SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

SECURITIES

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

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2023:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	7,874	$	—	$	(1,117)	$	6,757
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		137,840		—		(19,483)		118,357
Other		8,493		158		(57)		8,594
Other mortgage backed securities		35,163		24		(3,391)		31,796
Obligations of state and political subdivisions		99,519		3		(16,377)		83,145
Asset-backed securities		48,107		115		(690)		47,532
Corporate debt securities		41,692		74		(4,770)		36,996
Total	$	378,688	$	374	$	(45,885)	$	333,177

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2022:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	7,853	$	—	$	(1,052)	$	6,801
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		146,707		—		(15,032)		131,675
Other		10,992		233		(45)		11,180
Other mortgage backed securities		36,767		—		(3,079)		33,688
Obligations of state and political subdivisions		125,176		266		(14,753)		110,689
Asset-backed securities		37,526		—		(1,108)		36,418
Corporate debt securities		45,838		183		(3,028)		42,993
Total	$	410,859	$	682	$	(38,097)	$	373,444

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

			September 30, 2023
			Debt Securities Available-For-Sale
(Dollars in thousands)				U.S. Government		Other		Obligations
				Agency &		Mortgage		of State		Asset		Corporate
	U.S. Treasury			Sponsored Agency		Backed Debt		& Political		Backed		Debt
	Securities			Obligations1		Securities1		Subdivisions		Securities		Securities
Within 1 Year:
Amortized cost	$	—		$	—	$	6,221	$	2,188	$	—	$	8,530
Fair value		—			—		6,115		2,182		—		8,529
1 - 5 Years:
Amortized cost		7,874			4,291		1,437		19,573		—		—
Fair value		6,757			4,236		1,342		18,539		—		—
5 - 10 Years:
Amortized cost		—			9,752		—		21,849		1,737		33,162
Fair value		—			9,853		—		18,257		1,729		28,467
After 10 Years:
Amortized cost		—			132,290		27,505		55,909		46,370		—
Fair value		—			112,862		24,339		44,167		45,803		—
Total:
Amortized cost	$	7,874		$	146,333	$	35,163	$	99,519	$	48,107	$	41,692
Fair value		6,757			126,951		31,796		83,145		47,532		36,996

¹ Mortgage-backed securities are allocated for maturity reporting at their original maturity date.

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

(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	$	—	$	—	$	6,757	$	(1,117)	$	6,757	$	(1,117)
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		36,745		(2,175)		81,612		(17,308)		118,357		(19,483)
Other		1,184		(19)		2,291		(38)		3,475		(57)
Other mortgage-backed debt securities		1,591		(4)		27,282		(3,387)		28,873		(3,391)
Obligations of state and political subdivisions		4,216		(137)		77,700		(16,240)		81,916		(16,377)
Asset-backed securities		14,454		(14)		15,612		(676)		30,066		(690)
Corporate debt securities		2,813		(284)		31,109		(4,486)		33,922		(4,770)
Total	$	61,003	$	(2,633)	$	242,363	$	(43,252)	$	303,366	$	(45,885)

December 31, 2022

(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	$	—	$	—	$	6,801	$	(1,052)	$	6,801	$	(1,052)
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		61,067		(2,184)		65,174		(12,848)		126,241		(15,032)
Other		1,589		(2)		3,168		(43)		4,757		(45)
Other mortgage-backed debt securities		16,167		(962)		17,521		(2,117)		33,688		(3,079)
Obligations of state and political subdivisions		56,565		(5,881)		35,704		(8,872)		92,269		(14,753)
Asset-backed securities		24,136		(405)		12,282		(703)		36,418		(1,108)
Corporate debt securities		15,827		(1,073)		18,345		(1,955)		34,172		(3,028)
Total	$	175,351	$	(10,507)	$	158,995	$	(27,590)	$	334,346	$	(38,097)

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

(Dollars in thousands)	Nine months ended		Nine months ended
	September 30, 2023		September 30, 2022
Net losses from market value fluctuations recognized during the period on equity securities	$	(311)	$	(208)
Less: Net gains recognized during the period on equity securities sold during the period		—		27
Net losses recognized during the reporting period on equity securities still held at the reporting date	$	(311)	$	(181)