Investment Securities (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Investments in Available-for-sale and Held-to-maturity Securities

The following is a summary of the Company's investments in available for sale and held to maturity securities as of December 31, 2021 and 2020:


As of December 31, 2021	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
	(Dollars in thousands)
Available for sale:
Corporate debt obligations	$	500	$	—	$	—	$	500
Residential mortgage-backed securities	12,513		372		42		12,843
Collateralized mortgage obligations	8		—		—		8
Total available for sale	$	13,021	$	372	$	42	$	13,351

Held to maturity:
States and political subdivisions	$	3,761	$	241	$	16	$	3,986
Residential mortgage-backed securities	6,157		—		118		6,039
Total held to maturity	$	9,918	$	241	$	134	$	10,025


As of December 31, 2020	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
	(Dollars in thousands)
Available for sale:
Corporate debt obligations	$	500	$	—	$	—	$	500
Residential mortgage-backed securities	18,736		646		23		19,359
Collateralized mortgage obligations	22		1		—		23
Total available for sale	$	19,258	$	647	$	23	$	19,882

Held to maturity:
States and political subdivisions	$	1,224	$	306	$	—	$	1,530

Schedule of Investments Classified by Contractual Maturity

The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of December 31, 2021, are as follows:


	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for sale:
Due within one year	$	10	$	9
Due after one year through five years	610		611
Due after five years through ten years	7,223		7,388
Due after ten years	5,178		5,343
Total available for sale	$	13,021	$	13,351

Held to maturity:
Due within one year	$	—	$	—
Due after one year through five years	—		—
Due after five years through ten years	1,283		1,524
Due after ten years	8,635		8,501
Total held to maturity	$	9,918	$	10,025

Schedule Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company's investments which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2021 and December 31, 2020.


As of December 31, 2021	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
Available for sale:
Residential mortgage-backed securities	$	168	$	1	$	1,418	$	41	$	1,586	$	42
Total available for sale	$	168	$	1	$	1,418	$	41	$	1,586	$	42

Held to maturity:
States and political subdivisions	$	2,462	$	16	$	—	$	—	$	2,462	$	16
Residential mortgage-backed securities	6,039		118		—		—		6,039		118
Total held to maturity	$	8,501	$	134	$	—	$	—	$	8,501	$	134


As of December 31, 2020	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
Available for sale:
Residential mortgage-backed securities	$	2,142	$	20	$	215	$	3	$	2,357	$	23
Total available for sale	$	2,142	$	20	$	215	$	3	$	2,357	$	23