Securities (Tables)

3 Months Ended

Mar. 31, 2020

Securities

Schedule of amortized cost and fair value of securities

	March 31, 2020
			Gross	Gross
	Amortized		unrealized	unrealized	Fair
(dollars in thousands)	cost		gains	losses	value
Securities available-for-sale:
U.S. asset backed securities	$	21,224	11	(574)	20,661
U.S. government agency mortgage-backed securities		7,888	245	(1)	8,132
U.S. government agency collateralized mortgage obligations		36,953	682	(293)	37,342
State and municipal securities		23,974	459	(16)	24,417
Total securities available-for-sale	$	90,039	1,397	(884)	90,552
Securities held to maturity:
State and municipal securities		7,747	199	—	7,946
Total securities held-to-maturity	$	7,747	199	—	7,946

	December 31, 2019
			Gross	Gross
	Amortized		unrealized	unrealized	Fair
(dollars in thousands)	cost		gains	losses	value
Securities available-for-sale:
U.S. asset backed securities	$	11,967	—	(101)	11,866
U.S. government agency mortgage-backed securities		5,457	66	(26)	5,497
U.S. government agency collateralized mortgage obligations		35,096	300	(173)	35,223
State and municipal securities		6,354	—	(84)	6,270
Total securities available-for-sale	$	58,874	366	(384)	58,856
Securities held to maturity:
State and municipal securities		8,780	223	—	9,003
Total securities held-to-maturity	$	8,780	223	—	9,003

Schedule of investment gross unrealized loss in continuous unrealized loss position

	March 31, 2020
	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	$	19,304	(574)	—	—	19,304	(574)
U.S. government agency mortgage-backed securities		43	(1)	—	—	43	(1)
U.S. government agency collateralized mortgage obligations		11,944	(205)	2,890	(88)	14,834	(293)
State and municipal securities		5,156	(16)	—	—	5,156	(16)
Total securities available-for-sale	$	36,447	(796)	2,890	(88)	39,337	(884)

	December 31, 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	$	11,866	(101)	—	—	11,866	(101)
U.S. government agency mortgage-backed securities		—	—	1,636	(26)	1,636	(26)
U.S. government agency collateralized mortgage obligations		16,283	(116)	3,108	(57)	19,391	(173)
State and municipal securities		6,270	(84)	—	—	6,270	(84)
Total securities available-for-sale	$	34,419	(301)	4,744	(83)	39,163	(384)

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

	March 31, 2020					December 31, 2019
	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	$	—	—	—	—	$	—	—	—	—
Due after one year through five years		—	—	3,227	3,285		—	—	4,242	4,311
Due after five years through ten years		2,299	2,288	4,520	4,661		1,329	1,324	4,538	4,692
Due after ten years		42,899	42,790	—	—		16,992	16,812	—	—
Subtotal		45,198	45,078	7,747	7,946		18,321	18,136	8,780	9,003
Mortgage-related securities		44,841	45,474	—	—		40,553	40,720	—	—
Total	$	90,039	90,552	7,747	7,946	$	58,874	58,856	8,780	9,003