
|  | Securities with Unrealized Loss at December 31, 2017 |
(dollars in thousands) |  | Less than 12 months |  |  | 12 months or more |  |  | Total |
| Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
US Treasury securities |  | $ | 197 |  |  | $ | (2 | ) |  | $ | 296 |  |  | $ | (4 | ) |  | $ | 493 |  |  | $ | (6 | )
Agency mortgage backed securities |  |  | 158,984 |  |  |  | (1,394 | ) |  |  | 259,213 |  |  |  | (6,005 | ) |  |  | 418,197 |  |  |  | (7,399 | )
Beneficial interest – FHLMC securitization |  |  | — |  |  |  | — |  |  |  | 8,738 |  |  |  | (1,889 | ) |  |  | 8,738 |  |  |  | (1,889 | )
Total temporarily impaired securities |  | $ | 159,181 |  |  | $ | (1,396 | ) |  | $ | 268,247 |  |  | $ | (7,898 | ) |  | $ | 427,428 |  |  | $ | (9,294 | )
|  | Securities with Unrealized Loss at December 31, 2016 |
(dollars in thousands) |  | Less than 12 months |  |  | 12 months or more |  |  | Total |
| Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
US Treasury securities |  |  | 297 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 297 |  |  |  | (3 | )
Agency mortgage backed securities |  |  | 445,591 |  |  |  | (7,414 | ) |  |  | — |  |  |  | — |  |  |  | 445,591 |  |  |  | (7,414 | )
Beneficial interest – FHLMC securitization |  |  | 18,636 |  |  |  | (2,367 | ) |  |  | — |  |  |  | — |  |  |  | 18,636 |  |  |  | (2,367 | )
Total temporarily impaired securities |  | $ | 464,524 |  |  | $ | (9,784 | ) |  | $ | — |  |  | $ | — |  |  | $ | 464,524 |  |  | $ | (9,784 | )
Unrealized losses on US Treasury securities, agency notes and agency mortgage-backed securities have not been recognized into income because the issuer bonds are of high credit quality, management does not intend to sell and it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery. The decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the bonds approach maturity. The scheduled maturities of securities AFS, other than agency mortgage backed securities, and the related weighted average yield is as follows as of December 31:
(dollars in thousands) |  | Less than 1 Year |  |  | 1 Through 5 years |  |  | 5 Through 10 Years |  |  | After 10 Years |  |  | Total |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | — |  |  | $ | 499 |  |  | $ | — |  |  | $ | — |  |  | $ | 499 |
Corporate bonds |  |  | — |  |  |  | — |  |  |  | 19,000 |  |  |  | — |  |  |  | 19,000 |
Total |  |  | — |  |  |  | 499 |  |  |  | 19,000 |  |  |  | — |  |  |  | 19,499 |
Weighted average yield |  |  | — | % |  |  | 1.03 | % |  |  | 5.24 | % |  |  | — | % |  |  | 5.13 | %
Estimated Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | — |  |  | $ | 493 |  |  | $ | — |  |  | $ | — |  |  | $ | 493 |
Corporate bonds |  |  | — |  |  |  | — |  |  |  | 19,000 |  |  |  | — |  |  |  | 19,000 |
Total |  | $ | — |  |  | $ | 493 |  |  | $ | 19,000 |  |  | $ | — |  |  | $ | 19,493 |
(dollars in thousands) |  | Less than 1 Year |  |  | 1 Through 5 years |  |  | 5 Through 10 Years |  |  | After 10 Years |  |  | Total |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | — |  |  | $ | 300 |  |  | $ | — |  |  | $ | — |  |  | $ | 300 |
Weighted average yield |  |  | — | % |  |  | 0.90 | % |  |  | — | % |  |  | — | % |  |  | 0.90 | %
Estimated Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury securities |  | $ | — |  |  | $ | 297 |  |  | $ | — |  |  | $ | — |  |  | $ | 297 |
Total |  | $ | — |  |  | $ | 297 |  |  | $ | — |  |  | $ | — |  |  | $ | 297 |
Agency mortgage backed securities and beneficial interests in FHLMC securitizations are excluded from the above table because such securities are not due at a single maturity date. The weighted average yield of the agency mortgage backed securities and beneficial interests in FHLMC securitizations as of December 31, 2017 and 2016 was 2.55% and 2.58%, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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