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Investment Securities | 9 Months Ended
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Sep. 30, 2020
Investment Securities [Abstract] |
Investment Securities | (5) Investment Securities The following summarizes the amortized cost of investment securities classified as available-for-sale and their approximate fair values at September 30, 2020 and December 31, 2019:
| Amortized |  | Gross |  | Gross |  |
| Cost |  | Unrealized |  | Unrealized |  | Fair
(In thousands) | Basis |  | Gains |  | Losses |  | Value
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |
State and municipal securities | $ | 10,225 |  | $ | 605 |  | $ | — |  | $ | 10,830
Asset-backed securities |  | 4,704 |  |  | 321 |  |  | — |  |  | 5,025
Government mortgage-backed securities |  | 18,086 |  |  | 491 |  |  | 11 |  |  | 18,566
Total debt securities available-for-sale | $ | 33,015 |  | $ | 1,417 |  | $ | 11 |  | $ | 34,421
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
State and municipal securities | $ | 10,808 |  | $ | 398 |  | $ | — |  | $ | 11,206
Asset-backed securities |  | 5,433 |  |  | 71 |  |  | 4 |  |  | 5,500
Government mortgage-backed securities |  | 24,954 |  |  | 197 |  |  | 67 |  |  | 25,084
Total debt securities available-for-sale | $ | 41,195 |  | $ | 666 |  | $ | 71 |  | $ | 41,790
The scheduled maturities of debt securities at September 30, 2020 are summarized in the table below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary.
| Available-for-Sale
| Amortized |  | Fair
(In thousands) | Cost |  | Value
Due after one year through five years | $ | 921 |  | $ | 947
Due after five years through ten years |  | 912 |  |  | 918
Due after ten years |  | 8,392 |  |  | 8,965
Government mortgage-backed securities |  | 18,086 |  |  | 18,566
Asset-backed securities |  | 4,704 |  |  | 5,025
| $ | 33,015 |  | $ | 34,421
There were no realized gains or losses on sales and calls during the nine months ended September 30, 2020. During the nine months ended September 30, 2019, gross realized gains on sales and calls were $216,000, and gross realized losses were $103,000. Securities with carrying amounts of $23.6 million and $30.6 million were pledged to secure available borrowings with the Federal Reserve Bank and Federal Home Loan Bank at September 30, 2020 and December 31, 2019, respectively. Other-than-temporary impairment assessment: Management assesses whether the decline in fair value of investment securities is other-than-temporary on a regular basis. Unrealized losses on debt securities may occur from current market conditions, increases in interest rates since the time of purchase, a structural change in an investment, volatility of earnings of a specific issuer, or deterioration in credit quality of the issuer. Management evaluates impairments in value both qualitatively and quantitatively to assess whether they are other-than-temporary. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or longer are as follows at September 30, 2020 and December 31, 2019:
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(In thousands) | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporarily impaired securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government mortgage-backed securities | $ | — |  | $ | — |  | $ | 867 |  | $ | 11 |  | $ | 867 |  | $ | 11
Total temporarily impaired debt securities | $ | — |  | $ | — |  | $ | 867 |  | $ | 11 |  | $ | 867 |  | $ | 11
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporarily impaired securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | $ | 606 |  | $ | 4 |  | $ | — |  | $ | — |  | $ | 606 |  | $ | 4
Government mortgage-backed securities |  | 5,207 |  |  | 8 |  |  | 5,418 |  |  | 59 |  |  | 10,625 |  |  | 67
Total temporarily impaired debt securities | $ | 5,813 |  | $ | 12 |  | $ | 5,418 |  | $ | 59 |  | $ | 11,231 |  | $ | 71
Government mortgage-backed securities: The gross unrealized losses on government mortgage-backed securities were primarily attributable to relative changes in interest rates since the time of purchase. Management believes that the unrealized losses on these debt security holdings are a function of changes in investment spreads and interest rate movements and not changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. Furthermore, the Company does not intend to sell these securities and it is not more-likely-than-not that the Company will be required to sell these securities before recovery of their cost basis, which may be maturity. Therefore, management does not consider these investments to be other-than-temporarily impaired at September 30, 2020.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
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