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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments

Amortized cost and fair value at December 31, 2021 and 2020, were as follows:

In thousands			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
SECURITIES AVAILABLE FOR SALE
December 31, 2021
U.S. Government and agencies			$	249,463					$	503					$	4,925					$	245,041
Mortgage-backed securities, residential			133,697						1,562						1,763						133,496
State and municipal			44,547						315						251						44,611
Corporate bonds			13,858						164						72						13,950
			$	441,565					$	2,544					$	7,011					$	437,098
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
SECURITIES HELD TO MATURITY
December 31, 2021
Mortgage-backed securities, residential			$	6,454					$	198					$	—					$	6,652
			$	6,454					$	198					$	—					$	6,652
December 31, 2020
Mortgage-backed securities, residential			$	10,294					$	474					$	—					$	10,768
			$	10,294					$	474					$	—					$	10,768

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, 2021						Unrealized Gains						Unrealized Losses						Fair Value at December 31, 2021
December 31, 2021
CRA Mutual Fund						$	1,065					$	—					$	29					$	1,036
Stock in other banks						1,105						468						—						1,573
						$	2,170					$	468					$	29					$	2,609

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

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, 2021 and 2020:

			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, 2021
U.S. Government and agencies			$	177,107					$	3,537					$	34,297					$	1,388					$	211,404					$	4,925
Mortgage-backed securities, residential			77,969						1,495						7,727						268						85,696						1,763
State and municipal			20,289						224						2,123						27						22,412						251
Corporate bonds			5,790						72						—						—						5,790						72
			$	281,155					$	5,328					$	44,147					$	1,683					$	325,302					$	7,011
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
SECURITIES HELD TO MATURITY
December 31, 2021
U.S. Government and agencies			$	—					$	—					$	—					$	—					$	—					$	—
Mortgage-backed securities, residential			—						—						—						—						—						—
			$	—					$	—					$	—					$	—					$	—					$	—
December 31, 2020
Mortgage-backed security, residential			$	—					$	—					$	—					$	—					$	—					$	—
			$	—					$	—					$	—					$	—					$	—					$	—

Investments Classified by Contractual Maturity Date

Amortized cost and fair value at December 31, 2021, 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			$	20,073					$	20,266					$	—					$	—
Over 1 year through 5 years			91,538						90,756						—						—
Over 5 years through 10 years			149,118						145,590						—						—
Over 10 years			47,139						46,990						—						—
Mortgage-backed securities, residential			133,697						133,496						6,454						6,652
			$	441,565					$	437,098					$	6,454					$	6,652

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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=123581744&loc=d3e27290-111563

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