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Securities | 6 Months Ended
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Jun. 30, 2023
Securities [Abstract] |
Securities | Note 6 - Securities Equity Securities Equity securities are defined to include (a) preferred, common and other ownership interests in entities including partnerships, joint ventures and limited liability companies and (b) rights to acquire or dispose of ownership interest in entities at fixed or determinable prices. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months and six months ended June 30, 2023 and 2022:
|  | For the three months ended June 30, |  | For the six months ended June 30,
(In Thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Net losses recognized during the period on equity securities held at the reporting date |  | $ | (494) |  | $ | (2,302) |  | $ | (3,721) |  | $ | (4,928)
Net losses recognized during the period on equity securities sold during the period |  |  | (175) |  |  | - |  |  | (175) |  |  | (59)
Realized and unrealized losses on equity investments during the reporting period |  | $ | (669) |  | $ | (2,302) |  | $ | (3,896) |  | $ | (4,987)
‎ Note 6 - Securities (continued) Debt Securities Available for Sale The following tables present by maturity the amortized cost, gross unrealized gains and losses on, and fair value of, securities available for sale as of June 30, 2023 and December 31, 2022:
| June 30, 2023
|  |  |  | Gross |  | Gross |  |
| Amortized |  | Unrealized |  | Unrealized |  |  |
| Cost |  | Gains |  | Losses |  | Fair Value
| (In Thousands)
Residential Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years | $ | 405 |  | $ | - |  | $ | 15 |  | $ | 390
More than five to ten years |  | 5,008 |  |  | - |  |  | 364 |  |  | 4,644
More than ten years |  | 27,059 |  |  | - |  |  | 3,430 |  |  | 23,629
Sub-total: |  | 32,472 |  |  | - |  |  | 3,809 |  |  | 28,663
Corporate Debt securities: |  |  |  |  |  |  |  |  |  |  |
Less than one year |  | 7,290 |  |  | - |  |  | 87 |  |  | 7,203
More than five to ten years |  | 59,564 |  |  | - |  |  | 7,782 |  |  | 51,782
Sub-total: |  | 66,854 |  |  | - |  |  | 7,869 |  |  | 58,985
Total Debt Securities Available for Sale | $ | 99,326 |  | $ | - |  | $ | 11,678 |  | $ | 87,648
| 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 for Sale | $ | 99,602 |  | $ | - |  | $ | 7,887 |  | $ | 91,715
‎ Note 6 - Securities (continued) The unrealized losses, categorized by the length of time of continuous loss position, and fair value of related securities available for sale were as follows:
| 12 Months or Less |  | More than 12 Months |  | Total
| Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
| Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
| (In Thousands)
June 30 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 6,746 |  | $ | 318 |  | $ | 21,917 |  | $ | 3,491 |  | $ | 28,663 |  | $ | 3,809
Corporate Debt securities |  | 29,711 |  |  | 3,064 |  |  | 27,974 |  |  | 4,805 |  |  | 57,685 |  |  | 7,869
| $ | 36,457 |  | $ | 3,382 |  | $ | 49,891 |  | $ | 8,296 |  | $ | 86,348 |  | $ | 11,678
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
Municipal Obligations |  | 3,991 |  |  | 6 |  |  | - |  |  | - |  |  | 3,991 |  |  | 6
| $ | 72,960 |  | $ | 5,227 |  | $ | 17,456 |  | $ | 2,660 |  | $ | 90,416 |  | $ | 7,887

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