Investments (Tables)

6 Months Ended

Jun. 30, 2016

Investments [Abstract]

Major Components of Securities Available for Sale and Comparison of Amortized Cost, Estimated Fair Market Values, and Gross Unrealized Gains and Losses

The following table sets forth the major components of securities available for sale and compares the amortized costs and estimated fair market values of, and the gross unrealized gains and losses on, these securities at June 30, 2016 and December 31, 2015:

(Dollars in thousands)	June 30, 2016									December 31, 2015
	Amortized Cost		Gross Unrealized					Estimated Fair Value		Amortized Cost		Gross Unrealized					Estimated Fair Value
			Gain		Loss							Gain		Loss
Securities Available for Sale
Residential mortgage backed securities issued by U.S. Agencies(1)	$	42,164	$	204	$	(55	)	$	42,313	$	46,126	$	4	$	(976	)	$	45,154
Residential collateralized mortgage obligations issued by non-agencies(1)	551		—		(15		)	536		646		—		(14		)	632
Asset backed security(2)	2,027		—		(698		)	1,329		2,027		—		(547		)	1,480
Mutual funds(3)	5,000		92		(7		)	5,085		5,000		33		(50		)	4,983
Total	$	49,742	$	296	$	(775	)	$	49,263	$	53,799	$	37	$	(1,587	)	$	52,249

(1) Secured by closed-end first liens on 1-4 family residential mortgages.

(2) Comprised of a security that represents an interest in a pool of trust preferred securities issued by U.S.-based banks and insurance companies.

(3) Consists primarily of mutual fund investments in closed-end first liens on 1-4 family residential mortgages.

Amortized Cost and Estimated Fair Values of Securities Available for Sale by Contractual Maturities and Historical Prepayments based on Prior Twelve Months of Principal Payments

The amortized cost and estimated fair values of securities available for sale at June 30, 2016 and December 31, 2015 are shown in the tables below by contractual maturities taking into consideration historical prepayments based on the prior twelve months of principal payments. Expected maturities will differ from contractual maturities and historical prepayments, particularly with respect to collateralized mortgage obligations, primarily because prepayment rates are affected by changes in conditions in the interest rate market and, therefore, future prepayment rates may differ from historical prepayment rates.

	At June 30, 2016 Maturing in
(Dollars in thousands)	One year or less			Over one year through five years			Over five years through ten years			Over ten Years			Total
Securities available for sale, amortized cost	$	7,974		$	25,514		$	11,956		$	4,298		$	49,742
Securities available for sale, estimated fair value	7,966			25,740			11,956			3,601			49,263
Weighted average yield	1.59		%	1.56		%	1.57		%	2.29		%	1.63		%

	At December 31, 2015 Maturing in
(Dollars in thousands)	One year or less			Over one year through five years			Over five years through ten years			Over ten Years			Total
Securities available for sale, amortized cost	$	7,761		$	26,178		$	14,164		$	5,696		$	53,799
Securities available for sale, estimated fair value	7,599			25,716			13,857			5,077			52,249
Weighted average yield	1.63		%	1.60		%	1.60		%	2.05		%	1.65		%

Gross Unrealized Losses and Fair Values of Investments

The tables below indicate, as of June 30, 2016 and December 31, 2015, the gross unrealized losses and fair values of our investments, aggregated by investment category, and length of time that the individual securities have been in a continuous unrealized loss position.

	Securities with Unrealized Loss at June 30, 2016
	Less than 12 months					12 months or more					Total
(Dollars in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Residential mortgage backed securities issued by U.S. Agencies	$	351	$	(1	)	$	22,663	$	(54	)	$	23,014	$	(55	)
Residential collateralized mortgage obligations issued by non-agencies	—		—			536		(15		)	536		(15		)
Asset backed security	—		—			1,329		(698		)	1,329		(698		)
Mutual funds	—		—			993		(7		)	993		(7		)
Total	$	351	$	(1	)	$	25,521	$	(774	)	$	25,872	$	(775	)

	Securities With Unrealized Loss as of December 31, 2015
	Less than 12 months					12 months or more					Total
(Dollars in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Residential mortgage backed securities issued by U.S. Agencies	$	20,597	$	(197	)	$	23,865	$	(779	)	$	44,462	$	(976	)
Residential collateralized mortgage obligations issued by non-agencies	—		—			631		(14		)	631		(14		)
Asset-backed security	—		—			1,480		(547		)	1,480		(547		)
Mutual funds	1,728		(23		)	973		(27		)	2,701		(50		)
Total	$	22,325	$	(220	)	$	26,949	$	(1,367	)	$	49,274	$	(1,587	)

Other-Than-Temporary Impairments, Portion Attributable to Non-Credit Related Factors Recognized in Other Comprehensive Loss

The table below presents, for the six months ended June 30, 2016, a roll-forward of OTTI in those instances when a portion of the OTTI was attributable to non-credit related factors and, therefore, was recognized in other comprehensive loss:

(Dollars in thousands)	Gross Other- Than- Temporary Impairments			Other-Than- Temporary Impairments Included in Other Comprehensive Loss			Net Other-Than- Temporary Impairments Included in Retained  Earnings (Deficit)
Balance – December 31, 2015	$	(1,100	)	$	(547	)	$	(553	)
Change in market value on a security for which an OTTI was previously recognized	(151		)	(151		)	—
Principal received on OTTI security	—			—			—
Balance – June 30, 2016	$	(1,251	)	$	(698	)	$	(553	)

Schedule of Other Investments

As of June 30, 2016 and December 31, 2015, our other investment was as follows:

	June 30, 2016	December 31, 2015
	(Dollars in thousands)
Investments accounted for under the cost method (1)	368	281

(1) Represents the aggregate carrying amount of our investments that were not evaluated for impairment.