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Available for Sale Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Available for Sale Securities  
Schedule of Amortized Costs and Fair Values of Available for Sale Securities

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

Gross 

    

Gross 

    

Estimated 

 

 

Amortized

 

Unrealized 

 

Unrealized 

 

Fair 

 

 

 Cost

 

Gains

 

Losses

 

Value

March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the US government and US government sponsored agencies

 

$

866

 

$

22

 

$

 —

 

$

888

Obligations of states and political subdivisions

 

 

10,957

 

 

205

 

 

(28)

 

 

11,134

Mortgage-backed securities

 

 

39,222

 

 

1,312

 

 

(60)

 

 

40,474

Certificates of deposit

 

 

750

 

 

25

 

 

 —

 

 

775

Corporate debt securities

 

 

1,801

 

 

10

 

 

(19)

 

 

1,792

Total available for sale securities

 

$

53,596

 

$

1,574

 

$

(107)

 

$

55,063

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

  

 

 

  

 

 

  

 

 

  

Obligations of the US government and US government sponsored agencies

 

$

944

 

$

14

 

$

 —

 

$

958

Obligations of states and political subdivisions

 

 

8,590

 

 

36

 

 

(21)

 

 

8,605

Mortgage-backed securities

 

 

35,095

 

 

486

 

 

(99)

 

 

35,482

Certificates of deposit

 

 

1,000

 

 

17

 

 

 —

 

 

1,017

Corporate debt securities

 

 

2,080

 

 

37

 

 

 —

 

 

2,117

Total available for sale securities

 

$

47,709

 

$

590

 

$

(120)

 

$

48,179

 

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

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

 

 

 

 

Unrealized

 

 

 

Unrealized 

 

 

 

Unrealized 

 

 

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of states and political subdivisions

 

$

1,638

 

$

(27)

 

$

1,052

 

$

(1)

 

$

2,690

 

$

(28)

Mortgage-backed securities

 

 

3,982

 

 

(53)

 

 

683

 

 

(7)

 

 

4,665

 

 

(60)

Corporate debt securities

 

 

1,014

 

 

(19)

 

 

 —

 

 

 —

 

 

1,014

 

 

(19)

Total

 

$

6,634

 

$

(99)

 

$

1,735

 

$

(8)

 

$

8,369

 

$

(107)

December 31, 2019

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Obligations of states and political subdivisions

 

$

2,569

 

$

(17)

 

$

1,059

 

$

(4)

 

$

3,628

 

$

(21)

Mortgage-backed securities

 

 

7,604

 

 

(57)

 

 

4,372

 

 

(42)

 

 

11,976

 

 

(99)

Total

 

$

10,173

 

$

(74)

 

$

5,431

 

$

(46)

 

$

15,604

 

$

(120)

 

Investments Classified by Contractual Maturity Date

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:

 

 

 

 

 

 

 

 

 

    

March 31, 2020

 

 

Amortized Cost

    

Fair Value

Due in one year or less

 

$

1,020

 

$

1,019

Due after one year through 5 years

 

 

2,708

 

 

2,731

Due after 5 years through 10 years

 

 

4,525

 

 

4,660

Due after 10 years

 

 

6,121

 

 

6,179

Subtotal

 

$

14,374

 

$

14,589

Mortgage-backed securities

 

 

39,222

 

 

40,474

Total

 

$

53,596

 

$

55,063