XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.20.2

Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Securities [Abstract] |
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of AFS Securities | The amortized cost, estimated fair value and unrealized gains (losses) of AFS securities are as follows:
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
As of June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 45,588 |  |  | $ | 39 |  |  | $ | 23 |  |  | $ | 45,604 |
State & municipal |  |  | 2,529 |  |  |  | 160 |  |  |  | - |  |  |  | 2,689 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 445,055 |  |  |  | 19,285 |  |  |  | - |  |  |  | 464,340 |
U.S. government agency securities |  |  | 49,967 |  |  |  | 2,283 |  |  |  | 9 |  |  |  | 52,241 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 382,562 |  |  |  | 8,340 |  |  |  | 4 |  |  |  | 390,898 |
U.S. government agency securities |  |  | 138,187 |  |  |  | 4,352 |  |  |  | 5 |  |  |  | 142,534 |
Corporate |  |  | 10,000 |  |  |  | 137 |  |  |  | - |  |  |  | 10,137 |
Total AFS securities |  | $ | 1,073,888 |  |  | $ | 34,596 |  |  | $ | 41 |  |  | $ | 1,108,443 |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 34,998 |  |  | $ | 3 |  |  | $ | 243 |  |  | $ | 34,758 |
State & municipal |  |  | 2,533 |  |  |  | - |  |  |  | 20 |  |  |  | 2,513 |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 453,614 |  |  |  | 4,982 |  |  |  | 239 |  |  |  | 458,357 |
U.S. government agency securities |  |  | 44,758 |  |  |  | 667 |  |  |  | 156 |  |  |  | 45,269 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 328,499 |  |  |  | 1,949 |  |  |  | 467 |  |  |  | 329,981 |
U.S. government agency securities |  |  | 104,152 |  |  |  | 718 |  |  |  | 408 |  |  |  | 104,462 |
Total AFS securities |  | $ | 968,554 |  |  | $ | 8,319 |  |  | $ | 1,533 |  |  | $ | 975,340 |
Components of Net Realized Gains (Losses) on Sale of AFS Securities | The components of net realized gains (losses) on the sale of AFS securities are as follows. These amounts were reclassified out of accumulated other comprehensive income (loss) (“AOCI”) and into earnings. There were no sales of AFS securities during the three months ended June 30, 2020 and 2019.
|  | Six Months Ended June 30, |
(In thousands) |  | 2020 |  |  | 2019 |
Gross realized gains |  | $ | 3 |  |  | $ | 53 |
Gross realized (losses) |  |  | - |  |  |  | (152 | )
Net AFS realized gains (losses) |  | $ | 3 |  |  | $ | (99 | )
Amortized Cost, Estimated Fair Value, and Unrealized Gains (Losses) of Securities HTM | The amortized cost, estimated fair value and unrealized gains (losses) of securities HTM are as follows:
(In thousands) |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
As of June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 144,556 |  |  | $ | 5,886 |  |  | $ | - |  |  | $ | 150,442 |
U.S. government agency securities |  |  | 12,220 |  |  |  | 938 |  |  |  | - |  |  |  | 13,158 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 145,235 |  |  |  | 5,445 |  |  |  | - |  |  |  | 150,680 |
U.S. government agency securities |  |  | 105,862 |  |  |  | 5,447 |  |  |  | - |  |  |  | 111,309 |
State & municipal |  |  | 191,291 |  |  |  | 6,152 |  |  |  | 10 |  |  |  | 197,433 |
Total HTM securities |  | $ | 599,164 |  |  | $ | 23,868 |  |  | $ | 10 |  |  | $ | 623,022 |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  | $ | 149,448 |  |  | $ | 3,184 |  |  | $ | 155 |  |  | $ | 152,477 |
U.S. government agency securities |  |  | 13,667 |  |  |  | 584 |  |  |  | - |  |  |  | 14,251 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises |  |  | 189,402 |  |  |  | 2,165 |  |  |  | 368 |  |  |  | 191,199 |
U.S. government agency securities |  |  | 110,498 |  |  |  | 3,256 |  |  |  | 100 |  |  |  | 113,654 |
State & municipal |  |  | 167,059 |  |  |  | 2,628 |  |  |  | 6 |  |  |  | 169,681 |
Total HTM securities |  | $ | 630,074 |  |  | $ | 11,817 |  |  | $ | 629 |  |  | $ | 641,262 |
Gains and Losses on Equity Securities | The following tables set forth information with regard to gains and losses on equity securities:
|  | Three Months Ended June 30, |
(In thousands) |  | 2020 |  |  | 2019 |
Net gains and (losses) recognized on equity securities |  | $ | 177 |  |  | $ | (69 | )
Less: Net gains and (losses) recognized during the period on equity securities sold during the period |  |  | - |  |  |  | - |
Unrealized gains and (losses) recognized on equity securities still held |  | $ | 177 |  |  | $ | (69 | )
|  | Six Months Ended June 30, |
(In thousands) |  | 2020 |  |  | 2019 |
Net gains and (losses) recognized on equity securities |  | $ | (638 | ) |  | $ | 87 |
Less: Net gains and (losses) recognized during the period on equity securities sold during the period |  |  | - |  |  |  | - |
Unrealized gains and (losses) recognized on equity securities still held |  | $ | (638 | ) |  | $ | 87 |
Contractual Maturities of Debt Securities | The following tables set forth information with regard to contractual maturities of debt securities at June 30, 2020:
(In thousands) |  | Amortized Cost |  |  | Estimated Fair Value |
AFS debt securities: |  |  |  |  |  |
Within one year |  | $ | 1,137 |  |  | $ | 1,179 |
From one to five years |  |  | 19,997 |  |  |  | 20,682 |
From five to ten years |  |  | 201,736 |  |  |  | 208,054 |
After ten years |  |  | 851,018 |  |  |  | 878,528 |
Total AFS debt securities |  | $ | 1,073,888 |  |  | $ | 1,108,443 |
HTM debt securities: |  |  |  |  |  |  |  |
Within one year |  | $ | 19,161 |  |  | $ | 19,190 |
From one to five years |  |  | 59,201 |  |  |  | 60,404 |
From five to ten years |  |  | 147,566 |  |  |  | 154,845 |
After ten years |  |  | 373,236 |  |  |  | 388,583 |
Total HTM debt securities |  | $ | 599,164 |  |  | $ | 623,022 |
Investment Securities with Unrealized Losses | The following table sets forth information with regard to investment securities with unrealized losses, for which an allowance for credit losses has not been recorded at June 30, 2020, segregated according to the length of time the securities had been in a continuous unrealized loss position:
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
(In thousands) |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |  |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Positions |
As of June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 19,965 |  |  | $ | (23 | ) |  |  | 2 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 19,965 |  |  | $ | (23 | ) |  |  | 2 |
Mortgage-backed |  |  | 46 |  |  |  | - |  |  |  | 2 |  |  |  | 779 |  |  |  | (9 | ) |  |  | 2 |  |  |  | 825 |  |  |  | (9 | ) |  |  | 4 |
Collateralized mortgage obligations |  |  | 583 |  |  |  | (5 | ) |  |  | 1 |  |  |  | 3,043 |  |  |  | (4 | ) |  |  | 1 |  |  |  | 3,626 |  |  |  | (9 | ) |  |  | 2 |
Total securities with unrealized losses |  | $ | 20,594 |  |  | $ | (28 | ) |  |  | 5 |  |  | $ | 3,822 |  |  | $ | (13 | ) |  |  | 3 |  |  | $ | 24,416 |  |  | $ | (41 | ) |  |  | 8 |
HTM securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State & municipal |  | $ | 990 |  |  | $ | (10 | ) |  |  | 1 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 990 |  |  | $ | (10 | ) |  |  | 1 |
Total securities with unrealized losses |  | $ | 990 |  |  | $ | (10 | ) |  |  | 1 |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 990 |  |  | $ | (10 | ) |  |  | 1 |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Federal agency |  | $ | 14,891 |  |  | $ | (109 | ) |  |  | 2 |  |  | $ | 9,866 |  |  | $ | (134 | ) |  |  | 1 |  |  | $ | 24,757 |  |  | $ | (243 | ) |  |  | 3 |
State & municipal |  |  | 2,503 |  |  |  | (20 | ) |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,503 |  |  |  | (20 | ) |  |  | 1 |
Mortgage-backed |  |  | 67,986 |  |  |  | (273 | ) |  |  | 21 |  |  |  | 37,745 |  |  |  | (122 | ) |  |  | 16 |  |  |  | 105,731 |  |  |  | (395 | ) |  |  | 37 |
Collateralized mortgage obligations |  |  | 113,121 |  |  |  | (316 | ) |  |  | 24 |  |  |  | 49,632 |  |  |  | (559 | ) |  |  | 17 |  |  |  | 162,753 |  |  |  | (875 | ) |  |  | 41 |
Total securities with unrealized losses |  | $ | 198,501 |  |  | $ | (718 | ) |  |  | 48 |  |  | $ | 97,243 |  |  | $ | (815 | ) |  |  | 34 |  |  | $ | 295,744 |  |  | $ | (1,533 | ) |  |  | 82 |
HTM securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed |  | $ | - |  |  | $ | - |  |  |  | - |  |  | $ | 25,370 |  |  | $ | (155 | ) |  |  | 2 |  |  | $ | 25,370 |  |  | $ | (155 | ) |  |  | 2 |
Collateralized mortgage obligations |  |  | 18,040 |  |  |  | (181 | ) |  |  | 3 |  |  |  | 22,389 |  |  |  | (287 | ) |  |  | 5 |  |  |  | 40,429 |  |  |  | (468 | ) |  |  | 8 |
State & municipal |  |  | 2,257 |  |  |  | (6 | ) |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,257 |  |  |  | (6 | ) |  |  | 4 |
Total securities with unrealized losses |  | $ | 20,297 |  |  | $ | (187 | ) |  |  | 7 |  |  | $ | 47,759 |  |  | $ | (442 | ) |  |  | 7 |  |  | $ | 68,056 |  |  | $ | (629 | ) |  |  | 14 |

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References No definition available. + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269825-111563 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=121645371&loc=SL120269820-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27232-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration