Securities (Tables)

9 Months Ended

Sep. 30, 2018

Securities

	September 30, 2018
	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")	$                6,705	$                        -	$                   356	$         6,349
Residential Collateralized Mortgage Obligations ("CMOs")	92,042	12	2,622	89,432
U.S. Agency	12,848	-	667	12,181
Total securities available for sale	$             111,595	$                     12	$                3,645	$     107,962
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs and U.S. Agencies
Residential MBS	$               26,728	$                     83	$                1,108	$       25,703
Residential CMOs	52,087	80	1,726	50,441
U.S. Agency	10,928	-	493	10,435
Asset-backed securities issued by Others:
Residential CMOs	522	-	41	481
Callable GSE Agency Bonds	5,011	-	200	4,811
Certificates of Deposit Fixed	947	-	-	947
U.S. government obligations	994	-	1	993
Total securities held to maturity	$               97,217	$                   163	$                3,569	$       93,811
Equity securities carried at fair value through income
CRA investment fund	$                4,359	$                        -	$                        -	$         4,359
Non-marketable equity securities
Other equity securities	$                   249	$                        -	$                        -	$            249

	December 31, 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 MBS	$                7,265	$                        -	$                   178	$         7,087
Residential CMOs	45,283	12	1,158	44,137
U.S. Agency	12,863	-	346	12,517
Bond mutual funds	4,397	26	-	4,423
Total securities available for sale	$               69,808	$                     38	$                1,682	$       68,164
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs and U.S. Agencies
Residential MBS	$               29,113	$                   135	$                   261	$       28,987
Residential CMOs	54,805	62	845	54,022
U.S. Agency	8,660	-	235	8,425
Asset-backed securities issued by Others:
Residential CMOs	651	-	52	599
Callable GSE Agency Bonds	5,017	-	43	4,974
U.S. government obligations	1,000	-	-	1,000
Total securities held to maturity	$               99,246	$                   197	$                1,436	$       98,007
Non-marketable equity securities
Other equity securities	$                   121	$                        -	$                        -	$            121

Credit Quality of Asset-Backed Securities and Agency Bonds

September 30, 2018		December 31, 2017
Credit Rating	Amount	Credit Rating	Amount
(dollars in thousands)
AAA	$             204,657	AAA	$             162,336
BB	522	BB	651
B+	-	B+	-
Total	$             205,179	Total	$             162,987

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, 2018 were as follows:

September 30, 2018	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	$       32,377	$            1,041	$           45,326	$            2,287	$           77,703	$            3,328
Callable GSE Agency Bonds	4,811	200	-	-	4,811	200
Asset-backed securities issued by Others	-	-	481	41	481	41
	$       37,188	$            1,241	$           45,807	$            2,328	$           82,995	$            3,569

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, 2017 were as follows:

December 31, 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	$       36,607	$              254	$          45,119	$           1,130	$          81,726	$           1,384
Asset-backed securities issued by Others	-	-	599	52	599	52
	$       36,607	$              254	$          45,718	$           1,182	$          82,325	$           1,436

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, 2018 were as follows:

September 30, 2018	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	$       58,438	$              998	$          43,824	$           2,648	$        102,262	$           3,646
	$       58,438	$              998	$          43,824	$           2,648	$        102,262	$           3,646

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, 2017 were as follows:

December 31, 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	$       24,571	$              328	$          38,428	$           1,354	$          62,999	$           1,682