INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2017

The amortized cost and estimated fair value of investment securities are as follows:

	September 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available-for-sale	(in thousands)
U.S. government agency notes	$	14,525	$	54	$	(42	)	$	14,537
U.S. government agency collateralized mortgage obligations ("CMO")		15,217		78		(51	)		15,244
Equity securities: Farmer Mac class A stock		66		80		—			146
Total	$	29,808	$	212	$	(93	)	$	29,927

Securities held-to-maturity
U.S. government agency mortgage backed securities ("MBS")	$	8,190	$	280	$	(86	)	$	8,384
Total	$	8,190	$	280	$	(86	)	$	8,384

	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Securities available-for-sale	(in thousands)
U.S. government agency notes	$	5,634	$	—	$	(62	)	$	5,572
U.S. government agency collateralized mortgage obligations ("CMO")		17,031		48		(85	)		16,994
Equity securities: Farmer Mac class A stock		66		49		—			115
Total	$	22,731	$	97	$	(147	)	$	22,681

Securities held-to-maturity
U.S. government agency mortgage backed securities ("MBS")	$	9,002	$	298	$	(151	)	$	9,149
Total	$	9,002	$	298	$	(151	)	$	9,149

The maturity periods and weighted average yields of investment securities at the period ends indicated were as follows:

	September 30, 2017
	Less than One Year					One to Five Years					Five to Ten Years					Over Ten Years					Total
	Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Securities available-for-sale	(dollars in thousands)
U.S. government agency notes	$	1,995		2.6	%	$	1,864		1.6	%	$	10,678		2.0	%	$	—		—		$	14,537		2.0	%
U.S. government agency CMO		—		—			3,571		1.8	%		8,694		1.7	%		2,979		2.1	%		15,244		1.8	%
Farmer Mac class A stock		—		—			—		—			—		—			—		—			146		—
Total	$	1,995		2.6	%	$	5,435		1.7	%	$	19,372		1.9	%	$	2,979		2.1	%	$	29,927		1.9	%

Securities held-to-maturity
U.S. government agency MBS	$	—		—		$	2,086		3.7	%	$	6,104		3.1	%	$	—		—		$	8,190		3.2	%
Total	$	—		—		$	2,086		3.7	%	$	6,104		3.1	%	$	—		—		$	8,190		3.2	%

	December 31, 2016
	Less than One Year					One to Five Years					Five to Ten Years					Over Ten Years					Total
	Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Securities available-for-sale	(dollars in thousands)
U.S. government agency notes	$	1,973		2.6	%	$	1,963		0.8	%	$	1,636		1.3	%	$	—		—		$	5,572		1.6	%
U.S. government agency CMO		—		—			2,063		1.9	%		11,827		1.1	%		3,104		1.5	%		16,994		1.2	%
Farmer Mac class A stock		—		—			—		—			—		—			—		—			115		—
Total	$	1,973		2.6	%	$	4,026		1.4	%	$	13,463		1.1	%	$	3,104		1.5	%	$	22,681		1.3	%

Securities held-to-maturity
U.S. government agency MBS	$	—		—		$	797		5.0	%	$	5,531		3.2	%	$	2,674		2.5	%	$	9,002		3.2	%
Total	$	—		—		$	797		5.0	%	$	5,531		3.2	%	$	2,674		2.5	%	$	9,002		3.2	%

The amortized cost and fair value of investment securities by contractual maturities as of the periods presented were as shown below:

	September 30, 2017				December 31, 2016
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Securities available-for-sale
Due in one year or less	$	1,996	$	1,995	$	1,995	$	1,973
After one year through five years		5,447		5,435		4,027		4,026
After five years through ten years		19,304		19,372		13,508		13,463
After ten years		2,995		2,979		3,135		3,104
Farmer Mac class A stock		66		146		66		115
	$	29,808	$	29,927	$	22,731	$	22,681
Securities held-to-maturity
Due in one year or less	$	-	$	-	$	-	$	-
After one year through five years		2,086		2,221		797		864
After five years through ten years		6,104		6,163		5,531		5,762
After ten years		-		-		2,674		2,523
	$	8,190	$	8,384	$	9,002	$	9,149

The following tables show all securities that are in an unrealized loss position:

	September 30, 2017
	Less Than Twelve Months					More Than Twelve Months				Total
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities available-for-sale	(in thousands)
U.S. government agency notes		$	35	$	8,452	$	7	$	1,384	$	42	$	9,836
U.S. government agency CMO			—		—		51		3,562		51		3,562
Equity securities: Farmer Mac class A stock			—		—		—		—		—		—
		$	35	$	8,452	$	58	$	4,946	$	93	$	13,398
Securities held-to-maturity
U.S. Government-agency MBS		$	—	$	—	$	86	$	2,538	$	86	$	2,538
Total		$	—	$	—	$	86	$	2,538	$	86	$	2,538

	December 31, 2016
	Less Than Twelve Months					More Than Twelve Months				Total
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities available-for-sale	(in thousands)
U.S. government agency notes		$	29	$	3,936	$	33	$	1,636	$	62	$	5,572
U.S. government agency CMO			35		7,930		50		1,601		85		9,531
Equity securities: Farmer Mac class A stock			—		—		—		—		—		—
		$	64	$	11,866	$	83	$	3,237	$	147	$	15,103
Securities held-to-maturity
U.S. Government-agency MBS		$	151	$	3,312	$	—	$	—	$	151	$	3,312
Total		$	151	$	3,312	$	—	$	—	$	151	$	3,312