Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investments Debt And Equity Securities [Abstract]

Schedule of Available-for-sale Securities

The cost or amortized cost, gross unrealized gain or loss, and estimated fair value of the investments in securities classified as available-for-sale at December 31, 2019 and 2018 were as follows (dollars in thousands):

	December 31, 2019
	Cost or		Gross Unrealized
	Amortized Cost		Gains		Losses			Estimated Fair Value
Debt securities:
U.S. Government	$	9,392	$	66	$	(6	)	$	9,452
State and local government		14,388		545		—			14,933
Corporate debt		39,550		865		(21	)		40,394
Asset-backed securities		19,549		81		(55	)		19,575
Mortgage-backed securities		31,389		238		(112	)		31,515
Commercial mortgage-backed securities		9,972		116		(45	)		10,043
Collateralized mortgage obligations		5,073		29		(14	)		5,088
Total debt securities available for sale	$	129,313	$	1,940	$	(253	)	$	131,000

	December 31, 2018
	Cost or		Gross Unrealized
	Amortized Cost		Gains		Losses			Estimated Fair Value
Debt securities:
U.S. Government	$	15,360	$	3	$	(178	)	$	15,185
State and local government		15,847		115		(174	)		15,788
Corporate debt		30,423		74		(651	)		29,846
Asset-backed securities		24,468		24		(208	)		24,284
Mortgage-backed securities		30,377		18		(1,155	)		29,240
Commercial mortgage-backed securities		4,025		5		(77	)		3,953
Collateralized mortgage obligations		2,178		9		(43	)		2,144
Total debt securities available for sale	$	122,678	$	248	$	(2,486	)	$	120,440

Schedule of Unrealized Loss Positions

The following table summarizes the aggregate fair value and gross unrealized losses, by security type, of the available-for-sale securities in unrealized loss positions. The table segregates the holdings based on the length of time that individual securities have been in a continuous unrealized loss position (dollars in thousands):

	December 31, 2019
	Less than 12 months							12 months or More							Total
	No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses
Debt securities:
U.S. Government		-	$	-	$	-			4	$	1,047	$	(6	)		4	$	1,047	$	(6	)
State and local government		-		-		-			-		-		-			-		-		-
Corporate debt		7		3,720		(17	)		3		1,697		(4	)		10		5,417		(21	)
Asset-backed securities		3		2,596		(1	)		18		11,836		(54	)		21		14,432		(55	)
Mortgage-backed securities		3		715		(1	)		13		7,812		(111	)		16		8,527		(112	)
Commercial mortgage   -backed securities		6		6,837		(45	)		-		-		-			6		6,837		(45	)
Collateralized mortgage   obligations		8		2,081		(14	)		-		-		-			8		2,081		(14	)
Total debt securities   available for sale		27		15,949		(78	)		38		22,392		(175	)		65		38,341		(253	)

	December 31, 2018
	Less than 12 months							12 months or More							Total
	No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses
Debt securities:
U.S. Government		1	$	2,470	$	(24	)		16	$	11,725	$	(154	)		17	$	14,195	$	(178	)
State and local government		21		4,935		(40	)		16		4,273		(134	)		37		9,208		(174	)
Corporate debt		36		12,096		(140	)		25		11,993		(511	)		61		24,089		(651	)
Asset-backed securities		25		17,743		(148	)		9		4,166		(60	)		34		21,909		(208	)
Mortgage-backed securities		20		5,474		(138	)		30		21,715		(1,017	)		50		27,189		(1,155	)
Commercial mortgage   -backed securities		4		1,082		(12	)		3		2,632		(65	)		7		3,714		(77	)
Collateralized mortgage   obligations		4		116		(1	)		6		1,587		(42	)		10		1,703		(43	)
Total debt securities   available for sale		111		43,916		(503	)		105		58,091		(1,983	)		216		102,007		(2,486	)

Schedule of Investment Income

The Company’s sources of net investment income are as follows (dollars in thousands):

	December 31,
	2019			2018			2017
Debt securities	$	3,476		$	3,419		$	2,757
Equity securities		352			129			124
Cash, cash equivalents, and short-term investments		487			85			122
Total investment income		4,315			3,633			3,003
Investment expenses		(284	)		(297	)		(275	)
Net investment income	$	4,031		$	3,336		$	2,728

Schedule of Gross Realized Gains and Losses on Securities

The following table summarizes the gross realized gains and losses from sales or maturities of available-for-sale debt securities and equity securities, as follows (dollars in thousands):

	December 31,
	2019			2018			2017
Debt securities:
Gross realized gains	$	269		$	54		$	32
Gross realized losses		(54	)		(256	)		(8	)
Total debt securities		215			(202	)		24
Equity securities:
Gross realized gains		1,020			337			76
Gross realized losses		(39	)		(74	)		(30	)
Total equity securities		981			263			46
Total net investment realized gains	$	1,196		$	61		$	70

Summary of Amortized Cost and Fair Value of Securities

The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at December 31, 2019.  Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties (dollars in thousands):

	Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,276	$	7,293
Due after one year through five years		31,575		32,152
Due after five years through ten years		15,237		15,767
Due after ten years		9,242		9,567
Securities with contractual maturities		63,330		64,779
Asset-backed securities		19,549		19,575
Mortgage-backed securities		31,389		31,515
Commercial mortgage-backed securities		9,972		10,043
Collateralized mortgage obligations		5,073		5,088
Total debt securities	$	129,313	$	131,000