Securities (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

The following table summarizes the Company’s portfolio of securities held-to-maturity at June 30, 2020:

					Gross		Gross		Allowance
	Amortized				Unrealized		Unrealized		for Credit
	Cost		Fair Value		Gains		Losses		Losses
	(In thousands)
Securities held-to-maturity:
Municipals	$	50,480	$	52,532	$	2,214	$	162	$	(402)
Total other securities		50,480		52,532		2,214		162		(402)
FNMA		7,924		9,126		1,202		—		—
Total mortgage-backed securities		7,924		9,126		1,202		—		—
Total	$	58,404	$	61,658	$	3,416	$	162	$	(402)

The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2019:

					Gross		Gross
	Amortized				Unrealized		Unrealized
	Cost		Fair Value		Gains		Losses
	(In thousands)
Securities held-to-maturity:
Municipals	$	50,954	$	53,998	$	3,044	$	—
Total other securities		50,954		53,998		3,044		—
FNMA		7,934		8,114		180		—
Total mortgage-backed securities		7,934		8,114		180		—
Total	$	58,888	$	62,112	$	3,224	$	—

The following table summarizes the Company’s portfolio of securities available for sale at June 30, 2020:

					Gross		Gross
	Amortized				Unrealized		Unrealized
	Cost		Fair Value		Gains		Losses
	(In thousands)
Securities available for sale:
Corporate	$	130,000	$	120,764	$	229	$	9,465
Municipals		3,704		3,712		8		—
Mutual funds		12,639		12,639		—		—
Collateralized loan obligations		100,372		94,620		—		5,752
Other		1,068		1,068		—		—
Total other securities		247,783		232,803		237		15,217
REMIC and CMO		241,196		248,682		7,510		24
GNMA		572		628		56		—
FNMA		143,000		145,871		3,018		147
FHLMC		46,699		47,326		639		12
Total mortgage-backed securities		431,467		442,507		11,223		183
Total securities available for sale	$	679,250	$	675,310	$	11,460	$	15,400

The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2019:

					Gross		Gross
	Amortized				Unrealized		Unrealized
	Cost		Fair Value		Gains		Losses
	(In thousands)
Securities available for sale:
Corporate	$	130,000	$	123,050	$	—	$	6,950
Municipals		12,797		12,916		119		—
Mutual funds		12,216		12,216		—		—
Collateralized loan obligations		100,349		99,137		—		1,212
Other		1,332		1,332		—		—
Total other securities		256,694		248,651		119		8,162
REMIC and CMO		348,236		348,989		2,193		1,440
GNMA		653		704		51		—
FNMA		104,235		104,882		1,073		426
FHLMC		68,476		69,274		871		73
Total mortgage-backed securities		521,600		523,849		4,188		1,939
Total securities available for sale	$	778,294	$	772,500	$	4,307	$	10,101

Investments Classified by Contractual Maturity Date [Table Text Block]

	Amortized
Securities held-to-maturity:	Cost		Fair Value
	(In thousands)
Due in one year or less	$	—	$	—
Due after ten years		50,480		52,532
Total other securities		50,480		52,532
Mortgage-backed securities		7,924		9,126
Total	$	58,404	$	61,658

	Amortized
Securities available for sale:	Cost		Fair Value
	(In thousands)
Due after one year through five years	$	45,000	$	43,154
Due after five years through ten years		102,927		94,656
Due after ten years		87,217		82,354
Total other securities		235,144		220,164
Mutual funds		12,639		12,639
Mortgage-backed securities		431,467		442,507
Total	$	679,250	$	675,310

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

	At June 30, 2020
	Total					Less than 12 months				12 months or more
				Unrealized				Unrealized				Unrealized
	Count	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
	(Dollars in thousands)
Held-to-maturity securities
Municipals	1	$	20,464	$	162	$	20,464	$	162	$	—	$	—
Total other securities	1		20,464		162		20,464		162		—		—
Total securities held-to-maturity	1	$	20,464	$	162	$	20,464	$	162	$	—	$	—
Available for sale securities
Corporate	14	$	110,535	$	9,465	$	—	$	—	$	110,535	$	9,465
Collateralized loan obligations	13		94,620		5,752		12,602		819		82,018		4,933
Total other securities	27		205,155		15,217		12,602		819		192,553		14,398
REMIC and CMO	2		7,818		24		7,818		24		—		—
FNMA	2		40,161		147		31,434		119		8,727		28
FHLMC	1		14,524		12		14,524		12		—		—
Total mortgage-backed securities	5		62,503		183		53,776		155		8,727		28
Total securities available for sale	32	$	267,658	$	15,400	$	66,378	$	974	$	201,280	$	14,426

	At December 31, 2019
	Total					Less than 12 months				12 months or more
				Unrealized				Unrealized				Unrealized
	Count	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
	(Dollars in thousands)
Available for sale securities
Corporate	16	$	123,050	$	6,950	$	—	$	—	$	123,050	$	6,950
Collateralized loan obligations	13		99,137		1,212		25,451		108		73,686		1,104
Total other securities	29		222,187		8,162		25,451		108		196,736		8,054
REMIC and CMO	23		120,989		1,440		102,384		1,117		18,605		323
GNMA	1		49		—		49		—		—		—
FNMA	8		67,618		426		19,073		138		48,545		288
FHLMC	1		30,200		73		—		—		30,200		73
Total mortgage-backed securities	33		218,856		1,939		121,506		1,255		97,350		684
Total securities available for sale	62	$	441,043	$	10,101	$	146,957	$	1,363	$	294,086	$	8,738

Schedule of allowance for credit losses for debt securities held-to-maturity

The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the three months ended June 30, 2020:

	Mortgage-backed securities		Other securities
	(In thousands)
Beginning balance	$	—	$	402
Provision		—		—
Allowance for credit losses - securities	$	—	$	402

The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the six months ended June 30, 2020:

	Mortgage-backed securities		Other securities
	(In thousands)
Beginning balance	$	—	$	—
CECL adoption		—		340
Provision		—		62
Allowance for credit losses - securities	$	—	$	402

Schedule of Realized Gain (Loss) [Table Text Block]

	For the three months ended				For the six months ended
	June 30,				June 30,
	2020		2019		2020		2019
	(In thousands)
Gross gains from the sale of securities	$	763	$	423	$	1,476	$	423
Gross losses from the sale of securities		(817)		(438)		(1,567)		(438)
Net losses from the sale of securities	$	(54)	$	(15)	$	(91)	$	(15)