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Investments (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities
The following table summarizes the cost and estimated fair values of the Company's investment in equity securities, FHLBB stock and FRBB stock as presented within other investments on the consolidated statements of condition, as of the dates indicated:
(In thousands)
 
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value /
Carrying Value
December 31, 2019
 
 

 
 

 
 

 
 

Equity securities - bank stock (carried at fair value)
 
$
544

 
$
1,130

 
$
—

 
$
1,674

FHLBB (carried at cost)
 
6,601

 
—

 
—

 
6,601

FRB (carried at cost)
 
5,374

 
—

 
—

 
5,374

Total other investments
 
$
12,519

 
$
1,130

 
$
—

 
$
13,649

December 31, 2018
 
 

 
 

 
 

 
 

Equity securities - bank stock (carried at fair value)
 
$
544

 
$
202

 
$
—

 
$
746

FHLBB (carried at cost)
 
8,559

 
—

 
—

 
8,559

FRB (carried at cost)
 
5,374

 
—

 
—

 
5,374

Total other investments
 
$
14,477

 
$
202

 
$
—

 
$
14,679



The following table summarizes the amortized costs and estimated fair values of AFS and HTM securities, as of the dates indicated:
(In thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
December 31, 2019
 
  

 
  

 
  

 
  

AFS Investments (carried at fair value):
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
 
$
115,632

 
$
2,779

 
$
(328
)
 
$
118,083

Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
 
462,593

 
3,398

 
(2,605
)
 
463,386

Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
 
325,200

 
3,183

 
(2,478
)
 
325,905

Subordinated corporate bonds
 
10,553

 
191

 
—

 
10,744

Total AFS investments
 
$
913,978

 
$
9,551

 
$
(5,411
)
 
$
918,118

HTM Investments (carried at amortized cost):
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
 
$
1,302

 
$
57

 
$
—

 
$
1,359

Total HTM investments
 
$
1,302

 
$
57

 
$
—

 
$
1,359

December 31, 2018
 
  

 
  

 
  

 
  

AFS Investments (carried at fair value):
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
 
$
94,430

 
$
216

 
$
(894
)
 
$
93,752

Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
 
466,613

 
583

 
(13,524
)
 
453,672

Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
 
351,958

 
1,007

 
(10,071
)
 
342,894

Subordinated corporate bonds
 
20,398

 
23

 
(47
)
 
20,374

Total AFS investments
 
$
933,399

 
$
1,829

 
$
(24,536
)
 
$
910,692

HTM Securities (carried at amortized cost):
 


 


 


 


Obligations of states and political subdivisions
 
$
1,307

 
$
8

 
$
(24
)
 
$
1,291

Total HTM investments
 
$
1,307

 
$
8

 
$
(24
)
 
$
1,291
Unrealized Gross Losses and Estimated Fair Values of Investment Securities by Length of Time that Individual Securities in Each Category in Continuous Loss Position
The following table presents the estimated fair values and gross unrealized losses on AFS and HTM investments that were in a continuous loss position that was considered temporary, by length of time that an individual security in each category has been in a continuous loss position as of the dates indicated:
 
 
 
 
Less Than 12 Months
 
12 Months or More
 
Total
(In thousands, except number of holdings)
 
Number of Holdings
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
December 31, 2019
 
 
 
  

 
  

 
  

 
  

 
  

 
  

AFS Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
 
11

 
$
30,459

 
$
(328
)
 
$
—

 
$
—

 
$
30,459

 
$
(328
)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
 
59

 
162,964

 
(1,850
)
 
63,633

 
(755
)
 
226,597

 
(2,605
)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
 
35

 
66,549

 
(733
)
 
68,614

 
(1,745
)
 
135,163

 
(2,478
)
Total AFS investments
 
105

 
$
259,972

 
$
(2,911
)
 
$
132,247

 
$
(2,500
)
 
$
392,219

 
$
(5,411
)
December 31, 2018
 
 
 
  

 
  

 
  

 
  

 
  

 
  

AFS Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of states and political subdivisions
 
114

 
$
36,218

 
$
(281
)
 
$
28,437

 
$
(613
)
 
$
64,655

 
$
(894
)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
 
117

 
46,459

 
(252
)
 
364,430

 
(13,272
)
 
410,889

 
(13,524
)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
 
63

 
5,956

 
(40
)
 
227,461

 
(10,031
)
 
233,417

 
(10,071
)
Subordinated corporate bonds
 
6

 
11,378

 
(26
)
 
966

 
(21
)
 
12,344

 
(47
)
Total AFS investments
 
300

 
$
100,011

 
$
(599
)
 
$
621,294

 
$
(23,937
)
 
$
721,305

 
$
(24,536
)
HTM Investments:
 
 
 


 


 


 


 


 


Obligations of states and political subdivisions
 
2

 
$
509

 
$
(5
)
 
$
411

 
$
(19
)
 
$
920

 
$
(24
)
Total HTM investments
 
2

 
$
509

 
$
(5
)
 
$
411

 
$
(19
)
 
$
920

 
$
(24
)
Company's Sales of Securities
The following table details the Company’s sales of investments for the periods indicated below:
 
 
For The Year Ended
December 31,
(In thousands)
 
2019
 
2018
 
2017
Proceeds from sales of AFS investments(1)
 
$
207,001

 
$
56,155

 
$
20,366

Gross realized gains
 
1,427

 
32

 
869

Gross realized losses
 
(1,532
)
 
(695
)
 
(14
)
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity
The amortized cost and estimated fair values of AFS and HTM investments by contractual maturity at December 31, 2019 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)
 
Amortized
Cost
 
Fair
Value
AFS Investments
 
 
 
 
Due in one year or less
 
$
—

 
$
—

Due after one year through five years
 
76,027

 
76,341

Due after five years through ten years
 
207,757

 
208,866

Due after ten years
 
630,194

 
632,911

  
 
$
913,978

 
$
918,118

HTM Investments
 
 
 
 
Due in one year or less
 
$
—

 
$
—

Due after one year through five years
 
512

 
532

Due after five years through ten years
 
790

 
827

Due after ten years
 
—

 
—

 
 
$
1,302

 
$
1,359