Securities (Tables)

9 Months Ended

Sep. 30, 2020

Securities [Abstract]

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

Amortized costs and fair values, with gross unrealized gains and losses, of securities available-for-sale as of the dates indicated are as follows:

	September 30, 2020
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
U.S. Treasury securities	$	6,966	$	104	$	-		$	7,070
Obligations of U.S. Government agencies		33,040		35		(443	)		32,632
Obligations of state and policitcal subdivisions		33,957		1,978		-			35,935
Mortgage-backed securities		70,991		3,108		(64	)		74,035
Money market investments		4,982		-		-			4,982
Corporate bonds and other securities		13,795		130		(32	)		13,893
	$	163,731	$	5,355	$	(539	)	$	168,547

	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
Mortbage-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

Amortized Cost and Fair Value of Securities by Contractual Maturity

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

	September 30, 2020
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	8,529	$	8,641
Due after one year through five years		3,290		3,417
Due after five through ten years		41,420		43,059
Due after ten years		105,510		108,448
Other securities, restricted		4,982		4,982
	$	163,731	$	168,547

Net Realized Gains and (Losses) on Sale of Investments

The following table summarizes net realized gains and losses on the sale of investment securities during the periods indicated:

	Three Months Ended September 30,					Nine Months Ended September 30
(Dollars in thousands)	2020		2019			2020			2019
Securities Available-for-sale
Realized gains on sales of securities	$	1	$	479		$	186		$	515
Realized losses on sales of securities		-		(193	)		(1	)		(203	)
Net realized gain	$	1	$	286		$	185		$	312

Available-for-Sale Securities, Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired as of September 30, 2020 and December 31, 2019, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of the dates indicated:

	September 30, 2020
	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
Obligations of U.S. Government agencies	$	134	$	10,284	$	309	$	19,491	$	443	$	29,775
Mortgage-backed securities		59		7,402		5		1,367		64		8,769
Corporate bonds and other securities		32		6,221		-		-		32		6,221
Total securities available-for-sale	$	225	$	23,907	$	314	$	20,858	$	539	$	44,765

	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
Obligations of U.S. Government agencies	$	349	$	29,744	$	54	$	2,562	$	403	$	32,306
Obligations of state and policitcal subdivisions		225		10,112		-		-		225		10,112
Mortgage-backed securities		405		44,661		147		14,078		552		58,739
Corporate bonds and other securities		-		-		3		197		3		197
Total securities available-for-sale	$	979	$	84,517	$	204	$	16,837	$	1,183	$	101,354