XML 42 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

Investment Securities | 3 Months Ended
--- | ---
Mar. 31, 2020
Investment Securities [Abstract] |
Investment Securities | Note 4 – Investment Securities The following tables provide information on the amortized cost and estimated fair values of debt securities.
|  |  |  |  | Gross |  | Gross |  | Estimated
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
(Dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 9,721 |  | $ | 37 |  | $ | 3 |  | $ | 9,755
Mortgage-backed |  |  | 92,641 |  |  | 2,001 |  |  | 22 |  |  | 94,620
Total |  | $ | 102,362 |  | $ | 2,038 |  | $ | 25 |  | $ | 104,375
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
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 1,287 |  | $ | 43 |  | $ | — |  | $ | 1,330
States and political subdivisions |  |  | 400 |  |  | 1 |  |  | — |  |  | 401
Other Debt securities |  |  | 7,000 |  |  | 20 |  |  | 33 |  |  | 6,987
Total |  | $ | 8,687 |  | $ | 64 |  | $ | 33 |  | $ | 8,718
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
Equity securities with an aggregate fair value of $1.4 million at March 31, 2020 and $1.3 million at December 31, 2019 are presented separately on the balance sheet. The fair value adjustment recorded through earnings totaled $1 thousand for the three months ended March 31, 2020 and $22 thousand for the three months ended March 31, 2019, respectively. The following tables provide 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 March 31, 2020 and December 31, 2019.
|  | Less than |  | More than |  |  |  |  |  |
|  | 12 Months |  | 12 Months |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(Dollars in thousands) |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | — |  | $ | — |  | $ | 407 |  | $ | 3 |  | $ | 407 |  | $ | 3
Mortgage-backed |  |  | — |  |  | — |  |  | 4,605 |  |  | 22 |  |  | 4,605 |  |  | 22
Total |  | $ | — |  | $ | — |  | $ | 5,012 |  | $ | 25 |  | $ | 5,012 |  | $ | 25
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other debt securities |  | $ | — |  | $ | — |  | $ | 2,967 |  | $ | 33 |  | $ | 2,967 |  | $ | 33
Total |  | $ | — |  | $ | — |  | $ | 2,967 |  | $ | 33 |  | $ | 2,967 |  | $ | 33
|  | 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
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. 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 five available-for-sale securities and one held-to-maturity security in an unrealized loss position at March 31, 2020. The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at March 31, 2020.
|  | Available for sale |  | Held to maturity
|  | Amortized |  |  |  |  | Amortized |  |  |
(Dollars in thousands) |  | Cost |  | Fair Value |  | Cost |  | Fair Value
Due in one year or less |  | $ | 9,003 |  | $ | 9,036 |  | $ | — |  | $ | —
Due after one year through five years |  |  | 2,185 |  |  | 2,217 |  |  | 400 |  |  | 401
Due after five years through ten years |  |  | 49,727 |  |  | 50,899 |  |  | 7,000 |  |  | 6,987
Due after ten years |  |  | 41,447 |  |  | 42,223 |  |  | 1,287 |  |  | 1,330
Total |  | $ | 102,362 |  | $ | 104,375 |  | $ | 8,687 |  | $ | 8,718
The maturity dates for debt securities are determined using contractual maturity dates.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration