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v3.22.2.2

Securities (Tables) | 9 Months Ended
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Sep. 30, 2022
Notes Tables |
Schedule of portfolio of securities | ​ The following table summarizes the Company’s portfolio of securities held-to-maturity at September 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrecognized | ​ | Unrecognized
​ |  | Cost |  | Fair Value |  | Gains | ​ | Losses
​ | ​ | (In thousands)
Securities held-to-maturity: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |
Municipals | ​ | $ | 67,128 | ​ | $ | 52,727 | ​ | $ | — | ​ | $ | 14,401
Total municipals | ​ |  | 67,128 | ​ |  | 52,727 | ​ |  | — | ​ |  | 14,401
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA | ​ |  | 7,880 | ​ |  | 6,986 | ​ |  | — | ​ |  | 894
Total mortgage-backed securities | ​ |  | 7,880 | ​ |  | 6,986 | ​ |  | — | ​ |  | 894
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for Credit Losses | ​ | ​ | (1,096) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 73,912 | ​ | $ | 59,713 | ​ | $ | — | ​ | $ | 15,295
​ 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 September 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross
​ | ​ | Amortized | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized
​ |  | Cost |  | Fair Value |  | Gains |  | Losses
​ | ​ | (In thousands)
U.S. government agencies | ​ | $ | 84,400 | ​ | $ | 81,591 | ​ | $ | 11 | ​ | $ | 2,820
Corporate | ​ | ​ | 146,428 | ​ | ​ | 132,499 | ​ | ​ | — | ​ | ​ | 13,929
Mutual funds | ​ |  | 11,131 | ​ |  | 11,131 | ​ |  | — | ​ |  | —
Collateralized loan obligations | ​ |  | 130,371 | ​ |  | 124,780 | ​ |  | — | ​ |  | 5,591
Other | ​ |  | 1,494 | ​ |  | 1,494 | ​ |  | — | ​ |  | —
Total other securities | ​ |  | 373,824 | ​ |  | 351,495 | ​ |  | 11 | ​ |  | 22,340
REMIC and CMO | ​ |  | 181,595 | ​ |  | 155,954 | ​ |  | — | ​ |  | 25,641
GNMA | ​ |  | 9,385 | ​ |  | 7,400 | ​ |  | 4 | ​ |  | 1,989
FNMA | ​ |  | 204,305 | ​ |  | 174,122 | ​ |  | — | ​ |  | 30,183
FHLMC | ​ |  | 156,524 | ​ |  | 130,890 | ​ |  | — | ​ |  | 25,634
Total mortgage-backed securities | ​ |  | 551,809 | ​ |  | 468,366 | ​ |  | 4 | ​ |  | 83,447
Total securities available for sale | ​ | $ | 925,633 | ​ | $ | 819,861 | ​ | $ | 15 | ​ | $ | 105,787
​ 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 | ​ | $ | 67,128 | ​ | $ | 52,727
Total other securities | ​ | ​ | 67,128 | ​ | ​ | 52,727
Mortgage-backed securities | ​ | ​ | 7,880 | ​ | ​ | 6,986
​ | ​ | ​ | 75,008 | ​ | ​ | 59,713
​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses | ​ | ​ | (1,096) | ​ | ​ | -
Total securities held-to-maturity |  | $ | 73,912 |  | $ | 59,713
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | ​ | ​
Securities available for sale: |  | Cost |  | Fair Value
​ | ​ | (In thousands)
Due in one year or less |  | $ | 10,016 |  | $ | 9,907
Due after one year through five years | ​ | ​ | 134,500 | ​ | ​ | 127,090
Due after five years through ten years | ​ | ​ | 195,895 | ​ |  | 181,787
Due after ten years | ​ | ​ | 22,282 | ​ | ​ | 21,580
Total other securities | ​ |  | 362,693 | ​ |  | 340,364
Mutual funds | ​ |  | 11,131 | ​ |  | 11,131
Mortgage-backed securities | ​ |  | 551,809 | ​ |  | 468,366
Total securities available for sale | ​ | $ | 925,633 | ​ | $ | 819,861
Schedule of securities with gross unrealized losses and their fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At September 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 | ​ | $ | 52,727 | ​ | $ | 14,401 | ​ | $ | 52,727 | ​ | $ | 14,401 | ​ | $ | — | ​ | $ | —
Total other securities |  | 3 | ​ |  | 52,727 | ​ |  | 14,401 | ​ |  | 52,727 | ​ |  | 14,401 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FNMA |  | 1 | ​ |  | 6,986 | ​ |  | 894 | ​ |  | 6,986 | ​ |  | 894 | ​ |  | — | ​ |  | —
Total mortgage-backed securities |  | 1 | ​ |  | 6,986 | ​ |  | 894 | ​ |  | 6,986 | ​ |  | 894 | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | 4 | ​ | $ | 59,713 | ​ | $ | 15,295 | ​ | $ | 59,713 | ​ | $ | 15,295 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale securities |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agencies |  | 7 | ​ | $ | 77,678 | ​ | $ | 2,820 | ​ | $ | 77,678 | ​ | $ | 2,820 | ​ | $ | — | ​ | $ | —
Corporate |  | 19 | ​ |  | 119,999 | ​ |  | 13,929 | ​ |  | 43,114 | ​ |  | 3,386 | ​ |  | 76,885 | ​ |  | 10,543
CLO |  | 19 | ​ |  | 124,780 | ​ |  | 5,591 | ​ |  | 104,671 | ​ |  | 4,448 | ​ |  | 20,109 | ​ |  | 1,143
Total other securities |  | 45 | ​ |  | 322,457 | ​ |  | 22,340 | ​ |  | 225,463 | ​ |  | 10,654 | ​ |  | 96,994 | ​ |  | 11,686
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
REMIC and CMO |  | 47 | ​ |  | 155,637 | ​ |  | 25,641 | ​ |  | 61,979 | ​ |  | 5,523 | ​ |  | 93,658 | ​ |  | 20,118
GNMA |  | 9 | ​ |  | 7,237 | ​ |  | 1,989 | ​ |  | 337 | ​ |  | 31 | ​ |  | 6,900 | ​ |  | 1,958
FNMA |  | 51 | ​ |  | 174,122 | ​ |  | 30,183 | ​ |  | 58,057 | ​ |  | 7,479 | ​ |  | 116,065 | ​ |  | 22,704
FHLMC |  | 26 | ​ |  | 130,891 | ​ |  | 25,634 | ​ |  | 40,649 | ​ |  | 4,754 | ​ |  | 90,242 | ​ |  | 20,880
Total mortgage-backed securities |  | 133 | ​ |  | 467,887 | ​ |  | 83,447 | ​ |  | 161,022 | ​ |  | 17,787 | ​ |  | 306,865 | ​ |  | 65,660
Total |  | 178 | ​ | $ | 790,344 | ​ | $ | 105,787 | ​ | $ | 386,485 | ​ | $ | 28,441 | ​ | $ | 403,859 | ​ | $ | 77,346
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 nine months ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2022 |  | 2021 | ​ | 2022 |  | 2021
​ | ​ | (In thousands)
Beginning balance | ​ | $ | 1,085 | ​ | $ | 844 | ​ | $ | 862 | ​ | $ | 907
Provision (benefit) | ​ |  | 11 | ​ |  | (1) | ​ |  | 234 | ​ |  | (64)
Allowance for credit losses | ​ | $ | 1,096 | ​ | $ | 843 | ​ | $ | 1,096 | ​ | $ | 843
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, | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross gains from the sale of securities | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 123 | ​
Gross losses from the sale of securities | ​ |  | — | ​ |  | (10) | ​ |  | — | ​ |  | (10) | ​
Net gains from the sale of securities | ​ | $ | — | ​ | $ | (10) | ​ | $ | — | ​ | $ | 113 | ​

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