Securities (Tables)

9 Months Ended

Sep. 30, 2019

Securities [Abstract]

Amortized cost and fair value of investment securities AFS

The amortized cost and fair values of our available-for-sale (“AFS”) securities portfolio were as follows:

	September 30, 2019
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(dollars in thousands)
U.S. Treasury securities	$	999	$	—	$	—	$	999
U.S. government agency notes		8,034		—		4		8,030
	$	9,033	$	—	$	4	$	9,029

	December 31, 2018
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(dollars in thousands)
U.S. Treasury securities	$	1,992	$	—	$	11	$	1,981
U.S. government agency notes		10,086		—		89		9,997
	$	12,078	$	—	$	100	$	11,978

Amortized cost and fair value of investment securities held to maturity

The amortized cost and fair values of our held-to-maturity (“HTM”) securities portfolio were as follows:

	September 30, 2019
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(dollars in thousands)
U.S. Treasury securities	$	1,993	$	17	$	—	$	2,010
U.S. government agency notes		6,987		108		12		7,083
Mortgage-backed securities		21,322		78		34		21,366
	$	30,302	$	203	$	46	$	30,459

	December 31, 2018
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(dollars in thousands)
U.S. Treasury securities	$	1,991	$	17	$	—	$	2,008
U.S. government agency notes		11,992		45		92		11,945
Mortgage-backed securities		24,929		6		676		24,259
	$	38,912	$	68	$	768	$	38,212

Schedule of AFS securities in an unrealized loss position

Gross unrealized losses and fair value by length of time that the individual AFS securities have been in an unrealized loss position at the dates indicated are presented in the following tables:

	September 30, 2019
	Less than 12 months					12 months or more					Total
	# of	Fair		Unrealized		# of	Fair		Unrealized		# of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
	(dollars in thousands)
U.S. government agency notes	2	$	3,009		1	4	$	5,021		3	6	$	8,030		4
	2	$	3,009	$	1	4	$	5,021	$	3	6	$	8,030	$	4

	December 31, 2018
	Less than 12 months					12 months or more					Total
	# of	Fair		Unrealized		# of	Fair		Unrealized		# of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
	(dollars in thousands)
U.S. Treasury securities	1	$	990	$	5	1	$	991	$	6	2	$	1,981	$	11
U.S. government agency notes	—		—		—	8		9,997		89	8		9,997		89
	1	$	990	$	5	9	$	10,988	$	95	10	$	11,978	$	100

Schedule of temporary impairment losses

Gross unrealized losses and fair value by length of time that the individual HTM securities have been in an unrealized loss position at the dates indicated are presented in the following tables:

	September 30, 2019
	Less than 12 months					12 months or more					Total
	# of	Fair		Unrealized		# of	Fair		Unrealized		# of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
	(dollars in thousands)
U.S. government agency notes	—	$	—	$	—	4	$	3,999	$	12	4	$	3,999	$	12
Mortgage-backed securities	4		5,158		12	3		3,920		22	7		9,078		34
	4	$	5,158	$	12	7	$	7,919	$	34	11	$	13,077	$	46

	December 31, 2018
	Less than 12 months					12 months or more					Total
	# of	Fair		Unrealized		# of	Fair		Unrealized		# of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
	(dollars in thousands)
U.S. government agency notes	—	$	—	$	—	10	$	9,927	$	92	10		9,927		92
Mortgage-backed securities	—		—		—	18		24,011		676	18		24,011		676
	—	$	—	$	—	28	$	33,938	$	768	28	$	33,938	$	768

Amortized cost and estimated fair value of debt securities

Contractual maturities of debt securities at September 30, 2019 are shown below. Actual maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

	AFS Securities				HTM Securities
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(dollars in thousands)
Due in one year or less	$	9,033	$	9,029	$	5,002	$	4,998
Due after one through five years		—		—		3,978		4,095
Mortgage-backed securities		—		—		21,322		21,366
	$	9,033	$	9,029	$	30,302	$	30,459