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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2024
SECURITIES  
Schedule of available for sale securities

The following is a summary of available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

Gross

    

Gross

    

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

​

​

Cost

​

Gains

​

Losses

​

Fair Value

​

March 31, 2024

 

​

  

 

​

  

 

​

  

 

​

  

​

Obligations of U.S. Government sponsored agencies

​

$

30,389

​

$

—

​

$

(3,344)

​

$

27,045

​

Obligations of states and political subdivisions

​

​

63,576

​

​

16

​

​

(6,026)

​

​

57,566

​

Mortgage-backed securities

​

​

36,733

​

​

1

​

​

(1,959)

​

​

34,775

​

Corporate notes

​

 

20,662

​

 

—

​

 

(1,628)

​

 

19,034

​

Total available for sale securities

​

$

151,360

​

$

17

​

$

(12,957)

​

$

138,420

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

 

​

​

 

​

​

 

​

​

 

​

​

Obligations of U.S. Government sponsored agencies

​

$

31,453

​

$

4

​

$

(3,163)

​

$

28,294

​

Obligations of states and political subdivisions

​

​

63,929

​

​

77

​

​

(5,760)

​

​

58,246

​

Mortgage-backed securities

​

 

37,789

​

 

5

​

 

(1,664)

​

 

36,130

​

Corporate notes

​

 

20,657

​

 

—

​

 

(1,619)

​

 

19,038

​

Certificates of deposit

​

​

490

​

​

—

​

​

(1)

​

​

489

​

Total available for sale securities

​

$

154,318

​

$

86

​

$

(12,207)

​

$

142,197

​
Schedule of held to maturity securities

The following is a summary of held to maturity securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

Gross

    

Gross

    

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

​

Cost

​

Gains

​

Losses

​

Fair Value

March 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

​

$

107,871

​

$

671

​

$

(1,536)

​

$

107,006

Obligations of states and political subdivisions

​

​

3,861

​

​

—

​

​

—

​

​

3,861

Total held to maturity securities

​

$

111,732

​

$

671

​

$

(1,536)

​

$

110,867

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

 

  

​

 

  

​

 

  

​

 

  

U.S. Treasury securities

​

$

99,173

​

$

1,372

​

$

(1,070)

​

$

99,475

Obligations of states and political subdivisions

​

​

4,151

​

​

—

​

​

—

​

​

4,151

Total held to maturity securities

​

$

103,324

​

$

1,372

​

$

(1,070)

​

$

103,626

​
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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2024 - Available for Sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Obligations of U.S. Government sponsored agencies

$

8,519

​

$

(272)

​

$

18,526

​

$

(3,072)

​

$

27,045

​

$

(3,344)

​

27

Obligations of states and political subdivisions

​

8,919

​

​

(96)

​

​

43,014

​

​

(5,930)

​

​

51,933

​

​

(6,026)

​

70

Mortgage-backed securities

 

7,116

​

 

(202)

​

 

27,532

​

 

(1,757)

​

 

34,648

​

 

(1,959)

 

107

Corporate notes

 

4,962

​

 

(35)

​

 

12,940

​

 

(1,593)

​

 

17,902

​

 

(1,628)

 

10

Totals

$

29,516

​

$

(605)

​

$

102,012

​

$

(12,352)

​

$

131,528

​

$

(12,957)

 

214

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2024 - Held to Maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury securities

$

49,015

​

$

(527)

​

$

30,465

​

$

(1,009)

​

$

79,480

​

$

(1,536)

​

51

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023 - Available for Sale

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

 

  

Obligations of U.S. Government sponsored agencies

$

6,519

​

$

(173)

​

$

19,519

​

$

(2,990)

​

$

26,038

​

$

(3,163)

​

24

Obligations of states and political subdivisions

​

6,806

​

​

(71)

​

​

40,959

​

​

(5,689)

​

​

47,765

​

​

(5,760)

​

65

Mortgage-backed securities

 

5,751

​

 

(95)

​

 

28,693

​

 

(1,569)

​

 

34,444

​

 

(1,664)

 

104

Corporate notes

 

4,926

​

 

(68)

​

 

12,487

​

 

(1,551)

​

 

17,413

​

 

(1,619)

 

9

Certificate of deposits

​

—

​

​

—

​

​

489

​

​

(1)

​

​

489

​

​

(1)

​

2

Totals

$

24,002

​

$

(407)

​

$

102,147

​

$

(11,800)

​

$

126,149

​

$

(12,207)

​

204

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023 - Held to Maturity

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

 

  

U.S. Treasury securities

$

31,785

​

$

(99)

​

$

35,362

​

$

(971)

​

$

67,147

​

$

(1,070)

​

49

Obligations of states and political subdivisions

 

—

​

 

—

​

 

220

​

 

—

​

 

220

​

 

—

​

1

Totals

$

31,785

​

$

(99)

​

$

35,582

​

$

(971)

​

$

67,367

​

$

(1,070)

​

50

​
Schedule of amortized cost and estimated fair value of securities by contract maturity

The following is a summary of amortized cost and estimated fair value of securities by contractual maturity as of March 31, 2024. 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

​

$

7,300

​

$

7,260

​

$

21,171

​

​

20,949

Due after one year through 5 years

​

 

16,975

​

 

16,651

​

​

54,677

​

​

53,663

Due after 5 years through 10 years

​

 

39,030

​

 

35,338

​

​

35,884

​

​

36,255

Due after 10 years

​

 

51,322

​

 

44,396

​

​

—

​

​

—

Subtotal

​

 

114,627

​

 

103,645

​

​

111,732

​

​

110,867

Mortgage-backed securities

​

 

36,733

​

 

34,775

​

​

—

​

​

—

Total

​

$

151,360

​

$

138,420

​

$

111,732

​

$

110,867