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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]  
Schedule of Investment Securities Available-for-Sale and Held-to-Maturity

Details of investment securities available-for-sale and held-to-maturity as of December 31, 2019 and 2018 were as follows:

 

 

 

Available-for-Sale

 

 

 

December 31, 2019

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair

Value

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

46,182

 

 

$

372

 

 

$

(209

)

 

$

46,345

 

Commercial

 

 

43,686

 

 

 

73

 

 

 

(386

)

 

 

43,373

 

Obligations of states and political subdivisions

 

 

4,123

 

 

 

95

 

 

 

 

 

 

4,218

 

U.S. Treasury securities

 

 

80

 

 

 

 

 

 

 

 

 

80

 

Total

 

$

94,071

 

 

$

540

 

 

$

(595

)

 

$

94,016

 

 

 

 

Held-to-Maturity

 

 

 

December 31, 2019

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair

Value

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

8,923

 

 

$

2

 

 

$

(46

)

 

$

8,879

 

Obligations of U.S. government-sponsored agencies

 

 

4,324

 

 

 

5

 

 

 

(10

)

 

 

4,319

 

Obligations of states and political subdivisions

 

 

1,093

 

 

 

15

 

 

 

 

 

 

1,108

 

Total

 

$

14,340

 

 

$

22

 

 

$

(56

)

 

$

14,306

 

 

 

 

Available-for-Sale

 

 

 

December 31, 2018

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair

Value

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

73,859

 

 

$

113

 

 

$

(1,517

)

 

$

72,455

 

Commercial

 

 

56,101

 

 

 

10

 

 

 

(1,822

)

 

 

54,289

 

Obligations of states and political subdivisions

 

 

5,617

 

 

 

51

 

 

 

(4

)

 

 

5,664

 

U.S. Treasury securities

 

 

79

 

 

 

 

 

 

 

 

 

79

 

Total

 

$

135,656

 

 

$

174

 

 

$

(3,343

)

 

$

132,487

 

 

 

 

Held-to-Maturity

 

 

 

December 31, 2018

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair

Value

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

11,716

 

 

$

 

 

$

(349

)

 

$

11,367

 

Obligations of U.S. government-sponsored agencies

 

 

8,026

 

 

 

 

 

 

(244

)

 

 

7,782

 

Obligations of states and political subdivisions

 

 

1,720

 

 

 

 

 

 

(17

)

 

 

1,703

 

Total

 

$

21,462

 

 

$

 

 

$

(610

)

 

$

20,852

 

Maturities of Investment Securities Available-for-Sale and Held-to-Maturity

The scheduled maturities of investment securities available-for-sale and held-to-maturity as of December 31, 2019 are presented in the following table:

 

 

 

Available-for-Sale

 

 

Held-to-Maturity

 

 

 

Amortized

Cost

 

 

Estimated

Fair

Value

 

 

Amortized

Cost

 

 

Estimated

Fair

Value

 

 

 

(Dollars in Thousands)

 

Maturing within one year

 

$

341

 

 

$

344

 

 

$

60

 

 

$

60

 

Maturing after one to five years

 

 

17,882

 

 

 

17,881

 

 

 

767

 

 

 

779

 

Maturing after five to ten years

 

 

44,274

 

 

 

44,342

 

 

 

7,064

 

 

 

7,035

 

Maturing after ten years

 

 

31,574

 

 

 

31,449

 

 

 

6,449

 

 

 

6,432

 

Total

 

$

94,071

 

 

$

94,016

 

 

$

14,340

 

 

$

14,306

 

Schedule of Unrealized Loss on Investments

The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of December 31, 2019 and 2018.

 

 

 

Available-for-Sale

 

 

 

December 31, 2019

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

17,340

 

 

$

(66

)

 

$

10,094

 

 

$

(143

)

Commercial

 

 

3,794

 

 

 

(25

)

 

 

29,754

 

 

 

(361

)

U.S. Treasury securities

 

 

80

 

 

 

 

 

 

 

 

 

 

Total

 

$

21,214

 

 

$

(91

)

 

$

39,848

 

 

$

(504

)

 

 

 

Held-to-Maturity

 

 

 

December 31, 2019

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

685

 

 

$

 

 

$

6,405

 

 

$

(46

)

Obligations of U.S. government-sponsored agencies

 

 

846

 

 

 

(4

)

 

 

2,994

 

 

 

(6

)

Total

 

$

1,531

 

 

$

(4

)

 

$

9,399

 

 

$

(52

)

 

 

 

Available-for-Sale

 

 

 

December 31, 2018

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

9,417

 

 

$

(87

)

 

$

53,507

 

 

$

(1,430

)

Commercial

 

 

461

 

 

 

(3

)

 

 

53,430

 

 

 

(1,819

)

Obligations of states and political subdivisions

 

 

879

 

 

 

(2

)

 

 

420

 

 

 

(2

)

U.S. Treasury securities

 

 

79

 

 

 

 

 

 

 

 

 

 

Total

 

$

10,836

 

 

$

(92

)

 

$

107,357

 

 

$

(3,251

)

 

 

 

Held-to-Maturity

 

 

 

December 31, 2018

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

Fair

Value

 

 

Unrealized

Losses

 

 

 

(Dollars in Thousands)

 

Mortgage-backed securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

 

 

$

 

 

$

11,367

 

 

$

(349

)

Obligations of U.S. government-sponsored agencies

 

 

 

 

 

 

 

 

7,782

 

 

 

(244

)

Obligations of states and political subdivisions

 

 

770

 

 

 

 

 

 

933

 

 

 

(17

)

Total

 

$

770

 

 

$

 

 

$

20,082

 

 

$

(610

)