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Securities | 12 Months Ended
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Dec. 31, 2015
Securities [Abstract] |
Securities | NOTE 3 – SECURITIES The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at December 31, 201 5 and December 31, 201 4 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income (loss):
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | - |  | $ | - |  | $ | - |  | $ | -
State and municipal |  |  | - |  |  | - |  |  | - |  |  | -
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 8,575 |  |  | 4 |  |  | 43 |  |  | 8,536
Mortgage-backed securities - residential |  |  | 463 |  |  | 18 |  |  | - |  |  | 481
Collateralized mortgage obligations |  |  | 339 |  |  | 12 |  |  | - |  |  | 351
Total |  | $ | 9,377 |  | $ | 34 |  | $ | 43 |  | $ | 9,368
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | 2,932 |  | $ | 5 |  | $ | 1 |  | $ | 2,936
State and municipal |  |  | 897 |  |  | - |  |  | 11 |  |  | 886
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 5,018 |  |  | - |  |  | 7 |  |  | 5,011
Mortgage-backed securities - residential |  |  | 687 |  |  | 40 |  |  | - |  |  | 727
Collateralized mortgage obligations |  |  | 860 |  |  | 25 |  |  | - |  |  | 885
Total |  | $ | 10,394 |  | $ | 70 |  | $ | 19 |  | $ | 10,445
There was no other-than-temporary impairment recognized in accumulated other comprehensive income (loss) for securities available for sale at December 31, 201 5 or December 31, 201 4. The re were no sales of securities for the years ended December 31, 2015 or December 31, 2014; however, there was an early redemption of a municipal security during the first quarter of 2015 which is reflected in net loss on sales of securities. The amortized cost and fair value of debt securities at December 31, 201 5 and December 31, 2014 are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
|  | December 31, 2015 |  | December 31, 2014
|  | Amortized |  | Fair |  | Amortized |  | Fair
|  | Cost |  | Value |  | Cost |  | Value
Due in one year or less |  | $ | 1,002 |  | $ | 1,000 |  | $ | 4,829 |  | $ | 4,821
Due from one to five years |  |  | 7,573 |  |  | 7,536 |  |  | 4,018 |  |  | 4,012
Mortgage-backed securities |  |  | 463 |  |  | 481 |  |  | 687 |  |  | 727
Collateralized mortgage obligations |  |  | 339 |  |  | 351 |  |  | 860 |  |  | 885
Total |  | $ | 9,377 |  | $ | 9,368 |  | $ | 10,394 |  | $ | 10,445
Fair value of securities pledged was as follows:
|  | 2015 |  | 2014
Pledged as collateral for: |  |  |  |  |  |
FHLB advances |  | $ | 3,530 |  | $ | 4,208
Public deposits |  |  | 2,055 |  |  | 2,476
Interest-rate swaps |  |  | 261 |  |  | 353
Total |  | $ | 5,846 |  | $ | 7,037
At year end 2015 and 2014, there were no holdings of securities of any one issuer, other than U.S government-sponsored entities and agencies, in an amount greater than 10% of stockholders’ equity. The following table summarizes securities with unrealized losses at December 31, 201 5 and December 31, 201 4 aggregated by major security type and length of time in a continuous unrealized loss position.
December 31, 2015 |  | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate debt |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | -
State and municipal |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 6,541 |  |  | 43 |  |  | - |  |  | - |  |  | 6,541 |  |  | 43
Mortgage-backed securities - residential |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Collateralized mortgage obligations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total temporarily impaired |  | $ | 6,541 |  | $ | 43 |  | $ | - |  | $ | - |  | $ | 6,541 |  | $ | 43
December 31, 2014 |  | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate debt |  | $ | 1,259 |  | $ | 1 |  | $ | - |  | $ | - |  | $ | 1,259 |  | $ | 1
State and municipal |  |  | - |  |  | - |  |  | 886 |  |  | 11 |  |  | 886 |  |  | 11
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 5,011 |  |  | 7 |  |  | - |  |  | - |  |  | 5,011 |  |  | 7
Mortgage-backed securities - residential |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Collateralized mortgage obligations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total temporarily impaired |  | $ | 6,270 |  | $ | 8 |  | $ | 886 |  | $ | 11 |  | $ | 7,156 |  | $ | 19
The unrealized loss es in U.S. Treasuries at December 31, 2015 and c orporate debt, state and municipal and U.S. Treasuries at December 31, 201 4, are related to multiple securities. Because the decline in fair value is attributable to changes in market conditions, and not credit quality, and because the Company does not have the intent to sell these securities and will unlikely be required to sell these securities before their anticipated recovery, the Company did not consider these securities to be other-than-temporarily impaired at December 31, 201 5 and December 31, 201 4.

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