XML 22 R10.htm IDEA: XBRL DOCUMENT v3.22.1
Subsequent Event
12 Months Ended
Dec. 31, 2021
Subsequent Event  
Subsequent Event

2. Subsequent Event

Subsequent to December 31, 2021, the Company transferred investments that were classified as available for sale to the held to maturity classification.  The investment securities had a cost basis of approximately $149.0 million and a fair market value of approximately $139.0 million at the time of transfer.  There was no impact to the income statement as a result of the reclassification.  This transfer was to mitigate the potential future impact to capital through accumulated other comprehensive loss in consideration of a rising interest rate environment and the impact of rising rates on the market value of the fixed income bond portfolio.  The Company believes that it maintains sufficient liquidity for future business needs.