Investment Securities (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-sale Securities Amortized Cost and Fair Value

The following table summarizes the amortized cost and fair value of investment securities and the related gross unrealized gains and losses at December 31, 2017, and 2016:

	December 31, 2017
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	22,182	$	141	$	(98	)	$	22,225
Municipal securities	9,318		340		(23		)	9,635
SBA pool securities	13,031		6		(127		)	12,910
Residential mortgage-backed securities	50,251		803		(76		)	50,978
Commercial mortgage-backed securities	24,721		6		(354		)	24,373
Total available-for-sale	$	119,503	$	1,296	$	(678	)	$	120,121
Investment securities held-to-maturity:
Municipal securities	$	8,588	$	53	$	—		$	8,641
Residential mortgage-backed securities	9,100		99		(156		)	9,043
Commercial mortgage-backed securities	4,001		—		—			4,001
Total held-to-maturity	$	21,689	$	152	$	(156	)	$	21,685

	December 31, 2016
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	22,218	$	227	$	(40	)	$	22,405
Municipal securities	11,706		329		(54		)	11,981
SBA pool securities	14,142		—		(230		)	13,912
Residential mortgage-backed securities	64,141		1,584		(95		)	65,630
Commercial mortgage-backed securities	30,987		—		(605		)	30,382
Total available-for-sale	$	143,194	$	2,140	$	(1,024	)	$	144,310
Investment securities held-to-maturity:
Municipal securities	$	1,588	$	—	$	(52	)	$	1,536
Residential mortgage-backed securities	10,899		160		(157		)	10,902
Commercial mortgage-backed securities	4,096		—		—			4,096
Total held-to-maturity	$	16,583	$	160	$	(209	)	$	16,534

Summary of Held-to-maturity Securities Amortized Cost and Fair Value

The following table summarizes the amortized cost and fair value of investment securities and the related gross unrealized gains and losses at December 31, 2017, and 2016:

	December 31, 2017
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	22,182	$	141	$	(98	)	$	22,225
Municipal securities	9,318		340		(23		)	9,635
SBA pool securities	13,031		6		(127		)	12,910
Residential mortgage-backed securities	50,251		803		(76		)	50,978
Commercial mortgage-backed securities	24,721		6		(354		)	24,373
Total available-for-sale	$	119,503	$	1,296	$	(678	)	$	120,121
Investment securities held-to-maturity:
Municipal securities	$	8,588	$	53	$	—		$	8,641
Residential mortgage-backed securities	9,100		99		(156		)	9,043
Commercial mortgage-backed securities	4,001		—		—			4,001
Total held-to-maturity	$	21,689	$	152	$	(156	)	$	21,685

	December 31, 2016
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	22,218	$	227	$	(40	)	$	22,405
Municipal securities	11,706		329		(54		)	11,981
SBA pool securities	14,142		—		(230		)	13,912
Residential mortgage-backed securities	64,141		1,584		(95		)	65,630
Commercial mortgage-backed securities	30,987		—		(605		)	30,382
Total available-for-sale	$	143,194	$	2,140	$	(1,024	)	$	144,310
Investment securities held-to-maturity:
Municipal securities	$	1,588	$	—	$	(52	)	$	1,536
Residential mortgage-backed securities	10,899		160		(157		)	10,902
Commercial mortgage-backed securities	4,096		—		—			4,096
Total held-to-maturity	$	16,583	$	160	$	(209	)	$	16,534

Schedule of Unrealized Loss on Investments

There were six and seven investment securities held-to-maturity that were in an unrealized loss position at December 31, 2017, and 2016, respectively.

The following table reflects the gross unrealized losses and fair values of the investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

	December 31, 2017
	Less than 12 Months					12 Months or Longer
(in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	14,974	$	(98	)	$	—	$	—
Municipal securities	—		—			1,050		(23		)
SBA pool securities	3,285		(42		)	4,979		(85		)
Residential mortgage-backed securities	1,835		(8		)	5,383		(68		)
Commercial mortgage-backed securities	10,051		(89		)	12,360		(265		)
Total available-for-sale	$	30,145	$	(237	)	$	23,772	$	(441	)
Investment securities held-to-maturity:
Residential mortgage-backed securities	$	—	$	—		$	7,652	$	(156	)
Total held-to-maturity	$	—	$	—		$	7,652	$	(156	)
	December 31, 2016
	Less than 12 Months					12 Months or Longer
(in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises	$	10,050	$	(40	)	$	—	$	—
Municipal securities	3,380		(54		)	—		—
SBA pool securities	13,912		(230		)	—		—
Residential mortgage-backed securities	7,539		(65		)	2,624		(30		)
Commercial mortgage-backed securities	23,595		(605		)	—		—
Total available-for-sale	$	58,476	$	(994	)	$	2,624	$	(30	)
Investment securities held-to-maturity:
Municipal securities	$	1,536	$	(52	)	$	—	$	—
Residential mortgage-backed securities	8,065		(136		)	930		(21		)
Total held-to-maturity	$	9,601	$	(188	)	$	930	$	(21	)

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

The amortized cost and fair value of investment securities at December 31, 2017 and 2016 are categorized in the following table by remaining contractual maturity. The amortized cost and fair value of securities not due at a single maturity (i.e., mortgage-backed securities) are shown separately and are calculated based on estimated average remaining life:

	December 31, 2017				December 31, 2016
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Investment securities available-for-sale:
Obligations of U.S. Government sponsored enterprises
Due after one year through five years	$	21,179	$	21,160	$	15,001	$	15,112
Due after five years through ten years	1,003		1,065		7,217		7,293
Municipal securities
Due after one year through five years	1,503		1,488		431		448
Due after five years through ten years	2,753		2,877		3,961		4,070
Due after ten years	5,062		5,270		7,314		7,463
SBA pool securities
Due after five years through ten years	7,967		7,931		8,407		8,325
Due after ten years	5,064		4,979		5,735		5,587
Residential mortgage-backed securities	50,251		50,978		64,141		65,630
Commercial mortgage-backed securities	24,721		24,373		30,987		30,382
Total available-for-sale	$	119,503	$	120,121	$	143,194	$	144,310
Investment securities held-to-maturity:
Municipal securities
Due after five years through ten years	$	1,588	$	1,641	$	—	$	—
Due after ten years	7,000		7,000		1,588		1,536
Residential mortgage-backed securities	9,100		9,043		10,899		10,902
Commercial mortgage-backed securities	4,001		4,001		4,096		4,096
Total held-to-maturity	$	21,689	$	21,685	$	16,583	$	16,534

Schedule of Investment Securities Pledged as Collateral

The following table summarizes the fair value of investment securities that were pledged as collateral at December 31, 2017, and 2016:

	December 31,
(in thousands)	2017		2016
Public deposits	$	60,415	$	103,104
Securities sold under repurchase agreements	19,485		19,183
Total pledged securities	$	79,900	$	122,287