XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Securities | 3 Months Ended
--- | ---
Mar. 31, 2024
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 ended March 31, 2024, 2023 and 2022:
|  | For the three months ended March 31,
(In Thousands) |  | 2024 |  | 2023 |  | 2022
Net gains (losses) recognized during the period on equity securities held at the reporting period |  | $ | 130 |  | $ | (3,227) |  | $ | (2,626)
Net gains (losses) recognized during the period on equity securities sold during the period |  |  | - |  |  | - |  |  | (59)
Realized and unrealized gains (losses) on equity investments during the reporting period |  | $ | 130 |  | $ | (3,227) |  | $ | (2,685)
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 March 31, 2024 and December 31, 2023:
| March 31, 2024
|  |  |  | Gross |  | Gross |  |
| Amortized |  | Unrealized |  | Unrealized |  |  |
| Cost |  | Gains |  | Losses |  | Fair Value
| (In Thousands)
Residential Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years | $ | 563 |  | $ | - |  | $ | 23 |  | $ | 540
More than five to ten years |  | 3,914 |  |  | - |  |  | 257 |  |  | 3,657
More than ten years |  | 32,482 |  |  | 89 |  |  | 3,237 |  |  | 29,334
Sub-total: |  | 36,959 |  |  | 89 |  |  | 3,517 |  |  | 33,531
Corporate Debt securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years |  | 8,982 |  |  | - |  |  | 444 |  |  | 8,538
More than five to ten years |  | 50,582 |  |  | - |  |  | 5,685 |  |  | 44,897
Sub-total: |  | 59,564 |  |  | - |  |  | 6,129 |  |  | 53,435
Total securities | $ | 96,523 |  | $ | 89 |  | $ | 9,646 |  | $ | 86,966
| December 31, 2023
|  |  |  | Gross |  | Gross |  |
| Amortized |  | Unrealized |  | Unrealized |  |  |
| Cost |  | Gains |  | Losses |  | Fair Value
| (In Thousands)
Residential Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years | $ | 605 |  | $ | - |  | $ | 24 |  | $ | 581
More than five to ten years |  | 4,147 |  |  | - |  |  | 230 |  |  | 3,917
More than ten years |  | 32,833 |  |  | 192 |  |  | 2,910 |  |  | 30,115
Sub-total: |  | 37,585 |  |  | 192 |  |  | 3,164 |  |  | 34,613
Corporate Debt securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years |  | 8,981 |  |  | - |  |  | 197 |  |  | 8,784
More than five to ten years |  | 50,583 |  |  | - |  |  | 6,211 |  |  | 44,372
Sub-total: |  | 59,564 |  |  | - |  |  | 6,408 |  |  | 53,156
Total securities | $ | 97,149 |  | $ | 192 |  | $ | 9,572 |  | $ | 87,769
‎ 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)
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 5,187 |  | $ | 209 |  | $ | 21,438 |  | $ | 3,308 |  | $ | 26,625 |  | $ | 3,517
Corporate Debt securities |  | - |  |  | - |  |  | 52,135 |  |  | 6,129 |  |  | 52,135 |  |  | 6,129
| $ | 5,187 |  | $ | 209 |  | $ | 73,573 |  | $ | 9,437 |  | $ | 78,760 |  | $ | 9,646
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 5,316 |  | $ | 98 |  | $ | 22,153 |  | $ | 3,066 |  | $ | 27,469 |  | $ | 3,164
Corporate Debt Securities |  | - |  |  | - |  |  | 51,856 |  |  | 6,408 |  |  | 51,856 |  |  | 6,408
| $ | 5,316 |  | $ | 98 |  | $ | 74,009 |  | $ | 9,474 |  | $ | 79,325 |  | $ | 9,572

X
- References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration