Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

INVESTMENT SECURITIES

Schedule of summary of investment securities

	At December 31, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Collaterized mortgage obligations	$	24,261	$	396	$	(14)	$	24,643
Agency mortgage-backed securities		26,072		886		(10)		26,948
Municipal securities		28,675		740		(2)		29,413
U.S. Government agency securities		33,346		9		(310)		33,045
U.S. Treasury securities		—		—		—		—
Total securities available for sale	$	112,354	$	2,031	$	(336)	$	114,049

	At December 31, 2019
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Collaterized mortgage obligations	$	27,618	$	52	$	(187)	$	27,483
Agency mortgage-backed securities		27,823		149		(135)		27,837
Municipal securities		12,301		191		(17)		12,475
U.S. Government agency securities		3,195		1		(5)		3,191
U.S. Treasury securities		500		—		—		500
Total securities available for sale	$	71,437	$	393	$	(344)	$	71,486

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position

The following tables show the fair value and gross unrealized losses associated with the investment portfolio, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2020 and 2019:

	At December 31, 2020
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collaterized mortgage obligations	$	201	$	—	$	1,188	$	(14)	$	1,389	$	(14)
Agency mortgage-backed securities		—		—		566		(10)		566		(10)
Municipal securities		851		(2)		—		—		851		(2)
U.S. Government agency securities		24,160		(308)		481		(2)		24,641		(310)
	$	25,212	$	(310)	$	2,235	$	(26)	$	27,447	$	(336)

	At December 31, 2019
	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
Collaterized mortgage obligations	$	11,792	$	(65)	$	7,330	$	(122)	$	19,122	$	(187)
Agency mortgage-backed securities		4,577		(20)		10,918		(115)		15,495		(135)
Municipal securities		1,806		(7)		864		(10)		2,670		(17)
U.S. Government agency securities		591		(5)		—		—		591		(5)
	$	18,766	$	(97)	$	19,112	$	(247)	$	37,878	$	(344)

Schedule of contractual maturities of investment securities

	At December 31, 2020
	Amortized		Fair
(dollars in thousands)	Cost		Value
Due within one year	$	456	$	461
Due over one to five years		1,380		1,409
Due over five to ten years		483		481
Due over ten years		59,702		60,107
Collaterized mortgage obligations		24,261		24,643
Agency mortgage-backed securities		26,072		26,948
Total securities available for sale	$	112,354	$	114,049