XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.3
Available-for-Sale Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments [Abstract]  
Available-for-sale Securities
The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale securities at September 30, 2023 and December 31, 2022 are as follows:
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair
Value
September 30, 2023:
U. S. Government agency and mortgage-backed securities$81,233 $— $(18,602)$62,631 
Corporate bonds17,994 — (4,785)13,209 
Subordinated notes5,000 — (736)4,264 
SBA loan pools6,151 — (1,030)5,121 
Municipal bonds560 — (99)461 
Total available-for-sale securities$110,938 $— $(25,252)$85,686 
December 31, 2022:
U. S. Government agency and mortgage-backed securities$73,480 $— $(14,434)$59,046 
Corporate bonds19,773 7 (5,125)14,655 
Subordinated notes5,000 — (398)4,602 
SBA loan pools6,791 — (1,073)5,718 
Municipal bonds561 — (62)499 
Total available-for-sale securities$105,605 $7 $(21,092)$84,520 
Schedule of Unrealized Loss on Investments
The following table presents the available-for-sale securities’ gross unrealized losses and fair value, aggregated by the length of time the individual securities have been in a continuous loss position as of September 30, 2023 and December 31, 2022:
(In thousands)Less than 12 Months12 Months or MoreTotal
Fair
Value 		Unrealized
(Loss) 		Fair
Value 		Unrealized
(Loss) 		Fair
Value 		Unrealized
(Loss)
September 30, 2023:
U. S. Government agency and mortgage-backed securities$9,652 $(664)$52,979 $(17,938)$62,631 $(18,602)
Corporate bonds— — 13,209 (4,785)13,209 (4,785)
Subordinated notes— — 4,264 (736)4,264 (736)
SBA loan pools— — 5,121 (1,030)5,121 (1,030)
Municipal bonds— — 461 (99)461 (99)
Total available-for-sale securities$9,652 $(664)$76,034 $(24,588)$85,686 $(25,252)
      
December 31, 2022:      
U. S. Government agency and mortgage-backed securities$11,126 $(633)$47,920 $(13,801)$59,046 $(14,434)
Corporate bonds1,959 (64)10,934 (5,061)12,893 (5,125)
Subordinated notes4,602 (398)— — 4,602 (398)
SBA loan pools1,437 (12)4,280 (1,061)5,717 (1,073)
Municipal bonds— — 498 (62)498 (62)
Total available-for-sale securities$19,124 $(1,107)$63,632 $(19,985)$82,756 $(21,092)
Investments Classified by Contractual Maturity Date
The following summarizes, by class and contractual maturity, the amortized cost and estimated fair value of available-for-sale debt securities held as of September 30, 2023 and December 31, 2022. The mortgages underlying the mortgage-backed securities are not due at a single maturity date. Additionally, these mortgages often are and generally may be pre-paid without penalty, creating a degree of uncertainty that such investments can be held until maturity. For convenience, mortgage-backed securities have been included in the summary as a separate line item.
(In thousands)Amortized CostFair Value
Due
Within
5 years		 Due After
5 years
through
10 years		 Due
After
10 years		TotalDue
Within
5 years		 Due After
5 years
through
10 years		 Due
After
10 years		Total
September 30, 2023:
Corporate bonds$2,000  $15,994  $— $17,994 $1,876  $11,333  $— $13,209 
Subordinated notes3,000  2,000  — 5,000 2,522  1,742  — 4,264 
SBA loan pools—  1,245  4,906 6,151 —  1,232  3,889 5,121 
Municipal bonds154  406  — 560 136  325  — 461 
Available-for-sale securities with stated maturity dates5,154  19,645  4,906 29,705 4,534  14,632  3,889 23,055 
U. S. Government agency and mortgage-backed securities—  5,230  76,003 81,233 —  3,911  58,720 62,631 
Total available-for-sale securities$5,154  $24,875  $80,909 $110,938 $4,534  $18,543  $62,609 $85,686 
December 31, 2022:
Corporate bonds$3,778  $15,995  $— $19,773 $3,721  $10,934  $— $14,655 
Subordinated notes3,000  2,000  — 5,000 2,830  1,772  — 4,602 
SBA loan pools—  1,449  5,342 6,791 —  1,438  4,280 5,718 
Municipal bonds154  407  — 561 139  360  — 499 
Available-for-sale securities with stated maturity dates6,932  19,851  5,342 32,125 6,690  14,504  4,280 25,474 
U. S. Government agency and mortgage-backed securities—  5,276  68,204 73,480 —  4,129  54,917 59,046 
Total available-for-sale securities$6,932  $25,127  $73,546 $105,605 $6,690  $18,633  $59,197 $84,520