INVESTMENT SECURITIES (Tables) |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| 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 market value of investment
securities available-for-sale and securities held-to-maturity and the corresponding
September 30, 2021
December 31, 2020
Amortized
Unrealized
Unrealized
Market
Amortized
Unrealized
Unrealized
Market
(Dollars in Thousands)
Cost
Gains
Losses
Value
Cost
Gain
Losses
Value
Available for
U.S. Government Treasury
$
164,806
$
90
$
849
$
164,047
$
103,547
$
972
$
-
$
104,519
U.S. Government Agency
249,649
1,793
970
250,472
205,972
2,743
184
208,531
States and Political Subdivisions
43,834
69
357
43,546
3,543
89
-
3,632
Mortgage-Backed Securities
(1)
97,131
240
164
97,207
456
59
-
515
Corporate Debt Securities
84,331
13
567
83,777
-
-
-
-
Equity Securities
(2)
6,795
-
-
6,795
7,673
-
-
7,673
Total
$
646,546
$
2,205
$
2,907
$
645,844
$
321,191
$
3,863
$
184
$
324,870
Held to Maturity
U.S. Government Treasury
$
115,903
$
-
$
348
$
115,555
$
5,001
$
13
$
-
$
5,014
Mortgage-Backed Securities
225,325
3,941
536
228,730
164,938
5,223
-
170,161
Total
$
341,228
$
3,941
$
884
$
344,285
$
169,939
$
5,236
$
-
$
175,175
Total Investment
$
987,774
$
6,146
$
3,791
$
990,129
$
491,130
$
9,099
$
184
$
500,045
(1)
(2)
Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded
2.0
4.8
respectively,
$
2.9
4.8
|
| Schedule of investment securities with maturity distribution based on contractual maturities |
Available for
Held to Maturity
(Dollars in Thousands)
Amortized Cost
Market Value
Amortized Cost
Market Value
Due in one year or less
$
39,614
$
39,423
$
-
$
-
Due after one year through five years
264,747
263,661
115,903
115,555
Due after five year through ten years
66,347
65,614
-
-
Mortgage-Backed Securities
97,131
97,207
225,325
228,730
U.S. Government Agency
171,912
173,144
-
-
Equity Securities
6,795
6,795
-
-
Total
$
646,546
$
645,844
$
341,228
$
344,285
|
| Schedule of investment securities with continuous unrealized loss position |
Less Than
Greater Than
12 Months
12 Months
Total
Market
Unrealized
Market
Unrealized
Market
Unrealized
(Dollars in Thousands)
Value
Losses
Value
Losses
Value
Losses
September 30, 2021
Available for
U.S. Government Treasury
$
143,394
$
849
$
-
$
-
$
143,394
$
849
U.S. Government Agency
118,969
859
12,168
111
131,137
970
States and Political Subdivisions
27,355
357
-
-
27,355
357
Mortgage-Backed Securities
40,012
164
-
-
40,012
164
Corporate Debt Securities
57,304
567
-
-
57,304
567
Total
387,034
2,796
12,168
111
399,202
2,907
Held to Maturity
U.S. Government Treasury
115,555
348
-
-
115,555
348
Mortgage-Backed Securities
93,023
536
-
-
93,023
536
Total
$
208,578
$
884
$
-
$
-
$
208,578
$
884
December 31, 2020
Available for
U.S. Government Agency
$
28,266
$
156
$
4,670
$
28
$
32,936
$
184
Total
$
28,266
$
156
$
4,670
$
28
$
32,936
$
184
|