Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Approximate Fair Values of Available for Sale Securities with Unrealized Gains and Losses

The following tables provide the composition of investment securities at March 31, 2015 and December 31, 2014 (dollars in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at March 31, 2015
Ginnie Mae and GSE mortgage-backed pass-through securities	$	44,129	$	637	$	27	$	44,739
Ginnie Mae collateralized mortgage obligations		1,976		—		15		1,961
Mutual fund		1,836		58		—		1,894
	$	47,941	$	695	$	42	$	48,594

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at March 31, 2015
GSE mortgage-backed pass-through securities	$	4,534	$	44	$	—	$	4,578
Municipal securities		5,402		17		—		5,419
	$	9,936	$	61	$	—	$	9,997

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale at December 31, 2014
Ginnie Mae and GSE mortgage-backed pass-through securities	$	43,675	$	566	$	43	$	44,198
Ginnie Mae collateralized mortgage obligations		2,053		—		34		2,019
Mutual fund		1,826		41		—		1,867
	$	47,554	$	607	$	77	$	48,084

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held to maturity at December 31, 2014
GSE mortgage-backed pass-through securities	$	4,736	$	20	$	—	$	4,756
Municipal securities		2,346		8		—		2,354
	$	7,082	$	28	$	—	$	7,110

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at March 31, 2015 by contractual maturity are shown below (dollars in thousands). Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale
	Amortized Cost		Fair Value
Within one year	$	—	$	—
One to five years		—		—
Five to ten years		—		—
After ten years		—		—
		—		—
Ginnie Mae and GSE mortgage-backed pass-through securities		44,129		44,739
Ginnie Mae collateralized mortgage obligations		1,976		1,961
Mutual fund		1,836		1,894
	$	47,941	$	48,954

	Held to Maturity
	Amortized Cost		Fair Value
Within one year	$	359	$	360
One to five years		1,558		1,563
Five to ten years		2,260		2,266
After ten years		1,225		1,230
Municipal securities		5,402		5,419
GSE mortgage-backed pass-through securities		4,534		4,578
	$	9,936	$	9,997

Company's Investments' Gross Unrealized Losses and Fair Value

The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014 (dollars in thousands):

	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Available for sale at March 31, 2015
Ginnie Mae and GSE mortgage-backed pass-through securities	$	6,321	$	26	$	24	$	1	$	6,345	$	27
Ginnie Mae collateralized mortgage obligations		—		—		1,961		15		1,961		15
	$	6,321	$	26	$	1,985	$	16	$	8,306	$	42
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Available for sale at December 31, 2014
Ginnie Mae and GSE mortgage-backed pass-through securities	$	5,540	$	5	$	4,563	$	38	$	10,103	$	43
Ginnie Mae collateralized mortgage obligations		—		—		2,019		34		2,019		34
	$	5,540	$	5	$	6,582	$	72	$	12,122	$	77