Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:

	(In Thousands)
	2023
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Available-for-Sale:
U.S. Treasury	$	87,182	$	1	$	(6,913	)	$	80,270
U.S. Government agencies		140,960		-		(12,738	)		128,222
Mortgage-backed securities		94,061		-		(11,929	)		82,132
State and local governments		73,000		135		(5,281	)		67,854
Total available-for-sale securities	$	395,203	$	136	$	(36,861	)	$	358,478

	(In Thousands)
	2022
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Available-for-Sale:
U.S. Treasury	$	104,507	$	-	$	(9,829	)	$	94,678
U.S. Government agencies		156,817		-		(17,050	)		139,767
Mortgage-backed securities		101,068		-		(14,141	)		86,927
State and local governments		76,794		69		(7,446	)		69,417
Total available-for-sale securities	$	439,186	$	69	$	(48,466	)	$	390,789

Gross Unrealized Losses, Aggregated by Investment Category and Length of Time

Information pertaining to securities with gross unrealized losses at December 31, 2023 and 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

	2023
	(In Thousands)					(In Thousands)
	Less Than Twelve Months					Twelve Months & Over
	Gross					Gross
	Unrealized			Fair		Unrealized			Fair
	Losses			Value		Losses			Value
U.S. Treasury	$	(4	)	$	494	$	(6,909	)	$	79,528
U.S. Government agencies		-			-		(12,738	)		128,222
Mortgage-backed securities		(20	)		4,372		(11,909	)		77,759
State and local governments		(2	)		931		(5,279	)		60,402
Total available-for-sales securities	$	(26	)	$	5,797	$	(36,835	)	$	345,911

	2022
	(In Thousands)					(In Thousands)
	Less Than Twelve Months					Twelve Months & Over
	Gross					Gross
	Unrealized			Fair		Unrealized			Fair
	Losses			Value		Losses			Value
U.S. Treasury	$	(207	)	$	9,121	$	(9,622	)	$	85,557
U.S. Government agencies		(1,081	)		24,560		(15,969	)		114,906
Mortgage-backed securities		(2,454	)		26,905		(11,687	)		60,022
State and local governments		(3,223	)		38,771		(4,223	)		25,610
Total available-for-sales securities	$	(6,965	)	$	99,357	$	(41,501	)	$	286,095

Gross Realized Gains and Losses

gross realized gains and losses for the years ended December 31, as presented below:

	(In Thousands)
	2023			2022		2021
Gross realized gains	$	-		$	-	$	293
Gross realized losses		(891	)		-		-
Net realized gains (losses)	$	(891	)	$	-	$	293
Tax expense (benefit) related to net realized gains (losses)	$	(187	)	$	-	$	62

Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and fair value of debt securities at December 31, 2023, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	(In Thousands)
	Amortized
	Cost		Fair Value
One year or less	$	24,878	$	24,274
After one year through five years		244,319		223,135
After five years through ten years		31,945		28,937
After ten years		-		-
Total	$	301,142	$	276,346
Mortgage-backed securities		94,061		82,132
Total	$	395,203	$	358,478