Securities (Tables)

12 Months Ended

Dec. 31, 2019

Debt and Equity Securities, FV-NI [Line Items]

Amortized cost and fair values of AFS investment securities at December 31, 2019 are summarized as follows:



	December 31, 2019
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale (AFS)
Asset-backed securities issued by GSEs and U.S. Agencies
Residential Mortgage Backed Securities ("MBS")	$	35,351	$	754	$	13	$	36,092
Residential Collateralized Mortgage Obligations ("CMOs")	145,479		1,839		386		146,932
U.S. Agency	9,671		122		60		9,733
Asset-backed securities issued by Others:
Residential CMOs	380		3		12		371
Callable GSE Agency Bonds	2,001		1		—		2,002
Certificates of Deposit Fixed	250		—		—		250
U.S. government obligations	1,490		—		1		1,489
Municipal bonds	11,491		—		173		11,318
Total investment securities available-for-sale	$	206,113	$	2,719	$	645	$	208,187

Equity securities carried at fair value through income
CRA investment fund	$	4,669	$	—	$	—	$	4,669
Non-marketable equity securities
Other equity securities	$	209	$	—	$	—	$	209

Total investment securities	$	210,991	$	2,719	$	645	$	213,065

Amortized cost and fair values of AFS and HTM investment securities at December 31, 2018 are summarized as follows:



	December 31, 2018
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale (AFS)
Asset-backed securities issued by GSEs and U.S. Agencies
Residential Mortgage Backed Securities ("MBS")	$	7,641	$	1	$	281	$	7,361
Residential Collateralized Mortgage Obligations ("CMOs")	102,411		199		1,870		100,740
U.S. Agency	12,472		9		606		11,875
Total investment securities available-for-sale	$	122,524	$	209	$	2,757	$	119,976

Securities held-to-maturity (HTM)
Asset-backed securities issued by GSEs and U.S. Agencies
Residential MBS	$	25,948	$	75	$	756	$	25,267
Residential CMOs	52,375		64		1,360		51,079
U.S. Agency	10,508		7		404		10,111
Asset-backed securities issued by Others:
Residential CMOs	482		—		41		441
Callable GSE Agency Bonds	5,009		—		110		4,899
Certificates of deposit fixed	950		—		—		950
U.S. government obligations	999		—		1		998
Total investment securities held-to-maturity	$	96,271	$	146	$	2,672	$	93,745

Equity securities carried at fair value through income
CRA investment fund	$	4,428	$	—	$	—	$	4,428
Non-marketable equity securities
Other equity securities	$	209	$	—	$	—	$	209

Total investment securities	$	223,432	$	355	$	5,429	$	218,358

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of debt securities at December 31, 2019 by contractual maturity, are shown below. The Company has allocated the AFS securities into the four maturity groups listed below using the expected average life of the individual securities based on statistics provided by industry sources. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.



December 31, 2019	AFS
(dollars in thousands)	Amortized Cost		Estimated Fair Value

Within one year	$	41,949	$	42,358
Over one year through five years	80,043		80,855
Over five years through ten years	66,972		67,651
After ten years	17,149		17,323
Total AFS securities	$	206,113	$	208,187

Available-For-Sale Securities [Member]

Debt and Equity Securities, FV-NI [Line Items]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at December 31, 2019 and 2018 were as follows:



December 31, 2019	Less Than 12 Months				More Than 12 Months				Total
(dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Losses
Asset-backed securities issued by GSEs and U.S. Agencies	$	15,215	$	63	$	39,689	$	336	$	54,904	$	399
U.S. SBA Debentures	—		—		4,744		60		4,744		60
Asset-backed securities issued by Others	—		—		136		12		136		12
Municipal bonds	11,318		173		—		—		11,318		173
U.S. government obligations	1,489		1		—		—		1,489		1
	$	28,022	$	237	$	44,569	$	408	$	72,591	$	645



December 31, 2018	Less Than 12 Months				More Than 12 Months				Total
(dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Losses
Asset-backed securities issued by GSEs and U.S. Agencies	$	30,095	$	163	$	54,846	$	2,594	$	84,941	$	2,757
	$	30,095	$	163	$	54,846	$	2,594	$	84,941	$	2,757

Held-To-Maturity Securities [Member]

Debt and Equity Securities, FV-NI [Line Items]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2018 were as follows:



December 31, 2018	Less Than 12 Months				More Than 12 Months				Total
(dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Losses
Asset-backed securities issued by GSEs and U.S. Agencies	$	6,955	$	38	$	70,752	$	2,483	$	77,707	$	2,521
Callable GSE Agency Bonds	—		—		4,899		110		4,899		110
Asset-backed securities issued by Others	—		—		441		41		441		41
	$	6,955	$	38	$	76,092	$	2,634	$	83,047	$	2,672