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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of amortized cost and estimated fair value
The following summarizes the amortized cost and fair value of securities
available-for-sale
at September 30, 2023 and December 31, 2022 with gross unrealized gains and losses therein:
 
    
September 30, 2023
  
    
Amortized
Cost
     
Gross
Unrealized
Gains
     
Gross
Unrealized
Losses
     
Fair Value
  
                             
Available-for-sale
    (In thousands)  
Mortgage-backed securities—U.S. government sponsored enterprises (GSEs)
    $ 47,917      $ 1      $ (7,875 )     $ 40,043  
U.S. government agency securities
      6,260        —          (1,356 )       4,904  
Obligations of state and political subdivisions
      44,063        —          (6,436 )       37,627  
Small business association (SBA) securities
      2,817        2        (1 )       2,818  
Subordinated debentures
      453        —          —          453  
Small business investment company securities
      2,799        —          (580 )       2,219  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 104,309      $ 3      $ (16,248 )     $ 88,064  
  
 
 
     
 
 
     
 
 
     
 
 
  
    
December 31, 2022
  
    
Amortized
Cost
     
Gross
Unrealized
Gains
     
Gross
Unrealized
Losses
     
Fair Value
  
                             
Available-for-sale
    (In thousands)  
Mortgage-backed securities—U.S. government sponsored enterprises (GSEs)
    $ 41,515      $ 2      $ (6,602 )     $ 34,915  
U.S. government agency securities
      6,260        —          (1,175 )       5,085  
Obligations of state and political subdivisions
      45,161        8        (3,828 )       41,341  
Small business investment company securities
      2,061        —          —          2,061  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 94,997      $ 10      $ (11,605 )     $ 83,402  
  
 
 
     
 
 
     
 
 
     
 
 
  
Summary of fair value of related securities available-for-sale
The unrealized losses, categorized by the length of time of continuous loss position, and the fair value of related securities
available-for-sale
at September 30, 2023 and December 31, 2022 are as follows:
 
    
Less than 12 Months
    
More than 12 Months
    
Total
  
    
Fair
Value
     
Unrealized
Losses
    
Fair
Value
     
Unrealized
Losses
    
Fair
Value
     
Unrealized
Losses
  
                                         
September 30, 2023
    (In thousands)  
Mortgage-backed securities—U.S. government sponsored enterprises (GSEs)
    $ 4,695      $ (180 )    $ 30,434      $ (7,695 )    $ 35,129      $ (7,875 ) 
U.S. government agency securities
      —          —         4,904        (1,356 )      4,904        (1,356 ) 
Obligations of state and political subdivisions
      7,757        (473 )      28,401        (5,963 )      36,158        (6,436 ) 
Small business association (SBA) securities
      778        (1 )      —          —         778        (1 ) 
Small business investment company securities
      —          —         2,219        (580 )      2,219        (580 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
Total
    $ 13,230      $ (654 )    $ 65,958      $ (15,594 )    $ 79,188      $ (16,248 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
    
Less than 12 Months
    
More than 12 Months
    
Total
  
    
Fair
Value
     
Unrealized
Losses
    
Fair
Value
     
Unrealized
Losses
    
Fair
Value
     
Unrealized
Losses
  
                                         
December 31, 2022
    (In thousands)  
Mortgage-backed securities—U.S. government sponsored enterprises (GSEs)
    $ 15,605      $ (1,778 )    $ 19,137      $ (4,824 )    $ 34,742      $ (6,602 ) 
U.S. government agency securities
      —          —         5,085        (1,175 )      5,085        (1,175 ) 
Obligations of state and political subdivisions
      36,421        (3,457 )      1,352        (371 )      37,773        (3,828 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
   $ 52,026      $ (5,235 )    $ 25,574      $ (6,370 )    $ 77,600      $ (11,605 ) 
  
 
 
     
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
Summary of securities available-for-sale by contractual maturity
The amortized cost and fair value of securities
available-for-sale
at September 30, 2023 by contractual maturity are shown below. Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties:
 
    
Amortized
Cost
     
Fair
Value
  
               
     (In thousands)  
Due in one year or less
    $ —        $ —    
Due after one year through five years
      7,951        7,607  
Due after five years through ten years
      25,038        21,381  
Due after ten years
      17,787        13,996  
Mortgage-backed securities (GSEs)
      47,917        40,043  
Small business association (SBA) securities
      2,817        2,818  
SBIC securities
      2,799        2,219  
  
 
 
     
 
 
  
   $ 104,309      $ 88,064