Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v3.21.2
SECURITIES (Tables)
 9 Months Ended
Sep. 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
  
September 30, 2021
                        
Available for Sale
                        
U.S. Treasury and federal agency securities
  
$
69,488
    
$
85
    
$
(701
)
  
$
68,872
  
U.S. Agency MBS and CMOs
    
64,353
      
691
      
(535
)
    
64,509
  
Tax-exempt state and municipal bonds
    
38,624
      
1,384
      
—
      
40,008
  
Taxable state and municipal bonds
    
63,723
      
1,170
      
(300
)
    
64,593
  
Corporate bonds and other debt securities
    
3,396
      
97
      
—
      
3,493
  
   
$
239,584
    
$
3,427
    
$
(1,536
)
  
$
241,475
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
137,569
    
$
2,890
    
$
(47
)
  
$
140,412
  

   
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 September 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
  
$
31,503
    
$
31,569
    
$
22,681
    
$
22,881
  
Due from one to five years
    
69,127
      
70,077
      
66,771
      
68,448
  
Due from five to ten years
    
19,359
      
20,425
      
87,960
      
87,899
  
Due after ten years
    
17,580
      
18,341
      
62,172
      
62,247
  
   
$
137,569
    
$
140,412
    
$
239,584
    
$
241,475
  
Securities in Continuous Unrealized Loss Position
Securities with unrealized losses at September 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
  
September 30, 2021
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale
                                    
U.S. Treasury and federal agency securities
  
$
53,249
    
$
(655
)
  
$
4,953
    
$
(46
)
  
$
58,202
    
$
(701
)
U.S. Agency MBS and CMOs
    
34,332
      
(510
)
    
1,563
      
(25
)
    
35,895
      
(535
)
Tax-exempt state and municipal bonds
    
250
      
—
      
—
      
—
      
250
      
—
  
Taxable state and municipal bonds
    
21,919
      
(285
)
    
490
      
(15
)
    
22,409
      
(300
)
Corporate bonds and other debt securities
    
—
      
—
      
—
      
—
      
—
      
—
  
Total
  
$
109,750
    
$
(1,450
)
  
$
7,006
    
$
(86
)
  
$
116,756
    
$
(1,536
)
                                                 
Held to Maturity
                                                
Tax-exempt state and municipal bonds
  
$
20,390
    
$
(47
)
  
$
—
    
$
—
    
$
20,390
    
$
(47
)

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