Investment Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

The amortized cost and estimated fair value of securities available for sale along with gross unrealized gains and losses are summarized as follows:


(dollars in thousands)
September 30, 2020	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available for Sale:
U.S. treasury securities	$	245	$	—	$	—	$	245
State, county & municipal securities	38,494		571		(159)		38,906
Corporate debt securities	3,750		3		—		3,753
Mortgage-backed securities	312,764		8,418		(485)		320,697
	$	355,253	$	8,992	$	(644)	$	363,601

December 31, 2019
Securities Available for Sale:
State, county & municipal securities	$	5,133	$	36	$	(54)	$	5,115
Corporate debt securities	2,811		11		(16)		2,806
Mortgage-backed securities	338,930		2,669		(2,188)		339,411
	$	346,874	$	2,716	$	(2,258)	$	347,332

Investments Classified by Contractual Maturity Date

This is often the case with mortgage-backed securities, which are disclosed separately in the table below.


	Securities Available for Sale
(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	892	$	895
Due after one year through five years	3,939		3,989
Due after five years through ten years	7,336		7,505
Due after ten years	30,322		30,515
	$	42,489	$	42,904

Mortgage-backed securities	312,764		320,697
	$	355,253	$	363,601

Schedule of Unrealized Loss on Investments

Information pertaining to securities with gross unrealized losses at September 30, 2020 and December 31, 2019 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:


	Less Than 12 Months				12 Months or Greater				Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
September 30, 2020
State, county & municipal securities	$	14,173	$	(159)	$	—	$	—	$	14,173	$	(159)

Mortgage-backed securities	36,344		(177)		4,185		(308)		40,529		(485)
	$	50,517	$	(336)	$	4,185	$	(308)	$	54,702	$	(644)

December 31, 2019
State, county & municipal securities	$	3,257	$	(54)	$	—	$	—	$	3,257	$	(54)
Corporate debt securities	—		—		784		(16)		784		(16)
Mortgage-backed securities	60,860		(277)		119,110		(1,911)		179,970		(2,188)
	$	64,117	$	(331)	$	119,894	$	(1,927)	$	184,011	$	(2,258)