Mortgage-Backed Securities (Tables) - Mortgage-backed securities available for sale

6 Months Ended

Jun. 30, 2020

Mortgage-backed securities

Schedule of securities available for sale

Mortgage-backed securities available for sale at June 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
June 30, 2020:
Government pass-throughs:
Ginnie Mae	$	26,162	$	576	$	(34)	$	26,704
Fannie Mae		17,965		638		—		18,603
Freddie Mac		12,151		410		—		12,561
Private pass-throughs		19,352		26		(254)		19,124
Collateralized mortgage obligations		11,744		282		(31)		11,995
	$	87,374	$	1,932	$	(319)	$	88,987

December 31, 2019:
Government pass-throughs:
Ginnie Mae	$	21,386	$	188	$	(70)	$	21,504
Fannie Mae		20,537		258		—		20,795
Freddie Mac		13,986		134		(34)		14,086
Private pass-throughs		21,904		—		(301)		21,603
Collateralized mortgage obligations		13,406		110		(26)		13,490
	$	91,219	$	690	$	(431)	$	91,478

Schedule of contractual maturity

	Amortized Cost		Fair Value
Due after one year through five years	$	888	$	883
Due after five years through ten years		5,120		5,153
Due after ten years		81,366		82,951
Total Mortgage-Backed Securities	$	87,374	$	88,987

Schedule of fair value and gross unrealized losses on mortgage-backed securities and the length of time the securities have been in a continuous unrealized loss position

The following table presents the fair value and gross unrealized losses on mortgage-backed securities and the length of time that the securities have been in a continuous unrealized loss position at June 30, 2020 and December 31, 2019 (dollars in thousands):

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
June 30, 2020:
Government pass-throughs:
Ginnie Mae	$	4,671	$	(18)	$	1,713	$	(16)	$	6,384	$	(34)
Private pass-throughs		—		—		17,242		(254)		17,242		(254)
Collateralized mortgage obligations		4,456		(31)		—		—		4,456		(31)
Total	$	9,127	$	(49)	$	18,955	$	(270)	$	28,082	$	(319)

December 31, 2019:
Government pass-throughs:
Ginnie Mae	$	4,070	$	(27)	$	3,516	$	(43)	$	7,586	$	(70)
Freddie Mac		5,537		(34)		—		—		5,537		(34)
Private pass-throughs		2,060		(29)		19,197		(272)		21,257		(301)
Collateralized mortgage obligations		562		(2)		3,526		(24)		4,088		(26)
Total	$	12,229	$	(92)	$	26,239	$	(339)	$	38,468	$	(431)