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 investment securities available-for-sale at the dates indicated:

	September 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(Dollars in thousands)
Debt Securities:
U.S. Government Agencies	$	41,994	$	16	$	(178)	$	41,832
Obligations of States and Political Subdivisions	20,761		1,290		—		22,051
Mortgage-Backed Securities - Government-Sponsored Enterprises	88,735		4,049		—		92,784
Total Debt Securities	151,490		5,355		(178)		156,667
Marketable Equity Securities:
Mutual Funds							1,022
Other							1,267
Total Marketable Equity Securities							2,289
Total Available-for-Sale Securities							$	158,956

	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(Dollars in thousands)
Debt Securities:
U.S. Government Agencies	$	47,993	$	227	$	(164)	$	48,056
Obligations of States and Political Subdivisions	25,026		819		(2)		25,843
Mortgage-Backed Securities - Government-Sponsored Enterprises	118,282		2,601		(107)		120,776
Total Debt Securities	191,301		3,647		(273)		194,675
Marketable Equity Securities:
Mutual Funds							997
Other							1,713
Total Marketable Equity Securities							2,710
Total Available-for-Sale Securities							$	197,385

Schedule of Unrealized Loss on Investments

The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at the dates indicated:

	September 30, 2020
	Less than 12 months					12 Months or Greater					Total
	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
(Dollars in thousands)
U.S. Government Agencies	8	$	33,815	$	(178)	—	$	—	$	—	8	$	33,815	$	(178)
Total	8	$	33,815	$	(178)	—	$	—	$	—	8	$	33,815	$	(178)

	December 31, 2019
	Less than 12 months					12 Months or Greater					Total
	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
(Dollars in thousands)
U.S. Government Agencies	6	$	16,116	$	(83)	6	$	13,938	$	(81)	12	$	30,054	$	(164)
Obligations of States and Political Subdivisions	—	—		—		1	509		(2)		1	509		(2)
Mortgage Backed Securities- Government Sponsored Enterprises	7	20,003		(104)		1	1,711		(3)		8	21,714		(107)
Total	13	$	36,119	$	(187)	8	$	16,158	$	(86)	21	$	52,277	$	(273)

Investments Classified by Contractual Maturity Date

The following table presents the scheduled maturities of debt securities as of the date indicated:

	September 30, 2020
	Amortized Cost		Fair Value
(Dollars in thousands)
Due in One Year or Less	$	—	$	—
Due after One Year through Five Years	4,303		4,380
Due after Five Years through Ten Years	55,267		56,462
Due after Ten Years	91,920		95,825
Total	$	151,490	$	156,667

Schedule of Realized Gain (Loss)

The following table presents gross gain and loss of sales of available-for-sale investment securities for the periods indicated.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Debt Securities
Gross Gain	$	—	$	50	$	489	$	62
Gross Loss	—		(47)		—		(112)
Net Gain (Loss) on Sales of Investment Securities	$	—	$	3	$	489	$	(50)