Investment Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of amortized costs and fair value of investment securities

The amortized costs and fair value of investment securities are as follows:

	December 31, 2019
	Amortized		Gross Unrealized		Fair
(dollars in thousands)	Cost		Gains	Losses	Value
Available for sale
US government agencies	$	500	-	1	499
SBA securities		550	-	19	531
State and political subdivisions		4,205	3	24	4,184
Asset-backed securities		13,351	-	184	13,167
Mortgage-backed securities
FHLMC		10,609	14	15	10,608
FNMA		35,275	34	169	35,140
GNMA		3,581	5	21	3,565
Total mortgage-backed securities		49,465	53	205	49,313
Total	$	68,071	56	433	67,694

	December 31, 2018
	Amortized		Gross Unrealized		Fair
	Cost		Gains	Losses	Value
Available for sale
US government agencies	$	8,975	1	194	8,782
SBA securities		3,628	-	103	3,525
State and political subdivisions		8,371	48	63	8,356
Asset-backed securities		9,595	12	49	9,558
Mortgage-backed securities
FHLMC		12,258	87	242	12,103
FNMA		29,068	25	551	28,542
GNMA		4,170	1	132	4,039
Total mortgage-backed securities		45,496	113	925	44,684
Total	$	76,065	174	1,334	74,905

Summary of amortized costs and fair values of investment securities available for sale by contractual maturity

The amortized costs and fair values of investment securities available for sale at December 31, 2019 and 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers have the right to prepay the obligations.

	December 31,
			2019		2018
	Amortized		Fair	Amortized	Fair
(dollars in thousands)	Cost		Value	Cost	Value
Available for sale
Due within one year	$	-	-	-	-
Due after one through five years		4,699	4,675	8,681	8,578
Due after five through ten years		10,454	10,414	22,796	22,379
Due after ten years		52,918	52,605	44,588	43,948
	$	68,071	67,694	76,065	74,905

Summary of gross unrealized losses on investment securities and fair market value of related securities

The tables below summarize gross unrealized losses on investment securities and the fair market value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2019 and 2018.

	Less than 12 months						12 months or longer							Total
		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(dollars in thousands)	#	value		losses		#	value		losses		#	value		losses
As of December 31, 2019
Available for sale
US government agencies	1	$	499	$	1	-	$	-	$	-	1	$	499	$	1
SBA securities	-		-		-	1		531		19	1		531		19
State and political subdivisions	2		2,093		24	-		-		-	2		2,093		24
Asset-backed	5		5,921		68	5		7,246		116	10		13,167		184
Mortgage-backed
FHLMC	4		3,842		2	4		2,323		13	8		6,165		15
FNMA	14		15,500		67	11		9,462		102	25		24,962		169
GNMA	2		2,240		6	1		734		15	3		2,974		21
	28	$	30,095	$	168	22	$	20,296	$	265	50	$	50,391	$	433

	Less than 12 months						12 months or longer							Total
		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(dollars in thousands)	#	value		losses		#	value		losses		#	value		losses
As of December 31, 2018
Available for sale
US government agencies	1	$	1,246	$	3	8	$	7,035	$	191	9	$	8,281	$	194
SBA securities	-		-		-	2		3,525		103	2		3,525		103
State and political subdivisions	-		-		-	7		2,829		63	7		2,829		63
Asset-backed	4		6,707		49	-		-		-	4		6,707		49
Mortgage-backed
FHLMC	-		-		-	10		7,402		242	10		7,402		242
FNMA	2		2,689		6	23		22,814		545	25		25,503		551
GNMA	1		1,104		6	3		2,919		126	4		4,023		132
	8	$	11,746	$	64	53	$	46,524	$	1,270	61	$	58,270	$	1,334

Summary of other investments

Other investments are comprised of the following and are recorded at cost which approximates fair value:

	December 31,
(dollars in thousands)	2019		2018
Federal Home Loan Bank stock	$	6,386	3,587
Other investments		159	131
Investment in Trust Preferred subsidiaries		403	403
	$	6,948	4,121