SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

The amortized cost and fair value of investment securities were as follows:


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Available for Sale
U.S. government and agency securities	$	433,417	$	90	$	(19,227)	$	414,280
Municipal securities	580,076		4,319		(43,826)		540,569
Agency mortgage-backed pass-through securities	370,471		362		(42,032)		328,801
Agency collateralized mortgage obligations	461,760		—		(67,630)		394,130
Corporate bonds and other	143,192		2		(13,388)		129,806
Total	$	1,988,916	$	4,773	$	(186,103)	$	1,807,586


	December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Available for Sale
U.S. government and agency securities	$	401,811	$	414	$	(1,674)	$	400,551
Municipal securities	468,164		30,483		(1,547)		497,100
Agency mortgage-backed pass-through securities	307,097		2,075		(6,576)		302,596
Agency collateralized mortgage obligations	443,277		2,026		(4,247)		441,056
Corporate bonds and other	130,314		2,922		(774)		132,462
Total	$	1,750,663	$	37,920	$	(14,818)	$	1,773,765

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of investment securities at December 31, 2022, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations at any time with or without call or prepayment penalties.


	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	77,489	$	74,812
Due after one year through five years	198,574		185,719
Due after five years through ten years	173,570		163,209
Due after ten years	707,052		660,915
Subtotal	1,156,685		1,084,655
Agency mortgage-backed pass through securities and collateralized mortgage obligations	832,231		722,931
Total	$	1,988,916	$	1,807,586

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

Securities with unrealized losses segregated by length of time such securities have been in a continuous loss position are as follows:


	December 31, 2022
	Less than 12 Months				More than 12 Months				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
	(In thousands)
Available for Sale
U.S. government and agency securities	$	99,732	$	(1,427)	$	305,256	$	(17,800)	$	404,988	$	(19,227)
Municipal securities	228,192		(14,473)		134,640		(29,353)		362,832		(43,826)
Agency mortgage-backed pass-through securities	95,291		(7,612)		199,836		(34,420)		295,127		(42,032)
Agency collateralized mortgage obligations	117,147		(14,426)		276,925		(53,204)		394,072		(67,630)
Corporate bonds and other	72,913		(5,704)		49,893		(7,684)		122,806		(13,388)
Total	$	613,275	$	(43,642)	$	966,550	$	(142,461)	$	1,579,825	$	(186,103)


	December 31, 2021
	Less than 12 Months				More than 12 Months				Total
	Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses		Estimated Fair Value		Unrealized Losses
	(In thousands)
Available for Sale
U.S. government and agency securities	$	340,161	$	(1,674)	$	—	$	—	$	340,161	$	(1,674)
Municipal securities	70,019		(1,185)		10,435		(362)		80,454		(1,547)
Agency mortgage-backed pass-through securities	219,610		(5,675)		21,627		(901)		241,237		(6,576)
Agency collateralized mortgage obligations	328,300		(3,994)		13,820		(253)		342,120		(4,247)
Corporate bonds and other	38,210		(774)		—		—		38,210		(774)
Total	$	996,300	$	(13,302)	$	45,882	$	(1,516)	$	1,042,182	$	(14,818)