Securities (Tables)

3 Months Ended

Mar. 31, 2020

The amortized cost and fair value of securities available for sale as of March 31, 2020 and December 31, 2019, by contractual maturity, are shown in the tables below. Expected maturities may differ from contractual maturities because the securities may be called or prepaid with or without prepayment penalties.


(Dollars in thousands)	March 31, 2020
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Type and Maturity
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	6,000	$	6,015	$	15	$	—
After five years but within ten years		4,000		4,030		30		—
		10,000		10,045		45		—
Obligations of state and political subdivisions
Within one year		850		853		3		—
After one year but within five years		2,808		2,823		15		—
After five years but within ten years		2,790		2,936		146		—
		6,448		6,612		164		—
Corporate debt securities
Within one year		1,023		1,035		12		—
		1,023		1,035		12		—
Mortgage-backed securities		177,584		182,946		5,363		(1)
Total	$	195,055	$	200,638	$	5,584	$	(1)


(Dollars in thousands)	December 31, 2019
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Type and Maturity
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	14,998	$	14,970	$	1	$	(29)
After five years but within ten years		6,000		5,950		—		(50)
		20,998		20,920		1		(79)
Obligations of state and political subdivisions
Within one year		1,020		1,024		4		—
After one year but within five years		2,810		2,823		13		—
After five years but within ten years		723		728		5		—
		4,553		4,575		22		—
Mortgage-backed securities		184,488		185,191		1,132		(429)
Total	$	210,039	$	210,686	$	1,155	$	(508)

Summary of Proceeds and Realized Gain/(Loss)

The following table summarizes proceeds received from sales or calls of available for sale investment securities transactions and the resulting realized gains and losses during the three months ended March 31, 2020 and 2019.


(Dollars in thousands)	Three Months Ended
	March 31,
	2020		2019
Gross proceeds from sales and calls of securities	$	15,704	$	11,107
Securities available for sale:
Gross realized gains from sold and called securities	$	41	$	5
Gross realized losses from sold and called securities		(30)		(61)
Net losses from sales and calls of securities	$	11	$	(56)

Schedule of Gross Unrealized Losses and Fair Value

The following tables show gross unrealized losses and fair values of debt securities available for sale, aggregated by category and length of time the individual securities have been in a continuous unrealized loss position at March 31, 2020 and December 31, 2019:


	Unrealized Losses at March 31, 2020
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Mortgage-backed securities	2	$	1,186	$	(1)	—	$	—	$	—	2	$	1,186	$	(1)
Total temporarily impaired securities	2	$	1,186	$	(1)	—	$	—	$	—	2	$	1,186	$	(1)


	Unrealized Losses at December 31, 2019
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Obligations of U.S. Government sponsored enterprises	9	$	16,919	$	(79)	—	$	—	$	—	9	$	16,919	$	(79)
Mortgage-backed securities	13		47,466		(204)	16		22,049		(225)	29		69,515		(429)
Total temporarily impaired securities	22	$	64,385	$	(283)	16	$	22,049	$	(225)	38	$	86,434	$	(508)