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Securities (Tables) | 6 Months Ended
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Jun. 30, 2022
Notes Tables |
Schedule of portfolio of securities | ​ The following table summarizes the Company’s portfolio of securities held-to-maturity at June 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized
​ |  | Cost |  | Fair Value |  | Gains | ​ | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |
Municipals | ​ | $ | 67,315 | ​ | $ | 57,064 | ​ | $ | — | ​ | $ | 10,251
Total municipals | ​ |  | 67,315 | ​ |  | 57,064 | ​ |  | — | ​ |  | 10,251
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,885 | ​ |  | 7,496 | ​ |  | — | ​ |  | 389
Total mortgage-backed securities | ​ |  | 7,885 | ​ |  | 7,496 | ​ |  | — | ​ |  | 389
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (1,085) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 74,115 | ​ | $ | 64,560 | ​ | $ | — | ​ | $ | 10,640
​ 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 available for sale at June 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
U.S. government agencies | ​ | $ | 84,463 | ​ | $ | 83,039 | ​ | $ | 10 | ​ | $ | 1,434
Corporate | ​ | ​ | 133,927 | ​ | ​ | 124,468 | ​ | ​ | 72 | ​ | ​ | 9,531
Mutual funds | ​ |  | 11,573 | ​ |  | 11,573 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 131,094 | ​ |  | 125,978 | ​ |  | — | ​ |  | 5,116
Other | ​ |  | 1,662 | ​ |  | 1,662 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 362,719 | ​ |  | 346,720 | ​ |  | 82 | ​ |  | 16,081
REMIC and CMO | ​ |  | 187,243 | ​ |  | 169,144 | ​ |  | 6 | ​ |  | 18,105
GNMA | ​ |  | 9,638 | ​ |  | 8,257 | ​ |  | 12 | ​ |  | 1,393
FNMA | ​ |  | 209,747 | ​ |  | 189,975 | ​ |  | 5 | ​ |  | 19,777
FHLMC | ​ |  | 161,015 | ​ |  | 143,558 | ​ |  | 21 | ​ |  | 17,478
Total mortgage-backed securities | ​ |  | 567,643 | ​ |  | 510,934 | ​ |  | 44 | ​ |  | 56,753
Total securities available for sale | ​ | $ | 930,362 | ​ | $ | 857,654 | ​ | $ | 126 | ​ | $ | 72,834
​ 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
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 | ​ | $ | 67,315 | ​ | $ | 57,064
Total other securities | ​ | ​ | 67,315 | ​ | ​ | 57,064
Mortgage-backed securities | ​ | ​ | 7,885 | ​ | ​ | 7,496
​ | ​ | ​ | 75,200 | ​ | ​ | 64,560
​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses | ​ | ​ | (1,085) | ​ | ​ | -
Total securities held-to-maturity |  | $ | 74,115 |  | $ | 64,560
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due in one year or less |  | $ | 10,026 |  | $ | 9,920
Due after one year through five years | ​ | ​ | 99,429 | ​ | ​ | 96,645
Due after five years through ten years | ​ |  | 205,672 | ​ |  | 193,191
Due after ten years | ​ | ​ | 36,019 | ​ | ​ | 35,391
Total other securities | ​ |  | 351,146 | ​ |  | 335,147
Mutual funds | ​ |  | 11,573 | ​ |  | 11,573
Mortgage-backed securities | ​ |  | 567,643 | ​ |  | 510,934
Total securities available for sale | ​ | $ | 930,362 | ​ | $ | 857,654
Schedule of securities with gross unrealized losses and their fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At June 30, 2022
​ | ​ | ​ | ​ | 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 |  | 3 | ​ | $ | 57,064 | ​ | $ | 10,251 | ​ | $ | 57,064 | ​ | $ | 10,251 | ​ | $ | — | ​ | $ | —
Total other securities |  | 3 | ​ |  | 57,064 | ​ |  | 10,251 | ​ |  | 57,064 | ​ |  | 10,251 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA |  | 1 | ​ |  | 7,496 | ​ |  | 389 | ​ |  | 7,496 | ​ |  | 389 | ​ |  | — | ​ |  | —
Total mortgage-backed securities |  | 1 | ​ |  | 7,496 | ​ |  | 389 | ​ |  | 7,496 | ​ |  | 389 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | 4 | ​ | $ | 64,560 | ​ | $ | 10,640 | ​ | $ | 64,560 | ​ | $ | 10,640 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agencies |  | 7 | ​ | $ | 79,004 | ​ | $ | 1,434 | ​ | $ | 79,004 | ​ | $ | 1,434 | ​ | $ | — | ​ | $ | —
Corporate |  | 18 | ​ |  | 115,395 | ​ |  | 9,531 | ​ |  | 85,515 | ​ |  | 6,917 | ​ |  | 29,880 | ​ |  | 2,614
CLO |  | 19 | ​ |  | 125,978 | ​ |  | 5,116 | ​ |  | 105,745 | ​ |  | 4,082 | ​ |  | 20,233 | ​ |  | 1,034
Total other securities |  | 44 | ​ |  | 320,377 | ​ |  | 16,081 | ​ |  | 270,264 | ​ |  | 12,433 | ​ |  | 50,113 | ​ |  | 3,648
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 45 | ​ |  | 167,535 | ​ |  | 18,105 | ​ |  | 112,167 | ​ |  | 9,561 | ​ |  | 55,368 | ​ |  | 8,544
GNMA |  | 4 | ​ |  | 7,964 | ​ |  | 1,393 | ​ |  | 276 | ​ |  | 15 | ​ |  | 7,688 | ​ |  | 1,378
FNMA |  | 48 | ​ |  | 189,798 | ​ |  | 19,777 | ​ |  | 146,971 | ​ |  | 13,508 | ​ |  | 42,827 | ​ |  | 6,269
FHLMC |  | 25 | ​ |  | 141,019 | ​ |  | 17,478 | ​ |  | 77,799 | ​ |  | 6,218 | ​ |  | 63,220 | ​ |  | 11,260
Total mortgage-backed securities |  | 122 | ​ |  | 506,316 | ​ |  | 56,753 | ​ |  | 337,213 | ​ |  | 29,302 | ​ |  | 169,103 | ​ |  | 27,451
Total |  | 166 | ​ | $ | 826,693 | ​ | $ | 72,834 | ​ | $ | 607,477 | ​ | $ | 41,735 | ​ | $ | 219,216 | ​ | $ | 31,099
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 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)
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 |  | 81 | ​ | $ | 565,102 | ​ | $ | 12,220 | ​ | $ | 435,634 | ​ | $ | 7,827 | ​ | $ | 129,468 | ​ | $ | 4,393
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 six months ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2022 |  | 2021 | ​ | 2022 |  | 2021
​ | ​ | (In thousands)
Beginning balance | ​ | $ | 986 | ​ | $ | 915 | ​ | $ | 862 | ​ | $ | 907
Provision (benefit) | ​ |  | 99 | ​ |  | (71) | ​ |  | 223 | ​ |  | (63)
Allowance for credit losses | ​ | $ | 1,085 | ​ | $ | 844 | ​ | $ | 1,085 | ​ | $ | 844
Schedule of gross gains and gross losses realized from the sale of securities available for sale | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended | ​ | For the six months ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross gains from the sale of securities | ​ | $ | — | ​ | $ | 123 | ​ | $ | — | ​ | $ | 123 | ​
Gross losses from the sale of securities | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Net gains from the sale of securities | ​ | $ | — | ​ | $ | 123 | ​ | $ | — | ​ | $ | 123 | ​

X
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