Investment Securities (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Debt Securities, Available-for-sale |
The following table presents the amortized cost and fair value of the investment securities as of the dates indicated: | | | | | | | | | | | | | | | | | | ($ in thousands) | | Amortized Cost | | Gross Unrealized Gain | | Gross Unrealized Loss | | Fair Value | December 31, 2018 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | 68,975 |
| | $ | 177 |
| | $ | (1,231 | ) | | $ | 67,921 |
| Collateralized mortgage obligations | | 56,625 |
| | 55 |
| | (1,031 | ) | | 55,649 |
| SBA loan pool securities | | 23,144 |
| | — |
| | (512 | ) | | 22,632 |
| Municipal bonds | | 784 |
| | 5 |
| | — |
| | 789 |
| Total securities available-for-sale | | $ | 149,528 |
| | $ | 237 |
| | $ | (2,774 | ) | | $ | 146,991 |
| Securities held-to-maturity: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 16,659 |
| | $ | — |
| | $ | (602 | ) | | $ | 16,057 |
| Municipal bonds | | 5,101 |
| | 37 |
| | (43 | ) | | 5,095 |
| Total securities held-to-maturity | | $ | 21,760 |
| | $ | 37 |
| | $ | (645 | ) | | $ | 21,152 |
| December 31, 2017 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | 52,565 |
| | $ | 8 |
| | $ | (669 | ) | | $ | 51,904 |
| Collateralized mortgage obligations | | 51,459 |
| | 34 |
| | (1,008 | ) | | 50,485 |
| SBA loan pool securities | | 25,231 |
| | 17 |
| | (323 | ) | | 24,925 |
| Municipal bonds | | 2,376 |
| | 1 |
| | (2 | ) | | 2,375 |
| Total securities available-for-sale | | $ | 131,631 |
| | $ | 60 |
| | $ | (2,002 | ) | | $ | 129,689 |
| Securities held-to-maturity: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 15,807 |
| | $ | 8 |
| | $ | (257 | ) | | $ | 15,558 |
| Municipal bonds | | 5,263 |
| | 181 |
| | (5 | ) | | 5,439 |
| Total securities held-to-maturity | | $ | 21,070 |
| | $ | 189 |
| | $ | (262 | ) | | $ | 20,997 |
| | | | | | | | | |
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| Debt Securities, Held-to-maturity |
The following table presents the amortized cost and fair value of the investment securities as of the dates indicated: | | | | | | | | | | | | | | | | | | ($ in thousands) | | Amortized Cost | | Gross Unrealized Gain | | Gross Unrealized Loss | | Fair Value | December 31, 2018 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | 68,975 |
| | $ | 177 |
| | $ | (1,231 | ) | | $ | 67,921 |
| Collateralized mortgage obligations | | 56,625 |
| | 55 |
| | (1,031 | ) | | 55,649 |
| SBA loan pool securities | | 23,144 |
| | — |
| | (512 | ) | | 22,632 |
| Municipal bonds | | 784 |
| | 5 |
| | — |
| | 789 |
| Total securities available-for-sale | | $ | 149,528 |
| | $ | 237 |
| | $ | (2,774 | ) | | $ | 146,991 |
| Securities held-to-maturity: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 16,659 |
| | $ | — |
| | $ | (602 | ) | | $ | 16,057 |
| Municipal bonds | | 5,101 |
| | 37 |
| | (43 | ) | | 5,095 |
| Total securities held-to-maturity | | $ | 21,760 |
| | $ | 37 |
| | $ | (645 | ) | | $ | 21,152 |
| December 31, 2017 | | | | | | | | | Securities available-for-sale: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | Mortgage-backed securities | | $ | 52,565 |
| | $ | 8 |
| | $ | (669 | ) | | $ | 51,904 |
| Collateralized mortgage obligations | | 51,459 |
| | 34 |
| | (1,008 | ) | | 50,485 |
| SBA loan pool securities | | 25,231 |
| | 17 |
| | (323 | ) | | 24,925 |
| Municipal bonds | | 2,376 |
| | 1 |
| | (2 | ) | | 2,375 |
| Total securities available-for-sale | | $ | 131,631 |
| | $ | 60 |
| | $ | (2,002 | ) | | $ | 129,689 |
| Securities held-to-maturity: | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 15,807 |
| | $ | 8 |
| | $ | (257 | ) | | $ | 15,558 |
| Municipal bonds | | 5,263 |
| | 181 |
| | (5 | ) | | 5,439 |
| Total securities held-to-maturity | | $ | 21,070 |
| | $ | 189 |
| | $ | (262 | ) | | $ | 20,997 |
| | | | | | | | | |
|
| Investments Classified by Contractual Maturity Date |
The following table presents the amortized cost and fair value of the investment securities by contractual maturity as of December 31, 2018. Expected maturities may differ from contractual maturities, if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. | | | | | | | | | | | | | | | | | | | | Securities Available-For-Sale | | Securities Held-To-Maturity | ($ in thousands) | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | Within one year | | $ | — |
| | $ | — |
| | $ | 133 |
| | $ | 133 |
| One to five years | | — |
| | — |
| | 1,435 |
| | 1,442 |
| Five to ten years | | 784 |
| | 789 |
| | 1,216 |
| | 1,217 |
| Greater than ten years | | — |
| | — |
| | 2,317 |
| | 2,303 |
| Mortgage-backed securities, collateralized mortgage obligations and SBA loan pool securities | | 148,744 |
| | 146,202 |
| | 16,659 |
| | 16,057 |
| Total | | $ | 149,528 |
| | $ | 146,991 |
| | $ | 21,760 |
| | $ | 21,152 |
| | | | | | | | | |
|
| Realized Gain (Loss) on Investments |
The following table presents proceeds from sales and calls of securities available-for-sale and the associated gross gains and losses realized through earnings upon the sales and calls of securities available-for-sale for the periods indicated: | | | | | | | | | | | | | | | | Year Ended December 31, | ($ in thousands) | | 2018 | | 2017 | | 2016 | Gross realized gains on sales and calls of securities available-for-sale | | $ | — |
| | $ | — |
| | $ | 54 |
| Gross realized losses on sales and calls of securities available-for-sale | | — |
| | — |
| | 46 |
| Net realized gains (losses) on sales and calls of securities available-for-sale | | $ | — |
| | $ | — |
| | $ | 8 |
| Proceeds from sales and calls of securities available-for-sale | | $ | 1,075 |
| | $ | — |
| | $ | 7,816 |
| Tax expense on sales and calls of securities available-for-sale | | $ | — |
| | $ | — |
| | $ | 3 |
| | | | | | | |
|
| Schedule of Unrealized Loss on Investments |
The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Length of Time that individual securities have been in a continuous unrealized loss position | | | Less Than 12 Months | | 12 Months or Longer | | Total | ($ in thousands) | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | December 31, 2018 | | | | | | | | | | | | | | | | | | | Securities available-for-sale: | | | | | | | | | | | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | | $ | 1,868 |
| | $ | (6 | ) | | 2 |
| | $ | 41,845 |
| | $ | (1,225 | ) | | 48 |
| | $ | 43,713 |
| | $ | (1,231 | ) | | 50 |
| Collateralized mortgage obligations | | 7,067 |
| | (29 | ) | | 5 |
| | 34,943 |
| | (1,002 | ) | | 34 |
| | 42,010 |
| | (1,031 | ) | | 39 |
| SBA loan pool securities | | 2,809 |
| | (7 | ) | | 2 |
| | 19,823 |
| | (505 | ) | | 18 |
| | 22,632 |
| | (512 | ) | | 20 |
| Municipal bonds | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total securities available-for-sale | | $ | 11,744 |
| | $ | (42 | ) | | 9 |
| | $ | 96,611 |
| | $ | (2,732 | ) | | 100 |
| | $ | 108,355 |
| | $ | (2,774 | ) | | 109 |
| Securities held-to-maturity: | | | | | | | | | | | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 2,022 |
| | $ | (23 | ) | | 1 |
| | $ | 14,035 |
| | $ | (579 | ) | | 15 |
| | $ | 16,057 |
| | $ | (602 | ) | | 16 |
| Municipal bonds | | 2,600 |
| | (38 | ) | | 8 |
| | 497 |
| | (5 | ) | | 3 |
| | 3,097 |
| | (43 | ) | | 11 |
| Total securities held-to-maturity | | $ | 4,622 |
| | $ | (61 | ) | | 9 |
| | $ | 14,532 |
| | $ | (584 | ) | | 18 |
| | $ | 19,154 |
| | $ | (645 | ) | | 27 |
| December 31, 2017 | | | | | | | | | | | | | | | | | | | Securities available-for-sale: | | | | | | | | | | | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise securities: | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | | $ | 31,876 |
| | $ | (352 | ) | | 29 |
| | $ | 18,762 |
| | $ | (317 | ) | | 21 |
| | $ | 50,638 |
| | $ | (669 | ) | | 50 |
| Collateralized mortgage obligations | | 31,191 |
| | (454 | ) | | 19 |
| | 16,284 |
| | (554 | ) | | 19 |
| | 47,475 |
| | (1,008 | ) | | 38 |
| SBA loan pool securities | | 11,736 |
| | (103 | ) | | 9 |
| | 8,798 |
| | (220 | ) | | 7 |
| | 20,534 |
| | (323 | ) | | 16 |
| Municipal bonds | | 1,115 |
| | (2 | ) | | 2 |
| | — |
| | — |
| | — |
| | 1,115 |
| | (2 | ) | | 2 |
| Total securities available-for-sale | | $ | 75,918 |
| | $ | (911 | ) | | 59 |
| | $ | 43,844 |
| | $ | (1,091 | ) | | 47 |
| | $ | 119,762 |
| | $ | (2,002 | ) | | 106 |
| Securities held-to-maturity: | | | | | | | | | | | | | | | | | | | U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities | | $ | 7,997 |
| | $ | (93 | ) | | 6 |
| | $ | 5,739 |
| | $ | (164 | ) | | 7 |
| | $ | 13,736 |
| | $ | (257 | ) | | 13 |
| Municipal bonds | | 1,183 |
| | (5 | ) | | 5 |
| | — |
| | — |
| | — |
| | 1,183 |
| | (5 | ) | | 5 |
| Total securities held-to-maturity | | $ | 9,180 |
| | $ | (98 | ) | | 11 |
| | $ | 5,739 |
| | $ | (164 | ) | | 7 |
| | $ | 14,919 |
| | $ | (262 | ) | | 18 |
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