INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and related market value of investment securities available-for-sale

Note 2
INVESTMENT SECURITIES

Investment Portfolio Composition. The amortized cost and related market value of investment securities available-for-sale and
held-to-maturity were as follows:
	2019									2018
	Amortized		Unrealized		Unrealized		Market		Amortized		Unrealized		Unrealized		Market
(Dollars in Thousands)	Cost		Gains		Losses		Value		Cost		Gain		Losses		Value
Available for Sale
U.S. Government Treasury	$	231,996	$	849	$	67	$	232,778	$	264,298	$	167	$	2,616	$	261,849
U.S. Government Agency		155,706		697		325		156,078		133,201		520		515		133,206
States and Political Subdivisions		6,310		9		-		6,319		42,509		-		144		42,365
Mortgage-Backed Securities		693		80		-		773		903		40		-		943
Equity Securities⁽¹⁾		7,653		-		-		7,653		7,794		-		-		7,794
Total	$	402,358	$	1,635	$	392	$	403,601	$	448,705	$	727	$	3,275	$	446,157

Held to Maturity
U.S. Government Treasury	$	20,036	$	15	$	9	$	20,042	$	35,088	$	-	$	477	$	34,611
States and Political Subdivisions		1,376		-		-		1,376		6,512		-		26		6,486
Mortgage-Backed Securities		218,127		2,064		180		220,011		175,720		220		2,624		173,316
Total	$	239,539	$	2,079	$	189	$	241,429	$	217,320	$	220	$	3,127	$	214,413

Total Investment Securities	$	641,897	$	3,714	$	581	$	645,030	$	666,025	$	947	$	6,402	$	660,570

⁽¹⁾ Includes Federal Home Loan Bank and Federal Reserve Bank recorded at cost of $2.9 million and $4.8 million, respectively, at December 31, 2019 and Federal Home Loan Bank and Federal Reserve Bank recorded at cost of $3.0 million and $4.8 million, respectively, at December 31, 2018.

Schedule of investment securities with maturity distribution based on contractual maturities

	Available for Sale				Held to Maturity
	Amortized		Market		Amortized		Market
(Dollars in Thousands)	Cost		Value		Cost		Value
Due in one year or less	$	134,339	$	134,331	$	16,406	$	16,397
Due after one through five years		103,967		104,766		5,006		5,021
Mortgage-Backed Securities		693		773		218,127		220,011
U.S. Government Agency		155,706		156,078		-		-
Equity Securities		7,653		7,653		-		-
Total	$	402,358	$	403,601	$	239,539	$	241,429

Schedule of investment securities with continuous unrealized loss position

	Less Than 12 Months				Greater Than 12 Months				Total
	Market		Unrealized		Market		Unrealized		Market		Unrealized
(Dollars in Thousands)	Value		Losses		Value		Losses		Value		Losses
December 31, 2019
Available for Sale
U.S. Government Treasury	$	9,955	$	-	$	93,310	$	67	$	103,265	$	67
U.S. Government Agency		36,361		244		17,364		81		53,725		325
States and Political Subdivisions		578		-		-		-		578		-
Mortgage-Backed Securities		8		-		-		-		8		-
Total		46,902		244		110,674		148		157,576		392

Held to Maturity
U.S. Government Treasury		-		-		15,022		9		15,022		9
States and Political Subdivisions		1,033		-		-		-		1,033		-
Mortgage-Backed Securities		22,581		42		16,027		138		38,608		180
Total	$	23,614	$	42	$	31,049	$	147	$	54,663	$	189

December 31, 2018
Available for Sale
U.S. Government Treasury	$	28,420	$	80	$	193,501	$	2,536	$	221,921	$	2,616
U.S. Government Agency		53,237		271		28,735		244		81,972		515
States and Political Subdivisions		8,243		12		31,417		132		39,660		144
Mortgage-Backed Securities		10		-		-		-		10		-
Total		89,910		363		253,653		2,912		343,563		3,275

Held to Maturity
U.S. Government Treasury		-		-		34,612		477		34,612		477
States and Political Subdivisions		204		-		6,281		26		6,485		26
Mortgage-Backed Securities		51,327		389		84,705		2,235		136,032		2,624
Total	$	51,531	$	389	$	125,598	$	2,738	$	177,129	$	3,127