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Securities (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Costs and Fair Values of Securities

Amortized costs and fair values of securities at March 31, 2017 and December 31, 2016 were as follows (in thousands):

		March 31, 2017
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	78,026			$	186			$	(985	)		$	77,227
Obligations of states and political subdivisions			14,607				198				(136	)			14,669
Corporate equity securities			1				10				—				11
Total securities available for sale		$	92,634			$	394			$	(1,121	)		$	91,907
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	35,888			$	20			$	(351	)		$	35,557
Obligations of states and political subdivisions			14,611				49				(93	)			14,567
Corporate debt securities			1,500				—				(16	)			1,484
Total securities held to maturity		$	51,999			$	69			$	(460	)		$	51,608
Total securities		$	144,633			$	463			$	(1,581	)		$	143,515

		December 31, 2016
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	81,451			$	177			$	(1,457	)		$	80,171
Obligations of states and political subdivisions			14,654				146				(180	)			14,620
Corporate equity securities			1				10				—				11
Total securities available for sale		$	96,106			$	333			$	(1,637	)		$	94,802
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	37,269			$	1			$	(483	)		$	36,787
Obligations of states and political subdivisions			14,629				18				(211	)			14,436
Corporate debt securities			1,500				—				(14	)			1,486
Total securities held to maturity		$	53,398			$	19			$	(708	)		$	52,709
Total securities		$	149,504			$	352			$	(2,345	)		$	147,511

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

At March 31, 2017 and December 31, 2016, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands):

		March 31, 2017
		Less than 12 months								12 months or more								Total
		Fair Value				Unrealized (Loss)				Fair Value				Unrealized (Loss)				Fair Value				Unrealized (Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	52,461			$	(797	)		$	5,190			$	(188	)		$	57,651			$	(985	)
Obligations of states and political subdivisions			3,526				(136	)			—				—				3,526				(136	)
Total securities available for sale		$	55,987			$	(933	)		$	5,190			$	(188	)		$	61,177			$	(1,121	)
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	26,783			$	(351	)		$	—			$	—			$	26,783			$	(351	)
Obligations of states and political subdivisions			8,755				(93	)			—				—				8,755				(93	)
Corporate debt securities			1,484				(16	)			—				—				1,484				(16	)
Total securities held to maturity		$	37,022			$	(460	)		$	—			$	—			$	37,022			$	(460	)
Total securities		$	93,009			$	(1,393	)		$	5,190			$	(188	)		$	98,199			$	(1,581	)
		December 31, 2016
		Less than 12 months								12 months or more								Total
		Fair Value				Unrealized (Loss)				Fair Value				Unrealized (Loss)				Fair Value				Unrealized (Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	60,943			$	(1,249	)		$	5,499			$	(208	)		$	66,442			$	(1,457	)
Obligations of states and political subdivisions			5,130				(180	)			—				—				5,130				(180	)
Total securities available for sale		$	66,073			$	(1,429	)		$	5,499			$	(208	)		$	71,572			$	(1,637	)
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	34,770			$	(483	)		$	—			$	—			$	34,770			$	(483	)
Obligations of states and political subdivisions			12,724				(211	)			—				—				12,724				(211	)
Corporate debt securities			1,486				(14	)			—				—				1,486				(14	)
Total securities held to maturity		$	48,980			$	(708	)		$	—			$	—			$	48,980			$	(708	)
Total securities		$	115,053			$	(2,137	)		$	5,499			$	(208	)		$	120,552			$	(2,345	)

Amortized Cost and Fair Value of Securities

The amortized cost and fair value of securities at March 31, 2017 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 Cost				Fair Value				Amortized Cost				Fair Value
Due within one year		$	1,075			$	1,077			$	—			$	—
Due after one year through five years			14,229				14,244				1,773				1,786
Due after five years through ten years			12,185				12,109				18,806				18,770
Due after ten years			65,144				64,466				31,420				31,052
Corporate equity securities			1				11				—				—
		$	92,634			$	91,907			$	51,999			$	51,608

Composition of Restricted Securities

The composition of restricted securities at March 31, 2017 and December 31, 2016 was as follows (in thousands):

		March 31, 2017				December 31, 2016
Federal Home Loan Bank stock		$	645			$	623
Federal Reserve Bank stock			875				875
Community Bankers’ Bank stock			50				50
		$	1,570			$	1,548

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