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Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Available for Sale ("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 December 31, 2022
                        
U.S. treasury
  $ 132,891     $ -     $ (11,233 )   $ 121,658  
Federal agency
    
248,419
      
-
      
(42,000
)
    
206,419
  
State & municipal
    
97,036
      
5
      
(14,190
)
    
82,851
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
454,177
      
9
      
(54,675
)
    
399,511
  
U.S. government agency securities
    
81,844
      
15
      
(7,676
)
    
74,183
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
498,021
      
9
      
(59,473
)
    
438,557
  
U.S. government agency securities
    
171,090
      
-
      
(21,284
)
    
149,806
  
Corporate
    
60,404
      
-
      
(6,164
)
    
54,240
  
Total AFS securities
  
$
1,743,882
    
$
38
    
$
(216,695
)
  
$
1,527,225
  
As of December 31, 2021
                                
U.S. treasury
   $ 73,016     $ 59     $ (6 )   $ 73,069
Federal agency
    
248,454
      
-
      
(8,523
)
    
239,931
  
State & municipal
    
95,531
      
116
      
(1,559
)
    
94,088
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
538,036
      
8,036
      
(5,589
)
    
540,483
  
U.S. government securities
    
65,339
      
1,108
      
(255
)
    
66,192
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
484,550
      
2,723
      
(5,113
)
    
482,160
  
U.S. government securities
    
139,380
      
939
      
(884
)
    
139,435
  
Corporate
    50,500       1,516       (13 )     52,003  
Total AFS securities
  
$
1,694,806
    
$
14,497
    
$
(21,942
)
  
$
1,687,361
  
Components of Net Realized Gains (Losses) on Sale of AFS Securities
The components of net realized gains (losses) on AFS securities are as follows.

Years Ended December 31,
  
(In thousands)
2022
  
2021
  
2020
  
Gross realized gains
  
$
-
    
$
-
    
$
3
  
Gross realized (losses)
    
-
      
-
      
-
  
Net AFS realized gains (losses)
  
$
-
    
$
-
    
$
3
  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Held to Maturity ("HTM") Securities
The amortized cost, estimated fair value and unrealized gains (losses) of HTM securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of December 31, 2022
                        
Federal agency
  
$
100,000
    
$
-
    
$
(20,678
)
  
$
79,322
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
249,511
      
-
      
(36,819
)
    
212,692
  
U.S. government agency securities
    
18,396
      
4
      
(619
)
    
17,781
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
207,738
      
200
      
(14,876
)
    
193,062
  
U.S. government agency securities
    
66,628
      
-
      
(9,842
)
    
56,786
  
State & municipal
    
277,244
      
5
      
(24,245
)
    
253,004
  
Total HTM securities
  
$
919,517
    
$
209
    
$
(107,079
)
  
$
812,647
  
As of December 31, 2021
                                
Federal agency
  $ 100,000     $ -     $ (4,365 )   $ 95,635  
Mortgage-backed:
                                
Government-sponsored enterprises
    
161,462
      
2,232
      
(1,319
)
    
162,375
  
U.S. government agency securities
    
9,112
      
514
      
-
      
9,626
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
94,342
      
1,932
      
(129
)
    
96,145
  
U.S. government agency securities
    
44,473
      
336
      
(674
)
    
44,135
  
State & municipal
    
323,821
      
5,026
      
(1,503
)
    
327,344
  
Total HTM securities
  
$
733,210
    
$
10,040
    
$
(7,990
)
  
$
735,260
  
Gains and (Losses) on Equity Securities
The following table set forth information with regard to gains and (losses) on equity securities:

 
Years Ended
December 31,
  
(In thousands)
  
2022
    
2021
  
Net (losses) and gains recognized on equity securities
  
$
(1,135
)
  
$
537
  
Less: Net (losses) and gains recognized on equity securities sold during the period    
-
      
-
  
Unrealized (losses) and gains recognized on equity securities still held
  
$
(1,135
)
  
$
537
  
Contractual Maturities of Debt Securities
The following table set forth information with regard to contractual maturities of debt securities at December 31, 2022:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
682
    
$
675
  
From one to five years
    
402,807
      
361,295
  
From five to ten years
    
582,736
      
506,036
  
After ten years
    
757,657
      
659,219
  
Total AFS debt securities
  
$
1,743,882
    
$
1,527,225
  
HTM debt securities:
                
Within one year
  
$
49,986
    
$
49,979
  
From one to five years
    
92,443
      
89,979
  
From five to ten years
    
278,664
      
241,294
  
After ten years
    
498,424
      
431,395
  
Total HTM debt securities
  
$
919,517
    
$
812,647
  
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 December 31, 2022
                                                      
AFS securities:
                                                      
U.S. treasury
  $ 55,616     $ (3,864 )     5     $ 66,042     $ (7,369 )     3     $ 121,658     $ (11,233 )     8
  
Federal agency
    
-
      
-
      
-
      
206,419
      
(42,000
)
    
16
      
206,419
      
(42,000
)
    
16
  
State & municipal
    3,679       (341 )     2       78,395       (13,849 )     64       82,074       (14,190 )     66  
Mortgage-backed
    
204,447
      
(15,048
)
    
149
      
267,926
      
(47,303
)
    
32
      
472,373
      
(62,351
)
    
181
  
Collateralized mortgage obligations
    
211,612
      
(14,458
)
    
77
      
374,376
      
(66,299
)
    
49
      
585,988
      
(80,757
)
    
126
  
Corporate
    34,434       (2,970 )     12       19,806       (3,194 )     6       54,240       (6,164 )     18  
Total securities with unrealized losses
  
$
509,788
    
$
(36,681
)
    
245
    
$
1,012,964
    
$
(180,014
)
    
170
    
$
1,522,752
    
$
(216,695
)
    
415
  
                                                                         
HTM securities:
                                                                        
Federal agency
  
$
-
    
$
-
      
-
    
$
79,322
    
$
(20,678
)
    
4
    
$
79,322
    
$
(20,678
)
    
4
  
Mortgage-backed
    91,417       (9,096 )     21       138,936       (28,342 )     13       230,353       (37,438 )     34  
Collateralized mortgage obligations
    191,644       (13,863 )     47       48,289       (10,855 )     8       239,933       (24,718 )     55  
State & municipal
    
110,727
      
(4,930
)
    
149
      
82,949
      
(19,315
)
    
76
      
193,676
      
(24,245
)
    
225
  
Total securities with unrealized losses
  
$
393,788
    
$
(27,889
)
    
217
    
$
349,496
    
$
(79,190
)
    
101
    
$
743,284
    
$
(107,079
)
    
318
  
                                                                         
As of December 31, 2021
                                                                        
AFS securities:
                                                                        
U.S. treasury
   $ 49,105     $ (6 )     2     $ -     $ -       -     $ 49,105     $ (6 )     2  
Federal agency
  

41,618
    

(1,846
)
    
4
    

198,313
    

(6,677
)
    
12
    

239,931
    

(8,523
)
    
16
  
State & municipal
     87,515       (1,559 )     61       -       -       -       87,515       (1,559 )     61  
Mortgage-backed
    
281,217
      
(4,319
)
    
24
      
39,491
      
(1,525
)
    
6
      
320,708
      
(5,844
)
    
30
  
Collateralized mortgage obligations
    
341,673
      
(5,495
)
    
34
      
15,774
      
(502
)
    
4
      
357,447
      
(5,997
)
    
38
  
Corporate
     9,987       (13 )     2       -       -       -       9,987       (13 )     2  
Total securities with unrealized losses
  
$
811,115
    
$
(13,238
)
    
127
    
$
253,578
    
$
(8,704
)
    
22
    
$
1,064,693
    
$
(21,942
)
    
149
  
                                                                         
HTM securities:
                                                                        
Federal agency
  $ -     $ -       -     $ 95,635     $ (4,365 )     4     $ 95,635     $ (4,365 )     4  
Mortgage-backed
     103,789       (1,319 )     10       -       -       -       103,789       (1,319 )     10  
Collateralized mortgage obligations     54,612       (803 )     6       -       -       -       54,612       (803 )     6  
State & municipal
    
52,783
      
(1,189
)
    
40
      
8,950
      
(314
)
    
10
      
61,733
      
(1,503
)
    
50
  
Total securities with unrealized losses
  
$
211,184
    
$
(3,311
)
    
56
    
$
104,585
    
$
(4,679
)
    
14
    
$
315,769
    
$
(7,990
)
    
70