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Securities (Tables)

12 Months Ended

Dec. 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 December 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						$	22,699					$	9					$	(79)					$	22,629
Municipal securities						24,067						716						(4)						24,779
Residential mortgage-backed securities - government issued						9,894						509						—						10,403
Residential mortgage-backed securities - government-sponsored enterprises						102,843						2,212						(49)						105,006
Commercial mortgage-backed securities - government issued						5,289						175						—						5,464
Commercial mortgage-backed securities - government-sponsored enterprises						12,584						781						—						13,365
Other securities						2,205						74						—						2,279
						$	179,581					$	4,476					$	(132)					$	183,925

						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 December 31, 2020
						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
						(In Thousands)
Held-to-maturity:
Municipal securities						$	17,106					$	417					$	(15)					$	17,508
Residential mortgage-backed securities - government issued						3,564						112						—						3,676
Residential mortgage-backed securities - government-sponsored enterprises						3,693						163						—						3,856
Commercial mortgage-backed securities - government-sponsored enterprises						2,011						282						—						2,293
						$	26,374					$	974					$	(15)					$	27,333

						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

Realized gains and losses on sale of securities

Total proceeds and gross realized gains and losses from sales of securities available-for-sale were as follows:

						For the Year Ended December 31,
						2020						2019
						(In Thousands)
Gross gains						$	—					$	58
Gross losses						(4)						(104)
Net losses on sale of available-for-sale securities						$	(4)					$	(46)
Proceeds from sale of available-for-sale securities						$	839					$	22,452

Investments Classified by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at December 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						$	—					$	—					$	2,299					$	2,311
Due in one year through five years						8,869						9,128						12,110						12,353
Due in five through ten years						38,114						39,642						9,423						10,005
Due in over ten years						132,598						135,155						2,542						2,664
						$	179,581					$	183,925					$	26,374					$	27,333

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:

						December 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						$	11,602					$	45					$	4,031					$	34					$	15,633					$	79
Municipal securities						2,863						4						—						—						2,863						4
Residential mortgage-backed securities - government-sponsored enterprises						19,078						49						—						—						19,078						49
						$	33,543					$	98					$	4,031					$	34					$	37,574					$	132

						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 obligations - 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:

						December 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						$	276					$	13					$	213					$	2					$	489					$	15

						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

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269825-111563

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-Name Accounting Standards Codification
-Topic 320
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269820-111563

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-Name Accounting Standards Codification
-Topic 320
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-Section 50
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