INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2016

Summary of Investments in Available-for-sale and Held-to-maturity Securities

The following is a summary of the Company's investments in available for sale and held to maturity securities as of September 30, 2016 and December 31, 2015:



As of September 30, 2016	Amortized cost		Gross unrealized gains		Gross unrealized losses		Other-than- temporary impairments in AOCI		Fair value
	(amounts in thousands)
Available for sale:
Corporate debt obligations	$	1,000	$	21	$	—	$	—	$	1,021
Residential mortgage-backed securities	35,412		833		12		—		36,233
Collateralized mortgage obligations	177		8		—		—		185
Collateralized debt obligations	761		—		—		320		441
Total available for sale	$	37,350	$	862	$	12	$	320	$	37,880

Held to maturity:
States and political subdivisions	$	2,213	$	302	$	—	$	—	$	2,515



As of December 31, 2015	Amortized cost		Gross unrealized gains		Gross unrealized losses		Other-than- temporary impairments in AOCI		Fair value
	(amounts in thousands)
Available for sale:
Corporate debt obligations	$	1,000	$	31	$	—	$	—	$	1,031
Residential mortgage-backed securities	40,788		451		418		—		40,821
Collateralized mortgage obligations	246		7		—		—		253
Collateralized debt obligations	806		—		—		344		462
Total available for sale	$	42,840	$	489	$	418	$	344	$	42,567

Held to maturity:
States and political subdivisions	$	2,181	$	290	$	—	$	—	$	2,471

Investments Classified by Contractual Maturity

The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of September 30, 2016 are as follows:



	Amortized Cost		Fair Value
	(amounts in thousands)
Available for sale:
Due within one year	$	—	$	—
Due after one year through five years	—		—
Due after five years through ten years	500		500
Due after ten years	1,261		962
Residential mortgage-backed securities and collateralized mortgage obligations	35,589		36,418
Total available for sale	$	37,350	$	37,880

Held to maturity:
Due within one year	$	—	$	—
Due after one year through five years	—		—
Due after five years through ten years	1,213		1,268
Due after ten years	1,000		1,247
Total held to maturity	$	2,213	$	2,515

Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other than temporarily impaired (“OTTI”), aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2016 and December 31, 2015:



As of September 30, 2016	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(amounts in thousands)
Available for sale:
Residential mortgage-backed securities	$	7	$	—	$	1,171	$	12	$	1,178	$	12
Total available for sale	$	7	$	—	$	1,171	$	12	$	1,178	$	12



As of December 31, 2015	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(amounts in thousands)
Available for sale:
Residential mortgage-backed securities	$	19,191	$	343	$	3,221	$	75	$	22,412	$	418
Total available for sale	$	19,191	$	343	$	3,221	$	75	$	22,412	$	418