XML 41 R28.htm IDEA: XBRL DOCUMENT v3.21.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2021
Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of AFS Securities
The amortized cost, estimated fair value and unrealized gains (losses) of AFS securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of March 31, 2021
                        
Federal agency
  
$
258,479
    
$
2
    
$
9,594
    
$
248,887
  
State & municipal
    
49,048
      
128
      
1,151
      
48,025
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
606,988
      
12,506
      
5,448
      
614,046
  
U.S. government agency securities
    
57,913
      
1,390
      
110
      
59,193
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
278,532
      
6,568
      
934
      
284,166
  
U.S. government agency securities
    
101,892
      
2,655
      
-
      
104,547
  
Corporate
    
27,500
      
709
      
45
      
28,164
  
Total AFS securities
  
$
1,380,352
    
$
23,958
    
$
17,282
    
$
1,387,028
  
As of December 31, 2020
                                
Federal agency
  
$
245,590
    
$
59
    
$
2,052
    
$
243,597
  
State & municipal
    
42,550
      
630
      
-
      
43,180
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
521,448
      
17,079
      
22
      
538,505
  
U.S. government agency securities
    
55,049
      
2,332
      
47
      
57,334
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
311,710
      
7,549
      
58
      
319,201
  
U.S. government agency securities
    
114,864
      
3,739
      
-
      
118,603
  
Corporate
    
27,500
      
778
      
-
      
28,278
  
Total AFS securities
  
$
1,318,711
    
$
32,166
    
$
2,179
    
$
1,348,698
  
Amortized Cost, Estimated Fair Value, and Unrealized Gains (Losses) of Securities HTM
The amortized cost, estimated fair value and unrealized gains (losses) of securities HTM are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of March 31, 2021
                        
Federal agency
  
$
100,000
    
$
-
    
$
5,841
    
$
94,159
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
92,584
      
3,312
      
108
      
95,788
  
U.S. government agency securities
    
10,309
      
670
      
-
      
10,979
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
92,059
      
4,078
      
-
      
96,137
  
U.S. government agency securities
    
53,814
      
2,124
      
-
      
55,938
  
State & municipal
    
244,233
      
5,309
      
2,367
      
247,175
  
Total HTM securities
  
$
592,999
    
$
15,493
    
$
8,316
    
$
600,176
  
As of December 31, 2020
                                
Federal agency
  
$
100,000
    
$
-
    
$
1,658
    
$
98,342
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
107,914
      
4,583
      
-
      
112,497
  
U.S. government agency securities
    
11,533
      
979
      
-
      
12,512
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
103,105
      
4,477
      
-
      
107,582
  
U.S. government agency securities
    
79,145
      
3,950
      
-
      
83,095
  
State & municipal
    
214,863
      
7,953
      
17
      
222,799
  
Total HTM securities
  
$
616,560
    
$
21,942
    
$
1,675
    
$
636,827
  
Gains and Losses on Equity Securities
The following table sets forth information with regard to gains and (losses) on equity securities:

  
Three Months Ended March 31,
  
(In thousands)
  
2021
    
2020
  
Net gains and (losses) recognized on equity securities
  
$
452
    
$
(815
)
Less: Net gains and (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized gains and (losses) recognized on equity securities still held
  
$
452
    
$
(815
)
Contractual Maturities of Debt Securities
The following table sets forth information with regard to contractual maturities of debt securities at March 31, 2021:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
1,710
    
$
1,724
  
From one to five years
    
22,127
      
22,984
  
From five to ten years
    
572,232
      
564,112
  
After ten years
    
784,283
      
798,208
  
Total AFS debt securities
  
$
1,380,352
    
$
1,387,028
  
HTM debt securities:
                
Within one year
  
$
18,116
    
$
18,155
  
From one to five years
    
57,331
      
58,621
  
From five to ten years
    
228,313
      
227,625
  
After ten years
    
289,239
      
295,775
  
Total HTM debt securities
  
$
592,999
    
$
600,176
  
Investment Securities with Unrealized Losses
The following table sets forth information with regard to investment securities with unrealized losses, for which an allowance for credit losses has not been recorded, segregated according to the length of time the securities had been in a continuous unrealized loss position:

  
Less Than 12 Months
    
12 Months or Longer
    
Total
  
(In thousands)
  
Fair
Value
    
Unrealized
Losses
    
Number
of Positions
    
Fair
Value
    
Unrealized
Losses
    
Number
of Positions
    
Fair
Value
    
Unrealized
Losses
    
Number
of Positions
  
As of March 31, 2021
                                                      
AFS securities:
                                                      
Federal agency
  
$
238,885
    
$
(9,594
)
    
16
    
$
-
    
$
-
      
-
    
$
238,885
    
$
(9,594
)
    
16
  
State & municipal
    
45,370
      
(1,151
)
    
28
      
-
      
-
      
-
      
45,370
      
(1,151
)
    
28
  
Mortgage-backed
    
289,888
      
(5,549
)
    
21
      
787
      
(9
)
    
4
      
290,675
      
(5,558
)
    
25
  
Collateralized mortgage obligations
    
32,238
      
(934
)
    
11
      
-
      
-
      
-
      
32,238
      
(934
)
    
11
  
Corporate
    
7,455
      
(45
)
    
3
      
-
      
-
      
-
      
7,455
      
(45
)
    
3
  
Total securities with unrealized losses
  
$
613,836
    
$
(17,273
)
    
79
    
$
787
    
$
(9
)
    
4
    
$
614,623
    
$
(17,282
)
    
83
  
                                                                         
HTM securities:
                                                                        
Federal agency
  
$
94,159
    
$
(5,841
)
    
4
    
$
-
    
$
-
      
-
    
$
94,159
    
$
(5,841
)
    
4
  
Mortgage-backed
    
8,312
      
(108
)
    
1
      
-
      
-
      
-
      
8,312
      
(108
)
    
1
  
State & municipal
    
70,315
      
(2,367
)
    
56
      
-
      
-
      
-
      
70,315
      
(2,367
)
    
56
  
Total securities with unrealized losses
  
$
172,786
    
$
(8,316
)
    
61
    
$
-
    
$
-
      
-
    
$
172,786
    
$
(8,316
)
    
61
  
                                                                         
As of December 31, 2020
                                                                        
AFS securities:
                                                                        
Federal agency
  
$
148,537
    
$
(2,052
)
    
10
    
$
-
    
$
-
      
-
    
$
148,537
    
$
(2,052
)
    
10
  
Mortgage-backed
    
47,269
      
(60
)
    
3
      
800
      
(9
)
    
4
      
48,069
      
(69
)
    
7
  
Collateralized mortgage obligations
    
17,837
      
(58
)
    
6
      
-
      
-
      
-
      
17,837
      
(58
)
    
6
  
Total securities with unrealized losses
  
$
213,643
    
$
(2,170
)
    
19
    
$
800
    
$
(9
)
    
4
    
$
214,443
    
$
(2,179
)
    
23
  
                                                                         
HTM securities:
                                                                        
Federal agency
  
$
98,342
    
$
(1,658
)
    
4
    
$
-
    
$
-
      
-
    
$
98,342
    
$
(1,658
)
    
4
  
State & municipal
    
4,805
      
(17
)
    
5
      
-
      
-
      
-
      
4,805
      
(17
)
    
5
  
Total securities with unrealized losses
  
$
103,147
    
$
(1,675
)
    
9
    
$
-
    
$
-
      
-
    
$
103,147
    
$
(1,675
)
    
9