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v3.21.1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
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, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipals | ​ | $ | 50,827 | ​ | $ | 52,543 | ​ | $ | 1,981 | ​ | $ | 265
Total other securities | ​ |  | 50,827 | ​ |  | 52,543 | ​ |  | 1,981 | ​ |  | 265
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,909 | ​ |  | 8,492 | ​ |  | 583 | ​ |  | —
Total mortgage-backed securities | ​ |  | 7,909 | ​ |  | 8,492 | ​ |  | 583 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (915) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 57,821 | ​ | $ | 61,035 | ​ | $ | 2,564 | ​ | $ | 265
​ The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipals | ​ | $ | 50,825 | ​ | $ | 54,538 | ​ | $ | 3,713 | ​ | $ | —
Total other securities | ​ |  | 50,825 | ​ |  | 54,538 | ​ |  | 3,713 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,914 | ​ |  | 8,991 | ​ |  | 1,077 | ​ |  | —
Total mortgage-backed securities | ​ |  | 7,914 | ​ |  | 8,991 | ​ |  | 1,077 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (907) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 57,832 | ​ | $ | 63,529 | ​ | $ | 4,790 | ​ | $ | —
​ ​ The following table summarizes the Company’s portfolio of securities available for sale at March 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies | ​ | $ | 6,253 | ​ | $ | 6,219 | ​ | $ | — | ​ | $ | 34
Corporate | ​ |  | 130,000 | ​ |  | 129,598 | ​ |  | 538 | ​ |  | 940
Mutual funds | ​ |  | 12,525 | ​ |  | 12,525 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 93,120 | ​ |  | 92,756 | ​ |  | 40 | ​ |  | 404
Other | ​ |  | 1,342 | ​ |  | 1,342 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 243,240 | ​ |  | 242,440 | ​ |  | 578 | ​ |  | 1,378
REMIC and CMO | ​ |  | 210,836 | ​ |  | 213,146 | ​ |  | 3,570 | ​ |  | 1,260
GNMA | ​ |  | 12,600 | ​ |  | 12,339 | ​ |  | 51 | ​ |  | 312
FNMA | ​ |  | 171,453 | ​ |  | 171,074 | ​ |  | 1,817 | ​ |  | 2,196
FHLMC | ​ |  | 124,432 | ​ |  | 122,222 | ​ |  | 472 | ​ |  | 2,682
Total mortgage-backed securities | ​ |  | 519,321 | ​ |  | 518,781 | ​ |  | 5,910 | ​ |  | 6,450
Total securities available for sale | ​ | $ | 762,561 | ​ | $ | 761,221 | ​ | $ | 6,488 | ​ | $ | 7,828
​ The following table summarizes the Company’s portfolio of securities available for sale at December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies | ​ | $ | 6,452 | ​ | $ | 6,453 | ​ | $ | 2 | ​ | $ | 1
Corporate | ​ |  | 130,000 | ​ |  | 123,865 | ​ |  | 131 | ​ |  | 6,266
Mutual funds | ​ |  | 12,703 | ​ |  | 12,703 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 100,561 | ​ |  | 99,198 | ​ |  | — | ​ |  | 1,363
Other | ​ |  | 1,295 | ​ |  | 1,295 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 251,011 | ​ |  | 243,514 | ​ |  | 133 | ​ |  | 7,630
REMIC and CMO | ​ |  | 175,142 | ​ |  | 180,877 | ​ |  | 5,735 | ​ |  | —
GNMA | ​ |  | 13,009 | ​ |  | 13,053 | ​ |  | 66 | ​ |  | 22
FNMA | ​ |  | 143,154 | ​ |  | 146,169 | ​ |  | 3,046 | ​ |  | 31
FHLMC | ​ |  | 63,796 | ​ |  | 64,361 | ​ |  | 648 | ​ |  | 83
Total mortgage-backed securities | ​ |  | 395,101 | ​ |  | 404,460 | ​ |  | 9,495 | ​ |  | 136
Total securities available for sale | ​ | $ | 646,112 | ​ | $ | 647,974 | ​ | $ | 9,628 | ​ | $ | 7,766
Investments Classified by Contractual Maturity Date [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized | ​ | ​ | ​
Securities held-to-maturity: |  | Cost |  | Fair Value
​ |  | (In thousands)
Due after ten years | ​ | $ | 50,827 | ​ | $ | 52,543
Total other securities | ​ | ​ | 50,827 | ​ | ​ | 52,543
Mortgage-backed securities | ​ | ​ | 7,909 | ​ | ​ | 8,492
Total held-to-maturity securities | ​ | ​ | 58,736 | ​ | ​ | 61,035
Allowance for Credit Losses | ​ | ​ | (915) | ​ | ​ | —
Total held-to-maturity securities, net of allowance for credit losses | ​ | $ | 57,821 |  | $ | 61,035
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due after one year through five years | ​ | $ | 45,000 | ​ | $ | 45,181
Due after five years through ten years | ​ |  | 152,453 | ​ |  | 151,553
Due after ten years | ​ | ​ | 33,262 | ​ | ​ | 33,181
Total | ​ |  | 230,715 | ​ |  | 229,915
Mutual funds | ​ |  | 12,525 | ​ |  | 12,525
Total other securities | ​ | ​ | 243,240 | ​ | ​ | 242,440
Mortgage-backed securities | ​ |  | 519,321 | ​ |  | 518,781
Total available for sale securities | ​ | $ | 762,561 | ​ | $ | 761,221
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31, 2021
​ | ​ | 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 | ​ | $ | 19,908 | ​ | $ | 265 | ​ | $ | 19,908 | ​ | $ | 265 | ​ | $ | — | ​ | $ | —
Total other securities |  | 1 | ​ |  | 19,908 | ​ |  | 265 | ​ |  | 19,908 | ​ |  | 265 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities held-to-maturity |  | 1 | ​ | $ | 19,908 | ​ | $ | 265 | ​ | $ | 19,908 | ​ | $ | 265 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies |  | 2 | ​ | $ | 6,205 | ​ | $ | 34 | ​ | $ | 6,205 | ​ | $ | 34 | ​ | $ | — | ​ | $ | —
Corporate |  | 8 | ​ |  | 79,061 | ​ |  | 940 | ​ |  | — | ​ |  | — | ​ |  | 79,061 | ​ |  | 940
Collateralized loan obligations |  | 8 | ​ |  | 56,504 | ​ |  | 404 | ​ |  | — | ​ |  | — | ​ |  | 56,504 | ​ |  | 404
Total other securities |  | 18 | ​ |  | 141,770 | ​ |  | 1,378 | ​ |  | 6,205 | ​ |  | 34 | ​ |  | 135,565 | ​ |  | 1,344
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 8 | ​ |  | 56,685 | ​ |  | 1,260 | ​ |  | 56,685 | ​ |  | 1,260 | ​ |  | — | ​ |  | —
GNMA |  | 2 | ​ |  | 10,932 | ​ |  | 312 | ​ |  | 10,932 | ​ |  | 312 | ​ |  | — | ​ |  | —
FNMA |  | 16 | ​ |  | 116,082 | ​ |  | 2,196 | ​ |  | 116,082 | ​ |  | 2,196 | ​ |  | — | ​ |  | —
FHLMC |  | 13 | ​ |  | 97,765 | ​ |  | 2,682 | ​ |  | 97,765 | ​ |  | 2,682 | ​ |  | — | ​ |  | —
Total mortgage-backed securities |  | 39 | ​ |  | 281,464 | ​ |  | 6,450 | ​ |  | 281,464 | ​ |  | 6,450 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities available for sale |  | 57 | ​ | $ | 423,234 | ​ | $ | 7,828 | ​ | $ | 287,669 | ​ | $ | 6,484 | ​ | $ | 135,565 | ​ | $ | 1,344
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 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 |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies |  | 1 | ​ | $ | 4,988 | ​ | $ | 1 | ​ | $ | 4,988 | ​ | $ | 1 | ​ | $ | — | ​ | $ | —
Corporate |  | 14 | ​ |  | 113,734 | ​ |  | 6,266 | ​ |  | — | ​ |  | — | ​ |  | 113,734 | ​ |  | 6,266
Collateralized loan obligations |  | 13 | ​ |  | 99,199 | ​ |  | 1,363 | ​ |  | 7,441 | ​ |  | 52 | ​ |  | 91,758 | ​ |  | 1,311
Total other securities |  | 28 | ​ |  | 217,921 | ​ |  | 7,630 | ​ |  | 12,429 | ​ |  | 53 | ​ |  | 205,492 | ​ |  | 7,577
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
GNMA |  | 1 | ​ |  | 10,341 | ​ |  | 22 | ​ |  | 10,341 | ​ |  | 22 | ​ |  | — | ​ |  | —
FNMA |  | 5 | ​ |  | 32,463 | ​ |  | 31 | ​ |  | 23,864 | ​ |  | 28 | ​ |  | 8,599 | ​ |  | 3
FHLMC |  | 3 | ​ |  | 30,095 | ​ |  | 83 | ​ |  | 30,095 | ​ |  | 83 | ​ |  | — | ​ |  | —
Total mortgage-backed securities |  | 9 | ​ |  | 72,899 | ​ |  | 136 | ​ |  | 64,300 | ​ |  | 133 | ​ |  | 8,599 | ​ |  | 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities available for sale |  | 37 | ​ | $ | 290,820 | ​ | $ | 7,766 | ​ | $ | 76,729 | ​ | $ | 186 | ​ | $ | 214,091 | ​ | $ | 7,580
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, 2021:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Mortgage-backed securities | ​ | Other securities | ​
​ | ​ | (In thousands) | ​
Beginning balance | ​ | $ | — | ​ | $ | 907 | ​
Provision | ​ | ​ | — | ​ | ​ | 8 | ​
Allowance for credit losses | ​ | $ | — | ​ | $ | 915 | ​
​ 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 | ​ | $ | — | ​ | $ | 402
Schedule of Realized Gain (Loss) [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended
​ | ​ | March 31,
​ |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​
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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