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Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses | The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:
|  | (In Thousands) |
|  | 2024 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 111,397 |  |  | $ | 17 |  |  | $ | (5,415 | ) |  | $ | 105,999 |
U.S. Government agencies |  |  | 144,660 |  |  |  | - |  |  |  | (9,494 | ) |  |  | 135,166 |
Mortgage-backed securities |  |  | 133,268 |  |  |  | 17 |  |  |  | (12,654 | ) |  |  | 120,631 |
State and local governments |  |  | 69,159 |  |  |  | 28 |  |  |  | (4,427 | ) |  |  | 64,760 |
Total available-for-sale securities |  | $ | 458,484 |  |  | $ | 62 |  |  | $ | (31,990 | ) |  | $ | 426,556 |
|  | (In Thousands) |
|  | 2023 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 87,182 |  |  | $ | 1 |  |  | $ | (6,913 | ) |  | $ | 80,270 |
U.S. Government agencies |  |  | 140,960 |  |  |  | - |  |  |  | (12,738 | ) |  |  | 128,222 |
Mortgage-backed securities |  |  | 94,061 |  |  |  | - |  |  |  | (11,929 | ) |  |  | 82,132 |
State and local governments |  |  | 73,000 |  |  |  | 135 |  |  |  | (5,281 | ) |  |  | 67,854 |
Total available-for-sale securities |  | $ | 395,203 |  |  | $ | 136 |  |  | $ | (36,861 | ) |  | $ | 358,478 |
Gross Unrealized Losses, Aggregated by Investment Category and Length of Time | Information pertaining to securities with gross unrealized losses at December 31, 2024 and 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:
|  | 2024 |
|  | (In Thousands) |  |  | (In Thousands) |
|  | Less Than Twelve Months |  |  | Twelve Months & Over |
|  | Gross |  |  |  |  |  | Gross |  |  |  |
|  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |
|  | Losses |  |  | Value |  |  | Losses |  |  | Value |
U.S. Treasury |  | $ | (467 | ) |  | $ | 31,533 |  |  | $ | (4,948 | ) |  | $ | 62,151 |
U.S. Government agencies |  |  | - |  |  |  | - |  |  |  | (9,494 | ) |  |  | 131,335 |
Mortgage-backed securities |  |  | (668 | ) |  |  | 51,236 |  |  |  | (11,986 | ) |  |  | 66,877 |
State and local governments |  |  | (224 | ) |  |  | 8,631 |  |  |  | (4,203 | ) |  |  | 53,091 |
Total available-for-sales securities |  | $ | (1,359 | ) |  | $ | 91,400 |  |  | $ | (30,631 | ) |  | $ | 313,454 |
|  | 2023 |
|  | (In Thousands) |  |  | (In Thousands) |
|  | Less Than Twelve Months |  |  | Twelve Months & Over |
|  | Gross |  |  |  |  |  | Gross |  |  |  |
|  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |
|  | Losses |  |  | Value |  |  | Losses |  |  | Value |
U.S. Treasury |  | $ | (4 | ) |  | $ | 494 |  |  | $ | (6,909 | ) |  | $ | 79,528 |
U.S. Government agencies |  |  | - |  |  |  | - |  |  |  | (12,738 | ) |  |  | 128,222 |
Mortgage-backed securities |  |  | (20 | ) |  |  | 4,372 |  |  |  | (11,909 | ) |  |  | 77,759 |
State and local governments |  |  | (2 | ) |  |  | 931 |  |  |  | (5,279 | ) |  |  | 60,402 |
Total available-for-sales securities |  | $ | (26 | ) |  | $ | 5,797 |  |  | $ | (36,835 | ) |  | $ | 345,911 |
Gross Realized Losses | gross realized losses for the year ended December 31, 2023 as presented below:
|  | (In Thousands) |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Gross realized gains |  | $ | - |  |  | $ | - |  |  | $ | - |
Gross realized losses |  |  | - |  |  |  | (891 | ) |  |  | - |
Net realized losses |  | $ | - |  |  | $ | (891 | ) |  | $ | - |
Tax benefit related to net realized losses |  | $ | - |  |  | $ | (187 | ) |  | $ | - |
Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity | The amortized cost and fair value of debt securities at December 31, 2024, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | (In Thousands) |
|  | Amortized |  |  |  |
|  | Cost |  |  | Fair Value |
One year or less |  | $ | 50,842 |  |  | $ | 50,047 |
After one year through five years |  |  | 256,807 |  |  |  | 239,570 |
After five years through ten years |  |  | 17,057 |  |  |  | 15,811 |
After ten years |  |  | 510 |  |  |  | 497 |
Total |  | $ | 325,216 |  |  | $ | 305,925 |
Mortgage-backed securities |  |  | 133,268 |  |  |  | 120,631 |
Total |  | $ | 458,484 |  |  | $ | 426,556 |

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