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Securities (Tables)

3 Months Ended

Mar. 31, 2023

Securities [Abstract]

Summary of Disaggregated Net Losses on Equity Securities

		For the three months ended March 31,
(In Thousands)		2023			2022
Net losses recognized during the period on equity securities held at the reporting period		$	(3,227)		$	(2,626)
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		$	(3,227)		$	(2,685)

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

	March 31, 2023
				Gross			Gross
	Amortized			Unrealized			Unrealized
	Cost			Gains			Losses			Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
More than one to five years	$	446		$	-		$	12		$	434
More than five to ten years		5,280			-			315			4,965
More than ten years		22,234			-			2,879			19,355
Sub-total:		27,960			-			3,206			24,754
Corporate Debt securities:
Less than one year		7,306			-			110			7,196
More than five to ten years		59,596			-			4,558			55,038
Sub-total:		66,902			-			4,668			62,234
Total securities	$	94,862		$	-		$	7,874		$	86,988

	December 31, 2022
				Gross			Gross
	Amortized			Unrealized			Unrealized
	Cost			Gains			Losses			Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
More than five to ten years	$	5,445		$	-		$	350		$	5,095
More than ten years		23,210			-			3,435			19,775
Sub-total:		28,655			-			3,785			24,870
Corporate Debt securities:
Due within one year		7,321						91			7,230
More than five to ten years		59,629			-			4,005			55,624
Sub-total:		66,950			-			4,096			62,854
Municipal obligations:
Due after ten years		3,997			-			6			3,991
Sub-total:		3,997			-			6			3,991
Total Debt Securities Available	$	99,602		$	-		$	7,887		$	91,715

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)
March 31, 2023
Residential mortgage-backed securities	$	3,575		$	164		$	21,179		$	3,042		$	24,754		$	3,206
Corporate Debt securities		44,440			2,851			16,494			1,817			60,934			4,668
	$	48,015		$	3,015		$	37,673		$	4,859		$	85,688		$	7,874
December 31, 2022
Residential mortgage-backed securities	$	17,362		$	2,022		$	7,508		$	1,763		$	24,870		$	3,785
Corporate Debt Securities		51,607			3,199			9,948			897			61,555			4,096
Muni Bond		3,991			6			-			-			3,991			6
	$	72,960		$	5,227		$	17,456		$	2,660		$	90,416		$	7,887

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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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-Publisher FASB
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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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