Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

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
March 31, 2020
U.S. Treasury	$	743	$	34	$	—	$	777
U.S. government and federal agency obligations		8,922		43		(19)		8,946
U.S. government-sponsored enterprises		37,320		433		—		37,753
Obligations of states and political subdivisions		42,724		486		(53)		43,157
Mortgage-backed securities		101,123		1,957		(63)		103,017
Other debt securities (a)		3,000		174		—		3,174
Bank issued trust preferred securities (a)		1,486		—		(261)		1,225
Total available-for-sale securities	$	195,318	$	3,127	$	(396)	$	198,049
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

(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	$	8,923	$	8,954
Due after one year through five years		20,335		20,462
Due after five years through ten years		42,787		43,470
Due after ten years		22,150		22,146
Total		94,195		95,032
Mortgage-backed securities		101,123		103,017
Total available-for-sale securities	$	195,318	$	198,049

Schedule of Other securities

	March 31, 2020		December 31, 2019
(in thousands)	2020		2019
Other securities:
FHLB stock	$	7,133	$	5,644
MIB stock		151		151
Equity securities with readily determinable fair values		12		13
Total other investment securities	$	7,296	$	5,808

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 March 31, 2020
U.S. government and federal agency obligations	$	1,686	$	(13)	$	1,557	$	(6)	$	3,243	$	(19)
Obligations of states and political subdivisions		7,440		(50)		532		(3)		7,972		(53)
Mortgage-backed securities		11,296		(55)		1,710		(8)		13,006		(63)
Bank issued trust preferred securities		—		—		1,225		(261)		1,225		(261)
Total	$	20,422	$	(118)	$	5,024	$	(278)	$	25,446	$	(396)
(in thousands)
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)

Schedule of components of investment securities gains and losses

	Three Months Ended March 31,
(in thousands)	2020		2019
Investment securities (losses) gains, net
Available for sale securities:
Gains realized on sales	$	—	$	—
Losses realized on sales		—		—
Other-than-temporary impairment recognized		—		—
Other investment securities:
Fair value adjustments, net		(1)		1
Investment securities (losses) gains, net	$	(1)	$	1