Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities

The amortized cost and estimated fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:



	As of March 31, 2015
	Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses			Estimated fair value
	(In Thousands)
Available-for-sale:
U.S. Government agency obligations - government-sponsored enterprises	$	8,046	$	29	$	(28	)	$	8,047
Municipal obligations	569		9		—			578
Asset-backed securities	1,494		—		—			1,494
Collateralized mortgage obligations - government issued	61,418		1,338		(87		)	62,669
Collateralized mortgage obligations - government-sponsored enterprises	69,597		631		(65		)	70,163
	$	141,124	$	2,007	$	(180	)	$	142,951



	As of December 31, 2014
	Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses			Estimated fair value
	(In Thousands)
Available-for-sale:
U.S. Government agency obligations - government-sponsored enterprises	$	9,046	$	—	$	(81	)	$	8,965
Municipal obligations	573		5		—			578
Asset-backed securities	1,514		$	—	(4		)	1,510
Collateralized mortgage obligations - government issued	67,740		1,390		(256		)	68,874
Collateralized mortgage obligations - government-sponsored enterprises	64,763		234		(226		)	64,771
	$	143,636	$	1,629	$	(567	)	$	144,698

Schedule of Held-to-maturity Securities

The amortized cost and estimated fair value of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses were as follows:



	As of March 31, 2015
	Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses			Estimated fair value
	(In Thousands)
Held-to-maturity:
U.S. Government agency obligations - government-sponsored enterprises	$	1,491	$	6	$	(1	)	$	1,496
Municipal obligations	16,075		231		(7		)	16,299
Collateralized mortgage obligations - government issued	13,889		185		—			14,074
Collateralized mortgage obligations - government-sponsored enterprises	9,144		134		—			9,278
	$	40,599	$	556	$	(8	)	$	41,147



	As of December 31, 2014
	Amortized cost		Gross unrecognized holding gains		Gross unrecognized holding losses			Estimated fair value
	(In Thousands)
Held-to-maturity:
U.S. Government agency obligations - government-sponsored enterprises	$	1,490	$	—	$	(17	)	$	1,473
Municipal obligations	16,088		85		(18		)	16,155
Collateralized mortgage obligations - government issued	14,505		57		(31		)	14,531
Collateralized mortgage obligations - government-sponsored enterprises	9,480		74		(19		)	9,535
	$	41,563	$	216	$	(85	)	$	41,694

Investments Classified by Contractual Maturity

The amortized cost and estimated fair value of securities by contractual maturity at March 31, 2015 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations without call or prepayment penalties.



	Available-for-Sale				Held-to-Maturity
	Amortized cost		Estimated fair value		Amortized cost		Estimated fair value
	(In Thousands)
Due in one year or less	$	—	$	—	$	—	$	—
Due in one year through five years	9,341		9,375		3,261		3,272
Due in five through ten years	75,842		76,931		13,330		13,532
Due in over ten years	55,941		56,645		24,008		24,343
	$	141,124	$	142,951	$	40,599	$	41,147

Schedule of Unrealized Loss on Investments

A summary of unrecognized loss information for securities held-to-maturity, categorized by security type follows:



	As of March 31, 2015
	Less than 12 months				12 months or longer				Total
	Fair value		Unrecognized losses		Fair value		Unrecognized losses		Fair value		Unrecognized losses
	(In Thousands)
Held-to-maturity:
U.S. Government agency obligations - government-sponsored enterprises	$	997	$	1	$	—	$	—	$	997	$	1
Municipal obligations	1,256		7		—		—		1,256		7
	$	2,253	$	8	$	—	$	—	$	2,253	$	8



	As of December 31, 2014
	Less than 12 months				12 months or longer				Total
	Fair value		Unrecognized losses		Fair value		Unrecognized losses		Fair value		Unrecognized losses
	(In Thousands)
Held-to-maturity:
U.S. Government agency obligations - government-sponsored enterprises	$	1,490	$	17	$	—	$	—	$	1,490	$	17
Municipal obligations	2,222		18		—		—		2,222		18
Collateralized mortgage obligations - government issued	3,247		31		—		—		3,247		31
Collateralized mortgage obligations - government-sponsored enterprises	3,076		19		—		—		3,076		19
	$	10,035	$	85	$	—	$	—	$	10,035	$	85

A summary of unrealized loss information for securities available-for-sale, categorized by security type follows:



	As of March 31, 2015
	Less than 12 months				12 months or longer				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
	(In Thousands)
Available-for-sale:
U.S. Government agency obligations - government-sponsored enterprises	$	—	$	—	$	3,722	$	28	$	3,722	$	28
Asset-backed securities	—		—		1,494		—		1,494		—
Collateralized mortgage obligations - government issued	—		—		8,669		87		8,669		87
Collateralized mortgage obligations - government-sponsored enterprises	4,853		5		4,859		60		9,712		65
	$	4,853	$	5	$	18,744	$	175	$	23,597	$	180



	As of December 31, 2014
	Less than 12 months				12 months or longer				Total
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
	(In Thousands)
Available-for-sale:
U.S. Government agency obligations - government-sponsored enterprises	$	3,486	$	12	$	5,479	$	69	$	8,965	$	81
Asset-backed securities	—		$	—	1,510		4		1,510		4
Collateralized mortgage obligations - government issued	9,201		50		9,536		206		18,737		256
Collateralized mortgage obligations - government-sponsored enterprises	29,498		97		4,993		129		34,491		226
	$	42,185	$	159	$	21,518	$	408	$	63,703	$	567

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References+ Details