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v3.22.2.2

SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Securities Available for Sale | Debt securities available-for-sale ("AFS") at September 30, 2022 and December 31, 2021 are as follows:
| September 30, 2022 |  | December 31, 2021
| Amortized |  | Unrealized |  | Fair |  | Amortized |  | Unrealized |  | Fair
| Cost |  | Gains |  | Losses |  | Value |  | Cost |  | Gains |  | Losses |  | Value
U.S. Government sponsored entities | $ | 3,166 |  |  | $ | 0 |  |  | $ | (88) |  |  | $ | 3,078 |  |  | $ | 110,788 |  |  | $ | 2,728 |  |  | $ | (1,768) |  |  | $ | 111,748 |
State & political subdivisions | 114,082 |  |  | 24 |  |  | (18,124) |  |  | 95,982 |  |  | 103,232 |  |  | 2,162 |  |  | (1,682) |  |  | 103,712 |
Residential & multi-family mortgage | 263,957 |  |  | 2 |  |  | (41,163) |  |  | 222,796 |  |  | 437,021 |  |  | 4,127 |  |  | (6,513) |  |  | 434,635 |
Corporate notes & bonds | 47,103 |  |  | 0 |  |  | (4,649) |  |  | 42,454 |  |  | 28,257 |  |  | 250 |  |  | (443) |  |  | 28,064 |
Pooled SBA | 15,208 |  |  | 0 |  |  | (1,282) |  |  | 13,926 |  |  | 18,787 |  |  | 283 |  |  | (38) |  |  | 19,032 |
Total | $ | 443,516 |  |  | $ | 26 |  |  | $ | (65,306) |  |  | $ | 378,236 |  |  | $ | 698,085 |  |  | $ | 9,550 |  |  | $ | (10,444) |  |  | $ | 697,191 |
Information pertaining to security sales on AFS securities is as follows:
| Proceeds |  | Gross Gains |  | Gross Losses
Three months ended September 30, 2022 | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Three months ended September 30, 2021 | 0 |  | 0 |  | 0
Nine months ended September 30, 2022 | 22,164 |  |  | 651 |  |  | 0 |
Nine months ended September 30, 2021 | 0 |  |  | 0 |  |  | 0 |
Schedule of Debt Securities Held-to-maturities | Debt securities held-to-maturity ("HTM") at September 30, 2022 and December 31, 2021 are as follows:
| September 30, 2022 |  | December 31, 2021
| Amortized |  | Unrealized |  | Fair |  | Amortized |  | Unrealized |  | Fair
| Cost |  | Gains |  | Losses |  | Value |  | Cost |  | Gains |  | Losses |  | Value
U.S. Government sponsored entities | $ | 307,672 |  |  | $ | 0 |  |  | $ | (28,325) |  |  | $ | 279,347 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Residential & multi-family mortgage | 100,537 |  |  | 0 |  |  | (10,782) |  |  | 89,755 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Total | $ | 408,209 |  |  | $ | 0 |  |  | $ | (39,107) |  |  | $ | 369,102 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
HTM debt securities with unrealized losses at September 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: September 30, 2022
| Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Government sponsored entities | $ | 225,598 |  |  | $ | (20,668) |  |  | $ | 53,749 |  |  | $ | (7,657) |  |  | $ | 279,347 |  |  | $ | (28,325) |
Residential & multi-family mortgage | 45,766 |  |  | (4,417) |  |  | 43,989 |  |  | (6,365) |  |  | 89,755 |  |  | (10,782) |
| $ | 271,364 |  |  | $ | (25,085) |  |  | $ | 97,738 |  |  | $ | (14,022) |  |  | $ | 369,102 |  |  | $ | (39,107) |
December 31, 2021
| Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Government sponsored entities | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Residential & multi-family mortgage | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
| $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Schedule of Maturity Distribution of Debt Securities at Amortized Cost and Fair Value | The table below illustrates the maturity distribution of debt securities at amortized cost and fair value as of September 30, 2022:
| Available-for-sale |  | Held-to-maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
1 year or less | $ | 4,744 |  |  | $ | 4,722 |  |  | $ | 5,092 |  |  | $ | 4,972 |
1 year – 5 years | 40,445 |  |  | 38,367 |  |  | 242,851 |  |  | 224,129 |
5 years – 10 years | 91,164 |  |  | 77,651 |  |  | 54,242 |  |  | 45,773 |
After 10 years | 27,998 |  |  | 20,774 |  |  | 5,487 |  |  | 4,473 |
| 164,351 |  |  | 141,514 |  |  | 307,672 |  |  | 279,347 |
Residential & multi-family mortgage | 263,957 |  |  | 222,796 |  |  | 100,537 |  |  | 89,755 |
Pooled SBA | 15,208 |  |  | 13,926 |  |  | 0 |  |  | 0 |
Total debt securities | $ | 443,516 |  |  | $ | 378,236 |  |  | $ | 408,209 |  |  | $ | 369,102 |
Available-for-sale Securities with Unrealized Loss Position | AFS debt securities with unrealized losses at September 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: September 30, 2022
| Less than 12 Months |  | 12 Months or More |  | Total
Description of Securities | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Government sponsored entities | $ | 3,078 |  |  | $ | (88) |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 3,078 |  |  | $ | (88) |
State & political subdivisions | 44,052 |  |  | (5,329) |  |  | 45,418 |  |  | (12,795) |  |  | 89,470 |  |  | (18,124) |
Residential & multi-family mortgage | 78,017 |  |  | (7,116) |  |  | 144,421 |  |  | (34,047) |  |  | 222,438 |  |  | (41,163) |
Corporate notes & bonds | 34,567 |  |  | (3,750) |  |  | 6,887 |  |  | (899) |  |  | 41,454 |  |  | (4,649) |
Pooled SBA | 11,334 |  |  | (955) |  |  | 2,592 |  |  | (327) |  |  | 13,926 |  |  | (1,282) |
| $ | 171,048 |  |  | $ | (17,238) |  |  | $ | 199,318 |  |  | $ | (48,068) |  |  | $ | 370,366 |  |  | $ | (65,306) |
December 31, 2021
| Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
U.S. Government sponsored entities | $ | 23,733 |  |  | $ | (553) |  |  | $ | 37,911 |  |  | $ | (1,215) |  |  | $ | 61,644 |  |  | $ | (1,768) |
State & political subdivisions | 55,636 |  |  | (1,399) |  |  | 5,026 |  |  | (283) |  |  | 60,662 |  |  | (1,682) |
Residential & multi-family mortgage | 248,690 |  |  | (4,837) |  |  | 45,185 |  |  | (1,676) |  |  | 293,875 |  |  | (6,513) |
Corporate notes & bonds | 6,466 |  |  | (249) |  |  | 3,806 |  |  | (194) |  |  | 10,272 |  |  | (443) |
Pooled SBA | 4,394 |  |  | (37) |  |  | 127 |  |  | (1) |  |  | 4,521 |  |  | (38) |
| $ | 338,919 |  |  | $ | (7,075) |  |  | $ | 92,055 |  |  | $ | (3,369) |  |  | $ | 430,974 |  |  | $ | (10,444) |
Trading Securities | Equity securities at September 30, 2022 and December 31, 2021 are as follows:
| September 30, 2022 |  | December 31, 2021
Corporate equity securities | $ | 5,995 |  |  | $ | 6,715 |
Mutual funds | 2,582 |  |  | 2,566 |
Certificates of deposit | 0 |  | 506 |
Corporate notes and bonds | 658 |  |  | 579 |
Total | $ | 9,235 |  |  | $ | 10,366 |

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