Securities (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018 and December 31, 2017 were as follows (in thousands):



	March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities	$	81,309	$	24	$	(2,225	)	$	79,108
Obligations of states and political subdivisions	14,820		57		(286		)	14,591
Total securities available for sale	$	96,129	$	81	$	(2,511	)	$	93,699
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	30,750	$	—	$	(984	)	$	29,766
Obligations of states and political subdivisions	14,541		18		(192		)	14,367
Corporate debt securities	1,500		—		(3		)	1,497
Total securities held to maturity	$	46,791	$	18	$	(1,179	)	$	45,630
Total securities	$	142,920	$	99	$	(3,690	)	$	139,329



	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities	$	76,074	$	67	$	(1,337	)	$	74,804
Obligations of states and political subdivisions	14,520		86		(155		)	14,451
Total securities available for sale	$	90,594	$	153	$	(1,492	)	$	89,255
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	32,149	$	—	$	(551	)	$	31,598
Obligations of states and political subdivisions	14,559		74		(45		)	14,588
Corporate debt securities	1,500		16		—			1,516
Total securities held to maturity	$	48,208	$	90	$	(596	)	$	47,702
Total securities	$	138,802	$	243	$	(2,088	)	$	136,957

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

At March 31, 2018 and December 31, 2017, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands):



	March 31, 2018
	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	$	47,868	$	(941	)	$	29,121	$	(1,284	)	$	76,989	$	(2,225	)
Obligations of states and political subdivisions	7,120		(149		)	1,924		(137		)	9,044		(286		)
Total securities available for sale	$	54,988	$	(1,090	)	$	31,045	$	(1,421	)	$	86,033	$	(2,511	)
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	17,269	$	(478	)	$	12,497	$	(506	)	$	29,766	$	(984	)
Obligations of states and political subdivisions	11,166		(192		)	—		—			11,166		(192		)
Corporate debt securities	1,497		(3		)	—		—			1,497		(3		)
Total securities held to maturity	$	29,932	$	(673	)	$	12,497	$	(506	)	$	42,429	$	(1,179	)
Total securities	$	84,920	$	(1,763	)	$	43,542	$	(1,927	)	$	128,462	$	(3,690	)

	December 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	$	29,963	$	(286	)	$	30,362	$	(1,051	)	$	60,325	$	(1,337	)
Obligations of states and political subdivisions	4,469		(53		)	1,961		(102		)	6,430		(155		)
Total securities available for sale	$	34,432	$	(339	)	$	32,323	$	(1,153	)	$	66,755	$	(1,492	)
Securities held to maturity:
U.S. agency and mortgage-backed securities	$	18,301	$	(205	)	$	13,297	$	(346	)	$	31,598	$	(551	)
Obligations of states and political subdivisions	6,889		(45		)	—		—			6,889		(45		)
Total securities held to maturity	$	25,190	$	(250	)	$	13,297	$	(346	)	$	38,487	$	(596	)
Total securities	$	59,622	$	(589	)	$	45,620	$	(1,499	)	$	105,242	$	(2,088	)

Amortized Cost and Fair Value of Securities

The amortized cost and fair value of securities at March 31, 2018 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.



	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	507	$	514	$	—	$	—
Due after one year through five years	8,965		8,877		6,808		6,681
Due after five years through ten years	12,112		11,721		13,723		13,534
Due after ten years	74,545		72,587		26,260		25,415
	$	96,129	$	93,699	$	46,791	$	45,630

Composition of Restricted Securities

The composition of restricted securities at March 31, 2018 and December 31, 2017 was as follows (in thousands):



	March 31, 2018		December 31, 2017
Federal Home Loan Bank stock	$	665	$	645
Federal Reserve Bank stock	875		875
Community Bankers’ Bank stock	50		50
	$	1,590	$	1,570