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Investment Securities | 6 Months Ended
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Jun. 30, 2022
Investment Securities [Abstract] |
Investment Securities | (4) Investment Securities The following summarizes the amortized cost of investment securities classified as available-for-sale and their approximate fair values at June 30, 2022 and December 31, 2021:
| Amortized |  | Gross |  | Gross |  |
| Cost |  | Unrealized |  | Unrealized |  | Fair
(In thousands) | Basis |  | Gains |  | Losses |  | Value
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |
State and municipal securities | $ | 11,948 |  | $ | 12 |  | $ | 621 |  | $ | 11,339
Asset-backed securities |  | 7,603 |  |  | — |  |  | 674 |  |  | 6,929
Government mortgage-backed securities |  | 13,766 |  |  | — |  |  | 866 |  |  | 12,900
Total debt securities available-for-sale | $ | 33,317 |  | $ | 12 |  | $ | 2,161 |  | $ | 31,168
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
State and municipal securities | $ | 12,002 |  | $ | 625 |  | $ | 36 |  | $ | 12,591
Asset-backed securities |  | 8,141 |  |  | 118 |  |  | 4 |  |  | 8,255
Government mortgage-backed securities |  | 15,842 |  |  | 208 |  |  | 59 |  |  | 15,991
Total debt securities available-for-sale | $ | 35,985 |  | $ | 951 |  | $ | 99 |  | $ | 36,837
The scheduled maturities of debt securities at June 30, 2022 are summarized in the table below. Actual maturities of asset and mortgage-backed securities may differ from contractual maturities because the assets and mortgages underlying the securities may be repaid without any penalties. Because asset- and mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary.
| Available-for-Sale
| Amortized |  | Fair
(In thousands) | Cost |  | Value
Due after one year through five years | $ | 576 |  | $ | 569
Due after five years through ten years |  | 1,171 |  |  | 1,173
Due after ten years |  | 10,201 |  |  | 9,597
Government mortgage-backed securities |  | 13,766 |  |  | 12,900
Asset-backed securities |  | 7,603 |  |  | 6,929
| $ | 33,317 |  | $ | 31,168
There were no realized gains or losses on sales and calls during the six months ended June 30, 2022 or June 30, 2021. Securities with carrying amounts of $11.5 million and $14.4 million were pledged to secure available borrowings with the Federal Home Loan Bank at June 30, 2022 and December 31, 2021, respectively. Other-than-temporary impairment assessment: Management assesses whether the decline in fair value of investment securities is other-than-temporary on a regular basis. Unrealized losses on debt securities may occur from current market conditions, increases in interest rates since the time of purchase, a structural change in an investment, volatility of earnings of a specific issuer, or deterioration in credit quality of the issuer. Management evaluates impairments in value both qualitatively and quantitatively to assess whether they are other-than-temporary. The aggregate fair value and unrealized losses of securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or longer are as follows at June 30, 2022 and December 31, 2021:
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(In thousands) | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporarily impaired securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal | $ | 8,722 |  | $ | 621 |  | $ | — |  | $ | — |  | $ | 8,722 |  | $ | 621
Asset-backed securities |  | 6,930 |  |  | 674 |  |  | — |  |  | — |  |  | 6,930 |  |  | 674
Government mortgage-backed securities |  | 12,815 |  |  | 856 |  |  | 85 |  |  | 10 |  |  | 12,900 |  |  | 866
Total temporarily impaired debt securities | $ | 28,467 |  | $ | 2,151 |  | $ | 85 |  | $ | 10 |  | $ | 28,552 |  | $ | 2,161
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Temporarily impaired securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal | $ | 2,950 |  | $ | 36 |  | $ | — |  | $ | — |  | $ | 2,950 |  | $ | 36
Asset-backed securities |  | 4,797 |  |  | 4 |  |  | — |  |  | — |  |  | 4,797 |  |  | 4
Government mortgage-backed securities |  | 5,022 |  |  | 54 |  |  | 113 |  |  | 5 |  |  | 5,135 |  |  | 59
Total temporarily impaired debt securities | $ | 12,769 |  | $ | 94 |  | $ | 113 |  | $ | 5 |  | $ | 12,882 |  | $ | 99
The gross unrealized losses were primarily attributable to changes in interest rates since the time of purchase. Management believes that the unrealized losses on these debt security holdings are a function of changes in investment spreads and interest rate movements and not changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. Furthermore, the Company does not intend to sell these securities and it is not more-likely-than-not that the Company will be required to sell these securities before recovery of their cost basis, which may be maturity. Therefore, management does not consider these investments to be other-than-temporarily impaired June 30, 2022.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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