XML 30 R19.htm IDEA: XBRL DOCUMENT v3.21.2

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2021

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:

		September 30, 2021
		Amortized				Gross Unrealized								Fair
(dollars in thousands)		Cost				Gains				Losses				Value
Available for sale
US treasuries		$	999				1				-				1,000
US government agencies			14,503				2				228				14,277
SBA securities			435				10				-				445
State and political subdivisions			22,418				515				226				22,707
Asset-backed securities			10,526				56				13				10,569
Mortgage-backed securities
FHLMC			20,678				141				386				20,433
FNMA			39,479				325				452				39,352
GNMA			5,078				11				70				5,019
Total mortgage-backed securities			65,235				477				908				64,804
Total investment securities available for sale		$	114,116				1,061				1,375				113,802

		December 31, 2020
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
Available for sale
US government agencies		$	6,500				1				8				6,493
SBA securities			504				-				19				485
State and political subdivisions			18,614				804				30				19,388
Asset-backed securities			11,587				15				73				11,529
Mortgage-backed securities
FHLMC			12,157				206				47				12,316
FNMA			35,893				507				91				36,309
GNMA			8,179				53				23				8,209
Total mortgage-backed securities			56,229				766				161				56,834
Total		$	93,434				1,586				291				94,729

Schedule of Fair Values Investment Securities Available for Contractual Maturities

Contractual maturities and yields on the Company’s investment securities at September 30, 2021 and December 31, 2020 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.

10

		September 30, 2021
		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 treasuries		$	-			-			-			-			1,000			1.27	%		-			-			1,000			1.27	%
US government agencies			-			-			2,498			0.36	%		8,847			1.31	%		2,932			1.79	%		14,277			1.24	%
SBA securities			-			-			-			-			-			-			445			1.00	%		445			1.00	%
State and political subdivisions			-			-			471			2.13	%		3,476			1.60	%		18,760			2.17	%		22,707			2.08	%
Asset-backed securities			-			-			-			-			1,710			1.52	%		8,859			0.95	%		10,569			1.04	%
Mortgage-backed securities			-			-			1,321			1.85	%		10,065			1.46	%		53,418			1.37	%		64,804			1.40	%
Total		$	-			-			4,290			1.01	%		25,098			1.42	%		84,414			1.52	%		113,802			1.48	%

		December 31, 2020
		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		$	-			-			2,501			0.37	%		2,995			1.07	%		997			1.48	%		6,493			0.86	%
SBA securities			-			-			-			-			-			-			485			0.98	%		485			0.98	%
State and political subdivisions			-			-			470			2.13	%		3,053			1.98	%		15,865			2.23	%		19,388			2.18	%
Asset-backed securities			-			-			-			-			1,983			1.17	%		9,546			1.00	%		11,529			1.03	%
Mortgage-backed securities			-			-			2,044			1.77	%		9,544			1.74	%		45,246			1.36	%		56,834			1.44	%
Total		$	-			-			5,015			1.10	%		17,575			1.60	%		72,139			1.50	%		94,729			1.50	%

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 September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

		September 30, 2021
		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			9		$	11,846		$	157			2		$	1,929		$	71			11		$	13,775		$	228
State and political subdivisions			9			7,280			168			5			2,565			58			14			9,845			226
Asset-backed securities			-			-			-			2			1,794			13			2			1,794			13
Mortgage-backed securities			25			34,823			664			9			11,296			244			34			46,119			908
Total			43		$	53,949		$	989			18		$	17,584		$	386			61		$	71,533		$	1,375

			December 31, 2020
			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			3		$	2,992		$	8			-		$	-		$	-			3		$	2,992		$	8
SBA securities			-			-			-			1			484			19			1			484			19
State and political subdivisions			8			4,861			30			-			-			-			8			4,861			30
Asset-backed securities			-			-			-			6			6,998			73			6			6,998			73
Mortgage-backed securities			15			20,810			136			3			1,984			25			18			22,794			161
Total			26		$	28,663		$	174			10		$	9,466		$	117			36		$	38,129		$	291

Schedule of Other Investments

Other investments are comprised of the following and are recorded at cost which approximates fair value.

(dollars in thousands)		September 30, 2021				December 31, 2020
Federal Home Loan Bank stock		$	1,241				3,103
Other investments			1,176				129
Investment in Trust Preferred securities			403				403
Total other investments		$	2,820				3,635

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of other investments not readily marketable, including, but not limited to, description of investment, fair value and value as measured by quoted price.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 820
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35710923&loc=d3e45360-110995

+ Details

Name:	us-gaap_ScheduleOfOtherInvestmentsNotReadilyMarketableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration