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Available-for-Sale Securities (Tables)
12 Months Ended
Dec. 31, 2017
Investments Debt And Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Available-for-Sale Securities

The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale securities at December 31, 2017 and 2016 are summarized as follows:

 

 

 

December 31, 2017

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

U.S. Government and Federal Agencies

 

$

24,911

 

 

$

 

 

$

(359

)

 

$

24,552

 

Mortgage-Backed Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

1,118

 

 

 

 

 

 

(15

)

 

 

1,103

 

GNMA Certificates

 

 

3,205

 

 

 

38

 

 

 

(1

)

 

 

3,242

 

 

 

$

29,234

 

 

$

38

 

 

$

(375

)

 

$

28,897

 

 

 

 

December 31, 2016

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

U.S. Government and Federal Agencies

 

$

41,906

 

 

$

 

 

$

(347

)

 

$

41,559

 

Certificates of Deposit

 

 

500

 

 

 

 

 

 

 

 

 

500

 

Mortgage-Backed Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FHLMC Certificates

 

 

192

 

 

 

24

 

 

 

 

 

 

216

 

FNMA Certificates

 

 

3,600

 

 

 

11

 

 

 

(5

)

 

 

3,606

 

GNMA Certificates

 

 

6,744

 

 

 

97

 

 

 

(32

)

 

 

6,809

 

 

 

$

52,942

 

 

$

132

 

 

$

(384

)

 

$

52,690

 

 

Company's Securities' Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position

The following tables present the Company's securities' gross unrealized losses and fair values, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at December 31, 2017 and 2016:

 

 

 

December 31, 2017

 

 

 

Securities With Gross Unrealized Losses

 

 

 

Less Than 12 Months

 

 

12 Months or More

 

 

Total

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

U.S. Government and Federal Agencies

 

$

 

 

$

 

 

$

24,552

 

 

$

(359

)

 

$

24,552

 

 

$

(359

)

Mortgage-Backed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

1,094

 

 

 

(15

)

 

 

 

 

 

 

 

 

1,094

 

 

 

(15

)

GNMA Certificates

 

 

1,205

 

 

 

(1

)

 

 

 

 

 

 

 

 

1,205

 

 

 

(1

)

 

 

$

2,299

 

 

$

(16

)

 

$

24,552

 

 

$

(359

)

 

$

26,851

 

 

$

(375

)

 

 

 

 

December 31, 2016

 

 

 

Securities With Gross Unrealized Losses

 

 

 

Less Than 12 Months

 

 

12 Months or More

 

 

Total

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

U.S. Government and Federal Agencies

 

$

41,559

 

 

$

(347

)

 

$

 

 

$

 

 

$

41,559

 

 

$

(347

)

Mortgage-Backed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

3,489

 

 

 

(5

)

 

 

 

 

 

 

 

 

3,489

 

 

 

(5

)

GNMA Certificates

 

 

2,645

 

 

 

(32

)

 

 

 

 

 

 

 

 

2,645

 

 

 

(32

)

 

 

$

47,693

 

 

$

(384

)

 

$

 

 

$

 

 

$

47,693

 

 

$

(384

)

 

Summary of Maturities of Securities

The following is a summary of maturities of securities at December 31, 2017 and 2016. Amounts are shown by contractual maturity. Because borrowers of the underlying collateral for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table.

 

 

 

December 31, 2017

 

 

 

Available-for-Sale

 

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

U.S. Government and Federal Agency Securities:

 

 

 

 

 

 

 

 

Amounts maturing:

 

 

 

 

 

 

 

 

Three months or less

 

$

 

 

$

 

After three months through one year

 

 

1,990

 

 

 

1,977

 

After one year through five years

 

 

22,921

 

 

 

22,575

 

 

 

 

24,911

 

 

 

24,552

 

Mortgage-Backed Securities

 

 

4,323

 

 

 

4,345

 

Total

 

$

29,234

 

 

$

28,897

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Available-for-Sale

 

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

U.S. Government and Federal Agency Securities:

 

 

 

 

 

 

 

 

Amounts maturing:

 

 

 

 

 

 

 

 

After three months through one year

 

$

2,000

 

 

$

1,998

 

After one year through five years

 

 

39,906

 

 

 

39,561

 

 

 

 

41,906

 

 

 

41,559

 

Certificates of Deposit

 

 

 

 

 

 

 

 

After three months through one year

 

 

500

 

 

 

500

 

Mortgage-Backed Securities

 

 

10,536

 

 

 

10,631

 

Total

 

$

52,942

 

 

$

52,690