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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2021

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
September 30, 2021
U.S. Treasury		$	3,012		$	17		$	—		$	3,029
U.S. government and federal agency obligations			1,316			17			—			1,333
U.S. government-sponsored enterprises			17,497			177			(108)			17,566
Obligations of states and political subdivisions			119,220			1,073			(1,382)			118,911
Mortgage-backed securities			125,126			1,221			(1,334)			125,013
Other debt securities (a)			10,825			570			—			11,395
Bank issued trust preferred securities (a)			1,486			—			(205)			1,281
Total available-for-sale securities		$	278,482		$	3,075		$	(3,029)		$	278,528

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

(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		$	4,776		$	4,798
Due after one year through five years			12,576			12,734
Due after five years through ten years			34,073			34,890
Due after ten years			101,931			101,093
Total			153,356			153,515
Mortgage-backed securities			125,126			125,013
Total available-for-sale securities		$	278,482		$	278,528

Schedule of Other securities


		September 30,			December 31,
(in thousands)		2021			2020
Other securities:
FHLB stock		$	5,812		$	6,170
MIB stock			151			151
Equity securities with readily determinable fair values			52			32
Total other investment securities		$	6,015		$	6,353

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 September 30, 2021
U.S. Treasury		$	508		$	—		$	—		$	—		$	508		$	—
U.S. government-sponsored enterprises			4,892			(108)			—			—			4,892			(108)
Obligations of states and political subdivisions			62,391			(1,382)			—			—			62,391			(1,382)
Mortgage-backed securities			70,027			(1,324)			1,667			(10)			71,694			(1,334)
Bank issued trust preferred securities			—			—			1,281			(205)			1,281			(205)
Total		$	137,818		$	(2,814)		$	2,948		$	(215)		$	140,766		$	(3,029)

(in thousands)
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)

* Amounts less than $1,000 are not reported

Schedule of components of investment securities gains and losses


		Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)		2021			2020			2021			2020
Investment securities gains, net
Available-for-sale securities:
Gross realized gains		$	119		$	21		$	121		$	27
Gross realized losses			—			(8)			—			(8)
Other-than-temporary impairment recognized			—			—			—			—
Other investment securities:
Fair value adjustments, net			7			(1)			19			(1)
Investment securities gains, net		$	126		$	12		$	140		$	18