Securities (Tables)
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6 Months Ended |
Jun. 30, 2018 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Available-for-sale Securities [Table Text Block] |
The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
| | | (Dollars in thousands) | | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | June 30, 2018 | | Basis | | Gains | | Losses | | Value | | | Money market fund | | $ | 1,608 | | $ | - | | $ | - | | $ | 1,608 | | | U.S. government sponsored entities | | | 7,997 | | | 2 | | | (178) | | | 7,821 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 139,149 | | | 24 | | | (4,042) | | | 135,131 | | | Municipal securities | | | 89,963 | | | 972 | | | (814) | | | 90,121 | | | Collateralized debt obligations | | | 4,810 | | | - | | | (1,327) | | | 3,483 | | | Total securities available-for-sale | | $ | 243,527 | | $ | 998 | | $ | (6,361) | | $ | 238,164 | |
| | | (Dollars in thousands) | | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | December 31, 2017 | | Basis | | Gains | | Losses | | Value | | | Money market fund | | $ | 476 | | $ | - | | $ | - | | $ | 476 | | | U.S. government sponsored entities | | | 3,996 | | | - | | | (106) | | | 3,890 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 134,224 | | | 170 | | | (1,456) | | | 132,938 | | | Municipal securities | | | 100,088 | | | 3,709 | | | (50) | | | 103,747 | | | Collateralized debt obligations | | | 4,835 | | | - | | | (1,396) | | | 3,439 | | | Total securities available-for-sale | | $ | 243,619 | | $ | 3,879 | | $ | (3,008) | | $ | 244,490 | |
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| Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] |
The estimated fair value of available-for-sale debt securities at June 30, 2018, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately.
| | | (Dollars in thousands) | | | | | Available-for-sale | | | | | Estimated | | | | | | | | Fair | Tax-Equivalent | | | June 30, 2018 | | Value | Yield (%) | | | Due in one year or less | | $ | 2,279 | | | 5.48 | | | Due from one to five years | | | 9,996 | | | 3.50 | | | Due from five to ten years | | | 16,804 | | | 4.21 | | | Due over ten years | | | 73,954 | | | 4.03 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 135,131 | | | 2.72 | | | Total | | $ | 238,164 | | | 3.29 | |
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| Schedule of Realized Gain (Loss) [Table Text Block] |
Sales of available-for-sale securities were as follows for the six months ended:
| | | (Dollars in thousands) | | | | | June 30, | | June 30, | | | | | 2018 | | 2017 | | | | | | | | | | | | Proceeds | | $ | 22,545 | | $ | 26,428 | | | Gross gains | | | 1,004 | | | 589 | | | Gross losses | | | - | | | (44) | |
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| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
| | | (Dollars in
thousands) | | | | | Unrealized
gain/(loss) | | | Ending balance, December 31, 2017 | | $ | 684 | | | Current period change | | | (4,921) | | | Ending balance, June 30, 2018 | | $ | (4,237) | |
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| Unrealized Gain (Loss) on Investments [Table Text Block] |
Securities with gross unrealized losses at June 30, 2018 and December 31, 2017 not recognized in income are as follows: | | | (Dollars in thousands) | | | | | Less than 12 months | | 12 months or longer | | Total | | | | | Estimated | | | | | Estimated | | | | | Estimated | | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | June 30, 2018 | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | U.S. government sponsored entities | | $ | 1,995 | | $ | (5) | | $ | 3,824 | | $ | (173) | | $ | 5,819 | | $ | (178) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 97,556 | | | (2,303) | | | 33,685 | | | (1,739) | | | 131,241 | | | (4,042) | | | Municipal securities | | | 29,715 | | | (675) | | | 1,721 | | | (139) | | | 31,436 | | | (814) | | | Collateralized debt obligations | | | - | | | - | | | 3,483 | | | (1,327) | | | 3,483 | | | (1,327) | | | Total temporarily impaired | | $ | 129,266 | | $ | (2,983) | | $ | 42,713 | | $ | (3,378) | | $ | 171,979 | | $ | (6,361) | | | Number of securities | | | | | | 105 | | | | | | 37 | | | | | | 142 | | | | | (Dollars in thousands) | | | | | Less than 12 months | | 12 months or longer | | Total | | | | | Estimated | | | | | Estimated | | | | | Estimated | | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | December 31, 2017 | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | U.S. government sponsored entities | | $ | - | | $ | - | | $ | 3,890 | | $ | (106) | | $ | 3,890 | | $ | (106) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 66,917 | | | (511) | | | 37,003 | | | (945) | | | 103,920 | | | (1,456) | | | Municipal securities | | | 1,790 | | | (3) | | | 1,815 | | | (47) | | | 3,605 | | | (50) | | | Collateralized debt obligations | | | - | | | - | | | 3,439 | | | (1,396) | | | 3,439 | | | (1,396) | | | Total temporarily impaired | | $ | 68,707 | | $ | (514) | | $ | 46,147 | | $ | (2,494) | | $ | 114,854 | | $ | (3,008) | | | Number of securities | | | | | | 40 | | | | | | 37 | | | | | | 77 | |
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