Securities (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Investments, Debt and Equity Securities [Abstract] |
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Schedule of Amortized Cost and Fair Value of Investment Securities Available-for-sale |
The amortized cost and fair value of securities available-for-sale as of the dates indicated are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | December 31, | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | (Dollars in Thousands) | | | | | | | | | | | | | | | | Available-for-Sale Debt Securities: | | | | | | | | U.S. Government Agencies | $ | 53,992 | | | $ | 2 | | | $ | (1,433) | | | $ | 52,561 | | Obligations of States and Political Subdivisions | 17,951 | | | 1,004 | | | — | | | 18,955 | | Mortgage-Backed Securities - Government-Sponsored Enterprises | 55,373 | | | 1,468 | | | (282) | | | 56,559 | | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 88,493 | | | 164 | | | (2,074) | | | 86,583 | | Corporate Debt | 7,481 | | | — | | | (31) | | | 7,450 | | Total Available-for-Sale Debt Securities | $ | 223,290 | | | $ | 2,638 | | | $ | (3,820) | | | 222,108 | | | | | | | | | | Equity Securities: | | | | | | | | Mutual Funds | | | | | | | 990 | | Other | | | | | | | 1,876 | | Total Equity Securities | | | | | | | 2,866 | | Total Securities | | | | | | | $ | 224,974 | |
| | | | | | | | | | | | | | | | | | | | | | | | | 2020 | December 31, | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | (Dollars in Thousands) | | | | | | | | | | | | | | | | Available-for-Sale Debt Securities: | | | | | | | | U.S. Government Agencies | $ | 41,994 | | | $ | 12 | | | $ | (595) | | | $ | 41,411 | | Obligations of States and Political Subdivisions | 20,672 | | | 1,321 | | | — | | | 21,993 | | Mortgage-Backed Securities - Government-Sponsored Enterprises | 75,900 | | | 3,593 | | | — | | | 79,493 | | | | | | | | | | Total Available-for-Sale Debt Securities | $ | 138,566 | | | $ | 4,926 | | | $ | (595) | | | 142,897 | | | | | | | | | | Equity Securities: | | | | | | | | Mutual Funds | | | | | | | 1,019 | | Other | | | | | | | 1,484 | | Total Equity Securities | | | | | | | 2,503 | | Total Securities | | | | | | | $ | 145,400 | |
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Schedule of Gross Unrealized Losses and Fair Value on Investments |
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | Less than 12 months | | 12 Months or Greater | | Total | December 31, | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | (Dollars in Thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Government Agencies | 5 | | | $ | 17,729 | | | $ | (269) | | | 7 | | | $ | 31,830 | | | $ | (1,164) | | | 12 | | | $ | 49,559 | | | $ | (1,433) | | | | | | | | | | | | | | | | | | | | Mortgage-Backed Securities - Government Sponsored Enterprises | 8 | | | 28,772 | | | (282) | | | — | | | — | | | — | | | 8 | | | 28,772 | | | (282) | | Collateralized Mortgage Obligations - Government Sponsored Enterprises | 10 | | | 77,560 | | | (2,074) | | | — | | | — | | | — | | | 10 | | | 77,560 | | | (2,074) | | Corporate Debt | 2 | | | 7,450 | | | (31) | | | — | | | — | | | — | | | 2 | | | 7,450 | | | (31) | | Total | 25 | | | $ | 131,511 | | | $ | (2,656) | | | 7 | | | $ | 31,830 | | | $ | (1,164) | | | 32 | | | $ | 163,341 | | | $ | (3,820) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2020 | | Less than 12 months | | 12 Months or Greater | | Total | December 31, | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | | Number of Securities | | Fair Value | | Gross Unrealized Losses | (Dollars in Thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Government Agencies | 7 | | $ | 32,399 | | | $ | (595) | | | — | | $ | — | | | $ | — | | | 7 | | $ | 32,399 | | | $ | (595) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | 7 | | $ | 32,399 | | | $ | (595) | | | — | | $ | — | | | $ | — | | | 7 | | $ | 32,399 | | | $ | (595) | |
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Schedule of Maturities of Investment Securities Available-for-sale |
The scheduled maturities of securities available-for-sale are summarized as follows. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay debt obligations with or without prepayment penalties. Mortgage-backed securities and collateralized mortgage obligations are classified in the table below based on their contractual maturity date; however, regular principal payments and prepayments of principal are received on a monthly basis. | | | | | | | | | | | | | 2021 | December 31, | Amortized Cost | | Fair Value | (Dollars in Thousands) | | | | | | | | Due in One Year or Less | $ | 2,580 | | | $ | 2,604 | | Due after One Year through Five Years | 4,471 | | | 4,457 | | Due after Five Years through Ten Years | 77,913 | | | 77,639 | | Due after Ten Years | 138,326 | | | 137,408 | | Total | $ | 223,290 | | | $ | 222,108 | |
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Schedule of Realized Gain (Loss) |
The following table presents the gross realized gain and loss on sales of debt securities, as well as gain and loss on equity securities from both sales and market adjustments for the periods indicated. All gains and losses presented in the table below are reported in Net Gain on Securities on the Consolidated Statements of Income (Loss). | | | | | | | | | | | | Year Ended December 31, | 2021 | | 2020 | (Dollars in Thousands) | | | | | | | | Debt Securities | | | | Gross Realized Gain | $ | 225 | | | $ | 489 | | Gross Realized Loss | — | | | — | | Net Gain on Debt Securities | $ | 225 | | | $ | 489 | | | | | | Equity Securities | | | | Net Unrealized Gain (Loss) Recognized on Securities Held | $ | 295 | | | $ | (267) | | Net Realized Gain Recognized on Securities Sold | 6 | | | 11 | | Net Gain (Loss) on Equity Securities | $ | 301 | | | $ | (256) | | Net Gain on Securities | $ | 526 | | | $ | 233 | |
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