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Investment Securities | 9 Months Ended
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Sep. 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 September 30, 2024, December 31, 2023 and September 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
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 49,795 |  |  | $ | 145,000 |  |  | $ | 240 |  |  | $ | 272,008 |  |  | $ | 1,000 |  |  |  |  | $ | 468,043 |
Gross Unrealized Gains |  | 229 |  |  | 58 |  |  | — |  |  | 33 |  |  | — |  |  |  |  | 320 |
Gross Unrealized Losses |  | — |  |  | (3,708) |  |  | — |  |  | (27,545) |  |  | (43) |  |  |  |  | (31,296) |
Available-For-Sale Securities, at Fair Value |  | 50,024 |  |  | 141,350 |  |  | 240 |  |  | 244,496 |  |  | 957 |  |  |  |  | 437,067 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | 332,430 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | 24,846 |  |  | $ | 60,000 |  |  | $ | — |  |  | $ | 2,012 |  |  | $ | — |  |  |  |  | $ | 86,858 |
From 1 - 5 Years |  | 24,949 |  |  | 85,000 |  |  | — |  |  | 170,711 |  |  | 1,000 |  |  |  |  | 281,660 |
From 5 - 10 Years |  | — |  |  | — |  |  | 240 |  |  | 99,285 |  |  | — |  |  |  |  | 99,525 |
Over 10 Years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | 24,865 |  |  | $ | 59,319 |  |  | $ | — |  |  | $ | 1,985 |  |  | $ | — |  |  |  |  | $ | 86,169 |
From 1 - 5 Years |  | 25,159 |  |  | 82,031 |  |  | — |  |  | 156,934 |  |  | 957 |  |  |  |  | 265,081 |
From 5 - 10 Years |  | — |  |  | — |  |  | 240 |  |  | 85,577 |  |  | — |  |  |  |  | 85,817 |
Over 10 Years |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
12 Months or Longer |  | — |  |  | 126,292 |  |  | — |  |  | 238,220 |  |  | 957 |  |  |  |  | 365,469 |
Total |  | $ | — |  |  | $ | 126,292 |  |  | $ | — |  |  | $ | 238,220 |  |  | $ | 957 |  |  |  |  | $ | 365,469 |
Number of Securities in a Continuous Loss Position |  | — |  |  | 17 |  |  | — |  |  | 91 |  |  | 1 |  |  |  |  | 109 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
12 Months or Longer |  | — |  |  | 3,708 |  |  | — |  |  | 27,545 |  |  | 43 |  |  |  |  | 31,296 |
Total |  | $ | — |  |  | $ | 3,708 |  |  | $ | — |  |  | $ | 27,545 |  |  | $ | 43 |  |  |  |  | $ | 31,296 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Amortized Cost |  | $ | 49,795 |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasuries, at Fair Value |  | 50,024 |  |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  |  |  | $ | 145,000 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  |  |  | 141,350 |  |  |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Amortized Cost |  |  |  |  |  | $ | 240 |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Fair Value |  |  |  |  |  | 240 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  |  |  | $ | 6,908 |  |  |  |  |  |  |
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 |  |  |  |  |  |  |  | 6,690 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  |  |  | 265,100 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  |  |  | 237,806 |  |  |  |  |  |  |
Corporate Trust Preferred Securities, at Amortized Cost |  |  |  |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |
Corporate Trust Preferred Securities, at Fair Value |  |  |  |  |  |  |  |  |  | 957 |  |  |  |  |
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 |  |  |  |  |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | — |  |  | $ | 190,000 |  |  | $ | 280 |  |  | $ | 398,323 |  |  | $ | 1,000 |  |  |  |  | $ | 589,603 |
Gross Unrealized Gains |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  |  |  | 1 |
Gross Unrealized Losses |  | — |  |  | (13,579) |  |  | — |  |  | (56,585) |  |  | (200) |  |  |  |  | (70,364) |
Available-For-Sale Securities, at Fair Value |  | — |  |  | 176,421 |  |  | 280 |  |  | 341,739 |  |  | 800 |  |  |  |  | 519,240 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | 390,923 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | 14,914 |  |  | $ | — |  |  | $ | 11,262 |  |  | $ | — |  |  |  |  | $ | 26,176 |
12 Months or Longer |  | — |  |  | 161,506 |  |  | — |  |  | 330,190 |  |  | 800 |  |  |  |  | 492,496 |
Total |  | $ | — |  |  | $ | 176,420 |  |  | $ | — |  |  | $ | 341,452 |  |  | $ | 800 |  |  |  |  | $ | 518,672 |
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 |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | 317 |  |  | $ | — |  |  |  |  | $ | 403 |
12 Months or Longer |  | — |  |  | 13,493 |  |  | — |  |  | 56,268 |  |  | 200 |  |  |  |  | 69,961 |
Total |  | $ | — |  |  | $ | 13,579 |  |  | $ | — |  |  | $ | 56,585 |  |  | $ | 200 |  |  |  |  | $ | 70,364 |
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 |  |  |  | 176,421 |  |  |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Amortized Cost |  |  |  |  |  | $ | 280 |  |  |  |  |  |  |  |  |
Local Municipal Obligations, at Fair Value |  |  |  |  |  | 280 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  |  |  | $ | 7,416 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  |  |  | 6,885 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  |  |  | 390,907 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  |  |  | 334,854 |  |  |  |  |  |  |
Corporate Trust Preferred Securities, at Amortized Cost |  |  |  |  |  |  |  |  |  | $ | 1,000 |  |  |  |  |
Corporate Trust Preferred Securities, at Fair Value |  |  |  |  |  |  |  |  |  | 800 |  |  |  |  |
At September 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 September 30, 2024, December 31, 2023 and September 30, 2023:
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  |  |  | Total Held-To Maturity Securities
September 30, 2024 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 96,275 |  |  | $ | 7,062 |  |  |  |  | $ | 103,337 |
Gross Unrealized Losses |  | (1,205) |  |  | (203) |  |  |  |  | (1,408) |
Held-To-Maturity Securities, at Fair Value |  | 95,070 |  |  | 6,859 |  |  |  |  | 101,929 |
Held-To-Maturity Securities, Pledged as Collateral, at Carrying Value |  |  |  |  |  |  |  | 82,532 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  | 81,123 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |
Within One Year |  | $ | 52,575 |  |  | $ | — |  |  |  |  | $ | 52,575 |
From 1 - 5 Years |  | 41,373 |  |  | 7,062 |  |  |  |  | 48,435 |
From 5 - 10 Years |  | 2,321 |  |  | — |  |  |  |  | 2,321 |
Over 10 Years |  | 6 |  |  | — |  |  |  |  | 6 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |
Within One Year |  | $ | 52,224 |  |  | $ | — |  |  |  |  | $ | 52,224 |
From 1 - 5 Years |  | 40,534 |  |  | 6,859 |  |  |  |  | 47,393 |
From 5 - 10 Years |  | 2,306 |  |  | — |  |  |  |  | 2,306 |
Over 10 Years |  | 6 |  |  | — |  |  |  |  | 6 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 175 |  |  | $ | — |  |  |  |  | $ | 175 |
12 Months or Longer |  | 73,705 |  |  | 6,858 |  |  |  |  | 80,563 |
Total |  | $ | 73,880 |  |  | $ | 6,858 |  |  |  |  | $ | 80,738 |
Number of Securities in a Continuous Loss Position |  | 231 |  |  | 16 |  |  |  |  | 247 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
12 Months or Longer |  | 1,205 |  |  | 203 |  |  |  |  | 1,408 |
Total |  | $ | 1,205 |  |  | $ | 203 |  |  |  |  | $ | 1,408 |
Disaggregated Details: |  |  |  |  |  |  |  |
Municipal Obligations, at Amortized Cost |  | $ | 96,275 |  |  |  |  |  |  |
Municipal Obligations, at Fair Value |  | 95,070 |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 2,526 |  |  |  |  |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  |  |  | Total Held-To Maturity Securities
US Government Agency Securities, at Fair Value |  |  |  | 2,445 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 4,536 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 4,414 |  |  |  |  |
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
September 30, 2023 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 131,017 |  |  | $ | 9,560 |  |  |  |  | $ | 140,577 |
Gross Unrealized Gains |  | — |  |  | — |  |  |  |  | — |
Gross Unrealized Losses |  | (5,204) |  |  | (562) |  |  |  |  | (5,766) |
Held-To-Maturity Securities, at Fair Value |  | 125,813 |  |  | 8,998 |  |  |  |  | 134,811 |
Held-To-Maturity Securities, Pledged as Collateral, at Carrying Value |  |  |  |  |  |  |  | 117,723 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  | 111,957 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 1,575 |  |  | $ | — |  |  |  |  | $ | 1,575 |
12 Months or Longer |  | 108,092 |  |  | 8,998 |  |  |  |  | 117,090 |
Total |  | $ | 109,667 |  |  | $ | 8,998 |  |  |  |  | $ | 118,665 |
Number of Securities in a Continuous Loss Position |  | 339 |  |  | 16 |  |  |  |  | 355 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 86 |  |  | $ | — |  |  |  |  | $ | 86 |
12 Months or Longer |  | 5,118 |  |  | 562 |  |  |  |  | 5,680 |
Total |  | $ | 5,204 |  |  | $ | 562 |  |  |  |  | $ | 5,766 |
Disaggregated Details: |  |  |  |  |  |  |  |
Municipal Obligations, at Amortized Cost |  | $ | 131,017 |  |  |  |  |  |  |
Municipal Obligations, at Fair Value |  | 125,813 |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,292 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 3,075 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 6,268 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 5,923 |  |  |  |  |
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 September 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 September 30, 2024 and there was no credit loss expense recognized by Arrow with respect to the securities portfolio during the three months ended September 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 September 30, 2024. The following table is the schedule of Equity Securities at September 30, 2024, December 31, 2023 and September 30, 2023:
Equity Securities
|  | September 30, 2024 | December 31, 2023 | September 30, 2023
Equity Securities, at Fair Value |  | $5,089 | $1,925 | $1,960
The following is a summary of realized and unrealized gains and losses recognized in income on equity securities during the three and nine month periods ended September 30, 2024 and 2023:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2024 |  |  |  | 2023 |  | 2024 |  | 2023 |  |
Net Gain (Loss) on Equity Securities | $ | 94 |  |  |  |  | $ | 71 |  |  | $ | 165 |  |  | $ | (214) |  |  |
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 | $ | 94 |  |  |  |  | $ | 71 |  |  | $ | 165 |  |  | $ | (214) |  |  |

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