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INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2022
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 fair value securities available-for-sale and securities held-to-maturity and the corresponding amounts of gross Available for Sale Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value March 31, 2022 U.S. Government Treasury $ 190,049 $ 15 $ 10,051 $ - $ 180,013 U.S. Government Agency 232,067 547 8,179 - 224,435 States and Political Subdivisions 47,107 11 3,753 (15) 43,350 Mortgage-Backed Securities (1) 91,169 15 5,121 - 86,063 Corporate Debt Securities 88,208 4 5,018 (21) 83,173 Other Securities (2) 7,327 - - - 7,327 Total $ 655,927 $ 592 $ 32,122 $ (36) $ 624,361 December 31, 2021 U.S. Government Treasury $ 190,409 $ 65 $ 2,606 $ - $ 187,868 U.S. Government Agency 238,490 1,229 2,141 - 237,578 States and Political Subdivisions 47,762 44 811 (15) 46,980 Mortgage-Backed Securities (1) 89,440 27 598 - 88,869 Corporate Debt Securities 87,537 10 1,304 (21) 86,222 Other Securities (2) 7,094 - - - 7,094 Total $ 660,732 $ 1,375 $ 7,460 $ (36) $ 654,611 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value March 31, 2022 U.S. Government Treasury $ 289,237 $ 10 $ 9,355 $ 279,892 Mortgage-Backed Securities (1) 229,441 414 8,470 221,385 Total $ 518,678 $ 424 $ 17,825 $ 501,277 December 31, 2021 U.S. Government Treasury $ 115,499 $ - $ 1,622 $ 113,877 Mortgage-Backed Securities (1) 224,102 2,819 1,099 225,822 Total $ 339,601 $ 2,819 $ 2,721 $ 339,699 (1) Comprised of residential mortgage-backed securities (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded at cost of $ 2.3 million and $ 5.1 million, respectively, at March 31, 2022 and $ 2.0 million and $ 5.1 million, respectively, at December 31, 2021.
Schedule of investment securities with maturity distribution based on contractual maturities | Available for Sale Held to Maturity (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 36,321 $ 34,519 $ - $ - Due after one year through five years 306,432 290,613 289,237 279,892 Due after five year through ten years 62,103 56,445 - - Mortgage-Backed Securities 91,169 86,063 229,441 221,385 U.S. Government Agency 152,575 149,394 - - Equity Securities 7,327 7,327 - - Total $ 655,927 $ 624,361 $ 518,678 $ 501,277
Schedule of investment securities with continuous unrealized loss position | Less Than Greater Than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses March 31, 2022 Available for Sale U.S. Government Treasury $ 117,369 $ 6,723 $ 57,638 $ 3,328 $ 175,007 $ 10,051 U.S. Government Agency 122,572 5,952 43,637 2,227 166,209 8,179 States and Political Subdivisions 42,181 3,719 444 34 42,625 3,753 Mortgage-Backed Securities 85,848 5,121 - - 85,848 5,121 Corporate Debt Securities 79,718 5,018 - - 79,718 5,018 Total 447,688 26,533 101,719 5,589 549,407 32,122 Held to Maturity U.S. Government Treasury 261,362 9,355 - - 261,362 9,355 Mortgage-Backed Securities 166,472 7,633 10,496 837 176,968 8,470 Total $ 427,834 $ 16,988 $ 10,496 $ 837 $ 438,330 $ 17,825 December 31, 2021 Available for Sale U.S. Government Treasury $ 172,206 $ 2,606 $ - $ - $ 172,206 $ 2,606 U.S. Government Agency 127,484 1,786 17,986 355 145,470 2,141 States and Political Subdivisions 42,122 811 - - 42,122 811 Mortgage-Backed Securities 81,832 598 - - 81,832 598 Corporate Debt Securities 69,354 1,304 - - 69,354 1,304 Total $ 492,998 $ 7,105 $ 17,986 $ 355 $ 510,984 $ 7,460 Held to Maturity U.S. Government Treasury 113,877 1,622 - - 113,877 1,622 Mortgage-Backed Securities 115,015 1,099 - - 115,015 1,099 Total $ 228,892 $ 2,721 $ - $ - $ 228,892 $ 2,721

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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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