Investment Securities (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2020
U.S. Treasury	$	743	$	33	$	—	$	776
U.S. government and federal agency obligations		8,654		178		(14)		8,818
U.S. government-sponsored enterprises		34,293		517		—		34,810
Obligations of states and political subdivisions		42,448		1,047		(1)		43,494
Mortgage-backed securities		92,559		2,331		(3)		94,887
Other debt securities (a)		8,000		44		—		8,044
Bank issued trust preferred securities (a)		1,486		—		(279)		1,207
Total available-for-sale securities	$	188,183	$	4,150	$	(297)	$	192,036
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	$	6,218	$	6,252
Due after one year through five years		21,060		21,312
Due after five years through ten years		46,565		47,482
Due after ten years		21,781		22,103
Total		95,624		97,149
Mortgage-backed securities		92,559		94,887
Total available-for-sale securities	$	188,183	$	192,036

Schedule of Other securities

	June 30,		December 31,
(in thousands)	2020		2019
Other securities:
FHLB stock	$	6,811	$	5,644
MIB stock		151		151
Equity securities with readily determinable fair values		14		13
Total other investment securities	$	6,976	$	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 June 30, 2020
U.S. government and federal agency obligations	$	596	$	(3)	$	1,481	$	(11)	$	2,077	$	(14)
Obligations of states and political subdivisions		774		(1)		—		—		774		(1)
Mortgage-backed securities		1		—		285		(3)		286		(3)
Bank issued trust preferred securities		—		—		1,207		(279)		1,207		(279)
Total	$	1,371	$	(4)	$	2,973	$	(293)	$	4,344	$	(297)
(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 June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Investment securities gains, net
Available for sale securities:
Gains realized on sales	$	6	$	—	$	6	$	—
Losses realized on sales		—		—		—		—
Other-than-temporary impairment recognized		—		—		—		—
Other investment securities:
Fair value adjustments, net		1		—		—		1
Investment securities gains, net	$	7	$	—	$	6	$	1