Investment Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost, Gross Unrealized Gains and Losses, Allowance for Credit Losses and Fair Value of Investment Securities Available for Sale

The amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value of investment securities available for sale are summarized as follows:

	December 31, 2023
(In Thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Fair Value
Available for Sale:
US Government Agency securities	$	12,711	$	279	$	(5	)	$	—	$	12,985
US Government Treasury securities		4,925		17		—			—		4,942
Obligations of state and political subdivisions		49,640		420		(3,015	)		—		47,045
Mortgage-backed securities in government-sponsored entities		50,795		515		(3,129	)		—		48,181
Other securities		2,301		49		(13	)		—		2,337
	$	120,372	$	1,280	$	(6,162	)	$	—	$	115,490
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair  Value		Allowance for Credit Losses
Held to Maturity:
Corporate debentures	$	15,000	$	—	$	(1,592	)	$	13,408	$	(512	)
Structured mortgage-backed securities		21,735		—		(907	)		20,828		—
	$	36,735	$	—	$	(2,499	)	$	34,236	$	(512	)
	December 31, 2022
(In Thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale:
Small Business Administration loan pools	$	858	$	—	$	(15	)	$	843
Obligations of state and political subdivisions		44,189		14		(4,034	)		40,169
Mortgage-backed securities in government-sponsored entities		41,873		—		(4,072	)		37,801
	$	86,920	$	14	$	(8,121	)	$	78,813
Held to Maturity:
Corporate debentures	$	14,993	$	—	$	(994	)	$	13,999
Structured mortgage-backed securities		16,829		—		(748	)		16,081
	$	31,822	$	—	$	(1,742	)	$	30,080

Summary of Gross Unrealized Losses and Fair Value

The following tables show the Company's gross unrealized losses and fair value, aggregated by investment category and length of time the individual debt securities have been in a continuous unrealized loss position.

	December 31, 2023
	Less Than Twelve Months					Twelve Months or Greater					Total
(In Thousands)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
Available for Sale:
US Government Agency Securities	$	1,995	$	(5	)	$	—	$	—		$	1,995	$	(5	)
Obligations of state and political subdivisions		4,836		(247	)		27,736		(2,768	)		32,572		(3,015	)
Mortgage-backed securities in government-sponsored entities		4,703		(136	)		31,249		(2,993	)		35,952		(3,129	)
Other securities		—		—			601		(13	)		601		(13	)
	$	11,534	$	(388	)	$	59,586	$	(5,774	)	$	71,120	$	(6,162	)
	December 31, 2022
	Less Than Twelve Months					Twelve Months or Greater					Total
(In Thousands)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
Available for Sale:
Small Business Administration loan pools	$	334	$	(1	)	$	509	$	(14	)	$	843	$	(15	)
Obligations of state and political subdivisions		34,836		(3,372	)		2,559		(662	)		37,395		(4,034	)
Mortgage-backed securities in government-sponsored entities		18,052		(1,538	)		19,749		(2,534	)		37,801		(4,072	)
	$	53,222	$	(4,911	)	$	22,817	$	(3,210	)	$	76,039	$	(8,121	)
Held to Maturity
Corporate debentures	$	13,999	$	(994	)	$	—	$	—		$	13,999	$	(994	)
Structured mortgage-backed securities		16,081		(748	)		—		—			16,081		(748	)
	$	30,080	$	(1,742	)	$	—	$	—		$	30,080	$	(1,742	)

Summary of Amortized Cost and Fair Value by Contractual Maturity

As of December 31, 2023, amortized cost and fair value by contractual maturity, where applicable, are shown below. Actual maturities may differ from contractual maturities because the borrower may have the right to prepay obligations with or without penalty.

	Available for Sale Securities				Held to Maturity Securities
(In Thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	8,093	$	8,160	$	—	$	—
Due after one year through five years		12,154		12,186		6,000		5,795
Due after five years through ten years		19,812		19,248		9,000		7,613
Due after ten years		27,845		25,993		—		—
Mortgage-backed securities and Collateralized mortgage obligations		50,795		48,181		21,735		20,828
Other securities		1,673		1,722		—		—
	$	120,372	$	115,490	$	36,735	$	34,236

Summary of Sales of Debt Securities

The following table summarizes sales of debt securities:

(In Thousands)	For the year ended December 31,
	2023			2022
Proceeds	$	91,364		$	513
Gross gains		—			13
Gross losses		2,370			—
Net loss	$	(2,370	)	$	13