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Investment Securities | 12 Months Ended
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Dec. 31, 2019
Investment Securities [Abstract] |
Investment Securities | NOTE 3. INVESTMENT SECURITIES The following table provides information on the amortized cost and estimated fair values of investment securities.
|  |  |  |  | Gross |  | Gross |  | Estimated
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
(Dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 23,854 |  | $ | 3 |  | $ | 31 |  | $ | 23,826
Mortgage-backed |  |  | 98,638 |  |  | 574 |  |  | 247 |  |  | 98,965
Total |  | $ | 122,492 |  | $ | 577 |  | $ | 278 |  | $ | 122,791
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 34,285 |  | $ | 2 |  | $ | 651 |  | $ | 33,636
Mortgage-backed |  |  | 124,162 |  |  | 115 |  |  | 3,481 |  |  | 120,796
Total |  | $ | 158,447 |  | $ | 117 |  | $ | 4,132 |  | $ | 154,432
The Company adopted ASU 2016‑01 effective January 1, 2018 and equity securities with an aggregate fair value of $1.3 million at December 31, 2019 and 2018 are presented separately on the balance sheet. The fair value adjustment recorded through earnings totaled $42 thousand for 2019 and $(5) thousand for 2018, respectively.
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 1,386 |  | $ | — |  | $ | 5 |  | $ | 1,381
States and political subdivisions |  |  | 400 |  |  | 1 |  |  | — |  |  | 401
Other Debt securities |  |  | 7,000 |  |  | — |  |  | 128 |  |  | 6,872
Total |  | $ | 8,786 |  | $ | 1 |  | $ | 133 |  | $ | 8,654
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 1,642 |  | $ | — |  | $ | 25 |  | $ | 1,617
States and political subdivisions |  |  | 1,401 |  |  | 14 |  |  | — |  |  | 1,415
Other Debt securities |  |  | 3,000 |  |  | — |  |  | 32 |  |  | 2,968
Total |  | $ | 6,043 |  | $ | 14 |  | $ | 57 |  | $ | 6,000
The following table provides information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018.
|  | Less than |  | More than |  |  |  |  |  |
|  | 12 Months |  | 12 Months |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(Dollars in thousands) |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 4,995 |  | $ | 5 |  | $ | 18,516 |  | $ | 26 |  | $ | 23,511 |  | $ | 31
Mortgage-backed |  |  | 12,180 |  |  | 27 |  |  | 22,282 |  |  | 220 |  |  | 34,462 |  |  | 247
Total |  | $ | 17,175 |  | $ | 32 |  | $ | 40,798 |  | $ | 246 |  | $ | 57,973 |  | $ | 278
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 1,381 |  |  | 5 |  |  | — |  |  | — |  |  | 1,381 |  |  | 5
Other debt securities |  |  | 3,905 |  |  | 95 |  |  | 2,967 |  |  | 33 |  |  | 6,872 |  |  | 128
Total |  | $ | 5,286 |  | $ | 100 |  | $ | 2,967 |  | $ | 33 |  | $ | 8,253 |  | $ | 133
|  | Less than |  | More than |  |  |  |  |  |
|  | 12 Months |  | 12 Months |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(Dollars in thousands) |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 1,079 |  | $ | 10 |  | $ | 32,362 |  | $ | 641 |  | $ | 33,441 |  | $ | 651
Mortgage-backed |  |  | 13,981 |  |  | 261 |  |  | 99,904 |  |  | 3,220 |  |  | 113,885 |  |  | 3,481
Total |  | $ | 15,060 |  | $ | 271 |  | $ | 132,266 |  | $ | 3,861 |  | $ | 147,326 |  | $ | 4,132
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | — |  |  | — |  |  | 1,617 |  |  | 25 |  |  | 1,617 |  |  | 25
Other debt securities |  |  | 2,968 |  |  | 32 |  |  | — |  |  | — |  |  | 2,968 |  |  | 32
Total |  | $ | 2,968 |  | $ | 32 |  | $ | 1,617 |  | $ | 25 |  | $ | 4,585 |  | $ | 57
All of the securities with unrealized losses in the portfolio have modest duration risk, low credit risk, and minimal losses when compared to total amortized cost. The unrealized losses on debt securities that exist are the result of market changes in interest rates since original purchase and are not related to credit concerns. Because the Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be at maturity for debt securities, the Company considers the unrealized losses to be temporary. There were thirty-three available-for-sale securities in an unrealized loss position at December 31, 2019, of which twenty-six were mortgage-backed and seven were U.S. Government agencies. Three held-to-maturity securities were in an unrealized loss position at December 31, 2019, two corporate securities and one agency. The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at December 31, 2019.
|  | Available for sale |  | Held to maturity
|  | Amortized |  |  |  |  | Amortized |  |  |
(Dollars in thousands) |  | Cost |  | Fair Value |  | Cost |  | Fair Value
Due in one year or less |  | $ | 14,012 |  | $ | 14,005 |  | $ | — |  | $ | —
Due after one year through five years |  |  | 10,449 |  |  | 10,423 |  |  | 400 |  |  | 401
Due after five years through ten years |  |  | 52,894 |  |  | 53,153 |  |  | 7,000 |  |  | 6,872
Due after ten years |  |  | 45,137 |  |  | 45,210 |  |  | 1,386 |  |  | 1,381
Total |  | $ | 122,492 |  | $ | 122,791 |  | $ | 8,786 |  | $ | 8,654
The maturity dates for debt securities are determined using contractual maturity dates. The following table sets forth the amortized cost and estimated fair values of securities which have been pledged as collateral for obligations to federal, state and local government agencies, and other purposes as required or permitted by law, or sold under agreements to repurchase. All pledged securities are in the available-for-sale investment portfolio.
|  | December 31, 2019 |  | December 31, 2018
|  | Amortized |  |  |  |  | Amortized |  |  |
(Dollars in thousands) |  | Cost |  | Fair Value |  | Cost |  | Fair Value
Pledged available-for-sale securities |  | $ | 66,904 |  | $ | 67,142 |  | $ | 99,729 |  | $ | 97,170
There were no obligations of states or political subdivisions with carrying values, as to any issuer, exceeding 10% of stockholders’ equity at December 31, 2019 or 2018. Proceeds from sales of investment securities were $0 for the years ended December 31, 2019 and 2018, respectively. There were no gains on the sale or call of investment securities for the years ended December 31, 2019 and 2018. Gross losses on sales or calls were less than $1 thousand and $0 for the years ended December 31, 2019 and 2018, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
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