Investment Securities Available-for-Sale (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Values of Investment Securities Available-for-Sale

The following tables present the amortized cost and estimated fair values of investment securities at June 30, 2016 and December 31, 2015, all of which were available-for-sale:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
June 30, 2016:
U.S Government agencies	$	2,202	$	61	$	—	$	2,263
State and municipal		44,264		933		14		45,183
U.S. Government agencies and sponsored enterprises (GSEs) - residential:
Mortgage-backed securities		16,100		273		—		16,373
Corporate debt obligations		10,040		262		48		10,254
Equity securities, financial services		193		32		45		180
	$	72,799	$	1,561	$	107	$	74,253
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
December 31, 2015:
U.S Treasuries	$	103	$	—	$	—	$	103
U.S Government agencies		4,708		29		—		4,737
State and municipal		34,197		587		14		34,770
U.S. Government agencies and sponsored enterprises (GSEs) - residential:
Mortgage-backed securities		25,942		116		35		26,023
Collateralized mortgage obligations (CMOs)		1,741		35		3		1,773
Corporate debt obligations		7,989		17		62		7,945
Equity securities, financial services		471		31		2		499
	$	75,151	$	815	$	116	$	75,850

Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale, by Contractual Maturity

The amortized cost and fair value of debt securities available-for-sale at June 30, 2016, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to prepay obligations, with or without call or prepayment penalties:

	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	231	$	234
Due after one year through five years		1,629		1,667
Due after five years through ten years		11,255		11,492
Due after ten years		43,391		44,307
		56,506		57,700
Mortgage-backed securities		16,100		16,373
Equity securities		193		180
		16,293		16,553
	$	72,799	$	74,253

Schedule of Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time

Information with respect to securities with gross unrealized losses at June 30, 2016 and December 31, 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows:

	Less Than 12 Months				More Than 12 Months				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
June 30, 2016:
Available-for-sale:
State and municipal	$	4,080	$	9	$	287	$	5	$	4,367	$	14
Corporate debt obligations		3,452		48		—		—		3,452		48
Equity securities, financial services		118		45		—		—		118		45
	$	7,650	$	102	$	287	$	5	$	7,937	$	107
December 31, 2015:
Available-for-sale:
State and municipal	$	—	$	—	$	652	$	14	$	652	$	14
Mortgage-backed securities		9,513		35		—		—		9,513		35
Collateralized mortgage obligations (CMOs)		725		3		—		—		725		3
Corporate debt obligations		3,937		62		—		—		3,937		62
Equity securities, financial services		164		2		—		—		164		2
	$	14,339	$	102	$	652	$	14	$	14,991	$	116