NOTE 2 - SECURITIES (Tables)

3 Months Ended

Mar. 31, 2022

Note 2 - Securities

Marketable Securities [Table Text Block]

(in thousands)		Amortized cost basis		Gross un-realized gains		Gross un-realized losses		Fair value
March 31, 2022
Available-for-sale
U.S. Treasury	$	20,243	$	—	$	1,140	$	19,103
U.S. Government Agency notes		33,013		119		1,199		31,933
Municipal bonds		51,547		52		3,300		48,299
Mortgage-backed securities:
U.S. Government agencies and U.S. Government - sponsored enterprises		80,554		37		3,795		76,796
Collateralized mortgage obligations:
U.S. Government agencies		27,202		7		1,289		25,920
Corporate bonds		13,750		39		188		13,601
Total securities available-for-sale	$	226,309	$	254	$	10,911	$	215,652
CRA mutual fund							$	862
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	1,077	$	—	$	—	$	1,077

(in thousands)		Amortized cost basis		Gross un-realized gains		Gross un-realized losses		Fair value
December 31, 2021
Available-for-sale
U.S. Treasury	$	15,301	$	12	$	182	$	15,131
U.S. Government Agency notes		31,623		237		256		31,604
Municipal bonds		46,469		1,557		204		47,822
Mortgage-backed securities:
U.S. Government agencies and U.S. Government- sponsored enterprises		74,703		643		805		74,541
Collateralized mortgage obligations:
U.S. Government agencies		20,948		135		185		20,898
Corporate bonds		12,250		158		8		12,400
Total securities available-for-sale	$	201,294	$	2,742	$	1,640	$	202,396
CRA mutual fund							$	901
Non-marketable securities
Federal Home Loan Bank of Boston stock	$	1,397	$	—	$	—	$	1,397

Schedule of Unrealized Loss on Investments [Table Text Block]

	Less than 12 Months				12 Months or Longer				Total
March 31, 2022 (in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Available-for-sale
U.S. Treasury	$	19,103	$	1,140	$	—	$	—	$	19,103	$	1,140
U.S. Government Agency notes		20,669		1,159		4,867		40		25,536		1,199
Municipal bonds		42,942		3,242		493		58		43,435		3,300
Mortgage- backed securities:
U.S. Government agencies and U.S. Government- sponsored enterprises		58,882		2,945		12,697		850		71,579		3,795
Collateralized mortgage obligations:
U.S. Government agencies		22,414		1,289		—		—		22,414		1,289
Corporate bonds		5,312		188		—		—		5,312		188
Total temporarily impaired securities	$	169,322	$	9,963	$	18,057	$	948	$	187,379	$	10,911

	Less than 12 Months				12 Months or Longer				Total
December 31, 2021 (in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Available-for-sale
U.S. Treasury	$	12,155	$	182	$	—	$	—	$	12,155	$	182
U.S. Government Agency notes		22,137		235		2,019		21		24,156		256
Municipal bonds		12,496		204		552		—		13,048		204
Mortgage-backed securities:
U.S. Government agencies and U.S. Government-sponsored enterprises		52,619		740		3,195		65		55,814		805
Collateralized mortgage obligations		11,554		185		—		—		11,554		185
Corporate bonds		1,742		8		—		—		1,742		8
Total temporarily impaired securities	$	112,703	$	1,554	$	5,766	$	86	$	118,469	$	1,640

Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]

March 31, 2022 (in thousands)	Maturity	Amortized cost			Fair value	Yield(1)
U.S. Treasury	After 1 year but within 5 years	$	6,918	$	6,729	1.48	%
	After 5 year but within 10 years		13,325		12,374	1.17
	Total		20,243		19,103	1.28
U.S. Government Agency notes	After 1 year but within 5 years		996		930	1.09
	After 5 year but within 10 years		14,913		13,921	1.24
	Total		15,909		14,851	1.23
Municipal bonds	After 1 year but within 5 years		512		490	1.74
	After 5 year but within 10 years		12,789		11,893	2.38
	After 10 years but within 15 years		12,393		11,547	2.38
	After 15 years		25,853		24,369	2.54
	Total		51,547		48,299	2.45
Mortgage-backed securities and Collateralized mortgage obligations	Securities not due at a single maturity date		124,860		119,798	1.91
	Total		124,860		119,798	1.91
Corporate bonds	After 5 years but within 10 years		13,250		13,101	4.33
	After 10 years but within 15 years		500		500	4.75
	Total		13,750		13,601	4.35
Securities available-for-sale		$	226,309	$	215,652	2.16	%

⁽¹⁾       Yield is based on amortized cost.