Bridgewater Bank Annual Report

portfolio. The following table presents the amortized cost and fair value of securities available for sale, by type, at December 31, 2018 and 2017.

December 31, 2018

December 31, 2017

Amortized

Fair

Amortized

Fair

Cost Value U.S. Treasury Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 17,862 $ 17,897 $ — $ — SBA Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49,876 49,054 45,368 45,383 Mortgage-Backed Securities Issued or Guaranteed by U.S. Agencies (MBS): Residential Pass-Through: Guaranteed by GNMA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,357 6,137 7,080 6,940 Issued by FNMA and FHLMC. . . . . . . . . . . . . . . . . . . . . . . . . . . 314 314 11,340 11,272 Other Residential Mortgage-Backed Securities . . . . . . . . . . . . . . . . 25,252 24,539 29,516 28,834 Commercial Mortgage-Backed Securities . . . . . . . . . . . . . . . . . . . . 15,443 14,736 12,121 11,748 All Other Commercial MBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,450 1,450 1,888 1,887 Total MBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,816 47,176 61,945 60,681 Municipal Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117,991 118,133 115,784 118,320 Corporate Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,170 21,118 5,052 5,107 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 255,715 $ 253,378 $ 228,149 $ 229,491 The following tables present the fair value of securities as of December 31, 2018 and December 31, 2017 by their stated maturities, as well as the fully tax-equivalent yields for each maturity range. Value Cost

Maturity as of December 31, 2018

Due in One Year

More Than One Year to Five Years

More Than Five Years to Ten Years

or Less

Due After Ten Years

Weighted Average

Weighted Average

Weighted Average

Weighted Average

Fair Value

Fair Value

Fair Value

Fair Value

Yield

Yield

Yield

Yield

U.S. Treasury Securities . $ 9,940

2.36 % $ 7,957

2.75 % $

—

— % $

—

— %

SBA Securities . . . . . . . . . Mortgage-Backed Securities Issued or Guaranteed by U.S. Agencies (MBS): Residential Pass-Through: Guaranteed by GNMA. . . . . . . . . . . Issued by FNMA and FHLMC . . . . . .

—

—

901

3.66

15,961

3.12

32,192

3.34

—

—

—

—

—

— 6,137

2.53

—

—

—

— 314

2.82

—

—

Other Residential Mortgage-Backed Securities . . . . . . . . . . 109

0.91

43

2.84 309

2.28 24,078

2.81

Commercial Mortgage-Backed Securities . . . . . . . . . . All Other Commercial MBS . . . . . . . . . . . . . . . .

—

— 2,525

1.72 6,825

2.61 5,386

2.84

—

—

—

—

—

— 1,450 2.61 37,051 4.18 77,625

3.52 2.80 4.00

Total MBS . . . . . . . . . 109 Municipal Securities . . . . 704

0.91 2,568 3.66 9,401

1.74 7,448 3.64 30,403 — 21,118 3.07 % $ 74,930

Corporate Securities . . . .

—

—

—

5.26

—

—

Total . . . . . . . . . . . . . . . . . . $ 10,753

2.43 % $ 20,827

4.10 % $ 146,868

3.55 %

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