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Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Securities [Abstract]  
Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity

Amortized costs and fair values of securities available for sale and held to maturity as of December 31, 2019 and 2018 were as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

 

 

 

Gross Unrealized

 

  

 

 

    

Amortized Cost

    

Gains

    

Losses

    

Fair Value

Securities Available for Sale

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Government agencies

 

$

22,104

 

$

51

 

$

(219)

 

$

21,936

State, county and municipal

 

 

95,467

 

 

3,167

 

 

(42)

 

 

98,592

Mortgage backed securities

 

 

48,045

 

 

808

 

 

(113)

 

 

48,740

Asset backed securities

 

 

11,637

 

 

49

 

 

(82)

 

 

11,604

Corporate bonds

 

 

6,016

 

 

84

 

 

(3)

 

 

6,097

Total Securities Available for Sale

 

$

183,269

 

$

4,159

 

$

(459)

 

$

186,969

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Government agencies

 

$

10,000

 

$

 —

 

$

(12)

 

$

9,988

State, county and municipal

 

 

25,733

 

 

913

 

 

(1)

 

 

26,645

Total Securities Held to Maturity

 

$

35,733

 

$

913

 

$

(13)

 

$

36,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

Gross Unrealized

 

 

 

 

    

Amortized Cost

    

Gains

    

Losses

    

Fair Value

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

13,460

 

$

 —

 

$

(336)

 

$

13,124

U.S. Government agencies

 

 

24,689

 

 

71

 

 

(151)

 

 

24,609

State, county and municipal

 

 

112,465

 

 

1,018

 

 

(941)

 

 

112,542

Mortgage backed securities

 

 

46,877

 

 

196

 

 

(656)

 

 

46,417

Asset backed securities

 

 

5,342

 

 

73

 

 

(4)

 

 

5,411

Corporate bonds

 

 

4,685

 

 

 —

 

 

(62)

 

 

4,623

Total Securities Available for Sale

 

$

207,518

 

$

1,358

 

$

(2,150)

 

$

206,726

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Government agencies

 

$

10,000

 

$

 —

 

$

(210)

 

$

9,790

State, county and municipal

 

 

32,108

 

 

419

 

 

(64)

 

 

32,463

Total Securities Held to Maturity

 

$

42,108

 

$

419

 

$

(274)

 

$

42,253

 

Amortized Cost and Fair Value of Securities by Contractual Maturity

Expected maturities may differ from final contractual maturities because issuers may have the right to call or prepay obligations without any penalties.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held to Maturity

 

Available for Sale

(dollars in thousands)

    

Amortized Cost

    

Fair Value

    

Amortized Cost

    

Fair Value

Due in one year or less

 

$

3,052

 

$

3,076

 

$

18,193

 

$

18,324

Due after one year through five years

 

 

25,571

 

 

26,172

 

 

61,066

 

 

61,864

Due after five years through ten years

 

 

6,859

 

 

7,107

 

 

83,314

 

 

85,784

Due after ten years

 

 

251

 

 

278

 

 

20,696

 

 

20,997

Total securities

 

$

35,733

 

$

36,633

 

$

183,269

 

$

186,969

 

Summary of Realized Gains and Losses on Sales of Securities

Gross realized gains and losses on sales of securities available for sale during the years ended December 31, 2019 and 2018 were as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

2019

    

2018

Gross realized gains

 

$

507

 

$

187

Gross realized losses

 

 

(272)

 

 

(117)

Net securities gain

 

$

235

 

$

70

 

Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale

 

The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at December 31, 2019 and 2018 were as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

Less than 12 Months

 

12 Months or More

 

Total

 

    

Fair Value

    

Unrealized Loss

    

Fair Value

    

Unrealized Loss

    

Fair Value

    

Unrealized Loss

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

6,396

 

$

(102)

 

$

8,020

 

$

(117)

 

$

14,416

 

$

(219)

State, county and municipal

 

 

7,088

 

 

(32)

 

 

308

 

 

(10)

 

 

7,396

 

 

(42)

Mortgage backed securities

 

 

11,001

 

 

(40)

 

 

4,287

 

 

(73)

 

 

15,288

 

 

(113)

Asset backed securities

 

 

4,861

 

 

(74)

 

 

625

 

 

(8)

 

 

5,486

 

 

(82)

Corporate bonds

 

 

248

 

 

(3)

 

 

 —

 

 

 —

 

 

248

 

 

(3)

Total

 

$

29,594

 

$

(251)

 

$

13,240

 

$

(208)

 

$

42,834

 

$

(459)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Government agencies

 

$

 —

 

$

 —

 

$

9,988

 

$

(12)

 

$

9,988

 

$

(12)

State, county and municipal

 

 

31

 

 

 —

 

 

622

 

 

(1)

 

 

653

 

 

(1)

Total

 

$

31

 

$

 —

 

$

10,610

 

$

(13)

 

$

10,641

 

$

(13)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

Less than 12 Months

 

12 Months or More

 

Total

 

    

Fair Value

    

Unrealized Loss

    

Fair Value

    

Unrealized Loss

    

Fair Value

    

Unrealized Loss

Securities Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

1,480

 

$

(1)

 

$

11,644

 

$

(335)

 

$

13,124

 

$

(336)

U.S. Government agencies

 

 

6,959

 

 

(47)

 

 

5,155

 

 

(104)

 

 

12,114

 

 

(151)

State, county and municipal

 

 

7,918

 

 

(81)

 

 

34,540

 

 

(860)

 

 

42,458

 

 

(941)

Mortgage backed securities

 

 

11,513

 

 

(94)

 

 

15,811

 

 

(562)

 

 

27,324

 

 

(656)

Asset backed securities

 

 

537

 

 

(1)

 

 

294

 

 

(3)

 

 

831

 

 

(4)

Corporate bonds

 

 

3,661

 

 

(47)

 

 

236

 

 

(15)

 

 

3,897

 

 

(62)

Total

 

$

32,068

 

$

(271)

 

$

67,680

 

$

(1,879)

 

$

99,748

 

$

(2,150)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Government agencies

 

$

 —

 

$

 —

 

$

9,790

 

$

(210)

 

$

9,790

 

$

(210)

State, county and municipal

 

 

2,452

 

 

(20)

 

 

3,985

 

 

(44)

 

 

6,437

 

 

(64)

Total

 

$

2,452

 

$

(20)

 

$

13,775

 

$

(254)

 

$

16,227

 

$

(274)