Investment Securities (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024
(In Thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Fair Value
Available for Sale:
US Government Agency securities	$	13,017	$	96	$	(40	)	$	—	$	13,073
Obligations of state and political subdivisions		51,254		10		(4,063	)		—		47,201
Mortgage-backed securities in government-sponsored entities		88,289		61		(3,567	)		—		84,783
Other securities		542		—		(9	)		—		533
	$	153,102	$	167	$	(7,679	)	$	—	$	145,590
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair  Value		Allowance for Credit Losses
Held to Maturity:
Corporate debentures	$	15,250	$	—	$	(984	)	$	14,266	$	(459	)
Structured mortgage-backed securities		16,717		6		(705	)		16,018		—
	$	31,967	$	6	$	(1,689	)	$	30,284	$	(459	)
	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 Loss			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	)

Summary of Company's Gross Unrealized Loss Positions for Which an Allowance for Credit losses Not Recorded

The following tables show the Company's gross unrealized loss positions for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time the individual debt securities have been in a continuous unrealized loss position.

	December 31, 2024
	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	$	3,960	$	(40	)	$	—	$	—		$	3,960	$	(40	)
Obligations of state and political subdivisions		11,433		(273	)		34,345		(3,790	)		45,778		(4,063	)
Mortgage-backed securities in government-sponsored entities		45,629		(902	)		29,877		(2,665	)		75,506		(3,567	)
Other securities		—		—			407		(9	)		407		(9	)
	$	61,022	$	(1,215	)	$	64,629	$	(6,464	)	$	125,651	$	(7,679	)
	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	)

Schedule of Activity in Allowance for Credit Losses for Corporate Debentures Held to Maturity

The following tables presents the activity in the allowance for credit losses for corporate debentures held to maturity for the twelve months ended December 31, 2024 and 2023.

	For the Twelve Months Ended December 31,
(in Thousands)	2024
Balance, December 31, 2023	$	512
Changes in the allowance for credit losses		(53	)
Balance, December 31, 2024	$	459
	For the Twelve Months Ended December 31,
(in Thousands)	2023
Balance, December 31, 2022	$	—
Impact of adopting ASC 326		602
Changes in the allowance for credit losses		51
Securities charged-off		(141	)
Balance, December 31, 2023	$	512

Summary of Amortized Cost and Fair Value by Contractual Maturity

As of December 31, 2024, 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	$	660	$	655	$	3,000	$	2,982
Due after one year through five years		14,109		13,779		3,000		2,944
Due after five years through ten years		21,973		20,928		9,250		8,340
Due after ten years		27,529		24,912		—		—
Mortgage-backed securities and Collateralized mortgage obligations		88,289		84,783		16,717		16,018
Other securities		542		533		—		—
	$	153,102	$	145,590	$	31,967	$	30,284

Summary of Sales of Debt Securities

The following table summarizes sales of debt securities:

(In Thousands)	For the year ended December 31,
	2024		2023
Proceeds	$	1,691	$	91,364
Gross gains		4		—
Gross losses		—		2,370
Net gain (loss)	$	4	$	(2,370	)