SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

SECURITIES [Abstract]

Amortized Cost and Fair Value of Investment Securities, by Category

Amortized cost and fair value of investment securities, by category, at June 30, 2020 are summarized as follows:

2020	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	305,338	$	11,053	$	(248	)	$	316,143
U. S. sponsored agency CMO’s - residential		47,888		1,308		–			49,196
Total mortgage-backed securities of government sponsored agencies		353,226		12,361		(248	)		365,339
U. S. government sponsored agency securities		9,392		154		–			9,546
Obligations of states and political subdivisions		38,541		1,183		–			39,724
Other securities		1,963		135		(7	)		2,091
Total available for sale	$	403,122	$	13,833	$	(255	)	$	416,700

Amortized cost and fair value of investment securities, by category, at December 31, 2019 are summarized as follows:

2019	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	276,013	$	3,618	$	(322	)	$	279,309
U. S. sponsored agency CMO’s - residential		61,989		768		(113	)		62,644
Total mortgage-backed securities of government sponsored agencies		338,002		4,386		(435	)		341,953
U. S. government sponsored agency securities		30,538		280		(88	)		30,730
Obligations of states and political subdivisions		15,570		453		(6	)		16,017
Other securities		1,956		98		–			2,054
Total available for sale	$	386,066	$	5,217	$	(529	)	$	390,754

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2020 by contractual maturity are shown below.  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.

	Amortized Cost		Fair Value
Available for sale
Due in one year or less	$	8,742	$	8,825
Due after one year through five years		26,090		26,718
Due after five years through ten years		9,437		9,716
Due after ten years		5,627		6,102
Mortgage-backed securities of government sponsored agencies		353,226		365,339
Total available for sale	$	403,122	$	416,700

Securities with Unrealized Losses in Continuous Unrealized Loss Position

Securities with unrealized losses at June 30, 2020 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More				Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S government sponsored agency MBS – residential	$	43,995	$	(248	)	$	–	$	–	$	43,995	$	(248	)
Other securities		241		(7	)		–		–		241		(7	)
Total temporarily impaired	$	44,236	$	(255	)	$	–	$	–	$	44,236	$	(255	)

Securities with unrealized losses at December 31, 2019 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S government sponsored agency securities	$	10,851	$	(84	)	$	3,957	$	(4	)	$	14,808	$	(88	)
U.S government sponsored agency MBS – residential		50,945		(199	)		12,930		(123	)		63,875		(322	)
U.S government sponsored agency CMO’s – residential		4,376		(3	)		8,815		(110	)		13,191		(113	)
Obligations of states and political subdivisions		1,866		(6	)		–		–			1,866		(6	)
Total temporarily impaired	$	68,038	$	(292	)	$	25,702	$	(237	)	$	93,740	$	(529	)