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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Costs and Fair Value of Investment Securities | The amortized costs and fair value of investment securities are as follows:
| June 30, 2019
|  | Amortized |  | Gross Unrealized |  | Fair
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available for sale |  |  |  |  |  |  |  |  |
US government agencies |  | $ | 7,716 |  | 33 |  | 4 |  | 7,745
SBA securities |  |  | 4,066 |  | 60 |  | 21 |  | 4,105
State and political subdivisions |  |  | 8,019 |  | 191 |  | 1 |  | 8,209
Asset-backed securities |  |  | 10,909 |  | 1 |  | 91 |  | 10,819
Mortgage-backed securities |  |  |  |  |  |  |  |  |
FHLMC |  |  | 11,370 |  | 225 |  | 59 |  | 11,536
FNMA |  |  | 28,946 |  | 123 |  | 179 |  | 28,890
GNMA |  |  | 3,988 |  | 6 |  | 46 |  | 3,948
Total mortgage-backed securities |  |  | 44,304 |  | 354 |  | 284 |  | 44,374
Total investment securities available for sale |  | $ | 75,014 |  | 639 |  | 401 |  | 75,252
| De cember 31, 2018
|  | Amortized |  | Gross Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
Available for sale |  |  |  |  |  |  |  |  |
US government agencies |  | $ | 8,975 |  | 1 |  | 194 |  | 8,782
SBA securities |  |  | 3,628 |  | - |  | 103 |  | 3,525
State and political subdivisions |  |  | 8,371 |  | 48 |  | 63 |  | 8,356
Asset-backed securities |  |  | 9,595 |  | 12 |  | 49 |  | 9,558
Mortgage-backed securities |  |  |  |  |  |  |  |  |
FHLMC |  |  | 12,258 |  | 87 |  | 242 |  | 12,103
FNMA |  |  | 29,068 |  | 25 |  | 551 |  | 28,542
GNMA |  |  | 4,170 |  | 1 |  | 132 |  | 4,039
Total mortgage-backed securities |  |  | 45,496 |  | 113 |  | 925 |  | 44,684
Total |  | $ | 76,065 |  | 174 |  | 1,334 |  | 74,905
Schedule of Fair Values Investment Securities Available for Contractual Maturities | Contractual maturities and yields on the Company’s investment securities at June 30, 2019 and December 31, 2018 are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | June 30, 2019
|  | Less than one year |  | One to five years |  | Five to ten years |  | Over ten years |  |  |  | Total
(dollars in thousands) |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US government agencies |  | $ | - |  | - |  | 3,969 |  | 2.14 | % |  | 3,776 |  | 2.68 | % |  | - |  | - |  |  | 7,745 |  | 2.40 | %
SBA securities |  |  | - |  | - |  | - |  | - |  |  | 752 |  | 2.88 | % |  | 3,353 |  | 2.77 | % |  | 4,105 |  | 2.79 | %
State and political subdivisions |  |  | - |  | - |  | 1,127 |  | 2.97 | % |  | 4,175 |  | 2.95 | % |  | 2,907 |  | 2.88 | % |  | 8,209 |  | 2.93 | %
Asset-backed securities |  |  | - |  | - |  | - |  | - |  |  | 1,682 |  | 3.19 | % |  | 9,137 |  | 3.19 | % |  | 10,819 |  | 3.19 | %
Mortgage-backed securities |  |  | - |  | - |  | 4,658 |  | 1.94 | % |  | 8,922 |  | 2.15 | % |  | 30,794 |  | 2.63 | % |  | 44,374 |  | 2.46 | %
Total |  | $ | - |  | - |  | 9,754 |  | 2.14 | % |  | 19,307 |  | 2.55 | % |  | 46,191 |  | 2.76 | % |  | 75,252 |  | 2.63 | %
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | December 31, 2018
|  | Less than one year |  | One to five years |  | Five to ten years |  | Over ten years |  |  |  | Total
(dollars in thousands) |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield |  | Amount |  | Yield
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US government agencies |  | $ | - |  | - |  | 2,665 |  | 2.12 | % |  | 6,117 |  | 2.77 | % |  | - |  | - |  |  | 8,782 |  | 2.57 | %
SBA securities |  |  | - |  | - |  | - |  | - |  |  | - |  | - |  |  | 3,525 |  | 2.72 | % |  | 3,525 |  | 2.72 | %
State and political subdivisions |  |  | - |  | - |  | 819 |  | 2.60 | % |  | 4,637 |  | 3.04 | % |  | 2,900 |  | 2.88 | % |  | 8,356 |  | 2.94 | %
Asset-backed securities |  |  | - |  | - |  | - |  | - |  |  | 1,862 |  | 3.22 | % |  | 7,696 |  | 3.29 | % |  | 9,558 |  | 3.27 | %
Mortgage-backed securities |  |  | - |  | - |  | 5,094 |  | 1.89 | % |  | 9,763 |  | 2.22 | % |  | 29,827 |  | 2.70 | % |  | 44,684 |  | 2.50 | %
Total |  | $ | - |  | - |  | 8,578 |  | 2.03 | % |  | 22,379 |  | 2.62 | % |  | 43,948 |  | 2.81 | % |  | 74,905 |  | 2.67 | %
Schedule of Gross Unrealized Losses on Investment Securities and Fair Market Value of Related Securities | The tables below summarize gross unrealized losses on investment securities and the fair market value of the related securities at June 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
|  | June 30, 2019
|  |  |  | Less than 12 months |  |  |  |  | 12 months or longer |  |  |  |  |  |  | Total
|  |  |  | Fair |  | Unrealized |  |  |  | Fair |  | Unrealized |  |  |  | Fair |  | Unrealized
(dollars in thousands) |  | # |  | value |  | losses |  | # |  | value |  | losses |  | # |  | value |  | losses
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US government agencies |  | 1 |  | $ | 500 |  | $ | 1 |  | 2 |  | $ | 1,997 |  | $ | 3 |  | 3 |  | $ | 2,497 |  | $ | 4
SBA securities |  | - |  |  | - |  |  | - |  | 1 |  |  | 649 |  |  | 21 |  | 1 |  |  | 649 |  |  | 21
State and political subdivisions |  | - |  |  | - |  |  | - |  | 2 |  |  | 979 |  |  | 1 |  | 2 |  |  | 979 |  |  | 1
Asset-backed securities |  | 5 |  |  | 7,614 |  |  | 89 |  | 1 |  |  | 1,682 |  |  | 2 |  | 6 |  |  | 9,296 |  |  | 91
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLMC |  | - |  |  | - |  |  | - |  | 9 |  |  | 6,049 |  |  | 59 |  | 9 |  |  | 6,049 |  |  | 59
FNMA |  | 1 |  |  | 1,550 |  |  | 1 |  | 22 |  |  | 19,632 |  |  | 178 |  | 23 |  |  | 21,182 |  |  | 179
GNMA |  | - |  |  | - |  |  | - |  | 3 |  |  | 2,975 |  |  | 46 |  | 3 |  |  | 2,975 |  |  | 46
Total |  | 7 |  | $ | 9,664 |  | $ | 91 |  | 40 |  | $ | 33,963 |  | $ | 310 |  | 47 |  | $ | 43,627 |  | $ | 401
|  | December 31, 2018
|  |  |  | Less than 12 months |  |  |  |  | 12 months or longer |  |  |  |  |  |  | Total
|  |  |  | Fair |  | Unrealized |  |  |  |  | Fair |  | Unrealized |  |  |  | Fair |  | Unrealized
(dollars in thousands) |  | # |  | value |  | losses |  | # |  |  | value |  | losses |  | # |  | value |  | losses
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US government agencies |  | 1 |  | $ | 1,246 |  | $ | 3 |  | 8 |  | $ | 7,035 |  | $ | 191 |  | 9 |  | $ | 8,281 |  | $ | 194
SBA securities |  | - |  |  | - |  |  | - |  | 2 |  |  | 3,525 |  |  | 103 |  | 2 |  |  | 3,525 |  |  | 103
State and political subdivisions |  | - |  |  | - |  |  | - |  | 7 |  |  | 2,829 |  |  | 63 |  | 7 |  |  | 2,829 |  |  | 63
Asset-backed securities |  | 4 |  |  | 6,707 |  |  | 49 |  | - |  |  | - |  |  | - |  | 4 |  |  | 6,707 |  |  | 49
Mortgage-backed securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLMC |  | - |  |  | - |  |  | - |  | 10 |  |  | 7,402 |  |  | 242 |  | 10 |  |  | 7,402 |  |  | 242
FNMA |  | 2 |  |  | 2,689 |  |  | 6 |  | 23 |  |  | 22,814 |  |  | 545 |  | 25 |  |  | 25,503 |  |  | 551
GNMA |  | 1 |  |  | 1,104 |  |  | 6 |  | 3 |  |  | 2,919 |  |  | 126 |  | 4 |  |  | 4,023 |  |  | 132
Total |  | 8 |  | $ | 11,746 |  | $ | 64 |  | 53 |  | $ | 46,524 |  | $ | 1,270 |  | 61 |  | $ | 58,270 |  | $ | 1,334
Schedule of Other Investments | Other investments are comprised of the following and are recorded at cost which approximates fair value.
(dollars in thousands) | June 30, 2019 |  | December 31, 2018
Federal Home Loan Bank stock | $ | 2,774 |  | 3,587
Other investments |  | 134 |  | 131
Investment in Trust Preferred securities |  | 403 |  | 403
Total other investments | $ | 3,311 |  | 4,121

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