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Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Investment Securities Available for Sale | The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale are summarized as follows:
|  | March 31, 2022 |
(In Thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration loan pools |  | $ | 1,020 |  |  | $ | - |  |  | $ | (17 | ) |  | $ | 1,003 |
Obligations of state and political subdivisions |  |  | 44,827 |  |  |  | 397 |  |  |  | (1,332 | ) |  |  | 43,892 |
Mortgage-backed securities in government-sponsored entities |  |  | 50,283 |  |  |  | 12 |  |  |  | (1,988 | ) |  |  | 48,307 |
|  | $ | 96,130 |  |  | $ | 409 |  |  | $ | (3,337 | ) |  | $ | 93,202 |
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debentures |  | $ | 5,000 |  |  | $ | - |  |  | $ | (19 | ) |  | $ | 4,981 |
|  | December 31, 2021 |
(In Thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration loan pools |  | $ | 1,099 |  |  | $ | - |  |  | $ | (15 | ) |  | $ | 1,084 |
Obligations of state and political subdivisions |  |  | 46,115 |  |  |  | 2,405 |  |  |  | (38 | ) |  |  | 48,482 |
Mortgage-backed securities in government-sponsored entities |  |  | 54,239 |  |  |  | 382 |  |  |  | (404 | ) |  |  | 54,217 |
|  | $ | 101,453 |  |  | $ | 2,787 |  |  | $ | (457 | ) |  | $ | 103,783 |
Summary of Gross Unrealized Losses and Fair Value | The following tables show the Company's gross unrealized losses and fair value, aggregated by investment category and length of time the individual debt securities have been in a continuous unrealized loss position.
|  | March 31, 2022 |
|  | Less Than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
(In Thousands) |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration loan pools |  | $ | - |  |  | $ | - |  |  | $ | 1,003 |  |  | $ | (17 | ) |  | $ | 1,003 |  |  | $ | (17 | )
Obligations of state and political subdivisions |  |  | 20,484 |  |  |  | (1,242 | ) |  |  | 343 |  |  |  | (90 | ) |  |  | 20,827 |  |  |  | (1,332 | )
Mortgage-backed securities in government-sponsored entities |  |  | 39,310 |  |  |  | (1,518 | ) |  |  | 7,136 |  |  |  | (470 | ) |  |  | 46,446 |  |  |  | (1,988 | )
|  | $ | 59,794 |  |  | $ | (2,760 | ) |  | $ | 8,482 |  |  | $ | (577 | ) |  | $ | 68,276 |  |  | $ | (3,337 | )
Held to Maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debentures |  | $ | 1,981 |  |  | $ | (19 | ) |  | $ | - |  |  | $ | - |  |  | $ | 1,981 |  |  | $ | (19 | )
|  | December 31, 2021 |
|  | Less Than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
(In Thousands) |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |  |  | Fair Value |  |  | Gross Unrealized Loss |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration loan pools |  | $ | - |  |  | $ | - |  |  | $ | 1,084 |  |  | $ | (15 | ) |  | $ | 1,084 |  |  | $ | (15 | )
Obligations of state and political subdivisions |  |  | 3,189 |  |  |  | (38 | ) |  |  | - |  |  |  | - |  |  |  | 3,189 |  |  |  | (38 | )
Mortgage-backed securities in government-sponsored entities |  |  | 23,420 |  |  |  | (266 | ) |  |  | 4,687 |  |  |  | (102 | ) |  |  | 28,107 |  |  |  | (368 | )
|  | $ | 26,609 |  |  | $ | (304 | ) |  | $ | 5,771 |  |  | $ | (117 | ) |  | $ | 32,380 |  |  | $ | (421 | )
Summary of Amortized Cost and Fair Value by Contractual Maturity | Amortized cost and fair value by contractual maturity, where applicable, are shown below. Actual maturities may differ from contractual maturities because the borrower may have the right to prepay obligations with or without penalty.
|  | Available for Sale Securities |  |  | Held to Maturity Securities |
(In Thousands) |  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due within one year |  | $ | 377 |  |  | $ | 377 |  |  | $ | - |  |  | $ | - |
Due after one year through five years |  |  | 5,423 |  |  |  | 5,429 |  |  |  | - |  |  |  | - |
Due after five years through ten years |  |  | 11,991 |  |  |  | 11,814 |  |  |  | 5,000 |  |  |  | 4,981 |
Due after ten years |  |  | 28,056 |  |  |  | 27,275 |  |  |  | - |  |  |  | - |
Mortgage-backed securities and Collateralized Mortgage Obligations |  |  | 50,283 |  |  |  | 48,307 |  |  |  | - |  |  |  | - |
|  | $ | 96,130 |  |  | $ | 93,202 |  |  | $ | 5,000 |  |  | $ | 4,981 |
Schedule of Realized Gain (Loss) | The following table summarizes sales of debt securities for the three months ended March 31, 2022. There were no sales of debt securities for the three months ended March 31, 2021.
|  | For the Three Months Ended |
(In Thousands) |  | March 31, 2022 |
Proceeds |  | $ |  | 513 |
Gross gains |  |  |  | 13 |
Gross losses |  |  |  | - |
Net gain |  | $ |  | 13 |

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