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INVESTMENT SECURITIES | 9 Months Ended
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Sep. 30, 2021
INVESTMENT SECURITIES |
INVESTMENT SECURITIES | NOTE 5: INVESTMENT SECURITIES The amortized cost and fair values of securities classified as available-for-sale were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2021
​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | Value
​ |  | (In Thousands)
AVAILABLE-FOR-SALE SECURITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency mortgage-backed securities |  | $ | 157,316 |  | $ | 12,402 |  | $ | 898 |  | $ | 168,820
Agency collateralized mortgage obligations | ​ | ​ | 203,680 | ​ | ​ | 3,688 | ​ | ​ | 1,637 | ​ | ​ | 205,731
States and political subdivisions | ​ | ​ | 38,571 | ​ | ​ | 1,582 | ​ | ​ | 116 | ​ | ​ | 40,037
Small Business Administration securities | ​ | ​ | 17,781 | ​ | ​ | 569 | ​ | ​ | — | ​ | ​ | 18,350
​ |  | $ | 417,348 |  | $ | 18,241 |  | $ | 2,651 |  | $ | 432,938
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020
​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ |  | Cost |  | Gains |  | Losses |  | Value
​ |  | (In Thousands)
AVAILABLE-FOR-SALE SECURITIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Agency mortgage-backed securities |  | $ | 151,106 |  | $ | 19,665 |  | $ | 831 |  | $ | 169,940
Agency collateralized mortgage obligations | ​ | ​ | 168,472 | ​ | ​ | 8,524 | ​ | ​ | 375 | ​ | ​ | 176,621
States and political subdivisions | ​ | ​ | 45,196 | ​ | ​ | 2,135 | ​ | ​ | 6 | ​ | ​ | 47,325
Small Business Administration securities | ​ | ​ | 20,033 | ​ | ​ | 1,014 | ​ | ​ | — | ​ | ​ | 21,047
​ |  | $ | 384,807 |  | $ | 31,338 |  | $ | 1,212 |  | $ | 414,933
​ The amortized cost and fair value of available-for-sale securities at September 30, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized |  | Fair
​ | ​ | Cost | ​ | Value
​ | ​ | (In Thousands)
One year or less |  | $ | — |  | $ | —
After one through five years | ​ | ​ | 1,002 | ​ | ​ | 1,045
After five through ten years | ​ | ​ | 9,202 | ​ | ​ | 9,882
After ten years | ​ | ​ | 28,367 | ​ | ​ | 29,110
Securities not due on a single maturity date | ​ | ​ | 378,777 | ​ | ​ | 392,901
​ |  | $ | 417,348 |  | $ | 432,938
​ There were no securities classified as held to maturity at September 30, 2021 or December 31, 2020. Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at September 30, 2021 and December 31, 2020, was approximately $99.0 million and $24.2 million, respectively, which is approximately 22.9% and 5.8% of the Company’s available-for-sale investment portfolio, respectively. Based on an evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes any declines in fair value for these debt securities are temporary. The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2021 and December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
Description of Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
​ |  | (In Thousands)
Agency mortgage-backed securities |  | $ | 10,084 |  | $ | (898) |  | $ | — |  | $ | — |  | $ | 10,084 |  | $ | (898)
Agency collateralized mortgage obligations | ​ | ​ | 67,941 | ​ | ​ | (963) | ​ | ​ | 12,418 | ​ | ​ | (674) | ​ | ​ | 80,359 | ​ | ​ | (1,637)
States and political subdivisions securities | ​ | ​ | 8,578 | ​ | ​ | (116) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,578 | ​ | ​ | (116)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | $ | 86,603 |  | $ | (1,977) |  | $ | 12,418 |  | $ | (674) |  | $ | 99,021 |  | $ | (2,651)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
Description of Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
​ |  | (In Thousands)
Agency mortgage-backed securities |  | $ | 10,279 |  | $ | (831) |  | $ | — |  | $ | — |  | $ | 10,279 |  | $ | (831)
Agency collateralized mortgage obligations | ​ | ​ | 12,727 | ​ | ​ | (375) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12,727 | ​ | ​ | (375)
Small Business Administration securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
States and political subdivisions securities | ​ | ​ | 1,164 | ​ | ​ | (6) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,164 | ​ | ​ | (6)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | $ | 24,170 |  | $ | (1,212) |  | $ | — |  | $ | — |  | $ | 24,170 |  | $ | (1,212)
​ There were no sales of available-for-sale securities during the three or nine months ended September 30, 2021. There were no sales of available-for-sale securities during the three months ended September 30, 2020.Gross gains of $78,000 resulting from sales of available-for-sale securities were realized during the nine months ended September 30, 2020. Gains and losses on sales of securities are determined on the specific-identification method. Allowance for Credit Losses On January 1, 2021, the Company began evaluating all securities quarterly to determine if any securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments. All of the mortgage-backed, collateralized mortgage, and SBA securities held by the Company are issued by U.S. government-sponsored entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not experienced historical losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities. Regarding securities issued by state and political subdivisions, management considers the following when evaluating these securities: (i) current issuer bond ratings, (ii) historical loss rates for given bond ratings, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) updated financial information of the issuer, (v) internal forecasts and (vi) whether such securities provide insurance or other credit enhancement or are pre-refunded by the issuers. These securities are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not experienced historical losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities. Amounts Reclassified Out of Accumulated Other Comprehensive Income. There were no amounts reclassified from accumulated other comprehensive income during the three or nine months ended September 30, 2021 and 2020.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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