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Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Securities [Abstract]  
Available-for-Sale Investment Securities Portfolios

The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the dates indicated and the corresponding amounts of unrealized gains and losses which were recognized in accumulated other comprehensive loss:
   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
   
(In thousands)
  
March 31, 2025:
      
Federal agency mortgage-backed securities
  
$
60,996
    
$
8
    
$
(8,673
)
  
$
52,331
  
Federal agency collateralized mortgage obligations (“CMO”)
     20,235       7       (987 )     19,255  
Federal agency debt
    
42,141
      
2
      
(1,616
)
    
40,527
  
Municipal bonds
    
4,791
      
–
      
(373
)
    
4,418
  
U. S. Treasuries
    
60,916
      
–
      
(364
)
    
60,552
  
U.S. Small Business Administration (“SBA”) pools
    
10,239
      
2
      
(1,386
)
    
8,855
  
Total available-for-sale securities
  
$
199,318
    
$
19
    
$
(13,399
)
  
$
185,938
  
December 31, 2024:
  
 
Federal agency mortgage-backed securities
  
$
62,853
    
$
8
    
$
(9,832
)
  
$
53,029
  
Federal agency CMOs
     21,299       6       (1,247 )     20,058  
Federal agency debt
    
42,100
      
2
      
(2,068
)
    
40,034
  
Municipal bonds
    
4,800
      
–
      
(412
)
    
4,388
  
U. S. Treasuries
     77,857       –       (667 )     77,190  
SBA pools
     10,749       2       (1,588 )     9,163  
Total available-for-sale securities
  
$
219,658
    
$
18
    
$
(15,814
)
  
$
203,862
  
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity

The amortized cost and estimated fair value of all investment securities available-for-sale at March 31, 2025, by contractual maturities are shown below. Contractual maturities may differ from expected maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
   
(In thousands)
  
Due in one year or less
  
$
78,710
    
$
–
    
$
(669
)
  
$
78,041
  
Due after one year through five years
    
27,881
      
2
      
(1,670
)
    
26,213
  
Due after five years through ten years
    
21,405
      
13
      
(824
)
    
20,594
  
Due after ten years
    
71,322
      
4
      
(10,236
)
    
61,090
  
   
$
199,318
    
$
19
    
$
(13,399
)
  
$
185,938
  
Securities in Continuous Unrealized Loss Position

The table below indicates the length of time individual securities have been in a continuous unrealized loss position:

   
Less than 12 Months
    
12 Months or Longer
    
Total
  
   

Fair Value
    
Unrealized
Losses
    

Fair Value
    
Unrealized
Losses
    

Fair Value
    
Unrealized
Losses
  
   
(In thousands)
  
March 31, 2025:
                                    
Federal agency mortgage-backed securities
  
$
–
    
$
–
 
$
51,886
    
$
(8,673
)
  
$
51,886
    
$
(8,673
)
Federal agency CMOs
    
–
      
–
   
16,995
      
(987
)
    
16,995
      
(987
)
Federal agency debt
    
–
      
–
   
38,003
      
(1,616
)
    
38,003
      
(1,616
)
Municipal bonds
    
–
      
–
   
4,418
      
(373
)
    
4,418
      
(373
)
U. S. Treasuries
    
–
      
–
   
60,552
      
(364
)
    
60,552
      
(364
)
SBA pools
    
587
      
(1
)
    
7,925
      
(1,385
)
    
8,512
      
(1,386
)
Total unrealized loss position investment securities
  
$
587
    
$
(1
)
  
$
179,779
    
$
(13,398
)
  
$
180,366
    
$
(13,399
)
                                                 
December 31, 2024:
                                                
Federal agency mortgage-backed securities
  
$
–
    
$
–
 
$
52,568
    
$
(9,832
)
  
$
52,568
    
$
(9,832
)
Federal agency CMOs     –       –     19,303       (1,247 )     19,303       (1,247 )
Federal agency debt
    
–
      
–
   
37,508
      
(2,068
)
    
37,508
      
(2,068
)
Municipal bonds
    
–
      
–
   
4,388
      
(412
)
    
4,388
      
(412
)
U. S. Treasuries
    
–
      
–
   
77,190
      
(667
)
    
77,190
      
(667
)
SBA pools     629       (1 )     8,179       (1,587 )     8,808       (1,588 )
Total unrealized loss position investment securities
  
$
629
    
$
(1
)
  
$
199,136
    
$
(15,813
)
  
$
199,765
    
$
(15,814
)