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Available-for-sale securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investments [Abstract]  
Available-for-sale Securities
At December 31, 2023 and 2022, the amortized cost, gross unrealized gains, gross unrealized losses and approximate fair value of available-for-sale securities was as follows:
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized (Losses)Fair Value
December 31, 2023:
U. S. Government agency and mortgage-backed securities$80,500 $— $(14,829)$65,671 
Corporate bonds17,995 — (4,229)13,766 
Subordinated notes5,000 — (773)4,227 
SBA loan pools6,002 — (965)5,037 
Municipal bonds559 — (73)486 
$110,056 $— $(20,869)$89,187 
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 
$105,605 $7 $(21,092)$84,520 
Schedule of Unrealized Loss on Investments
The following table presents 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 December 31, 2023 and 2022:
(In thousands)Less than 12 Months12 Months or MoreTotal
Fair Value Unrealized (Loss) Fair Value Unrealized (Loss) Fair Value Unrealized (Loss)
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)
$9,984 $(286)$79,203 $(20,583)$89,187 $(20,869)
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)
$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 at December 31, 2023 and 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
December 31, 2023:
Corporate bonds$2,000 $15,995 $— $17,995 $1,947 $11,819 $— $13,766 
Subordinated notes3,000 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 bonds153 406 — 559 140 346 — 486 
Available-for-sale securities with stated maturity dates5,153 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 
$5,153 $24,719 $80,184 $110,056 $4,614 $19,186 $65,387 $89,187 
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 
$6,932 $25,127 $73,546 $105,605 $6,690 $18,633 $59,197 $84,520