SECURITIES (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| SECURITIES [Abstract] |
|
| Amortized Cost and 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, 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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
74,839 |
|
|
$ |
95 |
|
|
$ |
(185 |
) |
|
$ |
74,749 |
|
U.S. Agency MBS and CMOs |
|
|
45,795 |
|
|
|
474 |
|
|
|
(68 |
) |
|
|
46,201 |
|
Tax-exempt state and municipal bonds |
|
|
44,718 |
|
|
|
1,244 |
|
|
|
— |
|
|
|
45,962 |
|
Taxable state and municipal bonds |
|
|
51,683 |
|
|
|
404 |
|
|
|
(65 |
) |
|
|
52,022 |
|
Corporate bonds and other debt securities |
|
|
6,263 |
|
|
|
55 |
|
|
|
(3 |
) |
|
|
6,315 |
|
| |
|
$ |
223,298 |
|
|
$ |
2,272 |
|
|
$ |
(321 |
) |
|
$ |
225,249 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
82,720 |
|
|
$ |
2,408 |
|
|
$ |
— |
|
|
$ |
85,128 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at December 31, 2020 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 |
|
$ |
24,585 |
|
|
$ |
24,782 |
|
|
$ |
29,585 |
|
|
$ |
29,806 |
|
Due from one to five years |
|
|
22,800 |
|
|
|
23,842 |
|
|
|
63,590 |
|
|
|
65,826 |
|
Due from five to ten years |
|
|
14,503 |
|
|
|
15,915 |
|
|
|
77,168 |
|
|
|
78,854 |
|
Due after ten years |
|
|
17,580 |
|
|
|
18,707 |
|
|
|
61,155 |
|
|
|
62,346 |
|
| |
|
$ |
79,468 |
|
|
$ |
83,246 |
|
|
$ |
231,498 |
|
|
$ |
236,832 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at December 31, 2020 and 2019, 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, 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 |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
December 31, 2019 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
15,009 |
|
|
$ |
(97 |
) |
|
$ |
27,026 |
|
|
$ |
(87 |
) |
|
$ |
42,035 |
|
|
$ |
(184 |
) |
U.S. Agency MBS and CMOs |
|
|
19,117 |
|
|
|
(56 |
) |
|
|
1,196 |
|
|
|
(12 |
) |
|
|
20,313 |
|
|
|
(68 |
) |
Tax-exempt state and municipal bonds |
|
|
319 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
319 |
|
|
|
— |
|
Taxable state and municipal bonds |
|
|
8,569 |
|
|
|
(57 |
) |
|
|
2,981 |
|
|
|
(9 |
) |
|
|
11,550 |
|
|
|
(66 |
) |
Corporate bonds and other debt securities |
|
|
932 |
|
|
|
— |
|
|
|
852 |
|
|
|
(3 |
) |
|
|
1,784 |
|
|
|
(3 |
) |
Total |
|
$ |
43,946 |
|
|
$ |
(210 |
) |
|
$ |
32,055 |
|
|
$ |
(111 |
) |
|
$ |
76,001 |
|
|
$ |
(321 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|