Securities (Tables)

3 Months Ended

Mar. 31, 2025

Securities

Reconciliation From Amortized Cost to Estimated Fair Value of Marketable Securities

	March 31, 2025
			Gross		Gross
	Amortized		unrealized		unrealized			Valuation	Estimated
(In thousands)	cost		gains		losses			Allowance	fair value
Available for sale:
U.S. Government sponsored entities	$	15,000	$	—	$	(147)	$	—	$	14,853
State and political subdivisions		355		—		(25)		—		330
Residential mortgage-backed securities		13,560		28		(1,272)		—		12,316
Asset backed securities		35,250		37		(12)		—		35,275
Corporate and other securities		30,652		180		(1,609)		(1,559)		27,664
Total debt securities available for sale	$	94,817	$	245	$	(3,065)	$	(1,559)	$	90,438
Held to maturity:
U.S. Government sponsored entities	$	28,000	$	—	$	(4,153)	$	—	$	23,847
State and political subdivisions		1,250		31		—		—		1,281
Residential mortgage-backed securities		11,697		2		(2,369)		—		9,330
Total debt securities held to maturity	$	40,947	$	33	$	(6,522)	$	—	$	34,458

	December 31, 2024
			Gross		Gross
	Amortized		unrealized		unrealized			Valuation	Estimated
(In thousands)	cost		gains		losses			Allowance	fair value
Available for sale:
U.S. Government sponsored entities	$	15,000	$	—	$	(241)	$	—	$	14,759
State and political subdivisions		357		—		(24)		—		333
Residential mortgage-backed securities		13,814		27		(1,555)		—		12,286
Asset backed securities		39,300		94		(2)		—		39,392
Corporate and other securities		31,741		165		(1,968)		(2,824)		27,114
Total debt securities available for sale	$	100,212	$	286	$	(3,790)	$	(2,824)	$	93,884
Held to maturity:
U.S. Government sponsored entities	$	28,000	$	—	$	(4,932)	$	—	$	23,068
State and political subdivisions		1,234		59		—		—		1,293
Residential mortgage-backed securities		12,060		—		(2,607)		—		9,453
Total debt securities held to maturity	$	41,294	$	59	$	(7,539)	$	—	$	33,814

Schedule of Marketable Securities By Contractual Maturity

		Amortized		Fair
(In thousands)		Cost		Value
Available for sale:
Due in one year	$	3,285	$	3,272
Due after one year through five years		30,200		27,930
Due after five years through ten years		26,582		25,741
Due after ten years		21,190		21,179
Residential mortgage-backed securities		13,560		12,316
Total	$	94,817	$	90,438
Held to maturity:
Due in one year	$	—	$	—
Due after one year through five years		3,000		2,964
Due after five years through ten years		—		—
Due after ten years		26,250		22,164
Residential mortgage-backed securities		11,697		9,330
Total	$	40,947	$	34,458

Schedule of Marketable Securities In Unrealized Loss Position

	March 31, 2025
	Less than 12 months				12 months and greater				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands)	fair value		loss		fair value		loss		fair value		loss
Available for sale:
U.S. Government sponsored entities	$	—	$	—	$	14,853	$	(147)	$	14,853	$	(147)
State and political subdivisions		—		—		330		(25)		330		(25)
Residential mortgage-backed securities		—		—		12,180		(1,272)		12,180		(1,272)
Asset backed securities		14,738		(11)		3,000		(1)		17,738		(12)
Corporate and other securities		—		—		12,448		(1,609)		12,448		(1,609)
Total	$	14,738	$	(11)	$	42,811	$	(3,054)	$	57,549	$	(3,065)
Held to maturity:
U.S. Government sponsored entities	$	—	$	—	$	23,847	$	(4,153)	$	23,847	$	(4,153)
Residential mortgage-backed securities		—	$	—		4,745		(2,369)		4,745		(2,369)
Total	$	—	$	—	$	28,592	$	(6,522)	$	28,592	$	(6,522)

	December 31, 2024
	Less than 12 months				12 months and greater				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands)	fair value		loss		fair value		loss		fair value		loss
Available for sale:
U.S. Government sponsored entities	$	—	$	—	$	14,759	$	(241)	$	14,759	$	(241)
State and political subdivisions		—		—		333		(24)		333		(24)
Residential mortgage-backed securities		8		(1)		12,145		(1,554)		12,153		(1,555)
Asset backed securities		3,998		(1)		3,000		(1)		6,998		(2)
Corporate and other securities		—		—		14,609		(1,968)		14,609		(1,968)
Total temporarily impaired AFS securities	$	4,006	$	(2)	$	44,846	$	(3,788)	$	48,852	$	(3,790)
Held to maturity:
U.S. Government sponsored entities	$	—	$	—	$	23,068	$	(4,932)	$	23,068	$	(4,932)
Residential mortgage-backed securities		—		—		4,453		(2,607)		4,453		(2,607)
Total temporarily impaired HTM securities	$	—	$	—	$	27,521	$	(7,539)	$	27,521	$	(7,539)

Equity Securities, Gains and Losses

	For the three months ended March 31,
(In thousands)	2025		2024
Net unrealized (losses) gains occurring during the period on equity securities	$	(34)	$	33
Net (losses) gains recognized during the period on equity securities sold during the period		(12)		21
(Losses) gains recognized during the reporting period on equity securities	$	(46)	$	54