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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary of amortized cost of securities available for sale and their estimated fair value
The amortized cost of securities available-for-sale and their estimated fair values at March 31, 2023 and December 31, 2022 are as follows:
Amortized
Cost		Gross Unrealized GainsGross Unrealized LossesEstimated
Fair
Value
(In thousands)
March 31, 2023
Available-for-sale
U.S. Treasury Note$46,936 $— $(2,641)$44,295 
Corporate Bonds81,667 2 (5,147)76,522 
U.S. Government agency obligations15,792 — (881)14,911 
Obligations issued by U.S. states and their political subdivisions
16,512 114 (247)16,379 
Mortgage-backed securities:
Residential one-to-four family
161,428 — (22,110)139,318 
Multifamily
14,368 — (906)13,462 
Asset-backed securities4,524 — (328)4,196 
Total available-for-sale$341,227 $116 $(32,260)$309,083 
December 31, 2022
Available-for-sale
U.S. Treasury Note$46,937 $— $(3,178)$43,759 
Corporate Bonds81,725 4 (5,431)76,298 
U.S. Government agency obligations16,367 — (944)15,423 
Obligations issued by U.S. states and their political subdivisions
16,559 49 (340)16,268 
Mortgage-backed securities:
Residential one-to-four family
164,843 — (24,657)140,186 
Multifamily
19,475 — (1,317)18,158 
Asset-backed securities4,525 — (369)4,156 
Total available-for-sale$350,431 $53 $(36,236)$314,248 
Summary of amortized cost of securities held to maturity and their estimated fair value
The amortized cost of securities held-to-maturity, allowance for credit losses and their estimated fair values at March 31, 2023 and December 31, 2022, are as follows:
Amortized CostGross Unrecognized GainsGross Unrecognized LossesEstimated
Fair
Value
(In thousands)
March 31, 2023
Held-to-maturity
     Corporate bonds$18,600 $— $(2,365)$16,235 
     Asset-backed securities15,059 — (1,915)13,144 
Total held-to-maturity$33,659 $— $(4,280)$29,379 
December 31, 2022
Held-to-maturity
Corporate bonds$18,600 $— $(2,281)$16,319 
     Asset-backed securities15,105 — (2,309)12,796 
Total Held-to-maturity$33,705 $— $(4,590)$29,115 
Summary of amortized cost and fair value of debt securities shown by contractual maturity
The amortized cost and fair value of debt securities are shown below by contractual maturity. Expected maturities on mortgage and asset-backed securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without penalties. Securities not due at a single maturity are shown separately.
March 31, 2023
Amortized Cost (1)Estimated Fair Value
(In thousands)
Available-for-sale
Due in one year or less$35,150 $34,433 
Due from one year to five years99,964 95,028 
Due from five to ten years21,989 19,079 
Due after ten years3,804 3,567 
Mortgage-backed and asset-backed securities180,320 156,976 
Total$341,227 $309,083 
Held-to-maturity
  Due from one year to five years$6,007 $5,420 
  Due from five to ten years 27,652 23,959 
Total$33,659 $29,379 
(1) Excludes the allowance for credit losses on held-to-maturity securities at March 31, 2023.
Summary of credit profile of debt securities held to maturity
The table below indicates the credit profile of the Company’s debt securities held-to-maturity at amortized cost at March 31, 2023.
AAAA1BBB+BBBBBB-Total
(In thousands)
Corporate bonds$— $— $1,600 $11,000 $6,000 $18,600 
Asset-backed securities9,053 6,006 — — — 15,059 
Total held-to-maturity$9,053 $6,006 $1,600 $11,000 $6,000 $33,659 
Summary of available-for-sale securities with unrealized losses
The following tables summarize available-for-sale securities with unrealized losses at March 31, 2023 and December 31, 2022, aggregated by major security type and length of time in a continuous loss position.
Less than 12 Months12 Months or MoreTotal
Unrealized LossesEstimated
Fair Value		Unrealized LossesEstimated
Fair Value		Number of SecuritiesUnrealized LossesEstimated
Fair Value
(In thousands)
March 31, 2023
Available-for-sale
U.S. Treasury Note$— $— $(2,641)$44,295 5$(2,641)$44,295 
Corporate Bonds(977)28,718 (4,170)43,808 31(5,147)72,526 
U.S. Government agency obligations(5)656 (876)14,255 4(881)14,911 
Obligations issued by U.S. states and their political subdivisions(20)4,406 (227)2,878 8(247)7,284 
Mortgage-backed securities:— — 
Residential one-to-four family(1)54 (22,109)139,255 48(22,110)139,309 
Multifamily(15)2,298 (891)11,164 5(906)13,462 
Asset-backed securities— — (328)4,197 2(328)4,197 
Total available-for-sale$(1,018)$36,132 $(31,242)$259,852 103$(32,260)$295,984 
December 31, 2022
Available-for-sale
U.S. Treasury Note$(1,342)$28,670 $(1,836)$15,089 5$(3,178)$43,759 
Corporate Bonds(3,608)58,509 (1,823)15,522 31(5,431)74,031 
U.S. Government agency obligations(5)696 (939)14,727 5(944)15,423 
Obligations issued by U.S. states and their political subdivisions(65)5,641 (275)1,568 8(340)7,209 
Mortgage-backed securities:
Residential one-to-four family(8,273)60,986 (16,384)79,189 49(24,657)140,175 
Multifamily(1,166)17,689 (151)469 5(1,317)18,158 
Asset-backed securities— — (369)4,156 2(369)4,156 
Total available-for-sale$(14,459)$172,191 $(21,777)$130,720 105$(36,236)$302,911 
Summary of held-for-maturity with unrealized losses
The following tables summarizes held-to-maturity securities with unrealized losses at March 31, 2023 and December 31, 2022, aggregated by major security type and length of time in a continuous loss position.
Less than 12 Months12 Months or MoreTotal
Unrecognized LossesEstimated
Fair Value		Unrecognized LossesEstimated
Fair Value		Number of SecuritiesUnrecognized LossesEstimated
Fair Value
(In thousands)
March 31, 2023
Held-to-maturity
Corporate Bonds(341)4,658 (2,024)11,576 9(2,365)16,234 
Asset-backed securities— — (1,916)13,145 2(1,916)13,145 
Total held-to-maturity$(341)$4,658 $(3,940)$24,721 11$(4,281)$29,379 
December 31, 2022
Held-to-maturity
Corporate Bonds(1,177)10,423 (1,104)5,896 9(2,281)16,319 
Asset-backed securities— — (2,310)12,796 2(2,310)12,796 
Total held-to-maturity$(1,177)$10,423 $(3,414)$18,692 11$(4,591)$29,115