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Securities (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021
						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
						(In Thousands)
Available-for-sale:
U.S. treasuries						$	4,971					$	—					$	(57)					$	4,914
U.S. government agency securities - government-sponsored enterprises						19,797						248						(110)						19,935
Municipal securities						30,828						473						(344)						30,957
Residential mortgage-backed securities - government issued						19,563						238						(140)						19,661
Residential mortgage-backed securities - government-sponsored enterprises						85,748						741						(784)						85,705
Commercial mortgage-backed securities - government issued						5,801						36						(66)						5,771
Commercial mortgage-backed securities - government-sponsored enterprises						36,786						313						(568)						36,531
Other securities						2,205						23						—						2,228
						$	205,699					$	2,072					$	(2,069)					$	205,702

						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

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, 2021
						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
						(In Thousands)
Held-to-maturity:
Municipal securities						$	13,009					$	222					$	(3)					$	13,228
Residential mortgage-backed securities - government issued						2,226						40						—						2,266
Residential mortgage-backed securities - government-sponsored enterprises						2,502						76						—						2,578
Commercial mortgage-backed securities - government-sponsored enterprises						2,009						195						—						2,204
						$	19,746					$	533					$	(3)					$	20,276

						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

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,
						2021						2020
						(In Thousands)
Gross gains						$	92					$	—
Gross losses						(63)						(4)
Net gains (losses) on sale of available-for-sale securities						$	29					$	(4)
Proceeds from sale of available-for-sale securities						$	14,955					$	839

Investments Classified by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at December 31, 2021 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						$	2,701					$	2,724					$	3,793					$	3,808
Due in one year through five years						11,887						11,937						7,289						7,391
Due in five through ten years						58,270						58,470						7,223						7,576
Due in over ten years						132,841						132,571						1,441						1,501
						$	205,699					$	205,702					$	19,746					$	20,276

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, 2021
						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. treasuries						$	4,914					$	57					$	—					$	—					$	4,914					$	57
U.S. government agency securities - government-sponsored enterprises						978						22						2,412						88						3,390						110
Municipal securities						12,568						344						—						—						12,568						344
Residential mortgage-backed securities - government issued						12,745						140						—						—						12,745						140
Residential mortgage-backed securities - government-sponsored enterprises						41,276						629						4,250						155						45,526						784
Commercial mortgage-backed securities - government issued						2,193						66						—						—						2,193						66
Commercial mortgage-backed securities - government-sponsored enterprises						25,906						568						—						—						25,906						568
						$	100,580					$	1,826					$	6,662					$	243					$	107,242					$	2,069

						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 obligations - 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

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, 2021
						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						$	—					$	—					$	284					$	3					$	284					$	3

						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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=123581744&loc=SL120269825-111563

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