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v3.20.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 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 March 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | Allowance
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized | ​ | for Credit
​ |  | Cost |  | Fair Value |  | Gains |  | Losses |  | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipals | ​ | $ | 50,627 | ​ | $ | 51,938 | ​ | $ | 1,311 | ​ | $ | — | ​ | $ | (402)
Total other securities | ​ |  | 50,627 | ​ |  | 51,938 | ​ |  | 1,311 | ​ |  | — | ​ |  | (402)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,929 | ​ |  | 8,953 | ​ |  | 1,024 | ​ |  | — | ​ |  | —
Total mortgage-backed securities | ​ |  | 7,929 | ​ |  | 8,953 | ​ |  | 1,024 | ​ |  | — | ​ |  | —
Total | ​ | $ | 58,556 | ​ | $ | 60,891 | ​ | $ | 2,335 | ​ | $ | — | ​ | $ | (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 March 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 130,000 | ​ | $ | 111,852 | ​ | $ | — | ​ | $ | 18,148
Municipals | ​ |  | 12,743 | ​ |  | 12,801 | ​ |  | 58 | ​ |  | —
Mutual funds | ​ |  | 12,476 | ​ |  | 12,476 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 100,361 | ​ |  | 87,372 | ​ |  | — | ​ |  | 12,989
Other | ​ |  | 1,355 | ​ |  | 1,355 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 256,935 | ​ |  | 225,856 | ​ |  | 58 | ​ |  | 31,137
REMIC and CMO | ​ |  | 341,170 | ​ |  | 348,109 | ​ |  | 7,329 | ​ |  | 390
GNMA | ​ |  | 602 | ​ |  | 659 | ​ |  | 57 | ​ |  | —
FNMA | ​ |  | 99,676 | ​ |  | 102,224 | ​ |  | 2,572 | ​ |  | 24
FHLMC | ​ |  | 37,630 | ​ |  | 38,564 | ​ |  | 934 | ​ |  | —
Total mortgage-backed securities | ​ |  | 479,078 | ​ |  | 489,556 | ​ |  | 10,892 | ​ |  | 414
Total securities available for sale | ​ | $ | 736,013 | ​ | $ | 715,412 | ​ | $ | 10,950 | ​ | $ | 31,551
​ 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 | ​ | ​ | 50,627 | ​ | ​ | 51,938
Total other securities | ​ | ​ | 50,627 | ​ | ​ | 51,938
Mortgage-backed securities | ​ | ​ | 7,929 | ​ | ​ | 8,953
Total | ​ | $ | 58,556 |  | $ | 60,891
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due after one year through five years | ​ | $ | 20,000 | ​ | $ | 18,276
Due after five years through ten years | ​ |  | 127,923 | ​ |  | 109,510
Due after ten years | ​ | ​ | 96,536 | ​ | ​ | 85,594
Total other securities | ​ |  | 244,459 | ​ |  | 213,380
Mutual funds | ​ |  | 12,476 | ​ |  | 12,476
Mortgage-backed securities | ​ |  | 479,078 | ​ |  | 489,556
Total | ​ | $ | 736,013 | ​ | $ | 715,412
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31, 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)
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Corporate |  | 16 | ​ | $ | 111,853 | ​ | $ | 18,148 | ​ | $ | 9,620 | ​ | $ | 380 | ​ | $ | 102,233 | ​ | $ | 17,768
Collateralized loan obligations |  | 13 | ​ |  | 87,372 | ​ |  | 12,989 | ​ |  | 22,521 | ​ |  | 3,046 | ​ |  | 64,851 | ​ |  | 9,943
Total other securities |  | 29 | ​ |  | 199,225 | ​ |  | 31,137 | ​ |  | 32,141 | ​ |  | 3,426 | ​ |  | 167,084 | ​ |  | 27,711
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 12 | ​ |  | 67,416 | ​ |  | 390 | ​ |  | 64,541 | ​ |  | 371 | ​ |  | 2,875 | ​ |  | 19
FNMA |  | 1 | ​ |  | 8,812 | ​ |  | 24 | ​ |  | — | ​ |  | — | ​ |  | 8,812 | ​ |  | 24
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total mortgage-backed securities |  | 13 | ​ |  | 76,228 | ​ |  | 414 | ​ |  | 64,541 | ​ |  | 371 | ​ |  | 11,687 | ​ |  | 43
Total |  | 42 | ​ | $ | 275,453 | ​ | $ | 31,551 | ​ | $ | 96,682 | ​ | $ | 3,797 | ​ | $ | 178,771 | ​ | $ | 27,754
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 March 31, 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
​ | ​ | March 31,
​ |  | 2020 |  | 2019
​ | ​ | ​ | ​ | ​ | ​ | ​
Gross gains from the sale of securities | ​ | $ | 713 | ​ | $ | —
Gross losses from the sale of securities | ​ |  | (750) | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Net losses from the sale of securities | ​ | $ | (37) | ​ | $ | —

X
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