Investment Securities (Tables)

9 Months Ended

Sep. 30, 2019

Investments Debt And Equity Securities [Abstract]

Summary of Investment Securities Available-for-Sale and Regulatory Stock

The following table is a summary of investment securities available-for-sale and regulatory stock:

	(Amounts in thousands)
September 30, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	3,348	$	1	$	—	$	3,349
Obligations of states and political subdivisions		67,958		2,046		20		69,984
U.S. Government-sponsored mortgage-backed securities		47,227		41		564		46,704
U.S. Government-sponsored collateralized mortgage obligations		9,498		106		41		9,563
U.S. Government-guaranteed small business administration pools		6,893		3		40		6,856
Total investment securities available-for-sale	$	134,924	$	2,197	$	665	$	136,456
Federal Home Loan Bank (FHLB) stock	$	2,609	$	—	$	—	$	2,609
Federal Reserve Bank (FRB) stock		226		—		—		226
Total regulatory stock	$	2,835	$	—	$	—	$	2,835

	(Amounts in thousands)
December 31, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	9,242	$	11	$	251	$	9,002
Obligations of states and political subdivisions		53,187		26		1,555		51,658
U.S. Government-sponsored mortgage-backed securities		59,070		—		2,483		56,587
U.S. Government-sponsored collateralized mortgage obligations		12,112		41		177		11,976
U.S. Government-guaranteed small business administration pools		7,978		—		278		7,700
Total investment securities available-for-sale	$	141,589	$	78	$	4,744	$	136,923
Federal Home Loan Bank (FHLB) stock	$	2,355	$	—	$	—	$	2,355
Federal Reserve Bank (FRB) stock		226		—		—		226
Total regulatory stock	$	2,581	$	—	$	—	$	2,581

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of debt securities at September 30, 2019, by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. 

	(Amounts in thousands)
	Amortized Cost		Fair Value
Due in one year or less	$	348	$	349
Due after one year through five years		135		141
Due after five years through ten years		5,540		5,536
Due after ten years		72,176		74,163
Total		78,199		80,189
U.S. Government-sponsored mortgage-backed and related securities		56,725		56,267
Total investment securities available-for-sale	$	134,924	$	136,456

Proceeds and Gains or Losses Realized on Available for Sale Securities Sold or Called

The table below sets forth the proceeds and gains or losses realized on available for sale securities sold or called for the periods presented:

	(Amounts in thousands)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Proceeds on securities sold	$	—	$	—	$	13,622	$	21,418
Gross realized gains		—		—		82		123
Gross realized losses		—		—		126		144

Fair Value of Securities with Unrealized Losses and an Aging of those Unrealized Losses

The following is a summary of the fair value of available-for-sale securities with unrealized losses and an aging of those unrealized losses at September 30, 2019:  

	(Amounts in thousands)
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agencies and corporations	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of states and political subdivisions		264		1		1,336		19		1,600		20
U.S. Government-sponsored mortgage-backed    securities		2,604		9		39,976		555		42,580		564
U.S. Government-sponsored collateralized    mortgage obligations		1,356		16		4,178		25		5,534		41
U.S. Government-guaranteed small business    administration pools		4,143		19		1,012		21		5,155		40
Total	$	8,367	$	45	$	46,502	$	620	$	54,869	$	665

The above table comprises 34 investment securities where the fair value is less than the related amortized cost.

The following is a summary of the fair value of available-for-sale securities with unrealized losses and an aging of those unrealized losses at December 31, 2018:

	(Amounts in thousands)
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agencies and corporations	$	3,280	$	6	$	2,755	$	245	$	6,035	$	251
Obligations of states and political subdivisions		23,616		567		24,607		988		48,223		1,555
U.S. Government-sponsored mortgage-backed    securities		1,598		18		54,989		2,465		56,587		2,483
U.S. Government-sponsored collateralized    mortgage obligations		—		—		5,350		177		5,350		177
U.S. Government-guaranteed small business    administration pools		—		—		7,700		278		7,700		278
Total	$	28,494	$	591	$	95,401	$	4,153	$	123,895	$	4,744