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Investment Securities | 9 Months Ended
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Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | 4. Investment Securities Summary information regarding the Company’s investment securities classified as available for sale and held to maturity as of September 30, 2017 and December 31, 2016 is as follows.
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  |  |  |  |  |  |  | Less Than 1 Year |  |  | Over 1 Year |  |  |  |
September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 74,699 |  |  | $ | 835 |  |  | $ | 223 |  |  | $ | 57 |  |  | $ | 75,254 |
Collateralized mortgage obligations |  |  | 100,666 |  |  |  | 108 |  |  |  | 517 |  |  |  | 384 |  |  |  | 99,873 |
Municipal bonds |  |  | 18,202 |  |  |  | 292 |  |  |  | 1 |  |  |  | — |  |  |  | 18,493 |
U.S. government agency |  |  | 8,509 |  |  |  | 74 |  |  |  | 7 |  |  |  | — |  |  |  | 8,576 |
Total available for sale |  | $ | 202,076 |  |  | $ | 1,309 |  |  | $ | 748 |  |  | $ | 441 |  |  | $ | 202,196 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | 13,118 |  |  | $ | 144 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 13,246 |
Total held to maturity |  | $ | 13,118 |  |  | $ | 144 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 13,246 |
(dollars in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  |  |  |  |  |  |  | Less Than 1 Year |  |  | Over 1 Year |  |  |  |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 78,361 |  |  | $ | 938 |  |  | $ | 368 |  |  | $ | — |  |  | $ | 78,931 |
Collateralized mortgage obligations |  |  | 75,193 |  |  |  | 84 |  |  |  | 613 |  |  |  | 334 |  |  |  | 74,330 |
Municipal bonds |  |  | 21,212 |  |  |  | 260 |  |  |  | 44 |  |  |  | — |  |  |  | 21,428 |
U.S. government agency |  |  | 8,946 |  |  |  | 95 |  |  |  | — |  |  |  | — |  |  |  | 9,041 |
Total available for sale |  | $ | 183,712 |  |  | $ | 1,377 |  |  | $ | 1,025 |  |  | $ | 334 |  |  | $ | 183,730 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | 13,365 |  |  | $ | 69 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 13,362 |
Total held to maturity |  | $ | 13,365 |  |  | $ | 69 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 13,362 |
The estimated fair value and amortized cost by contractual maturity of the Company’s investment securities as of September 30, 2017 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of prepayments or the exercise of call options. Accordingly, actual maturities may differ from contractual maturities.
(dollars in thousands) |  | One Year or Less |  |  | One Year to Five Years |  |  | Five to Ten Years |  |  | Over Ten Years |  |  | Total |
Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 97 |  |  | $ | 5,935 |  |  | $ | 33,317 |  |  | $ | 35,905 |  |  | $ | 75,254 |
Collateralized mortgage obligations |  |  | — |  |  |  | 1,732 |  |  |  | 6,659 |  |  |  | 91,482 |  |  |  | 99,873 |
Municipal bonds |  |  | 1,541 |  |  |  | 9,560 |  |  |  | 6,864 |  |  |  | 528 |  |  |  | 18,493 |
U.S. government agency |  |  | 1,002 |  |  |  | 5,001 |  |  |  | 2,573 |  |  |  | — |  |  |  | 8,576 |
Total available for sale |  | $ | 2,640 |  |  | $ | 22,228 |  |  | $ | 49,413 |  |  | $ | 127,915 |  |  |  | 202,196 |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | — |  |  | $ | 5,418 |  |  | $ | 6,187 |  |  | $ | 1,641 |  |  | $ | 13,246 |
Total investment securities |  | $ | 2,640 |  |  | $ | 27,646 |  |  | $ | 55,600 |  |  | $ | 129,556 |  |  | $ | 215,442 |
(dollars in thousands) |  | One Year or Less |  |  | One Year to Five Years |  |  | Five to Ten Years |  |  | Over Ten Years |  |  | Total |
Amortized Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency mortgage-backed |  | $ | 95 |  |  | $ | 5,916 |  |  | $ | 33,322 |  |  | $ | 35,366 |  |  | $ | 74,699 |
Collateralized mortgage obligations |  |  | — |  |  |  | 1,722 |  |  |  | 6,720 |  |  |  | 92,224 |  |  |  | 100,666 |
Municipal bonds |  |  | 1,536 |  |  |  | 9,403 |  |  |  | 6,758 |  |  |  | 505 |  |  |  | 18,202 |
U.S. government agency |  |  | 1,000 |  |  |  | 4,995 |  |  |  | 2,514 |  |  |  | — |  |  |  | 8,509 |
Total available for sale |  | $ | 2,631 |  |  | $ | 22,036 |  |  | $ | 49,314 |  |  | $ | 128,095 |  |  | $ | 202,076 |
Securities held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | — |  |  | $ | 5,369 |  |  | $ | 6,118 |  |  | $ | 1,631 |  |  | $ | 13,118 |
Total investment securities |  | $ | 2,631 |  |  | $ | 27,405 |  |  | $ | 55,432 |  |  | $ | 129,726 |  |  | $ | 215,194 |
Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic and market conditions warrant such evaluations. Consideration is given to (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; and (3) the Company’s intent to sell a security or whether it is more likely than not the Company will be required to sell the security before the recovery of its amortized cost, which may extend to maturity. The Company performs a process to identify securities that could potentially have a credit impairment that is other-than-temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, bond credit support, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed other-than-temporarily impaired, an impairment loss is recognized. As of September 30, 2017, 65 of the Company’s debt securities had unrealized losses totaling 1.1% of the individual securities’ amortized cost basis and 0.6% of the Company’s total amortized cost basis of the investment securities portfolio. At such date, 18 of the 65 securities had been in a continuous loss position for over 12 months. The 18 securities had an aggregate amortized cost basis of $22.9 million and an unrealized loss of $441,000 at September 30, 2017. Management has the intent and ability to hold these debt securities until maturity, or until anticipated recovery; hence, no declines in these 65 securities were deemed other-than-temporary at September 30, 2017. As of September 30, 2017 and December 31, 2016, the Company had $102,401,000 and $91,773,000, respectively, of securities pledged to secure public deposits.

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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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