Investment Securities (Tables)

9 Months Ended

Sep. 30, 2019

Investment Securities

Schedule of amortized cost and fair value of debt securities available-for-sale

	Total
	Amortized		Gross Unrealized				Fair
(in thousands)	Cost		Gains		Losses		Value
September 30, 2019
U.S. Treasury	$	985	$	10	$	—	$	995
U.S. government and federal agency obligations		8,495		—		(30)		8,465
Government sponsored enterprises		22,786		50		(38)		22,798
Obligations of states and political subdivisions		29,341		144		(61)		29,424
Mortgage-backed securities		115,261		542		(569)		115,234
Other debt securities (a)		3,000		51		—		3,051
Bank issued trust preferred securities (a)		1,486		—		(183)		1,303
Total available-for-sale securities	$	181,354	$	797	$	(881)	$	181,270
December 31, 2018
U.S. Treasury	$	1,984	$	—	$	(32)	$	1,952
U.S. government and federal agency obligations		10,235		—		(269)		9,966
Government sponsored enterprises		43,784		23		(472)		43,335
Obligations of states and political subdivisions		40,859		28		(501)		40,386
Mortgage-backed securities		121,230		72		(3,110)		118,192
Other debt securities (a)		3,000		—		—		3,000
Bank issued trust preferred securities (a)		1,486		—		(112)		1,374
Total available-for-sale securities	$	222,578	$	123	$	(4,496)	$	218,205

(a) Certain hybrid instruments possessing characteristics typically associated with debt obligations.

Schedule of amortized cost and fair value of debt securities classified as available-for-sale by contractual maturity

	Amortized		Fair
(in thousands)	Cost		Value
Due in one year or less	$	8,962	$	8,951
Due after one year through five years		36,227		36,256
Due after five years through ten years		10,910		10,926
Due after ten years		9,994		9,903
Total		66,093		66,036
Mortgage-backed securities		115,261		115,234
Total available-for-sale securities	$	181,354	$	181,270

Schedule of Other securities

(in thousands)	September 30, 2019		December 31, 2018
Other securities:
FHLB stock	$	6,046	$	5,512
MIB stock		151		151
Equity securities with readily determinable fair values		13		12
Total other investment securities	$	6,210	$	5,675

Schedule of gross unrealized losses on debt securities and fair value of related securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

	Less than 12 months				12 months or more				Total		Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	Value		Losses		Value		Losses		Value		Losses
At September 30, 2019
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
U.S. government and federal agency obligations		6,310		(25)		1,913		(5)		8,223		(30)
Government sponsored enterprises		4,539		(6)		8,466		(32)		13,005		(38)
Obligations of states and political subdivisions		9,098		(45)		2,891		(16)		11,989		(61)
Mortgage-backed securities		8,624		(24)		46,968		(545)		55,592		(569)
Other debt securities		—		—		—		—		—		—
Bank issued trust preferred securities		—		—		1,303		(183)		1,303		(183)
Total	$	28,571	$	(100)	$	61,541	$	(781)	$	90,112	$	(881)
(in thousands)
At December 31, 2018
U.S. Treasury	$	—	$	—	$	1,952	$	(32)	$	1,952	$	(32)
U.S. government and federal agency obligations		—		—		9,966		(269)		9,966		(269)
Government sponsored enterprises		1,997		(3)		33,346		(469)		35,343		(472)
Obligations of states and political subdivisions		5,851		(16)		28,832		(485)		34,683		(501)
Mortgage-backed securities		10,085		(61)		99,321		(3,049)		109,406		(3,110)
Bank issued trust preferred securities		—		—		1,374		(112)		1,374		(112)
Total	$	17,933	$	(80)	$	174,791	$	(4,416)	$	192,724	$	(4,496)

Schedule of components of investment securities gains and losses

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2019		2018		2019		2018
Investment securities (losses) gains, net
Available for sale securities:
Gains realized on sales	$	6	$	47	$	6	$	253
Losses realized on sales		(46)		—		(46)		—
Other-than-temporary impairment recognized		—		—		—		—
Other investment securities:
Fair value adjustments, net		—		3		—		3
Investment securities (losses) gains, net	$	(40)	$	50	$	(40)	$	256