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Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of Comparison of Amortized Cost and Fair Value of Securities Available for Sale | Following is a comparison of the amortized cost and fair value of securities available-for-sale, as of September 30, 2021 and December 31, 2020:
(in 000's) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value (Carrying Amount)
September 30, 2021 |  |  |
Securities available-for-sale: |  |  |
U.S. Government agencies | $ | 35,830 |  |  | $ | 289 |  |  | $ | (81) |  |  | $ | 36,038 |
U.S. Government sponsored entities & agencies collateralized by mortgage obligations | 64,720 |  |  | 454 |  |  | (142) |  |  | 65,032 |
Asset-backed securities | 4,674 |  |  | 22 |  |  | — |  |  | 4,696 |
Municipal bonds | 50,921 |  |  | 217 |  |  | (681) |  |  | 50,457 |
Corporate bonds | 5,000 |  |  | 509 |  |  | — |  |  | 5,509 |
Total securities available-for-sale | $ | 161,145 |  |  | $ | 1,491 |  |  | $ | (904) |  |  | $ | 161,732 |
(in 000's) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value (Carrying Amount)
December 31, 2020 |  |  |
Securities available-for-sale: |  |  |
U.S. Government agencies | $ | 33,800 |  |  | $ | 142 |  |  | $ | (232) |  |  | $ | 33,710 |
U.S. Government sponsored entities & agencies collateralized by mortgage obligations | 37,732 |  |  | 722 |  |  | (9) |  |  | 38,445 |
Asset-backed securities | 3,871 |  |  | 38 |  |  | — |  |  | 3,909 |
Municipal bonds | 1,045 |  |  | 13 |  |  | — |  |  | 1,058 |
Corporate bonds | 5,000 |  |  | 219 |  |  | — |  |  | 5,219 |
Total securities available-for-sale | $ | 81,448 |  |  | $ | 1,134 |  |  | $ | (241) |  |  | $ | 82,341 |
Schedule of Contractual Maturities on Collateralized Mortgage Obligation | The amortized cost and fair value of securities available for sale at September 30, 2021, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay obligations with or without call or prepayment penalties. Contractual maturities on collateralized mortgage obligations cannot be anticipated due to allowed pay downs.
| September 30, 2021
| Amortized Cost |  | Fair Value (Carrying Amount)
(in 000's) |
Due in one year or less | $ | 996 |  |  | $ | 996 |
Due after one year through five years | 549 |  |  | 548 |
Due after five years through ten years | 44,887 |  |  | 44,960 |
Due after ten years | 49,993 |  |  | 50,196 |
Collateralized mortgage obligations | 64,720 |  |  | 65,032 |
| $ | 161,145 |  |  | $ | 161,732 |
Schedule of Temporarily Impaired Investment Securities | The following summarizes temporarily impaired investment securities:
(in 000's) | Less than 12 Months |  | 12 Months or More |  | Total
September 30, 2021 | Fair Value (Carrying Amount) |  | Unrealized Losses |  | Fair Value (Carrying Amount) |  | Unrealized Losses |  | Fair Value (Carrying Amount) |  | Unrealized Losses
Securities available for sale: |  |  |  |  |
U.S. Government agencies | $ | — |  |  | $ | — |  |  | $ | 10,900 |  |  | $ | (81) |  |  | $ | 10,900 |  |  | $ | (81) |
U.S. Government sponsored entities & agencies collateralized by mortgage obligations | 21,602 |  |  | (142) |  |  | 23 |  |  | — |  |  | 21,625 |  |  | (142) |
Corporate bonds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal bonds | 32,881 |  |  | (681) |  |  | — |  |  | — |  |  | 32,881 |  |  | (681) |
Asset-backed securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total impaired securities | $ | 54,483 |  |  | $ | (823) |  |  | $ | 10,923 |  |  | $ | (81) |  |  | $ | 65,406 |  |  | $ | (904) |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies | $ | 9,013 |  |  | $ | (73) |  |  | $ | 16,963 |  |  | $ | (159) |  |  | $ | 25,976 |  |  | $ | (232) |
U.S. Government sponsored entities & agencies collateralized by mortgage obligations | 30 |  |  | (1) |  |  | 1,684 |  |  | (8) |  |  | 1,714 |  |  | (9) |
Corporate bonds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal bonds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Asset-backed securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total impaired securities | $ | 9,043 |  |  | $ | (74) |  |  | $ | 18,647 |  |  | $ | (167) |  |  | $ | 27,690 |  |  | $ | (241) |

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