Securities Available for Sale (Tables)

6 Months Ended

Jun. 30, 2020

Securities Available for Sale [Abstract]

Amortized Cost and Fair Values of Investment in Securities Available for Sale

The amortized cost and fair values of the Company’s investment in securities available for sale follow:

	June 30, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(In Thousands)
Mortgage-backed securities	$	28,320	$	1,392	$	-		$	29,712
Collateralized mortgage obligations:
Government sponsored enterprise issued		66,610		2,377		-			68,987
Private-label issued		3,776		28		-			3,804
Mortgage-related securities		98,706		3,797		-			102,503
Municipal securities		48,421		2,229		-			50,650
Other debt securities		12,500		-		(1,541	)		10,959
Debt securities		60,921		2,229		(1,541	)		61,609
	$	159,627	$	6,026	$	(1,541	)	$	164,112

	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(In Thousands)
Mortgage-backed securities	$	33,773	$	422	$	(45	)	$	34,150
Collateralized mortgage obligations:
Government sponsored enterprise issued		81,232		776		(254	)		81,754
Mortgage-related securities		115,005		1,198		(299	)		115,904
Municipal securities		51,898		1,795		(1	)		53,692
Other debt securities		10,000		-		(1,120	)		8,880
Debt securities		61,898		1,795		(1,121	)		62,572
	$	176,903	$	2,993	$	(1,420	)	$	178,476

Amortized Cost and Fair Values of Investment Securities by Contractual Maturity

The amortized cost and fair values of investment securities by contractual maturity at June 30, 2020 are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(In Thousands)
Debt and other securities
Due within one year	$	4,208	$	4,244
Due after one year through five years		34,829		35,902
Due after five years through ten years		21,236		20,625
Due after ten years		648		838
Mortgage-related securities		98,706		102,503
	$	159,627	$	164,112

Total Proceeds and Gross Gains and Losses from Sales of Investment Securities Available for Sale

Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows:

	June 30, 2020
	Less than 12 months					12 months or longer					Total
	Fair value		Unrealized loss			Fair value		Unrealized loss			Fair value		Unrealized loss
	(In Thousands)
Mortgage-backed securities	$	-	$	-		$	-	$	-		$	-	$	-
Collateralized mortgage obligations:
Government sponsored enterprise issued		-		-			-		-			-		-
Private label issued		-		-			-		-			-		-
Municipal securities		-		-			-		-			-		-
Other debt securities		2,467		(33	)		8,492		(1,508	)		10,959		(1,541	)
	$	2,467	$	(33	)	$	8,492	$	(1,508	)	$	10,959	$	(1,541	)

	December 31, 2019
	Less than 12 months					12 months or longer					Total
	Fair value		Unrealized loss			Fair value		Unrealized loss			Fair value		Unrealized loss
	(In Thousands)
Mortgage-backed securities	$	2,929	$	(20	)	$	2,849	$	(25	)	$	5,778	$	(45	)
Collateralized mortgage obligations:
Government sponsored enterprise issued		21,723		(136	)		7,180		(118	)		28,903		(254	)
Municipal securities		100		(1	)		-		-			100		(1	)
Other debt securities		-		-			8,880		(1,120	)		8,880		(1,120	)
	$	24,752	$	(157	)	$	18,909	$	(1,263	)	$	43,661	$	(1,420	)