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Securities (Tables)

9 Months Ended

Sep. 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 September 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		$	999			$	—			$	(15	)		$	984
Municipal obligations		5,842				—				(113		)		5,729
Collateralized mortgage obligations - government issued		20,811				54				(585		)		20,280
Collateralized mortgage obligations - government-sponsored enterprises		108,738				10				(3,129		)		105,619
Other securities		2,450				—				(67		)		2,383
		$	138,840			$	64			$	(3,909	)		$	134,995

		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 September 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		$	1,500			$	—			$	(3	)		$	1,497
Municipal obligations		21,135				20				(229		)		20,926
Collateralized mortgage obligations - government issued		7,749				—				(301		)		7,448
Collateralized mortgage obligations - government-sponsored enterprises		9,566				—				(307		)		9,259
		$	39,950			$	20			$	(840	)		$	39,130

		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 September 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		$	1,518			$	1,515			$	2,272			$	2,268
Due in one year through five years		20,998				20,448				11,664				11,581
Due in five through ten years		30,083				29,269				19,697				19,166
Due in over ten years		86,241				83,763				6,317				6,115
		$	138,840			$	134,995			$	39,950			$	39,130

Schedule of Unrealized Loss on Investments

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 September 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		$	984			$	15			$	—			$	—			$	984			$	15
Municipal obligations		1,536				39				3,020				74				4,556				113
Collateralized mortgage obligations - government issued		8,675				223				7,906				362				16,581				585
Collateralized mortgage obligations - government-sponsored enterprises		56,226				1,171				46,996				1,958				103,222				3,129
Other securities		2,139				66				244				1				2,383				67
		$	69,560			$	1,514			$	58,166			$	2,395			$	127,726			$	3,909

		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

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 September 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		$	—			$	—			$	1,497			$	3			$	1,497			$	3
Municipal obligations		15,300				181				1,433				48				16,733				229
Collateralized mortgage obligations - government issued		—				—				7,448				301				7,448				301
Collateralized mortgage obligations - government-sponsored enterprises		4,723				120				4,536				187				9,259				307
		$	20,023			$	301			$	14,914			$	539			$	34,937			$	840

		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

X

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563

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