Investment Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investment Securities [Abstract]

Amortized Cost and Fair Value of Securities

	September 30, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
		(Dollars in thousands)
SECURITIES AVAILABLE FOR SALE:
Debt Securities
U.S. government agencies	$	2,010	$	364	$	-	$	2,374
Municipal bonds		44,816		1,089		(32)		45,873
Mortgage-backed securities:
Collateralized mortgage obligations-private label		19		-		-		19
Collateralized mortgage obligations-government sponsored entities		25,091		674		(15)		25,750
Government National Mortgage Association		128		12		-		140
Federal National Mortgage Association		4,520		125		-		4,645
Federal Home Loan Mortgage Corporation		2,419		173		-		2,592
Asset-backed securities-private label		-		171		-		171
Asset-backed securities-government sponsored entities		31		3		-		34
Total Debt Securities	$	79,034	$	2,611	$	(47)	$	81,598
Equity Securities		22		21		-		43
Total Securities Available for Sale	$	79,056	$	2,632	$	(47)	$	81,641

	December 31, 2019
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
		(Dollars in thousands)
SECURITIES AVAILABLE FOR SALE:
Debt Securities
U.S. government agencies	$	2,011	$	134	$	-	$	2,145
Municipal bonds		34,985		835		(1)		35,819
Mortgage-backed securities:
Collateralized mortgage obligations-private label		23		-		-		23
Collateralized mortgage obligations-government sponsored entities		27,081		393		(133)		27,341
Government National Mortgage Association		162		14		-		176
Federal National Mortgage Association		1,944		69		-		2,013
Federal Home Loan Mortgage Corporation		3,211		156		-		3,367
Asset-backed securities-private label		-		215		-		215
Asset-backed securities-government sponsored entities		33		2		-		35
Total Debt Securities	$	69,450	$	1,818	$	(134)	$	71,134
Equity Securities		22		45		-		67
Total Securities Available for Sale	$	69,472	$	1,863	$	(134)	$	71,201

Investment in Debt Securities Available for Sale Gross Unrealized Loss

	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
	(Dollars in thousands)
September 30, 2020
Municipal bonds	$	3,757		(32)	$	-	$	-	$	3,757	$	(32)
Mortgage-backed securities		2,246		(14)		152		(1)		2,398		(15)
	$	6,003	$	(46)	$	152	$	(1)	$	6,155	$	(47)

December 31, 2019
Municipal bonds	$	399		(1)	$	-	$	-	$	399	$	(1)
Mortgage-backed securities		423		(3)		10,676		(130)		11,099		(133)
	$	822	$	(4)	$	10,676	$	(130)	$	11,498	$	(134)

Summary of Credit-Related OTTI Charges Recognized as Components of Income

	For the Nine Months Ended September 30,
	2020		2019
	(Dollars in thousands)
Beginning balance	$	294	$	347
Additions:
Credit loss not previously recognized		-		-
Reductions:
Losses realized during the period on OTTI previously recognized		-		-
Receipt of cash flows on previously recorded OTTI		(48)		(39)
Ending balance	$	246	$	308

Scheduled Contractual Maturities of Available for Sale Debt Securities

	Amortized		Fair
	Cost		Value
	(Dollars in thousands)
September 30, 2020:
Less than one year	$	895	$	897
After one year through five years		7,416		7,472
After five years through ten years		13,684		14,221
After ten years		24,831		25,657
Mortgage-backed securities		32,177		33,146
Asset-backed securities		31		205
	$	79,034	$	81,598