Securities (Tables)

6 Months Ended

Jun. 30, 2015

Trading Securities (and Certain Trading Assets)

	June 30, 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")	$                            25	$                          5	$                         -	$                        30
Residential Collateralized         Mortgage Obligations ("CMOs")	34,568	64	673	33,959
Corporate equity securities	37	3	-	40
Bond mutual funds	4,243	106	-	4,349
Total securities available for sale	$                      38,873	$                      178	$                      673	$                  38,378
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs
Residential MBS	$                      17,877	$                      601	$                        58	$                  18,420
Residential CMOs	66,087	392	591	65,888
Asset-backed securities issued by Others:
Residential CMOs	1,271	-	114	1,157
Total debt securities held to maturity	85,235	993	763	85,465
U.S. government obligations	750	-	-	750
Total securities held to maturity	$                      85,985	$                      993	$                      763	$                  86,215

	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.

June 30, 2015		December 31, 2014
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             117,953	AAA	$             119,762
BBB	-	BBB	68
BB	632	BB	695
CCC+	639	CCC+	709
Total	$             119,224	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 June 30, 2015 are as follows:

June 30, 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	8,207	89	18,880	560	27,087	649
Asset-backed securities issued by other	-	-	1,155	114	1,155	114
	$          8,207	$                 89	$         20,035	$             674	$         28,242	$             763

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 June 30, 2015 were as follows:

June 30, 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	$            2,261	$                14	$         22,193	$             659	$         24,454	$             673

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