SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2019

SECURITIES AVAILABLE FOR SALE

Schedule of carrying value and estimated fair value of securities available for sale

The carrying value and estimated fair value of securities available for sale are as follows (dollars in thousands):

	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
December 31, 2019
Corporate	$	20,779	$	160	$	(1)	$	20,938
US Agencies		14,450		47		(1)		14,496
US Agencies - MBS		34,063		492		(29)		34,526
Obligations of states and political subdivisions		37,382		630		—		38,012
Total securities available for sale	$	106,674	$	1,329	$	(31)	$	107,972
December 31, 2018
Corporate	$	20,198	$	24	$	(158)	$	20,064
US Agencies		16,198		5		(233)		15,970
US Agencies - MBS		32,974		124		(258)		32,840
Obligations of states and political subdivisions		47,828		341		(295)		47,874
Total securities available for sale	$	117,198	$	494	$	(944)	$	116,748

Schedule of securities with gross unrealized losses aggregated by investment category and length of time these individual securities have been in a loss position

Following is information pertaining to securities with gross unrealized losses at December 31, 2019 and 2018 aggregated by investment category and length of time these individual securities have been in a loss position (dollars in thousands):

	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
December 31, 2019
Corporate	$	(1)	$	2,502	$	—	$	—
US Agencies		—		—		(1)		500
US Agencies - MBS		(9)		6,966		(19)		1,233
Obligations of states and political subdivisions		—		—		(1)		115
Total securities available for sale	$	(10)	$	9,468	$	(21)	$	1,848
December 31, 2018
Corporate		(50)	$	4,969	$	(108)	$	11,876
US Agencies		—		504		(233)		14,439
US Agencies - MBS		(73)		3,903		(185)		6,908
Obligations of states and political subdivisions		(29)		5,812		(266)		9,533
Total securities available for sale	$	(152)	$	15,188	$	(792)	$	42,756

The following is information pertaining to securities with gross unrealized losses at December 31, 2019 and 2018 (dollars in thousands):

	Less Than Twelve Months						Over Twelve Months						Total
	Number				Gross		Number				Gross		Number				Gross
	of		Fair		Unrealized		of		Fair		Unrealized		of		Fair		Unrealized
December 31, 2019	Securities		Value		Loss		Securities		Value		Loss		Securities		Value		Loss
Corporate		1	$	2,502	$	(1)		—	$	—	$	—		1	$	2,502	$	(1)
US Agencies		—		—		—		1		500		(1)		1		500		(1)
US Agencies - MBS		10		6,966		(9)		13		1,233		(19)		23		8,199		(28)
Obligations of states and political subdivisions		—		—		—		1		115		(1)		1		115		(1)
Total		11	$	9,468	$	(10)		15	$	1,848	$	(21)		26	$	11,316	$	(31)

	Less Than Twelve Months						Over Twelve Months						Total
	Number				Gross		Number				Gross		Number				Gross
	of		Fair		Unrealized		of		Fair		Unrealized		of		Fair		Unrealized
December 31, 2018	Securities		Value		Loss		Securities		Value		Loss		Securities		Value		Loss
Corporate		3	$	4,969	$	(50)		5	$	11,876	$	(108)		8	$	16,845	$	(158)
US Agencies		1		504		—		6		14,439		(233)		7		14,943		(233)
US Agencies - MBS		20		3,903		(73)		33		6,908		(185)		53		10,811		(258)
Obligations of states and political subdivisions		19		5,812		(29)		45		9,533		(266)		64		15,345		(295)
Total		43	$	15,188	$	(152)		89	$	42,756	$	(792)		132	$	57,944	$	(944)

Summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses

Following is a summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses for the years ended December 31 (dollars in thousands):

	2019		2018
Proceeds from sales and calls	$	5,805	$	48,649
Gross gains on sales and calls		208		—
Gross (losses) on sales and calls		—		—

Schedule of amortized cost and estimated fair value sore investment securities by contractual maturity

The carrying value and estimated fair value of securities available for sale at December 31, 2019, by contractual maturity, are shown below (dollars in thousands):

	Amortized		Estimated
	Cost		Fair Value
Due in one year or less	$	21,532	$	21,575
Due after one year through five years		40,063		40,664
Due after five years through ten years		10,019		10,189
Due after ten years		997		1,018
Subtotal		72,611		73,446
US Agencies - MBS		34,063		34,526
Total	$	106,674	$	107,972