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INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES INVESTMENT SECURITIES
Fair value of equity securities with readily determinable fair values at December 31 are as follows:
(In thousands)Fair Value at January 1PurchasesSales/reclassification(Losses)/GainsLosses on sales of securitiesFair Value at December 31
2024
CRA Mutual Fund$928 $— $— $(9)$— $919 
2023
CRA Mutual Fund$915 $— $— $13 $— $928 
Canapi Ventures SBIC Fund206 — 206 — — — 
Stock in other banks598 — 592 5 (11)— 
Total$1,719 $— $798 $18 $(11)$928 
2022
CRA Mutual Fund$1,036 $— $— $(121)$— $915 
Canapi Ventures SBIC Fund— 206 — — — 206 
Stock in other banks1,573 — 811 (177)13 598 
Total$2,609 $206 $811 $(298)$13 $1,719 
Amortized cost and fair value of investment securities were as follows:
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2024    
Available for Sale    
U.S. Government and agencies$159,799 $— $16,606 $143,193 
Collateralized mortgage obligations39,540 — 3,886 35,654 
Residential mortgage-backed securities159,349 2 20,811 138,540 
Commercial mortgage-backed securities65,350 — 4,565 60,785 
Corporate bonds17,600 — 1,797 15,803 
Total$441,638 $2 $47,665 $393,975 
Held to Maturity
State and municipal$62,838 $— $7,586 $55,252 
Residential mortgage-backed securities1,740 — 68 1,672 
Total$64,578 $— $7,654 $56,924 
December 31, 2023
Available for Sale
U.S. Government and agencies$176,458 $— $19,663 $156,795 
Collateralized mortgage obligations45,189 — 4,105 41,084 
Residential mortgage-backed securities178,441 19 19,630 158,830 
Commercial mortgage-backed securities69,498 344 4,552 65,290 
Corporate bonds32,326 202 2,834 29,694 
Total$501,912 $565 $50,784 $451,693 
Held to Maturity    
State and municipal$62,133 $— $5,419 $56,714 
Residential mortgage-backed securities2,467 — 124 2,343 
Total$64,600 $— $5,543 $59,057 
The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2024 and 2023:
 Less than 12 Months12 Months or MoreTotal
(In thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
December 31, 2024      
Available for Sale      
U.S. Government and agencies$— $— $143,193 $16,606 $143,193 $16,606 
Collateralized mortgage obligations— — 35,654 3,886 35,654 3,886 
Residential mortgage-backed securities2,692 26 135,626 20,785 138,318 20,811 
Commercial mortgage-backed securities31,860 73 28,925 4,492 60,785 4,565 
Corporate bonds— — 15,803 1,797 15,803 1,797 
Total$34,552 $99 $359,201 $47,566 $393,753 $47,665 
Held to Maturity
State and municipal$— $— $55,252 $7,586 $55,252 $7,586 
Residential mortgage-backed securities— — 1,672 68 1,672 68 
Total$— $— $56,924 $7,654 $56,924 $7,654 
December 31, 2023      
Available for Sale
U.S. Government and agencies$— $— $156,795 $19,663 $156,795 $19,663 
Collateralized mortgage obligations— — 41,085 4,104 41,085 4,104 
Residential mortgage-backed securities— — 156,295 19,630 156,295 19,630 
Commercial mortgage-backed securities— — 33,063 4,553 33,063 4,553 
Corporate bonds— — 15,279 2,834 15,279 2,834 
Total$— $— $402,517 $50,784 $402,517 $50,784 
Held to Maturity
State and municipal$— $— $56,714 $5,419 $56,714 $5,419 
Residential mortgage-backed securities— — 2,343 124 2,343 124 
Total$— $— $59,057 $5,543 $59,057 $5,543 
All mortgage-backed securities, and those of a similar asset class, are government-sponsored enterprise pass-through instruments issued by the Federal National Mortgage Association or Federal Home Loan Mortgage Corporation or they are issued by the Government National Mortgage Association which is backed by the U.S. government which guarantees the timely payment of principal on these investments.
The Company evaluates AFS debt securities for impairment in unrealized loss positions at each measurement date to determine whether the decline in the fair value below the amortized cost basis is due to credit-related factors or noncredit-related factors. There was no impairment on AFS debt securities as of December 31, 2024 and 2023. The Company evaluates HTM debt securities for expected credit losses at each measurement date to determine if an ACL is required. The Corporation did not have an ACL for HTM investment securities as of December 31, 2024 and 2023. In estimating credit events, management considers whether it intends to sell the security or if it is more likely than not that it will be required to sell the security before anticipated recovery or if it does not expect to recover the entire amortized cost basis.
Amortized cost and fair value at December 31, 2024, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.
 Available for SaleHeld to Maturity
(In thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
1 year or less$18,009 $17,592 $— $— 
Over 1 year through 5 years102,083 93,188 4,188 3,735 
Over 5 years through 10 years55,307 46,670 27,266 25,927 
Over 10 years2,000 1,546 31,384 25,590 
Mortgage-backed securities264,239 234,979 1,740 1,672 
$441,638 $393,975 $64,578 $56,924 
The proceeds from sales and calls of securities and the associated gains and losses are listed below:
Years Ended December 31,
(In thousands)202420232022
Proceeds from sales$14,336 $125,241 $4,994 
Proceeds from calls1,984 — — 
Gross gains87 230 14 
Gross losses18 5,470 248 
At December 31, 2024 and 2023, securities with a carrying value of $157.3 million and $233.7 million, respectively, were pledged as collateral as required by law on public and trust deposits, repurchase agreements, and for other purposes.