Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES (Tables)

v3.19.3.a.u2
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and related market value of investment securities available-for-sale
Note 2
INVESTMENT SECURITIES
Investment Portfolio Composition. The amortized cost and related market value of investment securities available-for-sale and
held-to-maturity were as follows:
2019 2018
Amortized Unrealized Unrealized Market Amortized Unrealized Unrealized Market
(Dollars in Thousands) Cost Gains Losses Value Cost Gain Losses Value
Available for Sale
U.S. Government Treasury $ 231,996 $ 849 $ 67 $ 232,778 $ 264,298 $ 167 $ 2,616 $ 261,849
U.S. Government Agency 155,706 697 325 156,078 133,201 520 515 133,206
States and Political Subdivisions 6,310 9 - 6,319 42,509 - 144 42,365
Mortgage-Backed Securities 693 80 - 773 903 40 - 943
Equity Securities(1) 7,653 - - 7,653 7,794 - - 7,794
Total $ 402,358 $ 1,635 $ 392 $ 403,601 $ 448,705 $ 727 $ 3,275 $ 446,157
Held to Maturity
U.S. Government Treasury $ 20,036 $ 15 $ 9 $ 20,042 $ 35,088 $ - $ 477 $ 34,611
States and Political Subdivisions 1,376 - - 1,376 6,512 - 26 6,486
Mortgage-Backed Securities 218,127 2,064 180 220,011 175,720 220 2,624 173,316
Total $ 239,539 $ 2,079 $ 189 $ 241,429 $ 217,320 $ 220 $ 3,127 $ 214,413
Total Investment Securities $ 641,897 $ 3,714 $ 581 $ 645,030 $ 666,025 $ 947 $ 6,402 $ 660,570

(1) Includes Federal Home Loan Bank and Federal Reserve Bank recorded at cost of $2.9 million and $4.8 million, respectively, at December 31, 2019 and Federal Home Loan Bank and Federal Reserve Bank recorded at cost of $3.0 million and $4.8 million, respectively, at December 31, 2018.
Schedule of investment securities with maturity distribution based on contractual maturities
Available for Sale Held to Maturity
Amortized   Market   Amortized   Market
(Dollars in Thousands) Cost Value Cost Value
Due in one year or less $ 134,339   $ 134,331   $ 16,406   $ 16,397
Due after one through five years   103,967     104,766     5,006     5,021
Mortgage-Backed Securities 693 773 218,127 220,011
U.S. Government Agency   155,706     156,078     -     -
Equity Securities   7,653     7,653     -     -
Total $ 402,358   $ 403,601   $ 239,539   $ 241,429
Schedule of investment securities with continuous unrealized loss position
Less Than 12 Months Greater Than 12 Months Total
Market Unrealized Market Unrealized Market Unrealized
(Dollars in Thousands) Value Losses Value Losses Value Losses
December 31, 2019
Available for Sale
U.S. Government Treasury $ 9,955   $ -   $ 93,310   $ 67   $ 103,265   $ 67
U.S. Government Agency 36,361 244 17,364 81 53,725 325
States and Political Subdivisions 578   -   -   -   578   -
Mortgage-Backed Securities   8     -     -     -     8     -
Total 46,902   244   110,674   148   157,576   392
Held to Maturity
U.S. Government Treasury   -   -   15,022   9   15,022     9
States and Political Subdivisions 1,033 - - - 1,033 -
Mortgage-Backed Securities   22,581     42     16,027     138     38,608     180
Total $ 23,614   $ 42   $ 31,049   $ 147   $ 54,663   $ 189
December 31, 2018
Available for Sale 
U.S. Government Treasury $ 28,420   $ 80   $ 193,501   $ 2,536   $ 221,921   $ 2,616
U.S. Government Agency 53,237 271 28,735 244 81,972 515
States and Political Subdivisions   8,243     12     31,417     132     39,660     144
Mortgage-Backed Securities 10 - - - 10 -
Total 89,910   363   253,653   2,912   343,563   3,275
Held to Maturity
U.S. Government Treasury   -     -     34,612     477     34,612     477
States and Political Subdivisions 204 - 6,281 26 6,485 26
Mortgage-Backed Securities 51,327 389 84,705 2,235 136,032 2,624
Total $ 51,531   $ 389   $ 125,598   $ 2,738   $ 177,129   $ 3,127