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2. Investment Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investment securities available for sale

Investment securities available for sale at December 31, 2019 and 2018 are as follows:

(Dollars in thousands)

		December 31, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Mortgage-backed securities		$	77,812				1,371				227				78,956
U.S. Government sponsored enterprises			28,265				443				311				28,397
State and political subdivisions			84,686				3,657				200				88,143
Trust preferred securities			250				—				—				250
Total		$	191,013				5,471				738				195,746

(Dollars in thousands)

		December 31, 2018
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Mortgage-backed securities		$	52,145				516				558				52,103
U.S. Government
sponsored enterprises			35,356				71				793				34,634
State and political subdivisions			105,545				2,089				43				107,591
Trust preferred securities			250				—				—				250
Total		$	193,296				2,676				1,394				194,578

Current fair value and associated unrealized losses on investments in debt securities with unrealized losses

		December 31, 2019
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage-backed securities		$	28,395				177				6,351				50				34,746				227
U.S. Government
sponsored enterprises			2,899				10				6,151				301				9,050				311
State and political subdivisions			7,367				200				—				—				7,367				200
Total		$	38,661				387				12,502				351				51,163				738

              (Dollars in thousands) 

		December 31, 2018
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage-backed securities		$	6,932				56				17,670				502				24,602				558
U.S. Government
sponsored enterprises			1,784				69				25,172				724				26,956				793
State and political subdivisions			4,815				26				1,578				17				6,393				43
Total		$	13,531				151				44,420				1,243				57,951				1,394

Amortized cost and estimated fair value of investment securities available for sale by contractual maturity

December 31, 2019

(Dollars in thousands)

		Amortized Cost				Estimated Fair Value
Due within one year		$	5,490				5,465
Due from one to five years			56,399				58,315
Due from five to ten years			47,717				49,293
Due after ten years			3,595				3,717
Mortgage-backed securities			77,812				78,956
Total		$	191,013				195,746

Available for sale securities measured at fair value on a recurring basis

(Dollars in thousands)

		December 31, 2019
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	78,956				—				78,956				—
U.S. Government
sponsored enterprises		$	28,397				—				28,397				—
State and political subdivisions		$	88,143				—				88,143				—
Trust preferred securities		$	250				—				—				250

(Dollars in thousands)

		December 31, 2018
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	52,103				—				52,103				—
U.S. Government
sponsored enterprises		$	34,634				—				34,634				—
State and political subdivisions		$	107,591				—				107,591				—
Trust preferred securities		$	250				—				—				250

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)

		Investment Securities Available for Sale
		Level 3 Valuation
Balance, beginning of period		$	250
Change in book value			-
Change in gain/(loss) realized and unrealized			-
Purchases/(sales and calls)			-
Transfers in and/or (out) of Level 3			-
Balance, end of period		$	250
Change in unrealized gain/(loss) for assets still held in Level 3		$	-

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- Definition

Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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-Topic 820
-SubTopic 10
-Section 50
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Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

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-Name Accounting Standards Codification
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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