Available for Sale Securities (Tables)

12 Months Ended

Dec. 31, 2019

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, 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


		Gross	Gross
	Amortized	Unrealized	Unrealized	Estimated
December 31, 2018	Cost	Gains	Losses	Fair Value
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 available for sale securities	$ 67,900	$ 32	$ (2,201)	$65,731

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, 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)


	Less than 12 months		12 months or more		Total
	Fair	Unrealized	Fair	Unrealized	Fair	Unrealized
December 31, 2018	Value	Loss	Value	Loss	Value	Loss
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 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, 2019
	Amortized	Fair
	Cost	Value
Due in one year or less	$ 578	$ 578
Due after one through 5 years	6,417	6,482
Due after 5 through 10 years	3,161	3,209
Due after 10 years	1,330	1,318
Subtotal	11,486	11,587
Mortgage-related securities	57,259	57,323
Asset-backed securities	2,484	2,465
Total	$ 71,229	$ 71,375

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,

Proceeds from sales of available for sale securities

Gross gains

Gross losses