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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)