Securities (Tables)

3 Months Ended

Mar. 31, 2015

Trading Securities (and Certain Trading Assets)

	March 31, 2015
	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")	$                                  27	$                          4	$                           -	$                        31
Residential Collateralized          Mortgage Obligations ("CMOs")	36,316	104	439	35,981
Corporate equity securities	37	3	-	40
Bond mutual funds	4,221	162	-	4,383
Total securities available for sale	$                           40,601	$                      273	$                      439	$                  40,435
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs
Residential MBS	$                           18,783	$                      763	$                        25	$                  19,521
Residential CMOs	59,784	513	301	59,996
Asset-backed securities issued by Others:
Residential CMOs	1,336	-	124	1,212
Total debt securities held to maturity	79,903	1,276	450	80,729
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                           80,653	$                    1,276	$                      450	$                  81,479

	December 31, 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 MBS	$                                  33	$                          4	$                           -	$                        37
Residential CMOs	38,294	77	830	37,541
Corporate equity securities	37	3	-	40
Bond mutual funds	4,199	122	-	4,321
Total securities available for sale	$                           42,563	$                      206	$                      830	$                  41,939
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs
Residential MBS	$                           19,501	$                      767	$                        45	$                  20,223
Residential CMOs	62,683	379	580	62,482
Asset-backed securities issued by Others:
Residential CMOs	1,472	-	112	1,360
Total debt securities held to maturity	83,656	1,146	737	84,065
U.S. government obligations	850	-	-	850
Total securities held to maturity	$                           84,506	$                    1,146	$                      737	$                  84,915

Financing Receivable Credit Quality Indicators

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

March 31, 2015		December 31, 2014
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             114,579	AAA	$             119,762
BBB	-	BBB	68
BB	662	BB	695
CCC+	674	CCC+	709
Total	$             115,915	Total	$             121,234

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 March 31, 2015 are as follows:

March 31, 2015	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	-	-	20,399	326	20,399	326
Asset-backed securities issued by other	-	-	1,211	124	1,211	124
	$              -	$                  -	$         21,610	$             450	$         21,610	$             450

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, 2014 were as follows:

December 31, 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	$       14,508	$                85	$          21,091	$              540	$          35,599	$              625
Asset-backed securities issued by other	-	-	1,291	112	1,291	112
	$       14,508	$                85	$          22,382	$              652	$          36,890	$              737

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 March 31, 2015 were as follows:

March 31, 2015	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	$              -	$                  -	$         23,610	$             439	$         23,610	$             439

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, 2014 were as follows

December 31, 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	$           294	$                  -	$         26,856	$             830	$         27,150	$             830