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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investment Securities [Abstract]

Investment Securities

	March 31, 2020
				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	$	155,303		$	2,916		$	-		$	158,219		1.98%
GNMA certificates		142,294			2,994			-			145,288		2.29%
CMOs issued by US government-sponsored agencies		51,214			917			-			52,131		1.97%
Total mortgage-backed securities		348,811			6,827			-			355,638		2.10%
Investment securities
US Treasury securities		296,992			1,995			-			298,987		1.63%
Obligations of US government-sponsored agencies		1,884			33			-			1,917		1.39%
Other debt securities		878			40			-			918		2.98%
Total investment securities		299,754			2,068			-			301,822		1.64%
Total securities available for sale	$	648,565		$	8,895		$	-		$	657,460		1.89%

	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%

	March 31, 2020
	Available-for-sale
	Amortized Cost			Fair Value
	(In thousands)
Mortgage-backed securities
Due from 1 to 5 years
FNMA and FHLMC certificates	$	1,242		$	1,292
GNMA certificates		694			704
Total due from 1 to 5 years		1,936			1,996
Due after 5 to 10 years
CMOs issued by US government-sponsored agencies	$	42,053		$	42,718
FNMA and FHLMC certificates		104,324			106,488
GNMA certificates		61,219			62,188
Total due after 5 to 10 years		207,596			211,394
Due after 10 years
FNMA and FHLMC certificates	$	49,737		$	50,439
GNMA certificates		80,381			82,396
CMOs issued by US government-sponsored agencies		9,161			9,413
Total due after 10 years		139,279			142,248
Total mortgage-backed securities		348,811			355,638
Investment securities
Due less than one year
US Treasury securities	$	286,985		$	288,658
Other debt securities		100			100
Total due in less than one year		287,085			288,758
Due from 1 to 5 years
Obligations of US government-sponsored agencies	$	1,884		$	1,917
US Treasury securities		10,007			10,329
Total due from 1 to 5 years		11,891			12,246
Due from 5 to 10 years
Other debt securities		778			818
Total due after 5 to 10 years		778			818
Total investment securities		299,754			301,822
Total	$	648,565		$	657,460

Gross Realized Gains and Losses by Category

	Quarter Ended March 31, 2020
				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	$	229,571		$	227,213		$	2,358		$	-
GNMA certificates		91,413			89,043			2,370			-
Total	$	320,984		$	316,256		$	4,728		$	-

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

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