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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities and Held-to-maturity Securities Reconciliation
Our investment securities portfolio consists of obligations of state and political subdivisions, corporate bonds, U.S. government agency securities, including mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”) issued or guaranteed by Federal National Mortgage Association ("FNMA"), Federal Home Loan Mortgage Corporation ("FHLMC"), or Government National Mortgage Association ("GNMA"), Small Business Administration ("SBA") backed securities, debentures issued by government-sponsored agencies such as FNMA, Federal Farm Credit Bureau, FHLB and FHLMC, as well as privately issued CMOs, as reflected in the table below:
 
December 31, 2017
December 31, 2016
 
Amortized

Fair

Gross Unrealized
Amortized

Fair

Gross Unrealized
(in thousands)
Cost

Value

Gains

(Losses)

Cost

Value

Gains

(Losses)

Held-to-maturity:
 
 
 
 
 
 
 
 
  Obligations of state and
  political subdivisions
$
19,646

$
19,998

$
383

$
(31
)
$
30,856

$
31,544

$
694

$
(6
)
  Corporate bonds
—

—

—

—

3,519

3,518

—

(1
)
MBS pass-through securities issued by FHLMC and FNMA
100,376

100,096

234

(514
)
10,063

10,035

126

(154
)
  CMOs issued by FHLMC
31,010

30,938

2

(74
)
—

—

—

—

Total held-to-maturity
151,032

151,032

619

(619
)
44,438

45,097

820

(161
)
Available-for-sale:
 
 
 
 
 
 
 
 
Securities of U.S. government agencies:
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
65,559

65,262

126

(423
)
193,384

189,959

145

(3,570
)
SBA-backed securities
25,979

25,982

58

(55
)
614

607

—

(7
)
CMOs issued by FNMA
35,340

35,125

33

(248
)
13,790

13,772

91

(109
)
CMOs issued by FHLMC
70,514

69,889

3

(628
)
43,452

42,758

37

(731
)
CMOs issued by GNMA
17,953

17,785

26

(194
)
6,844

6,945

102

(1
)
Debentures of government- sponsored agencies
12,940

12,938

3

(5
)
35,486

35,403

7

(90
)
Privately issued CMOs
1,432

1,431

1

(2
)
419

419

1

(1
)
Obligations of state and
political subdivisions
98,027

97,491

298

(834
)
79,306

77,701

135

(1,740
)
Corporate bonds
6,541

6,564

26

(3
)
4,959

5,016

57

—

Total available-for-sale
334,285

332,467

574

(2,392
)
378,254

372,580

575

(6,249
)
Total investment securities
$
485,317

$
483,499

$
1,193

$
(3,011
)
$
422,692

$
417,677

$
1,395

$
(6,410
)
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of investment debt securities by contractual maturity at December 31, 2017 are shown below. Expected maturities may differ from contractual maturities if the issuers of the securities have the right to call or prepay obligations with or without call or prepayment penalties.
 
December 31, 2017
December 31, 2016
 
Held-to-Maturity
Available-for-Sale
Held-to-Maturity
Available-for-Sale
(in thousands)
Amortized Cost

Fair Value

Amortized Cost

Fair Value

Amortized Cost

Fair Value

Amortized Cost

Fair Value

Within one year
$
2,151

$
2,172

$
10,268

$
10,272

$
13,473

$
13,506

$
20,136

$
20,109

After one but within five years
15,577

15,791

71,576

71,237

16,706

17,150

58,334

58,267

After five years through ten years
54,641

54,554

129,723

128,954

3,000

3,125

113,576

110,842

After ten years
78,663

78,515

122,718

122,004

11,259

11,316

186,208

183,362

Total
$
151,032

$
151,032

$
334,285

$
332,467

$
44,438

$
45,097

$
378,254

$
372,580
Gain (Loss) on Investments
Sales of investment securities and gross gains and losses are shown in the following table.
(in thousands)
2017
2016
2015
Available-for-sale:
 
 
 
  Sales proceeds
$
55,408

$
68,673

$
2,099

  Gross realized gains
$
46

$
458

$
7

  Gross realized losses
$
(231
)
$
(64
)
$
(1
)
Held-to-maturity:
 
 
 
  Sales proceeds
$
—

$
1,265

$
1,015

  Gross realized gains
$
—

$
32

$
73

  Gross realized losses
$
—

$
—

$
—
Schedule of Financial Instruments Owned and Pledged as Collateral
Pledged investment securities are shown in the following table:
(in thousands)
December 31, 2017
December 31, 2016
Pledged to the State of California:
 
 
   Secure public deposits in compliance with the Local Agency Security Program
$
107,829

$
108,304

   Collateral for trust deposits
761

822

      Total investment securities pledged to the State of California
$
108,590

$
109,126

Collateral for Wealth Management and Trust Services ("WMTS') checking account
$
2,026

$
2,146
Schedule of Unrealized Loss on Investments
Those securities are summarized and classified according to the duration of the loss period in the tables below:
December 31, 2017
< 12 continuous months
 
 
≥ 12 continuous months
 
 
Total securities
 in a loss position
 
(in thousands)
Fair value

Unrealized loss

 
Fair value

Unrealized loss

 
Fair value

Unrealized loss

Held-to-maturity:
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
$
16,337

$
(143
)
 
$
46,845

$
(371
)
 
$
63,182

$
(514
)
Obligations of state and political subdivisions
3,648

(31
)
 
—

—

 
3,648

(31
)
CMOs issued by FHLMC

11,066

(31
)
 
13,824

(43
)
 
24,890

(74
)
Total held-to-maturity
31,051

(205
)
 
60,669

(414
)
 
91,720

(619
)
Available-for-sale:
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
32,189

(121
)
 
15,325

(302
)
 
47,514

(423
)
SBA-backed securities
11,028

(53
)
 
165

(2
)
 
11,193

(55
)
CMOs issued by FNMA
26,401

(171
)
 
5,440

(77
)
 
31,841

(248
)
CMOs issued by FHLMC
69,276

(628
)
 
—

—

 
69,276

(628
)
CMOs issued by GNMA
14,230

(194
)
 
—

—

 
14,230

(194
)
Debentures of government-sponsored agencies
2,984

(5
)
 
—

—

 
2,984

(5
)
Obligations of state and political subdivisions
52,197

(288
)
 
19,548

(546
)
 
71,745

(834
)
Corporate bonds
3,060

(3
)
 
 
 
 
3,060

(3
)
Privately issued CMO's
1,310

(2
)
 
—

—

 
1,310

(2
)
Total available-for-sale
212,675

(1,465
)
 
40,478

(927
)
 
253,153

(2,392
)
Total temporarily impaired securities
$
243,726

$
(1,670
)
 
$
101,147

$
(1,341
)
 
$
344,873

$
(3,011
)
December 31, 2016
< 12 continuous months
 
 
> 12 continuous months
 
 
Total securities
 in a loss position
 
(in thousands)
Fair value

Unrealized loss

 
Fair value

Unrealized loss

 
Fair value

Unrealized loss

Held-to-maturity:
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
$
2,250

$
(154
)
 
$
—

$
—

 
$
2,250

$
(154
)
Obligations of state and political subdivisions
3,362

(6
)
 
—

—

 
3,362

(6
)
Corporate bonds
3,518

(1
)
 
—

—

 
3,518

(1
)
Total held-to-maturity
9,130

(161
)
 
—

—

 
9,130

(161
)
Available-for-sale:
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
161,409

(3,570
)
 
—

—

 
161,409

(3,570
)
SBA-backed securities
607

(7
)
 
—

—

 
607

(7
)
CMOs issued by FNMA
9,498

(109
)
 
—

—

 
9,498

(109
)
CMOs issued by FHLMC
31,545

(731
)
 
—

—

 
31,545

(731
)
CMOs issued by GNMA
1,583

(1
)
 
—

—

 
1,583

(1
)
Debentures of government- sponsored agencies
19,951

(38
)
 
9,946

(52
)
 
29,897

(90
)
Obligations of state and political subdivisions
59,567

(1,740
)
 
—

—

 
59,567

(1,740
)
Corporate bonds
154

(1
)
 
—

—

 
154

(1
)
Total available-for-sale
284,314

(6,197
)
 
9,946

(52
)
 
294,260

(6,249
)
Total temporarily impaired securities
$
293,444

$
(6,358
)
 
$
9,946

$
(52
)
 
$
303,390

$
(6,410
)