INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The amortized cost and estimated fair value of debt securities at December 31 are summarized as follows (in thousands):

	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
2023
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	74,404	—	6,202	68,202
U.S. Agency notes	88,978		—	8,077	80,901
Corporate Bonds	7,450		—	916	6,534
U.S. Agency mortgage-backed securities	81,634		2	8,846	72,790
Municipal securities:
Non-taxable	7,416		—	245	7,171
Taxable	44,923		1	3,921	41,003
	$	304,805	3	28,207	276,601
Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	13,580	4	872	12,712
Taxable	3,283		—	316	2,967
	$	16,863	4	1,188	15,679
2022
Debt Securities Available-for-Sale:
U.S. Treasury notes	$	84,927	—	8,480	76,447
U.S. Agency notes	89,160		—	11,184	77,976
Corporate Bonds	7,450		13	778	6,685
U.S. Agency mortgage-backed securities	90,746		5	11,311	79,440
Municipal securities:
Non-taxable	8,892		—	368	8,524
Taxable	46,556		1	5,779	40,778
	$	327,731	19	37,900	289,850
Debt Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	16,447	10	594	15,863
Taxable	3,431		—	409	3,022
	$	19,878	10	1,003	18,885

Securities in a Continuous Loss Position

Information concerning debt securities with gross unrealized losses at December 31, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):

	Less Than Twelve Months			Twelve Months or More
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses
2023
Available-for-Sale:
U.S. Treasury notes	$	—	—	68,202	6,202
U.S. Agency notes	—		—	80,901	8,077
Corporate Bonds	734		16	5,800	900
U.S. Agency mortgage-backed securities	—		—	72,287	8,846
Municipal securities:
Non-taxable	1,540		10	5,631	235
Taxable	—		—	40,392	3,921
	$	2,274	26	273,213	28,181
Held-to-Maturity:
Municipal securities:
Non-taxable	$	6,012	476	5,975	396
Taxable	—		—	2,966	316
	$	6,012	476	8,941	712
2022
Available-for-Sale:
U.S. Treasury notes	$	16,521	931	59,927	7,549
U.S. Agency notes	7,729		543	70,247	10,641
Corporate Bonds	2,667		283	3,255	495
U.S. Agency mortgage-backed securities	41,543		3,597	37,282	7,714
Municipal securities:
Non-taxable	6,831		248	893	120
Taxable	22,162		1,951	18,435	3,828
	$	97,453	7,553	190,039	30,347
Held-to-Maturity:
Municipal securities:
Non-taxable	$	9,567	593	31	1
Taxable	2,811		370	212	39
	$	12,378	963	243	40

Investments Classified by Contractual Maturity Date

Contractual maturities of debt securities at December 31, 2023 were as follows (in thousands).  Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.

	Available-for-Sale			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Due within one year	$	19,196	18,638	1,469	1,442
Due from one to five years	169,415		154,423	1,319	1,270
Due from five to ten years	34,560		30,750	2,849	2,687
Due after ten years	—		—	11,226	10,280
	223,171		203,811	16,863	15,679
U.S. Agency mortgage-backed securities	81,634		72,790	—	—
	$	304,805	276,601	16,863	15,679

Realized Gain (Loss) on Investment Securities Available-for-Sale

Certain information concerning the sale of debt securities available-for-sale for the years ended December 31 was as follows (in thousands):

	2023		2022	2021
Proceeds from sales	$	5,210	—	21,235
Gross realized gains	—		—	365
Gross realized losses	—		—	62

Equity Securities with Readily Determinable Fair Value [Table Text Block]

The amortized cost and estimated fair value of equity securities with a readily determinable fair value at December 31 are summarized as follows (in thousands):

	2023			2022
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Mutual funds	$	1,415	1,240	1,429	1,234
Equity securities	10		96	778	1,039
Total equity securities with a readily determinable fair value	$	1,425	1,336	2,207	2,273

Equity Securities With Readily Determinable Fair Value, Changes in Fair Value [Table Text Block]

Certain information concerning changes in fair value of equity securities with a readily determinable fair value for the years ended December 31 was as follows (in thousands):

	2023		2022	2021
Net gains (losses) recognized during the period on equity securities	$	(5)	(292)	141
Less net losses recognized on equity securities sold during the period	(61)		—	—
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at period end	$	56	(292)	141