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Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Unrealized gains and losses recognized in accumulated other comprehensive income (loss)
The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows:
Available-for-Sale Securities
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 31, 2018
 
 
 
 
 
 
 
Certificates of deposit
$
73,507

 
$
—

 
$
—

 
$
73,507

Municipal securities
509

 
—

 
—

 
509

Mortgage-backed securities - residential
10,116

 
400

 
(38
)
 
10,478

Collateralized mortgage obligations - residential
3,676

 
11

 
(2
)
 
3,685

 
$
87,808

 
$
411

 
$
(40
)
 
$
88,179

December 31, 2017
 
 
 
 
 
 
 
Certificates of deposit
$
75,916

 
$
—

 
$
—

 
$
75,916

Equity mutual fund
500

 
—

 
(1
)
 
499

Mortgage-backed securities - residential
11,969

 
520

 
(17
)
 
12,472

Collateralized mortgage obligations - residential
4,481

 
16

 
(11
)
 
4,486

SBA-guaranteed loan participation certificates
10

 
—

 
—

 
10

 
$
92,876

 
$
536

 
$
(29
)
 
$
93,383

 
 
 
 
 
 
 
 
Equity Investments (1)
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
Visa Class B shares
$
—

 
3,427

 
—

 
$
3,427


(1)
Equity investments are included in Other Assets in the Consolidated Statements of Financial Condition.
Investments Classified by Contractual Maturity Date
The amortized cost and fair values of securities available-for-sale at December 31, 2018 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
December 31, 2018
 
Amortized
Cost
 
Fair
Value
Due in one year or less
$
73,507

 
$
73,507

Due after one year through five years
509

 
509

 
74,016

 
74,016

Mortgage-backed securities - residential
10,116

 
10,478

Collateralized mortgage obligations - residential
3,676

 
3,685

 
$
87,808

 
$
88,179
Amortized cost and fair values of securities
Sales of equity securities were as follows:
 
For the years ended
December 31,
 
2018
 
2017
Proceeds
$
4,059

 
$
—

Gross gains
3,572

 
—

Gross losses
(14
)
 
—
Securities with unrealized losses
Securities available-for-sale with unrealized losses at December 31, 2018 and 2017 not recognized in income are as follows:
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities - residential
$
—

 
$
—

 
$
904

 
$
(38
)
 
$
904

 
$
(38
)
Collateralized mortgage obligations - residential
—

 
—

 
1,729

 
(2
)
 
1,729

 
(2
)
 
$
—

 
$
—

 
$
2,633

 
$
(40
)
 
$
2,633

 
$
(40
)
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Equity mutual fund
$
499

 
$
(1
)
 
$
—

 
$
—

 
$
499

 
$
(1
)
Mortgage-backed securities - residential
—

 
—

 
1,149

 
(17
)
 
1,149

 
(17
)
Collateralized mortgage obligations - residential
—

 
—

 
2,083

 
(11
)
 
2,083

 
(11
)
 
$
499

 
$
(1
)
 
$
3,232

 
$
(28
)
 
$
3,731

 
$
(29
)