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SECURITIES
 6 Months Ended
Jun. 30, 2020
SECURITIES [Abstract]  
SECURITIES
NOTE 3 – SECURITIES

The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at June 30, 2020 and December 31, 2019, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive (loss) and gross unrecognized gains and losses:

Securities Available for Sale
  
Amortized
Cost
    
Gross Unrealized
Gains
    
Gross Unrealized
Losses
    
Estimated
Fair Value
  
June 30, 2020
                        
U.S. Government sponsored entity securities
  
$
15,223
    
$
410
    
$
—
    
$
15,633
  
Agency mortgage-backed securities, residential
    
96,074
      
3,291
      
(11
)
    
99,354
  
Total securities
  
$
111,297
    
$
3,701
    
$
(11
)
  
$
114,987
  
                                 
December 31, 2019
                                
U.S. Government sponsored entity securities
  
$
16,579
    
$
163
    
$
(6
)
  
$
16,736
  
Agency mortgage-backed securities, residential
    
88,071
      
807
      
(296
)
    
88,582
  
Total securities
  
$
104,650
    
$
970
    
$
(302
)
  
$
105,318
  

Securities Held to Maturity
  
Amortized
Cost
    
Gross Unrecognized
Gains
    
Gross Unrecognized
Losses
    
Estimated
Fair Value
  
June 30, 2020
                        
Obligations of states and political subdivisions
  
$
11,767
    
$
365
    
$
—
    
$
12,132
  
Agency mortgage-backed securities, residential
    
2
      
—
      
—
      
2
  
Total securities
  
$
11,769
    
$
365
    
$
—
    
$
12,134
  
                                 
December 31, 2019
                                
Obligations of states and political subdivisions
  
$
12,031
    
$
372
    
$
(1
)
  
$
12,402
  
Agency mortgage-backed securities, residential
    
2
      
—
      
—
      
2
  
Total securities
  
$
12,033
    
$
372
    
$
(1
)
  
$
12,404
  

The amortized cost and estimated fair value of debt securities at June 30, 2020, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities.  Securities not due at a single maturity are shown separately.

  
Available for Sale
    
Held to Maturity
  
 
Debt Securities:
  
Amortized
Cost
    
Estimated
Fair Value
    
Amortized
Cost
    
Estimated
Fair Value
  
                         
Due in one year or less
  
$
6,892
    
$
6,974
    
$
819
    
$
836
  
Due in over one to five years
    
8,331
      
8,659
      
6,725
      
6,928
  
Due in over five to ten years
    
—
      
—
      
4,223
      
4,368
  
Agency mortgage-backed securities, residential
    
96,074
      
99,354
      
2
      
2
  
Total debt securities
  
$
111,297
    
$
114,987
    
$
11,769
    
$
12,134
  

The following table summarizes securities with unrealized losses at June 30, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position:

June 30, 2020
  
Less Than 12 Months
    
12 Months or More
    
Total
  
   
Fair Value
    
Unrealized Loss
    
Fair Value
    
Unrealized Loss
    
Fair Value
    
Unrealized Loss
  
Securities Available for Sale
                                    
Agency mortgage-backed
                                    
securities, residential
  
$
10,435
    
$
(11
)
  
$
—
    
$
—
    
$
10,435
    
$
(11
)
Total available for sale
  
$
10,435
    
$
(11
)
  
$
—
    
$
—
    
$
10,435
    
$
(11
)

Less Than 12 Months
  
12 Months or More
  
Total
  
 
Fair Value
  
Unrecognized Loss
  
Fair Value
  
Unrecognized Loss
  
Fair Value
  
Unrecognized Loss
  
Securities Held to Maturity
                                    
Obligations of states and political subdivisions
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—
  
Total held to maturity
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—
  

December 31, 2019
  
Less Than 12 Months
    
12 Months or More
    
Total
  
   
Fair Value
    
Unrealized Loss
    
Fair Value
    
Unrealized Loss
    
Fair Value
    
Unrealized Loss
  
Securities Available for Sale
                                    
U.S. Government sponsored entity securities
  
$
—
    
$
—
    
$
1,999
    
$
(6
)
  
$
1,999
    
$
(6
)
Agency mortgage-backedsecurities, residential
    
15,041
      
(84
)
    
21,344
      
(212
)
    
36,385
      
(296
)
Total available for sale
  
$
15,041
    
$
(84
)
  
$
23,343
    
$
(218
)
  
$
38,384
    
$
(302
)

Less Than 12 Months
  
12 Months or More
  
Total
  
 
Fair Value
  
Unrecognized Loss
  
Fair Value
  
Unrecognized Loss
  
Fair Value
  
Unrecognized Loss
  
Securities Held to Maturity
                                    
Obligations of states and political subdivisions
  
$
204
    
$
(1
)
  
$
—
    
$
—
    
$
204
    
$
(1
)
Total held to maturity
  
$
204
    
$
(1
)
  
$
—
    
$
—
    
$
204
    
$
(1
)

There were no sales of investment securities during the three and six months ended June 30, 2020 or 2019. Unrealized losses on the Company’s debt securities have not been recognized into income because the issuers’ securities are of high credit quality as of June 30, 2020, and management does not intend to sell, and it is likely that management will not be required to sell, the securities prior to their anticipated recovery.  Management does not believe any individual unrealized loss at June 30, 2020 and December 31, 2019 represents an other-than-temporary impairment.