Securities (Tables)

12 Months Ended

Dec. 31, 2017

Investments Debt And Equity Securities [Abstract]

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)		Amortized Cost		Gains		Losses			Estimated Fair Value
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

Schedule of Securities in a Continuous Unrealized Loss Position Aggregated by Investment Category and Length of Time

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
(dollars in thousands)	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
(dollars in thousands)	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	)

Scheduled Maturities of Securities AFS Other than Mortgage Backed Securities and the Related Weighted Average Yield

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

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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