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Available for Sale Securities (Tables)
12 Months Ended
Dec. 31, 2021
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
 
  
 
 
December 31, 2021
  
Cost
 
  
Gains
 
  
Losses
 
  
Fair Value
 
U.S. Treasury notes
   $ 19,501      $ 8      $  (25 )     $ 19,484  
Obligations of states and political subdivisions
     20,758        207        (205 )       20,760  
Government-sponsored mortgage-backed securities
     64,049        563        (463 )       64,149  
Asset-backed securities
     6,479        45        (1 )       6,523  
Certificates of deposit
     1,459        65        —          1,524  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 112,246      $ 888      $ (694 )     $ 112,440  
    
 
 
    
 
 
    
 
 
    
 
 
 
 
 
  
 
 
  
Gross
 
  
Gross
 
  
 
 
 
  
Amortized
 
  
Unrealized
 
  
Unrealized
 
  
 
 
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
   $ 57,145      $ 1,588      $ (30 )     $ 58,703  
    
 
 
    
 
 
    
 
 
    
 
 
 
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 longer
 
 
Total
 
 
  
Fair
 
  
Unrealized
 
 
Fair
 
  
Unrealized
 
 
Fair
 
  
Unrealized
 
December 31, 2021
  
Value
 
  
Loss
 
 
Value
 
  
Loss
 
 
Value
 
  
Loss
 
U.S. Treasury notes
   $ 12,971      $ (25 )    $ —        $ —       $ 12,971      $ (25 ) 
Obligations of states and political subdivisions
     5,414        (82 )      4,105        (123 )      9,519        (205 ) 
Government-sponsored mortgage-backed securities
     39,392        (463 )      —          —         39,392        (463 ) 
Asset-backed securities
     808        (1 )      —          —         808        (1 ) 
    
 
 
    
 
 
   
 
 
    
 
 
   
 
 
    
 
 
 
Total
   $ 58,585      $ (571 )    $ 4,105      $ (123 )    $ 62,690      $ (694 ) 
    
 
 
    
 
 
   
 
 
    
 
 
   
 
 
    
 
 
 
 
 
  
Less than 12 months
 
 
12 months or longer
 
 
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
) 
 
  
 
 
 
  
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
  
 
 
 
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, 2021
 
 
  
Amortized
 
  
Fair
 
 
  
Cost
 
  
Value
 
Debt and other securities:
  
     
  
     
Due in one year or less
   $ 1,505      $ 1,512  
Due after one through 5 years
     13,901        13,982  
Due after 5 through 10 years
     14,812        14,822  
Due after 10 years
     11,500        11,452  
    
 
 
    
 
 
 
Total debt and other securities
     41,718        41,768  
Mortgage-related securities
     64,049        64,149  
Asset-backed securities
     6,479        6,523  
    
 
 
    
 
 
 
Total
   $ 112,246      $ 112,440  
    
 
 
    
 
 
 
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,
 
 
  
2021
 
  
2020
 
Proceeds from sales of securities
available-for-sale
   $ 1,018      $ 19,515  
Gross realized gains
     12        1,023  
Gross realized losses
     —          —