Securities (Tables)

9 Months Ended

Sep. 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 September 30, 2017 and December 31, 2016 were as follows (in thousands):



	September 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities	$	78,039	$	235	$	(767	)	$	77,507
Obligations of states and political subdivisions	15,445		203		(68		)	15,580
Corporate equity securities	1		14		—			15
Total securities available for sale	$	93,485	$	452	$	(835	)	$	93,102
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	33,300	$	48	$	(234	)	$	33,114
Obligations of states and political subdivisions	14,576		239		(1		)	14,814
Corporate debt securities	1,500		—		(12		)	1,488
Total securities held to maturity	$	49,376	$	287	$	(247	)	$	49,416
Total securities	$	142,861	$	739	$	(1,082	)	$	142,518



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



	September 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	$	44,941	$	(613	)	$	4,689	$	(154	)	$	49,630	$	(767	)
Obligations of states and political subdivisions	3,796		(68		)	—		—			3,796		(68		)
Total securities available for sale	$	48,737	$	(681	)	$	4,689	$	(154	)	$	53,426	$	(835	)
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	22,814	$	(234	)	$	—	$	—		$	22,814	$	(234	)
Obligations of states and political subdivisions	351		(1		)	—		—			351		(1		)
Corporate debt securities	1,488		(12		)	—		—			1,488		(12		)
Total securities held to maturity	$	24,653	$	(247	)	$	—	$	—		$	24,653	$	(247	)
Total securities	$	73,390	$	(928	)	$	4,689	$	(154	)	$	78,079	$	(1,082	)

	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 September 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	$	1,952	$	1,968	$	—	$	—
Due after one year through five years	13,828		13,909		6,190		6,228
Due after five years through ten years	12,689		12,652		14,198		14,342
Due after ten years	65,015		64,558		28,988		28,846
Corporate equity securities	1		15		—		—
	$	93,485	$	93,102	$	49,376	$	49,416

Composition of Restricted Securities

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



	September 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