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Securities (Tables) | 9 Months Ended
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Sep. 30, 2023
Securities [Abstract] |
Summary of Disaggregated Net Income on Equity Securities |
|  | For the three months ended September 30, |  | For the nine months ended September 30,
(In Thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Net losses recognized during the period on equity securities held at the reporting date |  | $ | (436) |  | $ | (559) |  | $ | (4,157) |  | $ | (5,487)
Net losses recognized during the period on equity securities sold during the period |  |  | (58) |  |  | - |  |  | (233) |  |  | (59)
Realized and unrealized losses on equity investments during the reporting period |  | $ | (494) |  | $ | (559) |  | $ | (4,390) |  | $ | (5,546)
Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale |
| September 30, 2023
|  |  |  | Gross |  | Gross |  |
| Amortized |  | Unrealized |  | Unrealized |  |  |
| Cost |  | Gains |  | Losses |  | Fair Value
| (In Thousands)
Residential Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years | $ | 708 |  | $ | - |  | $ | 41 |  | $ | 667
More than five to ten years |  | 4,388 |  |  | - |  |  | 381 |  |  | 4,007
More than ten years |  | 33,604 |  |  | - |  |  | 4,613 |  |  | 28,991
Sub-total: |  | 38,700 |  |  | - |  |  | 5,035 |  |  | 33,665
Corporate Debt securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years |  | 6,000 |  |  | - |  |  | 115 |  |  | 5,885
More than five to ten years |  | 53,564 |  |  | - |  |  | 6,942 |  |  | 46,622
Sub-total: |  | 59,564 |  |  | - |  |  | 7,057 |  |  | 52,507
Total securities | $ | 98,264 |  | $ | - |  | $ | 12,092 |  | $ | 86,172
| 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
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, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage-backed securities | $ | 11,987 |  | $ | 489 |  | $ | 21,677 |  | $ | 4,546 |  | $ | 33,664 |  | $ | 5,035
Corporate Debt securities |  | 22,980 |  |  | 2,506 |  |  | 28,228 |  |  | 4,551 |  |  | 51,208 |  |  | 7,057
| $ | 34,967 |  | $ | 2,995 |  | $ | 49,905 |  | $ | 9,097 |  | $ | 84,872 |  | $ | 12,092
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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