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Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Securities
The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at March 31, 2020 and December 31, 2019 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss).
(Dollars in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
March 31, 2020
 
 

 
 

 
 

 
 

 U.S. government sponsored entities & agencies
 
$
9,624

 
$
151

 
$
—

 
$
9,775

State and political subdivision
 
122,446

 
5,699

 
(465
)
 
127,680

Mortgage-backed securities: residential
 
10,047

 
247

 
—

 
10,294

Mortgage-backed securities: commercial
 
8,527

 
607

 
(1
)
 
9,133

Collateralized mortgage obligations: residential              
 
7,929

 
171

 
(44
)
 
8,056

Collateralized mortgage obligations: commercial              
 
28,960

 
1,107

 
(6
)
 
30,061

U.S. Treasury
 
1,000

 
10

 
—

 
1,010

SBA
 
20,609

 
80

 
(127
)
 
20,562

Asset backed securities
 
10,394

 
—

 
(781
)
 
9,613

Corporate bonds
 
4,483

 
27

 
(23
)
 
4,487

Total available-for-sale
 
$
224,019

 
$
8,099

 
$
(1,447
)
 
$
230,671

December 31, 2019
 
 

 
 

 
 

 
 

State and political subdivision
 
89,304

 
4,463

 
(20
)
 
93,747

Mortgage-backed securities: residential
 
10,609

 
82

 
(126
)
 
10,565

Mortgage-backed securities: commercial
 
8,567

 
224

 
(12
)
 
8,779

Collateralized mortgage obligations: residential              
 
8,541

 
39

 
(51
)
 
8,529

Collateralized mortgage obligations: commercial              
 
22,891

 
300

 
(10
)
 
23,181

U.S. Treasury
 
1,976

 
23

 
—

 
1,999

SBA
 
22,051

 
87

 
(154
)
 
21,984

Asset backed securities
 
10,390

 
—

 
(306
)
 
10,084

Corporate bonds
 
2,030

 
20

 
(13
)
 
2,037

Total available-for-sale
 
$
176,359

 
$
5,238

 
$
(692
)
 
$
180,905
Proceeds from Sales of Securities and Associated Gains and Losses
The proceeds from sales of securities and the associated gains and losses for the periods below are as follows:
 
For the three months ended March 31,
(Dollars in thousands)
2020
 
2019
Proceeds
$
27,581

 
$
6,000

Gross gains
538

 
64

Gross losses
(9
)
 
(71
)
Securities by Contractual Maturity
The amortized cost and fair value of securities are shown in the table below by contractual maturity. Actual timing may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
 
 
March 31, 2020
(Dollars in thousands)
 
Amortized
Cost
 
Fair
Value
Within one year
 
$
8,114

 
$
8,129

One to five years
 
32,389

 
33,124

Five to ten years
 
49,829

 
51,617

Beyond ten years
 
133,687

 
137,801

Total
 
$
224,019

 
$
230,671
Securities with Unrealized Losses
The following table summarizes securities with unrealized losses at March 31, 2020 and December 31, 2019 aggregated by security type and length of time in a continuous unrealized loss position:
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
(Dollars in thousands)
 
Fair
value
 
Unrealized
Losses
 
Fair
value
 
Unrealized
Losses
 
Fair
value
 
Unrealized
Losses
March 31, 2020
 
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale
 
 

 
 

 
 

 
 

 
 

 
 

State and political subdivision
 
$
15,489

 
$
(465
)
 
$
—

 
$
—

 
$
15,489

 
$
(465
)
Mortgage-backed securities: commercial
 
—

 
—

 
427

 
(1
)
 
427

 
(1
)
Collateralized mortgage obligations: residential
 
—

 
—

 
2,708

 
(44
)
 
2,708

 
(44
)
Collateralized mortgage obligations: commercial
 
871

 
(6
)
 
—

 
—

 
871

 
(6
)
SBA
 
3,846

 
(11
)
 
10,467

 
(116
)
 
14,313

 
(127
)
Asset backed securities
 
3,396

 
(168
)
 
6,217

 
(613
)
 
9,613

 
(781
)
Corporate bonds
 
1,499

 
(23
)
 
—

 
—

 
1,499

 
(23
)
Total available-for-sale
 
$
25,101

 
$
(673
)
 
$
19,819

 
$
(774
)
 
$
44,920

 
$
(1,447
)
December 31, 2019
 
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale
 
 

 
 

 
 

 
 

 
 

 
 

State and political subdivision
 
$
5,109

 
$
(20
)
 
$
305

 
$
—

 
$
5,414

 
$
(20
)
Mortgage-backed securities: residential
 
4,022

 
(39
)
 
3,982

 
(87
)
 
8,004

 
(126
)
Mortgage-backed securities: commercial
 
1,769

 
(11
)
 
430

 
(1
)
 
2,199

 
(12
)
Collateralized mortgage obligations: residential
 
770

 
(1
)
 
4,631

 
(50
)
 
5,401

 
(51
)
Collateralized mortgage obligations: commercial
 
—

 
—

 
1,716

 
(10
)
 
1,716

 
(10
)
SBA
 
3,961

 
(13
)
 
12,405

 
(141
)
 
16,366

 
(154
)
Asset backed securities
 
8,220

 
(232
)
 
1,864

 
(74
)
 
10,084

 
(306
)
Corporate bonds
 
489

 
(13
)
 
—

 
—

 
489

 
(13
)
Total available-for-sale
 
$
24,340

 
$
(329
)
 
$
25,333

 
$
(363
)
 
$
49,673

 
$
(692
)