Available-for-Sale Securities

9 Months Ended

Sep. 30, 2019

Investments Debt And Equity Securities [Abstract]

Available-for-Sale Securities

Note 3. Available-for-Sale Securities

The amortized cost and fair value of available-for-sale securities at September 30, 2019 and December 31, 2018 are summarized as follows:

	September 30, 2019
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
U.S. Government and Federal Agencies	$	20,927	$	—	$	(75	)	$	20,852
U.S. Treasury		29,960		—		(4	)		29,956
Mortgage-Backed Securities:
FNMA Certificates		567		—		(4	)		563
GNMA Certificates		583		12		—			595
	$	52,037	$	12	$	(83	)	$	51,966

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

	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

There were no securities classified as held-to-maturity as of September 30, 2019 and December 31, 2018. There were no securities sold for the three and nine months ended September 30, 2019. There were $3,748 securities sold in the three and nine months ended September 30, 2018. The Company purchased $30,000 of U.S. Treasury securities during the three months ended September 30, 2019.

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 September 30, 2019 and at December 31, 2018:

	September 30, 2019
	Securities With Gross Unrealized Losses
	Less Than 12 Months					12 Months or More					Total		Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
U.S. Government and Federal Agencies	$	—	$	—		$	20,852	$	(75	)	$	20,852	$	(75	)
U.S. Treasury		29,956		(4	)		—		—			29,956		(4	)
Mortgage-Backed
FNMA Certificates		—		—			563		(4	)		563		(4	)
	$	29,956	$	(4	)	$	21,415	$	(79	)	$	51,371	$	(83	)

	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		Losses			Value		Losses			Value		Losses
U.S. Government and Federal Agencies	$	—	$	—		$	20,515	$	(409	)	$	20,515	$	(409	)
U.S. Treasury		4,995		(2	)		—		—			4,995		(2	)
Mortgage-Backed
FNMA Certificates		—		—			759		(19	)		759		(19	)
	$	4,995	$	(2	)	$	21,274	$	(428	)	$	26,269	$	(430	)

The Company’s investment portfolio had 12 available-for-sale securities at September 30, 2019 and December 31, 2018. At September 30, 2019 and December 31, 2018, the Company had 11 securities, with gross unrealized loss positions. Management reviewed the financial condition of the entities underlying the securities at both September 30, 2019 and December 31, 2018 and determined that they are not other than temporarily impaired because the unrealized losses in those securities relate to market interest rate changes. The Company has the ability to hold them and does not have the intent to sell these securities, and it is not more likely than not that the Company will be required to sell these securities, before recovery of the cost basis. In addition, management also considers the issuers of the securities to be financially sound and believes the Company will receive all contractual principal and interest related to these investments.

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

The following is a summary of maturities of securities at September 30, 2019 and December 31, 2018. Amounts are shown by contractual maturity. Because borrowers 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.

	September 30, 2019
	Available-for-Sale
	Amortized		Fair
	Cost		Value
U.S. Government and Federal Agency Securities:
Amounts maturing:
Three months or less	$	34,515	$	34,505
After three months through one year		12,875		12,819
After one year through five years		3,497		3,484
		50,887		50,808
Mortgage-Backed Securities		1,150		1,158
Total	$	52,037	$	51,966
	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

   There were no securities pledged at September 30, 2019 and December 31, 2018.