Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities

The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:



	As of March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	23,089	$	143	$	(15	)	$	23,217
Municipal securities	4,862		116		—			4,978
Residential mortgage-backed securities - government issued	13,267		667		—			13,934
Residential mortgage-backed securities - government-sponsored enterprises	108,507		3,633		—			112,140
Commercial mortgage-backed securities - government issued	6,411		85		(30		)	6,466
Commercial mortgage-backed securities - government-sponsored enterprises	11,904		674		—			12,578
Other securities	2,205		46		—			2,251
	$	170,245	$	5,364	$	(45	)	$	175,564



	As of December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	23,616	$	152	$	(10	)	$	23,758
Municipal securities	160		—		—			160
Residential mortgage-backed securities - government issued	16,119		234		(5		)	16,348
Residential mortgage-backed securities - government-sponsored enterprises	111,561		847		(406		)	112,002
Commercial mortgage-backed securities - government issued	6,705		45		(87		)	6,663
Commercial mortgage-backed securities - government-sponsored enterprises	11,953		23		(9		)	11,967
Other securities	2,205		30		—			2,235
	$	172,319	$	1,331	$	(517	)	$	173,133

Schedule of Held-to-maturity Securities

The amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses were as follows:



	As of March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	18,800	$	299	$	(36	)	$	19,063
Residential mortgage-backed securities - government issued	5,336		151		—			5,487
Residential mortgage-backed securities - government-sponsored enterprises	4,624		151		—			4,775
Commercial mortgage-backed securities - government-sponsored enterprises	2,014		273		—			2,287
	$	30,774	$	874	$	(36	)	$	31,612



	As of December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	19,727	$	335	$	(8	)	$	20,054
Residential mortgage-backed securities - government issued	5,776		19		(9		)	5,786
Residential mortgage-backed securities - government-sponsored enterprises	5,183		51		(23		)	5,211
Commercial mortgage-backed securities - government-sponsored enterprises	2,014		123		—			2,137
	$	32,700	$	528	$	(40	)	$	33,188

Investments Classified by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at March 31, 2020 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.



	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In Thousands)
Due in one year or less	$	1,160	$	1,167	$	1,465	$	1,471
Due in one year through five years	7,264		7,459		12,613		12,750
Due in five through ten years	33,217		34,677		12,654		13,198
Due in over ten years	128,604		132,261		4,042		4,193
	$	170,245	$	175,564	$	30,774	$	31,612

Schedule of Unrealized Loss on Investments

A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:



	As of March 31, 2020
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	4,318	$	15	$	—	$	—	$	4,318	$	15
Commercial mortgage-backed securities - government issued	—		—		3,962		30		3,962		30
	$	4,318	$	15	$	3,962	$	30	$	8,280	$	45



	As of December 31, 2019
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	4,363	$	10	$	—	$	—	$	4,363	$	10
Residential mortgage-backed securities - government issued	4,619		5		—		—		4,619		5
Residential mortgage-backed securities - government-sponsored enterprises	36,972		253		11,304		153		48,276		406
Commercial mortgage-backed securities - government issued	—		—		4,727		87		4,727		87
Commercial mortgage-backed securities - government-sponsored enterprises	2,245		4		1,047		5		3,292		9
	$	48,199	$	272	$	17,078	$	245	$	65,277	$	517

A summary of unrealized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:



	As of March 31, 2020
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$	470	$	36	$	—	$	—	$	470	$	36



	As of December 31, 2019
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$	499	$	8	$	—	$	—	$	499	$	8
Residential mortgage-backed securities - government issued	—		—		1,887		9		1,887		9
Residential mortgage-backed securities - government-sponsored enterprises	1,364		5		2,144		18		3,508		23
	$	1,863	$	13	$	4,031	$	27	$	5,894	$	40