INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities available-for-sale

The amortized cost and fair value of available for sale investment securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows (in thousands):

	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
December 31, 2019
Residential government-sponsored mortgage-backed securities	$	48,540	$	455	$	(16)	$	48,979
Obligations of states and political subdivisions		17,041		541		—		17,582
Corporate securities		2,004		8		—		2,012
Trust preferred securities		2,530		283		(245)		2,568
Residential government-sponsored collateralized mortgage obligations		36,511		217		(39)		36,689
Government-sponsored agency securities		14,823		47		(48)		14,822
Agency commercial mortgage-backed securities		27,557		192		(18)		27,731
SBA pool securities		14,622		11		(196)		14,437
Total	$	163,628	$	1,754	$	(562)	$	164,820

	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
December 31, 2018
Residential government-sponsored mortgage-backed securities	$	27,945	$	—	$	(643)	$	27,302
Obligations of states and political subdivisions		18,305		30		(280)		18,055
Corporate securities		2,008		1		(1)		2,008
Trust preferred securities		2,589		356		(304)		2,641
Residential government-sponsored collateralized mortgage obligations		44,095		3		(1,041)		43,057
Government-sponsored agency securities		3,247		—		(122)		3,125
Agency commercial mortgage-backed securities		28,069		—		(765)		27,304
SBA pool securities		20,183		10		(308)		19,885
Total	$	146,441	$	400	$	(3,464)	$	143,377

Schedule of amortized cost, unrecognized gains and losses, and fair value of held to maturity securities

The amortized cost, unrecognized gains and losses, and fair value of investment securities held to maturity were as follows (in thousands):

	Amortized		Gross Unrecognized				Fair
	Cost		Gains		Losses		Value
December 31, 2019
Residential government-sponsored mortgage-backed securities	$	22,925	$	62	$	(52)	$	22,935
Obligations of states and political subdivisions		15,071		165		(1)		15,235
Trust preferred securities		1,938		99		(2)		2,035
Residential government-sponsored collateralized mortgage obligations		3,128		10		(9)		3,129
Government-sponsored agency securities		29,386		108		(162)		29,332
Total	$	72,448	$	444	$	(226)	$	72,666

	Amortized		Gross Unrecognized				Fair
	Cost		Gains		Losses		Value
December 31, 2018
Residential government-sponsored mortgage-backed securities	$	9,699	$	4	$	(230)	$	9,473
Obligations of states and political subdivisions		21,496		85		(147)		21,434
Trust preferred securities		2,610		150		(1)		2,759
Residential government-sponsored collateralized mortgage obligations		6,001		—		(91)		5,910
Government-sponsored agency securities		52,656		—		(3,123)		49,533
Total	$	92,462	$	239	$	(3,592)	$	89,109

Schedule of fair value and carrying amount, if different, of debt securities, by contractual maturity

	Available for Sale				Held to Maturity
	Amortized				Amortized
	Cost		Fair Value		Cost		Fair Value
Due in one to five years	$	2,327	$	2,358	$	2,731	$	2,804
Due in five to ten years		12,402		12,547		12,241		12,274
Due after ten years		21,669		22,079		31,423		31,524
Residential government-sponsored mortgage-backed securities		48,540		48,979		22,925		22,935
Residential government-sponsored collateralized mortgage obligations		36,511		36,689		3,128		3,129
Agency commercial mortgage-backed securities		27,557		27,731		—		—
SBA pool securities		14,622		14,437		—		—
Total	$	163,628	$	164,820	$	72,448	$	72,666

Schedule of present information regarding securities in a continuous unrealized loss position by duration of time in a loss position

The following tables present information regarding investment securities in a continuous unrealized loss position as of December 31, 2019 and 2018 by duration of time in a loss position (in thousands):

December 31, 2019	Less than 12 months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available for Sale	value		Losses		value		Losses		value		Losses
Residential government-sponsored mortgage-backed securities	$	2,686	$	(7)	$	1,758	$	(9)	$	4,444	$	(16)
Trust preferred securities		—		—		795		(245)		795		(245)
Residential government-sponsored collateralized mortgage obligations		4,253		(25)		3,133		(14)		7,386		(39)
Government-sponsored agency securities		4,924		(48)		—		—		4,924		(48)
Agency commercial mortgage-backed securities		2,833		(6)		3,126		(12)		5,959		(18)
SBA pool securities		1,148		(2)		9,420		(194)		10,568		(196)
Total	$	15,844	$	(88)	$	18,232	$	(474)	$	34,076	$	(562)

December 31, 2019	Less than 12 months				12 Months or More				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
Held to Maturity	value		Losses		value		Losses		value		Losses
Residential government-sponsored mortgage-backed securities	$	14,978	$	(41)	$	1,402	$	(11)	$	16,380	$	(52)
Obligations of states and political subdivisions		2,011		(1)		—		—		2,011		(1)
Trust preferred securities		—		—		53		(2)		53		(2)
Residential government-sponsored collateralized mortgage obligations		1,162		(3)		571		(6)		1,733		(9)
Government-sponsored agency securities		—		—		20,833		(162)		20,833		(162)
Total	$	18,151	$	(45)	$	22,859	$	(181)	$	41,010	$	(226)

December 31, 2018	Less than 12 months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available for Sale	value		Losses		value		Losses		value		Losses
Residential government-sponsored mortgage-backed securities	$	393	$	(5)	$	26,910	$	(638)	$	27,303	$	(643)
Obligations of states and political subdivisions		2,220		(78)		13,385		(202)		15,605		(280)
Corporate securities		1,008		(1)		—		—		1,008		(1)
Trust preferred securities		—		—		795		(304)		795		(304)
Residential government-sponsored collateralized mortgage obligations		—		—		42,598		(1,041)		42,598		(1,041)
Government-sponsored agency securities		—		—		3,125		(122)		3,125		(122)
Agency commercial mortgage-backed securities		—		—		27,304		(765)		27,304		(765)
SBA pool securities		6,009		(70)		10,546		(238)		16,555		(308)
Total	$	9,630	$	(154)	$	124,663	$	(3,310)	$	134,293	$	(3,464)

December 31, 2018	Less than 12 months				12 Months or More				Total
	Fair		Unrecognized		Fair		Unrecognized		Fair		Unrecognized
Held to Maturity	value		Losses		value		Losses		value		Losses
Residential government-sponsored mortgage-backed securities	$	—	$	—	$	8,935	$	(230)	$	8,935	$	(230)
Obligations of states and political subdivisions		3,273		(10)		7,187		(137)		10,460		(147)
Trust preferred securities		—		—		60		(1)		60		(1)
Residential government-sponsored collateralized mortgage obligations		—		—		5,910		(91)		5,910		(91)
Government-sponsored agency securities		—		—		49,532		(3,123)		49,532		(3,123)
Total	$	3,273	$	(10)	$	71,624	$	(3,582)	$	74,897	$	(3,592)

Schedule of owned pooled trust preferred securities

As of December 31, 2019, we owned pooled trust preferred investment securities as follows (in thousands):

												% of		Previously
												Current		Recognized
												Defaults and		Cumulative
		Ratings When								Estimated		Deferrals to		Other
	Tranche	Purchased		Current Ratings		Par		Book		Fair		Total		Comprehensive
Security	Level	Moody's	Fitch	Moody's	Fitch	Value		Value		Value		Collateral		Loss (1)
Held to Maturity
ALESCO VII A1B	Senior	Aaa	AAA	Aa1	AA	$	2,019	$	1,882	$	1,982	17	%	$	219
MMCF III B	Senior Sub	A3	A-	Ba1	WD		57		56		53	45	%		4
						$	2,076	$	1,938	$	2,035			$	223
Available for Sale														Cumulative OTTI
Other Than														Related to
Temporarily Impaired:														Credit Loss (2)
TPREF FUNDING II	Mezzanine	A1	A-	Caa3	WD	$	1,500	$	1,040	$	795	32	%	$	400
ALESCO V C1	Mezzanine	A2	A	Caa1	C		2,150		1,490		1,773	15	%		660
						$	3,650	$	2,530	$	2,568			$	1,060
Total						$	5,726	$	4,468	$	4,603

(1) Pre-tax, and represents unrealized losses at date of transfer from available for sale to held to maturity, net of accretion

(2) Pre-tax

Schedule of changes in accumulated other comprehensive income by component

Changes in accumulated other comprehensive (loss) by component for the years ended December 31, 2019, 2018 and 2017 are shown in the table below. All amounts are net of tax (in thousands).

	Unrealized Holding
	Gains (Losses) on		Held to Maturity
For the year ended December 31, 2019	Available for Sale		Securities		Total
Beginning balance	$	(2,419)	$	(170)	$	(2,589)
Current period other comprehensive income		3,362		10		3,372
Ending balance	$	943	$	(160)	$	783

	Unrealized Holding
	Losses on		Held to Maturity
For the year ended December 31, 2018	Available for Sale		Securities		Total
Beginning balance	$	(999)	$	(153)	$	(1,152)
Amounts reclassified from accumulated other comprehensive loss due to the adoption of ASU 2018-02		(199)		(30)		(229)
Subtotal		(1,198)		(183)		(1,381)
Current period other comprehensive (loss) income		(1,221)		13		(1,208)
Ending balance	$	(2,419)	$	(170)	$	(2,589)

	Unrealized Holding
	Losses on		Held to Maturity
For the year ended December 31, 2017	Available for Sale		Securities		Total
Beginning balance	$	(627)	$	(162)	$	(789)
Other comprehensive loss before reclassifications		(372)		(246)		(618)
Amounts reclassified from accumulated other comprehensive loss		—		255		255
Net current period other comprehensive income (loss)		(372)		9		(363)
Ending balance	$	(999)	$	(153)	$	(1,152)