Securities Portfolio (Tables)

12 Months Ended

Dec. 31, 2019

Amortized Cost and Fair Value, with Gross Unrealized Gains and Losses of Securities Available-for-Sale

The amortized cost and fair value, with gross unrealized gains and losses, of securities available-for-sale were:

	December 31, 2019
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
U.S. Treasury securities	$	6,925	$	78	$	-		$	7,003
Obligations of U.S. Government agencies		33,998		9		(403	)		33,604
Obligations of state and policitcal subdivisions		24,525		442		(225	)		24,742
Mortgage-backed securities		72,000		460		(552	)		71,908
Money market investments		3,825		-		-			3,825
Corporate bonds and other securities		4,542		94		(3	)		4,633
	$	145,815	$	1,083	$	(1,183	)	$	145,715

	December 31, 2018
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
U.S. Treasury securities	$	12,323	$	6	$	(1	)	$	12,328
Obligations of U.S. Government agencies		10,868		2		(156	)		10,714
Obligations of state and policitcal subdivisions		49,194		155		(512	)		48,837
Mortgage-backed securities		73,444		93		(2,346	)		71,191
Money market investments		1,897		-		-			1,897
Corporate bonds and other securities		3,250		42		(12	)		3,280
	$	150,976	$	298	$	(3,027	)	$	148,247

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity are shown below.

	December 31, 2019
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	1,655	$	1,664
Due after one year through five years		15,702		15,758
Due after five through ten years		36,667		36,767
Due after ten years		87,966		87,701
Other securities, restricted		3,825		3,825
	$	145,815	$	145,715

Net Realized Gains and (Losses) on Sale of Investments

The following table provides information about securities sold in the years ended December 31:

	Year Ended December 31,
(Dollars in thousands)	2019			2018
Securities Available-for-sale
Realized gains on sales of securities	$	575		$	131
Realized losses on sales of securities		(261	)		(11	)
Net realized gain	$	314		$	120

Available-for-Sale Securities, Continuous Unrealized Loss Position

The following tables show the number of securities with unrealized losses, the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are deemed to be temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated:

	December 31, 2019
	Less than 12 months				12 months or more				Total
(Dollars in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Number of Securities
Obligations of U.S. Government agencies	$	349	$	29,744	$	54	$	2,562	$	403	$	32,306		22
Obligations of state and policitcal subdivisions		225		10,112		-		-		225		10,112		7
Mortgage-backed securities		405		44,661		147		14,078		552		58,739		17
Corporate bonds and other securities		-		-		3		197		3		197		1
Total securities available-for-sale	$	979	$	84,517	$	204	$	16,837	$	1,183	$	101,354		47

	December 31, 2018
	Less than 12 months				12 months or more				Total
(Dollars in thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Number of Securities
U.S. Treasury securities	$	1	$	2,484	$	-	$	-	$	1	$	2,484		1
Obligations of U.S. Government agencies		47		6,014		109		3,206		156		9,220		15
Obligations of state and policitcal subdivisions		10		5,829		502		23,727		512		29,556		45
Mortgage-backed securities		-		-		2,346		63,930		2,346		63,930		24
Corporate bonds and other securities		1		100		11		389		12		489		3
Total securities available-for-sale	$	59	$	14,427	$	2,968	$	91,252	$	3,027	$	105,679		88