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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 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 of investment securities available-for-sale and securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses. Available for Sale Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value June 30, 2022 U.S. Government Treasury $ 189,686 $ - $ 11,791 $ - $ 177,895 U.S. Government Agency 219,936 336 9,588 - 210,684 States and Political Subdivisions 47,626 9 5,269 (9) 42,357 Mortgage-Backed Securities (1) 86,168 8 8,355 - 77,821 Corporate Debt Securities 92,936 - 7,593 (22) 85,321 Other Securities (2) 7,327 - - - 7,327 Total $ 643,679 $ 353 $ 42,596 $ (31) $ 601,405 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 June 30, 2022 U.S. Government Treasury $ 303,379 $ - $ 13,671 $ 289,708 Mortgage-Backed Securities (1) 224,879 66 15,690 209,255 Total $ 528,258 $ 66 $ 29,361 $ 498,963 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 June 30, 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 $ 34,031 $ 31,933 $ - $ - Due after one year through five years 316,240 296,327 303,379 289,708 Due after five year through ten years 59,474 51,323 - - Mortgage-Backed Securities 86,168 77,821 224,879 209,255 U.S. Government Agency 140,439 136,674 - - Equity Securities 7,327 7,327 - - Total $ 643,679 $ 601,405 $ 528,258 $ 498,963
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 June 30, 2022 Available for Sale U.S. Government Treasury $ 115,930 $ 7,757 $ 61,965 $ 4,034 $ 177,895 $ 11,791 U.S. Government Agency 129,675 7,137 43,349 2,451 173,024 9,588 States and Political Subdivisions 40,323 5,229 437 40 40,760 5,269 Mortgage-Backed Securities 73,829 7,909 3,801 446 77,630 8,355 Corporate Debt Securities 82,151 7,285 3,192 308 85,343 7,593 Total 441,908 35,317 112,744 7,279 554,652 42,596 Held to Maturity U.S. Government Treasury 284,789 13,375 4,919 296 289,708 13,671 Mortgage-Backed Securities 195,328 14,395 9,659 1,295 204,987 15,690 Total $ 480,117 $ 27,770 $ 14,578 $ 1,591 $ 494,695 $ 29,361 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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