Annual report pursuant to Section 13 and 15(d)

SECURITIES (Tables)

v3.22.0.1
SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2021
SECURITIES [Abstract]  
Amortized Cost and Estimated Fair Value of Securities
The amortized cost and fair value of securities were as follows (dollars in thousands):

   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
December 31, 2021
                        
Available for Sale:
                        
U.S. Treasury and federal agency securities
  
$
208,153
    
$
215
    
$
(1,523
)
  
$
206,845
  
U.S. Agency MBS and CMOs
    
87,343
      
416
      
(962
)
    
86,797
  
Tax-exempt state and municipal bonds
    
36,298
      
1,258
      
—
      
37,556
  
Taxable state and municipal bonds
    
79,394
      
812
      
(645
)
    
79,561
  
Corporate bonds and other debt securities
    
5,251
      
63
      
(10
)
    
5,304
  
   
$
416,439
    
$
2,764
    
$
(3,140
)
  
$
416,063
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
137,003
    
$
2,484
    
$
(215
)
  
$
139,272
  
                                 
December 31, 2020
                                
Available for Sale:
                                
U.S. Treasury and federal agency securities
  
$
63,993
    
$
287
    
$
(170
)
  
$
64,110
  
U.S. Agency MBS and CMOs
    
63,652
      
1,376
      
(45
)
    
64,983
  
Tax-exempt state and municipal bonds
    
43,739
      
1,903
      
—
      
45,642
  
Taxable state and municipal bonds
    
55,383
      
1,801
      
(7
)
    
57,177
  
Corporate bonds and other debt securities
    
4,731
      
189
      
—
      
4,920
  
   
$
231,498
    
$
5,556
    
$
(222
)
  
$
236,832
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
79,468
    
$
3,778
    
$
—
    
$
83,246
  
Contractual Maturities of Debt Securities
Contractual maturities of debt securities at December 31, 2021 were as follows (dollars in thousands):

   
Held–to-Maturity Securities
    
Available-for-Sale Securities
  
   
Amortized
Cost
    
Fair
Value
    
Amortized
Cost
    
Fair
Value
  
Due in one year or less
  
$
27,809
    
$
27,922
    
$
22,020
    
$
22,215
  
Due from one to five years
    
74,909
      
75,515
      
196,934
      
197,967
  
Due from five to ten years
    
17,390
      
18,338
      
112,128
      
111,133
  
Due after ten years
    
16,895
      
17,497
      
85,357
      
84,748
  
   
$
137,003
    
$
139,272
    
$
416,439
    
$
416,063
  
Securities in Continuous Unrealized Loss Position
Securities with unrealized losses at December 31, 2021 and 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands):

   
Less than 12 Months
    
12 Months or More
    
Total
  
December 31, 2021
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale:
                                    
U.S. Treasury and federal agency securities
  
$
77,066
    
$
(955
)
  
$
18,432
    
$
(568
)
  
$
95,498
    
$
(1,523
)
U.S. Agency MBS and CMOs
    
52,254
      
(830
)
    
4,190
      
(132
)
    
56,444
      
(962
)
Tax-exempt state and municipal bonds
    
—
      
—
      
—
      
—
      
—
      
—
  
Taxable state and municipal bonds
    
37,648
      
(638
)
    
498
      
(7
)
    
38,146
      
(645
)
Corporate bonds and other debt securities
    
1,352
      
(10
)
    
—
      
—
      
1,352
      
(10
)
Total
  
$
168,320
    
$
(2,433
)
  
$
23,120
    
$
(707
)
  
$
191,440
    
$
(3,140
)
                                                 
Held to Maturity:
                                                
Tax-exempt state and municipal bonds
  
$
61,166
    
$
(215
)
  
$
—
    
$
—
    
$
61,166
    
$
(215
)

   
Less than 12 Months
    
12 Months or More
    
Total
  
December 31, 2020
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale:
                                    
U.S. Treasury and federal agency securities
  
$
22,830
    
$
(170
)
  
$
—
    
$
—
    
$
22,830
    
$
(170
)
U.S. Agency MBS and CMOs
    
9,299
      
(45
)
    
—
      
—
      
9,299
      
(45
)
Tax-exempt state and municipal bonds
    
—
      
—
      
—
      
—
      
—
      
—
  
Taxable state and municipal bonds
    
2,336
      
(7
)
    
—
      
—
      
2,336
      
(7
)
Corporate bonds and other debt securities
    
—
      
—
      
—
      
—
      
—
      
—
  
Total
  
$
34,465
    
$
(222
)
  
$
—
    
$
—
    
$
34,465
    
$
(222
)
                                                 
Held to Maturity:
                                                
Tax-exempt state and municipal bonds
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—