INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2018

Investment Securities Activity

Schedule of securities' amortized cost and estimated fair value

The amortized cost and estimated fair value of securities (all available-for-sale (“AFS”)) are as follows:

				Gross		Gross		Approximate
		Amortized		Unrealized		Unrealized		Fair
(Dollars are in thousands)		Cost		Gains		Losses		Value
September 30, 2018
U.S. Government Agencies	$	20,792	$	3	$	(607)	$	20,188
Taxable municipals		4,438	-		(227)		4,211
Corporate bonds		5,426	57		(137)		5,346
Mortgage backed securities		32,141	1		(1,496)		30,646
Total Securities AFS	$	62,797	$	61	$	(2,467)	$	60,391
December 31, 2017
U.S. Government Agencies	$	23,986	$	79	$	(221)	$	23,844
Taxable municipals		4,466	9		(78)		4,397
Corporate bonds		5,437	168		(26)		5,579
Mortgage backed securities		37,950	3		(685)		37,268
Total Securities AFS	$	71,839	$	259	$	(1,010)	$	71,088

Schedule of fair value and gross unrealized losses on investment securities in a continuous unrealized loss position

The following table details unrealized losses and related fair values in the AFS portfolio. This information is aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2018 and December 31, 2017.

		Less than 12 Months				12 Months or More				Total
(Dollars are in thousands)		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
September 30, 2018
U.S. Government Agencies	$	8,959	$	(162)	$	9,406	$	(445)	$	18,365	$	(607)
Taxable municipals		2,706		(148)		1,505		(79)		4,211		(227)
Corporate bonds		2,393		(137)		-		-		2,393		(137)
Mtg. backed securities		4,553		(173)		26,060		(1,323)		30,613		(1,496)
Total Securities AFS	$	18,611	$	(620)	$	36,971	$	(1,847)	$	55,582	$	(2,467)
December 31, 2017
U.S. Government Agencies	$	7,840	$	(69)	$	7,189	$	(152)	$	15,029	$	(221)
Taxable municipals		2,403		(44)		767		(34)		3,170		(78)
Corporate bonds		1,507		(26)		-		-		1,507		(26)
Mtg. backed securities		14,720		(145)		21,500		(540)		36,220		(685)
Total Securities AFS	$	26,470	$	(284)	$	29,456	$	(726)	$	55,926	$	(1,010)

Schedule of gross realized gains and losses pertaining to the sale of investment securities available for sale

Gross realized gains and losses pertaining to the sale of investment securities available for sale are detailed as follows: 

	For the three months ended September 30,					For the nine months ended September 30,
(Dollars are in thousands)	2018		2017			2018		2017
Gross gains realized	$	—	$	30		$	—	$	30
Gross losses realized		—		(30	)		—		(30	)
Net realized gains	$	—	$	—		$	—	$	—

Schedule of amortized cost and fair value of investment securities' contractual maturity

The amortized cost and fair value of investment securities at September 30, 2018, by contractual maturity, are shown in the following schedule. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

						Weighted
(Dollars are in thousands)		Amortized		Fair		Average
Securities Available-for-Sale		Cost		Value		Yield
Due in one year or less	$	32	$	33		0.00%
Due after one year through five years	4,656		4,560		2.53%
Due after five years through ten years		14,955		14,499		3.20%
Due after ten years		43,154		41,299		2.40%
Total	$	62,797	$	60,391		2.60%