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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]  
Schedule of Investment Securities Available-for-Sale

Investment securities available-for-sale at September 30, 2021 and December 31, 2020 are as follows: (in thousands)

 

 

 

Amortized

 

 

Gross
Unrealized

 

 

Gross
Unrealized

 

 

Estimated

 

September 30, 2021

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

4,074

 

 

$

13

 

 

$

(4

)

 

$

4,083

 

Municipal securities - tax exempt

 

 

541

 

 

 

—

 

 

 

(8

)

 

 

533

 

Municipal securities - taxable

 

 

797

 

 

 

—

 

 

 

(8

)

 

 

789

 

U. S. Government sponsored enterprises

 

 

11,837

 

 

 

2

 

 

 

(133

)

 

 

11,706

 

Government agency mortgage-backed securities

 

 

20,258

 

 

 

263

 

 

 

(186

)

 

 

20,335

 

Corporate securities

 

 

6,717

 

 

 

16

 

 

 

(108

)

 

 

6,625

 

Total

 

$

44,224

 

 

$

294

 

 

$

(447

)

 

$

44,071

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

U. S. Government sponsored enterprises

 

$

11,870

 

 

$

1

 

 

$

(12

)

 

$

11,859

 

Government agency mortgage-backed securities

 

 

9,206

 

 

 

326

 

 

 

—

 

 

 

9,532

 

Corporate securities

 

 

2,715

 

 

 

—

 

 

 

(101

)

 

 

2,614

 

Total

 

$

23,791

 

 

$

327

 

 

$

(113

)

 

$

24,005

 
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available-for-Sale by Contractual Maturity

The amortized cost and estimated fair value of investment securities available-for-sale at September 30, 2021, by contractual maturity, are shown below. Maturities of mortgage-backed securities will differ from contractual maturities because borrowers

may have the right to call or prepay certain obligations with or without call or prepayment penalties. Therefore, these securities are not included in the maturity categories. (in thousands)

 

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

U.S. Treasury securities

 

 

 

 

 

 

Within 1 year

 

$

—

 

 

$

—

 

Greater than 1 to 5 years

 

 

—

 

 

 

—

 

Greater than 5 to 10 years

 

 

4,074

 

 

 

4,083

 

Greater than 10 years

 

 

—

 

 

 

—

 

Municipal securities - tax exempt

 

 

 

 

 

 

Within 1 year

 

 

—

 

 

 

—

 

Greater than 1 to 5 years

 

 

—

 

 

 

—

 

Greater than 5 to 10 years

 

 

—

 

 

 

—

 

Greater than 10 years

 

 

541

 

 

 

533

 

Municipal securities - taxable

 

 

 

 

 

 

Within 1 year

 

 

—

 

 

 

—

 

Greater than 1 to 5 years

 

 

—

 

 

 

—

 

Greater than 5 to 10 years

 

 

—

 

 

 

—

 

Greater than 10 years

 

 

797

 

 

 

789

 

Government agency securities

 

 

 

 

 

 

Within 1 year

 

 

—

 

 

 

—

 

Greater than 1 to 5 years

 

 

—

 

 

 

—

 

Greater than 5 to 10 years

 

 

—

 

 

 

—

 

Greater than 10 years

 

 

11,837

 

 

 

11,706

 

Corporate securities

 

 

 

 

 

 

Within 1 year

 

 

—

 

 

 

—

 

Greater than 1 to 5 years

 

 

—

 

 

 

—

 

Greater than 5 to 10 years

 

 

6,217

 

 

 

6,200

 

Greater than 10 years

 

 

500

 

 

 

425

 

 

 

 

23,966

 

 

 

23,736

 

Government agency mortgage-backed securities

 

 

20,258

 

 

 

20,335

 

Total

 

$

44,224

 

 

$

44,071