Investment securities available for sale (Tables)

3 Months Ended

Mar. 31, 2020

Investment securities available for sale

Schedule of amortized cost and fair value of investment securities available for sale

The amortized cost and fair value of investment securities available for sale as of March 31, 2020  and December 31, 2019 are as follows (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
March 31, 2020
U.S. Government agency obligations	$	12,706	$	154	$	(3)	$	12,857
Mortgage-backed securities		17,989		631		—		18,620
Subordinated debt		7,779		43		(218)		7,604
	$	38,474	$	828	$	(221)	$	39,081
December 31, 2019
U.S. Government agency obligations	$	14,797	$	57	$	(9)	$	14,845
Mortgage-backed securities		25,124		204		(26)		25,302
Subordinated debt		6,779		91		(80)		6,790
	$	46,700	$	352	$	(115)	$	46,937

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

Gross realized gains and losses pertaining to available for sale securities are detailed as follows for the periods indicated (in thousands):

	Three Months Ended
	March 31,
	2020		2019
Gross realized gains	$	39	$	101
Gross realized losses		(27)		—
	$	12	$	101

Schedule of investment securities available for sale

Investment securities available for sale that have an unrealized loss position at March 31, 2020 and December 31, 2019 are detailed below (in thousands):

	Securities in a loss				Securities in a loss
	position for less than				position for more than
	12 Months				12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
March 31, 2020
U.S. Government agency obligations	$	—	$	—	$	1,201	$	(3)	$	1,201	$	(3)
Subordinated debt		4,344		(136)		418		(82)		4,762		(218)
	$	4,344	$	(136)	$	1,619	$	(85)	$	5,963	$	(221)
December 31, 2019
U.S. Government agency obligations	$	2,001	$	(1)	$	5,368	$	(8)	$	7,369	$	(9)
Mortgage-backed securities		2,747		(26)		—		—		2,747		(26)
Subordinated debt		759		(6)		940		(74)		1,699		(80)
	$	5,507	$	(33)	$	6,308	$	(82)	$	11,815	$	(115)

Schedule of investment by contractual maturity

The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2020, by contractual maturity, are as follows (in thousands):

	Amortized
	Cost		Fair Value
Less than one year	$	6,208	$	6,257
One to five years		4,489		4,557
Five to ten years		10,114		9,989
More than ten years		17,663		18,278
Total	$	38,474	$	39,081