SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

SECURITIES

Schedule of amortized cost, related estimated fair value, and unrealized gains and losses for debt securities classified as Available-For-Sale

The amortized cost, related estimated fair value, and unrealized gains and losses for debt securities classified as “available-for-sale” were as follows at December 31, 2020 and 2019:

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2020:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	—	$	—	$	—	$	—
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		76,270		1,628		(325)		77,573
Other		10,534		2		(106)		10,430
Other mortgage backed securities		39,420		470		(46)		39,844
Obligations of state and political subdivisions		150,922		14,193		(14)		165,101
Asset backed securities		44,751		158		(88)		44,821
Corporate debt securities		28,523		481		(62)		28,942
Total	$	350,420	$	16,932	$	(641)	$	366,711

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	2,852	$	3	$	—	$	2,855
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		77,131		539		(387)		77,283
Other		10,381		4		(88)		10,297
Other mortgage backed securities		11,145		3		(10)		11,138
Obligations of state and political subdivisions		114,934		5,490		(48)		120,376
Asset backed securities		37,596		115		(175)		37,536
Corporate debt securities		18,546		182		(285)		18,443
Total	$	272,585	$	6,336	$	(993)	$	277,928

Schedule of amortized cost and estimated fair value of debt securities, by contractual maturity

The amortized cost and fair value of securities, by contractual maturity, are shown below at December 31, 2020. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

(Dollars in thousands)	Available-for-Sale
	Amortized
	Cost		Fair Value
1 year or less	$	4,823	$	4,849
Over 1 year through 5 years		40,494		42,113
Over 5 years through 10 years		40,409		41,845
Over 10 years		149,004		160,487
Mortgage-backed securities		115,690		117,417
Total	$	350,420	$	366,711

Schedule of unrealized and realized gains and losses recognized in net income on equity securities

(Dollars in thousands)
	December 31, 2020		December 31, 2019
Net (losses) and gains recognized during the period on equity securities	$	(287)	$	373
Less: Net gains and (losses) recognized during the period on equity securities sold during the period		—		—
Net (losses) and gains recognized during the reporting period on equity securities still held at the reporting date	$	(287)	$	373

Schedule of gross unrealized losses and fair value of the corporations debt securities

The summary below shows the gross unrealized losses and fair value of the Corporation’s debt securities, aggregated by investment category, of which individual securities have been in a continuous unrealized loss position for less than 12 months or 12 months or more as of December 31, 2020 and 2019:

December 31, 2020

(Dollars in thousands)	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available-for-Sale:	Value		Loss		Value		Loss		Value		Loss
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		13,859		(302)		5,729		(23)		19,588		(325)
Other		2,497		(32)		6,709		(74)		9,206		(106)
Other mortgage backed debt securities		8,290		(46)		—		—		8,290		(46)
Obligations of state and political subdivisions		4,122		(14)		—		—		4,122		(14)
Asset backed securities		6,827		(8)		11,018		(80)		17,845		(88)
Corporate debt securities		5,489		(11)		1,949		(51)		7,438		(62)
Total	$	41,084	$	(413)	$	25,405	$	(228)	$	66,489	$	(641)

December 31, 2019

(Dollars in thousands)	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available-for-Sale:	Value		Loss		Value		Loss		Value		Loss
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		39,085		(221)		12,650		(166)		51,735		(387)
Other		4,382		(24)		4,594		(64)		8,976		(88)
Other mortgage backed debt securities		4,056		(10)		—		—		4,056		(10)
Obligations of state and political subdivisions		1,993		(15)		1,081		(33)		3,074		(48)
Asset backed securities		19,236		(175)		—		—		19,236		(175)
Corporate debt securities		3,484		(16)		7,231		(269)		10,715		(285)
Total	$	72,236	$	(461)	$	25,556	$	(532)	$	97,792	$	(993)