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