Securities (Tables)

9 Months Ended

Sep. 30, 2019

Securities

Schedule of amortized cost and fair value of securities

	September 30, 2019
			Gross	Gross
	Amortized		unrealized	unrealized	Fair
(dollars in thousands)	cost		gains	losses	value
Securities available-for-sale:
U.S. asset backed securities	$	8,919	2	(39)	8,882
U.S. government agency mortgage-backed securities		12,843	103	(46)	12,900
U.S. government agency collateralized mortgage obligations		29,734	357	(130)	29,961
Investments in mutual funds		1,000	14	-	1,014
Total securities available-for-sale	$	52,496	476	(215)	52,757
Securities held to maturity:
State and municipal securities		8,814	214	—	9,028
Total securities held-to-maturity	$	8,814	214	—	9,028

	December 31, 2018
			Gross	Gross
	Amortized		unrealized	unrealized	Fair
(dollars in thousands)	cost		gains	losses	value
Securities available-for-sale:
U.S. government agency mortgage-backed securities	$	24,092	45	(271)	23,866
U.S. government agency collateralized mortgage obligations		14,754	52	(142)	14,664
State and municipal securities		11,096	22	(199)	10,919
Investments in mutual funds		1,000	—	(21)	979
Total securities available-for-sale	$	50,942	119	(633)	50,428
Securities held to maturity:
U.S. Treasuries	$	1,991	—	(13)	1,978
State and municipal securities		10,750	17	(90)	10,677
Total securities held-to-maturity	$	12,741	17	(103)	12,655

Schedule of investment unrealized loss in continuous unrealized loss position

	September 30, 2019
	Less than 12 Months			12 Months or more		Total
	Fair		Unrealized	Fair	Unrealized	Fair	Unrealized
(dollars in thousands)	value		losses	value	losses	value	losses
Securities available-for-sale:
U.S. asset backed securities		6,842	(39)	—	—	6,842	(39)
U.S. government agency mortgage-backed securities	$	1,926	(9)	3,177	(37)	5,103	(46)
U.S. government agency collateralized mortgage obligations		12,700	(88)	2,754	(42)	15,454	(130)
Total securities available-for-sale	$	21,468	(136)	5,931	(79)	27,399	(215)

	December 31, 2018
	Less than 12 Months			12 Months or more		Total
	Fair		Unrealized	Fair	Unrealized	Fair	Unrealized
(dollars in thousands)	value		losses	value	losses	value	losses
Securities available-for-sale:
U.S. government agency mortgage-backed securities	$	2,354	(6)	15,223	(265)	17,577	(271)
U.S. government agency collateralized mortgage obligations		2,636	(14)	5,620	(128)	8,256	(142)
State and municipal securities		957	(11)	8,746	(188)	9,703	(199)
Investments in mutual funds		980	(21)	—	—	980	(21)
Total securities available-for-sale	$	6,927	(52)	29,589	(581)	36,516	(633)
Securities held-to-maturity:
U.S. Treasuries	$	—	—	1,978	(13)	1,978	(13)
State and municipal securities		1,545	(5)	4,783	(85)	6,328	(90)
Total securities held-to-maturity	$	1,545	(5)	6,761	(98)	8,306	(103)

Schedule of amortized cost and fair value of held-to-maturity securities and available-for-sale securities by contractual maturity

	September 30, 2019					December 31, 2018
	Available-for-sale			Held-to-maturity		Available-for-sale			Held-to-maturity
	Amortized		Fair	Amortized	Fair	Amortized		Fair	Amortized	Fair
(dollars in thousands)	cost		value	cost	value	cost		value	cost	value
Investment securities:
Due in one year or less	$	—	—	—	—	$	906	902	1,991	1,978
Due after one year through five years		—	—	4,258	4,316		1,236	1,226	3,154	3,148
Due after five years through ten years		—	—	4,556	4,712		6,411	6,290	7,596	7,529
Due after ten years		8,919	8,882	—	—		2,543	2,501	—	—
Subtotal		8,919	8,882	8,814	9,028		11,096	10,919	12,741	12,655
Mortgage-related securities		42,577	42,861	—	—		38,846	38,530	—	—
Mutual funds with no stated maturity		1,000	1,014	—	—		1,000	979	—	—
Total	$	52,496	52,757	8,814	9,028	$	50,942	50,428	12,741	12,655