INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Debt Securities, Available-for-Sale

Investment securities available for sale are carried at estimated fair market value. The amortized cost and estimated fair values of these investment securities are as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
December 31, 2023:
Obligations of states and political subdivisions	$	273,595	$	2,443	$	(26,437)	$	249,601
Corporate securities	485		—		—		485
Total	$	274,080	$	2,443	$	(26,437)	$	250,086
December 31, 2022:
Obligations of states and political subdivisions	$	253,068	$	1,034	$	(34,454)	$	219,648
Corporate securities	380		—		—		380
Total	$	253,448	$	1,034	$	(34,454)	$	220,028

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair values of investment securities at December 31, 2023, by contractual maturity, are shown below (in thousands):

	Amortized Cost		Estimated Fair Value
Due in one year or less	$	485	$	485
Due after one year through five years	3,101		3,084
Due after five years through ten years	23,288		23,677
Due after ten years	247,206		222,840
Total	$	274,080	$	250,086

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table provides an analysis of available for sale investment securities in an unrealized loss position (in thousands).

	Less than 12 Months				12 Months or Longer				Total
December 31, 2023	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of states and political subdivisions	$	33,724	$	(421)	$	112,931	$	(26,017)	$	146,655	$	(26,438)

	Less than 12 Months				12 Months or Longer				Total
December 31, 2022	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of states and political subdivisions	$	118,495	$	(9,237)	$	42,314	$	(25,126)	$	160,809	$	(34,363)