v3.25.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains and losses, and fair values of equity and trading investment securities
The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at March 31, 2025 and December 31, 2024 are as follows, no allowance for credit losses required on any category on investments for either period presented:
 March 31, 2025
  GrossGross 
 AmortizedUnrealizedUnrealizedFair
(In Thousands)CostGainsLossesValue
Available for sale (AFS):    
U.S. Government and agency securities$2,000 $— $(19)$1,981 
Mortgage-backed securities37,645 360 (271)37,734 
State and political securities101,036 148 (3,141)98,043 
Other debt securities38,536 487 (1,060)37,963 
Total debt securities$179,217 $995 $(4,491)$175,721 
Investment equity securities:
Equity securities$1,300 $— $(172)$1,128 
 December 31, 2024
  GrossGross 
 AmortizedUnrealizedUnrealizedFair
(In Thousands)CostGainsLossesValue
Available for sale (AFS):    
U.S. Government and agency securities$2,000 $— $(40)$1,960 
Mortgage-backed securities38,795 127 (565)38,357 
State and political securities104,992 48 (4,416)100,624 
Other debt securities44,536 684 (1,619)43,601 
Total debt securities$190,323 $859 $(6,640)$184,542 
Investment equity securities:
Equity securities$1,300 $— $(189)$1,111 
Schedule of gross unrealized losses and fair value
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at March 31, 2025 and December 31, 2024.
 March 31, 2025
 Less than Twelve MonthsTwelve Months or GreaterTotal
  Gross Gross Gross
 FairUnrealizedFairUnrealizedFairUnrealized
(In Thousands)ValueLossesValueLossesValueLosses
Available for sale (AFS):
U.S. Government and agency securities$998 $(2)$983 $(17)$1,981 $(19)
Mortgage-backed securities13,266 (109)3,334 (162)16,600 (271)
State and political securities14,858 (290)70,060 (2,851)84,918 (3,141)
Other debt securities3,997 (18)17,309 (1,042)21,306 (1,060)
Total debt securities$33,119 $(419)$91,686 $(4,072)$124,805 $(4,491)
 December 31, 2024
 Less than Twelve MonthsTwelve Months or GreaterTotal
  Gross Gross Gross
 FairUnrealizedFairUnrealizedFairUnrealized
(In Thousands)ValueLossesValueLossesValueLosses
Available for sale (AFS):
U.S. Government and agency securities$988 $(12)$972 $(28)$1,960 $(40)
Mortgage-backed securities21,988 (391)1,640 (174)23,628 (565)
State and political securities22,249 (598)74,096 (3,818)96,345 (4,416)
Other debt securities2,716 (65)23,014 (1,554)25,730 (1,619)
Total debt securities$47,941 $(1,066)$99,722 $(5,574)$147,663 $(6,640)
Schedule of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at March 31, 2025, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In Thousands)Amortized CostFair Value
Due in one year or less$19,809 $19,648 
Due after one year to five years69,036 67,440 
Due after five years to ten years68,230 66,751 
Due after ten years22,142 21,882 
Total$179,217 $175,721 
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses from the sales of debt securities available for sale:
 Three Months Ended March 31,
(In Thousands)20252024
Available for sale (AFS):
Gross realized gains:  
State and political securities$— $— 
Other debt securities416 — 
Total gross realized gains$416 $— 
Gross realized losses:  
State and political securities$(111)$(23)
Other debt securities— — 
Total gross realized losses$(111)$(23)
Schedule of unrealized and realized gains and losses recognized in net income The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
(In Thousands)20252024
Net gains (losses) recognized in equity securities during the period$17 $(10)
Less: Net losses realized on the sale of equity securities during the period— — 
Unrealized gains (losses) recognized in equity securities held at reporting date$17 $(10)