Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

Note 3 – Securities

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:

	(In Thousands)
	2020
			Gross		Gross			Fair
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Available-for-Sale:
U.S. Treasury	$	-	$	-	$	-		$	-
U.S. Government agencies		122,514		1,857		(130	)		124,241
Mortgage-backed securities		110,828		2,228		-			113,056
State and local governments		67,260		3,265		(10	)		70,515
Total available-for-sale securities	$	300,602	$	7,350	$	(140	)	$	307,812

	(In Thousands)
	2019
			Gross		Gross			Fair
	Amortized		Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
Available-for-Sale:
U.S. Treasury	$	10,023	$	10	$	(12	)	$	10,021
U.S. Government agencies		61,882		584		(21	)		62,445
Mortgage-backed securities		94,998		426		(227	)		95,197
State and local governments		54,001		749		(120	)		54,630
Total available-for-sale securities	$	220,904	$	1,769	$	(380	)	$	222,293

Gross Unrealized Losses, Aggregated by Investment Category and Length of Time

Information pertaining to securities with gross unrealized losses at December 31, 2020 and 2019, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

	2020
	(In Thousands)					(In Thousands)
	Less Than Twelve Months					Twelve Months & Over
	Gross					Gross
	Unrealized			Fair		Unrealized		Fair
	Losses			Value		Losses		Value
U.S. Treasury	$	-		$	-	$	-	$	-
U.S. Government agencies		(130	)		48,331		-		-
Mortgage-backed securities		-			-		-		-
State and local governments		(10	)		3,562		-		-
Total available-for-sales securities	$	(140	)	$	51,893	$	-	$	-

	2019
	(In Thousands)					(In Thousands)
	Less Than Twelve Months					Twelve Months & Over
	Gross					Gross
	Unrealized			Fair		Unrealized			Fair
	Losses			Value		Losses			Value
U.S. Treasury	$	-		$	-	$	(12	)	$	5,030
U.S. Government agencies		(16	)		10,549		(5	)		10,745
Mortgage-backed securities		(102	)		27,696		(125	)		11,332
State and local governments		(120	)		16,845		-			-
Total available-for-sales securities	$	(238	)	$	55,090	$	(142	)	$	27,107

Gross Realized Gains and Losses

gross realized gains and losses for the years ended December 31, as presented below:

	(In Thousands)
	2020		2019			2018
Gross realized gains	$	270	$	16		$	51
Gross realized losses		-		(42	)		(60	)
Net realized gains (losses)	$	270	$	(26	)	$	(9	)
Tax expense (benefit) related to net realized gains (losses)	$	57	$	(5	)	$	(2	)

Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and fair value of debt securities at December 31, 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.

	(In Thousands)
	Amortized
	Cost		Fair Value
One year or less	$	1,044	$	1,054
After one year through five years		63,793		65,323
After five years through ten years		123,275		126,630
After ten years		1,662		1,749
Total	$	189,774	$	194,756
Mortgage-backed securities		110,828		113,056
Total	$	300,602	$	307,812