Securities (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Costs and Fair Values of Securities

Amortized costs and fair values of securities at June 30, 2017 and December 31, 2016 were as follows (in thousands):



	June 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities	$	74,574	$	298	$	(644	)	$	74,228
Obligations of states and political subdivisions	15,313		241		(53		)	15,501
Corporate equity securities	1		11		—			12
Total securities available for sale	$	89,888	$	550	$	(697	)	$	89,741
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	34,730	$	93	$	(200	)	$	34,623
Obligations of states and political subdivisions	14,594		294		—			14,888
Corporate debt securities	1,500		—		(10		)	1,490
Total securities held to maturity	$	50,824	$	387	$	(210	)	$	51,001
Total securities	$	140,712	$	937	$	(907	)	$	140,742



	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 June 30, 2017 and December 31, 2016, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands):



	June 30, 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	$	42,325	$	(493	)	$	4,964	$	(151	)	$	47,289	$	(644	)
Obligations of states and political subdivisions	2,569		(53		)	—		—			2,569		(53		)
Total securities available for sale	$	44,894	$	(546	)	$	4,964	$	(151	)	$	49,858	$	(697	)
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	17,961	$	(200	)	$	—	$	—		$	17,961	$	(200	)
Corporate debt securities	1,490		(10		)	—		—			1,490		(10		)
Total securities held to maturity	$	19,451	$	(210	)	$	—	$	—		$	19,451	$	(210	)
Total securities	$	64,345	$	(756	)	$	4,964	$	(151	)	$	69,309	$	(907	)

	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 June 30, 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	$	1,959	$	1,981	$	—	$	—
Due after one year through five years	14,050		14,136		6,195		6,257
Due after five years through ten years	11,412		11,404		14,343		14,549
Due after ten years	62,466		62,208		30,286		30,195
Corporate equity securities	1		12		—		—
	$	89,888	$	89,741	$	50,824	$	51,001

Composition of Restricted Securities

The composition of restricted securities at June 30, 2017 and December 31, 2016 was as follows (in thousands):



	June 30, 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