Investment securities available for sale (Tables)
|
6 Months Ended |
Jun. 30, 2021 |
|---|
| Investment securities available for sale |
|
| 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 June 30, 2021 and December 31, 2020 are as follows (in thousands): | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | | | | Cost | | Gains | | Losses | | Fair Value | June 30, 2021 | | | | | | | | | | | | | U.S. Government agency obligations | | $ | 3,725 | | $ | 51 | | $ | — | | $ | 3,776 | Mortgage-backed securities | | | 35,376 | | | 425 | | | (342) | | | 35,459 | Municipals | | | 1,282 | | | — | | | (57) | | | 1,225 | Subordinated debt | | | 8,278 | | | 85 | | | (71) | | | 8,292 | | | | | | | | | | | | | | | | $ | 48,661 | | $ | 561 | | $ | (470) | | $ | 48,752 | | | | | | | | | | | | | | December 31, 2020 | | | | | | | | | | | | | U.S. Government agency obligations | | $ | 8,048 | | $ | 94 | | $ | — | | $ | 8,142 | Mortgage-backed securities | | | 23,412 | | | 645 | | | (51) | | | 24,006 | Subordinated debt | | | 8,795 | | | 37 | | | (136) | | | 8,696 | | | | | | | | | | | | | | | | $ | 40,255 | | $ | 776 | | $ | (187) | | $ | 40,844 |
|
| 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): | | | | | | | | | | | | | | | Three Months Ended | | Six Months | | | June 30, | | Ended June 30, | | | 2021 | | 2020 | | 2021 | | 2020 | | | | | | | | | | | | | | Gross realized gains | | $ | — | | $ | — | | $ | — | | $ | 39 | Gross realized losses | | | — | | | — | | | — | | | (27) | | | | | | | | | | | | | | | | $ | — | | $ | — | | $ | — | | $ | 12 |
|
| Schedule of investment securities available for sale |
Investment securities available for sale that have an unrealized loss position at June 30, 2021 and December 31, 2020 are detailed below (in thousands): | | | | | | | | | | | | | | | | | | | | | Securities in a loss | | Securities in a loss | | | | | | | | | position for less than | | position for more than | | | | | | | | | 12 Months | | 12 Months | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | June 30, 2021 | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | | $ | 22,252 | | $ | (342) | | $ | — | | $ | — | | $ | 22,252 | | $ | (342) | Municipals | | | 1,225 | | | (57) | | | — | | | — | | | 1,225 | | | (57) | Subordinated debt | | | 492 | | | (8) | | | 943 | | | (63) | | | 1,435 | | | (71) | | | | | | | | | | | | | | | | | | | | | | $ | 23,969 | | $ | (407) | | $ | 943 | | $ | (63) | | $ | 24,912 | | $ | (470) | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | | $ | 5,475 | | $ | (51) | | $ | — | | $ | — | | $ | 5,475 | | $ | (51) | Subordinated debt | | | 1,747 | | | (11) | | | 2,807 | | | (125) | | | 4,554 | | | (136) | | | | | | | | | | | | | | | | | | | | | | $ | 7,222 | | $ | (62) | | $ | 2,807 | | $ | (125) | | $ | 10,029 | | $ | (187) |
|
| Schedule of investment by contractual maturity |
The amortized cost and estimated fair value of investment securities available for sale as of June 30, 2021, by contractual maturity, are as follows (in thousands): | | | | | | | | | Amortized | | | | | | Cost | | Fair Value | Less than one year | | $ | 2,003 | | $ | 2,009 | One to five years | | | 212 | | | 213 | Five to ten years | | | 9,627 | | | 9,680 | More than ten years | | | 36,819 | | | 36,850 | | | | | | | | Total | | $ | 48,661 | | $ | 48,752 |
|