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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2014
Investment Securities  
Schedule of investment securities portfolio

 

 

Investment Securities Portfolio

(Dollars in Thousands)

 

 

 

As of March 31, 2014

 

 

 

Amortized
Cost

 

Fair
Value

 

Gross
Unrealized
Losses

 

Gross
Unrealized
Gains

 

Net Unrealized
Gains (Losses)

 

Held-to-Maturity:

 

 

 

 

 

 

 

 

 

 

 

Collateralized mortgage obligations (residential)

 

$

32

 

$

34

 

$

—

 

$

2

 

$

2

 

Total investment securities held-to-maturity

 

$

32

 

$

34

 

$

—

 

$

2

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-Sale:

 

 

 

 

 

 

 

 

 

 

 

Securities of government sponsored enterprises

 

$

61,853

 

$

59,950

 

$

(1,904

)

$

1

 

$

(1,903

)

Mortgage backed securities (residential)

 

90,755

 

89,325

 

(2,053

)

623

 

(1,430

)

Collateralized mortgage obligations (residential)

 

126,800

 

127,814

 

(1,235

)

2,249

 

1,014

 

Corporate securities

 

38,296

 

39,242

 

—

 

946

 

946

 

Municipal securities

 

24,716

 

26,107

 

(20

)

1,411

 

1,391

 

Total investment securities available-for-sale

 

$

342,420

 

$

342,438

 

$

(5,212

)

$

5,230

 

$

18

 

 

 

 

As of December 31, 2013

 

 

 

Amortized
Cost

 

Fair
Value

 

Gross
Unrealized
Losses

 

Gross
Unrealized
Gains

 

Net Unrealized
Gains (Losses)

 

Held-to-Maturity:

 

 

 

 

 

 

 

 

 

 

 

Collateralized mortgage obligations (residential)

 

$

35

 

$

37

 

$

—

 

$

2

 

$

2

 

Total investment securities held-to-maturity

 

$

35

 

$

37

 

$

—

 

$

2

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-Sale:

 

 

 

 

 

 

 

 

 

 

 

Securities of government sponsored enterprises

 

$

63,843

 

$

60,789

 

$

(3,054

)

$

—

 

$

(3,054

)

Mortgage backed securities (residential)

 

93,402

 

90,869

 

(3,062

)

529

 

(2,533

)

Collateralized mortgage obligations (residential)

 

135,154

 

135,653

 

(1,666

)

2,165

 

499

 

Corporate securities

 

38,442

 

39,530

 

—

 

1,088

 

1,088

 

Municipal securities

 

24,700

 

25,596

 

(58

)

954

 

896

 

Total investment securities available-for-sale

 

$

355,541

 

$

352,437

 

$

(7,840

)

$

4,736

 

$

(3,104

)
Schedule of investment maturities and repricing schedule

 

Investment Maturities and Repricing Schedule
(Dollars in Thousands)

 

 

 

Within One
Year

 

After One &
Within Five
Years

 

After Five &
Within Ten
Years

 

After Ten
Years

 

Total

 

Held-to-Maturity:

 

 

 

 

 

 

 

 

 

 

 

Collateralized mortgage obligations (residential)

 

$

—

 

$

32

 

$

—

 

$

—

 

$

32

 

Total investment securities held-to-maturity

 

$

—

 

$

32

 

$

—

 

$

—

 

$

32

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-Sale:

 

 

 

 

 

 

 

 

 

 

 

Securities of government sponsored enterprises

 

$

1,002

 

$

22,765

 

$

36,183

 

$

—

 

$

59,950

 

Mortgage backed securities (residential)

 

5,697

 

3,260

 

355

 

80,013

 

89,325

 

Collateralized mortgage obligations (residential)

 

8,169

 

101,102

 

18,543

 

—

 

127,814

 

Corporate securities

 

31,481

 

7,761

 

—

 

—

 

39,242

 

Municipal securities

 

574

 

1,895

 

3,312

 

20,326

 

26,107

 

Total investment securities available-for-sale

 

$

46,923

 

$

136,783

 

$

58,393

 

$

100,339

 

$

342,438

 
Schedule of investments' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

 

 

 

 

As of March 31, 2014

 

 

 

Less than 12 months

 

12 months or longer

 

Total

 

 

 

 

 

Gross

 

 

 

Gross

 

 

 

Gross

 

 

 

 

 

Unrealized

 

 

 

Unrealized

 

 

 

Unrealized

 

(Dollars in Thousands)

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

Available-for-Sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities of government sponsored enterprises

 

$

58,948

 

$

(1,904

)

$

—

 

$

—

 

$

58,948

 

$

(1,904

)

Mortgage-backed securities (residential)

 

61,180

 

(1,997

)

4,099

 

(56

)

65,279

 

(2,053

)

Collateralized mortgage obligations (residential)

 

36,455

 

(920

)

8,845

 

(315

)

45,300

 

(1,235

)

Municipal securities

 

466

 

(20

)

—

 

—

 

466

 

(20

)

Total investment securities

 

$

157,049

 

$

(4,841

)

$

12,944

 

$

(371

)

$

169,993

 

$

(5,212

)

 

 

 

As of December 31, 2013

 

 

 

Less than 12 months

 

12 months or longer

 

Total

 

 

 

 

 

Gross

 

 

 

Gross

 

 

 

Gross

 

 

 

 

 

Unrealized

 

 

 

Unrealized

 

 

 

Unrealized

 

(Dollars in Thousands)

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

Available-for-Sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities of government sponsored enterprises

 

$

60,789

 

$

(3,054

)

$

—

 

$

—

 

$

60,789

 

$

(3,054

)

Mortgage-backed securities (residential)

 

61,983

 

(2,966

)

4,340

 

(96

)

66,323

 

(3,062

)

Collateralized mortgage obligations (residential)

 

56,520

 

(1,329

)

9,095

 

(337

)

65,615

 

(1,666

)

Municipal securities

 

1,039

 

(58

)

 

 

 

 

1,039

 

(58

)

Total investment securities

 

$

180,331

 

$

(7,407

)

$

13,435

 

$

(433

)

$

193,766

 

$

(7,840

)