Investment Securities (Tables)

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

The following table summarizes the amortized cost and estimated fair value of securities available for sale at June 30, 2021 and December 31, 2020.


			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
(Dollars in thousands)
At June 30, 2021:
Mortgage backed securities	$	26,706	$	513	$	(97	)	$	27,122
Government agencies		2,375		37		—			2,412
Corporate bonds		31,306		574		(272	)		31,608

Total available for sale securities	$	60,387	$	1,124	$	(369	)	$	61,142

At December 31, 2020:
Mortgage backed securities	$	27,541	$	669	$	(17	)	$	28,193
Government agencies		2,418		—		(6	)		2,412
Corporate bonds		24,224		434		(170	)		24,488

Total available for sale securities	$	54,183	$	1,103	$	(193	)	$	55,093

Summary of available for sale securities and held to maturity securities continuous unrealized loss position fair value

The following table summarizes securities with unrealized losses at June 30, 2021 and December 31, 2020 aggregated by major security type and length of time in a continuous unrealized loss position.


	Less Than 12 Months					More Than 12 Months				Total
			Unrealized					Unrealized				Unrealized
(Dollars in thousands)	Fair Value		Losses			Fair Value		Losses		Fair Value		Losses
At June 30, 2021:
Mortgage backed securities	$	9,947	$	(97	)	$	—	$	—	$	9,947	$	(97	)
Government agencies		—		—			—		—		—		—
Corporate bonds		6,478		(272	)		—		—		6,478		(272	)

Total available for sale securities	$	16,425	$	(369	)	$	—	$	—	$	16,425	$	(369	)

At December 31, 2020:
Mortgage backed securities	$	4,481	$	(17	)	$	—	$	—	$	4,481	$	(17	)
Government agencies		2,412		(6	)		—		—		2,412		(6	)
Corporate bonds		7,830		(170	)		—		—		7,830		(170	)

Total available for sale securities	$	14,723	$	(193	)	$	—	$	—	$	14,723	$	(193	)

Summary of maturities available for sale investment securities

The following table summarizes the scheduled maturities of available for sale investment securities as of June 30, 2021.


	June 30, 2021
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Available for sale securities:
Less than one year	$	—	$	—
One to five years		14,131		14,372
Five to ten years		5,250		5,324
Beyond ten years		11,925		11,912
Securities not due at a single maturity date		29,081		29,534

Total available for sale securities	$	60,387	$	61,142