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INVESTMENTS
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
AFS and HTM Investments

The following table summarizes the amortized cost and estimated fair values of AFS and HTM investments, as of the dates indicated: 
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
September 30, 2020    
AFS Investments (carried at fair value):
Obligations of states and political subdivisions
$120,636 $7,055 $(78)$127,613 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
549,930 19,036 (864)568,102 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
389,382 11,313 (129)400,566 
Subordinated corporate bonds
10,531 313 (56)10,788 
Total AFS investments$1,070,479 $37,717 $(1,127)$1,107,069 
HTM Investments (carried at amortized cost):
Obligations of states and political subdivisions
$1,298 $105 $— $1,403 
Total HTM investments$1,298 $105 $— $1,403 
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 

The net unrealized gain on AFS investments reported within AOCI at September 30, 2020, was $28.7 million, net of a deferred tax liability of $7.9 million. The net unrealized gain on AFS investments reported within AOCI at December 31, 2019, was $3.3 million, net of a deferred tax liability of $890,000.

Impaired AFS and HTM Investments:
Quarterly, management reviews the Company’s AFS and HTM investments to determine the cause, magnitude and duration of declines in the fair value of each security. Thorough evaluations of the causes of the unrealized losses are performed to determine whether the impairment is temporary or other-than-temporary in nature. Considerations such as the ability of the securities to meet cash flow requirements, levels of credit enhancements, risk of curtailment, and recoverability of invested amount over a reasonable period of time, and the length of time the security is in a loss position, for example, are applied in determining OTTI. Once a decline in value is determined to be other-than-temporary, the cost basis of the security is permanently reduced and a corresponding charge to earnings is recognized.
 
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 Months12 Months or MoreTotal
(In thousands, except number of holdings)
Number of
Holdings		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
September 30, 2020      
AFS Investments:
Obligations of states and political subdivisions
1 $2,441 $(78)$— $— 2,441 $(78)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
14 59,434 (858)1,004 (6)$60,438 (864)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
8 33,046 (129)— — 33,046 (129)
Subordinated corporate bonds
3 2,944 (56)— — $2,944 (56)
Total AFS investments26 $97,865 $(1,121)$1,004 $(6)$98,869 $(1,127)
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 investments105 $259,972 $(2,911)$132,247 $(2,500)$392,219 $(5,411)

At September 30, 2020 and December 31, 2019, unrealized losses within the AFS and HTM investment portfolios were reflective of current interest rates in excess of the yield received on debt investments, and were not indicative of an overall change in credit quality or other factors. At September 30, 2020 and December 31, 2019, gross unrealized losses on the Company's AFS and HTM investments were 1% of their respective fair values.

At September 30, 2020, the Company had the intent and ability to retain its debt investments in an unrealized loss position until the decline in value has recovered.
Sale of AFS Investments:
The following table details the Company's sales of AFS investments for the periods indicated below:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2020201920202019
Proceeds from sales of investments(1)
$— $97,042 $— $142,868 
Gross realized gains
— 1,015 — 1,386 
Gross realized losses— (1,014)— (1,358)
(1) The Company had not previously recorded any OTTI on these investments sold.

AFS and HTM Investments Pledged:
At September 30, 2020 and December 31, 2019, AFS and HTM investments with an amortized cost of $597.7 million and $709.0 million and estimated fair values of $622.6 million and $712.4 million, respectively, were pledged to secure FHLBB advances, public deposits, and securities sold under agreements to repurchase and for other purposes required or permitted by law.
 
Contractual Maturities:
The amortized cost and estimated fair values of the Company's AFS and HTM investments by contractual maturity at September 30, 2020, 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$4,415 $4,448 
Due after one year through five years64,310 66,551 
Due after five years through ten years229,933 244,118 
Due after ten years771,821 791,952 
Total$1,070,479 $1,107,069 
HTM Investments
Due in one year or less$— $— 
Due after one year through five years510 547 
Due after five years through ten years788 856 
Due after ten years— — 
Total$1,298 $1,403 
 
Other Investments

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)CostUnrealized
Gains		Unrealized
Losses		Fair Value /
Carrying Value
September 30, 2020    
Equity securities - bank stock (carried at fair value)$544 $1,130 $— $1,674 
FHLBB (carried at cost)6,297 — — 6,297 
FRB (carried at cost)5,374 — — 5,374 
Total other investments$12,215 $1,130 $— $13,345 
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 

For the three months ended September 30, 2020 and 2019, the Company recognized an unrealized loss of $0 and $22,000, respectively, due to the change in fair value of its bank stock equity securities, which was presented within other income on the consolidated statements of income. For the nine months ended September 30, 2020 and 2019, the Company recognized an unrealized gain of $0 and $62,000, respectively, due to the change in fair value of its bank stock equity securities, which was presented within other income on the consolidated statements of income.
The Company did not record any OTTI on its FHLBB and FRB stock for the three and nine months ended September 30, 2020 and 2019.