XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.21.1

Investments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Schedule of Investments [Abstract] |
Schedule of Available-for-sale Securities | A summary of investment securities available-for-sale is as follows: Schedule of Available-for-sale Securities
|  | As of March 31, 2021 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | gains |  |  | losses |  |  | fair value |
U. S. treasury securities |  | $ | 20,330 |  |  | $ | 30 |  |  | $ | (1 | ) |  | $ | 20,359 |
U. S. federal agency obligations |  |  | 18,748 |  |  |  | 123 |  |  |  | (10 | ) |  |  | 18,861 |
Municipal obligations, tax exempt |  |  | 138,162 |  |  |  | 4,998 |  |  |  | (55 | ) |  |  | 143,105 |
Municipal obligations, taxable |  |  | 39,866 |  |  |  | 1,376 |  |  |  | (104 | ) |  |  | 41,138 |
Agency mortgage-backed securities |  |  | 89,690 |  |  |  | 2,456 |  |  |  | (159 | ) |  |  | 91,987 |
Certificates of deposit |  |  | 5,455 |  |  |  | - |  |  |  | - |  |  |  | 5,455 |
Total available-for-sale |  | $ | 312,251 |  |  | $ | 8,983 |  |  | $ | (329 | ) |  | $ | 320,905 |
|  | As of December 31, 2020 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | gains |  |  | losses |  |  | fair value |
U. S. treasury securities |  | $ | 2,000 |  |  | $ | 37 |  |  | $ | - |  |  | $ | 2,037 |
U. S. federal agency obligations |  |  | 18,804 |  |  |  | 138 |  |  |  | (18 | ) |  |  | 18,924 |
Municipal obligations, tax exempt |  |  | 136,321 |  |  |  | 6,367 |  |  |  | (12 | ) |  |  | 142,676 |
Municipal obligations, taxable |  |  | 46,643 |  |  |  | 2,892 |  |  |  | - |  |  |  | 49,535 |
Agency mortgage-backed securities |  |  | 75,530 |  |  |  | 3,108 |  |  |  | - |  |  |  | 78,638 |
Certificates of deposit |  |  | 5,460 |  |  |  | - |  |  |  | - |  |  |  | 5,460 |
Total available-for-sale |  | $ | 284,758 |  |  | $ | 12,542 |  |  | $ | (30 | ) |  | $ | 297,270 |
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value | The tables above show that some of the securities in the available-for-sale investment portfolio had unrealized losses, or were temporarily impaired, as of March 31, 2021 and December 31, 2020. This temporary impairment represents the estimated amount of loss that would be realized if the securities were sold on the valuation date. Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position. Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value
|  |  |  |  | As of March 31, 2021 |
(Dollars in thousands) |  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
U.S. treasury securities |  |  | 2 |  |  | $ | 5,308 |  |  | $ | (1 | ) |  | $ | - |  |  | $ | - |  |  | $ | 5,308 |  |  | $ | (1 | )
U.S. federal agency obligations |  |  | 3 |  |  |  | 8,712 |  |  |  | (10 | ) |  |  | - |  |  |  | - |  |  |  | 8,712 |  |  |  | (10 | )
Municipal obligations, tax exempt |  |  | 24 |  |  |  | 9,541 |  |  |  | (55 | ) |  |  | - |  |  |  | - |  |  |  | 9,541 |  |  |  | (55 | )
Municipal obligations, taxable |  |  | 8 |  |  |  | 5,345 |  |  |  | (104 | ) |  |  | - |  |  |  | - |  |  |  | 5,345 |  |  |  | (104 | )
Agency mortgage-backed securities |  |  | 7 |  |  |  | 21,085 |  |  |  | (159 | ) |  |  | - |  |  |  | - |  |  |  | 21,085 |  |  |  | (159 | )
Total |  |  | 44 |  |  | $ | 49,991 |  |  | $ | (329 | ) |  | $ | - |  |  | $ | - |  |  | $ | 49,991 |  |  | $ | (329 | )
|  |  |  |  | As of December 31, 2020 |
(Dollars in thousands) |  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
U.S. federal agency obligations |  |  | 4 |  |  | $ | 11,772 |  |  | $ | (18 | ) |  | $ | - |  |  | $ | - |  |  | $ | 11,772 |  |  | $ | (18 | )
Municipal obligations, tax exempt |  |  | 12 |  |  |  | 4,191 |  |  |  | (12 | ) |  |  | - |  |  |  | - |  |  |  | 4,191 |  |  |  | (12 | )
Total |  |  | 16 |  |  | $ | 15,963 |  |  | $ | (30 | ) |  | $ | - |  |  | $ | - |  |  | $ | 15,963 |  |  | $ | (30 | )
Schedule of Investments Classified by Contractual Maturity Date | The table below sets forth amortized cost and fair value of investment securities at March 31, 2021. The table includes scheduled principal payments and estimated prepayments, based on observable market inputs, for agency mortgage-backed securities. Actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. Schedule of Investments Classified by Contractual Maturity Date
(Dollars in thousands) |  | Amortized |  |  | Estimated |
|  | cost |  |  | fair value |
Due in less than one year |  | $ | 28,023 |  |  | $ | 28,100 |
Due after one year but within five years |  |  | 167,223 |  |  |  | 170,860 |
Due after five years but within ten years |  |  | 58,457 |  |  |  | 60,891 |
Due after ten years |  |  | 58,548 |  |  |  | 61,054 |
Total |  | $ | 312,251 |  |  | $ | 320,905 |
Schedule of Realized Gain (loss) | Sales proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the periods indicated: Schedule of Realized Gain (loss)
|  | 2021 |  |  | 2020 |
(Dollars in thousands) |  | Three months ended March 31, |
|  | 2021 |  |  | 2020 |
Sales proceeds |  | $ | 13,346 |  |  | $ | 44,508 |
Realized gains |  | $ | 1,075 |  |  | $ | 1,772 |
Realized losses |  |  | 0 |  |  |  | (2 | )
Net realized gains |  | $ | 1,075 |  |  | $ | 1,770 |

X
- 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. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ScheduleOfInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration