Contractual maturities and yields on the Company’s investment securities at September 30, 2020 and December 31, 2019 are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


	September 30, 2020
	Less than one year				One to five years					Five to ten years					Over ten years					Total
(dollars in thousands)	Amount		Yield		Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Available for sale
US government agencies	$	-		-		2,500		0.37	%		1,998		1.01	%		999		1.48	%		5,497		0.80	%
SBA securities		-		-		-		-			-		-			490		0.98	%		490		0.98	%
State and political subdivisions		-		-		-		-			3,050		2.49	%		13,494		2.38	%		16,544		2.40	%
Asset-backed securities		-		-		-		-			2,087		1.18	%		9,682		1.01	%		11,769		1.04	%
Mortgage-backed securities		-		-		2,752		1.82	%		8,725		1.98	%		42,214		1.39	%		53,691		1.51	%
Total	$	-		-		5,252		1.13	%		15,860		1.85	%		66,879		1.53	%		87,991		1.57	%


	December 31, 2019
	Less than one year				One to five years					Five to ten years					Over ten years					Total
(dollars in thousands)	Amount		Yield		Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Available for sale
US government agencies	$	-		-		499		1.97	%		-		-			-		-			499		1.97	%
SBA securities		-		-		-		-			-		-			531		2.62	%		531		2.62	%
State and political subdivisions		-		-		808		2.81	%		1,283		2.96	%		2,093		2.67	%		4,184		2.79	%
Asset-backed securities		-		-		-		-			1,493		2.34	%		11,674		2.61	%		13,167		2.58	%
Mortgage-backed securities		-		-		3,368		1.78	%		7,638		2.00	%		38,307		2.24	%		49,313		2.17	%
Total	$	-		-		4,675		1.98	%		10,414		2.17	%		52,605		2.34	%		67,694		2.29	%

The tables below summarize gross unrealized losses on investment securities and the fair market value of the related securities at September 30, 2020 and December 31, 2019, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.


	September 30, 2020
	Less than 12 months						12 months or longer						Total
			Fair		Unrealized				Fair		Unrealized				Fair		Unrealized
(dollars in thousands)	#		value		losses		#		value		losses		#		value		losses
Available for sale
US government agencies		5	$	4,997	$	3		-	$	-	$	-		5	$	4,997	$	3
SBA securities		-		-		-		1		490		19		1		490		19
State and political subdivisions		7		4,532		29		-		-		-		7		4,532		29
Asset-backed securities		4		3,922		57		5		7,016		132		9		10,938		189
Mortgage-backed securities
FHLMC		3		4,065		60		-		-		-		3		4,065		60
FNMA		3		5,510		57		3		2,153		23		6		7,663		80
GNMA		3		6,267		52		-		-		-		3		6,267		52
Total		25	$	29,293	$	258		9	$	9,659	$	174		34	$	38,952	$	432


	December 31, 2019
	Less than 12 months						12 months or longer						Total
			Fair		Unrealized				Fair		Unrealized				Fair		Unrealized
(dollars in thousands)	#		value		losses		#		value		losses		#		value		losses
Available for sale
US government agencies		1	$	499	$	1		-	$	-	$	-		1	$	499	$	1
SBA securities		-		-		-		1		531		19		1		531		19
State and political subdivisions		2		2,093		24		-		-		-		2		2,093		24
Asset-backed securities		5		5,921		68		5		7,246		116		10		13,167		184
Mortgage-backed securities
FHLMC		4		3,842		2		4		2,323		13		8		6,165		15
FNMA		14		15,500		67		11		9,462		102		25		24,962		169
GNMA		2		2,240		6		1		734		15		3		2,974		21
Total		28	$	30,095	$	168		22	$	20,296	$	265		50	$	50,391	$	433

At September 30, 2020, the Company had 25 individual investments with a fair market value of $29.3 million that were in an unrealized loss position for less than 12 months and nine individual investments with a fair market value of $9.7 million that were in an unrealized loss position for 12 months or longer. The unrealized losses were primarily attributable to changes in interest rates, rather than deterioration in credit quality. The individual securities are each investment grade securities. The Company considers the length of time and extent to which the fair value of available-for-sale debt securities have been less than cost to conclude that such securities are not other-than-temporarily impaired. The Company also considers other factors such as the financial condition of the issuer including credit ratings and specific events affecting the operations of the issuer, volatility of the security, underlying assets that collateralize the debt security, and other industry and macroeconomic conditions.

As the Company has no intent to sell securities with unrealized losses and it is not more-likely-than-not that the Company will be required to sell these securities before recovery of amortized cost, the Company has concluded that these securities are not impaired on an other-than-temporary basis.

Other investments are comprised of the following and are recorded at cost which approximates fair value.


(dollars in thousands)	September 30, 2020		December 31, 2019
Federal Home Loan Bank stock	$	2,041		6,386
Other investments		145		159
Investment in Trust Preferred securities		403		403
Total other investments	$	2,589		6,948

The Company has evaluated the Federal Home Loan Bank (“FHLB”) stock for impairment and determined that the investment in the FHLB stock is not other than temporarily impaired as of September 30, 2020 and that ultimate recoverability of the par value of this investment is probable. All of the FHLB stock is used to collateralize advances with the FHLB.