XML 49 R33.htm IDEA: XBRL DOCUMENT v3.20.4
Investments (Tables)
12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities The following table summarizes the amortized cost, estimated fair value and unrealized gains (losses) of AFS debt securities as of the dates indicated:
(In thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
December 31, 2020        
Obligations of states and political subdivisions$119,608 $7,627 $(115)$127,120 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises547,396 19,796 (574)566,618 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises399,937 10,652 (135)410,454 
Subordinated corporate bonds11,533 186 (98)11,621 
Total AFS debt securities$1,078,474 $38,261 $(922)$1,115,813 
December 31, 2019        
Obligations of states and political subdivisions$115,632 $2,779 $(328)$118,083 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises462,593 3,398 (2,605)463,386 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises325,200 3,183 (2,478)325,905 
Subordinated corporate bonds
10,553 191 — 10,744 
Total AFS debt securities$913,978 $9,551 $(5,411)$918,118 
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
December 31, 2020    
FHLBB (carried at cost)$6,168 $— $— $6,168 
FRB (carried at cost)5,374 — — 5,374 
Total other investments$11,542 $— $— $11,542 
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 
Company's Sales of Securities
The following table details the Company’s sales of AFS debt securities for the periods indicated below:
For The Year Ended
December 31,
(In thousands)202020192018
Proceeds from sales of AFS debt securities(1)
$— $207,001 $56,155 
Gross realized gains— 1,427 32 
Gross realized losses— (1,532)(695)
(1)    For the year ended December 31, 2019 and 2018, the Company had not previously recorded any OTTI on AFS debt securities sold.
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity The amortized cost and estimated fair values of HTM debt securities by contractual maturity at December 31, 2020 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost
Fair
Value
Due in one year or less$— $— 
Due after one year through five years510 547 
Due after five years through ten years787 864 
Due after ten years— — 
 $1,297 $1,411 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following table presents the Company's AFS debt securities with gross unrealized losses, for which an ACL has not been recorded at December 31, 2020, segregated by the length of time the securities have been in a continuous loss position:

Less Than 12 Months12 Months or MoreTotal
(In thousands, except number of holdings)
Number of HoldingsFair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
December 31, 2020            
Obligations of states and political subdivisions1$2,404 $(115)$— $— $2,404 $(115)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises1561,222 (568)980 (6)62,202 (574)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises939,107 (135)— — 39,107 (135)
Subordinated corporate bonds54,902 (98)— — 4,902 (98)
Total AFS debt securities30$107,635 $(916)$980 $(6)$108,615 $(922)
December 31, 2019            
Obligations of states and political subdivisions11$30,459 $(328)$— $— $30,459 $(328)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises59162,964 (1,850)63,633 (755)226,597 (2,605)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises3566,549 (733)68,614 (1,745)135,163 (2,478)
Total AFS debt securities105$259,972 $(2,911)$132,247 $(2,500)$392,219 $(5,411)
Contractual Obligation, Fiscal Year Maturity
The amortized cost and estimated fair values of AFS debt securities by contractual maturity at December 31, 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
Due in one year or less$5,472 $5,495 
Due after one year through five years59,769 61,338 
Due after five years through ten years248,035 263,889 
Due after ten years765,198 785,091 
  $1,078,474 $1,115,813 
Debt Securities, Held-to-maturity The following table summarizes the amortized cost, estimated fair value and unrealized gains (losses) of HTM debt securities as of the dates indicated:
(In thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
December 31, 2020        
Obligations of states and political subdivisions$1,297 $114 $— $1,411 
Total HTM debt securities$1,297 $114 $— $1,411 
December 31, 2019        
Obligations of states and political subdivisions$1,302 $57 $— $1,359 
Total HTM debt securities$1,302 $57 $— $1,359