Available for Sale Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

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

Amortized costs and fair values of available for sale securities are summarized as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
December 31, 2020	Cost		Gains		Losses			Fair Value
Obligations of states and political subdivisions	$	11,570	$	244	$	(11	)	$	11,803
Government-sponsored mortgage-backed securities		36,886		1,165		(12	)		38,039
Asset-backed securities		7,231		57		(7	)		7,281
Certificates of deposit		1,458		122		—			1,580
Total available for sale securities	$	57,145	$	1,588	$	(30	)	$	58,703

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
December 31, 2019	Cost		Gains		Losses			Fair Value
Obligations of states and political subdivisions	$	9,779	$	67	$	(20	)	$	9,826
Government-sponsored mortgage-backed securities		56,975		416		(357	)		57,034
Corporate collateralized mortgage obligations		284		5		—			289
Asset-backed securities		2,484		—		(19	)		2,465
Certificates of deposit		1,707		54		—			1,761
Total available for sale securities	$	71,229	$	542	$	(396	)	$	71,375

Summary of Gross Unrealized Losses on Securities Available-for-sale and Fair Values

The following table presents the portion of the Company’s portfolio which has gross unrealized losses, reflecting the length of time that individual securities have been in a continuous unrealized loss position:

	Less than 12 months					12 months or more					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
December 31, 2020	Value		Loss			Value		Loss			Value		Loss
Obligations of states and political subdivisions	$	4,235	$	(11	)	$	—	$	—		$	4,235	$	(11	)
Government-sponsored mortgage-backed securities		4,984		(12	)		—		—			4,984		(12	)
Asset-backed securities		—		—			638		(7	)		638		(7	)
Total	$	9,219	$	(23	)	$	638	$	(7	)	$	9,857	$	(30	)

	Less than 12 months					12 months or more					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
December 31, 2019	Value		Loss			Value		Loss			Value		Loss
Obligations of states and political subdivisions	$	2,052	$	(14	)	$	667	$	(6	)	$	2,719	$	(20	)
Government-sponsored mortgage-backed securities		15,830		(106	)		16,747		(251	)		32,577		(357	)
Asset-backed securities		2,394		(18	)		71		(1	)		2,465		(19	)
Total	$	20,276	$	(138	)	$	17,485	$	(258	)	$	37,761	$	(396	)

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

The amortized cost and fair value of available for sale securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities in mortgage-backed securities since the anticipated maturities are not readily determinable. Therefore, these securities are not included in the maturity categories in the following maturity summary listed below:

	December 31, 2020
	Amortized		Fair
	Cost		Value
Due in one year or less	$	1,239	$	1,255
Due after one through 5 years		5,217		5,419
Due after 5 through 10 years		1,326		1,435
Due after 10 years		5,246		5,274
Subtotal		13,028		13,383
Mortgage-related securities		36,886		38,039
Asset-backed securities		7,231		7,281
Total	$	57,145	$	58,703

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

The following is a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, for each of the periods listed below:

	Years ended December 31,
	2020		2019
Proceeds from sales of available for sale securities	$	19,515	$	—
Gross gains		1,023		—
Gross losses		—		—