SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

SECURITIES

Schedule of major categories of securities owned by entity

	March 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(591)	$	9,409
Treasury securities		238,622		—		(10,451)		228,171
Corporate securities		169,954		255		(19,964)		150,245
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		221,666		16		(25,806)		195,876
Agency CMOs		297,445		20		(47,625)		249,840
State and municipal obligations		27,654		—		(1,979)		25,675
Total securities available-for-sale	$	965,341	$	291	$	(106,416)	$	859,216
	March 31, 2024
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,666	$	—	$	(11,891)	$	77,775
Corporate securities		9,000		—		(1,530)		7,470
Pass-through MBS issued by GSEs		275,907		—		(41,743)		234,164
Agency CMOs		214,758		—		(29,449)		185,309
Total securities held-to-maturity	$	589,331	$	—	$	(84,613)	$	504,718

	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 MBS issued by 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

Schedule of amortized cost and fair value of debt securities

	March 31, 2024
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	124,638	$	121,393
One to five years		164,579		153,104
Five to ten years		157,013		139,003
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		519,111		445,716
Total	$	965,341	$	859,216
Held-to-maturity
Within one year	$	—	$	—
One to five years		19,795		18,292
Five to ten years		78,871		66,953
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		490,665		419,473
Total	$	589,331	$	504,718

Summary of sale of available-for-sale securities

	Three Months Ended
	March 31,
(In thousands)	2024		2023
Securities available-for-sale
Proceeds	$	—	$	77,804
Gross gains		—		130
Tax expense on gains		—		39
Gross losses		—		1,577
Tax benefit on losses		—		467

Schedule of gross unrealized losses and fair value of investment securities

	March 31, 2024
	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	$	—	$	—	$	9,409	$	591	$	9,409	$	591
Treasury securities		—		—		228,171		10,451		228,171		10,451
Corporate securities		6,337		500		128,603		19,464		134,940		19,964
Pass-through MBS issued by GSEs		—		—		194,066		25,806		194,066		25,806
Agency CMOs		2,459		11		242,361		47,614		244,820		47,625
State and municipal obligations		3,489		11		22,186		1,968		25,675		1,979

	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