Securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019:

	June 30, 2020								December 31, 2019
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Estimated		Amortized		unrealized		unrealized		Estimated
(In thousands)	cost		gains		losses		fair value		cost		gains		losses		fair value
Available for sale:
U.S. Government sponsored entities	$	2,749	$	23	$	—	$	2,772	$	5,751	$	4	$	(2)	$	5,753
State and political subdivisions		3,320		24		(10)		3,334		4,992		174		(12)		5,154
Residential mortgage-backed securities		21,463		916		(6)		22,373		27,698		372		(106)		27,964
Corporate and other securities		24,756		174		(307)		24,623		25,442		230		(268)		25,404
Total debt securities available for sale	$	52,288	$	1,137	$	(323)	$	53,102	$	63,883	$	780	$	(388)	$	64,275
Equity securities:
Total equity securities	$	2,112	$	—	$	(326)	$	1,786	$	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 June 30, 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.

					After one through				After five through								Total carrying
	Within one year				five years				ten years				After ten years				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	$	2,772	1.57	%	$	—	—	%	$	—	—	%	$	—	—	%	$	2,772	1.57	%
State and political subdivisions		1,146	1.48			884	3.29			502	5.06			802	2.74			3,334	2.80
Residential mortgage-backed securities		1	4.48			278	2.37			2,202	2.48			19,892	2.63			22,373	2.61
Corporate and other securities		—	—			1,611	3.00			17,769	4.48			5,243	4.38			24,623	4.36
Total debt securities available for sale	$	3,919	1.54	%	$	2,773	3.03	%	$	20,473	4.28	%	$	25,937	2.99	%	$	53,102	3.38	%
Equity Securities at fair value:
Total equity securities	$	—	—	%	$	—	—	%	$	—	—	%	$	1,786	2.58	%	$	1,786	2.58	%

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 June 30, 2020 and December 31, 2019 are as follows:

	June 30, 2020
		Less than 12 months				12 months and greater				Total
	Total
	number in a	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands, except number in a loss position)	loss position	fair value		loss		fair value		loss		fair value		loss
Available for sale:
State and political subdivisions	1	$	—	$	—	$	802	$	(10)	$	802	$	(10)
Residential mortgage-backed securities	3		996		(6)		402		—		1,398		(6)
Corporate and other securities	8		6,277		(76)		3,759		(231)		10,036		(307)
Total temporarily impaired securities	12	$	7,273	$	(82)	$	4,963	$	(241)	$	12,236	$	(323)

	December 31, 2019
		Less than 12 months				12 months and greater				Total
	Total
	number in a	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands, except number in a loss position)	loss position	fair value		loss		fair value		loss		fair value		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 and six months ended June 30, 2020 and 2019 are detailed in the table below:

	For the three months ended June 30,				For the six months ended June 30,
(In thousands)	2020		2019		2020		2019
Available for sale:
Realized gains	$	5	$	—	$	301	$	—
Realized losses		—		—		—		—
Total debt securities available for sale		5		—		301		—
Net gains on sales of securities	$	5	$	—	$	301	$	—

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 and six months ended June 30, 2020 and 2019:

	For the three months ended June 30,				For the six months ended June 30,
(In thousands)	2020		2019		2020		2019
Net gains (losses) recognized during the period on equity securities	$	74	$	98	$	(397)	$	198
Net gains recognized during the period on equity securities sold during the period		—		—		5		—
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	74	$	98	$	(392)	$	198