Investment Securities and Other Investments (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Amortized Cost and Fair Values of 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 December 31, 2020 and December 31, 2019 were as follows:

	December 31, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available for sale
State and municipal	$	14,069	$	258	$	68	$	14,259
U.S. Treasury and agencies		2,500		—		91		2,409
Mortgage backed securities		72,337		696		398		72,635
Corporate bonds		19,755		469		52		20,172
Total investment securities	$	108,661	$	1,423	$	609	$	109,475

	December 31, 2019
(Dollars 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

Summary of Fair Value and Gross Unrealized Losses of Securities in Continuous Unrealized Loss Position

The following table shows fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2020 and 2019. The reference point for determining when securities are in an unrealized loss position is period-end; therefore, it is possible that a security's market value exceeded its amortized cost on other days during the past twelve-month period.

	December 31, 2020
	Less than 12 Months					12 Months or Greater					Total
(Dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	3,111	$	(68	)	$	—	$	—		$	3,111	$	(68	)
U.S. Treasury and agencies		2,410		(91	)		—		—			2,410		(91	)
Mortgage backed securities		20,545		(65	)		8,592		(333	)		29,137		(398	)
Corporate bonds		3,242		(7	)		1,955		(45	)		5,197		(52	)
Total	$	29,308	$	(231	)	$	10,547	$	(378	)	$	39,855	$	(609	)

	December 31, 2019
	Less than 12 Months					12 Months or Greater					Total
(Dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	333	$	(2	)	$	—	$	—		$	333	$	(2	)
U.S. Treasury and agencies		—		—			1,949		(51	)		1,949		(51	)
Mortgage backed securities		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	)

Summary of Investments Classified by Contractual Maturity Date

The amortized cost and fair value of securities at December 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.

	December 31, 2020
	Securities Available for Sale
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	3,427	$	930
Due after one year through five years		6,305		6,963
Due after five years through ten years		32,003		34,057
Due after ten years		66,926		67,525
Total	$	108,661	$	109,475