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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Sep. 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. September 30, 2021 December 31, 2020 Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market (Dollars in Thousands) Cost Gains Losses Value Cost Gain Losses Value Available for Sale U.S. Government Treasury $ 164,806 $ 90 $ 849 $ 164,047 $ 103,547 $ 972 $ - $ 104,519 U.S. Government Agency 249,649 1,793 970 250,472 205,972 2,743 184 208,531 States and Political Subdivisions 43,834 69 357 43,546 3,543 89 - 3,632 Mortgage-Backed Securities (1) 97,131 240 164 97,207 456 59 - 515 Corporate Debt Securities 84,331 13 567 83,777 - - - - Equity Securities (2) 6,795 - - 6,795 7,673 - - 7,673 Total $ 646,546 $ 2,205 $ 2,907 $ 645,844 $ 321,191 $ 3,863 $ 184 $ 324,870 Held to Maturity U.S. Government Treasury $ 115,903 $ - $ 348 $ 115,555 $ 5,001 $ 13 $ - $ 5,014 Mortgage-Backed Securities 225,325 3,941 536 228,730 164,938 5,223 - 170,161 Total $ 341,228 $ 3,941 $ 884 $ 344,285 $ 169,939 $ 5,236 $ - $ 175,175 Total Investment Securities $ 987,774 $ 6,146 $ 3,791 $ 990,129 $ 491,130 $ 9,099 $ 184 $ 500,045 (1) Comprised of residential mortgage-backed securities (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded at cost of $ 2.0 million and $ 4.8 million, respectively, at September 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 $ 39,614 $ 39,423 $ - $ - Due after one year through five years 264,747 263,661 115,903 115,555 Due after five year through ten years 66,347 65,614 - - Mortgage-Backed Securities 97,131 97,207 225,325 228,730 U.S. Government Agency 171,912 173,144 - - Equity Securities 6,795 6,795 - - Total $ 646,546 $ 645,844 $ 341,228 $ 344,285
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 September 30, 2021 Available for Sale U.S. Government Treasury $ 143,394 $ 849 $ - $ - $ 143,394 $ 849 U.S. Government Agency 118,969 859 12,168 111 131,137 970 States and Political Subdivisions 27,355 357 - - 27,355 357 Mortgage-Backed Securities 40,012 164 - - 40,012 164 Corporate Debt Securities 57,304 567 - - 57,304 567 Total 387,034 2,796 12,168 111 399,202 2,907 Held to Maturity U.S. Government Treasury 115,555 348 - - 115,555 348 Mortgage-Backed Securities 93,023 536 - - 93,023 536 Total $ 208,578 $ 884 $ - $ - $ 208,578 $ 884 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 investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + 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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- 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=123581744&loc=d3e27290-111563 + Details
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