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Investments (Tables)
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities
The cost or amortized cost, gross unrealized gain or loss, and estimated fair value of the investments in securities classified as available for sale at March 31, 2018 and December 31, 2017, were as follows (dollars in thousands):
 
March 31, 2018
 
Cost or
Amortized
Cost
Gross Unrealized
Estimated
Fair Value 
 
 
Gains
Losses
Debt Securities:
 
 
 
 
U.S. Government
$
15,896

$
4

$
(222
)
$
15,678

State and local government
16,668

85

(201
)
16,552

Corporate debt
38,806

92

(651
)
38,247

Asset-backed securities
25,331

37

(110
)
25,258

Mortgage-backed securities
33,981

22

(1,242
)
32,761

Commercial mortgage-backed securities
3,935

—

(85
)
3,850

Collateralized mortgage obligations
2,408

12

(54
)
2,365

Total debt securities available for sale
$
137,025

$
252

$
(2,565
)
$
134,711

 
December 31, 2017
 
Cost or
Amortized
Cost
Gross Unrealized
Estimated
Fair Value 
 
Gains
Losses
Debt Securities:
 
 
 
 
U.S. Government
$
17,179

$
10

$
(99
)
$
17,090

State and local government
17,302

255

(54
)
17,503

Corporate debt
38,947

170

(209
)
38,908

Asset-backed securities
23,539

36

(35
)
23,540

Mortgage-backed securities
33,942

38

(522
)
33,458

Commercial mortgage-backed securities
3,532

3

(44
)
3,491

Collateralized mortgage obligations
2,563

19

(36
)
2,546

Total debt securities available for sale
137,004

531

(999
)
136,536

Equity Securities (1)
8,629

1,240

(182
)
9,687

Total securities available for sale
$
145,633

$
1,771

$
(1,181
)
$
146,223


(1) Effective January 1, 2018, the Company adopted ASU No. 2016-01. As a result, equity securities are no longer classified as available-for-sale. Prior periods have not been recast to conform to the current presentation. Refer to Note 1 ~ Summary of Significant Accounting Policies for further details.
Schedule of Unrealized Loss Positions
The following table summarizes the aggregate fair value and gross unrealized losses, by security type, of the available-for-sale securities in unrealized loss positions. The table segregates the holdings based on the length of time that individual securities have been in a continuous unrealized loss position, as follows (dollars in thousands): 
 
March 31, 2018
 
Less than 12 months
 
Greater than 12 months
 
Total
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
Fixed Maturity Securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government
12

$
12,889

$
(175
)
 
6

$
1,960

$
(47
)
 
18

$
14,849

$
(222
)
State and local government
39

10,338

(145
)
 
7

1,380

(56
)
 
46

11,718

(201
)
Corporate debt
62

21,989

(284
)
 
10

6,350

(367
)
 
72

28,339

(651
)
Asset-backed securities
23

14,448

(101
)
 
3

793

(9
)
 
26

15,241

(110
)
Mortgage-backed securities
11

8,175

(191
)
 
27

23,390

(1,051
)
 
38

31,565

(1,242
)
Commercial mortgage-backed securities
4

2,732

(32
)
 
2

667

(53
)
 
6

3,399

(85
)
Collateralized mortgage obligations
9

1,869

(54
)
 
—

—

—

 
9

1,869

(54
)
Total debt securities available for sale
160

$
72,440

$
(982
)
 
55

$
34,540

$
(1,583
)
 
215

$
106,980

$
(2,565
)
 
December 31, 2017
 
Less than 12 months
 
Greater than 12 months
 
Total
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
 
No.
of
Issues
Fair Value of
Investments
with Unrealized
Losses
Gross
Unrealized
Losses
Fixed Maturity Securities:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government
12

$
11,555

$
(64
)
 
7

$
2,207

$
(35
)
 
19

$
13,762

$
(99
)
State and local government
10

3,511

(20
)
 
7

1,424

(34
)
 
17

4,935

(54
)
Corporate debt
38

15,236

(46
)
 
10

6,555

(163
)
 
48

21,791

(209
)
Asset-backed securities
20

13,948

(29
)
 
3

915

(6
)
 
23

14,863

(35
)
Mortgage-backed securities
6

4,935

(19
)
 
26

24,939

(503
)
 
32

29,874

(522
)
Commercial mortgage-backed securities
3

2,026

(12
)
 
2

722

(32
)
 
5

2,748

(44
)
Collateralized mortgage obligations
8

1,870

(36
)
 
—

—

—

 
8

1,870

(36
)
Total debt securities available for sale
97

53,081

(226
)
 
55

36,762

(773
)
 
152

89,843

(999
)
Equity Securities (1)
13

436

(75
)
 
4

266

(107
)
 
17

702

(182
)
Total securities
110

$
53,517

$
(301
)
 
59

$
37,028

$
(880
)
 
169

$
90,545

$
(1,181
)

(1) Effective January 1, 2018, the Company adopted ASU No. 2016-01. As a result, equity securities are no longer classified as available-for-sale. Prior periods have not been recast to conform to the current presentation. Refer to Note 1 ~ Summary of Significant Accounting Policies for further details.
Schedule of Investment Income
The Company’s sources of net investment income are as follows (dollars in thousands):
 
Three Months Ended March 31,
 
2018
 
2017
Debt securities
$
826

 
$
601

Equity securities
27

 
25

Cash and short-term investments
23

 
11

Total investment income
876

 
637

Investment expenses
(74
)
 
(60
)
Net investment income
$
802

 
$
577
Schedule of Gross Realized Gains and Losses on Securities
The following table summarizes the gross realized gains and losses from sales or maturities of available-for-sale fixed maturity and equity securities (dollars in thousands):
 
Three Months Ended March 31,
 
2018
 
2017
Debt securities:
 
 
 
Gross realized gains
$
2

 
$
—

Gross realized losses
(5
)
 
(7
)
Total debt securities
(3
)
 
(7
)
Equity securities:
 
 
 
Gross realized gains
170

 
29

Gross realized losses
(6
)
 
(30
)
Total equity securities
164

 
(1
)
Total net realized gains (losses)
$
161

 
$
(8
)
Summary of Amortized Cost and Fair Value of Securities
The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at March 31, 2018. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties (dollars in thousands):
 
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
13,283

 
$
13,258

Due after one year through five years
36,167

 
35,701

Due after five years through ten years
12,271

 
12,011

Due after ten years
9,649

 
9,507

Securities with contractual maturities
71,370

 
70,477

Asset-backed securities
25,331

 
25,258

Mortgage-backed securities
33,981

 
32,761

Commercial mortgage-backed securities
3,935

 
3,850

Collateralized mortgage obligations
2,408

 
2,365

Total debt securities
$
137,025

 
$
134,711