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SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2023
SECURITIES  
Schedule of securities available for sale

The following is a summary of available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

Gross

    

Gross

    

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

​

​

Cost

​

Gains

​

Losses

​

Fair Value

​

September 30, 2023

 

​

  

 

​

  

 

​

  

 

​

  

​

U.S. Treasury securities

​

$

49,659

​

$

—

​

$

(7,824)

​

$

41,835

​

Obligations of U.S. Government sponsored agencies

​

 

31,888

​

 

—

​

 

(4,108)

​

 

27,780

​

Obligations of states and political subdivisions

​

​

63,941

​

​

—

​

​

(9,820)

​

​

54,121

​

Mortgage-backed securities

​

​

38,692

​

​

—

​

​

(2,852)

​

​

35,840

​

Corporate notes

​

 

20,682

​

 

—

​

 

(1,944)

​

 

18,738

​

Certificates of deposit

​

​

740

​

​

—

​

​

(8)

​

​

732

​

Total available for sale securities

​

$

205,602

​

$

—

​

$

(26,556)

​

$

179,046

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2022

​

 

​

​

 

​

​

 

​

​

 

​

​

U.S. Treasury securities

​

$

149,614

​

$

—

​

$

(7,517)

​

$

142,097

​

Obligations of U.S. Government sponsored agencies

​

​

24,935

​

​

—

​

​

(3,186)

​

​

21,749

​

Obligations of states and political subdivisions

​

​

90,701

​

​

88

​

​

(7,603)

​

​

83,186

​

Mortgage-backed securities

​

 

38,701

​

 

—

​

 

(2,064)

​

 

36,637

​

Corporate notes

​

 

21,005

​

 

381

​

 

(1,392)

​

 

19,994

​

Certificates of deposit

​

​

1,004

​

​

—

​

​

(30)

​

​

974

​

Total available for sale securities

​

$

325,960

​

$

469

​

$

(21,792)

​

$

304,637

​
Schedule of securities held to maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

Gross

    

Gross

    

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

​

​

Cost

​

Gains

​

Losses

​

Fair Value

​

September 30, 2023

 

​

  

 

​

  

 

​

  

 

​

  

​

U.S. Treasury securities

​

$

49,659

​

$

—

​

$

(7,824)

​

$

41,835

​

Obligations of U.S. Government sponsored agencies

​

 

31,888

​

 

—

​

 

(4,108)

​

 

27,780

​

Obligations of states and political subdivisions

​

​

63,941

​

​

—

​

​

(9,820)

​

​

54,121

​

Mortgage-backed securities

​

​

38,692

​

​

—

​

​

(2,852)

​

​

35,840

​

Corporate notes

​

 

20,682

​

 

—

​

 

(1,944)

​

 

18,738

​

Certificates of deposit

​

​

740

​

​

—

​

​

(8)

​

​

732

​

Total available for sale securities

​

$

205,602

​

$

—

​

$

(26,556)

​

$

179,046

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2022

​

 

​

​

 

​

​

 

​

​

 

​

​

U.S. Treasury securities

​

$

149,614

​

$

—

​

$

(7,517)

​

$

142,097

​

Obligations of U.S. Government sponsored agencies

​

​

24,935

​

​

—

​

​

(3,186)

​

​

21,749

​

Obligations of states and political subdivisions

​

​

90,701

​

​

88

​

​

(7,603)

​

​

83,186

​

Mortgage-backed securities

​

 

38,701

​

 

—

​

 

(2,064)

​

 

36,637

​

Corporate notes

​

 

21,005

​

 

381

​

 

(1,392)

​

 

19,994

​

Certificates of deposit

​

​

1,004

​

​

—

​

​

(30)

​

​

974

​

Total available for sale securities

​

$

325,960

​

$

469

​

$

(21,792)

​

$

304,637

​
Schedule of fair value and gross unrealized losses of securities

​

The following table shows the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less Than 12 Months

​

Greater Than 12 Months

​

Total

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Number

​

Fair

    

Unrealized

    

Fair

    

Unrealized

    

Fair

​

Unrealized

​

of

​

Value

​

Losses

​

Value

​

Losses

​

Value

​

Losses

​

Securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2023 - Available for Sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

$

—

​

$

—

​

$

41,835

​

$

(7,824)

​

$

41,835

​

$

(7,824)

​

9

Obligations of U.S. Government sponsored agencies

​

8,622

​

​

(355)

​

​

19,158

​

​

(3,753)

​

​

27,780

​

​

(4,108)

​

27

Obligations of states and political subdivisions

​

16,359

​

​

(894)

​

​

37,762

​

​

(8,926)

​

​

54,121

​

​

(9,820)

​

83

Mortgage-backed securities

 

7,149

​

 

(310)

​

 

28,691

​

 

(2,542)

​

 

35,840

​

 

(2,852)

 

114

Corporate notes

 

4,850

​

 

(142)

​

 

12,268

​

 

(1,802)

​

 

17,118

​

 

(1,944)

 

9

Certificate of Deposits

​

—

​

​

—

​

​

732

​

​

(8)

​

​

732

​

​

(8)

​

3

Totals

$

36,980

​

$

(1,701)

​

$

140,446

​

$

(24,855)

​

$

177,426

​

$

(26,556)

 

245

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2023 - Held to Maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

$

36,117

​

$

(694)

​

$

34,621

​

$

(1,570)

​

$

70,738

​

$

(2,264)

​

51

Obligations of states and political subdivisions

​

—

​

​

—

​

​

218

​

​

(2)

​

​

218

​

​

(2)

​

1

Totals

$

36,117

​

$

(694)

​

$

34,839

​

$

(1,572)

​

$

70,956

​

$

(2,266)

​

52

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2022 - Available for Sale

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

 

  

U.S. Treasury securities

$

99,433

​

$

(559)

​

$

42,664

​

$

(6,958)

​

$

142,097

​

$

(7,517)

​

12

Obligations of U.S. Government sponsored agencies

​

6,735

​

​

(652)

​

​

15,014

​

​

(2,534)

​

​

21,749

​

​

(3,186)

​

16

Obligations of states and political subdivisions

​

50,839

​

​

(2,650)

​

​

15,933

​

​

(4,953)

​

​

66,772

​

​

(7,603)

​

103

Mortgage-backed securities

 

35,731

​

 

(1,993)

​

 

879

​

 

(71)

​

 

36,610

​

 

(2,064)

 

107

Corporate notes

 

9,701

​

 

(920)

​

 

3,080

​

 

(472)

​

 

12,781

​

 

(1,392)

 

8

Certificate of Deposits

​

974

​

​

(30)

​

​

—

​

​

—

​

​

974

​

​

(30)

​

4

Totals

$

203,413

​

$

(6,804)

​

$

77,570

​

$

(14,988)

​

$

280,983

​

$

(21,792)

​

250

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2022 - Held to Maturity

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

 

  

U.S. Treasury securities

$

29,464

​

$

(1,306)

​

$

4,868

​

$

(134)

​

$

34,332

​

$

(1,440)

​

15

Obligations of states and political subdivisions

 

417

​

 

(2)

​

 

—

​

 

—

​

 

417

​

 

(2)

​

2

Totals

$

29,881

​

$

(1,308)

​

$

4,868

​

$

(134)

​

$

34,749

​

$

(1,442)

​

17
Schedule of amortized cost and estimated fair value of securities

The following is a summary of amortized cost and estimated fair value of securities by contractual maturity as of September 30, 2023. Contractual maturities will differ from expected maturities for mortgage-backed securities because borrowers may have the right to call or prepay obligations without penalties.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Available for Sale

​

Held to Maturity

​

    

Amortized

    

Estimated

    

Amortized

    

Estimated

​

​

Cost

​

Fair Value

​

Cost

​

Fair Value

Due in one year or less

​

$

6,704

​

$

6,548

​

$

15,819

​

$

15,594

Due after one year through 5 years

​

 

31,059

​

 

28,060

​

​

56,263

​

​

54,356

Due after 5 years through ten years

​

 

74,846

​

 

64,319

​

​

5,072

​

​

4,938

Due after 10 years

​

 

54,301

​

 

44,279

​

​

—

​

​

—

Subtotal

​

 

166,910

​

 

143,206

​

​

77,154

​

​

74,888

Mortgage-backed securities

​

 

38,692

​

 

35,840

​

​

—

​

​

—

Total

​

$

205,602

​

$

179,046

​

$

77,154

​

$

74,888