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Investment Securities | 9 Months Ended
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Sep. 30, 2017
Investments Debt And Equity Securities [Abstract] |
Investment Securities | NOTE 4 - INVESTMENT SECURITIES The following table summarizes the amortized cost and fair value of securities available for sale and held to maturity at September 30, 2017 and December 31, 2016, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
(dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
September 30, 2017 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government agency securities |  | $ | 5,057 |  |  | $ | — |  |  | $ | (100 | ) |  | $ | 4,957 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government sponsored agencies |  |  | 33,530 |  |  |  | 44 |  |  |  | (318 | ) |  |  | 33,256 |
Corporate debt securities |  |  | 17,341 |  |  |  | 203 |  |  |  | (60 | ) |  |  | 17,484 |
|  | $ | 55,928 |  |  | $ | 247 |  |  | $ | (478 | ) |  | $ | 55,697 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal taxable securities |  | $ | 4,296 |  |  | $ | 278 |  |  | $ | — |  |  | $ | 4,574 |
Municipal securities |  |  | 895 |  |  |  | 16 |  |  |  | — |  |  |  | 911 |
|  | $ | 5,191 |  |  | $ | 294 |  |  | $ | — |  |  | $ | 5,485 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government agency securities |  | $ | 5,453 |  |  | $ | — |  |  | $ | (136 | ) |  | $ | 5,317 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government sponsored agencies |  |  | 23,913 |  |  |  | 38 |  |  |  | (311 | ) |  |  | 23,640 |
Corporate debt securities |  |  | 10,364 |  |  |  | 21 |  |  |  | (65 | ) |  |  | 10,320 |
|  | $ | 39,730 |  |  | $ | 59 |  |  | $ | (512 | ) |  | $ | 39,277 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal taxable securities |  | $ | 5,301 |  |  | $ | 328 |  |  | $ | — |  |  | $ | 5,629 |
Municipal securities |  |  | 913 |  |  |  | 11 |  |  |  | — |  |  |  | 924 |
|  | $ | 6,214 |  |  | $ | 339 |  |  | $ | — |  |  | $ | 6,553 |
One security with a fair value of $840,000 and $933,000 was pledged to secure a local agency deposit at September 30, 2017 and December 31, 2016, respectively. The amortized cost and fair value of the investment securities portfolio at September 30, 2017 are shown by expected maturity below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Available for Sale |  |  | Held to Maturity |
|  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair |
(dollars in thousands) |  | Cost |  |  | Value |  |  | Cost |  |  | Value |
Due from one to five years |  | $ | 31,323 |  |  | $ | 31,214 |  |  | $ | 2,781 |  |  | $ | 2,930 |
Due from five to ten years |  |  | 20,556 |  |  |  | 20,473 |  |  |  | 2,410 |  |  |  | 2,555 |
Due from ten years and greater |  |  | 4,049 |  |  |  | 4,010 |  |  |  | — |  |  |  | — |
|  | $ | 55,928 |  |  | $ | 55,697 |  |  | $ | 5,191 |  |  | $ | 5,485 |
The following table summarizes available for sale securities with unrealized losses at September 30, 2017 and December 31, 2016, aggregated by major security type and length of time in a continuous unrealized loss position. There were no held to maturity securities in a continuous unrealized loss position at September 30, 2017 and December 31, 2016:
|  | Less than Twelve Months |  |  | Twelve Months or More |  |  | Total |
|  | Unrealized |  |  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |  |  | Estimated |
(dollars in thousands) |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |
September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government agency securities |  | $ | (100 | ) |  | $ | 4,957 |  |  | $ | — |  |  | $ | — |  |  | $ | (100 | ) |  | $ | 4,957 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government sponsored agencies |  |  | (255 | ) |  |  | 26,916 |  |  |  | (63 | ) |  |  | 2,105 |  |  |  | (318 | ) |  |  | 29,021 |
Corporate debt securities |  |  | (60 | ) |  |  | 5,994 |  |  |  | — |  |  |  | — |  |  |  | (60 | ) |  |  | 5,994 |
Total available for sale |  | $ | (415 | ) |  | $ | 37,867 |  |  | $ | (63 | ) |  | $ | 2,105 |  |  | $ | (478 | ) |  | $ | 39,972 |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government agency securities |  | $ | (136 | ) |  | $ | 5,317 |  |  | $ | — |  |  | $ | — |  |  | $ | (136 | ) |  | $ | 5,317 |
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government sponsored agencies |  |  | (221 | ) |  |  | 16,231 |  |  |  | (90 | ) |  |  | 2,504 |  |  |  | (311 | ) |  |  | 18,735 |
Corporate debt securities |  |  | (65 | ) |  |  | 5,147 |  |  |  | — |  |  |  | — |  |  |  | (65 | ) |  |  | 5,147 |
Total available for sale |  | $ | (422 | ) |  | $ | 26,695 |  |  | $ | (90 | ) |  | $ | 2,504 |  |  | $ | (512 | ) |  | $ | 29,199 |
Unrealized losses have not been recognized into income because the issuer bonds are of high credit quality, management does not intend to sell, it is not more likely than not that management would be required to sell the securities prior to their anticipated recovery and the decline in fair value is largely due to changes in interest rates. The fair value is expected to recover as the bonds approach maturity. Management evaluates securities for other-than-temporary impairment ("OTTI") on at least a semi-annual basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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