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Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Marketable Securities [Abstract]  
Reconciliation from Amortized Cost to Estimated Fair Value of Marketable Securities
This table provides the major components of debt securities available for sale ("AFS") and equity securities with readily determinable fair values ("equity securities") at amortized cost and estimated fair value at March 31, 2020 and December 31, 2019:
 
 
March 31, 2020
 
December 31, 2019
(In thousands)
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
$
5,749

 
$
32

 
$
—

 
$
5,781

 
$
5,751

 
$
4

 
$
(2
)
 
$
5,753

State and political subdivisions
 
3,581

 
7

 
(149
)
 
3,439

 
4,992

 
174

 
(12
)
 
5,154

Residential mortgage-backed securities
 
23,293

 
639

 
(82
)
 
23,850

 
27,698

 
372

 
(106
)
 
27,964

Corporate and other securities
 
23,271

 
235

 
(286
)
 
23,220

 
25,442

 
230

 
(268
)
 
25,404

Total debt securities available for sale
 
$
55,894

 
$
913

 
$
(517
)
 
$
56,290

 
$
63,883

 
$
780

 
$
(388
)
 
$
64,275

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity securities
 
$
2,112

 
$
—

 
$
(400
)
 
$
1,712

 
$
2,218

 
$
142

 
$
(71
)
 
$
2,289
Schedule of Marketable Securities by Contractual Maturity
This table provides the remaining contractual maturities and yields of securities within the investment portfolios.  The carrying value of securities at March 31, 2020 is distributed by contractual maturity.  Mortgage-backed securities and other securities, which may have principal prepayment provisions, are distributed based on contractual maturity.  Expected maturities will differ materially from contractual maturities as a result of early prepayments and calls.
 
 
Within one year
 
After one through five years
 
After five through ten years
 
After ten years
 
Total carrying value
(In thousands, except percentages)
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
Available for sale at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities  
 
$
3,776

 
1.61
%
 
$
2,005

 
2.16
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
5,781

 
1.80
%
State and political subdivisions    
 
195

 
3.80
 
600

 
3.92

 
1,748

 
3.16

 
896

 
2.74

 
3,439

 
3.22

Residential mortgage-backed securities    
 
2

 
4.76
 
322

 
2.35

 
2,331

 
2.48

 
21,195

 
2.80

 
23,850

 
2.76

Corporate and other securities
 
—

 
—
 
1,610

 
3.49

 
16,371

 
4.77

 
5,239

 
4.87

 
23,220

 
4.70

Total debt securities available for sale
 
$
3,973

 
1.72
%
 
$
4,537

 
2.88
%
 
$
20,450

 
4.37
%
 
$
27,330

 
3.19
%
 
$
56,290

 
3.49
%
Equity Securities at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity securities
 
$
—

 
—
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
1,712

 
2.72
%
 
$
1,712

 
2.72
%
Schedule of Marketable Securities in Unrealized Loss Position
The fair value of securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2020 and December 31, 2019 are as follows:
 
 
March 31, 2020
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
 
3

 
$
1,246

 
$
(109
)
 
$
896

 
$
(40
)
 
$
2,142

 
$
(149
)
Residential mortgage-backed securities
 
7

 
2,526

 
(12
)
 
3,042

 
(70
)
 
5,568

 
(82
)
Corporate and other securities
 
6

 
3,311

 
(55
)
 
3,758

 
(231
)
 
7,069

 
(286
)
Total temporarily impaired securities
 
16

 
$
7,083

 
$
(176
)
 
$
7,696

 
$
(341
)
 
$
14,779

 
$
(517
)

 
 
December 31, 2019
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
1

 
$
—

 
$
—

 
$
1,995

 
$
(2
)
 
$
1,995

 
$
(2
)
State and political subdivisions
 
1

 
—

 
—

 
1,013

 
(12
)
 
1,013

 
(12
)
Residential mortgage-backed securities
 
10

 
3,707

 
(27
)
 
4,996

 
(79
)
 
8,703

 
(106
)
Corporate and other securities
 
6

 
3,366

 
(13
)
 
3,735

 
(255
)
 
7,101

 
(268
)
Total temporarily impaired securities
 
18

 
$
7,073

 
$
(40
)
 
$
11,739

 
$
(348
)
 
$
18,812

 
$
(388
)
Schedule of Realized Gain (Loss)
Gross realized gains and losses on securities for the three months ended March 31, 2020 and 2019 are detailed in the table below:  
 
 
For the three months ended March 31,
(In thousands)
 
2020
 
2019
Available for sale:
 
 
 
 
Realized gains
 
$
296

 
$
—

Realized losses
 
—

 
—

Total debt securities available for sale
 
296

 
—

Net gains on sales of securities
 
$
296

 
$
—
Equity Securities, Gains and Losses
The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2020 and 2019:
 
 
For the three months ended March 31,
(In thousands)
 
2020
 
2019
Net (losses) gains recognized during the period on equity securities
 
$
(471
)
 
$
100

Net gains recognized during the period on equity securities sold during the period
 
5

 
—

Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date
 
$
(466
)
 
$
100