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Securities (Tables)

9 Months Ended

Sep. 30, 2025

Securities

Schedule of portfolio of securities

The following tables summarize the Company’s portfolio of securities held-to-maturity at:


					Allowance			Net			Gross			Gross
		Amortized			for			Carrying			Unrecognized			Unrecognized
September 30, 2025		Cost			Credit Losses			Amount			Gains			Losses			Fair Value

		(In thousands)
Municipals		$	43,039		$	(351)		$	42,688		$	—		$	(3,492)		$	39,196

FNMA			7,821			—			7,821			—			(633)			7,188

Total		$	50,860		$	(351)		$	50,509		$	—		$	(4,125)		$	46,384


					Allowance			Net			Gross			Gross
		Amortized			for			Carrying			Unrecognized			Unrecognized
December 31, 2024		Cost			Credit Losses			Amount			Gains			Losses			Fair Value

		(In thousands)
Municipals		$	44,002		$	(353)		$	43,649		$	—		$	(5,834)		$	37,815

FNMA			7,836			—			7,836			—			(933)			6,903

Total		$	51,838		$	(353)		$	51,485		$	—		$	(6,767)		$	44,718

The following tables summarize the Company’s portfolio of securities available for sale on:


						Allowance		Gross			Gross
		Amortized				for		Unrealized			Unrealized
September 30, 2025		Cost			Credit Losses			Gains			Losses			Fair Value

		(In thousands)
U.S. government agencies		$	6,836		$	—		$	24		$	(43)		$	6,817
Municipals			20,627			(2,921)			—			(428)			17,278
Corporate			201,329			—			2,381			(3,580)			200,130
Mutual funds			12,502			—			—			—			12,502
Collateralized loan obligations			398,210			—			246			(1,521)			396,935
Other			1,491			—			—			—			1,491
Total other securities			640,995			(2,921)			2,651			(5,572)			635,153
REMIC and CMO			698,119			—			4,140			(326)			701,933
GNMA			42,678			—			215			(20)			42,873
FNMA			70,873			—			490			(7)			71,356
FHLMC			88,840			—			1,268			—			90,108
Total mortgage-backed securities			900,510			—			6,113			(353)			906,270

Total Securities available for sale		$	1,541,505		$	(2,921)		$	8,764		$	(5,925)		$	1,541,423


						Allowance		Gross			Gross
		Amortized				for		Unrealized			Unrealized
December 31, 2024		Cost			Credit Losses			Gains			Losses			Fair Value

		(In thousands)
U.S. government agencies		$	8,804		$	—		$	77		$	(33)		$	8,848
Municipals			20,627			(2,627)			—			—			18,000
Corporate			130,882			—			735			(6,368)			125,249
Mutual funds			11,890			—			—			—			11,890
Collateralized loan obligations			420,260			—			1,126			(569)			420,817
Other			1,465			—			—			—			1,465
Total other securities			593,928			(2,627)			1,938			(6,970)			586,269
REMIC and CMO			707,540			—			1,107			(1,067)			707,580
GNMA			30,099			—			—			(154)			29,945
FNMA			99,183			—			11			(1,048)			98,146
FHLMC			76,048			—			13			(96)			75,965
Total mortgage-backed securities			912,870			—			1,131			(2,365)			911,636

Total securities available for sale		$	1,506,798		$	(2,627)		$	3,069		$	(9,335)		$	1,497,905

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		$	43,039		$	39,196
Total other securities			43,039			39,196
Mortgage-backed securities			7,821			7,188
Total securities held-to-maturity		$	50,860		$	46,384


		Amortized
Securities available for sale:		Cost			Fair Value

		(In thousands)
Due after one year through five years		$	70,359		$	69,312
Due after five years through ten years			191,469			191,305
Due after ten years			366,665			362,034
Total other securities			628,493			622,651
Mutual funds			12,502			12,502
Mortgage-backed securities			900,510			906,270
Total securities available for sale		$	1,541,505		$	1,541,423

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]


		At September 30, 2025
				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
FNMA		1			7,188			(633)			—			—			7,188			(633)
Total mortgage-backed securities		1			7,188			(633)			—			—			7,188			(633)

Total		1		$	7,188		$	(633)		$	—		$	—		$	7,188		$	(633)

Available for sale securities
U.S. government agencies		3		$	4,096		$	(43)		$	1,198		$	(11)		$	2,898		$	(32)
Corporate		13			96,871			(3,580)			6,234			(11)			90,637			(3,569)
Collateralized loan obligations		19			227,226			(1,521)			99,785			(331)			127,441			(1,190)
Total other securities		35			328,193			(5,144)			107,217			(353)			220,976			(4,791)

REMIC and CMO		10			86,741			(326)			39,701			(119)			47,040			(207)
GNMA		1			15,027			(20)			15,027			(20)			—			—
FNMA		1			14,341			(7)			14,341			(7)			—			—
Total mortgage-backed securities		12			116,109			(353)			69,069			(146)			47,040			(207)
Total securities available for sale		47		$	444,302		$	(5,497)		$	176,286		$	(499)		$	268,016		$	(4,998)


		At December 31, 2024
				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
FNMA		1			6,903			(933)			—			—			6,903			(933)
Total mortgage-backed securities		1			6,903			(933)			—			—			6,903			(933)

Total		1		$	6,903		$	(933)		$	—		$	—		$	6,903		$	(933)

Available for sale securities
U.S. government agencies		2		$	3,339		$	(33)		$	—		$	—		$	3,339		$	(33)
Corporate		13			95,758			(6,368)			—			—			95,758			(6,368)
Collateralized loan obligations		18			201,470			(569)			201,470			(569)			—			—
Total other securities		33			300,567			(6,970)			201,470			(569)			99,097			(6,401)

REMIC and CMO		19			287,948			(1,067)			281,570			(936)			6,378			(131)
GNMA		4			29,945			(154)			28,443			(134)			1,502			(20)
FNMA		6			97,417			(1,048)			97,417			(1,048)			—			—
FHLMC		3			56,540			(96)			56,540			(96)			—			—
Total mortgage-backed securities		32			471,850			(2,365)			463,970			(2,214)			7,880			(151)
Total		65		$	772,417		$	(9,335)		$	665,440		$	(2,783)		$	106,977		$	(6,552)

Schedule of allowance for credit losses for debt securities held-to-maturity


	For the three months ended						For the nine months ended
	September 30,						September 30,
	2025			2024			2025			2024

	(In thousands)
Beginning balance	$	355		$	1,089		$	353		$	1,087
Provision (benefit)		(4)			(3)			(2)			(1)
Allowance for credit losses	$	351		$	1,086		$	351		$	1,086

Schedule of allowance for credit losses for debt securities available for sale


	For the three months ended						For the nine months ended
	September 30,						September 30,
	2025			2024			2025			2024

	(In thousands)
Beginning balance	$	3,066		$	—		$	2,627		$	—
Provision (benefit)		(145)			—			294			—
Allowance for credit losses	$	2,921		$	—		$	2,921		$	—

Schedule of gross gains and gross losses realized from the sale of securities available for sale

The following table represents the gross gains and gross losses realized from the sale of securities available for sale for the periods indicated:
		For the three months ended						For the nine months ended
		September 30,						September 30,
		2025			2024			2025			2024

		(In thousands)
Gross gains from the sale of securities		$	661		$	—		$	661		$	—
Gross losses from the sale of securities			—			—			—			—
Net gain (loss) from the sale of securities		$	661		$	—		$	661		$	—