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v3.23.1

SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Securities Available for Sale | Debt securities available-for-sale ("AFS") at March 31, 2023 and December 31, 2022 were as follows:
| March 31, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 2,474 |  |  | $ | — |  |  | $ | (86) |  |  | $ | — |  |  | $ | 2,388 |
State & political subdivisions | 111,090 |  |  | 69 |  |  | (13,921) |  |  | — |  |  | 97,238 |
Residential & multi-family mortgage | 247,957 |  |  | — |  |  | (34,150) |  |  | — |  |  | 213,807 |
Corporate notes & bonds | 48,119 |  |  | 19 |  |  | (5,329) |  |  | — |  |  | 42,809 |
Pooled SBA | 13,280 |  |  | 1 |  |  | (916) |  |  | — |  |  | 12,365 |
Total | $ | 422,920 |  |  | $ | 89 |  |  | $ | (54,402) |  |  | $ | — |  |  | $ | 368,607 |
| December 31, 2022
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 3,213 |  |  | $ | — |  |  | $ | (84) |  |  | $ | — |  |  | $ | 3,129 |
State & political subdivisions | 112,734 |  |  | 24 |  |  | (17,095) |  |  | — |  |  | 95,663 |
Residential & multi-family mortgage | 256,111 |  |  | — |  |  | (38,564) |  |  | — |  |  | 217,547 |
Corporate notes & bonds | 47,111 |  |  | — |  |  | (4,720) |  |  | — |  |  | 42,391 |
Pooled SBA | 13,823 |  |  | — |  |  | (1,144) |  |  | — |  |  | 12,679 |
Total | $ | 432,992 |  |  | $ | 24 |  |  | $ | (61,607) |  |  | $ | — |  |  | $ | 371,409 |
Information pertaining to security sales on AFS securities is as follows:
| Proceeds |  | Gross Gains |  | Gross Losses
Three months ended March 31, 2023 | $ | 9,659 |  |  | $ | 22 |  |  | $ | — |
Three months ended March 31, 2022 | 22,164 |  | 651 |  | — |
Schedule of Debt Securities Held-to-maturities | Debt securities held-to-maturity ("HTM") at March 31, 2023 and December 31, 2022 were as follows:
| March 31, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 307,750 |  |  | $ | — |  |  | $ | (22,650) |  |  | $ | — |  |  | $ | 285,100 |
Residential & multi-family mortgage | 94,550 |  |  | — |  |  | (7,915) |  |  | — |  |  | 86,635 |
Total | $ | 402,300 |  |  | $ | — |  |  | $ | (30,565) |  |  | $ | — |  |  | $ | 371,735 |
| December 31, 2022
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 307,711 |  |  | $ | — |  |  | $ | (27,276) |  |  | $ | — |  |  | $ | 280,435 |
Residential & multi-family mortgage | 97,054 |  |  | — |  |  | (10,101) |  |  | — |  |  | 86,953 |
Total | $ | 404,765 |  |  | $ | — |  |  | $ | (37,377) |  |  | $ | — |  |  | $ | 367,388 |
HTM debt securities with unrealized losses at March 31, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: March 31, 2023
| 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 | $ | — |  |  | $ | — |  |  | $ | 285,100 |  |  | $ | (22,650) |  |  | $ | 285,100 |  |  | $ | (22,650) |
Residential & multi-family mortgage | 1,404 |  |  | (209) |  |  | 85,231 |  |  | (7,706) |  |  | 86,635 |  |  | (7,915) |
| $ | 1,404 |  |  | $ | (209) |  |  | $ | 370,331 |  |  | $ | (30,356) |  |  | $ | 371,735 |  |  | $ | (30,565) |
December 31, 2022
| 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 | $ | 143,556 |  |  | $ | (10,063) |  |  | $ | 136,879 |  |  | $ | (17,213) |  |  | $ | 280,435 |  |  | $ | (27,276) |
Residential & multi-family mortgage | 24,132 |  |  | (2,253) |  |  | 62,821 |  |  | (7,848) |  |  | 86,953 |  |  | (10,101) |
| $ | 167,688 |  |  | $ | (12,316) |  |  | $ | 199,700 |  |  | $ | (25,061) |  |  | $ | 367,388 |  |  | $ | (37,377) |
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 March 31, 2023:
| Available-for-sale |  | Held-to-maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
1 year or less | $ | 4,174 |  |  | $ | 4,141 |  |  | $ | 10,010 |  |  | $ | 9,828 |
1 year – 5 years | 43,399 |  |  | 41,298 |  |  | 246,949 |  |  | 231,452 |
5 years – 10 years | 90,274 |  |  | 78,510 |  |  | 50,791 |  |  | 43,820 |
After 10 years | 23,836 |  |  | 18,486 |  |  | — |  |  | — |
| 161,683 |  |  | 142,435 |  |  | 307,750 |  |  | 285,100 |
Residential & multi-family mortgage | 247,957 |  |  | 213,807 |  |  | 94,550 |  |  | 86,635 |
Pooled SBA | 13,280 |  |  | 12,365 |  |  | — |  |  | — |
Total debt securities | $ | 422,920 |  |  | $ | 368,607 |  |  | $ | 402,300 |  |  | $ | 371,735 |
Available-for-sale Securities with Unrealized Loss Position | AFS debt securities with unrealized losses at March 31, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: March 31, 2023
| 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 | $ | 2,388 |  |  | $ | (86) |  |  | $ | — |  |  | $ | — |  |  | $ | 2,388 |  |  | $ | (86) |
State & political subdivisions | 9,958 |  |  | (88) |  |  | 78,035 |  |  | (13,833) |  |  | 87,993 |  |  | (13,921) |
Residential & multi-family mortgage | 17,227 |  |  | (568) |  |  | 196,478 |  |  | (33,582) |  |  | 213,705 |  |  | (34,150) |
Corporate notes and bonds | 24,380 |  |  | (3,013) |  |  | 17,410 |  |  | (2,316) |  |  | 41,790 |  |  | (5,329) |
Pooled SBA | 596 |  |  | (6) |  |  | 11,638 |  |  | (910) |  |  | 12,234 |  |  | (916) |
| $ | 54,549 |  |  | $ | (3,761) |  |  | $ | 303,561 |  |  | $ | (50,641) |  |  | $ | 358,110 |  |  | $ | (54,402) |
December 31, 2022
| 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 | $ | 3,129 |  |  | $ | (84) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,129 |  |  | $ | (84) |
State & political subdivisions | 34,667 |  |  | (1,887) |  |  | 54,546 |  |  | (15,208) |  |  | 89,213 |  |  | (17,095) |
Residential & multi-family mortgage | 48,996 |  |  | (3,122) |  |  | 168,551 |  |  | (35,442) |  |  | 217,547 |  |  | (38,564) |
Corporate notes and bonds | 31,730 |  |  | (3,403) |  |  | 10,661 |  |  | (1,317) |  |  | 42,391 |  |  | (4,720) |
Pooled SBA | 5,107 |  |  | (314) |  |  | 7,572 |  |  | (830) |  |  | 12,679 |  |  | (1,144) |
| $ | 123,629 |  |  | $ | (8,810) |  |  | $ | 241,330 |  |  | $ | (52,797) |  |  | $ | 364,959 |  |  | $ | (61,607) |
Trading Securities | Equity securities at March 31, 2023 and December 31, 2022 were as follows:
| March 31, 2023 |  | December 31, 2022
Corporate equity securities | $ | 5,843 |  |  | $ | 6,973 |
Mutual funds | 2,101 |  |  | 1,406 |
Money market funds | 765 |  | 479 |
Corporate notes | 707 |  |  | 757 |
Total | $ | 9,416 |  |  | $ | 9,615 |

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