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v3.21.1

Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2021
Investment Securities |
Schedule of cost basis and fair values of investment securities | The cost basis and fair values of investment securities are summarized as follows: Investment securities available for sale (AFS):
|  | March 31, 2021
|  |  |  |  | GROSS |  | GROSS |  |  |
|  |  |  |  | UNREALIZED |  | UNREALIZED |  | FAIR
|  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
|  | (IN THOUSANDS)
U.S. Agency |  | $ | 6,786 |  | $ | 135 |  | $ | (33) |  | $ | 6,888
U.S. Agency mortgage-backed securities |  |  | 75,758 |  |  | 2,016 |  |  | (899) |  |  | 76,875
Municipal |  |  | 19,859 |  |  | 1,001 |  |  | (83) |  |  | 20,777
Corporate bonds |  |  | 51,040 |  |  | 1,002 |  |  | (166) |  |  | 51,876
Total |  | $ | 153,443 |  | $ | 4,154 |  | $ | (1,181) |  | $ | 156,416
Investment securities held to maturity (HTM):
|  | March 31, 2021
|  |  |  |  | GROSS |  | GROSS |  |  |
|  |  |  |  | UNREALIZED |  | UNREALIZED |  | FAIR
|  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
|  | (IN THOUSANDS)
U.S. Agency |  | $ | 1,500 |  | $ | — |  | $ | — |  | $ | 1,500
U.S. Agency mortgage-backed securities |  |  | 9,317 |  |  | 311 |  |  | (91) |  |  | 9,537
Municipal |  |  | 30,935 |  |  | 1,797 |  |  | (261) |  |  | 32,471
Corporate bonds and other securities |  |  | 6,025 |  |  | 79 |  |  | (29) |  |  | 6,075
Total |  | $ | 47,777 |  | $ | 2,187 |  | $ | (381) |  | $ | 49,583
Investment securities available for sale (AFS):
|  | December 31, 2020
|  |  |  |  | GROSS |  | GROSS |  |  |
|  |  |  |  | UNREALIZED |  | UNREALIZED |  | FAIR
|  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
|  | (IN THOUSANDS)
U.S. Agency |  | $ | 2,971 |  | $ | 181 |  | $ | — |  | $ | 3,152
U.S. Agency mortgage-backed securities |  |  | 65,398 |  |  | 2,533 |  |  | (18) |  |  | 67,913
Municipal |  |  | 19,000 |  |  | 1,348 |  |  | — |  |  | 20,348
Corporate bonds |  |  | 52,315 |  |  | 666 |  |  | (229) |  |  | 52,752
Total |  | $ | 139,684 |  | $ | 4,728 |  | $ | (247) |  | $ | 144,165
Investment securities held to maturity (HTM):
|  | December 31, 2020
|  |  |  |  | GROSS |  | GROSS |  |  |
|  |  |  |  | UNREALIZED |  | UNREALIZED |  | FAIR
|  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
|  | (IN THOUSANDS)
U.S. Agency mortgage-backed securities |  | $ | 8,119 |  | $ | 369 |  | $ | — |  | $ | 8,488
Municipal |  |  | 30,076 |  |  | 2,455 |  |  | (49) |  |  | 32,482
Corporate bonds and other securities |  |  | 6,027 |  |  | 113 |  |  | (4) |  |  | 6,136
Total |  | $ | 44,222 |  | $ | 2,937 |  | $ | (53) |  | $ | 47,106
Schedule of investment securities |
|  | March 31, 2021
|  | Available for sale |  | Held to maturity
|  | Cost Basis |  | Fair Value |  | Cost Basis |  | Fair Value
Within 1 year |  | $ | 4,587 |  | $ | 4,634 |  | $ | 3,400 |  | $ | 3,398
After 1 year but within 5 years |  |  | 26,757 |  |  | 27,575 |  |  | 8,164 |  |  | 8,552
After 5 years but within 10 years |  |  | 50,613 |  |  | 51,944 |  |  | 19,061 |  |  | 20,270
After 10 years but within15 years |  |  | 14,788 |  |  | 15,380 |  |  | 10,162 |  |  | 10,326
Over 15 years |  |  | 56,698 |  |  | 56,883 |  |  | 6,990 |  |  | 7,037
Total |  | $ | 153,443 |  | $ | 156,416 |  | $ | 47,777 |  | $ | 49,583
Schedule of investments with unrealized losses | The following tables present information concerning investments with unrealized losses as of March 31, 2021 and December 31, 2020 (in thousands): Total investment securities:
|  | March 31, 2021
|  | LESS THAN 12 MONTHS |  | 12 MONTHS OR LONGER |  | TOTAL
|  | FAIR |  | UNREALIZED |  | FAIR |  | UNREALIZED |  | FAIR |  | UNREALIZED
|  | VALUE |  | LOSSES |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES
U.S. Agency |  | $ | 1,967 |  | $ | (33) |  | $ | — |  | $ | — |  | $ | 1,967 |  | $ | (33)
U.S. Agency mortgage-backed securities |  |  | 28,534 |  |  | (989) |  |  | 101 |  |  | (1) |  |  | 28,635 |  |  | (990)
Municipal |  |  | 8,958 |  |  | (297) |  |  | 751 |  |  | (47) |  |  | 9,709 |  |  | (344)
Corporate bonds and other securities |  |  | 9,466 |  |  | (130) |  |  | 7,435 |  |  | (65) |  |  | 16,901 |  |  | (195)
Total |  | $ | 48,925 |  | $ | (1,449) |  | $ | 8,287 |  | $ | (113) |  | $ | 57,212 |  | $ | (1,562)
Total investment securities:
|  | December 31, 2020
|  | LESS THAN 12 MONTHS |  | 12 MONTHS OR LONGER |  | TOTAL
|  | FAIR |  | UNREALIZED |  | FAIR |  | UNREALIZED |  | FAIR |  | UNREALIZED
|  | VALUE |  | LOSSES |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES
U.S. Agency mortgage-backed securities |  | $ | 6,394 |  | $ | (17) |  | $ | 123 |  | $ | (1) |  | $ | 6,517 |  | $ | (18)
Municipal |  |  | — |  |  | — |  |  | 751 |  |  | (49) |  |  | 751 |  |  | (49)
Corporate bonds and other securities |  |  | 13,083 |  |  | (162) |  |  | 7,929 |  |  | (71) |  |  | 21,012 |  |  | (233)
Total |  | $ | 19,477 |  | $ | (179) |  | $ | 8,803 |  | $ | (121) |  | $ | 28,280 |  | $ | (300)

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
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