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Securities (Tables) | 12 Months Ended
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Dec. 31, 2021
Notes Tables |
Schedule of portfolio of securities | The following table summarizes the Company’s portfolio of securities held-to-maturity at December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized | ​
​ |  | Cost |  | Fair Value |  | Gains | ​ | Losses |
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
Municipals | ​ | $ | 50,836 | ​ | $ | 53,362 | ​ | $ | 2,526 | ​ | $ | — | ​
Total municipals | ​ |  | 50,836 | ​ |  | 53,362 | ​ |  | 2,526 | ​ |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,894 | ​ |  | 8,667 | ​ |  | 773 | ​ |  | — | ​
Total mortgage-backed securities | ​ |  | 7,894 | ​ |  | 8,667 | ​ |  | 773 | ​ |  | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (862) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Total | ​ | $ | 57,868 | ​ | $ | 62,029 | ​ | $ | 3,299 | ​ | $ | — | ​
​ 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 municipals | ​ |  | 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 December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
U.S. government agencies | ​ | $ | 5,599 | ​ | $ | 5,590 | ​ | $ | — | ​ | $ | 9
Corporate | ​ | ​ | 107,423 | ​ | ​ | 104,370 | ​ | ​ | 136 | ​ | ​ | 3,189
Mutual funds | ​ |  | 12,485 | ​ |  | 12,485 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 81,166 | ​ |  | 80,912 | ​ |  | 1 | ​ |  | 255
Other | ​ |  | 1,695 | ​ |  | 1,695 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 208,368 | ​ |  | 205,052 | ​ |  | 137 | ​ |  | 3,453
REMIC and CMO | ​ |  | 210,948 | ​ |  | 208,509 | ​ |  | 1,217 | ​ |  | 3,656
GNMA | ​ |  | 10,572 | ​ |  | 10,286 | ​ |  | 30 | ​ |  | 316
FNMA | ​ |  | 203,777 | ​ |  | 202,938 | ​ |  | 1,321 | ​ |  | 2,160
FHLMC | ​ |  | 152,760 | ​ |  | 150,451 | ​ |  | 326 | ​ |  | 2,635
Total mortgage-backed securities | ​ |  | 578,057 | ​ |  | 572,184 | ​ |  | 2,894 | ​ |  | 8,767
Total securities available for sale | ​ | $ | 786,425 | ​ | $ | 777,236 | ​ | $ | 3,031 | ​ | $ | 12,220
​ 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)
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 | ​ | ​ | ​
​ |  | Cost |  | Fair Value
​ |  | (In thousands)
Due after ten years | ​ | $ | 50,836 | ​ | $ | 53,362
Total other securities | ​ | ​ | 50,836 | ​ | ​ | 53,362
Mortgage-backed securities | ​ | ​ | 7,894 | ​ | ​ | 8,667
​ | ​ | ​ | 58,730 | ​ | ​ | 62,029
​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses | ​ | ​ | (862) | ​ | ​ | -
Total securities held-to-maturity |  | $ | 57,868 |  | $ | 62,029
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
​ |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due after one year through five years | ​ | $ | 20,000 | ​ | $ | 19,865
Due after five years through ten years | ​ |  | 163,572 | ​ |  | 160,417
Due after ten years | ​ | ​ | 12,311 | ​ | ​ | 12,285
Total other securities | ​ |  | 195,883 | ​ |  | 192,567
Mutual funds | ​ |  | 12,485 | ​ |  | 12,485
Mortgage-backed securities | ​ |  | 578,057 | ​ |  | 572,184
Total securities available for sale | ​ | $ | 786,425 | ​ | $ | 777,236
Schedule of securities with gross unrealized losses and their fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 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 |  | 2 | ​ | $ | 5,577 | ​ | $ | 9 | ​ | $ | 1,130 | ​ | $ | 5 | ​ | $ | 4,447 | ​ | $ | 4
Corporate |  | 13 | ​ |  | 94,234 | ​ |  | 3,189 | ​ |  | 65,453 | ​ |  | 1,970 | ​ |  | 28,781 | ​ |  | 1,219
CLO |  | 4 | ​ |  | 31,012 | ​ |  | 255 | ​ |  | 10,000 | ​ |  | 1 | ​ |  | 21,012 | ​ |  | 254
Total other securities |  | 19 | ​ |  | 130,823 | ​ |  | 3,453 | ​ |  | 76,583 | ​ |  | 1,976 | ​ |  | 54,240 | ​ |  | 1,477
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 15 | ​ |  | 124,131 | ​ |  | 3,656 | ​ |  | 105,959 | ​ |  | 2,800 | ​ |  | 18,172 | ​ |  | 856
GNMA |  | 4 | ​ |  | 9,924 | ​ |  | 316 | ​ |  | 1,138 | ​ |  | 16 | ​ |  | 8,786 | ​ |  | 300
FNMA |  | 25 | ​ |  | 171,109 | ​ |  | 2,160 | ​ |  | 153,657 | ​ |  | 1,587 | ​ |  | 17,452 | ​ |  | 573
FHLMC |  | 18 | ​ |  | 129,115 | ​ |  | 2,635 | ​ |  | 98,297 | ​ |  | 1,448 | ​ |  | 30,818 | ​ |  | 1,187
Total mortgage-backed securities |  | 62 | ​ |  | 434,279 | ​ |  | 8,767 | ​ |  | 359,051 | ​ |  | 5,851 | ​ |  | 75,228 | ​ |  | 2,916
Total securities available for sale |  | 81 | ​ | $ | 565,102 | ​ | $ | 12,220 | ​ | $ | 435,634 | ​ | $ | 7,827 | ​ | $ | 129,468 | ​ | $ | 4,393
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 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
CLO |  | 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 year ended December 31,
​ | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 907 | ​ | $ | —
CECL adoption | ​ | ​ | — | ​ | ​ | 340
Provision (benefit) for credit losses | ​ | ​ | (45) | ​ | ​ | 567
Allowance for credit losses - securities | ​ | $ | 862 | ​ | $ | 907
Schedule of gross gains and gross losses realized from the sale of securities available for sale | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended
​ | ​ | December 31,
​ |  | 2021 |  | 2020 |  | 2019
​ | ​ | (In thousands)
Gross gains from the sale of securities | ​ | $ | 123 | ​ | $ | 1,499 | ​ | $ | 423
Gross losses from the sale of securities | ​ |  | (10) | ​ |  | (2,200) | ​ |  | (438)
Net losses from the sale of securities | ​ | $ | 113 | ​ | $ | (701) | ​ | $ | (15)

X
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