Investment securities available for sale (Tables)
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9 Months Ended |
Sep. 30, 2020 |
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| Investment securities available for sale |
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| Schedule of amortized cost and fair value of investment securities available for sale |
The amortized cost and fair value of investment securities available for sale as of September 30, 2020 and December 31, 2019 are as follows (in thousands):
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Gross
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Gross
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Amortized
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Unrealized
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Unrealized
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Fair
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Cost
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Gains
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Losses
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Value
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September 30, 2020
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U.S. Government agency obligations
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$
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10,354
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$
|
125
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$
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—
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$
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10,479
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Mortgage-backed securities
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17,338
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670
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(28)
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17,980
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Subordinated debt
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8,003
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29
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(186)
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7,846
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$
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35,695
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$
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824
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$
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(214)
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$
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36,305
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December 31, 2019
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U.S. Government agency obligations
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$
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14,797
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$
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57
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$
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(9)
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$
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14,845
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Mortgage-backed securities
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25,124
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|
204
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(26)
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25,302
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Subordinated debt
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6,779
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|
91
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(80)
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6,790
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$
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46,700
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$
|
352
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$
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(115)
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$
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46,937
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| Schedule of gross realized gains and losses pertaining to available for sale securities |
Gross realized gains and losses pertaining to available for sale securities are detailed as follows for the periods indicated (in thousands):
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2020
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2019
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2020
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2019
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Gross realized gains
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$
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—
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$
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—
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$
|
39
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$
|
101
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Gross realized losses
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—
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—
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(27)
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—
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$
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—
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$
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—
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$
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12
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$
|
101
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| Schedule of investment securities available for sale |
Investment securities available for sale that have an unrealized loss position at September 30, 2020 and December 31, 2019 are detailed below (in thousands):
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Securities in a loss
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Securities in a loss
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position for less than
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position for more than
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12 Months
|
|
12 Months
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Total
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Fair
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Unrealized
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Fair
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Unrealized
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Fair
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Unrealized
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Value
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Losses
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Value
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Losses
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Value
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Losses
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September 30, 2020
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Mortgage-backed securities
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2,073
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(28)
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—
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—
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2,073
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(28)
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Subordinated debt
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5,166
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(81)
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|
901
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(105)
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6,067
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(186)
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$
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7,239
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$
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(109)
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$
|
901
|
|
$
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(105)
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$
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8,140
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|
$
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(214)
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December 31, 2019
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U.S. Government agency obligations
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|
$
|
2,001
|
|
$
|
(1)
|
|
$
|
5,368
|
|
$
|
(8)
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|
$
|
7,369
|
|
$
|
(9)
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|
Mortgage-backed securities
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|
2,747
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(26)
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—
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—
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2,747
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(26)
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Subordinated debt
|
|
|
759
|
|
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(6)
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|
940
|
|
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(74)
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1,699
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(80)
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$
|
5,507
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|
$
|
(33)
|
|
$
|
6,308
|
|
$
|
(82)
|
|
$
|
11,815
|
|
$
|
(115)
|
|
| Schedule of investment by contractual maturity |
The amortized cost and estimated fair value of investment securities available for sale as of September 30, 2020, by contractual maturity, are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
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Amortized
|
|
|
|
|
|
|
Cost
|
|
Fair Value
|
|
Less than one year
|
|
$
|
8,213
|
|
$
|
8,277
|
|
One to five years
|
|
|
359
|
|
|
365
|
|
Five to ten years
|
|
|
9,925
|
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|
9,822
|
|
More than ten years
|
|
|
17,198
|
|
|
17,841
|
|
|
|
|
|
|
|
|
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Total
|
|
$
|
35,695
|
|
$
|
36,305
|
|