Securities (Tables)

6 Months Ended

Jun. 30, 2014

Trading Securities (and Certain Trading Assets)

	June 30, 2014
	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")	$                        44	$                          7	$                           -	$                        51
Residential Collateralized          Mortgage Obligations ("CMOs")	38,807	24	1,269	37,562
Corporate equity securities	37	5	-	42
Bond mutual funds	4,151	99	-	4,250
Total securities available for sale	$                  43,039	$                      135	$                    1,269	$                  41,905
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$                  21,118	$                      674	$                      125	$                  21,667
Residential CMOs	53,176	291	788	52,679
Asset-backed securities issued by Others:
Residential CMOs	2,503	138	118	2,523
Total debt securities held to maturity	76,797	1,103	1,031	76,869
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                  77,547	$                    1,103	$                    1,031	$                  77,619

	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 MBS	$                      176	$                        17	$                           -	$                      193
Residential 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

Financing Receivable Credit Quality Indicators

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

June 30, 2014		December 31, 2013
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             111,908	AAA	$             126,607
BBB	503	BBB	584
BBB-	-	BBB-	98
BB	766	BB	813
B+	-	B+	66
CCC+	773	CCC+	1,092
CCC	460	CCC	467
Total	$             114,410	Total	$             129,727

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 June 30, 2014 are as follows:

June 30, 2014	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	$            4,079	$                 45	$           25,716	$               868	$           29,795	$               913
Asset-backed securities issued by other	-	-	1,832	118	1,832	118
	$            4,079	$                 45	$           27,548	$               986	$           31,627	$            1,031

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 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	$           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 June 30, 2014 were as follows:

June 30, 2014	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	$            4,614	$                   1	$           29,572	$            1,268	$           34,187	$            1,269

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