Securities Available-for-sale (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Costs and Fair Value of Securities Available for Sale

The amortized costs and fair values of securities available-for-sale were as follows:

	September 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Obligations of states and political subdivisions	$	9,272	$	84	$	(7	)	$	9,349
Government-sponsored mortgage-backed securities		53,572		635		(203	)		54,004
Corporate collateralized mortgage obligations		322		7		—			329
Asset-backed securities		2,687		4		(1	)		2,690
Certificates of deposit		1,707		56		—			1,763
Total	$	67,560	$	786	$	(211	)	$	68,135
	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Obligations of states and political subdivisions	$	11,348	$	25	$	(204	)	$	11,169
Government-sponsored mortgage-backed securities		52,363		4		(1,992	)		50,375
Corporate collateralized mortgage obligations		410		1		(1	)		410
Asset-backed securities		3,530		2		(1	)		3,531
Certificates of deposit		249		—		(3	)		246
Total	$	67,900	$	32	$	(2,201	)	$	65,731

Summary of Amortized Costs and Fair Values of Securities Available-for-sale, by Contractual Maturity

The amortized costs and fair values of securities available-for-sale, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. In addition, expected maturities will differ from contractual maturities for mortgage-backed securities and asset-backed securities, as the expected repayment terms may be less than the underlying mortgage pool contractual maturities. Therefore, these securities are not included in the maturity categories in the maturity summary below.

	September 30, 2019
	Amortized Cost		Fair Value
	(in thousands)
Debt and other securities:
Due in one year or less	$	125	$	125
Due after one through 5 years		6,759		6,811
Due after 5 through 10 years		4,095		4,176
Due after 10 years		—		—
Mortgage-related securities		53,894		54,333
Asset-backed securities		2,687		2,690
Total	$	67,560	$	68,135

Summary of Gross Unrealized Losses on Securities Available-for-sale and Fair Values, Aggregated by Investment category and Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position

Gross unrealized losses on securities available-for-sale and the fair values of the related securities, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position were as follows:

	September 30, 2019
	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
Obligations of states and political subdivisions	$	—	$	—		$	2,028	$	(7	)	$	2,028	$	(7	)
Government-sponsored mortgage-backed securities		9,362		(33	)		18,154		(170	)		27,516		(203	)
Asset-backed securities		841		(1	)		—		—			841		(1	)
Total	$	10,203	$	(34	)	$	20,182	$	(177	)	$	30,385	$	(211	)
	December 31, 2018
	Less than 12 months					12 months or longer					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(in thousands)
Obligations of states and political subdivisions	$	1,567	$	(5	)	$	6,909	$	(199	)	$	8,476	$	(204	)
Government-sponsored mortgage-backed securities		29		—			49,549		(1,992	)		49,578		(1,992	)
Corporate collateralized mortgage obligations		204		—			147		(1	)		351		(1	)
Asset-backed securities		813		(1	)		—		—			813		(1	)
Certificates of deposit		—		—			246		(3	)		246		(3	)
Total	$	2,613	$	(6	)	$	56,851	$	(2,195	)	$	59,464	$	(2,201	)

Summary of Proceeds from Sales of Securities Available-for-sale, as well as Gross Gains and Losses

The following table provides a summary of the proceeds from sales of securities available-for-sale, as well as gross gains and losses, for the periods presented:

	Nine Months ended September 30,
	2019		2018
	(in thousands)
Proceeds from sales of securities available-for-sale	$	—	$	14,392
Gross realized gains		—		137
Gross realized losses		—		(70	)