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v3.20.2

Securities (Tables) | 9 Months Ended
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Sep. 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 September 30, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | Allowance
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized | ​ | for Credit
​ |  | Cost |  | Fair Value |  | Gains |  | Losses |  | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipals | ​ | $ | 50,654 | ​ | $ | 53,268 | ​ | $ | 2,614 | ​ | $ | — | ​ | $ | (402)
Total other securities | ​ |  | 50,654 | ​ |  | 53,268 | ​ |  | 2,614 | ​ |  | — | ​ |  | (402)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,919 | ​ |  | 9,198 | ​ |  | 1,279 | ​ |  | — | ​ |  | —
Total mortgage-backed securities | ​ |  | 7,919 | ​ |  | 9,198 | ​ |  | 1,279 | ​ |  | — | ​ |  | —
Total | ​ | $ | 58,573 | ​ | $ | 62,466 | ​ | $ | 3,893 | ​ | $ | — | ​ | $ | (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 September 30, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate | ​ | $ | 130,000 | ​ | $ | 123,516 | ​ | $ | 192 | ​ | $ | 6,676
Municipals | ​ |  | 65 | ​ |  | 65 | ​ |  | — | ​ |  | —
Mutual funds | ​ |  | 12,691 | ​ |  | 12,691 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 100,473 | ​ |  | 97,300 | ​ |  | — | ​ |  | 3,173
Other | ​ |  | 1,149 | ​ |  | 1,149 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 244,378 | ​ |  | 234,721 | ​ |  | 192 | ​ |  | 9,849
REMIC and CMO | ​ |  | 206,973 | ​ |  | 213,941 | ​ |  | 7,007 | ​ |  | 39
GNMA | ​ |  | 505 | ​ |  | 554 | ​ |  | 49 | ​ |  | —
FNMA | ​ |  | 129,140 | ​ |  | 132,001 | ​ |  | 2,883 | ​ |  | 22
FHLMC | ​ |  | 39,266 | ​ |  | 39,739 | ​ |  | 504 | ​ |  | 31
Total mortgage-backed securities | ​ |  | 375,884 | ​ |  | 386,235 | ​ |  | 10,443 | ​ |  | 92
Total securities available for sale | ​ | $ | 620,262 | ​ | $ | 620,956 | ​ | $ | 10,635 | ​ | $ | 9,941
​ 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 after ten years | ​ | $ | 50,654 | ​ | $ | 53,268
Total other securities | ​ | ​ | 50,654 | ​ | ​ | 53,268
Mortgage-backed securities | ​ | ​ | 7,919 | ​ | ​ | 9,198
Total | ​ | $ | 58,573 |  | $ | 62,466
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due after one year through five years | ​ | $ | 45,000 | ​ | $ | 43,654
Due after five years through ten years | ​ |  | 110,431 | ​ |  | 104,599
Due after ten years | ​ | ​ | 76,256 | ​ | ​ | 73,777
Total other securities | ​ |  | 231,687 | ​ |  | 222,030
Mutual funds | ​ |  | 12,691 | ​ |  | 12,691
Mortgage-backed securities | ​ |  | 375,884 | ​ |  | 386,235
Total | ​ | $ | 620,262 | ​ | $ | 620,956
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At September 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)
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate |  | 14 | ​ | $ | 113,324 | ​ | $ | 6,676 | ​ | $ | — | ​ | $ | — | ​ | $ | 113,324 | ​ | $ | 6,676
Collateralized loan obligations |  | 13 | ​ |  | 97,299 | ​ |  | 3,173 | ​ |  | 7,293 | ​ |  | 183 | ​ |  | 90,006 | ​ |  | 2,990
Total other securities |  | 27 | ​ |  | 210,623 | ​ |  | 9,849 | ​ |  | 7,293 | ​ |  | 183 | ​ |  | 203,330 | ​ |  | 9,666
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 2 | ​ |  | 5,663 | ​ |  | 39 | ​ |  | 5,663 | ​ |  | 39 | ​ |  | — | ​ |  | —
GNMA (1) |  | 1 | ​ |  | 48 | ​ |  | — | ​ |  | 48 | ​ |  | — | ​ |  | — | ​ |  | —
FNMA |  | 1 | ​ |  | 8,652 | ​ |  | 22 | ​ |  | — | ​ |  | — | ​ |  | 8,652 | ​ |  | 22
FHLMC |  | 1 | ​ |  | 13,449 | ​ |  | 31 | ​ |  | 13,449 | ​ |  | 31 | ​ |  | — | ​ |  | —
Total mortgage-backed securities |  | 5 | ​ |  | 27,812 | ​ |  | 92 | ​ |  | 19,160 | ​ |  | 70 | ​ |  | 8,652 | ​ |  | 22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities available for sale |  | 32 | ​ | $ | 238,435 | ​ | $ | 9,941 | ​ | $ | 26,453 | ​ | $ | 253 | ​ | $ | 211,982 | ​ | $ | 9,688
(1) | At September 30, 2020, the unrealized loss was less than $1,000 and in a continuous loss position for less than 12 months.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 September 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 nine months ended September 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 nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
​ | ​ | (In thousands)
Gross gains from the sale of securities | ​ | $ | — | ​ | $ | — | ​ | $ | 1,476 | ​ | $ | 423
Gross losses from the sale of securities | ​ |  | — | ​ |  | — | ​ |  | (1,567) | ​ |  | (438)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net losses from the sale of securities | ​ | $ | — | ​ | $ | — | ​ | $ | (91) | ​ | $ | (15)

X
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