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Securities (Tables)

9 Months Ended

Sep. 30, 2022

Securities [Abstract]

Summary of Disaggregated Net Losses on Equity Securities

		For the three months ended September 30,						For the nine months ended September 30,
(In Thousands)		2022			2021			2022			2021
Net (losses) gains recognized during the period on equity securities held at the reporting date		$	(559)		$	(307)		$	(5,487)		$	(4)
Net losses recognized during the period on equity securities sold during the period			-			-			(59)			-
Realized and unrealized losses on equity investments during the reporting period		$	(559)		$	(307)		$	(5,546)		$	(4)

Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale

	September 30, 2022
				Gross			Gross
	Amortized			Unrealized			Unrealized
	Cost			Gains			Losses			Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
Less than one year	$	-		$	-		$	-		$	-
More than one to five years		-			-			-			-
More than five to ten years		5,754			-			401			5,353
More than ten years		23,708			-			3,620			20,088
Sub-total:		29,462			-			4,021			25,441
Corporate Debt securities:
More than five to ten years		66,499			-			3,199			63,300
Sub-total:		66,499			-			3,199			63,300
Municipal obligations:
More than ten years		4,025			-			15			4,010
Sub-total:		4,025			-			15			4,010
Total securities	$	99,986		$	-		$	7,235		$	92,751

	December 31, 2021
				Gross			Gross
	Amortized			Unrealized			Unrealized
	Cost			Gains			Losses			Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
Due within one year	$	2,952		$	-		$	114		$	2,838
More than one to five years		53			-			-			53
More than five to ten years		6,317			165			27			6,455
More than ten years		21,555			298			287			21,566
Sub-total:		30,877			463			428			30,912
Corporate Debt securities:
More than five to ten years		47,765			2,465			159			50,071
Sub-total:		47,765			2,465			159			50,071
Municipal obligations:
Due after ten years		4,104			99			-			4,203
Sub-total:		4,104			99			-			4,203
Total Debt Securities Available	$	82,746		$	3,027		$	587		$	85,186

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

	12 Months or Less						More than 12 Months						Total
	Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
	Value			Losses			Value			Losses			Value			Losses
	(In Thousands)
September 30, 2022
Residential mortgage-backed securities	$	19,430		$	2,441		$	6,012		$	1,580		$	25,442		$	4,021
Corporate Debt securities		56,521			3,079			5,978			120			62,499			3,199
Municipal bond		4,010			15									4,010			15
	$	79,961		$	5,535		$	11,990		$	1,700		$	91,951		$	7,235
December 31, 2021
Residential mortgage-backed securities	$	7,801		$	159		$	4,681		$	269		$	12,482		$	428
Corporate Debt Securities		12,324			159			-			-			12,324			159
	$	20,125		$	318		$	4,681		$	269		$	24,806		$	587

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

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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.

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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