Investment Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments Debt And Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities

The following table summarizes the amortized cost and fair value of available for sale (“AFS”) securities and held to maturity (“HTM”) securities at December 31, 2019 and 2018, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

			Gross		Gross
(dollars in thousands)	Amortized		Unrealized		Unrealized			Fair
December 31, 2019	Cost		Gains		Losses			Value
Available for sale
Government agency securities	$	1,591	$	—	$	(19	)	$	1,572
SBA agency securities		4,671		42		(22	)		4,691
Mortgage-backed securities- Government sponsored agencies		19,126		74		(29	)		19,171
Collateralized mortgage obligations		11,641		38		(25	)		11,654
Corporate debt securities		88,700		281		—			88,981
Total	$	125,729	$	435	$	(95	)	$	126,069
Held to maturity
Municipal taxable securities	$	3,505	$	147	$	—		$	3,652
Municipal securities		4,827		153		—			4,980
Total	$	8,332	$	300	$	—		$	8,632
December 31, 2018
Available for sale
Government agency securities	$	1,873	$	—	$	(58	)	$	1,815
SBA agency securities		5,354		—		(185	)		5,169
Mortgage-backed securities- Government sponsored agencies		23,125		—		(584	)		22,541
Collateralized mortgage obligations		12,696		1		(631	)		12,066
Corporate debt securities		32,615		105		(549	)		32,171
Total	$	75,663	$	106	$	(2,007	)	$	73,762
Held to maturity
Municipal taxable securities	$	4,290	$	142	$	—		$	4,432
Municipal securities		5,671		1		(164	)		5,508
Total	$	9,961	$	143	$	(164	)	$	9,940

Amortized Cost and Fair Value of Investment Securities Portfolio Expected Maturity

The amortized cost and fair value of the investment securities portfolio as of December 31, 2019 are shown by expected maturity below.  Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.  

	Less than One Year				More than One Year to Five Years				More than Five Years to Ten Years				More than Ten Years				Total
	Amortized		Estimated		Amortized		Estimated		Amortized		Estimated		Amortized		Estimated		Amortized		Estimated
(dollars in thousands)	Cost		Fair Value		Cost		Fair Value		Cost		Fair Value		Cost		Fair Value		Cost		Fair Value
December 31, 2019
Government agency securities	$	—	$	—	$	1,591	$	1,572	$	—	$	—	$	—	$	—	$	1,591	$	1,572
SBA securities		—		—		714		725		3,957		3,966		—		—		4,671		4,691
Mortgage-backed securities-    Government sponsored agencies		3,663		3,679		13,027		13,059		2,436		2,433		—		—		19,126		19,171
Collateralized mortgage obligations		—		—		9,288		9,265		2,353		2,389		—		—		11,641		11,654
Corporate debt securities		70,914		70,919		2,002		2,008		11,772		12,024		4,012		4,030		88,700		88,981
Total available for sale	$	74,577	$	74,598	$	26,622	$	26,629	$	20,518	$	20,812	$	4,012	$	4,030	$	125,729	$	126,069
Municipal taxable securities	$	285	$	289	$	2,716	$	2,784	$	504	$	579	$	—	$	—	$	3,505	$	3,652
Municipal securities		—		—		40		40		366		379		4,421		4,561		4,827		4,980
Total held to maturity	$	285	$	289	$	2,756	$	2,824	$	870	$	958	$	4,421	$	4,561	$	8,332	$	8,632

Summary of Investment Securities With Unrealized Losses

The following table summarizes investment 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:

	Less than Twelve Months							Twelve Months or More							Total
(dollars in thousands)	Unrealized Losses			Estimated Fair Value		No. of Issuances		Unrealized Losses			Estimated Fair Value		No. of Issuances		Unrealized Losses			Estimated Fair Value		No. of Issuances
December 31, 2019
Government agency securities	$	(19	)	$	1,572		2	$	—		$	—		—	$	(19	)	$	1,572		2
SBA securities		(22	)		1,469		2		—			—		—		(22	)		1,469		2
Mortgage-backed securities- Government    sponsored agencies		(5	)		2,631		4		(24	)		3,912		6		(29	)		6,543		10
Collateralized mortgage obligations		(10	)		5,738		3		(15	)		953		2		(25	)		6,691		5
Corporate debt securities		—			—		—		—			—		—		—			—		—
Total available for sale	$	(56	)	$	11,410		11	$	(39	)	$	4,865		8	$	(95	)	$	16,275		19
December 31, 2018
Government agency securities	$	—		$	—		—	$	(58	)	$	1,815		2	$	(58	)	$	1,815		2
SBA securities		—			—		—		(185	)		5,169		4		(185	)		5,169		4
Mortgage-backed securities- Government    sponsored agencies		(12	)		1,640		1		(572	)		20,901		23		(584	)		22,541		24
Collateralized mortgage obligations		—			—		—		(631	)		12,065		8		(631	)		12,065		8
Corporate debt securities		(61	)		4,600		4		(488	)		6,548		4		(549	)		11,148		8
Total available for sale	$	(73	)	$	6,240		5	$	(1,934	)	$	46,498		41	$	(2,007	)	$	52,738		46
Municipal securities	$	(104	)	$	2,468		6	$	(60	)	$	2,174		4	$	(164	)	$	4,642		10
Total held to maturity	$	(104	)	$	2,468		6	$	(60	)	$	2,174		4	$	(164	)	$	4,642		10