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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Comparison of Amortized Cost and Fair Value of Securities Available for Sale | Following is a comparison of the amortized cost and approximate fair value of available-for-sale debt securities at December 31, 2024, and December 31, 2023:
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value (Carrying Amount)
December 31, 2024 |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 2,666 |  |  | $ | — |  |  | $ | (22) |  |  | $ | 2,644 |
U.S. Government sponsored entities and agencies collateralized by mortgage obligations |  | 92,121 |  |  | 4 |  |  | (13,244) |  |  | 78,881 |
Municipal bonds |  | 50,082 |  |  | — |  |  | (7,715) |  |  | 42,367 |
Corporate bonds |  | 34,884 |  |  | 34 |  |  | (1,428) |  |  | 33,490 |
Total securities available for sale |  | $ | 179,753 |  |  | $ | 38 |  |  | $ | (22,409) |  |  | $ | 157,382 |
December 31, 2023 |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 6,197 |  |  | $ | 4 |  |  | $ | (45) |  |  | $ | 6,156 |
U.S. Government sponsored entities and agencies collateralized by mortgage obligations |  | 100,487 |  |  | 4 |  |  | (12,307) |  |  | 88,184 |
Municipal bonds |  | 50,382 |  |  | — |  |  | (8,017) |  |  | 42,365 |
Corporate bonds |  | 34,814 |  |  | 24 |  |  | (2,715) |  |  | 32,123 |
U.S. Treasury securities |  | 12,510 |  |  | — |  |  | (72) |  |  | 12,438 |
Total securities available for sale |  | $ | 204,390 |  |  | $ | 32 |  |  | $ | (23,156) |  |  | $ | 181,266 |
Schedule of Contractual Maturities on Collateralized Mortgage Obligations | The amortized cost and fair value of securities available for sale at December 31, 2024, by contractual maturity, are shown below:
|  | December 31, 2024
(In thousands) |  | Amortized Cost |  | Fair Value (Carrying Amount)
Due in one year or less |  | $ | 5,417 |  |  | $ | 5,364 |
Due after one year through five years |  | 30,808 |  |  | 29,307 |
Due after five years through ten years |  | 51,407 |  |  | 43,830 |
Due after ten years |  | 5 |  |  | 5 |
U.S. Government sponsored entities & agencies collateralized by mortgage obligations |  | 92,116 |  |  | 78,876 |
|  | $ | 179,753 |  |  | $ | 157,382 |
Schedule of Available for Sale Debt Securities | The following summarizes available-for-sale debt securities in an unrealized loss position for which a credit loss has not been recorded at December 31, 2024, and 2023:
|  | Less than 12 Months |  | 12 Months or More |  | Total
(In thousands) |  | Fair Value (Carrying Amount) |  | Unrealized Losses |  | Fair Value (Carrying Amount) |  | Unrealized Losses |  | Fair Value (Carrying Amount) |  | Unrealized Losses
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | — |  |  | $ | — |  |  | $ | 2,644 |  |  | $ | (22) |  |  | $ | 2,644 |  |  | $ | (22) |
U.S. Government sponsored entities and agencies collateralized by mortgage obligations |  | 1,640 |  |  | (6) |  |  | 76,686 |  |  | (13,238) |  |  | 78,326 |  |  | (13,244) |
Municipal bonds |  | 2,509 |  |  | (501) |  |  | 39,858 |  |  | (7,214) |  |  | 42,367 |  |  | (7,715) |
Corporate bonds |  | 2,791 |  |  | (28) |  |  | 24,696 |  |  | (1,400) |  |  | 27,487 |  |  | (1,428) |
Total available-for-sale |  | $ | 6,940 |  |  | $ | (535) |  |  | $ | 143,884 |  |  | $ | (21,874) |  |  | $ | 150,824 |  |  | $ | (22,409) |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | — |  |  | $ | — |  |  | $ | 4,064 |  |  | $ | (45) |  |  | $ | 4,064 |  |  | $ | (45) |
U.S. Government sponsored entities and agencies collateralized by mortgage obligations |  | — |  |  | — |  |  | 87,904 |  |  | (12,307) |  |  | 87,904 |  |  | (12,307) |
Municipal bonds |  | — |  |  | — |  |  | 42,365 |  |  | (8,017) |  |  | 42,365 |  |  | (8,017) |
Corporate bonds |  | — |  |  | — |  |  | 27,286 |  |  | (2,715) |  |  | 27,286 |  |  | (2,715) |
U.S. Treasury securities |  | — |  |  | — |  |  | 12,438 |  |  | (72) |  |  | 12,438 |  |  | (72) |
Total available-for-sale |  | $ | — |  |  | $ | — |  |  | $ | 174,057 |  |  | $ | (23,156) |  |  | $ | 174,057 |  |  | $ | (23,156) |
The following summarizes the number of available-for-sale debt securities in an unrealized loss position for which a credit loss has not been recorded at December 31, 2024, and 2023
|  | December 31,
|  | 2024 |  | 2023
Securities available for sale: |  |  |  |
U.S. Government agencies |  | 5 |  |  | 4 |
U.S. Government sponsored entities and agencies collateralized by mortgage obligations |  | 41 |  |  | 46 |
Municipal bonds |  | 46 |  |  | 45
Corporate bonds |  | 8 |  |  | 8 |
U.S. Treasury securities |  | — |  |  | 2 |
Total available-for-sale |  | 100 |  |  | 105 |

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