EQUITY SECURITIES	12 Months Ended
Dec. 31, 2021
Investments, All Other Investments [Abstract]
Other Investment Securities [Text Block]	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 mortgage related assets, and the FHLB requires an additional investment that is calculated as a percentage of total FHLB advances and letters of credit, if any. The FHLB stock represents capital stock issued at $ 100 par value, and both stock and cash dividends may be received. As of December 31, 2021 and 2020, the Corporation had investments in FHLB stock carried at a cost of $ 21.5 million and $ 31.2 million, respectively. Dividend income from FHLB stock for the years ended December 31, 2021, 2020, and 2019 amounted to $ 1.4 million, $ 2.0 million, and $ 2.7 million, 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 eleven 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 December 31, 2021 and 2020, the Corporation owned other equity securities with a readily determinable fair value of approximately $ 5.4 million and $ 1.5 million, respectively. During the year ended December 31, 2021, the Corporation recognized a marked-to-market loss of $ 0.1 million associated with these securities, which was recorded as part of other non-interest income in the consolidated statements of income, compared to a $ 38 thousand marked-to-market gain for the year ended December 2020, and a $ 0.4 thousand marked-to-market gain for the year ended December 2019. In addition, the Corporation has other equity securities that do not have a readily-determinable fair value. The carrying value of such securities as of December 31, 2021 and 2020 was $ 5.3 million and $ 4.9 million, respectively.

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

calculated

percentage

aggregate

outstanding

mortgage

assets,

and

the

FHLB

requires

additional

investment that

is calculated

as a

percentage of

total FHLB

advances and

letters of

credit, if

any.

The FHLB

stock represents

capital

stock issued at $

100

par value, and both stock and cash dividends may be received.

As of

December 31,

2021 and

2020, the

Corporation had

investments in

FHLB stock

carried at

a cost

of $

21.5

million and

31.2

million, respectively.

Dividend income

from FHLB

stock for

the years

ended December

31, 2021,

2020, and

2019 amounted

to $

1.4

million, $

2.0

million, and $

2.7

million, 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,

national

wholesale

banking

network

eleven

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

financially

safe

and

sound

manner,

remain

adequately

capitalized and able to raise funds in the capital markets, and carry out their housing

finance mission.

December

31,

2021

and

2020,

the

Corporation

owned

other

equity

securities

with

readily

determinable

fair

value

approximately

5.4

million and

1.5

million, respectively.

During

the year

ended December

31, 2021,

the Corporation

recognized a

marked-to-market loss of

0.1

million associated with

these securities, which

was recorded as

part of other

non-interest income in

the

consolidated statements of income,

compared to a $

thousand marked-to-market gain for

the year ended December 2020,

and a $

0.4

thousand

marked-to-market

gain for

the year

ended December

2019. In

addition,

the Corporation

has other

equity securities

that do

not have

a readily-determinable

fair value.

The carrying

value of such

securities as of

December 31,

2021 and

2020 was $

5.3

million

and $

4.9

million, respectively.