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Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Available for Sale ("AFS") Securities
The amortized cost, estimated fair value and unrealized gains (losses) of available for sale (“AFS”) securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of September 30, 2023
                        
U.S. treasury
   $ 133,160     $ -     $ (11,565 )   $ 121,595  
Federal agency
    
248,392
      
-
      
(44,636
)
    
203,756
  
State & municipal
    
96,449
      
-
      
(13,164
)
    
83,285
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
412,257
      
-
      
(61,231
)
    
351,026
  
U.S. government agency securities
    
74,812
      
6
      
(10,076
)
    
64,742
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
463,436
      
2
      
(63,389
)
    
400,049
  
U.S. government agency securities
    
164,418
      
-
      
(31,056
)
    
133,362
  
Corporate
    
48,432
      
-
      
(7,215
)
    
41,217
  
Total AFS securities
  
$
1,641,356
    
$
8
    
$
(242,332
)
  
$
1,399,032
  
As of December 31, 2022
                                
U.S. treasury
   $ 132,891     $ -     $ (11,233 )   $ 121,658  
Federal agency
    
248,419
      
-
      
(42,000
)
    
206,419
  
State & municipal
    
97,036
      
5
      
(14,190
)
    
82,851
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
454,177
      
9
      
(54,675
)
    
399,511
  
U.S. government agency securities
    
81,844
      
15
      
(7,676
)
    
74,183
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
498,021
      
9
      
(59,473
)
    
438,557
  
U.S. government agency securities
    
171,090
      
-
      
(21,284
)
    
149,806
  
Corporate
    
60,404
      
-
      
(6,164
)
    
54,240
  
Total AFS securities
  
$
1,743,882
    
$
38
    
$
(216,695
)
  
$
1,527,225
  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Held to Maturity ("HTM") Securities
The amortized cost, estimated fair value and unrealized gains (losses) of held to maturity (“HTM”) securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of September 30, 2023
                        
Federal agency
  
$
100,000
    
$
-
    
$
(23,003
)
  
$
76,997
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
233,580
      
-
      
(45,066
)
    
188,514
  
U.S. government agency securities
    
17,094
      
-
      
(1,328
)
    
15,766
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
192,243
      
-
      
(18,562
)
    
173,681
  
U.S. government agency securities
    
64,537
      
-
      
(13,259
)
    
51,278
  
State & municipal
    
307,066
      
-
      
(29,316
)
    
277,750
  
Total HTM securities
  
$
914,520
    
$
-
    
$
(130,534
)
  
$
783,986
  
As of December 31, 2022
                                
Federal agency
  
$
100,000
    
$
-
    
$
(20,678
)
  
$
79,322
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
249,511
      
-
      
(36,819
)
    
212,692
  
U.S. government agency securities
    
18,396
      
4
      
(619
)
    
17,781
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
207,738
      
200
      
(14,876
)
    
193,062
  
U.S. government agency securities
    
66,628
      
-
      
(9,842
)
    
56,786
  
State & municipal
    
277,244
      
5
      
(24,245
)
    
253,004
  
Total HTM securities
  
$
919,517
    
$
209
    
$
(107,079
)
  
$
812,647
  
Gains and (Losses) on Equity Securities
The following tables set forth information with regard to gains and (losses) on equity securities:

 
Three Months Ended
September 30,
  
(In thousands)
  
2023
    
2022
  
Net (losses) recognized on equity securities
  
$
(183
)
  
$
(148
)
Less: Net (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized (losses) recognized on equity securities still held
  
$
(183
)
  
$
(148
)

 
Nine Months Ended
September 30,
  
(In thousands)
  
2023
    
2022
  
Net (losses) recognized on equity securities
  
$
(372
)
  
$
(918
)
Less: Net (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized (losses) recognized on equity securities still held
  
$
(372
)
  
$
(918
)
Contractual Maturities of Debt Securities
The following table sets forth information with regard to contractual maturities of debt securities at September 30, 2023:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
16,971
    
$
16,676
  
From one to five years
    
509,520
      
447,316
  
From five to ten years
    
423,813
      
359,342
  
After ten years
    
691,052
      
575,698
  
Total AFS debt securities
  
$
1,641,356
    
$
1,399,032
  
HTM debt securities:
                
Within one year
  
$
88,319
    
$
88,240
  
From one to five years
    
100,237
      
95,052
  
From five to ten years
    
279,872
      
234,309
  
After ten years
    
446,092
      
366,385
  
Total HTM debt securities
  
$
914,520
    
$
783,986
  
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, 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 September 30, 2023
                                                      
AFS securities:
  
                                                 
U.S. treasury
   $ -     $ -       -     $ 121,595     $ (11,565 )     8     $ 121,595     $ (11,565 )     8  
Federal agency
    
-
      
-
      
-
      
203,756
      
(44,636
)
    
16
      
203,756
      
(44,636
)
    
16
  
State & municipal
    
747
      
(21
)
    
1
      
82,538
      
(13,143
)
    
66
      
83,285
      
(13,164
)
    
67
  
Mortgage-backed
    
463
      
(7
)
    
25
      
414,686
      
(71,300
)
    
157
      
415,149
      
(71,307
)
    
182
  
Collateralized mortgage obligations
    
3,825
      
(31
)
    
6
      
528,324
      
(94,414
)
    
118
      
532,149
      
(94,445
)
    
124
  
Corporate     1,344       (101 )     1       39,873       (7,114 )     14       41,217       (7,215 )     15  
Total securities with unrealized losses
  
$
6,379
    
$
(160
)
    
33
    
$
1,390,772
    
$
(242,172
)
    
379
    
$
1,397,151
    
$
(242,332
)
    
412
  
                                                                         
HTM securities:
                                                                        
Federal agency
  
$
-
    
$
-
      
-
    
$
76,997
    
$
(23,003
)
    
4
    
$
76,997
    
$
(23,003
)
    
4
  
Mortgage-backed
    
11,610
      
(975
)
    
1
      
192,576
      
(45,419
)
    
33
      
204,186
      
(46,394
)
    
34
  
Collateralized mortgage obligation
     8,834
       (134 )     2
       216,125
       (31,687 )     53
       224,959
       (31,821 )     55
  
State & municipal
    
24,593
      
(1,080
)
    
31
      
164,058
      
(28,236
)
    
193
      
188,651
      
(29,316
)
    
224
  
Total securities with unrealized losses
  
$
45,037
    
$
(2,189
)
    
34
    
$
649,756
    
$
(128,345
)
    
283
    
$
694,793
    
$
(130,534
)
    
317
  
                                                                         
As of December 31, 2022
                                                                        
AFS securities:
                                                                        
U.S. treasury
   $ 55,616     $ (3,864 )     5     $ 66,042     $ (7,369 )     3     $ 121,658     $ (11,233 )     8  
Federal agency
    
-
      
-
      
-
      
206,419
      
(42,000
)
     16      
206,419
      
(42,000
)
    
16
  
State & municipal
     3,679       (341 )     2       78,395       (13,849 )     64       82,074       (14,190 )     66  
Mortgage-backed
    
204,447
      
(15,048
)
    
149
      
267,926
      
(47,303
)
    
32
      
472,373
      
(62,351
)
    
181
  
Collateralized mortgage obligations
    
211,612
      
(14,458
)
    
77
      
374,376
      
(66,299
)
     49
      
585,988
      
(80,757
)
    
126
  
Corporate
     34,434       (2,970 )     12       19,806       (3,194 )     6       54,240       (6,164 )     18  
Total securities with unrealized losses
  
$
509,788
    
$
(36,681
)
    
245
    
$
1,012,964
    
$
(180,014
)
    
170
    
$
1,522,752
    
$
(216,695
)
    
415
  

                                                                       
HTM securities:
                                                                        
Federal agency
   $ -     $ -       -     $ 79,322     $ (20,678 )     4     $ 79,322     $ (20,678 )     4  
Mortgage-backed     91,417       (9,096 )     21       138,936       (28,342 )     13       230,353       (37,438 )     34  
Collateralized mortgage obligations     191,644       (13,863 )     47       48,289       (10,855 )     8       239,933       (24,718 )     55  
State & municipal
    
110,727
      
(4,930
)
    
149
      
82,949
      
(19,315
)
     76      
193,676
      
(24,245
)
    
225
  
Total securities with unrealized losses
  
$
393,788
    
$
(27,889
)
    
217
    
$
349,496
    
$
(79,190
)
     101    
$
743,284
    
$
(107,079
)
    
318