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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investment Securities [Abstract]

Investment Securities

	December 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	$	206,195		$	4,786		$	32		$	210,949		1.78%
GNMA certificates		174,472			8,478			178			182,772		2.21%
CMOs issued by US government-sponsored agencies		38,309			905			-			39,214		1.96%
Total mortgage-backed securities		418,976			14,169			210			432,935		1.97%
Investment securities
US Treasury securities		10,740			243			-			10,983		1.49%
Obligations of US government-sponsored agencies		1,585			21			-			1,606		1.39%
Other debt securities		875			39			-			914		2.31%
Total investment securities		13,200			303			-			13,503		1.53%
Total securities available for sale	$	432,176		$	14,472		$	210		$	446,438		1.96%

	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%

Investment Securities by Contractual Maturity

	December 31, 2020
	Available-for-sale
	Amortized Cost			Fair Value
	(In thousands)
Mortgage-backed securities
Due less than one year
FNMA and FHLMC certificates	$	348		$	364
Total due in less than one year		348			364
Due from 1 to 5 years
GNMA certificates		469			472
Total due from 1 to 5 years		469			472
Due after 5 to 10 years
CMOs issued by US government-sponsored agencies	$	32,220		$	33,013
FNMA and FHLMC certificates		96,902		$	100,643
GNMA certificates		58,615		$	60,081
Total due after 5 to 10 years		187,737			193,737
Due after 10 years
FNMA and FHLMC certificates	$	108,945		$	109,942
GNMA certificates		115,388		$	122,219
CMOs issued by US government-sponsored agencies		6,089		$	6,201
Total due after 10 years		230,422			238,362
Total mortgage-backed securities		418,976			432,935
Investment securities
Due less than one year
US Treasury securities	$	735		$	735
Other debt securities		251		$	251
Total due in less than one year		986			986
Due from 1 to 5 years
Obligations of US government-sponsored agencies	$	1,585		$	1,606
US Treasury securities		10,005		$	10,248
Total due from 1 to 5 years		11,590			11,854
Due from 5 to 10 years
Other debt securities		624			663
Total due after 5 to 10 years		624			663
Total investment securities		13,200			13,503
Total	$	432,176		$	446,438

Gross Realized Gains and Losses by Category

	Year Ended December 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		$	-


	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 mortgage-backed securities	$	17,837		$	17,837		$	-		$	-

Unrealized Gains and Losses by Category

	December 31, 2020
	12 months or more
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies	$	-		$	-		$	-
FNMA and FHLMC certificates		-			-			-
Obligations of US Government and sponsored agencies		-			-			-
GNMA certificates		-			-			-
US Treasury Securities		-			-			-
	$	-		$	-		$	-

	Less than 12 months
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US Government-sponsored agencies		-			-			-
FNMA and FHLMC certificates		34,628			32			34,596
GNMA certificates		5,104			178			4,926
US Treasury Securities		-			-			-
	$	39,732		$	210		$	39,522

	Total
	Amortized			Unrealized			Fair
	Cost			Loss			Value
	(In thousands)
Securities available-for-sale
CMOs issued by US government-sponsored agencies	$	-		$	-		$	-
FNMA and FHLMC certificates		34,628			32			34,596
Obligations of US government and sponsored agencies		-			-			-
GNMA certificates		5,104			178			4,926
US Treasury Securities		-			-			-
	$	39,732		$	210		$	39,522

	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