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Securities (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Costs and Fair Values of Securities

Amortized costs and fair values of securities at September 30, 2016 and December 31, 2015 were as follows (in thousands):

		September 30, 2016
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	74,732			$	1,092			$	(62	)		$	75,762
Obligations of states and political subdivisions			12,148				402				—				12,550
Corporate equity securities			1				10				—				11
Total securities available for sale		$	86,881			$	1,504			$	(62	)		$	88,323
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	39,118			$	487			$	—			$	39,605
Obligations of states and political subdivisions			14,645				531				—				15,176
Corporate debt securities			1,500				24				—				1,524
Total securities held to maturity		$	55,263			$	1,042			$	—			$	56,305
Total securities		$	142,144			$	2,546			$	(62	)		$	144,628
		December 31, 2015
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	89,919			$	261			$	(843	)		$	89,337
Obligations of states and political subdivisions			15,931				333				(50	)			16,214
Corporate equity securities			1				7				—				8
Total securities available for sale		$	105,851			$	601			$	(893	)		$	105,559
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	49,662			$	36			$	(326	)		$	49,372
Obligations of states and political subdivisions			15,357				228				(19	)			15,566
Corporate debt securities			1,500				—				—				1,500
Total securities held to maturity		$	66,519			$	264			$	(345	)		$	66,438
Total securities		$	172,370			$	865			$	(1,238	)		$	171,997

Summary of Investments in an Unrealized Loss Position that were Temporarily Impaired

At September 30, 2016 and December 31, 2015, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands):

		September 30, 2016
		Less than 12 months								12 months or more								Total
						Unrealized				Unrealized												Unrealized
		Fair Value				(Loss)				Fair Value				(Loss)				Fair Value				(Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	—			$	—			$	6,022			$	(62	)		$	6,022			$	(62	)
Total securities available for sale		$	—			$	—			$	6,022			$	(62	)		$	6,022			$	(62	)
Total securities		$	—			$	—			$	6,022			$	(62	)		$	6,022			$	(62	)
		December 31, 2015
		Less than 12 months								12 months or more								Total
						Unrealized								Unrealized								Unrealized
		Fair Value				(Loss)				Fair Value				(Loss)				Fair Value				(Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	50,185			$	(464	)		$	13,409			$	(379	)		$	63,594			$	(843	)
Obligations of states and political subdivisions			2,395				(15	)			1,053				(35	)			3,448				(50	)
Total securities available for sale		$	52,580			$	(479	)		$	14,462			$	(414	)		$	67,042			$	(893	)
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	32,791			$	(326	)		$	—			$	—			$	32,791			$	(326	)
Obligations of states and political subdivisions			3,052				(19	)			—				—				3,052				(19	)
Total securities held to maturity		$	35,843			$	(345	)		$	—			$	—			$	35,843			$	(345	)
Total securities		$	88,423			$	(824	)		$	14,462			$	(414	)		$	102,885			$	(1,238	)

Amortized Cost and Fair Value of Securities

The amortized cost and fair value of securities at September 30, 2016 by contractual maturity are shown below (in thousands). Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. Corporate equity securities are not included in the maturity categories in the following maturity summary because they do not have a stated maturity date.

		Available for Sale								Held to Maturity
		Amortized				Fair				Amortized				Fair
		Cost				Value				Cost				Value
Due within one year		$	—			$	—			$	—			$	—
Due after one year through five years			9,871				10,014				1,780				1,818
Due after five years through ten years			12,564				12,926				16,687				17,144
Due after ten years			64,445				65,372				36,796				37,343
Corporate equity securities			1				11				—				—
		$	86,881			$	88,323			$	55,263			$	56,305

Composition of Restricted Securities

The composition of restricted securities at September 30, 2016 and December 31, 2015 was as follows (in thousands):

		September 30, 2016				December 31, 2015
Federal Home Loan Bank stock		$	623			$	466
Federal Reserve Bank stock			875				875
Community Bankers’ Bank stock			50				50
		$	1,548			$	1,391

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