XML 54 R13.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Investment Securities | 6 Months Ended
--- | ---
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | INVESTMENT SECURITIES (In Thousands) The following table is the schedule of Available-For-Sale Securities at June 30, 2024, December 31, 2023 and June 30, 2023:
Available-For-Sale Securities
|  | U.S. Treasuries |  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Corporate and Other Debt Securities |  |  |  | Total Available- For-Sale Securities
June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 49,559 |  |  | $ | 160,000 |  |  | $ | 240 |  |  | $ | 283,468 |  |  | $ | 1,000 |  |  |  |  | $ | 494,267 |
Gross Unrealized Gains |  | — |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  |  |  | 17 |
Gross Unrealized Losses |  | (103) |  |  | (6,647) |  |  | — |  |  | (36,695) |  |  | (53) |  |  |  |  | (43,498) |
Available-For-Sale Securities, at Fair Value |  | 49,456 |  |  | 153,353 |  |  | 240 |  |  | 246,790 |  |  | 947 |  |  |  |  | 450,786 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | 299,368 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | 24,621 |  |  | $ | 60,000 |  |  | $ | — |  |  | $ | 2,058 |  |  | $ | — |  |  |  |  | $ | 86,679 |
From 1 - 5 Years |  | 24,938 |  |  | 100,000 |  |  | — |  |  | 179,619 |  |  | — |  |  |  |  | 304,557 |
From 5 - 10 Years |  | — |  |  | — |  |  | 240 |  |  | 101,791 |  |  | 1,000 |  |  |  |  | 103,031 |
Over 10 Years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | 24,608 |  |  | $ | 59,355 |  |  | $ | — |  |  | $ | 2,011 |  |  | $ | — |  |  |  |  | $ | 85,974 |
From 1 - 5 Years |  | 24,848 |  |  | 93,998 |  |  | — |  |  | 160,000 |  |  | — |  |  |  |  | 278,846 |
From 5 - 10 Years |  | — |  |  | — |  |  | 240 |  |  | 84,779 |  |  | 947 |  |  |  |  | 85,966 |
Over 10 Years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 49,456 |  |  | $ | 14,978 |  |  | $ | — |  |  | $ | 3,922 |  |  | $ | — |  |  |  |  | $ | 68,356 |
12 Months or Longer |  | — |  |  | 138,375 |  |  | — |  |  | 241,405 |  |  | 947 |  |  |  |  | 380,727 |
Total |  | $ | 49,456 |  |  | $ | 153,353 |  |  | $ | — |  |  | $ | 245,327 |  |  | $ | 947 |  |  |  |  | $ | 449,083 |
Number of Securities in a Continuous Loss Position |  | 2 |  |  | 21 |  |  | — |  |  | 98 |  |  | 1 |  |  |  |  | 122 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 103 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  |  |  | $ | 131 |
12 Months or Longer |  | — |  |  | 6,625 |  |  | — |  |  | 36,689 |  |  | 53 |  |  |  |  | 43,367 |
Total |  | $ | 103 |  |  | $ | 6,647 |  |  | $ | — |  |  | $ | 36,695 |  |  | $ | 53 |  |  |  |  | $ | 43,498 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Amortized Cost |  | $ | 49,559 |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Fair Value |  | 49,456 |  |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  |  |  | $ | 160,000 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  |  |  | 153,353 |  |  |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Amortized Cost |  |  |  |  |  | $ | 240 |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Fair Value |  |  |  |  |  | 240 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  |  |  | $ | 7,051 |  |  |  |  |  |  |
Available-For-Sale Securities
|  | U.S. Treasuries |  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Corporate and Other Debt Securities |  |  |  | Total Available- For-Sale Securities
US Government Agency Securities, at Fair Value |  |  |  |  |  |  |  | 6,714 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  |  |  | 276,417 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  |  |  | 240,076 |  |  |  |  |  |  |
Corporate Trust Preferred Securities, at Amortized Cost |  |  |  |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |
Corporate Trust Preferred Securities, at Fair Value |  |  |  |  |  |  |  |  |  | 947 |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 73,761 |  |  | $ | 160,000 |  |  | $ | 280 |  |  | $ | 305,161 |  |  | $ | 1,000 |  |  |  |  | $ | 540,202 |
Gross Unrealized Gains |  | 243 |  |  | 51 |  |  | — |  |  | 6 |  |  | — |  |  |  |  | 300 |
Gross Unrealized Losses |  | — |  |  | (7,126) |  |  | — |  |  | (35,407) |  |  | (200) |  |  |  |  | (42,733) |
Available-For-Sale Securities, at Fair Value |  | 74,004 |  |  | 152,925 |  |  | 280 |  |  | 269,760 |  |  | 800 |  |  |  |  | 497,769 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | 242,938 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
12 Months or Longer |  | — |  |  | 137,874 |  |  | — |  |  | 269,286 |  |  | 800 |  |  |  |  | 407,960 |
Total |  | $ | — |  |  | $ | 137,874 |  |  | $ | — |  |  | $ | 269,286 |  |  | $ | 800 |  |  |  |  | $ | 407,960 |
Number of Securities in a Continuous Loss Position |  | — |  |  | 19 |  |  | — |  |  | 97 |  |  | 1 |  |  |  |  | 117 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
12 Months or Longer |  | — |  |  | 7,126 |  |  | — |  |  | 35,407 |  |  | 200 |  |  |  |  | 42,733 |
Total |  | $ | — |  |  | $ | 7,126 |  |  | $ | — |  |  | $ | 35,407 |  |  | $ | 200 |  |  |  |  | $ | 42,733 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Amortized Cost |  | $ | 73,761 |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Fair Value |  | 74,004 |  |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  |  |  | $ | 160,000 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  |  |  | 152,925 |  |  |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Amortized Cost |  |  |  |  |  | $ | 280 |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Fair Value |  |  |  |  |  | 280 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  |  |  | $ | 7,291 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  |  |  | 6,864 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  |  |  | 297,870 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  |  |  | 262,896 |  |  |  |  |  |  |
Corporate Trust Preferred Securities, at Amortized Cost |  |  |  |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |
Available-For-Sale Securities
|  | U.S. Treasuries |  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Corporate and Other Debt Securities |  |  |  | Total Available- For-Sale Securities
Corporate Trust Preferred Securities, at Fair Value |  |  |  |  |  |  |  |  |  | 800 |  |  |  |  |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | — |  |  | $ | 190,000 |  |  | $ | 280 |  |  | $ | 414,995 |  |  | $ | 1,000 |  |  |  |  | $ | 606,275 |
Gross Unrealized Gains |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  |  |  | 3 |
Gross Unrealized Losses |  | — |  |  | (13,984) |  |  | — |  |  | (48,386) |  |  | (200) |  |  |  |  | (62,570) |
Available-For-Sale Securities, at Fair Value |  | — |  |  | 176,016 |  |  | 280 |  |  | 366,612 |  |  | 800 |  |  |  |  | 543,708 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | 362,707 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | 29,509 |  |  | $ | — |  |  | $ | 24,851 |  |  | $ | — |  |  |  |  | $ | 54,360 |
12 Months or Longer |  | — |  |  | 146,505 |  |  | — |  |  | 341,648 |  |  | 800 |  |  |  |  | 488,953 |
Total |  | $ | — |  |  | $ | 176,014 |  |  | $ | — |  |  | $ | 366,499 |  |  | $ | 800 |  |  |  |  | $ | 543,313 |
Number of Securities in a Continuous Loss Position |  | — |  |  | 25 |  |  | — |  |  | 154 |  |  | 1 |  |  |  |  | 180 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | 490 |  |  | $ | — |  |  | $ | 551 |  |  | $ | — |  |  |  |  | $ | 1,041 |
12 Months or Longer |  | — |  |  | 13,494 |  |  | — |  |  | 47,835 |  |  | 200 |  |  |  |  | 61,529 |
Total |  | $ | — |  |  | $ | 13,984 |  |  | $ | — |  |  | $ | 48,386 |  |  | $ | 200 |  |  |  |  | $ | 62,570 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Amortized Cost |  | $ | — |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Fair Value |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  |  |  | $ | 190,000 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  |  |  | 176,016 |  |  |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Amortized Cost |  |  |  |  |  | $ | 280 |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Fair Value |  |  |  |  |  | 280 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  |  |  | $ | 7,573 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  |  |  | 7,048 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  |  |  | 407,422 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  |  |  | 359,564 |  |  |  |  |  |  |
Corporate Trust Preferred Securities, at Amortized Cost |  |  |  |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |
Corporate Trust Preferred Securities, at Fair Value |  |  |  |  |  |  |  |  |  | 800 |  |  |  |  |
At June 30, 2024, there was no allowance for credit losses for the AFS debt securities portfolio. The following table is the schedule of Held-To-Maturity Securities at June 30, 2024, December 31, 2023 and June 30, 2023:
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  |  |  | Total Held-To Maturity Securities
June 30, 2024 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 91,659 |  |  | $ | 7,689 |  |  |  |  | $ | 99,348 |
Gross Unrealized Losses |  | (2,530) |  |  | (364) |  |  |  |  | (2,894) |
Held-To-Maturity Securities, at Fair Value |  | 89,129 |  |  | 7,325 |  |  |  |  | 96,454 |
Held-To-Maturity Securities, Pledged as Collateral, at Carrying Value |  |  |  |  |  |  |  | 79,625 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  | 76,732 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |
Within One Year |  | $ | 46,357 |  |  | $ | — |  |  |  |  | $ | 46,357 |
From 1 - 5 Years |  | 43,785 |  |  | 7,689 |  |  |  |  | 51,474 |
From 5 - 10 Years |  | 1,511 |  |  | — |  |  |  |  | 1,511 |
Over 10 Years |  | 6 |  |  | — |  |  |  |  | 6 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |
Within One Year |  | $ | 45,702 |  |  | $ | — |  |  |  |  | $ | 45,702 |
From 1 - 5 Years |  | 41,956 |  |  | 7,325 |  |  |  |  | 49,281 |
From 5 - 10 Years |  | 1,465 |  |  | — |  |  |  |  | 1,465 |
Over 10 Years |  | 6 |  |  | — |  |  |  |  | 6 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 236 |  |  | $ | — |  |  |  |  | $ | 236 |
12 Months or Longer |  | 73,733 |  |  | 7,325 |  |  |  |  | 81,058 |
Total |  | $ | 73,969 |  |  | $ | 7,325 |  |  |  |  | $ | 81,294 |
Number of Securities in a Continuous Loss Position |  | 237 |  |  | 16 |  |  |  |  | 253 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 4 |  |  | $ | — |  |  |  |  | $ | 4 |
12 Months or Longer |  | 2,526 |  |  | 364 |  |  |  |  | 2,890 |
Total |  | $ | 2,530 |  |  | $ | 364 |  |  |  |  | $ | 2,894 |
Disaggregated Details: |  |  |  |  |  |  |  |
Municipal Obligations, at Amortized Cost |  | $ | 91,659 |  |  |  |  |  |  |
Municipal Obligations, at Fair Value |  | 89,129 |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 2,722 |  |  |  |  |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  |  |  | Total Held-To Maturity Securities
US Government Agency Securities, at Fair Value |  |  |  | 2,583 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 4,967 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 4,742 |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 122,450 |  |  | $ | 8,945 |  |  |  |  | $ | 131,395 |
Gross Unrealized Losses |  | (2,157) |  |  | (401) |  |  |  |  | (2,558) |
Held-To-Maturity Securities, at Fair Value |  | 120,293 |  |  | 8,544 |  |  |  |  | 128,837 |
Held-To-Maturity Securities, Pledged as Collateral, at Carrying Value |  |  |  |  |  |  |  | 115,030 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  | 112,472 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 1,472 |  |  | $ | — |  |  |  |  | $ | 1,472 |
12 Months or Longer |  | 102,839 |  |  | 8,544 |  |  |  |  | 111,383 |
Total |  | $ | 104,311 |  |  | $ | 8,544 |  |  |  |  | $ | 112,855 |
Number of Securities in a Continuous Loss Position |  | 319 |  |  | 16 |  |  |  |  | 335 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 14 |  |  | $ | — |  |  |  |  | $ | 14 |
12 Months or Longer |  | 2,143 |  |  | 402 |  |  |  |  | 2,545 |
Total |  | $ | 2,157 |  |  | $ | 402 |  |  |  |  | $ | 2,559 |
Disaggregated Details: |  |  |  |  |  |  |  |
Municipal Obligations, at Amortized Cost |  | $ | 122,450 |  |  |  |  |  |  |
Municipal Obligations, at Fair Value |  | 120,293 |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,114 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 2,954 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 5,831 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 5,589 |  |  |  |  |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  |  |  | Total Held-To Maturity Securities
June 30, 2023 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 133,176 |  |  | $ | 10,284 |  |  |  |  | $ | 143,460 |
Gross Unrealized Gains |  | — |  |  | — |  |  |  |  | — |
Gross Unrealized Losses |  | (3,717) |  |  | (600) |  |  |  |  | (4,317) |
Held-To-Maturity Securities, at Fair Value |  | 129,459 |  |  | 9,684 |  |  |  |  | 139,143 |
Held-To-Maturity Securities, Pledged as Collateral, at Carrying Value |  |  |  |  |  |  |  | 120,449 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  | 115,674 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 19,210 |  |  | $ | — |  |  |  |  | $ | 19,210 |
12 Months or Longer |  | 94,163 |  |  | 9,684 |  |  |  |  | 103,847 |
Total |  | $ | 113,373 |  |  | $ | 9,684 |  |  |  |  | $ | 123,057 |
Number of Securities in a Continuous Loss Position |  | 343 |  |  | 16 |  |  |  |  | 359 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 292 |  |  | $ | — |  |  |  |  | $ | 292 |
12 Months or Longer |  | 3,425 |  |  | 600 |  |  |  |  | 4,025 |
Total |  | $ | 3,717 |  |  | $ | 600 |  |  |  |  | $ | 4,317 |
Disaggregated Details: |  |  |  |  |  |  |  |
Municipal Obligations, at Amortized Cost |  | $ | 133,176 |  |  |  |  |  |  |
Municipal Obligations, at Fair Value |  | 129,459 |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,516 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 3,295 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 6,768 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 6,389 |  |  |  |  |
In the tables above, maturities of mortgage-backed securities are included based on their contractual lives. Actual maturities will differ because issuers may have the right to call or prepay obligations with or without prepayment penalties. Arrow's investment policy requires that investments held in our portfolio be investment grade or better at the time of purchase. Arrow performs an analysis of the creditworthiness of municipal obligations to determine if a security is of investment grade. The analysis may include but may not solely rely upon credit analysis conducted by external credit rating agencies. Arrow evaluates AFS debt securities in unrealized loss positions at each measurement date to determine whether the decline in the fair value below the amortized cost basis (impairment) is due to credit-related factors or non-credit-related factors. Any impairment that is not credit related is recognized in other comprehensive income, net of applicable taxes. Credit-related impairment is recognized within the allowance for credit losses on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings via credit loss expense. Arrow determined that at June 30, 2024, gross unrealized losses were attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. Arrow does not intend to sell, nor is it more likely than not that Arrow will be required to sell any securities before recovery of its amortized cost basis, which may be at maturity. Therefore, Arrow carried no allowance for credit loss at June 30, 2024 and there was no credit loss expense recognized by Arrow with respect to the securities portfolio during the three months ended June 30, 2024. Arrow's HTM debt securities are comprised of U.S. government-sponsored enterprises (GSEs) or state and municipal obligations. GSE securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Arrow determined that the expected credit loss on its HTM debt portfolio was immaterial and therefore no allowance for credit loss was recorded as of June 30, 2024. The following table is the schedule of Equity Securities at June 30, 2024, December 31, 2023 and June 30, 2023:
Equity Securities
|  | June 30, 2024 | December 31, 2023 | June 30, 2023
Equity Securities, at Fair Value |  | $1,996 | $1,925 | $1,889
The following is a summary of realized and unrealized gains and losses recognized in net income on equity securities during the three and six month periods ended June 30, 2024 and 2023:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2024 |  |  |  | 2023 |  | 2024 |  | 2023 |  |
Net Gain (Loss) on Equity Securities | $ | 54 |  |  |  |  | $ | (181) |  |  | $ | 71 |  |  | $ | (285) |  |  |
Less: Net gain recognized during the reporting period on equity securities sold during the period | — |  |  |  |  | — |  |  | — |  |  | — |  |  |
Unrealized net gain (loss) recognized during the reporting period on equity securities still held at the reporting date | $ | 54 |  |  |  |  | $ | (181) |  |  | $ | 71 |  |  | $ | (285) |  |  |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration