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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 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

December 31, 2019

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Treasury

 

$

987

 

$

 8

 

$

 —

 

$

995

U.S. government and federal agency obligations

 

 

8,124

 

 

 —

 

 

(77)

 

 

8,047

U.S. government-sponsored enterprises

 

 

22,300

 

 

41

 

 

(58)

 

 

22,283

Obligations of states and political subdivisions

 

 

33,704

 

 

144

 

 

(59)

 

 

33,789

Mortgage-backed securities

 

 

105,522

 

 

522

 

 

(428)

 

 

105,616

Other debt securities (a)

 

 

3,000

 

 

53

 

 

 —

 

 

3,053

Bank issued trust preferred securities (a)

 

 

1,486

 

 

 —

 

 

(176)

 

 

1,310

Total available-for-sale securities

 

$

175,123

 

$

768

 

$

(798)

 

$

175,093

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

  

 

 

  

 

 

  

 

 

  

U.S. Treasury

 

$

1,984

 

$

 —

 

$

(32)

 

$

1,952

U.S. government and federal agency obligations

 

 

10,235

 

 

 —

 

 

(269)

 

 

9,966

U.S. 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

 

$

12,023

 

$

12,023

Due after one year through five years

 

 

27,002

 

 

27,043

Due after five years through ten years

 

 

20,448

 

 

20,445

Due after ten years

 

 

10,128

 

 

9,966

Total

 

 

69,601

 

 

69,477

Mortgage-backed securities

 

 

105,522

 

 

105,616

Total available-for-sale securities

 

$

175,123

 

$

175,093

 

Schedule of Other securities

 

 

 

 

 

 

 

 

(in thousands)

    

2019

    

2018

 

Other securities:

 

 

  

 

 

  

 

FHLB stock

 

$

5,644

 

$

5,512

 

MIB stock

 

 

151

 

 

151

 

Equity securities with readily determinable fair values

 

 

13

 

 

12

 

Total other investment securities

 

$

5,808

 

$

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 December 31, 2019

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

U.S. government and federal agency obligations

 

$

6,238

 

$

(69)

 

$

1,809

 

$

(8)

 

$

8,047

$

 

(77)

U.S. government-sponsored enterprises

 

 

5,949

 

 

(47)

 

 

7,488

 

 

(11)

 

 

13,437

 

 

(58)

Obligations of states and political subdivisions

 

 

10,729

 

 

(53)

 

 

1,931

 

 

(6)

 

 

12,660

 

 

(59)

Mortgage-backed securities

 

 

5,444

 

 

(37)

 

 

40,120

 

 

(391)

 

 

45,564

 

 

(428)

Bank issued trust preferred securities

 

 

 —

 

 

 —

 

 

1,310

 

 

(176)

 

 

1,310

 

 

(176)

Total

 

$

28,360

 

$

(206)

 

$

52,658

 

$

(592)

 

$

81,018

 

$

(798)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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)

U.S. 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

 

 

 

 

 

 

 

 

 

 

(in thousands)

    

2019

    

2018

 

2017

Investment securities (losses) gains, net

 

 

  

 

 

  

 

 

  

Available for sale securities:

 

 

  

 

 

  

 

 

  

Gains realized on sales

 

$

 6

 

$

253

 

$

38

Losses realized on sales

 

 

(46)

 

 

 —

 

 

(33)

Other-than-temporary impairment recognized

 

 

 —

 

 

 —

 

 

 —

Other investment securities:

 

 

  

 

 

  

 

 

  

Fair value adjustments, net

 

 

 —

 

 

 2

 

 

 —

Investment securities (losses) gains, net

 

$

(40)

 

$

255

 

$

 5