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INVESTMENTS
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
Trading Securities

Trading securities are reported on the Company's consolidated statements of condition at fair value. As of June 30, 2021 and December 31, 2020, the fair value of the Company's trading securities were $4.4 million and $4.2 million, respectively. These securities are held in a rabbi trust account and invested in mutual funds. The trading securities will be used for future payments associated with the Company's Executive Deferred Compensation Plan and Director Deferred Compensation Plan.
AFS Debt Securities

AFS debt securities are reported on the Company's consolidated statements of condition at fair value. 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
June 30, 2021    
Obligations of U.S. government sponsored enterprises$7,200 $2 $(119)$7,083 
Obligations of states and political subdivisions112,792 6,116 (255)118,653 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises829,611 13,290 (3,360)839,541 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
423,244 5,782 (3,724)425,302 
Subordinated corporate bonds
9,017 245 (18)9,244 
Total AFS debt securities$1,381,864 $25,435 $(7,476)$1,399,823 
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 enterprises
547,396 19,796 (574)566,618 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
399,937 10,652 (135)410,454 
Subordinated corporate bonds
11,533 186 (98)11,621 
Total AFS debt securities$1,078,474 $38,261 $(922)$1,115,813 

As of June 30, 2021 and December 31, 2020, there was no allowance carried on AFS debt securities in accordance with ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13").

The net unrealized gains on AFS debt securities reported within AOCI at June 30, 2021, were $14.1 million, net of a deferred tax liability of $3.9 million. The net unrealized gains on AFS investments reported within AOCI at December 31, 2020, were $29.3 million, net of a deferred tax liability of $8.0 million.

For the three and six months ended June 30, 2021 and 2020, the Company did not sell any AFS debt securities.
The following table presents the Company's AFS debt securities with gross unrealized losses, for which an ACL has not been recorded, segregated by the length of time the securities have 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
June 30, 2021      
Obligations of U.S. government sponsored enterprises3 $6,081 $(119)$— $— $6,081 $(119)
Obligations of states and political subdivisions2 1,294 (2)2,265 (253)3,559 (255)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
54 329,607 (3,358)297 (2)329,904 (3,360)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
42 211,308 (3,665)4,063 (59)215,371 (3,724)
Subordinated corporate bonds
2 1,982 (18)— — 1,982 (18)
Total AFS debt securities103 $550,272 $(7,162)$6,625 $(314)$556,897 $(7,476)
December 31, 2020      
Obligations of states and political subdivisions
1 $2,404 $(115)$— $— $2,404 $(115)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
15 61,222 (568)980 (6)62,202 (574)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises9 39,107 (135)— — 39,107 (135)
Subordinated corporate bonds5 4,902 (98)— — 4,902 (98)
Total AFS debt securities30 $107,635 $(916)$980 $(6)$108,615 $(922)

For the three and six months ended June 30, 2021 and 2020, the unrealized losses on Company's AFS debt securities have not been recognized within income because management does not intend to sell and it is not more-likely-than-not it will be required to sell any of the AFS debt securities before recovery of its amortized cost basis. Furthermore, the unrealized losses were due to changes in interest rates and other market conditions and not reflective of credit events. The issuers continue to make timely principal and interest payments on the bonds.

At June 30, 2021 and December 31, 2020, total accrued interest receivable on AFS debt securities, which has been excluded from reported amortized cost basis on AFS debt securities, was $3.3 million and $3.1 million respectively and was reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.
The amortized cost and estimated fair values of the Company's AFS debt securities by contractual maturity at June 30, 2021, 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. Mortgage-related securities are shown in total, as their maturities are highly variable.
(In thousands)Amortized
Cost		Fair
Value
Due in one year or less$3,018 $3,072 
Due after one year through five years4,276 4,641 
Due after five years through ten years74,599 77,814 
Due after ten years47,116 49,453 
Subtotal129,009 134,980 
Mortgage-related securities1,252,855 1,264,843 
Total$1,381,864 1381864000$1,399,823 

HTM Debt Securities

HTM debt securities are reported on the Company's consolidated statements of condition at amortized cost. 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
March 31, 2021        
Obligations of states and political subdivisions$1,294 $103 $— $1,397 
Total HTM debt securities$1,294 $103 $— $1,397 
December 31, 2020        
Obligations of states and political subdivisions$1,297 $114 $— $1,411 
Total HTM debt securities$1,297 $114 $— $1,411 

As of June 30, 2021 and December 31, 2020, the Company’s HTM debt securities portfolio was made up of three investment grade municipal debt securities, of which two securities also carried credit enhancements. The HTM debt securities portfolio was comprised solely of high credit quality (rated AA or higher) state and municipal obligations. High credit quality state and municipal obligations have a history of zero to near-zero credit loss. As a result, the Company determined that the expected credit loss on its HTM portfolio was immaterial, and therefore, an allowance was not carried on its HTM debt securities at June 30, 2021 or December 31, 2020.

As of June 30, 2021 and December 31, 2020, none of the Company's HTM debt securities were past due or on non-accrual status. For the three and six months ended June 30, 2021 and 2020, the Company did not recognize any interest income on non-accrual HTM debt securities. At June 30, 2021 and December 31, 2020, total accrued interest receivable on HTM debt securities, which has been excluded from reported amortized cost basis on HTM debt securities, was $10,000, and reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.
The amortized cost and estimated fair values of HTM debt securities by contractual maturity at June 30, 2021 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost		Fair
Value
Due in one year or less$— $— 
Due after one year through five years868 933 
Due after five years through ten years426 464 
Due after ten years— — 
Total$1,294 $1,397 

AFS and HTM Debt Securities Pledged

At June 30, 2021 and December 31, 2020, AFS and HTM debt securities with an amortized cost of $500.8 million and $485.0 million and estimated fair values of $512.9 million and $507.1 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.

Other Investments

The Company's FHLBB and FRB common stock are reported at cost within other investments on the consolidated statements of condition. The Company evaluates these investments for impairment based on the ultimate recoverability of the par value. The Company did not record any impairment on its FHLBB and FRB stock for the three and six months ended June 30, 2021 and 2020.

The following table summarizes the Company's investment in FHLBB stock and FRBB stock as presented within other investments on the consolidated statements of condition, as of the dates indicated:
(In thousands)June 30,
2021		December 31,
2020
FHLBB$4,850 $6,167 
FRB5,374 5,374 
Total other investments$10,224 $11,541