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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The following table presents the amortized cost and fair value of the investment securities as of the dates indicated:
($ in thousands)
Amortized Cost
Gross Unrealized GainGross Unrealized Loss
Fair Value
September 30, 2020
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$78,289 $1,504 $(22)$79,771 
Residential collateralized mortgage obligations
30,430 312 (69)30,673 
SBA loan pool securities
12,335 395 (23)12,707 
Municipal bonds
5,381 450 — 5,831 
Total securities available-for-sale
$126,435 $2,661 $(114)$128,982 
December 31, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$38,793 $96 $(151)$38,738 
Residential collateralized mortgage obligations
44,115 36 (257)43,894 
SBA loan pool securities
14,179 34 (61)14,152 
Municipal bonds
764 18 — 782 
Total securities available-for-sale
$97,851 $184 $(469)$97,566 
Securities held-to-maturity:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities
$15,215 $70 $(81)$15,204 
Municipal bonds
4,939 337 — 5,276 
Total securities held-to-maturity
$20,154 $407 $(81)$20,480 
Debt Securities, Held-to-maturity
The following table presents the amortized cost and fair value of the investment securities as of the dates indicated:
($ in thousands)
Amortized Cost
Gross Unrealized GainGross Unrealized Loss
Fair Value
September 30, 2020
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$78,289 $1,504 $(22)$79,771 
Residential collateralized mortgage obligations
30,430 312 (69)30,673 
SBA loan pool securities
12,335 395 (23)12,707 
Municipal bonds
5,381 450 — 5,831 
Total securities available-for-sale
$126,435 $2,661 $(114)$128,982 
December 31, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$38,793 $96 $(151)$38,738 
Residential collateralized mortgage obligations
44,115 36 (257)43,894 
SBA loan pool securities
14,179 34 (61)14,152 
Municipal bonds
764 18 — 782 
Total securities available-for-sale
$97,851 $184 $(469)$97,566 
Securities held-to-maturity:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities
$15,215 $70 $(81)$15,204 
Municipal bonds
4,939 337 — 5,276 
Total securities held-to-maturity
$20,154 $407 $(81)$20,480 
Investments Classified by Contractual Maturity Date
The following table presents the amortized cost and fair value of the investment securities by contractual maturity as of September 30, 2020. Expected maturities may differ from contractual maturities, if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Securities Available-For-Sale
($ in thousands)
Amortized Cost
Fair Value
Within one year
$— $— 
One to five years
2,200 2,303 
Five to ten years
849 887 
Greater than ten years
2,332 2,641 
Residential mortgage-backed securities, residential collateralized mortgage obligations and SBA loan pool securities
121,054 123,151 
Total
$126,435 $128,982 
Realized Gain (Loss) on Investments
The following table presents proceeds from sales and calls of securities available-for-sale and the associated gross gains and
losses realized through earnings upon the sales and calls of securities available-for-sale for the periods indicated:
Three Months Ended September 30,
Nine Months Ended September 30,
($ in thousands)2020201920202019
Gross realized gains on sales and calls of securities available-for-sale$— $— $— $— 
Gross realized losses on sales and calls of securities available-for-sale— — — — 
Net realized gains (losses) on sales and calls of securities available-for-sale$— $— $— $— 
Proceeds from sales and calls of securities available-for-sale$185 $— $185 $— 
Tax expense on sales and calls of securities available-for-sale$— $— $— $— 
Schedule of Unrealized Loss on Investments
The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position as of the dates indicated:
Length of Time that Individual Securities Have Been In a Continuous Unrealized Loss Position
Less Than 12 Months12 Months or LongerTotal
($ in thousands)
Fair Value
Gross Unrealized Losses
Number of Securities
Fair Value
Gross Unrealized Losses
Number of Securities
Fair Value
Gross Unrealized Losses
Number of Securities
September 30, 2020
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$9,610 $(22)4 $— $— — $9,610 $(22)4 
Residential collateralized mortgage obligations
5,100 (7)5 7,691 (62)7 12,791 (69)12 
SBA loan pool securities
2,107 (6)3 1,718 (17)3 3,825 (23)6 
Total securities available-for-sale
$16,817 $(35)12 $9,409 $(79)10 $26,226 $(114)22 
December 31, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise securities:
Residential mortgage-backed securities
$5,401 $(28)5 $15,772 $(123)23 $21,173 $(151)28 
Residential collateralized mortgage obligations
15,392 (52)13 19,834 (205)23 35,226 (257)36 
SBA loan pool securities
4,787 (38)5 2,308 (23)4 7,095 (61)9 
Total securities available-for-sale
$25,580 $(118)23 $37,914 $(351)50 $63,494 $(469)73 
Securities held-to-maturity:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities
$— $— — $6,842 $(81)7 $6,842 $(81)7 
Total securities held-to-maturity
$— $— — $6,842 $(81)7 $6,842 $(81)7