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INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2022
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, 2022    
Obligations of states and political subdivisions$54,004 $62 $(320)$53,746 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises642,019 91 (65,644)576,466 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
145,457 (8,890)136,570 
Subordinated corporate bonds
23,120 35 (1,814)21,341 
Total AFS debt securities$864,600 $191 $(76,668)$788,123 
December 31, 2021    
Obligations of U.S. government-sponsored enterprises$8,585 $— $(241)$8,344 
Obligations of states and political subdivisions112,086 5,392 — 117,478 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises1,003,869 7,856 (11,468)1,000,257 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises361,781 2,835 (5,767)358,849 
Subordinated corporate bonds22,660 152 (254)22,558 
Total AFS debt securities$1,508,981 $16,235 $(17,730)$1,507,486 
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,
2022
December 31,
2021
FHLBB$9,057 $4,906 
FRB5,374 5,374 
Total other investments$14,431 $10,280 
Company's Sales of Securities The following table details the Company's sales of AFS debt securities for the periods indicated below:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)2022202120222021
Proceeds from sales of investments$8,723 $— $8,723 $— 
Gross realized gains
13 — 13 — 
Gross realized losses(22)— (22)— 
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, 2022      
Obligations of states and political subdivisions78 $39,703 $(320)$— $— $39,703 $(320)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises170 500,257 (53,944)70,192 (11,700)$570,449 (65,644)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises76 99,345 (5,562)34,506 (3,328)133,851 (8,890)
Subordinated corporate bonds11 15,453 (1,668)1,853 (146)17,306 (1,814)
Total AFS debt securities335 $654,758 $(61,494)$106,551 $(15,174)$761,309 $(76,668)
December 31, 2021      
Obligations of U.S. government-sponsored enterprises$8,344 $(241)$— $— $8,344 $(241)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises113 659,851 (8,999)61,978 (2,469)721,829 (11,468)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises56 191,456 (4,602)38,117 (1,165)229,573 (5,767)
Subordinated corporate bonds11,932 (232)979 (22)12,911 (254)
Total AFS debt securities180 $871,583 $(14,074)$101,074 $(3,656)$972,657 $(17,730)
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, 2022, 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$1,217 $1,222 
Due after one year through five years9,227 8,762 
Due after five years through ten years63,681 62,078 
Due after ten years2,999 3,025 
Subtotal77,124 75,087 
Mortgage-related securities787,476 713,036 
Total$864,600 $788,123 
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
June 30, 2022      
Obligations of U.S. government-sponsored enterprises$7,389 $— $(158)$7,231 
Obligations of states and political subdivisions55,837 223 (816)55,244 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises329,542 — (5,529)324,013 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises151,384 — (2,593)148,791 
Subordinated corporate bonds2,368 — (109)2,259 
Total HTM debt securities $546,520 $223 $(9,205)$537,538 
December 31, 2021
Obligations of states and political subdivisions$1,291 $89 $— $1,380 
Total HTM debt securities$1,291 $89 $— $1,380 
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity The amortized cost and estimated fair values of HTM debt securities by contractual maturity at June 30, 2022 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost
Fair
Value
Due in one year or less$— $— 
Due after one year through five years865 870 
Due after five years through ten years14,528 14,310 
Due after ten years50,201 49,554 
Subtotal65,594 64,734 
Mortgage-related securities480,926 472,804 
Total$546,520 $537,538