Securities (Tables)
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6 Months Ended |
Jun. 30, 2024 |
Securities [Abstract] |
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Schedule of Amortized Cost Gross Unrealized Gains and Losses, and Fair Values of Securities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | | | | Gross | | Gross | | | Allowance | | | | | Amortized | | Unrealized | | Unrealized | | | for Credit | | Fair | | Cost | | Gains | | Losses | | | Losses | | Value | | (In Thousands) | Available for Sale: | | | | | | | | | | | | | | | U.S. Treasury securities | $ | 41,257 | | $ | - | | $ | (2,342) | | $ | - | | $ | 38,915 | U.S. Government agencies | | 27,551 | | | 21 | | | (2,628) | | | - | | | 24,944 | States and political subdivisions | | 150,525 | | | - | | | (23,877) | | | - | | | 126,648 | Mortgage-backed securities- | | | | | | | | | | | | | | | government sponsored entities | | 241,933 | | | - | | | (34,862) | | | - | | | 207,071 | Total debt securities | $ | 461,266 | | $ | 21 | | $ | (63,709) | | $ | - | | $ | 397,578 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | | | | Gross | | Gross | | | Allowance | | | | | Amortized | | Unrealized | | Unrealized | | | for Credit | Fair | | Cost | | Gains | | Losses | | | Losses | Value | | (In Thousands) | Available for Sale: | | | | | | | | | | | | | | | U.S. Treasury securities | $ | 55,968 | | $ | 14 | | $ | (2,382) | | $ | - | | $ | 53,600 | U.S. Government agencies | | 18,486 | | | - | | | (2,490) | | | - | | | 15,996 | States and political subdivisions | | 151,764 | | | - | | | (22,285) | | | - | | | 129,479 | Mortgage-backed securities-government | | | | | | | | | | | | | | | sponsored entities | | 240,600 | | | - | | | (33,416) | | | - | | | 207,184 | Total debt securities | $ | 466,818 | | $ | 14 | | $ | (60,573) | | $ | - | | $ | 406,259 |
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Schedule of Investments' Gross Unrealized Losses and Fair Value Aggregated by Security Type and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2024 | | Less than 12 Months | | 12 Months or More | | Total | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities | $ | - | | $ | - | | $ | 34,929 | | $ | (2,342) | | $ | 34,929 | | $ | (2,342) | U.S. Government agencies | | 5,979 | | | (24) | | | 15,943 | | | (2,604) | | | 21,922 | | | (2,628) | States and political subdivisions | | 536 | | | (14) | | | 124,897 | | | (23,863) | | | 125,433 | | | (23,877) | Mortgage-backed securities-government sponsored entities | | 14,375 | | | (128) | | | 192,696 | | | (34,734) | | | 207,071 | | | (34,862) | | $ | 20,890 | | $ | (166) | | $ | 368,465 | | $ | (63,543) | | $ | 389,355 | | $ | (63,709) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | Less than 12 Months | | 12 Months or More | | Total | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | U.S. Treasury securities | $ | - | | $ | - | | $ | 40,833 | | $ | (2,382) | | $ | 40,833 | | $ | (2,382) | U.S. Government agencies | | - | | | - | | | 15,996 | | | (2,490) | | | 15,996 | | | (2,490) | States and political subdivisions | | 2,261 | | | (12) | | | 125,452 | | | (22,273) | | | 127,713 | | | (22,285) | Mortgage-backed securities-government sponsored entities | | - | | | - | | | 207,184 | | | (33,416) | | | 207,184 | | | (33,416) | | $ | 2,261 | | $ | (12) | | $ | 389,465 | | $ | (60,561) | | $ | 391,726 | | $ | (60,573) |
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Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity |
| | | | | | | Available for Sale | | Amortized Cost | | Fair Value | | | (In Thousands) | Due in one year or less | $ | 23,400 | | $ | 23,141 | Due after one year through five years | | 39,178 | | | 36,130 | Due after five years through ten years | | 76,727 | | | 63,253 | Due after ten years | | 80,028 | | | 67,983 | | | 219,333 | | | 190,507 | Mortgage-backed securities-government sponsored entities | | 241,933 | | | 207,071 | | $ | 461,266 | | $ | 397,578 |
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Gross Realized Gains and Losses on Sales of Securities Available-for-Sale |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months | | Six Months | | Ended June 30, | | Ended June 30, | | 2024 | | 2023 | | 2024 | | 2023 | Gross realized gains | $ | — | | $ | — | | $ | — | | $ | 4 | Gross realized losses | | — | | | (212) | | | — | | | (213) | Net realized gains (losses) | $ | — | | $ | (212) | | $ | — | | $ | (209) | Proceeds from sales of securities | $ | — | | $ | 1,363 | | $ | — | | $ | 3,345 |
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