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Available-for-Sale Securities (Tables)
12 Months Ended
Dec. 31, 2018
Investments Debt And Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Available-for-Sale Securities

The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale securities at December 31, 2018 and 2017 are summarized as follows:

 

 

 

December 31, 2018

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

U.S. Government and Federal Agencies

 

$

20,924

 

 

$

 

 

$

(409

)

 

$

20,515

 

U.S Treasury

 

 

4,997

 

 

 

 

 

 

(2

)

 

 

4,995

 

Mortgage-Backed Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

778

 

 

 

 

 

 

(19

)

 

 

759

 

GNMA Certificates

 

 

870

 

 

 

5

 

 

 

 

 

 

875

 

 

 

$

27,569

 

 

$

5

 

 

$

(430

)

 

$

27,144

 

 

 

 

December 31, 2017

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Fair Value

 

U.S. Government and Federal Agencies

 

$

24,911

 

 

$

 

 

$

(359

)

 

$

24,552

 

Mortgage-Backed Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

1,118

 

 

 

 

 

 

(15

)

 

 

1,103

 

GNMA Certificates

 

 

3,205

 

 

 

38

 

 

 

(1

)

 

 

3,242

 

 

 

$

29,234

 

 

$

38

 

 

$

(375

)

 

$

28,897

 

Company's Securities' Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position

The following tables present the Company's securities' gross unrealized losses and fair values, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at December 31, 2018 and 2017:

 

 

 

December 31, 2018

 

 

 

Securities With Gross Unrealized Losses

 

 

 

Less Than

12 Months

 

 

12 Months or More

 

 

Total

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

U.S. Government and Federal Agencies

 

$

 

 

$

 

 

$

20,515

 

 

$

(409

)

 

$

20,515

 

 

$

(409

)

US Treasury

 

 

4,995

 

 

 

(2

)

 

 

 

 

 

 

 

 

 

 

4,995

 

 

 

(2

)

Mortgage-Backed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

 

 

 

 

 

 

759

 

 

 

(19

)

 

 

759

 

 

 

(19

)

GNMA Certificates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,995

 

 

$

(2

)

 

$

21,274

 

 

$

(428

)

 

$

26,269

 

 

$

(430

)

 

 

 

 

December 31, 2017

 

 

 

Securities With Gross Unrealized Losses

 

 

 

Less Than

12 Months

 

 

12 Months or More

 

 

Total

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

U.S. Government and Federal Agencies

 

$

 

 

$

 

 

$

24,552

 

 

$

(359

)

 

$

24,552

 

 

$

(359

)

Mortgage-Backed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNMA Certificates

 

 

1,094

 

 

 

(15

)

 

 

 

 

 

 

 

 

1,094

 

 

 

(15

)

GNMA Certificates

 

 

1,205

 

 

 

(1

)

 

 

 

 

 

 

 

 

1,205

 

 

 

(1

)

 

 

$

2,299

 

 

$

(16

)

 

$

24,552

 

 

$

(359

)

 

$

26,851

 

 

$

(375

)

Summary of Maturities of Securities

Note 3. Available-for-Sale-Securities (Continued)

The following is a summary of maturities of securities at December 31, 2018 and 2017. Amounts are shown by contractual maturity. Because borrowers of the underlying collateral for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table.

 

 

 

December 31, 2018

 

 

 

Available-for-Sale

 

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

U.S. Government and Federal Agency Securities:

 

 

 

 

 

 

 

 

Amounts maturing:

 

 

 

 

 

 

 

 

Three months or less

 

$

4,997

 

 

$

4,995

 

After three months through one year

 

 

4,554

 

 

 

4,497

 

After one year through five years

 

 

16,370

 

 

 

16,018

 

 

 

 

25,921

 

 

 

25,510

 

Mortgage-Backed Securities

 

 

1,648

 

 

 

1,634

 

Total

 

$

27,569

 

 

$

27,144

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2017

 

 

 

Available-for-Sale

 

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

U.S. Government and Federal Agency Securities:

 

 

 

 

 

 

 

 

Amounts maturing:

 

 

 

 

 

 

 

 

Three months or less

 

$

 

 

$

 

After three months through one year

 

 

1,990

 

 

 

1,977

 

After one year through five years

 

 

22,921

 

 

 

22,575

 

 

 

 

24,911

 

 

 

24,552

 

Mortgage-Backed Securities

 

 

4,323

 

 

 

4,345

 

Total

 

$

29,234

 

 

$

28,897