Securities (Tables)

9 Months Ended

Sep. 30, 2014

Trading Securities (and Certain Trading Assets)

	September 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")	$                        38	$                          6	$                           -	$                        44
Residential Collateralized          Mortgage Obligations ("CMOs")	40,136	37	1,140	39,033
Corporate equity securities	37	3	-	40
Bond mutual funds	4,174	87	-	4,261
Total securities available for sale	$                  44,385	$                      133	$                    1,140	$                  43,378
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$                  20,171	$                      696	$                        92	$                  20,775
Residential CMOs	53,587	337	745	53,179
Asset-backed securities issued by Others:
Residential CMOs	2,343	143	109	2,377
Total debt securities held to maturity	76,101	1,176	946	76,331
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                  76,851	$                    1,176	$                      946	$                  77,081

	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.

September 30, 2014		December 31, 2013
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             112,834	AAA	$             126,607
BBB	441	BBB	584
BBB-	-	BBB-	98
BB	724	BB	813
B+	-	B+	66
CCC+	738	CCC+	1,092
CCC	441	CCC	467
Total	$             115,178	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 September 30, 2014 are as follows:

September 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	$            3,043	$                 33	$           23,716	$               804	$           26,804	$               837
Asset-backed securities issued by other	81	1	1,354	108	1,435	109
	$            3,124	$                 34	$           25,115	$               912	$           28,239	$            946

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 September 30, 2014 were as follows:

September 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	$            7,325	$                  165	$           24,031	$            975	$           31,356	$            1,140

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