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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Summary of amortized costs and fair value of investment securities | The amortized costs and fair value of investment securities are as follows:
|  | December 31, 2019
|  | Amortized |  | Gross Unrealized |  | Fair
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available for sale |  |  |  |  |  |  |  |  |
US government agencies |  | $ | 500 |  | - |  | 1 |  | 499
SBA securities |  |  | 550 |  | - |  | 19 |  | 531
State and political subdivisions |  |  | 4,205 |  | 3 |  | 24 |  | 4,184
Asset-backed securities |  |  | 13,351 |  | - |  | 184 |  | 13,167
Mortgage-backed securities |  |  |  |  |  |  |  |  |
FHLMC |  |  | 10,609 |  | 14 |  | 15 |  | 10,608
FNMA |  |  | 35,275 |  | 34 |  | 169 |  | 35,140
GNMA |  |  | 3,581 |  | 5 |  | 21 |  | 3,565
Total mortgage-backed securities |  |  | 49,465 |  | 53 |  | 205 |  | 49,313
Total |  | $ | 68,071 |  | 56 |  | 433 |  | 67,694
|  | December 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
Summary of amortized costs and fair values of investment securities available for sale by contractual maturity | The amortized costs and fair values of investment securities available for sale at December 31, 2019 and 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers have the right to prepay the obligations.
|  | December 31,
|  |  |  |  | 2019 |  |  |  | 2018
|  | Amortized |  | Fair |  | Amortized |  | Fair
(dollars in thousands) |  | Cost |  | Value |  | Cost |  | Value
Available for sale |  |  |  |  |  |  |  |  |
Due within one year |  | $ | - |  | - |  | - |  | -
Due after one through five years |  |  | 4,699 |  | 4,675 |  | 8,681 |  | 8,578
Due after five through ten years |  |  | 10,454 |  | 10,414 |  | 22,796 |  | 22,379
Due after ten years |  |  | 52,918 |  | 52,605 |  | 44,588 |  | 43,948
|  | $ | 68,071 |  | 67,694 |  | 76,065 |  | 74,905
Summary 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, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2019 and 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
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US government agencies |  | 1 |  | $ | 499 |  | $ | 1 |  | - |  | $ | - |  | $ | - |  | 1 |  | $ | 499 |  | $ | 1
SBA securities |  | - |  |  | - |  |  | - |  | 1 |  |  | 531 |  |  | 19 |  | 1 |  |  | 531 |  |  | 19
State and political subdivisions |  | 2 |  |  | 2,093 |  |  | 24 |  | - |  |  | - |  |  | - |  | 2 |  |  | 2,093 |  |  | 24
Asset-backed |  | 5 |  |  | 5,921 |  |  | 68 |  | 5 |  |  | 7,246 |  |  | 116 |  | 10 |  |  | 13,167 |  |  | 184
Mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLMC |  | 4 |  |  | 3,842 |  |  | 2 |  | 4 |  |  | 2,323 |  |  | 13 |  | 8 |  |  | 6,165 |  |  | 15
FNMA |  | 14 |  |  | 15,500 |  |  | 67 |  | 11 |  |  | 9,462 |  |  | 102 |  | 25 |  |  | 24,962 |  |  | 169
GNMA |  | 2 |  |  | 2,240 |  |  | 6 |  | 1 |  |  | 734 |  |  | 15 |  | 3 |  |  | 2,974 |  |  | 21
|  | 28 |  | $ | 30,095 |  | $ | 168 |  | 22 |  | $ | 20,296 |  | $ | 265 |  | 50 |  | $ | 50,391 |  | $ | 433
|  | Less than 12 months |  |  |  | 12 months or longer |  |  |  |  |  |  | Total
|  |  |  | Fair |  | Unrealized |  |  |  | Fair |  | Unrealized |  |  |  | Fair |  | Unrealized
(dollars in thousands) |  | # |  | value |  | losses |  | # |  | value |  | losses |  | # |  | value |  | losses
As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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 |  | 4 |  |  | 6,707 |  |  | 49 |  | - |  |  | - |  |  | - |  | 4 |  |  | 6,707 |  |  | 49
Mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
|  | 8 |  | $ | 11,746 |  | $ | 64 |  | 53 |  | $ | 46,524 |  | $ | 1,270 |  | 61 |  | $ | 58,270 |  | $ | 1,334
Summary of other investments | Other investments are comprised of the following and are recorded at cost which approximates fair value:
|  | December 31,
(dollars in thousands) |  | 2019 |  | 2018
Federal Home Loan Bank stock |  | $ | 6,386 |  | 3,587
Other investments |  |  | 159 |  | 131
Investment in Trust Preferred subsidiaries |  |  | 403 |  | 403
|  | $ | 6,948 |  | 4,121

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