Investment Securities (Tables)

9 Months Ended

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)