INVESTMENT SECURITIES (Tables) |
6 Months Ended |
|---|---|
Jun. 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
securities available-for-sale and securities held-to-maturity
June 30, 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
$
161,247
$
220
$
590
$
160,877
$
103,547
$
972
$
-
$
104,519
U.S. Government Agency
226,807
2,087
593
228,301
205,972
2,743
184
208,531
States and Political Subdivisions
13,555
60
8
13,607
3,543
89
-
3,632
Mortgage-Backed Securities
56,894
56
-
56,950
456
59
-
515
Corporate Debt Securities
14,357
3
-
14,360
-
-
-
-
Equity Securities
(1)
6,795
-
-
6,795
7,673
-
-
7,673
Total
$
479,655
$
2,426
$
1,191
$
480,890
$
321,191
$
3,863
$
184
$
324,870
Held to Maturity
U.S. Government Treasury
$
110,926
$
59
$
64
$
110,921
$
5,001
$
13
$
-
$
5,014
Mortgage-Backed Securities
214,633
4,579
252
218,960
164,938
5,223
-
170,161
Total
$
325,559
$
4,638
$
316
$
329,881
$
169,939
$
5,236
$
-
$
175,175
Total Investment
$
805,214
$
7,064
$
1,507
$
810,771
$
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
$
52,053
$
52,075
$
-
$
-
Due after one year through five years
170,442
169,879
110,926
110,921
Due after five year through ten years
17,645
17,620
-
-
Mortgage-Backed Securities
56,894
56,950
214,633
218,960
U.S. Government Agency
175,826
177,571
-
-
Equity Securities
6,795
6,795
-
-
Total
$
479,655
$
480,890
$
325,559
$
329,881
|
| 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
June 30, 2021
Available for
U.S. Government Treasury
$
114,398
$
590
$
-
$
-
$
114,398
$
590
U.S. Government Agency
84,107
530
8,906
63
93,013
593
States and Political Subdivisions
3,394
8
-
-
3,394
8
Total
201,899
1,128
8,906
63
210,805
1,191
Held to Maturity
U.S. Government Treasury
57,803
64
-
-
57,803
64
Mortgage-Backed Securities
51,208
252
-
-
51,208
252
Total
$
109,011
$
316
$
-
$
-
$
109,011
$
316
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
|