EQUITY SECURITIES	9 Months Ended
Sep. 30, 2020
Investments All Other Investments [Abstract]
OTHER EQUITY SECURITIES	NOTE 6 – EQUITY SECURITIES Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $100 par value. Both stock and cash dividends may be received on FHLB stock. As of September 30, 2020 and December 31, 2019, the Corporation had investments in FHLB stock carried at a cost of $33.5 million and $34.1 million, respectively. Dividend income from FHLB stock for the quarter and nine-month period ended September 30, 2020 was $0.4 million and $1.5 million, respectively, compared to $0.7 million and $2.0 million for the quarter and nine-month period ended September 30, 2019, respectively. The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which requires that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission. As of September 30, 2020 and December 31, 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $1.5 million and $1.4 million, respectively. During the quarter and nine-month period ended September 30, 2020, the Corporation recognized a marked-to-market loss of $3 thousand and a marked-to-market gain of $40 thousand, respectively, associated with these securities, which recorded as part of other non-interest income in the consolidated statements of income as compared with a $2 thousand marked-to-market loss for the third quarter of 2019 and $10 thousand marked-to-market gain for the nine-month period ended September 30, 2019. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of September 30, 2020 and December 31, 2019 was $4.3 million and $2.8 million, respectively.

EQUITY SECURITIES

9 Months Ended

Sep. 30, 2020

Investments All Other Investments [Abstract]

NOTE 6 – EQUITY SECURITIES

Institutions that are members of the FHLB system are required to maintain a minimum investment in FHLB stock. Such minimum investment is calculated as a percentage of aggregate outstanding mortgages, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances, letters of credit, and the collateralized portion of outstanding interest-rate swaps. The stock is capital stock issued at $100 par value. Both stock and cash dividends may be received on FHLB stock.

As of September 30, 2020 and December 31, 2019, the Corporation had investments in FHLB stock carried at a cost of $33.5 million and $34.1 million, respectively. Dividend income from FHLB stock for the quarter and nine-month period ended September 30, 2020 was $0.4 million and $1.5 million, respectively, compared to $0.7 million and $2.0 million for the quarter and nine-month period ended September 30, 2019, respectively.

The FHLB of New York issued the shares of FHLB stock owned by the Corporation. The FHLB of New York is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned congressionally chartered banks. The FHLBs are all privately capitalized and operated by their member stockholders. The system is supervised by the Federal Housing Finance Agency, which requires that the FHLBs operate in a financially safe and sound manner, remain adequately capitalized and able to raise funds in the capital markets, and carry out their housing finance mission.

As of September 30, 2020 and December 31, 2019, the Corporation owned other equity securities with a readily determinable fair value of approximately $1.5 million and $1.4 million, respectively. During the quarter and nine-month period ended September 30, 2020, the Corporation recognized a marked-to-market loss of $3 thousand and a marked-to-market gain of $40 thousand, respectively, associated with these securities, which recorded as part of other non-interest income in the consolidated statements of income as compared with a $2 thousand marked-to-market loss for the third quarter of 2019 and $10 thousand marked-to-market gain for the nine-month period ended September 30, 2019. In addition, the Corporation had other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of September 30, 2020 and December 31, 2019 was $4.3 million and $2.8 million, respectively.