XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Securities | 9 Months Ended
--- | ---
Sep. 30, 2021
Securities [Abstract] |
Securities | Note 6 – Securities The following tables summarize the Bank’s holdings for both securities held-to-maturity and securities available-for-sale as of September 30, 2021 and December 31, 2020 (amounts in thousands): September 30, 2021 Amortized Gross Unrealized Costs Gains (Losses) Fair ValueHeld-to-Maturity US agency obligations$ 3,659 $ 369 $ — $ 4,028 Available-for-Sale US Treasuries 2,000 9 — 2,009US agency obligations 58,242 793 (1,006) 58,029Mortgage-backed securities 34,659 120 (333) 34,446Municipals 46,229 399 (672) 45,956 Corporates 11,657 233 (32) 11,858 $ 152,787 $ 1,554 $ (2,043) $ 152,298 December 31, 2020 Amortized Gross Unrealized Costs Gains (Losses) Fair ValueHeld-to-Maturity US agency obligations$ 3,671 $ 521 $ — $ 4,192 Available-for-Sale US Treasuries 2,000 27 — 2,027US agency obligations 40,111 1,544 (335) 41,320Mortgage-backed securities 15,461 241 (6) 15,696Municipals 24,275 594 (96) 24,773Corporates 6,070 299 — 6,369 $ 87,917 $ 2,705 $ (437) $ 90,185 ‎ Note 6 – Securities (continued) The following tables show the gross unrealized losses and fair value of the Bank’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2021 and December 31, 2020 (amounts in thousands): Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair UnrealizedSeptember 30, 2021Value Losses Value Losses Value LossesDescription of securities Held-to-maturity US agency obligations$ — $ — $ — $ — $ — $ — Available-for-sale US Treasuries — — — — — — US agency obligations 29,945 675 6,467 331 36,412 1,006 Mortgage-backed securities 30,340 333 — — 30,340 333 Municipals 30,338 548 3,436 124 33,774 672 Corporates 1,968 32 — — 1,968 32Total $ 92,591 $ 1,588 $ 9,903 $ 455 $ 102,494 $ 2,043 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair UnrealizedDecember 31, 2020Value Losses Value Losses Value LossesDescription of securities Held-to-maturity US agency obligations$ — $ — $ — $ — $ — $ — Available-for-sale US Treasuries — — — — — — US agency obligations 15,808 335 — — 15,808 335 Mortgage-backed securities 8,201 6 — — 8,201 6 Municipals 8,202 96 — — 8,202 96 Corporates — — — — — —Total $ 32,211 $ 437 $ — $ — $ 32,211 $ 437 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and may do so more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) the intent of Financial, if any, to sell the security; (4) whether Financial more likely than not will be ‎ Note 6 – Securities (continued) required to sell the security before recovering its cost; and (5) whether Financial does not expect to recover the security’s entire amortized cost basis (even if Financial does not intend to sell the security). At September 30, 2021, the Company did not consider the unrealized losses as other-than-temporary losses due to the nature of the securities involved. As of September 30, 2021, the Bank owned 59 securities in an unrealized loss position that were being evaluated for other than temporary impairment. Of the securities, 23 were S&P rated AAA, 33 were rated AA, and three were rated A. As of September 30, 2021, 34 of these securities were municipal issues, 22 were backed by the US government, and three were issues of publicly traded domestic corporations. Based on the analysis performed by management as mandated by the Bank’s investment policy, management believes the default risk to be minimal. Because management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to change in interest rates and other market conditions, no declines currently are deemed to be other-than-temporary. There were no sales of available-for-sale securities during the nine months ended September 30, 2021 as compared to $13,312 in sales during the same period in 2020. In 2020, there were gross gains on sales of available-for-sale securities of $644 during the nine month period ended September 30, 2020. There were no sales of held-to-maturity securities during the nine month periods ended September 30, 2021 and 2020.

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

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration