Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v3.21.2
SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2021
SECURITIES [Abstract]  
Amortized Cost and Fair Value of Securities
The amortized cost and fair value of securities at period-end were as follows (dollars in thousands):
   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
June 30, 2021
                        
Available for Sale
                        
U.S. Treasury and federal agency securities
  
$
67,990
    
$
128
    
$
(726
)
  
$
67,392
  
U.S. Agency MBS and CMOs
    
63,766
      
895
      
(414
)
    
64,247
  
Tax-exempt state and municipal bonds
    
39,165
      
1,560
      
—
      
40,725
  
Taxable state and municipal bonds
    
62,031
      
1,317
      
(216
)
    
63,132
  
Corporate bonds and other debt securities
    
4,320
      
139
      
—
      
4,459
  
   
$
237,272
    
$
4,039
    
$
(1,356
)
  
$
239,955
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
121,867
    
$
3,108
    
$
(3
)
  
$
124,972
  

   
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 June 30, 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
  
$
25,788
    
$
25,908
    
$
24,921
    
$
25,137
  
Due from one to five years
    
64,665
      
65,661
      
61,955
      
63,806
  
Due from five to ten years
    
13,834
      
14,960
      
89,028
      
89,258
  
Due after ten years
    
17,580
      
18,443
      
61,368
      
61,754
  
   
$
121,867
    
$
124,972
    
$
237,272
    
$
239,955
  
Securities in Continuous Unrealized Loss Position

Securities with unrealized losses at June 30, 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
  
June 30, 2021
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale
                                    
U.S. Treasury and federal agency securities
  
$
45,674
    
$
(726
)
  
$
—
    
$
—
    
$
45,674
    
$
(726
)
U.S. Agency MBS and CMOs
    
25,171
      
(414
)
    
—
      
—
      
25,171
      
(414
)
Tax-exempt state and municipal bonds
    
—
      
—
      
—
      
—
      
—
      
—
  
Taxable state and municipal bonds
    
18,689
      
(216
)
    
—
      
—
      
18,689
      
(216
)
Corporate bonds and other debt securities
    
—
      
—
      
—
      
—
      
—
      
—
  
Total
  
$
89,534
    
$
(1,356
)
  
$
—
    
$
—
    
$
89,534
    
$
(1,356
)
                                                 
Held to Maturity
                                                
Tax-exempt state and municipal bonds
  
$
13,774
    
$
(3
)
  
$
—
    
$
—
    
$
13,774
    
$
(3
)

   
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
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—