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Securities | 6 Months Ended
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Jun. 30, 2021
Securities [Abstract] |
Securities | NOTE 3 – SECURITIES The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at June 30, 2021 and December 31, 2020 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income (loss):
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
June 30, 2021 (unaudited) |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | $ | 9,975 |  | $ | - |  | $ | - |  | $ | 9,975
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  |  | 7,577 |  |  | 71 |  |  | 10 |  |  | 7,638
Mortgage-backed securities - residential |  |  | 46 |  |  | 2 |  |  | - |  |  | 48
Total |  | $ | 17,598 |  | $ | 73 |  | $ | 10 |  | $ | 17,661
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 8,517 |  | $ | 119 |  | $ | - |  | $ | 8,636
Mortgage-backed securities - residential |  |  | 62 |  |  | 3 |  |  | - |  |  | 65
Total |  | $ | 8,579 |  | $ | 122 |  | $ | - |  | $ | 8,701
There was no other-than-temporary impairment recognized in accumulated other comprehensive income (loss) for securities available for sale at June 30, 2021 or June 30, 2020. There were no sales of securities during the six months ended June 30, 2021 and 2020. The amortized cost and fair value of debt securities at June 30, 2021 and December 31, 2020 are shown in the table below by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
|  | June 30, 2021 |  |  | December 31, 2020
|  | (unaudited) |  |  |  |  |  |
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 3,516 |  | $ | 3,539 |  | $ | 5,011 |  | $ | 5,033
Due from one to five years |  |  | 4,061 |  |  | 4,099 |  |  | 3,506 |  |  | 3,603
Due from five to ten years |  |  | 9,975 |  |  | 9,975 |  |  | - |  |  | -
Mortgage-backed securities - residential |  |  | 46 |  |  | 48 |  |  | 62 |  |  | 65
Total |  | $ | 17,598 |  | $ | 17,661 |  | $ | 8,579 |  | $ | 8,701
Fair value of securities pledged as collateral was as follows:
| June 30, 2021 |  | December 31, 2020
| (unaudited) |  |  |
Pledged as collateral for: |  |  |  |  |
FHLB advances | $ | 1,531 |  | $ | 1,017
Public deposits |  | 3,055 |  |  | 3,060
Mortgage banking derivatives |  | 1,523 |  |  | 3,016
Total | $ | 6,109 |  | $ | 7,093
At June 30, 2021 and December 31, 2020, there were no holdings of securities of any one issuer in an amount greater than 10% of stockholders’ equity. The following table summarizes securities with unrealized losses at June 30, 2021, aggregated by major security type and length of time in a continuous unrealized loss position.
June 30, 2021 (unaudited) |  | Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Issued by U.S. government-sponsored entities and agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 3,063 |  |  | 10 |  | $ | - |  | $ | - |  | $ | 3,063 |  | $ | 10
Total temporarily impaired |  | $ | 3,063 |  | $ | 10 |  | $ | - |  | $ | - |  | $ | 3,063 |  | $ | 10
The unrealized losses in U.S. Treasuries at June 30, 2021 were related to multiple securities. Because the decline in fair value was attributable to changes in market conditions, and not credit quality, and because the Company did not have the intent to sell these securities and it was likely that it would not be required to sell these securities before their anticipated recovery, the Company did not consider these securities to be other-than-temporarily impaired at June 30, 2021. There were no unrealized losses at December 31, 2020. ‎

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