Investment Securities (Tables)

3 Months Ended

Mar. 31, 2021

Securities Financing Transactions Disclosures [Abstract]

The amortized cost, fair value, and unrealized gains and losses on investment securities at March 31, 2021 and December 31, 2020 are as follows:

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
March 31, 2021
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies	$	2	$	—	$	—	$	2
Corporate debt securities		3,250		—		2		3,248
Total available-for-sale debt securities		3,252		—		2		3,250
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	$	16,980	$	46	$	420	$	16,606
Mortgage-backed U.S. government agencies		35,727		866		3		36,590
State and political subdivision obligations		65,335		2,455		53		67,737
Corporate debt securities		12,518		151		83		12,586
Total held-to-maturity debt securities		130,560		3,518		559		133,519
Total	$	133,812	$	3,518	$	561	$	136,769

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
December 31, 2020
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies	$	2	$	—	$	—	$	2
Corporate debt securities		5,750		—		4		5,746
Total available-for-sale debt securities		5,752		—		4		5,748
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	$	11,511	$	66	$	—	$	11,577
Mortgage-backed U.S. government agencies		40,810		948		15		41,743
State and political subdivision obligations		65,449		3,295		6		68,738
Corporate debt securities		10,522		215		1		10,736
Total held-to-maturity debt securities		128,292		4,524		22		132,794
Total	$	134,044	$	4,524	$	26	$	138,542

Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position

The following tables present gross unrealized losses and fair value of debt security investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2021 and December 31, 2020.

(Dollars in thousands)	Less Than 12 Months					12 Months or More					Total
	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
March 31, 2021	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Available-for-sale debt securities:
Corporate debt securities	1	$	998	$	2	0	$	—	$	—	1	$	998	$	2
Total temporarily impaired available-for-sale debt securities	1	$	998	$	2	0	$	—	$	—	1	$	998	$	2

Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	7	$	11,570	$	420	0	$	—	$	—	7	$	11,570	$	420
Mortgage-backed U.S. government agencies	3		1,835		3	0		—		—	3		1,835		3
State and political subdivision obligations	13		6,152		53	0		—		—	13		6,152		53
Corporate debt securities	4		4,916		83	0		—		—	4		4,916		83
Total temporarily impaired held-to-maturity debt securities	27	$	24,473	$	559	0	$	—	$	—	27	$	24,473	$	559
Total	28	$	25,471	$	561	0	$	—	$	—	28	$	25,471	$	561

(Dollars in thousands)	Less Than 12 Months					12 Months or More						Total
	Number					Number						Number
	of	Fair		Unrealized		of	Fair		Unrealized			of	Fair		Unrealized
December 31, 2020	Securities	Value		Losses		Securities	Value		Losses			Securities	Value		Losses
Available-for-sale securities:
Corporate debt securities	2	$	3,497	$	4	0	$	—		$	—	2	$	3,497	$	4
Total temporarily impaired available-for-sale securities	2	$	3,497	$	4	0	$	—		$	—	2	$	3,497	$	4

Held-to-maturity securities:
Mortgage-backed U.S. government agencies	8	$	5,336	$	15	0	$	—		$	—	8	$	5,336	$	15
State and political subdivision obligations	2		801		6	0		—			—	2		801		6
Corporate debt securities	1		449		1	0		—			—	1		449		1
Total temporarily impaired held to maturity securities	11	$	6,586	$	22	0	$	—		$	—	11	$	6,586	$	22
Total	13	$	10,083	$	26	0	$	—		$	—	13	$	10,083	$	26

Schedule of Gross Realized Gains (Losses) on Sales of Available-For-Sale Debt Securities

Gross realized gains and losses on sales of available-for-sale debt securities for the three months ended March 31, 2021 and 2020 are shown in the table below. No sales of available-for-sale securities were executed during the three months ended March 31, 2021.

(Dollars in thousands)	Three Months Ended March 31,
	2021			2020
Realized gains		$	—		$	137
Realized losses			—			(5	)
Net gains		$	—		$	132

Investments Classified by Contractual Maturity Date

The table below illustrates the maturity distribution of investment securities at amortized cost and fair value as of March 31, 2021.

(Dollars in thousands)	Available-for-sale				Held-to-maturity
	Amortized		Fair		Amortized		Fair
March 31, 2021	Cost		Value		Cost		Value
Due in 1 year or less	$	—	$	—	$	3,465	$	3,511
Due after 1 year but within 5 years		2,250		2,250		38,808		40,397
Due after 5 years but within 10 years		1,000		998		52,560		53,021
Due after 10 years		—		—		—		—
		3,250		3,248		94,833		96,929

Mortgage-backed securities		2		2		35,727		36,590
	$	3,252	$	3,250	$	130,560	$	133,519