XML 35 R24.htm IDEA: XBRL DOCUMENT

Investments - (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of major components of securities available for sale and comparison of amortized cost, estimated fair market values, and gross unrealized gains and losses

The following table sets forth the major components of securities available for sale and compares the amortized costs and estimated fair market values of, and the gross unrealized gains and losses on, these securities at June 30, 2020 and December 31, 2019:


(Dollars in thousands)	June 30, 2020																					December 31, 2019
			Amortized Cost			Gross Unrealized									Estimated Fair Value			Amortized Cost			Gross Unrealized				Estimated Fair Value
									Gain			Loss												Gain		Loss
Securities Available for Sale

Commercial mortgage backed securities issued by U.S. Agencies⁽¹⁾	$	8,537		$	416		$	—		$	8,953		$	9,147		$	128		$	(46)		$	9,229
Residential mortgage backed securities issued by U.S. Agencies⁽²⁾	16,883			380			(3)			17,260			19,380			12			(277)			19,115




Total	$	25,420		$	796		$	(3)		$	26,213		$	28,527		$	140		$	(323)		$	28,344

(1)Secured by first liens on commercial apartment building mortgages.

(2)Secured by closed-end first liens on 1-4 family residential mortgages.

Schedule of amortized cost and estimated fair values of securities available for sale by contractual maturities and historical prepayments based on prior twelve months of principal payments

The amortized cost and estimated fair values of securities available for sale at June 30, 2020 and December 31, 2019 are shown in the tables below by contractual maturities taking into consideration historical prepayments based on the prior twelve months of principal payments. Expected maturities will differ from contractual maturities and historical prepayments, particularly with respect to collateralized mortgage obligations, primarily because prepayment rates are affected by changes in conditions in the interest rate market and, therefore, future prepayment rates may differ from historical prepayment rates.


	At June 30, 2020 Maturing in
(Dollars in thousands)	One year or less			Over one year through five years			Over five years through ten years			Over ten Years			Total
Securities available for sale, amortized cost	$	5,379		$	12,570		$	7,471		$	—		$	25,420
Securities available for sale, estimated fair value	5,465			12,880			7,868			—			26,213
Weighted average yield	1.42		%	1.51		%	1.92		%	—		%	1.61		%


	At December 31, 2019 Maturing in
(Dollars in thousands)	One year or less			Over one year through five years			Over five years through ten years			Over ten Years			Total
Securities available for sale, amortized cost	$	5,286		$	13,032		$	6,842		$	3,367		$	28,527
Securities available for sale, estimated fair value	5,230			12,887			6,849			3,378			28,344
Weighted average yield	1.58		%	1.66		%	2.22		%	2.53		%	1.88		%

Schedule of gross unrealized losses and fair values of investments

The tables below indicate, as of June 30, 2020 and December 31, 2019, the gross unrealized losses and fair values of our investments, aggregated by investment category, and length of time that the individual securities have been in a continuous unrealized loss position.


	Securities with Unrealized Loss at June 30, 2020
	Less than 12 months						12 months or more						Total
(Dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Commercial mortgage backed securities issued by U.S. Agencies	$	43	$	—	$	164	$	(3)	$	207	$	(3)




Total	$	43	$	—	$	164	$	(3)	$	207	$	(3)


	Securities with Unrealized Loss at December 31, 2019
	Less than 12 months						12 months or more						Total
(Dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Commercial mortgage backed securities issued by U.S. Agencies	4,472		(46)		—		—		4,472		(46)
Residential mortgage backed securities issued by U.S. Agencies	76		(1)		15,965		(276)		16,041		(277)



Total	$	4,548	$	(47)	$	15,965	$	(276)	$	20,513	$	(323)

Schedule of other investments

As of June 30, 2020 and December 31, 2019, our equity investments without readily determinable fair value were as follows:


	June 30, 2020		December 31, 2019
	(Dollars in thousands)
Equity investments without readily determinable fair value	$	2,316	$	2,117