SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities

The amortized cost and fair value of debt securities held at December 31, 2021, and 2020, are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	$		$		$			$
December 31, 2021
U. S. Treasuries		14,821		14		(22	)		14,813
U.S. government agencies		29,613		50		(642	)		29,021
U.S. agency mortgage-backed securities		51,964		502		(478	)		51,988
U.S. agency collateralized mortgage obligations		30,917		241		(81	)		31,077
Asset-backed securities		100,998		605		(384	)		101,219
Corporate bonds		82,617		420		(528	)		82,509
Obligations of states and political subdivisions		242,807		5,848		(1,189	)		247,466
Total securities available for sale		553,737		7,680		(3,324	)		558,093
December 31, 2020
U.S. government agencies		54,224		144		(7	)		54,361
U.S. agency mortgage-backed securities		69,777		1,441		(166	)		71,052
U.S. agency collateralized mortgage obligations		34,449		640		(54	)		35,035
Asset-backed securities		60,387		433		(345	)		60,475
Corporate bonds		60,387		1,348		(12	)		61,723
Obligations of states and political subdivisions		187,132		6,727		(77	)		193,782
Total securities available for sale		466,356		10,733		(661	)		476,428

Schedule of contractual maturity of debt securities

The amortized cost and fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to certain call or prepayment provisions.

CONTRACTUAL MATURITY OF DEBT SECURITIES

(DOLLARS IN THOUSANDS)

	Amortized
	Cost		Fair Value
	$		$
Due in one year or less		28,348		28,490
Due after one year through five years		109,795		110,615
Due after five years through ten years		148,147		147,710
Due after ten years		267,447		271,278
Total debt securities		553,737		558,093

Schedule of proceeds and gains and losses on securities available for sale

PROCEEDS FROM SALES OF SECURITIES AVAILABLE FOR SALE

(DOLLARS IN THOUSANDS)

	Securities Available for Sale
	2021		2020
	$		$
Proceeds from sales		79,019		54,291
Gross realized gains		809		836
Gross realized losses		79		27

Schedule of securities in an unrealized loss position (temporary impairment)

TEMPORARY IMPAIRMENTS OF SECURITIES

(DOLLARS IN THOUSANDS)

	Less than 12 months					More than 12 months					Total
			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	$		$			$		$			$		$
As of December 31, 2021
U.S. Treasuries		4,959		(22	)		—		—			4,959		(22	)
U.S. government agencies		16,386		(519	)		7,375		(123	)		23,761		(642	)
U.S. agency mortgage-backed securities		24,090		(468	)		2,458		(10	)		26,548		(478	)
U.S. agency collateralized mortgage obligations		14,206		(66	)		2,965		(15	)		17,171		(81	)
Asset-backed securities		50,466		(338	)		2,826		(46	)		53,292		(384	)
Corporate bonds		44,907		(528	)		—		—			44,907		(528	)
Obligations of states & political subdivisions		70,021		(1,043	)		6,023		(146	)		76,044		(1,189	)
Total temporarily impaired securities		225,035		(2,984	)		21,647		(340	)		246,682		(3,324	)
As of December 31, 2020
U.S. government agencies		42,988		(7	)		—		—			42,988		(7	)
U.S. agency mortgage-backed securities		15,995		(157	)		2,221		(9	)		18,216		(166	)
U.S. agency collateralized mortgage obligations		12,933		(54	)		—		—			12,933		(54	)
Asset-backed securities		8,465		(20	)		18,080		(325	)		26,545		(345	)
Corporate bonds		—		—			3,016		(12	)		3,016		(12	)
Obligations of states & political subdivisions		15,666		(77	)		—		—			15,666		(77	)
Total temporarily impaired securities		96,047		(315	)		23,317		(346	)		119,364		(661	)

Schedule of unrealized gains and losses, and fair value of equity securities

The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of equity securities held at December 31, 2021 and December 31, 2020.

			Gross		Gross
(DOLLARS IN THOUSANDS)	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	$		$		$			$
December 31, 2021
CRA-qualified mutual funds		7,240		—		—			7,240
Bank stocks		1,570		184		(12	)		1,742
Total equity securities		8,810		184		(12	)		8,982

			Gross		Gross
(DOLLARS IN THOUSANDS)	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	$		$		$			$
December 31, 2020
CRA-qualified mutual funds		6,176		—		—			6,176
Bank stocks		982		53		(106	)		929
Total equity securities		7,158		53		(106	)		7,105

Schedule of unrealized gains and losses

NET GAINS AND LOSSES ON EQUITY INVESTMENTS RECOGNIZED IN EARNINGS

(DOLLARS IN THOUSANDS)

	Year Ended			Year Ended
	December 31, 2021			December 31, 2020
	$			$
Net gains (losses) recognized in equity securities during the period		324			(76	)
Less: Net gains realized on the sale of equity securities during the period		(99	)		—
Unrealized gains (losses) recognized in equity securities held at reporting date		225			(76	)