Securities (Tables)

6 Months Ended

Jun. 30, 2017

Securities

	June 30, 2017
	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 and    U.S. Agencies
Residential Mortgage Backed Securities ("MBS")	$                6,229	$                        -	$                     83	$                6,146
Residential Collateralized  Mortgage        Obligations ("CMOs")	34,185	16	595	33,606
U.S. Agency	10,213	-	198	10,015
Corporate equity securities	37	-	-	37
Bond mutual funds	4,432	52	-	4,484
Total securities available for sale	$               55,096	$                     68	$                   876	$               54,288
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs and     U.S. Agencies
Residential MBS	$               30,612	$                   413	$                     74	$               30,951
Residential CMOs	60,500	190	449	60,241
U.S. Agency	8,970	7	102	8,875
Asset-backed securities issued by Others:
Residential CMOs	740	-	62	678
Callable GSE Agency Bonds	5,020	10	-	5,030
U.S. government obligations	1,000	-	-	1,000
Total securities held to maturity	$             106,842	$                   620	$                   687	$             106,775

	December 31, 2016
	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 and    U.S. Agencies
Residential MBS	$                4,377	$                        -	$                   194	$                4,183
Residential CMOs	35,176	18	966	34,228
U.S. Agency	10,589	-	417	10,172
Corporate equity securities	37	-	-	37
Bond mutual funds	4,386	27	-	4,413
Total securities available for sale	$              54,565	$                     45	$                1,577	$             53,033
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs and    U.S. Agencies
Residential MBS	$               34,735	$                   367	$                   569	$               34,533
Residential CMOs	63,060	135	802	62,393
U.S. Agency	6,717	-	253	6,464
Asset-backed securities issued by Others:
Residential CMOs	884	-	81	803
Callable GSE Agency Bonds	3,001	-	10	2,991
U.S. government obligations	850	-	-	850
Total securities held to maturity	$             109,247	$                   502	$                1,715	$             108,034

Credit Quality of Asset-Backed Securities and Agency Bonds

GSE asset-backed securities and GSE agency bonds with S&P AA+ ratings were treated as AAA based on regulatory guidance.

June 30, 2017		December 31, 2016
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             155,869	AAA	$             156,947
BB	740	BB	411
B+	-	B+	472
Total	$             156,609	Total	$             157,830

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, 2017 were as follows:

June 30, 2017	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 and U.S. Agencies	55,262	504	6,003	121	61,265	625
Asset-backed securities issued by Others	-	-	678	62	678	62
	$       55,262	$              504	$           6,681	$              183	$          61,943	$              687

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, 2016 were as follows:

December 31, 2016	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 and U.S. Agencies	$       77,879	$            1,452	$            6,340	$               182	$           84,219	$            1,634
Asset-backed securities issued by   Others	-	-	803	81	803	81
	$       77,879	$            1,452	$            7,143	$               263	$           85,022	$            1,715

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, 2017 were as follows:

June 30, 2017	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 and U.S. Agencies	$       33,710	$              536	$          13,314	$              340	$          47,024	$              876

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, 2016 were as follows:

December 31, 2016	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 and U.S. Agencies	$       34,262	$            1,110	$           11,846	$               467	$           46,108	$            1,577