Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES (Tables)

v3.24.2
INVESTMENT SECURITIES (Tables)
12 Months Ended
Dec. 31, 2023
Investment Securities [Abstract]  
Schedule of Amortized Cost and Related Market Value of Investment Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for
 
Sale
Amortized
Unrealized
Unrealized
Allowance for
Carrying
(Dollars in Thousands)
Cost
Gains
Losses
Credit Losses
Value
December 31, 2023
U.S. Government Treasury
$
25,947
$
1
$
1,269
$
-
$
24,679
U.S. Government Agency
152,983
104
8,053
-
145,034
States and Political Subdivisions
43,951
1
4,861
(8)
39,083
Mortgage-Backed Securities
(1)
73,015
2
9,714
-
63,303
Corporate Debt Securities
63,600
-
6,031
(17)
57,552
Other Securities
(2)
8,251
-
-
-
8,251
Total
 
$
367,747
$
108
$
29,928
$
(25)
$
337,902
December 31, 2022
U.S. Government Treasury
$
23,977
$
1
$
1,928
$
-
$
22,050
U.S. Government Agency
198,888
27
12,863
-
186,052
States and Political Subdivisions
47,197
-
6,855
(13)
40,329
Mortgage-Backed Securities
(1)
80,829
2
11,426
-
69,405
Corporate Debt Securities
97,119
19
8,874
(28)
88,236
Other Securities
(2)
7,222
-
-
-
7,222
Total
 
$
455,232
$
49
$
41,946
$
(41)
$
413,294
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Held to Maturity
Amortized
Unrealized
Unrealized
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Value
December 31, 2023
U.S. Government Treasury
$
457,681
$
-
$
16,492
$
441,189
Mortgage-Backed Securities
167,341
13
16,792
150,562
Total
 
$
625,022
$
13
$
33,284
$
591,751
December 31, 2022
U.S. Government Treasury
$
457,374
$
-
$
25,641
$
431,733
Mortgage-Backed Securities
203,370
8
22,410
180,968
Total
 
$
660,744
$
8
$
48,051
$
612,701
(1)
Comprised of residential mortgage-backed
 
securities.
(2)
Includes Federal Home Loan Bank and Federal Reserve Bank recorded
 
at cost of $
3.2
 
million and $
5.1
 
million, respectively,
 
at
December 31, 2023 and of $
2.1
 
million and $
5.1
 
million, respectively,
 
at December 31, 2022.
Schedule of Investment Securities with Maturity Distribution Based on Contractual Maturities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for
 
Sale
Held to Maturity
Amortized
 
Fair
 
Amortized
 
Fair
(Dollars in Thousands)
Cost
Value
Cost
Value
Due in one year or less
$
28,545
 
$
27,854
 
$
90,119
 
$
88,588
Due after one through five years
 
138,299
 
 
127,843
 
 
367,562
 
 
352,601
Due after five through ten years
39,090
33,420
-
-
Mortgage-Backed Securities
 
73,015
 
 
63,303
 
 
167,341
 
 
150,562
U.S. Government Agency
80,547
77,231
-
-
Other Securities
 
8,251
 
 
8,251
 
 
-
 
 
-
Total
 
$
367,747
 
$
337,902
 
$
625,022
 
$
591,751
Schedule of Investment Securities with Continuous Unrealized Loss Position
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less Than 12 Months
Greater Than 12 Months
Total
Fair
Unrealized
Fair
Unrealized
Fair
Unrealized
(Dollars in Thousands)
Value
Losses
Value
Losses
Value
Losses
December 31, 2023
Available for
 
Sale
U.S. Government Treasury
$
-
 
$
-
 
$
19,751
 
$
1,269
 
$
19,751
 
$
1,269
U.S. Government Agency
12,890
74
121,220
7,979
134,110
8,053
States and Political Subdivisions
1,149
 
31
 
37,785
 
4,830
 
38,934
 
4,861
Mortgage-Backed Securities
 
23
 
 
-
 
 
63,195
 
 
9,714
 
 
63,218
 
 
9,714
Corporate Debt Securities
-
-
57,568
6,031
57,568
6,031
Total
 
14,062
 
105
 
299,519
 
29,823
 
313,581
 
29,928
 
Held to Maturity
U.S. Government Treasury
 
153,880
 
 
3,178
 
 
287,310
 
 
13,314
 
 
441,190
 
 
16,492
Mortgage-Backed Securities
 
786
14
148,282
16,778
149,068
16,792
Total
 
$
154,666
 
$
3,192
 
$
435,592
 
$
30,092
 
$
590,258
 
$
33,284
December 31, 2022
Available for
 
Sale
 
U.S. Government Treasury
$
983
 
$
-
 
$
19,189
 
$
1,928
 
$
20,172
 
$
1,928
U.S. Government Agency
63,112
2,572
113,004
10,291
176,116
12,863
States and Political Subdivisions
 
1,425
 
 
2
 
 
38,760
 
 
6,853
 
 
40,185
 
 
6,855
Mortgage-Backed Securities
6,594
959
60,458
10,467
67,052
11,426
Equity Securities
26,959
878
58,601
7,996
85,560
8,874
Total
 
99,073
 
4,411
 
290,012
 
37,535
 
389,085
 
41,946
 
Held to Maturity
U.S. Government Treasury
 
177,552
 
 
11,018
 
 
254,181
 
 
14,623
 
 
431,733
 
 
25,641
Mortgage-Backed Securities
88,723
6,814
91,462
15,596
180,185
22,410
Total
 
$
266,275
 
$
17,832
 
$
345,643
 
$
30,219
 
$
611,918
 
$
48,051