Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities

The amortized cost and 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, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency obligations - government-sponsored enterprises	$	999	$	—	$	(9	)	$	990
Municipal obligations	8,291		1		(111		)	8,181
Collateralized mortgage obligations - government issued	23,147		95		(397		)	22,845
Collateralized mortgage obligations - government-sponsored enterprises	95,509		11		(2,236		)	93,284
Other securities	2,695		—		(34		)	2,661
	$	130,641	$	107	$	(2,787	)	$	127,961



	As of December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency obligations - government-sponsored enterprises	$	999	$	1	$	—		$	1,000
Municipal obligations	9,494		2		(82		)	9,414
Collateralized mortgage obligations - government issued	22,313		149		(213		)	22,249
Collateralized mortgage obligations - government-sponsored enterprises	91,480		24		(1,199		)	90,305
Other securities	3,040		3		(6		)	3,037
	$	127,326	$	179	$	(1,500	)	$	126,005

Schedule of Held-to-maturity Securities

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



	As of March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
U.S. government agency obligations - government-sponsored enterprises	$	1,499	$	—	$	(9	)	$	1,490
Municipal obligations	21,657		48		(129		)	21,576
Collateralized mortgage obligations - government issued	8,613		—		(232		)	8,381
Collateralized mortgage obligations - government-sponsored enterprises	10,116		15		(169		)	9,962
	$	41,885	$	63	$	(539	)	$	41,409



	As of December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
U.S. government agency obligations - government-sponsored enterprises	$	1,499	$	—	$	(9	)	$	1,490
Municipal obligations	21,680		176		(34		)	21,822
Collateralized mortgage obligations - government issued	9,072		1		(130		)	8,943
Collateralized mortgage obligations - government-sponsored enterprises	5,527		—		(86		)	5,441
	$	37,778	$	177	$	(259	)	$	37,696

Investments Classified by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at March 31, 2018 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.



	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In Thousands)
Due in one year or less	$	3,894	$	3,886	$	1,700	$	1,691
Due in one year through five years	19,198		18,836		10,819		10,786
Due in five through ten years	31,867		31,274		20,298		20,032
Due in over ten years	75,682		73,965		9,068		8,900
	$	130,641	$	127,961	$	41,885	$	41,409

Schedule of Unrealized Loss on Investments

A summary of unrealized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:



	As of March 31, 2018
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
U.S. government agency obligations - government-sponsored enterprises	$	—	$	—	$	1,499	$	9	$	1,499	$	9
Municipal obligations	14,446		120		258		9		14,704		129
Collateralized mortgage obligations - government issued	4,225		106		4,388		126		8,613		232
Collateralized mortgage obligations - government-sponsored enterprises	2,875		7		5,241		162		8,116		169
	$	21,546	$	233	$	11,386	$	306	$	32,932	$	539



	As of December 31, 2017
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
U.S. government agency obligations - government-sponsored enterprises	$	—	$	—	$	1,499	$	9	$	1,499	$	9
Municipal obligations	3,723		27		259		7		3,982		34
Collateralized mortgage obligations - government issued	3,868		51		4,677		79		8,545		130
Collateralized mortgage obligations - government-sponsored enterprises	—		—		5,527		86		5,527		86
	$	7,591	$	78	$	11,962	$	181	$	19,553	$	259

A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:



	As of March 31, 2018
	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	$	990	$	9	$	—	$	—	$	990	$	9
Municipal obligations	4,914		70		2,094		41		7,008		111
Collateralized mortgage obligations - government issued	11,220		153		6,531		244		17,751		397
Collateralized mortgage obligations - government-sponsored enterprises	61,842		1,275		26,298		961		88,140		2,236
Other securities	2,418		32		243		2		2,661		34
	$	81,384	$	1,539	$	35,166	$	1,248	$	116,550	$	2,787



	As of December 31, 2017
	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:
Municipal obligations	$	6,132	$	43	$	2,755	$	39	$	8,887	$	82
Collateralized mortgage obligations - government issued	7,104		40		6,715		173		13,819		213
Collateralized mortgage obligations - government-sponsored enterprises	59,256		476		28,004		723		87,260		1,199
Other securities	1,954		6		—		—		1,954		$	6
	$	74,446	$	565	$	37,474	$	935	$	111,920	$	1,500

- 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