Securities (Tables)

12 Months Ended

Dec. 31, 2013

Trading Securities (and Certain Trading Assets)

	December 31, 2013
	Amortized	Gross Unrealized	Gross Unrealized	Estimated
(dollars in thousands)	Cost	Gains	Losses	Fair Value
Securities available for sale (AFS)
Asset-backed securities issued by GSEs
Residential Mortgage Backed           Securities ("MBS")	$                      176	$                        17	$                           -	$                      193
Residential Collateralized          Mortgage Obligations ("CMOs")	45,299	63	1,479	43,883
Corporate equity securities	37	4	-	41
Bond mutual funds	4,108	22	-	4,130
Total securities available for sale	$                  49,620	$                      106	$                    1,479	$                  48,247
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$                  22,662	$                      625	$                      214	$                  23,073
Residential CMOs	59,869	265	943	59,191
Asset-backed securities issued by Others:
Residential CMOs	3,120	114	157	3,077
Total debt securities held to maturity	85,651	1,004	1,314	85,341
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                  86,401	$                    1,004	$                    1,314	$                  86,091

	December 31, 2012
	Amortized	Gross Unrealized	Gross Unrealized	Estimated
(dollars in thousands)	Cost	Gains	Losses	Fair Value
Securities available for sale (AFS)
Asset-backed securities issued by GSEs
Residential MBS	$                      198	$                        33	$                           -	$                      231
Residential CMOs	42,508	267	119	42,656
Corporate equity securities	37	-	-	37
Bond mutual funds	4,013	269	-	4,282
Total securities available for sale	$                  46,756	$                      569	$                      119	$                  47,206
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$                  31,239	$                    1,237	$                           -	$                  32,476
Residential CMOs	76,191	716	98	76,809
Asset-backed securities issued by Others:
Residential CMOs	4,439	197	484	4,152
Total debt securities held to maturity	111,869	2,150	582	113,437
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                112,619	$                    2,150	$                      582	$                114,187

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2012 are as follows:

December 31, 2012	Less Than 12		More Than 12
	Months		Months		Total
(dollars in thousands)	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$           14,254	$                 90	$            6,132	$                   8	$           20,386	$                 98
Asset-backed securities issued by other	-	-	3,058	484	3,058	484
	$           14,254	$                 90	$            9,190	$               492	$           23,444	$               582

Investments Classified by Contractual Maturity Date

	Available for Sale		Held to Maturity
		Estimated		Estimated
	Amortized	Fair	Amortized	Fair
(dollars in thousands)	Cost	Value	Cost	Value
Bond mutual funds
Within one year	$              4,108	$            4,130	$               750	$               750
Asset-backed securities
Within one year	7,827	7,587	16,371	16,310
Over one year through five years	20,561	19,928	38,641	38,502
Over five years through ten years	12,074	11,702	20,148	20,076
After ten years	5,013	4,859	10,491	10,453
Total asset-backed securities	45,475	44,076	85,651	85,341
	$            49,583	$          48,206	$          86,401	$          86,091

Financing Receivable Credit Quality Indicators

GSE asset-backed security downgrades by Standard and Poor’s were treated as AAA based on regulatory guidance.

December 31, 2013		December 31, 2012
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             126,607	AAA	$             150,318
A+	-	A+	-
A	-	A	111
BBB	584	BBB	978
BBB-	98	BBB-	322
BB+	-	BB+	-
BB	813	BB	1,070
BB-	-	BB-	69
B+	66	B+	1,008
CCC+	1,092	CCC+	-
CCC	467	CCC	882
Total	$             129,727	Total	$             154,758

Held-To-Maturity Securities [Member]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2013 are as follows:

December 31, 2013	Less Than 12		More Than 12
	Months		Months		Total
(dollars in thousands)	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$           36,705	$            1,000	$            6,832	$               157	$           43,537	$            1,157
Asset-backed securities issued by other	97	-	2,399	157	2,496	157
	$           36,802	$            1,000	$            9,231	$               314	$           46,033	$            1,314

Available-For-Sale Securities [Member]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at December 31, 2013 were as follows:

December 31, 2013	Less Than 12		More Than 12
	Months		Months		Total
(dollars in thousands)	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$           28,669	$            1,016	$            8,352	$               463	$           37,021	$            1,479