Securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency obligations - government-sponsored enterprises	$	4,992	$	—	$	(17	)	$	4,975
Municipal obligations	7,137		2		(101		)	7,038
Collateralized mortgage obligations - government issued	21,961		83		(502		)	21,542
Collateralized mortgage obligations - government-sponsored enterprises	102,141		13		(2,619		)	99,535
Other securities	2,450		—		(70		)	2,380
	$	138,681	$	98	$	(3,309	)	$	135,470



	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 June 30, 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	$	—	$	(5	)	$	1,494
Municipal obligations	21,406		50		(117		)	21,339
Collateralized mortgage obligations - government issued	8,173		—		(277		)	7,896
Collateralized mortgage obligations - government-sponsored enterprises	9,868		—		(257		)	9,611
	$	40,946	$	50	$	(656	)	$	40,340



	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 June 30, 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	$	6,795	$	6,786	$	2,273	$	2,267
Due in one year through five years	19,891		19,445		11,465		11,441
Due in five through ten years	29,450		28,819		20,209		19,821
Due in over ten years	82,545		80,420		6,999		6,811
	$	138,681	$	135,470	$	40,946	$	40,340

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 June 30, 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	$	5	$	1,499	$	5
Municipal obligations	13,308		109		258		8		13,566		117
Collateralized mortgage obligations - government issued	4,036		131		4,137		146		8,173		277
Collateralized mortgage obligations - government-sponsored enterprises	4,857		74		5,011		183		9,868		257
	$	22,201	$	314	$	10,905	$	342	$	33,106	$	656



	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 June 30, 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	$	4,975	$	17	$	—	$	—	$	4,975	$	17
Municipal obligations	3,681		41		2,588		60		6,269		101
Collateralized mortgage obligations - government issued	10,917		232		6,353		270		17,270		502
Collateralized mortgage obligations - government-sponsored enterprises	68,892		1,552		25,464		1,067		94,356		2,619
Other securities	2,137		68		243		2		2,380		70
	$	90,602	$	1,910	$	34,648	$	1,399	$	125,250	$	3,309



	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