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Investment Securities (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Investments, Debt and Equity Securities [Abstract] |
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| Summary of Available-for-sale Securities Amortized Cost and Fair Value |
The following table summarizes the amortized cost and fair value of investment securities and the related gross unrealized gains and losses at December 31, 2014 and 2013. | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2014 | (in thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Other Than
Temporary
Impairment | | Fair Value | Investment securities available-for-sale: | | | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | 25,717 |
| | $ | 567 |
| | $ | — |
| | $ | — |
| | $ | 26,284 |
| Municipal securities | | 14,170 |
| | 690 |
| | — |
| | — |
| | 14,860 |
| Residential mortgage-backed securities | | 105,165 |
| | 3,299 |
| | (18 | ) | | — |
| | 108,446 |
| Total available-for sale | | $ | 145,052 |
| | $ | 4,556 |
| | $ | (18 | ) | | $ | — |
| | $ | 149,590 |
| | | | | | | | | | | | Investment securities held-to-maturity: | | | | | | | | | | | Residential mortgage-backed securities | | $ | 3,072 |
| | $ | 342 |
| | $ | — |
| | $ | — |
| | $ | 3,414 |
| Commercial mortgage-backed securities | | 4,277 |
| | — |
| | — |
| | — |
| | 4,277 |
| Total held-to-maturity | | $ | 7,349 |
| | $ | 342 |
| | $ | — |
| | $ | — |
| | $ | 7,691 |
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| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Other Than
Temporary
Impairment | | Fair Value | Investment securities available-for-sale: | | | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | 21,123 |
| | $ | 4 |
| | $ | (88 | ) | | $ | — |
| | $ | 21,039 |
| Municipal securities | | 14,699 |
| | 240 |
| | (170 | ) | | — |
| | 14,769 |
| Residential mortgage-backed securities | | 131,481 |
| | 2,049 |
| | (473 | ) | | — |
| | 133,057 |
| Total available-for sale | | $ | 167,303 |
| | $ | 2,293 |
| | $ | (731 | ) | | $ | — |
| | $ | 168,865 |
| | | | | | | | | | | | Investment securities held-to-maturity: | | | | | | | | | | | Residential mortgage-backed securities | | $ | 4,051 |
| | $ | 386 |
| | $ | — |
| | $ | — |
| | $ | 4,437 |
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| Summary of Held-to-maturity Securities Amortized Cost and Fair Value |
The following table summarizes the amortized cost and fair value of investment securities and the related gross unrealized gains and losses at December 31, 2014 and 2013. | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2014 | (in thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Other Than
Temporary
Impairment | | Fair Value | Investment securities available-for-sale: | | | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | 25,717 |
| | $ | 567 |
| | $ | — |
| | $ | — |
| | $ | 26,284 |
| Municipal securities | | 14,170 |
| | 690 |
| | — |
| | — |
| | 14,860 |
| Residential mortgage-backed securities | | 105,165 |
| | 3,299 |
| | (18 | ) | | — |
| | 108,446 |
| Total available-for sale | | $ | 145,052 |
| | $ | 4,556 |
| | $ | (18 | ) | | $ | — |
| | $ | 149,590 |
| | | | | | | | | | | | Investment securities held-to-maturity: | | | | | | | | | | | Residential mortgage-backed securities | | $ | 3,072 |
| | $ | 342 |
| | $ | — |
| | $ | — |
| | $ | 3,414 |
| Commercial mortgage-backed securities | | 4,277 |
| | — |
| | — |
| | — |
| | 4,277 |
| Total held-to-maturity | | $ | 7,349 |
| | $ | 342 |
| | $ | — |
| | $ | — |
| | $ | 7,691 |
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| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2013 | (in thousands) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Other Than
Temporary
Impairment | | Fair Value | Investment securities available-for-sale: | | | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | 21,123 |
| | $ | 4 |
| | $ | (88 | ) | | $ | — |
| | $ | 21,039 |
| Municipal securities | | 14,699 |
| | 240 |
| | (170 | ) | | — |
| | 14,769 |
| Residential mortgage-backed securities | | 131,481 |
| | 2,049 |
| | (473 | ) | | — |
| | 133,057 |
| Total available-for sale | | $ | 167,303 |
| | $ | 2,293 |
| | $ | (731 | ) | | $ | — |
| | $ | 168,865 |
| | | | | | | | | | | | Investment securities held-to-maturity: | | | | | | | | | | | Residential mortgage-backed securities | | $ | 4,051 |
| | $ | 386 |
| | $ | — |
| | $ | — |
| | $ | 4,437 |
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| Schedule of Unrealized Loss on Investments |
The following table reflects the gross unrealized losses and fair values of the investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. There were no investment securities held-to-maturity with unrealized losses at December 31, 2014 or 2013. | | | | | | | | | | | | | | | | | | | | December 31, 2014 | | | 12 Months or Less | | More Than 12 Months | (in thousands) | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | Investment securities available-for-sale: | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Municipal securities | | — |
| | — |
| | — |
| | — |
| Residential mortgage-backed securities | | 4,971 |
| | (6 | ) | | 3,195 |
| | (12 | ) | Total available-for sale | | $ | 4,971 |
| | $ | (6 | ) | | $ | 3,195 |
| | $ | (12 | ) | | | | | | | | | | | | December 31, 2013 | | | 12 Months or Less | | More Than 12 Months | (in thousands) | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | Investment securities available-for-sale: | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | $ | 20,521 |
| | $ | (88 | ) | | $ | — |
| | $ | — |
| Municipal securities | | 4,131 |
| | (170 | ) | | — |
| | — |
| Residential mortgage-backed securities | | 26,874 |
| | (473 | ) | | — |
| | — |
| Total available-for sale | | $ | 51,526 |
| | $ | (731 | ) | | $ | — |
| | $ | — |
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| Summary of Available-for-sale and Held-to-maturity Securities |
The amortized cost and fair value of investment securities at December 31, 2014 and 2013 are categorized in the following table by contractual maturity. Securities not due at a single maturity (i.e., mortgage-backed securities) are shown separately. | | | | | | | | | | | | | | | | | | | | December 31, 2014 | | December 31, 2013 | (in thousands) | | Amortized
Cost | | Fair
Value | | Amortized
Cost | | Fair
Value | Investment securities available-for-sale: | | | | | | | | | Obligations of U.S. Government sponsored enterprises | | | | | | | | | Due five years through ten years | | $ | 24,713 |
| | $ | 25,210 |
| | $ | 19,605 |
| | $ | 19,553 |
| Due after ten years | | 1,004 |
| | 1,074 |
| | 1,518 |
| | 1,486 |
| Municipal securities | | | | | | | | | Due within one year | | 817 |
| | 819 |
| | — |
| | — |
| Due after one year through five years | | 885 |
| | 895 |
| | 1,716 |
| | 1,745 |
| Due five years through ten years | | 688 |
| | 727 |
| | 691 |
| | 700 |
| Due after ten years | | 11,780 |
| | 12,419 |
| | 12,292 |
| | 12,324 |
| Residential mortgage-backed securities | | 105,165 |
| | 108,446 |
| | 131,481 |
| | 133,057 |
| Total available-for sale | | $ | 145,052 |
| | $ | 149,590 |
| | $ | 167,303 |
| | $ | 168,865 |
| | | | | | | | | | Investment securities held-to-maturity: | | | | | | | | | Residential mortgage-backed securities | | $ | 3,072 |
| | $ | 3,414 |
| | $ | 4,051 |
| | $ | 4,437 |
| Commercial mortgage-backed securities | | 4,277 |
| | 4,277 |
| | — |
| | — |
| Total held-to-maturity | | $ | 7,349 |
| | $ | 7,691 |
| | $ | 4,051 |
| | $ | 4,437 |
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| Schedule of Investment Securities Pledged as Collateral |
The following table summarizes the investment securities that were pledged as collateral at December 31, 2014 and 2013. | | | | | | | | | | | | December 31, | (in thousands) | | 2014 | | 2013 | Public deposits | | $ | 95,003 |
| | $ | 103,475 |
| Securities sold under repurchase agreements | | 18,778 |
| | 21,232 |
| Total pledged securities | | $ | 113,781 |
| | $ | 124,707 |
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