Securities Available-for-Sale (Tables)

9 Months Ended

Sep. 30, 2021

Text Block [Abstract]

Summary of Securities Available-for-Sale

	September 30, 2021								December 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
SBA Backed Securities	$	38,663	$	623	$	1	$	39,285	$	44,328	$	—	$	289	$	44,039
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		143,949		807		148		144,608		177,239		819		317		177,741
Privately Issued Residential Mortgage-Backed Securities		239		5		—		244		330		2		4		328
Obligations Issued by States and Political Subdivisions		11,769		—		—		11,769		52,276		—		—		52,276
Other Debt Securities		8,100		191		15		8,276		8,100		24		60		8,064
Total	$	202,720	$	1,626	$	164	$	204,182	$	282,273	$	845	$	670	$	282,448

Estimated Maturity Distribution of Securities Available-for-Sale

The following table shows the maturity distribution of the Company’s securities available-for-sale at September 30, 2021.

	Amortized Cost		Fair Value
	(in thousands)
Within one year	$	13,046	$	13,068
After one but within five years		89,147		89,838
After five but within ten years		91,211		91,849
More than 10 years		9,316		9,427
Total	$	202,720	$	204,182

Continuous Unrealized Loss Position for 12 Months or Less and 12 Months and Longer

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at September 30, 2021. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for less than 12 months and a continuous loss position for 12 months or longer. There are 3 and 8 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 118 holdings at September 30, 2021.

	September 30, 2021
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
SBA Backed Securities	$	—	$	—	$	95	$	1	$	95	$	1
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		9,228		14		14,285		134		23,513		148
Privately Issued Residential Mortgage-Backed Securities		—		—		—		—		—		—
Obligations Issued by States and Political Subdivisions		—		—		—		—		—		—
Other Debt Securities		1,585		15		—		—		1,585		15
Total temporarily impaired securities	$	10,813	$	29	$	14,380	$	135	$	25,193	$	164

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at December 31, 2020. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for less than 12 months and a continuous loss position for 12 months or longer. There are 13 and 21 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 153 holdings at December 31, 2020.

	December 31, 2020
	Less than 12 months				12 months or longer				Total
Temporarily Impaired Investments	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(in thousands)
SBA Backed Securities	$	13,839	$	42	$	30,200	$	247	$	44,039	$	289
U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities		18,188		50		33,617		267		51,805		317
Privately Issued Residential Mortgage-Backed Securities		—		—		210		4		210		4
Obligations Issued by States and Political Subdivisions		—		—		—		—		—		—
Other Debt Securities		3,942		58		1,298		2		5,240		60
Total temporarily impaired securities	$	35,969	$	150	$	65,325	$	520	$	101,294	$	670