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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments

Amortized cost and fair value at December 31, 2020 and 2019, were as follows:

In thousands			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
SECURITIES AVAILABLE FOR SALE
December 31, 2020
U.S. Government and agencies			$	181,704					$	2,117					$	218					$	183,603
Mortgage-backed securities, residential			105,327						3,529						34						108,822
State and municipal			35,930						561						7						36,484
Corporate bonds			8,784						41						16						8,809
			$	331,745					$	6,248					$	275					$	337,718
December 31, 2019
U.S. Government and agencies			$	113,569					$	849					$	169					$	114,249
Mortgage-backed securities, residential			64,699						980						87						65,592
State and municipal			10,940						70						14						10,996
			$	189,208					$	1,899					$	270					$	190,837
SECURITIES HELD TO MATURITY
December 31, 2020
Mortgage-backed securities, residential			$	10,294					$	474					$	—					$	10,768
			$	10,294					$	474					$	—					$	10,768
December 31, 2019
U.S. Government and agencies			$	4,000					$	8					$	—					$	4,008
Mortgage-backed securities, residential			15,234						76						37						15,273
			$	19,234					$	84					$	37					$	19,281

The fair value disclosures required by ASU 2016-01, Financial Instruments—Overall (Topic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities effective January 1, 2018, are as follows:

In thousands						Fair Value at January 1, 2020						Unrealized Gains						Unrealized Losses						Fair Value at December 31, 2020
December 31, 2020
CRA Mutual Fund						$	1,045					$	25					$	5					$	1,065
Stock in other banks						1,318						—						213						1,105
						$	2,363					$	25					$	218					$	2,170

In thousands						Fair Value at January 1, 2019						Unrealized Gains						Unrealized Losses						Fair Value at December 31, 2019
December 31, 2019
CRA Mutual Fund						$	1,012					$	33					$	—					$	1,045
Stock in other banks						827						234						—						1,061
						$	1,839					$	267					$	—					$	2,106

Schedule of Unrealized Loss on Investments

The following table shows the Corporation’s investments’ 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 December 31, 2020 and 2019:

			Less than 12 Months												12 Months or More												Total
In thousands			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
SECURITIES AVAILABLE FOR SALE
December 31, 2020
U.S. Government and agencies			$	32,629					$	218					$	—					$	—					$	32,629					$	218
Mortgage-backed securities, residential			10,458						34						—						—						10,458						34
State and municipal			2,148						7						—						—						2,148						7
Corporate bonds			1,514						16						—						—						1,514						16
			$	46,749					$	275					$	—					$	—					$	46,749					$	275
December 31, 2019
U.S. Government and agencies			$	—					$	—					$	47,425					$	169					$	47,425					$	169
Mortgage-backed securities, residential			16,208						82						1,424						5						17,632						87
State and municipal			3,233						13						502						1						3,735						14
			$	19,441					$	95					$	49,351					$	175					$	68,792					$	270
SECURITIES HELD TO MATURITY
December 31, 2020
U.S. Government and agencies			$	—					$	—					$	—					$	—					$	—					$	—
Mortgage-backed securities, residential			—						—						—						—						—						—
			$	—					$	—					$	—					$	—					$	—					$	—
December 31, 2019
Mortgage-backed security, residential			$	6,587					$	24					$	3,161					$	13					$	9,748					$	37
			$	6,587					$	24					$	3,161					$	13					$	9,748					$	37

Investments Classified by Contractual Maturity Date

Amortized cost and fair value at December 31, 2020, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.

			Available for Sale												Held to Maturity
In thousands			Amortized Cost						Fair Value						Amortized Cost						Fair Value
1 year or less			$	61,958					$	62,546					$	—					$	—
Over 1 year through 5 years			37,888						39,080						—						—
Over 5 years through 10 years			81,927						82,132						—						—
Over 10 years			44,645						45,138						—						—
Mortgage-backed securities, residential			105,327						108,822						10,294						10,768
			$	331,745					$	337,718					$	10,294					$	10,768

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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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

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Tabular disclosure of unrealized gains and losses on investments.

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