Quarterly report pursuant to Section 13 or 15(d)

Investment Securities (Tables)

v3.20.2
Investment Securities (Tables)
9 Months Ended
Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]  
Schedule of Fair Values of Securities Available for Sale

The amortized cost, gross unrealized gains and losses and approximate fair values of securities available for sale are as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

September 30, 2020

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

5,499

 

 

$

18

 

 

 

 

 

$

5,517

 

State and municipal obligations

 

 

2,418

 

 

 

60

 

 

 

 

 

 

2,478

 

Residential mortgage-backed securities

 

 

79,824

 

 

 

104

 

 

 

468

 

 

 

79,460

 

Corporate Bonds

 

 

32,373

 

 

 

44

 

 

 

58

 

 

 

32,359

 

Total available for sale

 

$

120,114

 

 

$

226

 

 

$

526

 

 

$

119,814

 

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

December 31, 2019

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

60,315

 

 

$

71

 

 

$

15

 

 

$

60,371

 

State and municipal obligations

 

 

7,861

 

 

 

120

 

 

 

 

 

 

7,981

 

Residential mortgage-backed securities

 

 

27,922

 

 

 

664

 

 

 

1

 

 

 

28,585

 

Total available for sale

 

$

96,098

 

 

$

855

 

 

$

16

 

 

$

96,937

 

Schedule of Securities Available for Sale by Contractual Maturity

The amortized cost and estimated fair value of securities available for sale, by contractual maturity, are as follows for the period presented:

 

 

 

Amortized

 

 

Fair

 

September 30, 2020

 

Cost

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

Due in one year or less

 

$

 

 

$

 

Due after one year through five years

 

 

11,949

 

 

 

11,990

 

Due after five years through ten years

 

 

6,082

 

 

 

6,050

 

Due after ten years

 

 

22,259

 

 

 

22,314

 

Residential mortgage-backed securities

 

 

79,824

 

 

 

79,460

 

Total available for sale

 

$

120,114

 

 

$

119,814

 

Schedule of Investment Securities Available for Sale and Aggregated by Investment Category and Length of Time Individual Securities in Continuous Unrealized Loss Position

The following tables present the estimated fair values and gross unrealized losses on investment securities available for sale, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position as of the periods presented:

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

September 30, 2020

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

State and municipal obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage-backed securities

 

 

72,806

 

 

 

468

 

 

 

 

 

 

 

 

 

72,806

 

 

 

468

 

Corporate Bonds

 

 

10,948

 

 

 

58

 

 

 

 

 

 

 

 

 

 

 

10,948

 

 

 

58

 

Total available for sale

 

$

83,754

 

 

$

526

 

 

$

 

 

$

 

 

$

83,754

 

 

$

526

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

December 31, 2019

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

30,762

 

 

$

15

 

 

$

 

 

$

 

 

$

30,762

 

 

$

15

 

State and municipal obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage-backed securities

 

 

 

 

 

 

 

 

481

 

 

 

1

 

 

 

481

 

 

 

1

 

Total available for sale

 

$

30,762

 

 

$

15

 

 

$

481

 

 

$

1

 

 

$

31,243

 

 

$

16