XML 32 R22.htm IDEA: XBRL DOCUMENT v3.23.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2023
Securities [Abstract]  
Available-for-Sale Investment Securities Portfolios

The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the dates indicated and the corresponding amounts of unrealized gains and losses which were recognized in accumulated other comprehensive income (loss):
   
Amortized
Cost
    
Gross
Unrealized Gains
    
Gross
Unrealized Losses
    
Fair
Value
  
   
(In thousands)
  
March 31, 2023:
      
Federal agency mortgage-backed securities
  
$
82,834
    
$
2
    
$
(9,819
)
  
$
73,017
  
Federal agency collateralized mortgage obligations (“CMO”)
     27,077       –       (1,328 )     25,749  
Federal agency debt
    
55,734
      
–
      
(3,704
)
    
52,030
  
Municipal bonds
    
4,858
      
–
      
(559
)
    
4,299
  
U.S. Treasuries
    
166,255
      
–
      
(4,159
)
    
162,096
  
SBA pools
    
13,415
      
9
      
(1,589
)
    
11,835
  
Total available-for-sale securities
  
$
350,173
    
$
11
    
$
(21,158
)
  
$
329,026
  
December 31, 2022:
  
 
Federal agency mortgage-backed securities
  
$
84,955
    
$
2
    
$
(10,788
)
  
$
74,169
  
Federal agency CMOs
     27,776       –       (1,676 )     26,100  
Federal agency debt
    
55,687
      
26
      
(4,288
)
    
51,425
  
Municipal bonds
    
4,866
      
–
      
(669
)
    
4,197
  
U.S. Treasuries
     165,997       –       (5,408 )     160,589  
SBA pools
     14,048       9       (1,788 )     12,269  
Total available-for-sale securities
  
$
353,329
    
$
37
    
$
(24,617
)
  
$
328,749
  
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity

The amortized cost and estimated fair value of all investment securities available-for-sale at March 31, 2023, by contractual maturities are shown below.  Contractual maturities may differ from expected maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


   
Amortized
Cost
    
Gross
Unrealized Gains
    
Gross
Unrealized Losses
    
Fair
Value
  
   
(In thousands)
  
Due in one year or less
  
$
24,876
    
$
–
    
$
(493
)
  
$
24,383
  
Due after one year through five years
    
194,958
      
–
      
(6,682
)
    
188,276
  
Due after five years through ten years
    
35,270
      
–
      
(2,839
)
    
32,431
  
Due after ten years (1)
    
95,069
      
11
      
(11,144
)
    
83,936
  
   
$
350,173
    
$
11
    
$
(21,158
)
  
$
329,026
  

(1)
Mortgage-backed securities, collateralized mortgage obligations and SBA pools do not have a single stated maturity date and therefore have been included in the “Due after ten years” category.
Securities in Continuous Unrealized Loss Position

The table below indicates the length of time individual securities had been in a continuous unrealized loss position:

   
Less than 12 Months
    
12 Months or Longer
    
Total
  
   
Fair
Value
    
Unrealized
Losses
    
Fair
Value
    
Unrealized
Losses
    
Fair
Value
    
Unrealized
Losses
  
   
(In thousands)
  
March 31, 2023:
                                    
Federal agency mortgage-backed securities
  
$
13,826
    
$
(562
)
  
$
58,935
    
$
(9,257
)
  
$
72,761
    
$
(9,819
)
Federal agency CMOs
    
20,691
      
(663
)
    
5,058
      
(665
)
    
25,749
      
(1,328
)
Federal agency debt
    
23,548
      
(580
)
    
28,482
      
(3,124
)
    
52,030
      
(3,704
)
Municipal bonds
    
–
      
–
      
4,299
      
(559
)
    
4,299
      
(559
)
U. S. Treasuries
    
135,522
      
(2,615
)
    
26,574
      
(1,544
)
    
162,096
      
(4,159
)
SBA pools
    
–
      
–
      
10,106
      
(1,589
)
    
10,106
      
(1,589
)
Total unrealized loss position investment securities
  
$
193,587
    
$
(4,420
)
  
$
133,454
    
$
(16,738
)
  
$
327,041
    
$
(21,158
)
                                                 
December 31, 2022:
                                                
Federal agency mortgage-backed securities
  
$
38,380
    
$
(4,807
)
  
$
35,526
    
$
(5,981
)
  
$
73,906
    
$
(10,788
)
Federal agency CMOs
    20,997       (885 )     5,103       (791 )     26,100       (1,676 )
Federal agency debt
    
26,383
      
(1,529
)
    
21,956
      
(2,759
)
    
48,339
      
(4,288
)
Municipal bonds
    
2,176
      
(315
)
    
2,021
      
(354
)
    
4,197
      
(669
)
U. S. Treasuries
    
143,989
      
(3,884
)
    
16,600
      
(1,524
)
    
160,589
      
(5,408
)
SBA pools
    3,743       (365 )     6,763       (1,423 )     10,506       (1,788 )
Total unrealized loss position investment securities
  
$
235,668
    
$
(11,785
)
  
$
87,969
    
$
(12,832
)
  
$
323,637
    
$
(24,617
)