INVESTMENT SECURITIES (Tables) |
3 Months Ended |
|---|---|
Mar. 31, 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
securities available-for-sale and securities held
March 31, 2021
December 31, 2020
Amortized
Unrealized
Unrealized
Market
Amortized
Unrealized
Unrealized
Market
Cost
Gains
Losses
Value
Cost
Gain
Losses
Value
Available for
U.S. Government Treasury
$
173,029
$
551
$
464
$
173,116
$
103,547
$
972
$
-
$
104,519
U.S. Government Agency
220,018
2,096
584
221,530
205,972
2,743
184
208,531
States and Political Subdivisions
4,244
73
9
4,308
3,543
89
-
3,632
Mortgage-Backed Securities
440
56
-
496
456
59
-
515
Equity Securities
(1)
6,795
-
-
6,795
7,673
-
-
7,673
Total
$
404,526
$
2,776
$
1,057
$
406,245
$
321,191
$
3,863
$
184
$
324,870
Held to Maturity
U.S. Government Treasury
$
-
$
-
$
-
$
-
$
5,001
$
13
$
-
$
5,014
Mortgage-Backed Securities
199,109
5,358
309
204,158
164,938
5,223
-
170,161
Total
$
199,109
$
5,358
$
309
$
204,158
$
169,939
$
5,236
$
-
$
175,175
Total Investment
$
603,635
$
8,134
$
1,366
$
610,403
$
491,130
$
9,099
$
184
$
500,045
(1)
Includes Federal Home Loan Bank and Federal Reserve Bank
2.0
4.8
respectively,
2.9
million and $
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
$
77,464
$
77,741
$
-
$
-
Due after one year through five years
138,352
137,981
-
-
Due after five year through ten years
989
989
-
-
Mortgage-Backed Securities
440
496
199,109
204,158
U.S. Government Agency
180,486
182,243
-
-
Equity Securities
6,795
6,795
-
-
Total
$
404,526
$
406,245
$
199,109
$
204,158
|
| 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
March 31, 2021
Available for
U.S. Government Treasury
$
65,577
$
464
$
-
$
-
$
65,577
$
464
U.S. Government Agency
63,630
554
4,778
30
68,408
584
States and Political Subdivisions
744
9
-
-
744
9
Total
129,951
1,027
4,778
30
134,729
1,057
Held to Maturity
Mortgage-Backed Securities
20,550
309
-
-
20,550
309
Total
$
20,550
$
309
$
-
$
-
$
20,550
$
309
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
|