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Securities
 3 Months Ended
Mar. 31, 2025
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 (loss) income on equity securities during the three months ended March 31, 2025, 2024 and 2023:

For the three months ended March 31,

(In Thousands)

2025

2024

2023

Net (losses) gains recognized during the period on equity securities held at the reporting period

$

(115)

$

130 

$

(3,227)

Net (losses) gains recognized during the period on equity securities sold during the period

-

-

-

Realized and unrealized (losses) gains on equity investments during the reporting period

$

(115)

$

130 

$

(3,227)


‎

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 March 31, 2025 and December 31, 2024:

March 31, 2025

  

Gross

  

Gross

  

Amortized

Unrealized

Unrealized

Cost

Gains

Losses

Fair Value

(In Thousands)

Residential Mortgage-backed securities:

  

  

  

More than one to five years

$

1,187

$

-

$

42

$

1,145

More than five to ten years

2,239

-

103

2,136

More than ten years

59,092

  

411

  

2,953

  

56,550

Sub-total:

62,518

411

3,098

59,831

Corporate Debt securities:

More than one to five years

38,789

26

836

37,979

More than five to ten years

20,775

-

2,089

18,686

Sub-total:

59,564

26

2,925

56,665

Total securities

$

122,082

  

$

437

  

$

6,023

  

$

116,496

December 31, 2024

  

Gross

  

Gross

  

Amortized

Unrealized

Unrealized

Cost

Gains

Losses

Fair Value

(In Thousands)

Residential Mortgage-backed securities:

  

  

  

More than one to five years

$

1,286 

$

-

$

57 

$

1,229 

More than five to ten years

2,395 

-

135 

2,260 

More than ten years

45,345 

188 

3,508 

42,025 

Sub-total:

49,026 

188 

3,700 

45,514 

Corporate Debt securities:

More than one to five years

37,488 

-

1,081 

36,407 

More than five to ten years

22,076 

-

2,280 

19,796 

Sub-total:

59,564 

-

3,361 

56,203 

Total securities

$

108,590 

$

188 

$

7,061 

$

101,717 


‎

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, 2025

  

  

  

  

  

Residential mortgage-backed securities

$

4,853

  

$

23

  

$

30,333

  

$

3,075

  

$

35,186

  

$

3,098

Corporate Debt securities

-

-

52,335

2,925

52,335

2,925

$

4,853

  

$

23

  

$

82,668

  

$

6,000

  

$

87,521

  

$

6,023

December 31, 2024

  

  

  

  

  

Residential mortgage-backed securities

$

10,558

  

$

127

  

$

24,673

  

$

3,573

  

$

35,231

  

$

3,700

Corporate Debt Securities

2,985

19

51,918

3,342

54,903

3,361

$

13,543

  

$

146

  

$

76,591

  

$

6,915

  

$

90,134

  

$

7,061