Investment Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of amortized cost and estimated fair value

The following summarizes the amortized cost and fair value of securities available-for-sale at June 30, 2023 and December 31, 2022 with gross unrealized gains and losses therein:

	June 30, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
Available -for-sale	(In thousands)
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	42,035	$	6	$	(6,502	)	$	35,539
U.S. government agency securities		6,260		—		(1,079	)		5,181
Obligations of state and political subdivisions		44,311		6		(3,779	)		40,538
Small Business Association (SBA) securities		3,362		1		—			3,363
Subordinated debentures		450		—		—			450
Small business investment company securities		2,684		—		(583	)		2,101
Total	$	99,102	$	13	$	(11,943	)	$	87,172

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
Available -for-sale	(In thousands)
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	41,515	$	2	$	(6,602	)	$	34,915
U.S. government agency securities		6,260		—		(1,175	)		5,085
Obligations of state and political subdivisions		45,161		8		(3,828	)		41,341
Small business investment company securities		2,061		—		—			2,061
Total	$	94,997	$	10	$	(11,605	)	$	83,402

Summary of fair value of related securities available-for-sale

The unrealized losses, categorized by the length of time of continuous loss position, and the fair value of related securities available-for-sale at June 30, 2023 and December 31, 2022 are as follows:

	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
June 30, 2023	(In thousands)
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	1,713	$	(77	)	$	31,480	$	(6,425	)	$	33,193	$	(6,502	)
U.S. government agency securities		—	$	—			5,181		(1,079	)		5,181		(1,079	)
Obligations of state and political subdivisions		12,409		(367	)		23,814		(3,412	)		36,223		(3,779	)
Small business investment company securities		2,101		(583	)		—		—			2,101		(583	)
Total	$	16,223	$	(1,027	)	$	60,475	$	(10,916	)	$	76,698	$	(11,943	)

	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
December 31, 2022	(In thousands)
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	15,605	$	(1,778	)	$	19,137	$	(4,824	)	$	34,742	$	(6,602	)
U.S. government agency securities		—		—			5,085		(1,175	)		5,085		(1,175	)
Obligations of state and political subdivisions		36,421		(3,457	)		1,352		(371	)		37,773		(3,828	)
	$	52,026	$	(5,235	)	$	25,574	$	(6,370	)	$	77,600	$	(11,605	)

Summary of securities available-for-sale by contractual maturity

The amortized cost and fair value of securities available-for-sale at June 30, 2023 by contractual maturity are shown below. Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties:

	Amortized
	Cost		Fair Value
	(In thousands)
Due in one year or less	$	150	$	150
Due after one year through five years		4,987		4,876
Due after five years through ten years		26,903		24,914
Due after ten years		18,531		15,779
Mortgage-backed securities (GSEs)		42,035		35,539
Small Business Association (SBA) securities		3,362		3,363
Subordinated debentures		450		450
SBIC securities		2,684		2,101
	$	99,102	$	87,172