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Debt Securities (Tables)

6 Months Ended

Jun. 30, 2023

Debt Securities [Abstract]

Summary of Amortized Cost and Fair Value of Securities Available-for-Sale

The following table summarizes the amortized cost, allowance for credit losses, and fair value of debt securities available-for-sale at June 30, 2023 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

	Amortized			Gross			Gross				Allowance
	Cost			Unrealized			Unrealized				for Credit		Fair
(In thousands)	Basis			Gains			Losses				Losses		Value
June 30, 2023
State and municipal securities	$	11,840		$	2		$	646		$	—		$	11,196
Asset-backed securities		6,945			—			825			—			6,120
Government mortgage-backed securities		11,328			—			988			—			10,340
Total debt securities available-for-sale	$	30,113		$	2		$	2,459		$	—		$	27,656

The following table summarizes the amortized cost and fair value of securities available-for-sale at December 31, 2022 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

	Amortized			Gross			Gross
	Cost			Unrealized			Unrealized			Fair
(In thousands)	Basis			Gains			Losses			Value
December 31, 2022
State and municipal securities	$	11,894		$	2		$	825		$	11,071
Asset-backed securities		7,197			—			923			6,274
Government mortgage-backed securities		12,366			—			1,111			11,255
Total debt securities available-for-sale	$	31,457		$	2		$	2,859		$	28,600

Schedule of Maturities of Debt Securities

	Available-for-Sale
	Amortized			Fair
(In thousands)	Cost			Value
Due after one year through five years	$	863		$	844
Due after five years through ten years		1,468			1,464
Due after ten years		9,509			8,888
Government mortgage-backed securities		11,328			10,340
Asset-backed securities		6,945			6,120
	$	30,113		$	27,656

Schedule of Aggregate Fair Value and Unrealized Losses of Securities

	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, 2023
Temporarily impaired securities:
State and municipal securities	$	1,978		$	14		$	7,785		$	632		$	9,763		$	646
Asset-backed securities		—			—			6,120			825			6,120			825
Government mortgage-backed securities		—			—			10,340			988			10,340			988
Total temporarily impaired debt securities	$	1,978		$	14		$	24,245		$	2,445		$	26,223		$	2,459
December 31, 2022
Temporarily impaired securities:
State and municipal	$	8,174		$	183		$	2,297		$	642		$	10,471		$	825
Asset-backed securities		2,322			182			3,951			741			6,273			923
Government mortgage-backed securities		7,428			474			3,827			637			11,255			1,111
Total temporarily impaired debt securities	$	17,924		$	839		$	10,075		$	2,020		$	27,999		$	2,859

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

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- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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