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Securities (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income are shown below.
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |
Certificates of deposit | $ | 73,523 |  |  | $ | — |  |  | $ | — |  |  | $ | 73,523 |
Municipal securities | 507 |  |  | 7 |  |  | — |  |  | 514 |
Mortgage-backed securities - residential | 9,312 |  |  | 404 |  |  | (10 | ) |  | 9,706 |
Collateralized mortgage obligations - residential | 3,342 |  |  | 5 |  |  | (10 | ) |  | 3,337 |
| $ | 86,684 |  |  | $ | 416 |  |  | $ | (20 | ) |  | $ | 87,080 |
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 |
The mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities or agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support.
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
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. The amortized cost and fair values of securities 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.
| June 30, 2019
| Amortized Cost |  | Fair Value
Due in one year or less | $ | 73,027 |  |  | $ | 73,027 |
Due after one year through five years | 1,003 |  |  | 1,010 |
| 74,030 |  |  | 74,037 |
Mortgage-backed securities - residential | 9,312 |  |  | 9,706 |
Collateralized mortgage obligations - residential | 3,342 |  |  | 3,337 |
| $ | 86,684 |  |  | $ | 87,080 |
Investment securities available-for-sale with carrying values of $2.4 million and $2.7 million at June 30, 2019 and December 31, 2018, respectively, were pledged as collateral on customer repurchase agreements and for other purposes as required or permitted by law. Sales of equity securities were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Proceeds | $ | — |  |  | $ | 487 |  |  | $ | 3,722 |  |  | $ | 487 |
Gross gains | — |  |  | — |  |  | 295 |  |  | — |
Gross losses | — |  |  | (14 | ) |  | — |  |  | (14 | )
Securities with unrealized losses 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
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential | $ | — |  |  | $ | — |  |  | $ | 914 |  |  | $ | (10 | ) |  | $ | 914 |  |  | $ | (10 | )
Collateralized mortgage obligations - residential | 1,225 |  |  | (6 | ) |  | 1,566 |  |  | (4 | ) |  | 2,791 |  |  | (10 | )
| $ | 1,225 |  |  | $ | (6 | ) |  | $ | 2,480 |  |  | $ | (14 | ) |  | $ | 3,705 |  |  | $ | (20 | )
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 | )
The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary. Certain mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at June 30, 2019, but the unrealized losses were not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is likely that the Company will not be required to sell these securities before their anticipated recovery occurs. The Bank, as a member of Visa USA, received 51,404 unrestricted shares of Visa, Inc. Class B common stock in connection with Visa, Inc.’s initial public offering in 2007. The retroactive responsibility plan obligates all former Visa USA members to indemnify Visa USA, in proportion to their equity interests in Visa USA, for certain litigation losses and expenses, including settlement expenses, for the lawsuits covered by the retrospective responsibility plan. Due to the restrictions that the retrospective responsibility plan imposes on the Company’s Visa, Inc. Class B shares, the Company had not recorded the Class B shares as an asset. The Bank sold 25,702 shares of Visa Class B common stock in the fourth quarter of 2018 and recorded a gain of $3.6 million. For equity investments without readily determinable fair values, when an orderly transaction for the identical or similar investment of the same issuer is identified, we use the valuation techniques permitted under ASC 820 Fair Value to evaluate the observed transaction(s) and adjust the fair value of the equity investment. Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation mentioned above, the 25,702 Visa Class B shares that the Company owned as of December 31, 2018 were recorded at $3.4 million in other assets with a corresponding gain. The Bank sold the remaining 25,702 shares of Visa Class B common stock in the first quarter of 2019 and recorded a gain of $295,000.
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 are shown below.
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
June 30, 2019 |  |  |  |  |  |  |
Certificates of deposit | $ | 73,523 |  |  | $ | — |  |  | $ | — |  |  | $ | 73,523 |
Municipal securities | 507 |  |  | 7 |  |  | — |  |  | 514 |
Mortgage-backed securities - residential | 9,312 |  |  | 404 |  |  | (10 | ) |  | 9,706 |
Collateralized mortgage obligations - residential | 3,342 |  |  | 5 |  |  | (10 | ) |  | 3,337 |
| $ | 86,684 |  |  | $ | 416 |  |  | $ | (20 | ) |  | $ | 87,080 |
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 |
The mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities or agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support.
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
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.
Amortized cost and fair values of securities | The amortized cost and fair values of securities 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.
| June 30, 2019
| Amortized Cost |  | Fair Value
Due in one year or less | $ | 73,027 |  |  | $ | 73,027 |
Due after one year through five years | 1,003 |  |  | 1,010 |
| 74,030 |  |  | 74,037 |
Mortgage-backed securities - residential | 9,312 |  |  | 9,706 |
Collateralized mortgage obligations - residential | 3,342 |  |  | 3,337 |
| $ | 86,684 |  |  | $ | 87,080 |
Securities with unrealized losses | Securities with unrealized losses 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
June 30, 2019 |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - residential | $ | — |  |  | $ | — |  |  | $ | 914 |  |  | $ | (10 | ) |  | $ | 914 |  |  | $ | (10 | )
Collateralized mortgage obligations - residential | 1,225 |  |  | (6 | ) |  | 1,566 |  |  | (4 | ) |  | 2,791 |  |  | (10 | )
| $ | 1,225 |  |  | $ | (6 | ) |  | $ | 2,480 |  |  | $ | (14 | ) |  | $ | 3,705 |  |  | $ | (20 | )
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 | )

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