INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

INVESTMENT SECURITIES

Schedule of the amortized cost and fair value of securities available for sale, with gross unrealized gains and losses recognized

The following presents the amortized cost and fair value of securities available‑for‑sale, with gross unrealized gains and losses recognized in accumulated other comprehensive loss as of December 31, 2019 and December 31, 2018 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost		Gains		Losses		Value
Investment securities available-for-sale:
U.S. Treasury debt	$	250	$	4	$	—	$	254
Government National Mortgage Association ("GNMA") mortgage-backed securities – residential		45,490		157		(335)		45,312
Federal National Mortgage Association ("FNMA") mortgage-backed securities – residential		2,935		11		(29)		2,917
Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS")		10,425		40		(45)		10,420
Total securities available-for-sale	$	59,100	$	212	$	(409)	$	58,903

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2018	Cost		Gains		Losses		Value
Investment securities available-for-sale:
U.S. Treasury debt	$	250	$	—	$	—	$	250
GNMA		35,591		8		(1,597)		34,002
FNMA		4,076		2		(208)		3,870
Securities issued by U.S. government sponsored entities and agencies		4,525		—		(223)		4,302
Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS")		1,281		1		(11)		1,271
Total securities available-for-sale	$	45,723	$	11	$	(2,039)	$	43,695

Summary of the amortized cost and estimated fair value of available for sale securities, excluding SBIC with contractual maturity dates

	Amortized		Fair
December 31, 2019	Cost		Value
Due after one year through five years	$	250	$	254
Securities (agency and CMO)		58,850		58,649
Total	$	59,100	$	58,903

Summary of securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position

The following table summarizes securities with unrealized losses at December 31, 2019 and December 31, 2018, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands, before tax):

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2019	Value		Losses		Value		Losses		Value		Losses
GNMA	$	28,203	$	(193)	$	4,450	$	(142)	$	32,653	$	(335)
FNMA		—		—		2,347		(29)		2,347		(29)
Corporate CMO and MBS		7,780		(45)		—		—		7,780		(45)
Total	$	35,983	$	(238)	$	6,797	$	(171)	$	42,780	$	(409)

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2018	Value		Losses		Value		Losses		Value		Losses
GNMA	$	201	$	—	$	32,696	$	(1,597)	$	32,897	$	(1,597)
FNMA		436		(3)		3,215		(205)		3,651		(208)
Securities issued by U.S. government sponsored entities and agencies		—		—		4,302		(223)		4,302		(223)
Corporate CMO and MBS		1,145		(9)		63		(2)		1,208		(11)
Total	$	1,782	$	(12)	$	40,276	$	(2,027)	$	42,058	$	(2,039)