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v3.23.2

SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Securities Available for Sale | Debt securities available-for-sale ("AFS") at June 30, 2023 and December 31, 2022 were as follows:
| June 30, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 3,074 |  |  | $ | — |  |  | $ | (80) |  |  | $ | — |  |  | $ | 2,994 |
State & political subdivisions | 107,396 |  |  | 8 |  |  | (14,928) |  |  | — |  |  | 92,476 |
Residential & multi-family mortgage | 240,874 |  |  | — |  |  | (37,442) |  |  | — |  |  | 203,432 |
Corporate notes & bonds | 48,779 |  |  | 9 |  |  | (5,931) |  |  | — |  |  | 42,857 |
Pooled SBA | 12,413 |  |  | — |  |  | (1,036) |  |  | — |  |  | 11,377 |
Total | $ | 412,536 |  |  | $ | 17 |  |  | $ | (59,417) |  |  | $ | — |  |  | $ | 353,136 |
| 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 June 30, 2023 | $ | 3,492 |  |  | $ | 30 |  |  | $ | — |
Three months ended June 30, 2022 | — |  |  | — |  |  | — |
Six months ended June 30, 2023 | 13,151 |  |  | 52 |  |  | — |
Six months ended June 30, 2022 | 22,164 |  |  | 651 |  |  | — |
Schedule of Debt Securities Held-to-maturities | Debt securities held-to-maturity ("HTM") at June 30, 2023 and December 31, 2022 were as follows:
| June 30, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 302,798 |  |  | $ | — |  |  | $ | (25,781) |  |  | $ | — |  |  | $ | 277,017 |
Residential & multi-family mortgage | 91,440 |  |  | — |  |  | (9,651) |  |  | — |  |  | 81,789 |
Total | $ | 394,238 |  |  | $ | — |  |  | $ | (35,432) |  |  | $ | — |  |  | $ | 358,806 |
| 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 June 30, 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: June 30, 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 | $ | — |  |  | $ | — |  |  | $ | 277,017 |  |  | $ | (25,781) |  |  | $ | 277,017 |  |  | $ | (25,781) |
Residential & multi-family mortgage | 1,158 |  |  | (244) |  |  | 80,631 |  |  | (9,407) |  |  | 81,789 |  |  | (9,651) |
| $ | 1,158 |  |  | $ | (244) |  |  | $ | 357,648 |  |  | $ | (35,188) |  |  | $ | 358,806 |  |  | $ | (35,432) |
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 June 30, 2023:
| Available-for-sale |  | Held-to-maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
1 year or less | $ | 7,839 |  |  | $ | 7,754 |  |  | $ | 19,912 |  |  | $ | 19,299 |
1 year – 5 years | 45,110 |  |  | 42,446 |  |  | 232,093 |  |  | 214,648 |
5 years – 10 years | 83,578 |  |  | 70,916 |  |  | 50,793 |  |  | 43,070 |
After 10 years | 22,722 |  |  | 17,211 |  |  | — |  |  | — |
| 159,249 |  |  | 138,327 |  |  | 302,798 |  |  | 277,017 |
Residential & multi-family mortgage | 240,874 |  |  | 203,432 |  |  | 91,440 |  |  | 81,789 |
Pooled SBA | 12,413 |  |  | 11,377 |  |  | — |  |  | — |
Total debt securities | $ | 412,536 |  |  | $ | 353,136 |  |  | $ | 394,238 |  |  | $ | 358,806 |
Available-for-sale Securities with Unrealized Loss Position | AFS debt securities with unrealized losses at June 30, 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: June 30, 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 | $ | 1,478 |  |  | $ | (5) |  |  | $ | 1,516 |  |  | $ | (75) |  |  | $ | 2,994 |  |  | $ | (80) |
State & political subdivisions | 12,482 |  |  | (194) |  |  | 77,811 |  |  | (14,734) |  |  | 90,293 |  |  | (14,928) |
Residential & multi-family mortgage | 7,833 |  |  | (356) |  |  | 195,504 |  |  | (37,086) |  |  | 203,337 |  |  | (37,442) |
Corporate notes and bonds | 10,624 |  |  | (905) |  |  | 31,225 |  |  | (5,026) |  |  | 41,849 |  |  | (5,931) |
Pooled SBA | 643 |  |  | (12) |  |  | 10,734 |  |  | (1,024) |  |  | 11,377 |  |  | (1,036) |
| $ | 33,060 |  |  | $ | (1,472) |  |  | $ | 316,790 |  |  | $ | (57,945) |  |  | $ | 349,850 |  |  | $ | (59,417) |
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) |
Schedule of Trading Securities | Equity securities at June 30, 2023 and December 31, 2022 were as follows:
| June 30, 2023 |  | December 31, 2022
Corporate equity securities | $ | 5,633 |  |  | $ | 6,973 |
Mutual funds | 2,196 |  |  | 1,406 |
Money market funds | 738 |  | 479 |
Corporate notes | 699 |  |  | 757 |
Total | $ | 9,266 |  |  | $ | 9,615 |

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