XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.24.3

Available-for-Sale Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Investments [Abstract] |
Schedule of Available-for-sale Securities | The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale securities at September 30, 2024 and December 31, 2023 are as follows:
(In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
September 30, 2024: |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 79,082 |  |  | $ | 33 |  |  | $ | (12,826) |  |  | $ | 66,289 |
Corporate bonds | 17,995 |  |  | — |  |  | (3,290) |  |  | 14,705 |
Subordinated notes | 5,000 |  |  | — |  |  | (601) |  |  | 4,399 |
SBA loan pools | 4,561 |  |  | — |  |  | (863) |  |  | 3,698 |
Municipal bonds | 558 |  |  | — |  |  | (71) |  |  | 487 |
Total available-for-sale securities | $ | 107,196 |  |  | $ | 33 |  |  | $ | (17,651) |  |  | $ | 89,578 |
December 31, 2023: |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 80,500 |  |  | $ | — |  |  | $ | (14,829) |  |  | $ | 65,671 |
Corporate bonds | 17,995 |  |  | — |  |  | (4,229) |  |  | 13,766 |
Subordinated notes | 5,000 |  |  | — |  |  | (773) |  |  | 4,227 |
SBA loan pools | 6,002 |  |  | — |  |  | (965) |  |  | 5,037 |
Municipal bonds | 559 |  |  | — |  |  | (73) |  |  | 486 |
Total available-for-sale securities | $ | 110,056 |  |  | $ | — |  |  | $ | (20,869) |  |  | $ | 89,187 |
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | 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, 2024 and December 31, 2023:
(In thousands) | Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized (Loss) |  | Fair Value |  | Unrealized (Loss) |  | Fair Value |  | Unrealized (Loss)
September 30, 2024: |  |  |  |  |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 2,237 |  |  | $ | (56) |  |  | $ | 61,966 |  |  | $ | (12,770) |  |  | $ | 64,203 |  |  | $ | (12,826) |
Corporate bonds | — |  |  | — |  |  | 14,705 |  |  | (3,290) |  |  | 14,705 |  |  | (3,290) |
Subordinated notes | — |  |  | — |  |  | 4,399 |  |  | (601) |  |  | 4,399 |  |  | (601) |
SBA loan pools | — |  |  | — |  |  | 3,698 |  |  | (863) |  |  | 3,698 |  |  | (863) |
Municipal bonds | — |  |  | — |  |  | 487 |  |  | (71) |  |  | 487 |  |  | (71) |
Total available-for-sale securities | $ | 2,237 |  |  | $ | (56) |  |  | $ | 85,255 |  |  | $ | (17,595) |  |  | $ | 87,492 |  |  | $ | (17,651) |
December 31, 2023: |  |  |  |  |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 9,984 |  |  | $ | (286) |  |  | $ | 55,687 |  |  | $ | (14,543) |  |  | $ | 65,671 |  |  | $ | (14,829) |
Corporate bonds | — |  |  | — |  |  | 13,766 |  |  | (4,229) |  |  | 13,766 |  |  | (4,229) |
Subordinated notes | — |  |  | — |  |  | 4,227 |  |  | (773) |  |  | 4,227 |  |  | (773) |
SBA loan pools | — |  |  | — |  |  | 5,037 |  |  | (965) |  |  | 5,037 |  |  | (965) |
Municipal bonds | — |  |  | — |  |  | 486 |  |  | (73) |  |  | 486 |  |  | (73) |
Total available-for-sale securities | $ | 9,984 |  |  | $ | (286) |  |  | $ | 79,203 |  |  | $ | (20,583) |  |  | $ | 89,187 |  |  | $ | (20,869) |
Schedule of 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, 2024 and December 31, 2023. 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 Cost |  | Fair Value
| Due Within 5 years |  | Due After 5 years through 10 years |  | Due After 10 years |  | Total |  | Due Within 5 years |  | Due After 5 years through 10 years |  | Due After 10 years |  | Total
September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | 2,000 |  |  | $ | 15,995 |  |  | $ | — |  |  | $ | 17,995 |  |  | $ | 1,953 |  |  | $ | 12,752 |  |  | $ | — |  |  | $ | 14,705 |
Subordinated notes | 3,000 |  |  | 2,000 |  |  | — |  |  | 5,000 |  |  | 2,580 |  |  | 1,819 |  |  | — |  |  | 4,399 |
SBA loan pools | — |  |  | — |  |  | 4,561 |  |  | 4,561 |  |  | — |  |  | — |  |  | 3,698 |  |  | 3,698 |
Municipal bonds | 153 |  |  | 405 |  |  | — |  |  | 558 |  |  | 142 |  |  | 345 |  |  | — |  |  | 487 |
Available-for-sale securities with stated maturity dates | 5,153 |  |  | 18,400 |  |  | 4,561 |  |  | 28,114 |  |  | 4,675 |  |  | 14,916 |  |  | 3,698 |  |  | 23,289 |
U. S. Government agency and mortgage-backed securities | — |  |  | 5,178 |  |  | 73,904 |  |  | 79,082 |  |  | — |  |  | 4,320 |  |  | 61,969 |  |  | 66,289 |
Total available-for-sale securities | $ | 5,153 |  |  | $ | 23,578 |  |  | $ | 78,465 |  |  | $ | 107,196 |  |  | $ | 4,675 |  |  | $ | 19,236 |  |  | $ | 65,667 |  |  | $ | 89,578 |
December 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | 2,000 |  |  | $ | 15,995 |  |  | $ | — |  |  | $ | 17,995 |  |  | $ | 1,947 |  |  | $ | 11,819 |  |  | $ | — |  |  | $ | 13,766 |
Subordinated notes | 3,000 |  |  | 2,000 |  |  | — |  |  | 5,000 |  |  | 2,527 |  |  | 1,700 |  |  | — |  |  | 4,227 |
SBA loan pools | — |  |  | 1,096 |  |  | 4,906 |  |  | 6,002 |  |  | — |  |  | 1,084 |  |  | 3,953 |  |  | 5,037 |
Municipal bonds | 153 |  |  | 406 |  |  | — |  |  | 559 |  |  | 140 |  |  | 346 |  |  | — |  |  | 486 |
Available-for-sale securities with stated maturity dates | 5,153 |  |  | 19,497 |  |  | 4,906 |  |  | 29,556 |  |  | 4,614 |  |  | 14,949 |  |  | 3,953 |  |  | 23,516 |
U. S. Government agency and mortgage-backed securities | — |  |  | 5,222 |  |  | 75,278 |  |  | 80,500 |  |  | — |  |  | 4,237 |  |  | 61,434 |  |  | 65,671 |
Total available-for-sale securities | $ | 5,153 |  |  | $ | 24,719 |  |  | $ | 80,184 |  |  | $ | 110,056 |  |  | $ | 4,614 |  |  | $ | 19,186 |  |  | $ | 65,387 |  |  | $ | 89,187 |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration