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v3.20.1

Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2019
Investment Securities |
Schedule of amortized cost and fair value of debt securities available-for-sale |
|  | Total |  |  |  |  |  |  |  |  |
|  | Amortized |  | Gross Unrealized |  | Fair
(in thousands) |  | Cost |  | Gains |  | Losses |  | Value
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 987 |  | $ | 8 |  | $ | — |  | $ | 995
U.S. government and federal agency obligations |  |  | 8,124 |  |  | — |  |  | (77) |  |  | 8,047
U.S. government-sponsored enterprises |  |  | 22,300 |  |  | 41 |  |  | (58) |  |  | 22,283
Obligations of states and political subdivisions |  |  | 33,704 |  |  | 144 |  |  | (59) |  |  | 33,789
Mortgage-backed securities |  |  | 105,522 |  |  | 522 |  |  | (428) |  |  | 105,616
Other debt securities (a) |  |  | 3,000 |  |  | 53 |  |  | — |  |  | 3,053
Bank issued trust preferred securities (a) |  |  | 1,486 |  |  | — |  |  | (176) |  |  | 1,310
Total available-for-sale securities |  | $ | 175,123 |  | $ | 768 |  | $ | (798) |  | $ | 175,093
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 1,984 |  | $ | — |  | $ | (32) |  | $ | 1,952
U.S. government and federal agency obligations |  |  | 10,235 |  |  | — |  |  | (269) |  |  | 9,966
U.S. government-sponsored enterprises |  |  | 43,784 |  |  | 23 |  |  | (472) |  |  | 43,335
Obligations of states and political subdivisions |  |  | 40,859 |  |  | 28 |  |  | (501) |  |  | 40,386
Mortgage-backed securities |  |  | 121,230 |  |  | 72 |  |  | (3,110) |  |  | 118,192
Other debt securities (a) |  |  | 3,000 |  |  | — |  |  | — |  |  | 3,000
Bank issued trust preferred securities (a) |  |  | 1,486 |  |  | — |  |  | (112) |  |  | 1,374
Total available-for-sale securities |  | $ | 222,578 |  | $ | 123 |  | $ | (4,496) |  | $ | 218,205
(a) Certain hybrid instruments possessing characteristics typically associated with debt obligations.
Schedule of amortized cost and fair value of debt securities classified as available-for-sale by contractual maturity |
|  | Amortized |  | Fair
(in thousands) |  | Cost |  | Value
Due in one year or less |  | $ | 12,023 |  | $ | 12,023
Due after one year through five years |  |  | 27,002 |  |  | 27,043
Due after five years through ten years |  |  | 20,448 |  |  | 20,445
Due after ten years |  |  | 10,128 |  |  | 9,966
Total |  |  | 69,601 |  |  | 69,477
Mortgage-backed securities |  |  | 105,522 |  |  | 105,616
Total available-for-sale securities |  | $ | 175,123 |  | $ | 175,093
Schedule of Other securities |
(in thousands) |  | 2019 |  | 2018 |
Other securities: |  |  |  |  |  |  |
FHLB stock |  | $ | 5,644 |  | $ | 5,512 |
MIB stock |  |  | 151 |  |  | 151 |
Equity securities with readily determinable fair values |  |  | 13 |  |  | 12 |
Total other investment securities |  | $ | 5,808 |  | $ | 5,675 |
Schedule of gross unrealized losses on debt securities and fair value of related securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position |
|  | Less than 12 months |  | 12 months or more |  | Total |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(in thousands) |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
At December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and federal agency obligations |  | $ | 6,238 |  | $ | (69) |  | $ | 1,809 |  | $ | (8) |  | $ | 8,047 | $ |  | (77)
U.S. government-sponsored enterprises |  |  | 5,949 |  |  | (47) |  |  | 7,488 |  |  | (11) |  |  | 13,437 |  |  | (58)
Obligations of states and political subdivisions |  |  | 10,729 |  |  | (53) |  |  | 1,931 |  |  | (6) |  |  | 12,660 |  |  | (59)
Mortgage-backed securities |  |  | 5,444 |  |  | (37) |  |  | 40,120 |  |  | (391) |  |  | 45,564 |  |  | (428)
Bank issued trust preferred securities |  |  | — |  |  | — |  |  | 1,310 |  |  | (176) |  |  | 1,310 |  |  | (176)
Total |  | $ | 28,360 |  | $ | (206) |  | $ | 52,658 |  | $ | (592) |  | $ | 81,018 |  | $ | (798)
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | — |  | $ | — |  | $ | 1,952 |  | $ | (32) |  | $ | 1,952 |  | $ | (32)
U.S. government and federal agency obligations |  |  | — |  |  | — |  |  | 9,966 |  |  | (269) |  |  | 9,966 |  |  | (269)
U.S. government-sponsored enterprises |  |  | 1,997 |  |  | (3) |  |  | 33,346 |  |  | (469) |  |  | 35,343 |  |  | (472)
Obligations of states and political subdivisions |  |  | 5,851 |  |  | (16) |  |  | 28,832 |  |  | (485) |  |  | 34,683 |  |  | (501)
Mortgage-backed securities |  |  | 10,085 |  |  | (61) |  |  | 99,321 |  |  | (3,049) |  |  | 109,406 |  |  | (3,110)
Bank issued trust preferred securities |  |  | — |  |  | — |  |  | 1,374 |  |  | (112) |  |  | 1,374 |  |  | (112)
Total |  | $ | 17,933 |  | $ | (80) |  | $ | 174,791 |  | $ | (4,416) |  | $ | 192,724 |  | $ | (4,496)
Schedule of components of investment securities gains and losses |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Investment securities (losses) gains, net |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |
Gains realized on sales |  | $ | 6 |  | $ | 253 |  | $ | 38
Losses realized on sales |  |  | (46) |  |  | — |  |  | (33)
Other-than-temporary impairment recognized |  |  | — |  |  | — |  |  | —
Other investment securities: |  |  |  |  |  |  |  |  |
Fair value adjustments, net |  |  | — |  |  | 2 |  |  | —
Investment securities (losses) gains, net |  | $ | (40) |  | $ | 255 |  | $ | 5

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