SECURITIES (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| SECURITIES [Abstract] |
|
| Amortized Cost and Estimated Fair Value of Securities |
The amortized cost and estimated fair value of securities at period-end were as follows (dollars in thousands):
| |
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair
Value
|
|
March 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
62,993 |
|
|
$ |
196 |
|
|
$ |
(1,337 |
) |
|
$ |
61,852 |
|
U.S. Agency MBS and CMOs |
|
|
63,386 |
|
|
|
977 |
|
|
|
(600 |
) |
|
|
63,763 |
|
Tax-exempt state and municipal bonds |
|
|
41,915 |
|
|
|
1,581 |
|
|
|
(1 |
) |
|
|
43,495 |
|
Taxable state and municipal bonds |
|
|
59,108 |
|
|
|
1,357 |
|
|
|
(385 |
) |
|
|
60,080 |
|
Corporate bonds and other debt securities |
|
|
4,326 |
|
|
|
156 |
|
|
|
— |
|
|
|
4,482 |
|
| |
|
$ |
231,728 |
|
|
$ |
4,267 |
|
|
$ |
(2,323 |
) |
|
$ |
233,672 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
89,170 |
|
|
$ |
3,089 |
|
|
$ |
(120 |
) |
|
$ |
92,139 |
|
| |
|
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 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at March 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 |
|
$ |
24,515 |
|
|
$ |
24,632 |
|
|
$ |
25,807 |
|
|
$ |
25,992 |
|
Due from one to five years |
|
|
31,050 |
|
|
|
32,008 |
|
|
|
60,710 |
|
|
|
62,555 |
|
Due from five to ten years |
|
|
16,025 |
|
|
|
17,155 |
|
|
|
84,052 |
|
|
|
83,682 |
|
Due after ten years |
|
|
17,580 |
|
|
|
18,344 |
|
|
|
61,159 |
|
|
|
61,443 |
|
| |
|
$ |
89,170 |
|
|
$ |
92,139 |
|
|
$ |
231,728 |
|
|
$ |
233,672 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at March 31, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (dollars in thousands):
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
March 31, 2021 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
Available for Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
41,062 |
|
|
$ |
(1,337 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
41,062 |
|
|
$ |
(1,337 |
) |
U.S. Agency MBS and CMOs |
|
|
29,553 |
|
|
|
(600 |
) |
|
|
— |
|
|
|
— |
|
|
|
29,553 |
|
|
|
(600 |
) |
Tax-exempt state and municipal bonds |
|
|
450 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
450 |
|
|
|
(1 |
) |
Taxable state and municipal bonds |
|
|
16,583 |
|
|
|
(385 |
) |
|
|
— |
|
|
|
— |
|
|
|
16,583 |
|
|
|
(385 |
) |
Corporate bonds and other debt securities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
87,648 |
|
|
$ |
(2,323 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
87,648 |
|
|
$ |
(2,323 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
15,588 |
|
|
$ |
(120 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,588 |
|
|
$ |
(120 |
) |
| |
|
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 |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|