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Securities (Tables)
9 Months Ended
Sep. 30, 2020
Investments Debt And Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Values of Securities Available For Sale

The amortized cost and fair values of securities available for sale as of September 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

 

September 30, 2020

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies

 

$

19,996

 

 

$

3

 

 

$

(159

)

 

$

19,840

 

Mortgage-backed securities/CMOs

 

 

63,462

 

 

 

790

 

 

 

(94

)

 

 

64,158

 

Municipal bonds

 

 

56,268

 

 

 

1,075

 

 

 

(96

)

 

 

57,247

 

Total Securities Available for Sale

 

$

139,726

 

 

$

1,868

 

 

$

(349

)

 

$

141,245

 

 

December 31, 2019

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies

 

$

15,000

 

 

$

-

 

 

$

(48

)

 

$

14,952

 

Corporate bonds

 

 

7,469

 

 

 

-

 

 

 

-

 

 

 

7,469

 

Mortgage-backed securities/CMOs

 

 

71,970

 

 

 

76

 

 

 

(314

)

 

 

71,732

 

Municipal bonds

 

 

19,656

 

 

 

282

 

 

 

(50

)

 

 

19,888

 

Total Securities Available for Sale

 

$

114,095

 

 

$

358

 

 

$

(412

)

 

$

114,041

 

Schedule of Unrealized Losses in the Bank's Securities Portfolio

The following table summarizes all securities with unrealized losses, segregated by length of time in a continuous unrealized loss position, at September 30, 2020, and December 31, 2019 (dollars in thousands):

 

September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or more

 

 

Total

 

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

U.S. Government agencies

 

$

15,340

 

 

$

(159

)

 

$

 

 

$

 

 

$

15,340

 

 

$

(159

)

Mortgage-backed/CMOs

 

 

22,496

 

 

 

(94

)

 

 

 

 

 

 

 

 

22,496

 

 

 

(94

)

Municipal bonds

 

 

15,266

 

 

 

(96

)

 

 

 

 

 

 

 

 

15,266

 

 

 

(96

)

 

 

$

53,102

 

 

$

(349

)

 

$

 

 

$

 

 

$

53,102

 

 

$

(349

)

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or more

 

 

Total

 

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

 

Fair Value

 

 

Losses

 

U.S. Government agencies

 

$

9,957

 

 

$

(43

)

 

$

1,995

 

 

$

(5

)

 

$

11,952

 

 

$

(48

)

Mortgage-backed/CMOs

 

 

39,061

 

 

 

(228

)

 

 

7,716

 

 

 

(86

)

 

 

46,777

 

 

 

(314

)

Municipal bonds

 

 

5,922

 

 

 

(50

)

 

 

 

 

 

 

 

 

5,922

 

 

 

(50

)

 

 

$

54,940

 

 

$

(321

)

 

$

9,711

 

 

$

(91

)

 

$

64,651

 

 

$

(412

)