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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

INVESTMENT SECURITIES

Schedule of amortized cost and estimated fair values of securities available-for-sale

The amortized cost, gross unrealized gains and losses, and estimated fair value of securities classified as available-for-sale at the dates indicated are summarized as follows:


					Gross			Gross
		Amortized			unrealized			unrealized			Estimated
		cost			gains			losses			fair value
December 31, 2020
U.S. Treasuries		$	—		$	—		$	—		$	—
U.S. Government Agencies			5,523			25			(4)			5,544
Municipal securities			15,992			695			—			16,687
Mortgage-backed securities			34,567			2,033			(22)			36,578
Collateralized mortgage obligations			26,649			1,054			(8)			27,695
SBA securities			7,661			52			(46)			7,667
Corporate bonds			21,417			85			(83)			21,419
Total		$	111,809		$	3,944		$	(163)		$	115,590


					Gross			Gross
		Amortized			unrealized			unrealized			Estimated
		cost			gains			losses			fair value
December 31, 2019
U.S. Treasuries		$	999		$	—		$	—		$	999
U.S. Government Agencies			10,033			64			(7)			10,090
Municipal securities			17,888			408			(5)			18,291
Mortgage-backed securities			42,931			860			(48)			43,743
Collateralized mortgage obligations			28,197			476			(68)			28,605
SBA securities			9,550			2			(66)			9,486
Corporate bonds			8,534			141			—			8,675
Total		$	118,132		$	1,951		$	(194)		$	119,889

Schedule of available-for-sale securities, continuous unrealized loss position, fair value

The estimated fair value and gross unrealized losses for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position at the dates indicated are as follows:


		Less than 12 months						12 months or more						Total
		Estimated			Unrealized			Estimated			Unrealized			Estimated			Unrealized
		fair value			loss			fair value			loss			fair value			loss
December 31, 2020
U.S. Treasuries		$	—		$	—		$	—		$	—		$	—		$	—
U.S. Government Agencies			1,511			(4)			—			—			1,511			(4)
Municipal securities			502			—			—			—			502			—
Mortgage-backed securities			2,164			(10)			478			(12)			2,642			(22)
Collateralized mortgage obligations			1,742			(3)			797			(5)			2,539			(8)
SBA securities			562			(1)			3,705			(45)			4,267			(46)
Corporate bonds			10,432			(81)			1,001			(2)			11,433			(83)
Total		$	16,913		$	(99)		$	5,981		$	(64)		$	22,894		$	(163)


		Less than 12 months						12 months or more						Total
		Estimated			Unrealized			Estimated			Unrealized			Estimated			Unrealized
		fair value			loss			fair value			loss			fair value			loss
December 31, 2019
U.S. Treasuries		$	—		$	—		$	—		$	—		$	—		$	—
U.S. Government Agencies			1,497			(1)			1,514			(6)			3,011			(7)
Municipal securities			3,147			(5)			—			—			3,147			(5)
Mortgage-backed securities			7,772			(47)			81			(1)			7,853			(48)
Collateralized mortgage obligations			4,155			(56)			883			(12)			5,038			(68)
SBA securities			6,937			(24)			1,530			(42)			8,467			(66)
Corporate bonds			—			—			—			—			—			—
Total		$	23,508		$	(133)		$	4,008		$	(61)		$	27,516		$	(194)

Schedule of investments classified by contractual maturity date

The amortized cost and estimated fair value of securities available-for-sale at the dates indicated by contractual maturity are shown below. Expected maturities may 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						December 31, 2019
		Amortized			Estimated			Amortized			Estimated
		cost			fair value			cost			fair value
Available-for-sale
Due in one year or less		$	7,273		$	7,342		$	10,737		$	10,781
Due after one through five years			19,424			20,322			24,078			24,560
Due after five years through ten years			34,165			34,898			22,914			23,366
Due after ten years			50,947			53,028			60,403			61,182
Total		$	111,809		$	115,590		$	118,132		$	119,889