Investments (Tables)

6 Months Ended

Jun. 30, 2021

Investments Debt And Equity Securities [Abstract]

Schedule of Available-for-sale Securities

The cost or amortized cost, gross unrealized gains or losses, and estimated fair value of the investments in securities classified as available for sale at June 30, 2021 and December 31, 2020, were as follows (dollars in thousands):

	June 30, 2021
	Cost or		Gross Unrealized					Estimated
	Amortized Cost		Gains		Losses			Fair Value
Debt Securities:
U.S. Government	$	21,936	$	148	$	(27	)	$	22,057
State and local government		31,467		778		(74	)		32,171
Corporate debt		19,989		162		(208	)		19,943
Asset-backed securities		31,691		28		(92	)		31,627
Mortgage-backed securities		34,811		145		(499	)		34,457
Commercial mortgage-backed securities		1,844		62		—			1,906
Collateralized mortgage obligations		6,961		90		(24	)		7,027
Total debt securities available for sale	$	148,699	$	1,413	$	(924	)	$	149,188

	December 31, 2020
	Cost or		Gross Unrealized					Estimated
	Amortized Cost		Gains		Losses			Fair Value
Debt Securities:
U.S. Government	$	30,743	$	225	$	(1	)	$	30,967
State and local government		32,253		1,040		(28	)		33,265
Corporate debt		19,015		311		(23	)		19,303
Asset-backed securities		20,987		49		(73	)		20,963
Mortgage-backed securities		38,512		345		(3	)		38,854
Commercial mortgage-backed securities		2,083		65		(22	)		2,126
Collateralized mortgage obligations		6,361		161		(1	)		6,521
Total debt securities available for sale	$	149,954	$	2,196	$	(151	)	$	151,999

Schedule Of Unrealized Loss On Investments

The following table summarizes the aggregate fair value and gross unrealized losses, by security type, of the available-for-sale securities in unrealized loss positions. The table segregates the holdings based on the length of time that individual securities have been in a continuous unrealized loss position (dollars in thousands):

	June 30, 2021
	Less than 12 months							Greater than 12 months							Total
	No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses
Debt Securities:
U.S. Government		5	$	10,610	$	(27	)		—	$	—	$	—			5	$	10,610	$	(27	)
State and local government		35		6,081		(74	)		—		—		—			35		6,081		(74	)
Corporate debt		17		10,853		(208	)		—		—		—			17		10,853		(208	)
Asset-backed securities		13		16,064		(89	)		5		3,906		(3	)		18		19,970		(92	)
Mortgage-backed securities		8		28,500		(499	)		—		—		—			8		28,500		(499	)
Commercial mortgage-backed securities		—		—		—			—		—		—			—		—		—
Collateralized mortgage obligations		8		2,473		(23	)		1		51		(1	)		9		2,524		(24	)
Total debt securities available for sale		86	$	74,581	$	(920	)		6	$	3,957	$	(4	)		92	$	78,538	$	(924	)

	December 31, 2020
	Less than 12 months							Greater than 12 months							Total
	No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses			No. of Issues		Fair Value of Investments with Unrealized Losses		Gross Unrealized Losses
Debt Securities:
U.S. Government		2	$	6,764	$	(1	)		—	$	—	$	—			2	$	6,764	$	(1	)
State and local government		16		3,905		(28	)		—		—		—			16		3,905		(28	)
Corporate debt		2		1,051		(23	)		—		—		—			2		1,051		(23	)
Asset-backed securities		7		6,050		(34	)		11		6,551		(39	)		18		12,601		(73	)
Mortgage-backed securities		2		1,652		(3	)		—		—		—			2		1,652		(3	)
Commercial mortgage-backed securities		1		899		(22	)		—		—		—			1		899		(22	)
Collateralized mortgage obligations		2		195		(1	)		—		—		—			2		195		(1	)
Total debt securities available for sale		32	$	20,516	$	(112	)		11	$	6,551	$	(39	)		43	$	27,067	$	(151	)

Schedule of Investment Income and Losses

The Company’s sources of net investment income and losses are as follows (dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Debt securities	$	554		$	929		$	1,154		$	1,796
Equity securities		55			53			103			108
Cash, cash equivalents and short-term investments		—			24			1			143
Total investment income		609			1,006			1,258			2,047
Investment expenses		(106	)		(143	)		(223	)		(230	)
Net investment income	$	503		$	863		$	1,035		$	1,817

Schedule of Gross Realized Gains and Losses on Securities

The following table summarizes the gross realized gains and losses from sales, calls and maturities of available-for-sale debt and equity securities (dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Debt securities:
Gross realized gains	$	—		$	—		$	27		$	720
Gross realized losses		—			—			(6	)		(4	)
Total debt securities		—			—			21			716
Equity securities:
Gross realized gains		1,105			604			4,008			948
Gross realized losses		(45	)		(359	)		(45	)		(491	)
Total equity securities		1,060			245			3,963			457
Total net realized investment gains (losses)	$	1,060		$	245		$	3,984		$	1,173

Summary of Amortized Cost and Fair Value of Securities

The table below summarizes the amortized cost and fair value of available-for-sale debt securities by contractual maturity at June 30, 2021.  Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties (dollars in thousands):

	Amortized Cost		Estimated Fair Value
Due in one year or less	$	13,861	$	13,944
Due after one year through five years		26,881		27,319
Due after five years through ten years		15,191		15,234
Due after ten years		17,459		17,674
Securities with contractual maturities		73,392		74,171
Asset-backed securities		31,691		31,627
Mortgage-backed securities		34,811		34,457
Commercial mortgage-backed securities		1,844		1,906
Collateralized mortgage obligations		6,961		7,027
Total debt securities	$	148,699	$	149,188