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Securities (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises		$	1,000			$	1			$	—			$	1,001
Municipal securities		160				—				—				160
Mortgage backed securities - government issued		48,221				472				(74		)		48,619
Mortgage backed securities - government-sponsored enterprises		107,751				1,159				(258		)		108,652
Other securities		2,205				28				—				2,233
		$	159,337			$	1,660			$	(332	)		$	160,665

		As of December 31, 2018
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises		$	999			$	—			$	(9	)		$	990
Municipal securities		5,953				2				(69		)		5,886
Mortgage backed securities - government issued		20,007				47				(426		)		19,628
Mortgage backed securities - government-sponsored enterprises		110,928				279				(1,729		)		109,478
Other securities		2,450				—				(74		)		2,376
		$	140,337			$	328			$	(2,307	)		$	138,358

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, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In Thousands)
Held-to-maturity:
Municipal securities		$	19,744			$	317			$	(1	)		$	20,060
Mortgage backed securities - government issued		6,219				46				(7		)		6,258
Mortgage backed securities - government-sponsored enterprises		7,437				219				(11		)		7,645
		$	33,400			$	582			$	(19	)		$	33,963

		As of December 31, 2018
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(In Thousands)
Held-to-maturity:
Municipal securities		$	21,066			$	72			$	(59	)		$	21,079
Mortgage backed securities - government issued		7,358				—				(172		)		7,186
Mortgage backed securities - government-sponsored enterprises		9,307				2				(165		)		9,144
		$	37,731			$	74			$	(396	)		$	37,409

Investments Classified by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at September 30, 2019 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		$	1,160			$	1,161			$	770			$	772
Due in one year through five years		9,247				9,305				13,706				13,856
Due in five through ten years		30,985				31,461				13,935				14,277
Due in over ten years		117,945				118,738				4,989				5,058
		$	159,337			$	160,665			$	33,400			$	33,963

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, 2019
		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:
Mortgage backed securities - government issued		$	4,493			$	5			$	5,220			$	69			$	9,713			$	74
Mortgage backed securities - government-sponsored enterprises		17,382				98				18,246				160				35,628				258
		$	21,875			$	103			$	23,466			$	229			$	45,341			$	332

		As of December 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 securities - government-sponsored enterprises		$	—			$	—			$	990			$	9			$	990			$	9
Municipal securities		—				—				4,371				69				4,371				69
Mortgage backed securities - government issued		—				—				13,748				426				13,748				426
Mortgage backed securities - government-sponsored enterprises		8,178				46				69,602				1,683				77,780				1,729
Other securities		238				7				2,138				67				2,376				74
		$	8,416			$	53			$	90,849			$	2,254			$	99,265			$	2,307

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, 2019
		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:
Municipal securities		$	612			$	1			$	—			$	—			$	612			$	1
Mortgage backed securities - government issued		—				—				1,021				7				1,021				7
Mortgage backed securities - government-sponsored enterprises		—				—				1,187				11				1,187				11
		$	612			$	1			$	2,208			$	18			$	2,820			$	19

		As of December 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:
Municipal securities		$	6,876			$	14			$	4,364			$	45			$	11,240			$	59
Mortgage backed securities - government issued		—				—				7,186				172				7,186				172
Mortgage backed securities - government-sponsored enterprises		4,038				24				4,338				141				8,376				165
		$	10,914			$	38			$	15,888			$	358			$	26,802			$	396

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=118939692&loc=d3e27232-111563

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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=118939692&loc=d3e27290-111563

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