Securities Held-to-Maturity

3 Months Ended

Mar. 31, 2019

Text Block [Abstract]

Securities Held-to-Maturity

7. Securities Held-to-Maturity

The following table is a summary of the Company’s securities held-to-maturity:

	March 31, 2019		December 31, 2018
Federal agency debt instruments (amortized cost)	$	20,159	$	20,180

The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities held-to-maturity:

	March 31, 2019			December 31, 2018
Cost/amortized cost	$	20,159		$	20,180
Gross unrealized gains		6			5
Gross unrealized losses		(1,083	)		(1,679	)
Fair value	$	19,082		$	18,506

The Company assesses these securities for other-than-temporary impairment on a quarterly basis. No securities were determined to be other-than-temporarily impaired at March 31, 2019 or December 31, 2018. The Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell the securities before recovery of their amortized cost bases, which may be maturity.

The following table sets forth the maturity profile of the securities held-to-maturity; however, these securities may be called prior to maturity date:

	March 31, 2019		December 31, 2018
Due within one year	$	—	$	—
Due one year through five years		—		—
Due five years through ten years		7,519		7,521
Due over ten years		12,640		12,659
Total	$	20,159	$	20,180