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Securities | 9 Months Ended
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Sep. 30, 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 and nine months ended September 30, 2024, 2023 and 2022:
|  | For the three months ended September 30, |  | For the nine months ended September 30,
(In Thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Net gains (losses) recognized during the period on equity securities held at the reporting date |  | $ | 1,132 |  | $ | (436) |  | $ | (559) |  | $ | 1,040 |  | $ | (4,157) |  | $ | (5,487)
Net losses recognized during the period on equity securities sold during the period |  |  | - |  |  | (58) |  |  | - |  |  | - |  |  | (233) |  |  | (59)
Realized and unrealized gains (losses) on equity investments during the reporting period |  | $ | 1,132 |  | $ | (494) |  | $ | (559) |  | $ | 1,040 |  | $ | (4,390) |  | $ | (5,546)
‎ 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 September 30, 2024 and December 31, 2023:
| September 30, 2024
|  |  |  | Gross |  | Gross |  |
| Amortized |  | Unrealized |  | Unrealized |  |  |
| Cost |  | Gains |  | Losses |  | Fair Value
| (In Thousands)
Residential Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years | $ | 481 |  | $ | - |  | $ | 10 |  | $ | 471
More than five to ten years |  | 3,451 |  |  | - |  |  | 146 |  |  | 3,305
More than ten years |  | 41,648 |  |  | 246 |  |  | 2,265 |  |  | 39,629
Sub-total: |  | 45,580 |  |  | 246 |  |  | 2,421 |  |  | 43,405
Corporate Debt securities: |  |  |  |  |  |  |  |  |  |  |
More than one to five years |  | 8,984 |  |  | - |  |  | 388 |  |  | 8,596
More than five to ten years |  | 50,581 |  |  | 40 |  |  | 4,453 |  |  | 46,168
Sub-total: |  | 59,565 |  |  | 40 |  |  | 4,841 |  |  | 54,764
Total securities | $ | 105,145 |  | $ | 286 |  | $ | 7,262 |  | $ | 98,169
| 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)
September 30 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | - |  | $ | - |  | $ | 26,375 |  | $ | 2,421 |  | $ | 26,375 |  | $ | 2,421
Corporate Debt securities |  | - |  |  | - |  |  | 50,420 |  |  | 4,841 |  |  | 50,420 |  |  | 4,841
| $ | - |  | $ | - |  | $ | 76,795 |  | $ | 7,262 |  | $ | 76,795 |  | $ | 7,262
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

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