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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Comparison of amortized cost and fair value of securities available for sale
Following is a comparison of the amortized cost and fair value of securities available-for-sale, as of June 30, 2020 and December 31, 2019:
(in 000's) Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Carrying Amount)
June 30, 2020
Securities available-for-sale:
U.S. Government agencies$36,451  $161  $(312) $36,300  
U.S. Government sponsored entities & agencies collateralized by mortgage obligations46,988  837  (23) 47,802  
Asset-backed securities3,860  —  (102) 3,758  
Corporate bonds5,000  17  —  5,017  
Total securities available for sale$92,299  $1,015  $(437) $92,877  
(in 000's) Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value (Carrying Amount)
December 31, 2019
Securities available-for-sale:
U.S. Government agencies$28,737  $152  $(190) $28,699  
U.S. Government sponsored entities & agencies collateralized by mortgage obligations47,824  120  (331) 47,613  
Total securities available for sale$76,561  $272  $(521) $76,312  
Contractual maturities on collateralized mortgage obligation
The amortized cost and fair value of securities available for sale at June 30, 2020, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay obligations with or without call or prepayment penalties. Contractual maturities on collateralized mortgage obligations cannot be anticipated due to allowed paydowns.
 June 30, 2020
 Amortized CostFair Value (Carrying Amount)
(in 000's)
Due in one year or less$—  $—  
Due after one year through five years—  —  
Due after five years through ten years18,435  18,348  
Due after ten years26,876  26,727  
Collateralized mortgage obligations46,988  47,802  
 $92,299  $92,877  
Temporarily impaired investment securities
The following summarizes temporarily impaired investment securities:
(in 000's)Less than 12 Months12 Months or MoreTotal
June 30, 2020Fair Value (Carrying Amount) Unrealized LossesFair Value (Carrying Amount) Unrealized LossesFair Value (Carrying Amount) Unrealized Losses
Securities available for sale:
U.S. Government agencies$13,463  $(123) 14,810  (189) $28,273  $(312) 
U.S. Government sponsored entities & agencies collateralized by mortgage obligations4,242  (7) 2,530  (16) 6,772  (23) 
Corporate bonds—  —  —  —  —  —  
Asset-backed securities3,758  (102) —  —  3,758  (102) 
Total impaired securities$21,463  $(232) $17,340  $(205) $38,803  $(437) 
December 31, 2019      
Securities available for sale:      
U.S. Government agencies$3,961  $(12) $15,989  $(178) $19,950  $(190) 
U.S. Government sponsored entities & agencies collateralized by mortgage obligations25,400  (187) 11,244  (144) 36,644  (331) 
Total impaired securities$29,361  $(199) $27,233  $(322) $56,594  $(521)