SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

SECURITIES

Schedule of major categories of securities owned by entity

	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(629)	$	9,371
Treasury securities		245,877		—		(11,687)		234,190
Corporate securities		174,978		—		(23,808)		151,170
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		230,253		10		(24,978)		205,285
Agency CMOs		305,860		46		(46,491)		259,415
State and municipal obligations		28,741		—		(1,932)		26,809
Total securities available-for-sale	$	995,709	$	56	$	(109,525)	$	886,240
	December 31, 2023
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,563	$	—	$	(11,300)	$	78,263
Corporate securities		9,000		—		(1,825)		7,175
Pass-through MBS issued by GSEs		279,853		—		(37,579)		242,274
Agency CMOs		216,223		16		(27,021)		189,218
Total securities held-to-maturity	$	594,639	$	16	$	(77,725)	$	516,930

	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 MBS issued by GSEs		272,774		—		(31,534)		241,240
Agency 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

Amortized cost and fair value of securities are shown by contractual maturity

	December 31, 2023
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	88,498	$	86,233
One to five years		198,552		186,041
Five to ten years		172,546		149,266
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		536,113		464,700
Total	$	995,709	$	886,240
Held-to-maturity
Within one year	$	—	$	—
One to five years		19,783		18,397
Five to ten years		78,780		67,041
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMO		496,076		431,492
Total	$	594,639	$	516,930

Summary of sale of available-for-sale securities

	Year Ended December 31,
(In thousands)	2023		2022		2021
Proceeds	$	77,804	$	—	$	138,077
Gross gains		130		—		1,327
Tax expense on gains		39		—		421
Gross losses		1,577		—		120
Tax benefit on losses		467		—		38

Sales of Marketable Equity Securities

	Year Ended December 31,
(In thousands)	2023		2022		2021
Proceeds:
Marketable equity securities	$	—	$	—	$	6,101

Schedule of gross unrealized losses and fair value of investment securities

	December 31, 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	$	—	$	—	$	9,371	$	629	$	9,371	$	629
Treasury securities		—		—		234,190		11,687		234,190		11,687
Corporate securities		20,935		917		130,235		22,891		151,170		23,808
Pass-through MBS issued by GSEs		—		—		203,469		24,978		203,469		24,978
Agency CMOs		—		—		251,900		46,491		251,900		46,491
State and municipal obligations		1,796		54		21,513		1,878		23,309		1,932

	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