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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2021
Investments Securities [Abstract] |
Schedule of amortized cost and related market value of investment securities available-for-sale | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related market value of investment securities available-for-sale and securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses. June 30, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market Cost Gains Losses Value Cost Gain Losses Value Available for Sale U.S. Government Treasury $ 161,247 $ 220 $ 590 $ 160,877 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 226,807 2,087 593 228,301 205,972 2,743 184 208,531 States and Political Subdivisions 13,555 60 8 13,607 3,543 89 - 3,632 Mortgage-Backed Securities 56,894 56 - 56,950 456 59 - 515 Corporate Debt Securities 14,357 3 - 14,360 - - - - Equity Securities (1) 6,795 - - 6,795 7,673 - - 7,673 Total $ 479,655 $ 2,426 $ 1,191 $ 480,890 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ 110,926 $ 59 $ 64 $ 110,921 $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 214,633 4,579 252 218,960 164,938 5,223 - 170,161 Total $ 325,559 $ 4,638 $ 316 $ 329,881 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment Securities $ 805,214 $ 7,064 $ 1,507 $ 810,771 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded at cost of $ 2.0 million and $ 4.8 million, respectively, at June 30, 2021 and includes Federal Home Loan Bank and Federal Reserve Bank stock recorded at cost of $ 2.9 million and $ 4.8 million, respectively, at December 31, 2020.
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Sale Held to Maturity (Dollars in Thousands) Amortized Cost Market Value Amortized Cost Market Value Due in one year or less $ 52,053 $ 52,075 $ - $ - Due after one year through five years 170,442 169,879 110,926 110,921 Due after five year through ten years 17,645 17,620 - - Mortgage-Backed Securities 56,894 56,950 214,633 218,960 U.S. Government Agency 175,826 177,571 - - Equity Securities 6,795 6,795 - - Total $ 479,655 $ 480,890 $ 325,559 $ 329,881
Schedule of investment securities with continuous unrealized loss position | Less Than Greater Than 12 Months 12 Months Total Market Unrealized Market Unrealized Market Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses June 30, 2021 Available for Sale U.S. Government Treasury $ 114,398 $ 590 $ - $ - $ 114,398 $ 590 U.S. Government Agency 84,107 530 8,906 63 93,013 593 States and Political Subdivisions 3,394 8 - - 3,394 8 Total 201,899 1,128 8,906 63 210,805 1,191 Held to Maturity U.S. Government Treasury 57,803 64 - - 57,803 64 Mortgage-Backed Securities 51,208 252 - - 51,208 252 Total $ 109,011 $ 316 $ - $ - $ 109,011 $ 316 December 31, 2020 Available for Sale U.S. Government Agency $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184 Total $ 28,266 $ 156 $ 4,670 $ 28 $ 32,936 $ 184

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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- References No definition available. + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
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