Securities (Tables)
|
6 Months Ended |
Jun. 30, 2021 |
|---|
| Investments Debt And Equity Securities [Abstract] |
|
| Schedule of Amortized Cost, Corresponding Amounts of Gross Unrealized Gains and Losses and Estimated Fair Value of Securities AFS |
The following table summarizes the amortized cost, the corresponding amounts of gross unrealized gains and losses, and estimated fair value of securities AFS as of June 30, 2021 and December 31, 2020:
|
($ in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
As of June 30, 2021: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government agencies or sponsored agency securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage-backed securities |
|
$ |
28,965 |
|
|
$ |
322 |
|
|
$ |
(81 |
) |
|
$ |
29,206 |
|
|
Residential collateralized mortgage obligations |
|
|
82,554 |
|
|
|
569 |
|
|
|
(497 |
) |
|
|
82,626 |
|
|
Total available for sale |
|
$ |
111,519 |
|
|
$ |
891 |
|
|
$ |
(578 |
) |
|
$ |
111,832 |
|
|
($ in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
As of December 31, 2020: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government-sponsored agency securities |
|
$ |
1,000 |
|
|
$ |
5 |
|
|
$ |
— |
|
|
$ |
1,005 |
|
|
U.S. Government agencies or sponsored agency securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage-backed securities |
|
$ |
19,281 |
|
|
$ |
430 |
|
|
$ |
(7 |
) |
|
$ |
19,704 |
|
|
Residential collateralized mortgage obligations |
|
|
70,318 |
|
|
|
814 |
|
|
|
(50 |
) |
|
|
71,082 |
|
|
Total available for sale |
|
$ |
90,599 |
|
|
$ |
1,249 |
|
|
$ |
(57 |
) |
|
$ |
91,791 |
|
|
| Schedule of Amortized Cost and Estimated Fair Value of Securities AFS by Contractual Maturity |
There were no sales of securities AFS in the three and six months ended June 30, 2021 and 2020. The amortized cost and estimated fair value of securities AFS at June 30, 2021, by contractual maturity, are shown below.
|
($ in thousands) |
|
|
|
|
|
Amortized
Cost |
|
|
Fair
Value |
|
|
As of June 30, 2021: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government agencies or sponsored agency securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
After one year through five years |
|
|
|
|
|
$ |
827 |
|
|
$ |
866 |
|
|
After five years through ten years |
|
|
|
|
|
|
4,446 |
|
|
|
4,607 |
|
|
After ten years |
|
|
|
|
|
|
106,246 |
|
|
|
106,359 |
|
|
Total available for sale |
|
|
|
|
|
$ |
111,519 |
|
|
$ |
111,832 |
|
|
| Schedule of Fair Value and Associated Gross Unrealized Losses on AFS Securities by Length of Time in Continuous Loss |
The following table presents the fair value and the associated gross unrealized losses on AFS securities by length of time those individual securities in each category have been in a continuous loss at June 30, 2021 and December 31, 2020:
|
($ in thousands) |
|
Less Than 12 Months |
|
|
12 Months or Longer |
|
|
Total |
|
|
As of June 30, 2021: |
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government agencies or sponsored agency
securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage-backed securities |
|
$ |
12,229 |
|
|
$ |
(81 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
12,229 |
|
|
$ |
(81 |
) |
|
Residential collateralized mortgage
obligations |
|
|
46,738 |
|
|
|
(491 |
) |
|
|
1,844 |
|
|
|
(6 |
) |
|
|
48,582 |
|
|
|
(497 |
) |
|
Total available for sale |
|
$ |
58,967 |
|
|
$ |
(572 |
) |
|
$ |
1,844 |
|
|
$ |
(6 |
) |
|
$ |
60,811 |
|
|
$ |
(578 |
) |
|
($ in thousands) |
|
Less Than 12 Months |
|
|
12 Months or Longer |
|
|
Total |
|
|
As of December 31, 2020: |
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross Unrealized
Losses |
|
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government agencies or sponsored agency
securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgage-backed securities |
|
$ |
3,089 |
|
|
$ |
(7 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,089 |
|
|
$ |
(7 |
) |
|
Residential collateralized mortgage
obligations |
|
|
13,593 |
|
|
|
(50 |
) |
|
|
— |
|
|
|
— |
|
|
|
13,593 |
|
|
|
(50 |
) |
|
Total available for sale |
|
$ |
16,682 |
|
|
$ |
(57 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
16,682 |
|
|
$ |
(57 |
) |
|
| Schedule of Other Investments Securities |
The following table presents the other investment securities, which are included in Other investments on the Consolidated Balance Sheet as of June 30, 2021 and December 31, 2020:
|
($ in thousands) |
|
|
|
|
|
June 30,
2021 |
|
|
December 31,
2020 |
|
|
Federal Home Loan Bank stock |
|
|
|
|
|
$ |
7,005 |
|
|
$ |
6,043 |
|
|
Pacific Coast Bankers Bank stock |
|
|
|
|
|
|
190 |
|
|
|
190 |
|
|
Mutual fund - CRA qualified |
|
|
|
|
|
|
3,738 |
|
|
|
3,773 |
|
|
Total other investment securities |
|
|
|
|
|
$ |
10,933 |
|
|
$ |
10,006 |
|
|