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Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of available-for-sale securities

The following table summarizes available-for-sale debt securities held by the Company at June 30, 2020:

			Available-for-Sale Debt Securities
June 30, 2020			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
(In thousands)
U.S. Treasuries			$	400					$	0					$	0					$	400
Obligations of U.S. Government sponsored entities			268,024						11,495						20						279,499
Obligations of U.S. states and political subdivisions			119,703						2,743						60						122,386
Mortgage-backed securities – residential, issued by
U.S. Government agencies			206,017						3,271						941						208,347
U.S. Government sponsored entities			704,627						18,001						471						722,157
U.S. corporate debt securities			2,500						0						136						2,364
Total available-for-sale debt securities			$	1,301,271					$	35,510					$	1,628					$	1,335,153

 The following table summarizes available-for-sale debt securities held by the Company at December 31, 2019:  

			Available-for-Sale Debt Securities
December 31, 2019			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
(In thousands)
U.S. Treasuries			$	1,840					$	0					$	0					$	1,840
Obligations of U.S. Government sponsored entities			367,551						5,021						84						372,488
Obligations of U.S. states and political subdivisions			96,668						1,178						61						97,785
Mortgage-backed securities – residential, issued by
U.S. Government agencies			164,643						1,327						1,519						164,451
U.S. Government sponsored entities			660,037						2,940						3,387						659,590
U.S. corporate debt securities			2,500						0						67						2,433
Total available-for-sale debt securities			$	1,293,239					$	10,466					$	5,118					$	1,298,587

Schedule of available-for-sale securities with unrealized losses

The following table summarizes available-for-sale debt securities that had unrealized losses at June 30, 2020:  

			Less than 12 Months																		12 Months or Longer																		Total
(In thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Obligations of U.S. Government sponsored entities			$	20,412					$	20					$	0					$	0					$	20,412					$	20
Obligations of U.S. states and political subdivisions			9,750						60						0						0						9,750						60
Mortgage-backed securities – residential, issued by
U.S. Government agencies			43,968						694						5,627						247						49,595						941
U.S. Government sponsored entities			32,328						403						7,159						68						39,487						471
U.S. corporate debt securities			0						0						2,364						136						2,364						136
Total available-for-sale debt securities			$	106,458					$	1,177					$	15,150					$	451					$	121,608					$	1,628

The following table summarizes available-for-sale debt securities that had unrealized losses at December 31, 2019:  

			Less than 12 Months																		12 Months or Longer																		Total
(In thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Obligations of U.S. Government sponsored entities			$	18,654					$	76					$	3,479					$	8					$	22,133					$	84
Obligations of U.S. states and political subdivisions			10,456						54						2,300						7						12,756						61
Mortgage-backed securities – residential, issued by
U.S. Government agencies			54,846						489						45,999						1,030						100,845						1,519
U.S. Government sponsored entities			157,801						752						233,999						2,635						391,800						3,387
U.S. corporate debt securities			0						0						2,433						67						2,433						67
Total available-for-sale debt securities			$	241,757					$	1,371					$	288,210					$	3,747					$	529,967					$	5,118

Schedule of amortized cost and estimated fair value of debt securities by contractual maturity

June 30, 2020
(In thousands)			Amortized Cost						Fair Value
Available-for-sale debt securities:
Due in one year or less			$	49,817					$	50,422
Due after one year through five years			214,693						225,929
Due after five years through ten years			65,948						67,690
Due after ten years			60,169						60,608
Total			390,627						404,649
Mortgage-backed securities			910,644						930,504
Total available-for-sale debt securities			$	1,301,271					$	1,335,153

December 31, 2019
(In thousands)			Amortized Cost						Fair Value
Available-for-sale debt securities:
Due in one year or less			$	107,975					$	108,089
Due after one year through five years			270,477						274,798
Due after five years through ten years			77,710						79,165
Due after ten years			12,397						12,494
Total			468,559						474,546
Mortgage-backed securities			824,680						824,041
Total available-for-sale debt securities			$	1,293,239					$	1,298,587

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922888-210455

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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