SECURITIES (Tables)

6 Months Ended

Jun. 30, 2023

SECURITIES

Major Categories of Securities Owned by Entity

	June 30, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(855)	$	9,145
Treasury securities		246,392		—		(17,785)		228,607
Corporate securities		169,589		—		(30,036)		139,553
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		253,191		—		(30,607)		222,584
Agency collateralized mortgage obligations ("CMOs")		317,307		2		(51,636)		265,673
State and municipal obligations		31,794		—		(2,500)		29,294
Total securities available-for-sale	$	1,028,273	$	2	$	(133,419)	$	894,856
	June 30, 2023
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,359	$	—	$	(13,284)	$	76,075
Corporate securities		9,000		—		(1,340)		7,660
Pass-through MBS issued by GSEs		286,918		—		(40,848)		246,070
Agency CMOs		218,683		—		(28,419)		190,264
Total securities held-to-maturity	$	603,960	$	—	$	(83,891)	$	520,069

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Treasury securities	$	246,899	$	—	$	(19,643)	$	227,256
Corporate securities		183,791		57		(17,075)		166,773
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		272,774		—		(31,534)		241,240
Agency collateralized mortgage obligations ("CMOs")		331,394		2		(50,057)		281,339
State and municipal obligations		37,000		—		(3,021)		33,979
Total securities available-for-sale	$	1,071,858	$	59	$	(121,330)	$	950,587
	December 31, 2022
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,157	$	—	$	(14,095)	$	75,062
Corporate securities		9,000		—		(553)		8,447
Pass-through MBS issued by GSEs		278,281		—		(40,960)		237,321
Agency CMOs		209,360		—		(24,431)		184,929
Total securities held-to-maturity	$	585,798	$	—	$	(80,039)	$	505,759

Schedule of amortized cost and fair value of debt securities

	June 30, 2023
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	43,224	$	41,505
One to five years		237,304		218,555
Five to ten years		177,248		146,540
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		570,497		488,256
Total	$	1,028,273	$	894,856
Held-to-maturity
Within one year	$	—	$	—
One to five years		10,000		9,279
Five to ten years		88,359		74,456
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		505,601		436,334
Total	$	603,960	$	520,069

Summary of Sale of Available-for-sale Securities

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2023		2022		2023		2022
Securities available-for-sale
Proceeds	$	—	$	—	$	77,804	$	—
Gross gains		—		—		130		—
Tax expense on gains		—		—		39		—
Gross losses		—		—		1,577		—
Tax benefit on losses		—		—		467		—

Gross Unrealized Losses and Fair Value of Investment Securities by Investment Category and Length of Time in a Continuous Unrealized Loss Position

	June 30, 2023
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Agency notes	$	—	$	—	$	9,145	$	855	$	9,145	$	855
Treasury securities		—		—		228,607		17,785		228,607		17,785
Corporate securities		68,385		11,962		71,168		18,074		139,553		30,036
Pass-through MBS issued by GSEs		24,222		1,154		198,362		29,453		222,584		30,607
Agency CMOs		990		27		259,681		51,609		260,671		51,636
State and municipal obligations		1,970		79		26,824		2,421		28,794		2,500

	December 31, 2022
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Treasury securities	$	—	$	—	$	227,256	$	19,643	$	227,256	$	19,643
Corporate securities		110,707		8,494		50,116		8,581		160,823		17,075
Pass-through MBS issued by GSEs		50,813		2,010		190,427		29,524		241,240		31,534
Agency CMOs		55,924		3,454		220,413		46,603		276,337		50,057
State and municipal obligations		10,848		174		22,681		2,847		33,529		3,021