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Investment Securities | 3 Months Ended
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Mar. 31, 2020
Schedule Of Investments [Abstract] |
Investment Securities | Note 3 – Investment Securities Investment securities available for sale are carried in the consolidated balance sheets at their fair value and investment securities held to maturity are carried in the consolidated balance sheets at their amortized cost. The amortized cost and fair values of investment securities at March 31, 2020 and December 31, 2019 are as follows:
| March 31, 2020 |
(In thousands) | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 1,000 |  |  | $ | — |  |  | $ | 15 |  |  | $ | 985 |
Mortgage backed securities |  | 87,255 |  |  |  | 2,276 |  |  |  | 1,951 |  |  |  | 87,580 |
Corporate bonds |  | 10,754 |  |  |  | 46 |  |  |  | 433 |  |  |  | 10,367 |
| $ | 99,009 |  |  | $ | 2,322 |  |  | $ | 2,399 |  |  | $ | 98,932 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal | $ | 11,219 |  |  | $ | 499 |  |  | $ | 3 |  |  | $ | 11,715 |
Total Investment Securities | $ | 110,228 |  |  | $ | 2,821 |  |  | $ | 2,402 |  |  | $ | 110,647 |
| December 31, 2019 |
(In thousands) | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agencies | $ | 2,500 |  |  | $ | — |  |  | $ | 51 |  |  | $ | 2,449 |
Mortgage backed securities |  | 94,983 |  |  |  | 654 |  |  |  | 152 |  |  |  | 95,485 |
Corporate bonds |  | 10,554 |  |  |  | 87 |  |  |  | 4 |  |  |  | 10,637 |
| $ | 108,037 |  |  | $ | 741 |  |  | $ | 207 |  |  | $ | 108,571 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal | $ | 12,192 |  |  | $ | 464 |  |  | $ | 2 |  |  | $ | 12,654 |
Total Investment Securities | $ | 120,229 |  |  | $ | 1,205 |  |  | $ | 209 |  |  | $ | 121,225 |
The amortized cost and fair value of securities at March 31, 2020, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
| March 31, 2020 |
| Securities Available for Sale |  |  | Securities Held to Maturity |
(In thousands) | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due in one year or less | $ | — |  |  | $ | — |  |  | $ | 451 |  |  | $ | 453 |
Due after one year through five years |  | 2,000 |  |  |  | 1,969 |  |  |  | 1,627 |  |  |  | 1,677 |
Due after five years through ten years |  | 19,682 |  |  |  | 17,648 |  |  |  | 3,763 |  |  |  | 4,026 |
Due after ten years |  | 77,327 |  |  |  | 79,315 |  |  |  | 5,378 |  |  |  | 5,559 |
Total | $ | 99,009 |  |  | $ | 98,932 |  |  | $ | 11,219 |  |  | $ | 11,715 |
Note 3 – Investment Securities, continued A summary of unrealized losses (in thousands) and the length of time in a continuous loss position, by security type at March 31, 2020 and December 31, 2019 is as follows:
March 31, 2020 | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
| Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
State and Municipal | $ | 424 |  |  | $ | (3 | ) |  | $ | — |  |  | $ | — |  |  | $ | 424 |  |  | $ | (3 | )
U.S. Treasury and Agency |  | — |  |  |  | — |  |  |  | 985 |  |  |  | (15 | ) |  |  | 985 |  |  |  | (15 | )
Mortgage backed |  | 9,630 |  |  |  | (1,934 | ) |  |  | 942 |  |  |  | (17 | ) |  |  | 10,572 |  |  |  | (1,951 | )
Corporate bonds |  | 4,071 |  |  |  | (429 | ) |  |  | 396 |  |  |  | (4 | ) |  |  | 4,467 |  |  |  | (433 | )
Total | $ | 14,125 |  |  | $ | (2,366 | ) |  | $ | 2,323 |  |  | $ | (36 | ) |  | $ | 16,448 |  |  | $ | (2,402 | )
December 31, 2019 | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
| Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
State and Municipal | $ | 333 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |  |  | $ | 333 |  |  | $ | (2 | )
U.S. Treasury and Agency |  | — |  |  |  | — |  |  |  | 1,949 |  |  |  | (51 | ) |  |  | 1,949 |  |  |  | (51 | )
Mortgage backed |  | 27,901 |  |  |  | (82 | ) |  |  | 5,348 |  |  |  | (70 | ) |  |  | 33,249 |  |  |  | (152 | )
Corporate bonds |  | — |  |  |  | — |  |  |  | 896 |  |  |  | (4 | ) |  |  | 896 |  |  |  | (4 | )
Total | $ | 28,234 |  |  | $ | (84 | ) |  | $ | 8,193 |  |  | $ | (125 | ) |  | $ | 36,427 |  |  | $ | (209 | )
Other investments (in thousands) at March 31, 2020 consist of stock in the Federal Home Loan Bank of Atlanta (the”FHLB”) (carrying basis $6,853), Federal Reserve Bank of Richmond (“FRB”) stock (carrying basis $2,145), and various other investments (carrying basis $1,106). The Company had pledged securities (in thousands) of $69,883 and $68,255 at March 31, 2020 and December 31, 2019, respectively to the FHLB and the Treasury Board of Virginia at the Community Bankers’ Bank to secure public deposits.

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 5 -Subparagraph (SX 210.12-13) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611282-123010 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010 + Details
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