Securities (Tables)

9 Months Ended

Sep. 30, 2017

Securities [Abstract]

Amortized cost and fair value of investment securities AFS

The amortized cost and estimated fair values of our AFS securities portfolio were as follows as of September 30, 2017:

	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
U.S. government agency notes	$	3,135	$	-	$	6	$	3,129

Amortized cost and fair value of investment securities held to maturity

The amortized cost and estimated fair values of our held-to-maturity (“HTM”) securities portfolio were as follows:

	September 30, 2017
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
U.S. Treasury securities	$	7,996	$	106	$	-	$	8,102
U.S. government agency notes		19,008		137		43		19,102
Mortgage-backed securities		31,760		97		102		31,755
	$	58,764	$	340	$	145	$	58,959

	December 31, 2016
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
	(dollars in thousands)
U.S. Treasury securities	$	12,998	$	167	$	-	$	13,165
U.S. government agency notes		20,027		133		54		20,106
Mortgage-backed securities		29,732		52		228		29,556
	$	62,757	$	352	$	282	$	62,827

Schedule of temporary impairment losses

Gross unrealized losses and fair value by length of time that the individual HTM securities have been in an unrealized loss position at the dates indicated are presented in the following tables:

	September 30, 2017
	Less than 12 months				12 months or more				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
	(dollars in thousands)
U.S. government agency notes	$	4,000	$	2	$	7,005	$	41	$	11,005	$	43
Mortgage-backed securities		11,687		39		7,501		63		19,188		102
	$	15,687	$	41	$	14,506	$	104	$	30,193	$	145

	December 31, 2016
	Less than 12 months				12 months or more				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
	(dollars in thousands)
U.S. government agency notes	$	5,002	$	54	$	-	$	-	$	5,002	$	54
Mortgage-backed securities		23,457		228		-		-		23,457		228
	$	28,459	$	282	$	-	$	-	$	28,459	$	282

Amortized cost and estimated fair value of debt securities

Contractual maturities of debt securities at September 30, 2017 are shown below.  Actual maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

	AFS Securities				HTM Securities
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(dollars in thousands)
Due in one year or less	$	-	$	-	$	10,009	$	10,014
Due after one through five years		3,135		3,129		15,030		15,112
Due after five years through ten years		-		-		1,965		2,078
Mortgage-backed securities		-		-		31,760		31,755
	$	3,135	$	3,129	$	58,764	$	58,959