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Investments Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments Securities [Abstract]

Investment Securities

	December 31, 2019
				Gross			Gross						Weighted
	Amortized			Unrealized			Unrealized			Fair			Average
	Cost			Gains			Losses			Value			Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates	$	403,227		$	846		$	1,417		$	402,656		2.00%
GNMA certificates		215,755			718			4			216,469		2.33%
CMOs issued by US government-sponsored agencies		55,235			16			490			54,761		1.97%
Total mortgage-backed securities		674,217			1,580			1,911			673,886		2.11%
Investment securities
US Treasury securities		397,183			-			-			397,183		1.60%
Obligations of US government-sponsored agencies		1,967			-			6			1,961		1.38%
Other debt securities		1,108			31			-			1,139		3.00%
Total investment securities		400,258			31			6			400,283		1.60%
Total securities available for sale	$	1,074,475		$	1,611		$	1,917		$	1,074,169		1.92%

	December 31, 2018
				Gross			Gross						Weighted
	Amortized			Unrealized			Unrealized			Fair			Average
	Cost			Gains			Losses			Value			Yield
	(In thousands)
Available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates	$	561,878		$	404		$	8,951		$	553,331		2.59%
GNMA certificates		211,947			1,050			2,827			210,170		3.10%
CMOs issued by US government-sponsored agencies		66,230			-			2,166			64,064		1.90%
Total mortgage-backed securities		840,055			1,454			13,944			827,565		2.66%
Investment securities
US Treasury securities		10,924			-			119			10,805		1.36%
Obligations of US government-sponsored agencies		2,325			-			60			2,265		1.38%
Other debt securities		1,207			15			-			1,222		2.99%
Total investment securities		14,456			15			179			14,292		1.50%
Total securities available-for-sale	$	854,511		$	1,469		$	14,123		$	841,857		2.64%
Held-to-maturity
Mortgage-backed securities
FNMA and FHLMC certificates	$	424,740		$	-		$	14,387		$	410,353		2.07%

	December 31, 2019
	Available-for-sale
	Amortized Cost			Fair Value
	(In thousands)
Mortgage-backed securities
Due from 1 to 5 years
FNMA and FHLMC certificates	$	1,611		$	1,640
GNMA certificates		785			785
Total due from 1 to 5 years		2,396			2,425
Due after 5 to 10 years
CMOs issued by US government-sponsored agencies	$	45,481		$	45,003
FNMA and FHLMC certificates		111,923			111,916
GNMA certificates		80,675			80,676
Total due after 5 to 10 years		238,079			237,595
Due after 10 years
FNMA and FHLMC certificates	$	289,693		$	289,100
GNMA certificates		134,295			135,008
CMOs issued by US government-sponsored agencies		9,754			9,758
Total due after 10 years		433,742			433,866
Total mortgage-backed securities		674,217			673,886
Investment securities
Due less than one year
US Treasury securities	$	377,153		$	377,153
Other debt securities		250			250
Total due in less than one year		377,403			377,403
Due from 1 to 5 years
Obligations of US government-sponsored agencies	$	1,967		$	1,961
US Treasury securities		20,030			20,030
Total due from 1 to 5 years		21,997			21,991
Due from 5 to 10 years
Other debt securities		858			889
Total due after 5 to 10 years		858			889
Total investment securities		400,258			400,283
Total	$	1,074,475		$	1,074,169

Gross Realized Gains and Losses by Category

	Year Ended December 31, 2019
				Book Value
Description	Sale Price			at Sale			Gross Gains			Gross Losses
	(In thousands)
Sale of securities available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates	$	451,081		$	447,305		$	3,776		$	-
GNMA certificates		229,385			224,887			4,498			-
Total	$	680,466		$	672,192		$	8,274		$	-
	Year Ended December 31, 2018
				Book Value
Description	Sale Price			at Sale			Gross Gains			Gross Losses
	(In thousands)
Sale of securities available-for-sale
Mortgage-backed securities
GNMA certificates	$	17,837		$	17,837		$	-		$	-
Total	$	17,837		$	17,837		$	-		$	-

	Year Ended December 31, 2017
				Book Value
Description	Sale Price			at Sale			Gross Gains			Gross Losses
	(In thousands)
Sale of securities available-for-sale
Mortgage-backed securities
FNMA and FHLMC certificates	$	107,510		$	102,311		$	5,199		$	-
GNMA certificates		65,284			63,704			1,580			-
Investment securities
US Treasury securities		84,202			84,085			117			-
Total mortgage-backed securities	$	256,996		$	250,100		$	6,896		$	-

Unrealized Gains and Losses by Category

	December 31, 2019
	12 months or more
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	35,417		$	387		$	35,030
FNMA and FHLMC certificates		259,099			1,415			257,684
Obligations of US Government and sponsored agencies		1,967			6			1,961
GNMA certificates		19			-			19
	$	296,502		$	1,808		$	294,694
	Less than 12 months
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies		11,503			103			11,400
FNMA and FHLMC certificates		4,919			2			4,917
GNMA certificates		3,549			4			3,545
US Treasury Securities		627			-			627
	$	20,598		$	109		$	20,489
	Total
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US government-sponsored agencies	$	46,920		$	490		$	46,430
FNMA and FHLMC certificates		264,018			1,417			262,601
Obligations of US government and sponsored agencies		1,967			6			1,961
GNMA certificates		3,568			4			3,564
US Treasury Securities		627			-			627
	$	317,100		$	1,917		$	315,183

	December 31, 2018
	12 months or more
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	66,230		$	2,166		$	64,064
FNMA and FHLMC certificates		357,955			8,603			349,352
Obligations of US Government and sponsored agencies		2,325			60			2,265
GNMA certificates		131,044			2,739			128,305
US Treasury Securities		9,977			119			9,858
	$	567,531		$	13,687		$	553,844
Securities held-to-maturity
FNMA and FHLMC certificates	$	424,740		$	14,387		$	410,353
	Less than 12 months
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
FNMA and FHLMC certificates		109,772			348			109,424
GNMA certificates		17,126			88			17,038
US Treasury Securities		323			-			323
	$	127,221		$	436		$	126,785
	Total
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies		66,230			2,166			64,064
FNMA and FHLMC certificates		467,727			8,951			458,776
Obligations of US government and sponsored agencies		2,325			60			2,265
GNMA certificates		148,170			2,827			145,343
US Treasury Securities		10,300			119			10,181
	$	694,752		$	14,123		$	680,629
Securities held-to-maturity
FNMA and FHLMC certificates	$	424,740		$	14,387		$	410,353

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