Annual report pursuant to Section 13 and 15(d)

Investment Securities (Tables)

v3.20.4
Investment Securities (Tables)
12 Months Ended
Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]  
Schedule of Fair Values of Debt Securities Available for Sale

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

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

December 31, 2020

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

36,258

 

 

$

927

 

 

$

-

 

 

$

37,185

 

Residential mortgage-backed securities

 

 

132,130

 

 

 

278

 

 

 

267

 

 

 

132,142

 

Corporate bonds and other debt securities

 

 

42,768

 

 

 

433

 

 

 

109

 

 

 

43,093

 

Total available for sale

 

$

211,156

 

 

$

1,638

 

 

$

376

 

 

$

212,420

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

December 31, 2019

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

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:

 

 

 

Amortized

 

 

Fair

 

December 31, 2020

 

Cost

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

Due in one year or less

 

$

1,970

 

 

$

1,977

 

Due after one year through five years

 

 

4,483

 

 

 

4,509

 

Due after five years through ten years

 

 

36,031

 

 

 

36,385

 

Due after ten years

 

 

36,542

 

 

 

37,407

 

Residential mortgage-backed securities

 

 

132,130

 

 

 

132,142

 

Total available for sale

 

$

211,156

 

 

$

212,420

 

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

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2020

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage-backed securities

 

$

53,598

 

 

$

267

 

 

$

 

 

$

 

 

$

53,598

 

 

$

267

 

Corporate bonds and other debt securities

 

 

17,087

 

 

 

109

 

 

 

 

 

 

 

 

 

17,087

 

 

 

109

 

Total available for sale

 

$

70,685

 

 

$

376

 

 

$

 

 

$

 

 

$

70,685

 

 

$

376

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2019

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

30,762

 

 

$

15

 

 

$

 

 

$

 

 

$

30,762

 

 

$

15

 

U.S. Government agencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage-backed securities

 

 

 

 

 

 

 

 

481

 

 

 

1

 

 

 

481

 

 

 

1

 

Corporate bonds and other debt securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total available for sale

 

$

30,762

 

 

$

15

 

 

$

481

 

 

$

1

 

 

$

31,243

 

 

$

16

 

Sale Proceeds and Gross Realized Gains and Losses on Sale of Securities Available for Sale Sale proceeds and gross realized gains and losses on the sale of securities available for sale are shown below. The cost of securities sold is based on the specific identification method.

 

 

 

For the Years Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(Dollars in thousands)

 

Sale proceeds from sale of available for sale securities

 

$

34,023

 

 

$

171,260

 

 

$

 

Gross realized gains

 

 

1,031

 

 

 

4,637

 

 

 

 

Gross realized losses

 

 

 

 

 

(55

)

 

 

 

Net realized gains (losses)

 

$

1,031

 

 

$

4,582

 

 

$