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v3.23.3

SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Securities Available for Sale | Debt securities available-for-sale ("AFS") at September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 3,887 |  |  | $ | — |  |  | $ | (62) |  |  | $ | — |  |  | $ | 3,825 |
State & political subdivisions | 106,651 |  |  | — |  |  | (18,215) |  |  | — |  |  | 88,436 |
Residential & multi-family mortgage | 233,464 |  |  | — |  |  | (44,355) |  |  | — |  |  | 189,109 |
Corporate notes & bonds | 48,639 |  |  | 4 |  |  | (5,737) |  |  | — |  |  | 42,906 |
Pooled SBA | 12,047 |  |  | — |  |  | (1,201) |  |  | — |  |  | 10,846 |
Total | $ | 404,688 |  |  | $ | 4 |  |  | $ | (69,570) |  |  | $ | — |  |  | $ | 335,122 |
| 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 September 30, 2023 | $ | — |  |  | $ | — |  |  | $ | — |
Three months ended September 30, 2022 | — |  |  | — |  |  | — |
Nine months ended September 30, 2023 | 13,151 |  |  | 52 |  |  | — |
Nine months ended September 30, 2022 | 22,164 |  |  | 651 |  |  | — |
Schedule of Debt Securities Held-to-maturities | Debt securities held-to-maturity ("HTM") at September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023
| Amortized |  | Unrealized |  | Allowance For |  | Fair
| Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
U.S. Government sponsored entities | $ | 302,871 |  |  | $ | — |  |  | $ | (26,628) |  |  | $ | — |  |  | $ | 276,243 |
Residential & multi-family mortgage | 88,430 |  |  | — |  |  | (12,604) |  |  | — |  |  | 75,826 |
Total | $ | 391,301 |  |  | $ | — |  |  | $ | (39,232) |  |  | $ | — |  |  | $ | 352,069 |
| 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 September 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: September 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 | $ | — |  |  | $ | — |  |  | $ | 276,243 |  |  | $ | (26,628) |  |  | $ | 276,243 |  |  | $ | (26,628) |
Residential & multi-family mortgage | — |  |  | — |  |  | 75,826 |  |  | (12,604) |  |  | 75,826 |  |  | (12,604) |
| $ | — |  |  | $ | — |  |  | $ | 352,069 |  |  | $ | (39,232) |  |  | $ | 352,069 |  |  | $ | (39,232) |
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 September 30, 2023:
| Available-for-sale |  | Held-to-maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
1 year or less | $ | 10,533 |  |  | $ | 10,388 |  |  | $ | 53,827 |  |  | $ | 52,288 |
1 year – 5 years | 43,540 |  |  | 40,467 |  |  | 203,661 |  |  | 186,750 |
5 years – 10 years | 82,397 |  |  | 68,505 |  |  | 45,383 |  |  | 37,205 |
After 10 years | 22,707 |  |  | 15,807 |  |  | — |  |  | — |
| 159,177 |  |  | 135,167 |  |  | 302,871 |  |  | 276,243 |
Residential & multi-family mortgage | 233,464 |  |  | 189,109 |  |  | 88,430 |  |  | 75,826 |
Pooled SBA | 12,047 |  |  | 10,846 |  |  | — |  |  | — |
Total debt securities | $ | 404,688 |  |  | $ | 335,122 |  |  | $ | 391,301 |  |  | $ | 352,069 |
Available-for-sale Securities with Unrealized Loss Position | AFS debt securities with unrealized losses at September 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: September 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 | $ | 389 |  |  | $ | (5) |  |  | $ | 1,536 |  |  | $ | (57) |  |  | $ | 1,925 |  |  | $ | (62) |
State & political subdivisions | 2,944 |  |  | (20) |  |  | 85,246 |  |  | (18,195) |  |  | 88,190 |  |  | (18,215) |
Residential & multi-family mortgage | 210 |  |  | (6) |  |  | 188,812 |  |  | (44,349) |  |  | 189,022 |  |  | (44,355) |
Corporate notes and bonds | 1,770 |  |  | (230) |  |  | 40,477 |  |  | (5,507) |  |  | 42,247 |  |  | (5,737) |
Pooled SBA | — |  |  | — |  |  | 10,754 |  |  | (1,201) |  |  | 10,754 |  |  | (1,201) |
| $ | 5,313 |  |  | $ | (261) |  |  | $ | 326,825 |  |  | $ | (69,309) |  |  | $ | 332,138 |  |  | $ | (69,570) |
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 September 30, 2023 and December 31, 2022 were as follows:
| September 30, 2023 |  | December 31, 2022
Corporate equity securities | $ | 5,327 |  |  | $ | 6,973 |
Mutual funds | 2,086 |  |  | 1,406 |
Money market funds | 865 |  | 479 |
Corporate notes | 670 |  |  | 757 |
Total | $ | 8,948 |  |  | $ | 9,615 |

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