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Securities (Tables) | 9 Months Ended
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Sep. 30, 2021
Notes Tables |
Schedule of portfolio of securities | ​ The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipals | ​ | $ | 50,832 | ​ | $ | 52,753 | ​ | $ | 2,078 | ​ | $ | 157
Total other securities | ​ |  | 50,832 | ​ |  | 52,753 | ​ |  | 2,078 | ​ |  | 157
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,899 | ​ |  | 8,698 | ​ |  | 799 | ​ |  | —
Total mortgage-backed securities | ​ |  | 7,899 | ​ |  | 8,698 | ​ |  | 799 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (843) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 57,888 | ​ | $ | 61,451 | ​ | $ | 2,877 | ​ | $ | 157
​ 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 September 30, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
Securities available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies | ​ | $ | 5,643 | ​ | $ | 5,645 | ​ | $ | 5 | ​ | $ | 3
Corporate | ​ |  | 107,421 | ​ |  | 105,956 | ​ |  | 189 | ​ |  | 1,654
Mutual funds | ​ |  | 12,572 | ​ |  | 12,572 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 87,167 | ​ |  | 86,933 | ​ |  | 5 | ​ |  | 239
Other | ​ |  | 1,548 | ​ |  | 1,548 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 214,351 | ​ |  | 212,654 | ​ |  | 199 | ​ |  | 1,896
REMIC and CMO | ​ |  | 229,499 | ​ |  | 229,890 | ​ |  | 2,372 | ​ |  | 1,981
GNMA | ​ |  | 11,362 | ​ |  | 11,088 | ​ |  | 38 | ​ |  | 312
FNMA | ​ |  | 194,973 | ​ |  | 195,030 | ​ |  | 1,815 | ​ |  | 1,758
FHLMC | ​ |  | 149,751 | ​ |  | 148,137 | ​ |  | 445 | ​ |  | 2,059
Total mortgage-backed securities | ​ |  | 585,585 | ​ |  | 584,145 | ​ |  | 4,670 | ​ |  | 6,110
Total securities available for sale | ​ | $ | 799,936 | ​ | $ | 796,799 | ​ | $ | 4,869 | ​ | $ | 8,006
​ 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
Schedule of amortized cost and fair value of the Company's securities classified as held-to-maturity and available for sale | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized | ​ | ​ | ​
Securities held-to-maturity: |  | Cost |  | Fair Value
​ |  | (In thousands)
Due after ten years | ​ | $ | 50,832 | ​ | $ | 52,753
Total other securities | ​ | ​ | 50,832 | ​ | ​ | 52,753
Mortgage-backed securities | ​ | ​ | 7,899 | ​ | ​ | 8,698
Total held-to-maturity securities | ​ | ​ | 58,731 | ​ | ​ | 61,451
Allowance for Credit Losses | ​ | ​ | (843) | ​ | ​ | —
Total held-to-maturity securities, net of allowance for credit losses | ​ | $ | 57,888 |  | $ | 61,451
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due after one year through five years | ​ | $ | 20,000 | ​ | $ | 19,932
Due after five years through ten years | ​ |  | 169,572 | ​ |  | 167,957
Due after ten years | ​ | ​ | 12,207 | ​ | ​ | 12,193
Total | ​ |  | 201,779 | ​ |  | 200,082
Mutual funds | ​ |  | 12,572 | ​ |  | 12,572
Total other securities | ​ | ​ | 214,351 | ​ | ​ | 212,654
Mortgage-backed securities | ​ |  | 585,585 | ​ |  | 584,145
Total available for sale securities | ​ | $ | 799,936 | ​ | $ | 796,799
Schedule of securities with gross unrealized losses and their fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At September 30, 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 | ​ | $ | 20,819 | ​ | $ | 157 | ​ | $ | 20,819 | ​ | $ | 157 | ​ | $ | — | ​ | $ | —
Total other securities |  | 1 | ​ |  | 20,819 | ​ |  | 157 | ​ |  | 20,819 | ​ |  | 157 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities held-to-maturity |  | 1 | ​ | $ | 20,819 | ​ | $ | 157 | ​ | $ | 20,819 | ​ | $ | 157 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Government Agencies |  | 1 | ​ | $ | 4,489 | ​ | $ | 3 | ​ | $ | 4,489 | ​ | $ | 3 | ​ | $ | — | ​ | $ | —
Corporate |  | 11 | ​ |  | 80,792 | ​ |  | 1,654 | ​ |  | 51,698 | ​ |  | 748 | ​ |  | 29,094 | ​ |  | 906
Collateralized loan obligations |  | 3 | ​ |  | 21,027 | ​ |  | 239 | ​ |  | — | ​ |  | — | ​ |  | 21,027 | ​ |  | 239
Total other securities |  | 15 | ​ |  | 106,308 | ​ |  | 1,896 | ​ |  | 56,187 | ​ |  | 751 | ​ |  | 50,121 | ​ |  | 1,145
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 12 | ​ |  | 110,359 | ​ |  | 1,981 | ​ |  | 110,359 | ​ |  | 1,981 | ​ |  | — | ​ |  | —
GNMA |  | 2 | ​ |  | 10,196 | ​ |  | 312 | ​ |  | 10,196 | ​ |  | 312 | ​ |  | — | ​ |  | —
FNMA |  | 17 | ​ |  | 136,324 | ​ |  | 1,758 | ​ |  | 136,324 | ​ |  | 1,758 | ​ |  | — | ​ |  | —
FHLMC |  | 15 | ​ |  | 123,759 | ​ |  | 2,059 | ​ |  | 123,759 | ​ |  | 2,059 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total mortgage-backed securities |  | 46 | ​ |  | 380,638 | ​ |  | 6,110 | ​ |  | 380,638 | ​ |  | 6,110 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total securities available for sale |  | 61 | ​ | $ | 486,946 | ​ | $ | 8,006 | ​ | $ | 436,825 | ​ | $ | 6,861 | ​ | $ | 50,121 | ​ | $ | 1,145
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Other Securities | ​
​ | ​ | For the three months ended | ​ | For the nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 | ​
​ | ​ | (In thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 844 | ​ | $ | 402 | ​ | $ | 907 | ​ | $ | 340 | ​
Provision (benefit) | ​ |  | (1) | ​ |  | — | ​ |  | (64) | ​ |  | 62 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses | ​ | $ | 843 | ​ | $ | 402 | ​ | $ | 843 | ​ | $ | 402 | ​
Schedule of gross gains and gross losses realized from the sale of securities available for sale | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | (In thousands)
Gross gains from the sale of securities | ​ | $ | — | ​ | $ | — | ​ | $ | 123 | ​ | $ | 1,476
Gross losses from the sale of securities | ​ |  | (10) | ​ |  | — | ​ |  | (10) | ​ |  | (1,567)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net gains (losses) from the sale of securities | ​ | $ | (10) | ​ | $ | — | ​ | $ | 113 | ​ | $ | (91)

X
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