Securities (Tables)

9 Months Ended

Sep. 30, 2020

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 at September 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

	September 30, 2020
			Gross Unrealized
	Amortized Cost		Gains		Losses		Fair Value
Securities Available for Sale
U.S. Treasury securities	$	12,500	$	—	$	—	$	12,500
U.S. Government agencies		19,942		83		(280)		19,745
State, county and municipal		109,976		6,608		(50)		116,534
Mortgage backed securities		28,086		1,865		—		29,951
Asset backed securities		28,748		373		(135)		28,986
Corporate bonds		25,454		496		(13)		25,937
Total Securities Available for Sale	$	224,706	$	9,425	$	(478)	$	233,653
Securities Held to Maturity
State, county and municipal	$	23,026	$	1,092	$	—	$	24,118
Total Securities Held to Maturity	$	23,026	$	1,092	$	—	$	24,118

	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

Amortized Cost and Fair Value of Securities by Contractual Maturity

	Held to Maturity				Available for Sale
(dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	2,941	$	2,960	$	31,603	$	31,763
Due after one year through five years		14,630		15,403		80,130		82,863
Due after five years through ten years		5,204		5,467		88,038		93,204
Due after ten years		251		288		24,935		25,823
Total securities	$	23,026	$	24,118	$	224,706	$	233,653

Summary of Realized Gains and Losses on Sales of Securities

Gross realized gains and losses on securities transactions during the three and nine months ended September 30, 2020 and 2019 were as follows (dollars in thousands):

	Three months ended				Nine months ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Gross realized gains	$	79	$	87	$	375	$	504
Gross realized losses		(1)		(37)		(94)		(230)
Net securities gain	$	78	$	50	$	281	$	274

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 September 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

	September 30, 2020
	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	$	2,912	$	(9)	$	8,765	$	(271)	$	11,677	$	(280)
State, county and municipal		4,830		(35)		301		(15)		5,131		(50)
Asset backed securities		12,536		(38)		4,388		(97)		16,924		(135)
Corporate bonds		7,727		(13)		—		—		7,727		(13)
Total	$	28,005	$	(95)	$	13,454	$	(383)	$	41,459	$	(478)

	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)