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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020
U.S. Treasury		$	2,772		$	26		$	—		$	2,798
U.S. government and federal agency obligations			11,732			197			—			11,929
U.S. government-sponsored enterprises			22,495			379			—			22,874
Obligations of states and political subdivisions			56,943			1,801			—			58,744
Mortgage-backed securities			88,357			1,809			(54)			90,112
Other debt securities (a)			10,000			358			(14)			10,344
Bank issued trust preferred securities (a)			1,486			—			(257)			1,229
Total available-for-sale securities		$	193,785		$	4,570		$	(325)		$	198,030

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

(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		$	3,323		$	3,340
Due after one year through five years			21,829			22,071
Due after five years through ten years			38,404			39,570
Due after ten years			41,872			42,937
Total			105,428			107,918
Mortgage-backed securities			88,357			90,112
Total available-for-sale securities		$	193,785		$	198,030

Schedule of Other securities


(in thousands)		2020			2019
Other securities:
FHLB stock		$	6,170		$	5,644
MIB stock			151			151
Equity securities with readily determinable fair values			32			13
Total other investment securities		$	6,353		$	5,808

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, 2020
U.S. Treasury		$	1,015		$	—		$	—		$	—		$	1,015		$	—
Mortgage-backed securities			7,494			(54)			—			—			7,494			(54)
Other debt securities			2,987			(14)			—			—			2,987			(14)
Bank issued trust preferred securities			—			—			1,229			(257)			1,229			(257)
Total		$	11,496		$	(68)		$	1,229		$	(257)		$	12,725		$	(325)

(in thousands)
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)

Schedule of components of investment securities gains and losses


(in thousands)		2020			2019			2018
Investment securities gains (losses), net
Available for sale securities:
Gains realized on sales		$	49		$	6		$	253
Losses realized on sales			(8)			(46)			—
Other-than-temporary impairment recognized			—			—			—
Other investment securities:
Fair value adjustments, net			20			—			2
Investment securities gains (losses), net		$	61		$	(40)		$	255