Available for Sale Securities (Tables)

9 Months Ended

Sep. 30, 2022

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
September 30, 2022
Obligations of the US government and US government sponsored agencies	$	1,823	$	-	$	(170)	$	1,653
Obligations of states and political subdivisions		14,163		-		(1,847)		12,316
Mortgage-backed securities		25,442		-		(2,076)		23,366
Certificates of deposit		500		3		(12)		491
Corporate debt securities		10,307		-		(661)		9,646
Total available for sale securities	$	52,235	$	3	$	(4,766)	$	47,472
December 31, 2021
Obligations of the US government and US government sponsored agencies	$	1,028	$	19	$	(7)	$	1,040
Obligations of states and political subdivisions		14,289		376		(41)		14,624
Mortgage-backed securities		25,452		658		(54)		26,056
Certificates of deposit		750		22		-		772
Corporate debt securities		5,821		111		(26)		5,906
Total available for sale securities	$	47,340	$	1,186	$	(128)	$	48,398

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
September 30, 2022
Obligations of the US government and US government sponsored agencies	$	1,207	$	(98)	$	431	$	(72)	$	1,638	$	(170)
Obligations of states and political subdivisions		9,146		(1,166)		2,881		(681)		12,027		(1,847)
Mortgage-backed securities		20,484		(1,741)		2,881		(335)		23,365		(2,076)
Certificates of deposit		238		(12)		—		—		238		(12)
Corporate debt securities		7,752		(531)		1,270		(130)		9,022		(661)
Total	$	38,827	$	(3,548)	$	7,463	$	(1,218)	$	46,290	$	(4,766)
December 31, 2021
Obligations of the US government and US government sponsored agencies	$	497	$	(7)	$	—	$	—	$	497	$	(7)
Obligations of states and political subdivisions		3,129		(10)		937		(31)	$	4,066		(41)
Mortgage-backed securities		4,116		(24)		1,881		(30)		5,997		(54)
Corporate debt securities		2,874		(26)		—		—		2,874		(26)
Total	$	10,616	$	(67)	$	2,818	$	(61)	$	13,434	$	(128)

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:

	September 30, 2022
	Amortized Cost		Fair Value
Due in one year or less	$	292	$	295
Due after one year through 5 years		9,667		9,179
Due after 5 years through 10 years		11,751		10,502
Due after 10 years		5,083		4,130
Subtotal	$	26,793	$	24,106
Mortgage-backed securities		25,442		23,366
Total	$	52,235	$	47,472