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INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2021
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
June 30, 2021    
Obligations of U.S. government sponsored enterprises$7,200 $$(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 
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 
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 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 enterprises$6,081 $(119)$— $— $6,081 $(119)
Obligations of states and political subdivisions1,294 (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
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
$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 enterprises39,107 (135)— — 39,107 (135)
Subordinated corporate bonds4,902 (98)— — 4,902 (98)
Total AFS debt securities30 $107,635 $(916)$980 $(6)$108,615 $(922)
Contractual Obligation, Fiscal Year Maturity
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 
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
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 $— $1,411 
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity The amortized cost and estimated fair values of HTM debt securities by contractual maturity at June 30, 2021 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost
Fair
Value
Due in one year or less$— $— 
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