Investment Securities (Bank Holding Company Accounting)

12 Months Ended

Dec. 31, 2019

Schedule Of Investments [Abstract]

Investment Securities (Bank Holding Company Accounting)

(3) INVESTMENT SECURITIES (Bank Holding Company Accounting)

Fixed maturity securities available for sale at December 31, 2019 and 2018 consisted of the following:

December 31, 2019 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US    federal agencies	$	36,335	$	411	$	(112	)	$	36,634
State and municipalities		12,279		186		(101	)		12,364
Total	$	48,614	$	597	$	(213	)	$	48,998
December 31, 2018 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US    federal agencies	$	32,184	$	15	$	(742	)	$	31,457
State and municipalities		14,239		35		(407	)		13,867
Total	$	46,423	$	50	$	(1,149	)	$	45,324

The amortized cost and estimated market value of investment securities as of December 31, 2019 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	2,035	$	2,029
Due after one year through five years		10,254		10,281
Due after five years through ten years		10,052		10,101
Due after ten years		26,273		26,587
Total	$	48,614	$	48,998

The following tables show information pertaining to securities with gross unrealized losses at December 31, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows.

	Less than Twelve Months					Twelve Months and Over
December 31, 2019 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US    federal agencies	$	(74	)	$	8,291	$	(38	)	$	4,939
State and municipalities		(17	)		2,099		(84	)		2,739
Total	$	(91	)	$	10,390	$	(122	)	$	7,678
	Less than Twelve Months					Twelve Months and Over
December 31, 2018 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US    federal agencies	$	(54	)	$	4,616	$	(688	)	$	24,871
State and municipalities		(78	)		5,429		(329	)		6,259
Total	$	(132	)	$	10,045	$	(1,017	)	$	31,130

Unrealized losses on securities have not been recognized into income because the issuers’ bonds are of high credit quality, and the Company has the intent and ability to hold the securities for the foreseeable future. The fair value is expected to recover as the bonds approach the maturity date.