Securities Available for Sale (Tables)

3 Months Ended

Mar. 31, 2021

Securities Available for Sale [Abstract]

Amortized Cost and Fair Values of Investment in Securities Available for Sale

The amortized cost and fair values of the Company’s investment in securities available for sale follow:

	March 31, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(In Thousands)
Mortgage-backed securities	$	23,862	$	868	$	(152	)	$	24,578
Collateralized mortgage obligations:
Government sponsored enterprise issued		67,447		1,428		(460	)		68,415
Private -label issued		3,081		49		-			3,130
Mortgage-related securities		94,390		2,345		(612	)		96,123
Government sponsored enterprise bonds		2,500		-		(32	)		2,468
Municipal securities		50,574		1,683		(16	)		52,241
Other debt securities		12,500		24		(1,093	)		11,431
Debt securities		65,574		1,707		(1,141	)		66,140
	$	159,964	$	4,052	$	(1,753	)	$	162,263

	December 31, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
	(In Thousands)
Mortgage-backed securities	$	24,005	$	1,110	$	(15	)	$	25,100
Collateralized mortgage obligations:
Government sponsored enterprise issued		61,604		1,693		(13	)		63,284
Private label issued		3,611		54		-			3,665
Mortgage-related securities		89,220		2,857		(28	)		92,049
Government sponsered enterprise bonds		2,500		3		-			2,503
Municipal securities		51,512		2,102		-			53,614
Other debt securities		12,500		46		(1,093	)		11,453
Debt securities		66,512		2,151		(1,093	)		67,570
	$	155,732	$	5,008	$	(1,121	)	$	159,619

Amortized Cost and Fair Values of Investment Securities by Contractual Maturity

The amortized cost and fair values of investment securities by contractual maturity at March 31, 2021 are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(In Thousands)
Debt and other securities
Due within one year	$	9,390	$	9,456
Due after one year through five years		33,922		34,913
Due after five years through ten years		17,143		16,649
Due after ten years		5,119		5,122
Mortgage-related securities		94,390		96,123
	$	159,964	$	162,263

Total Proceeds and Gross Gains and Losses from Sales of Investment Securities Available for Sale

Gross unrealized losses on securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows:

	March 31, 2021
	Less than 12 months					12 months or longer					Total
	Fair value		Unrealized loss			Fair value		Unrealized loss			Fair value		Unrealized loss
	(In Thousands)
Mortgage-backed securities	$	4,308	$	(152	)	$	-	$	-		$	4,308	$	(152	)
Collateralized mortgage obligations:
Government sponsored enterprise issued		19,956		(460	)		-		-			19,956		(460	)
Government sponsored enterprise bonds		2,468		(32	)		-		-			2,468		(32	)
Municipal securities		3,171		(16	)		-		-			3,171		(16	)
Other debt securities		-		-			8,907		(1,093	)		8,907		(1,093	)
	$	29,903	$	(660	)	$	8,907	$	(1,093	)	$	38,810	$	(1,753	)

	December 31, 2020
	Less than 12 months					12 months or longer					Total
	Fair value		Unrealized loss			Fair value		Unrealized loss			Fair value		Unrealized loss
	(In Thousands)
Mortgage-backed securities	$	2,089	$	(15	)	$	-	$	-		$	2,089	$	(15	)
Collateralized mortgage obligations:
Government sponsored enterprise issued		4,880		(13	)		-		-			4,880		(13	)
Municipal securities		-		-			-		-			-		-
Other debt securities		-		-			8,907		(1,093	)		8,907		(1,093	)
	$	6,969	$	(28	)	$	8,907	$	(1,093	)	$	15,876	$	(1,121	)