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SECURITIES
 9 Months Ended
Sep. 30, 2021
SECURITIES [Abstract]  
SECURITIES
2.  SECURITIES

The amortized cost and fair value of securities are shown below:

  
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
September 30, 2021
                        
Available for sale:
                        
U.S. government and agencies
  
$
—
    
$
—
    
$
—
    
$
—
  
State and municipal
    
266,306
      
9,273
      
(550
)
    
275,029
  
Mortgage-backed securities
    
326,022
      
6,342
      
(3,506
)
    
328,858
  
Collateralized mortgage obligations
    
106,864
      
—
      
(425
)
    
106,439
  
Asset-backed and other amortizing securities
    
28,117
      
1,329
      
—
      
29,446
  
Other securities
    
12,000
      
790
      
—
      
12,790
  
   
$
739,309
    
$
17,734
    
$
(4,481
)
  
$
752,562
  

 
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
December 31, 2020
                        
Available for sale:
                        
U.S. government and agencies
  
$
4,750
    
$
3
    
$
—
    
$
4,753
  
State and municipal
    
261,023
      
11,704
      
(120
)
    
272,607
  
Mortgage-backed securities
    
359,542
      
14,014
      
(194
)
    
373,362
  
Collateralized mortgage obligations
    
107,175
      
—
      
(460
)
    
106,715
  
Asset-backed and other amortizing securities
    
31,509
      
2,063
      
—
      
33,572
  
Other securities
    
12,000
      
91
      
(13
)
    
12,078
  
   
$
775,999
    
$
27,875
    
$
(787
)
  
$
803,087
  

The amortized cost and fair value of securities at September 30, 2021 are presented below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities are shown separately since they are not due at a single maturity date.

  
Available for Sale
  
   
Amortized
Cost
    
Fair
Value
  
Within 1 year
  
$
1,615
    
$
1,640
  
After 1 year through 5 years
    
6,864
      
7,256
  
After 5 years through 10 years
    
23,918
      
25,227
  
After 10 years
    
245,909
      
253,697
  
Other
    
461,003
      
464,742
  
   
$
739,309
    
$
752,562
  

At both September 30, 2021 and December 31, 2020, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity.

Securities with a carrying value of approximately $486.0 million and $292.2 million at September 30, 2021 and December 31, 2020, respectively, were pledged to collateralize public deposits and for other purposes as required or permitted by law.

The following table segregates securities with unrealized losses at the periods indicated, by the duration they have been in a loss position:

  
Less than 12 Months
    
12 Months or More
    
Total
  
   
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
September 30, 2021
                                    
U.S. government and agencies
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—
  
State and municipal
    
52,939
      
550
      
—
      
—
      
52,939
      
550
  
Mortgage-backed securities
    
66,197
      
1,285
      
54,630
      
2,221
      
120,827
      
3,506
  
Collateralized mortgage obligations
    
106,439
      
425
      
—
      
—
      
106,439
      
425
  
Asset-backed and other amortizing securities
    
—
      
—
      
—
      
—
      
—
      
—
  
Other securities
    
—
      
—
      
—
      
—
      
—
      
—
  
   
$
225,575
    
$
2,260
    
$
54,630
    
$
2,221
    
$
280,205
    
$
4,481
  
                                                 
December 31, 2020
                                                
U.S. government and agencies
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—
  
State and municipal
    
—
      
120
      
—
      
—
      
—
      
120
  
Mortgage-backed securities
    
93,482
      
194
      
—
      
—
      
93,482
      
194
  
Collateralized mortgage obligations
    
106,715
      
460
      
—
      
—
      
106,715
      
460
  
Asset-backed and other amortizing securities
    
—
      
—
      
—
      
—
      
—
      
—
  
Other securities
    
3,486
      
13
      
—
      
—
      
3,486
      
13
  
   
$
203,683
    
$
787
    
$
—
    
$
—
    
$
203,683
    
$
787
  

There were 29 securities with an unrealized loss at September 30, 2021. Management does not believe that these losses are other than temporary as there is no intent to sell any of these securities before recovery and it is not probable that we will be required to sell any of these securities before recovery, and credit loss, if any, is not material. Any unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of September 30, 2021, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in the Company’s consolidated financial statements.