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Securities (Tables) | 6 Months Ended
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Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of available-for-sale securities | The following tables summarize available-for-sale debt securities held by the Company at June 30, 2023 and December 31, 2022:
| Available-for-Sale Debt Securities
June 30, 2023 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 190,275 |  | $ | 0 |  | $ | 22,181 |  | $ | 168,094 |
Obligations of U.S. Government sponsored entities | 592,694 |  | 0 |  | 69,151 |  | 523,543 |
Obligations of U.S. states and political subdivisions | 90,330 |  | 1 |  | 8,284 |  | 82,047 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 54,852 |  | 9 |  | 5,919 |  | 48,942 |
U.S. Government sponsored entities | 757,400 |  | 0 |  | 114,265 |  | 643,135 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 258 |  | 2,242 |
Total available-for-sale debt securities | $ | 1,688,051 |  | $ | 10 |  | $ | 220,058 |  | $ | 1,468,003 |
| Available-for-Sale Debt Securities
December 31, 2022 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 190,170 |  | $ | 0 |  | $ | 22,919 |  | $ | 167,251 |
Obligations of U.S. Government sponsored entities | 681,192 |  | 0 |  | 80,025 |  | 601,167 |
Obligations of U.S. states and political subdivisions | 93,599 |  | 8 |  | 8,326 |  | 85,281 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 58,727 |  | 12 |  | 6,071 |  | 52,668 |
U.S. Government sponsored entities | 805,603 |  | 0 |  | 119,381 |  | 686,222 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 122 |  | 2,378 |
Total available-for-sale debt securities | $ | 1,831,791 |  | $ | 20 |  | $ | 236,844 |  | $ | 1,594,967 |
Schedule of held-to-maturity securities | The following tables summarize held-to-maturity debt securities held by the Company at June 30, 2023 and December 31, 2022:
| Held-to-Maturity Securities
June 30, 2023 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 86,370 |  | $ | 0 |  | $ | 12,598 |  | $ | 73,772 |
Obligations of U.S. Government sponsored entities | 225,999 |  | 0 |  | 37,327 |  | 188,672 |
Total held-to-maturity debt securities | $ | 312,369 |  | $ | 0 |  | $ | 49,925 |  | $ | 262,444 |
| Held-to-Maturity Securities
December 31, 2022 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 86,478 |  | $ | 0 |  | $ | 12,937 |  | $ | 73,541 |
Obligations of U.S. Government sponsored entities | 225,866 |  | 0 |  | 37,715 |  | 188,151 |
Total held-to-maturity debt securities | $ | 312,344 |  | $ | 0 |  | $ | 50,652 |  | $ | 261,692 |
The following table summarizes held-to-maturity debt securities that had unrealized losses at June 30, 2023 and December 31, 2022:
June 30, 2023 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 73,772 |  | $ | 12,598 |  | $ | 73,772 |  | $ | 12,598 |
Obligations of U.S. Government sponsored entities | 8,176 |  | 751 |  | 180,496 |  | 36,576 |  | 188,672 |  | 37,327 |
Total held-to-maturity debt securities | $ | 8,176 |  | $ | 751 |  | $ | 254,268 |  | $ | 49,174 |  | $ | 262,444 |  | $ | 49,925 |
December 31, 2022 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 73,542 |  | $ | 12,937 |  | $ | 73,542 |  | $ | 12,937 |
Obligations of U.S. Government sponsored entities | 24,543 |  | 3,903 |  | 163,607 |  | 33,812 |  | 188,150 |  | 37,715 |
Total held-to-maturity debt securities | $ | 24,543 |  | $ | 3,903 |  | $ | 237,149 |  | $ | 46,749 |  | $ | 261,692 |  | $ | 50,652 |
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, 2023, and December 31, 2022:
June 30, 2023 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 168,094 |  | $ | 22,181 |  | $ | 168,094 |  | $ | 22,181 |
Obligations of U.S. Government sponsored entities | 28,596 |  | 758 |  | 494,947 |  | 68,393 |  | 523,543 |  | 69,151 |
Obligations of U.S. states and political subdivisions | 26,104 |  | 756 |  | 55,842 |  | 7,528 |  | 81,946 |  | 8,284 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 6,244 |  | 254 |  | 42,351 |  | 5,665 |  | 48,595 |  | 5,919 |
U.S. Government sponsored entities | 13,055 |  | 727 |  | 630,081 |  | 113,538 |  | 643,136 |  | 114,265 |
U.S. corporate debt securities | 0 |  | 0 |  | 2,242 |  | 258 |  | 2,242 |  | 258 |
Total available-for-sale debt securities | $ | 73,999 |  | $ | 2,495 |  | $ | 1,393,557 |  | $ | 217,563 |  | $ | 1,467,556 |  | $ | 220,058 |
December 31, 2022 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 28,602 |  | $ | 2,132 |  | $ | 138,649 |  | $ | 20,787 |  | $ | 167,251 |  | $ | 22,919 |
Obligations of U.S. Government sponsored entities | 143,794 |  | 7,508 |  | 457,373 |  | 72,517 |  | 601,167 |  | 80,025 |
Obligations of U.S. states and political subdivisions | 46,638 |  | 2,385 |  | 33,435 |  | 5,941 |  | 80,073 |  | 8,326 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 22,945 | 1,258 | 29,356 | 4,813 | 52,301 | 6,071
U.S. Government sponsored entities | 186,690 | 16,869 | 499,532 | 102,512 | 686,222 | 119,381
U.S. corporate debt securities | 0 |  | 0 |  | 2,378 |  | 122 |  | 2,378 |  | 122 |
Total available-for-sale debt securities | $ | 428,669 |  | $ | 30,152 |  | $ | 1,160,723 |  | $ | 206,692 |  | $ | 1,589,392 |  | $ | 236,844 |
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity |
June 30, 2023 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 47,677 |  | $ | 46,893 |
Due after one year through five years | 514,770 |  | 461,320 |
Due after five years through ten years | 269,157 |  | 230,292 |
Due after ten years | 44,195 |  | 37,421 |
Total | 875,799 |  | 775,926 |
Mortgage-backed securities | 812,252 |  | 692,077 |
Total available-for-sale debt securities | $ | 1,688,051 |  | $ | 1,468,003 |
December 31, 2022 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 50,922 |  | $ | 50,269 |
Due after one year through five years | 508,880 |  | 459,721 |
Due after five years through ten years | 367,743 |  | 314,408 |
Due after ten years | 39,916 |  | 31,679 |
Total | 967,461 |  | 856,077 |
Mortgage-backed securities | 864,330 |  | 738,890 |
Total available-for-sale debt securities | $ | 1,831,791 |  | $ | 1,594,967 |
June 30, 2023 |  |
(In thousands) | Amortized Cost | Fair Value
Held-to-maturity debt securities: |  |
Due after five years through ten years | $ | 312,369 |  | $ | 262,444 |
Total held-to-maturity debt securities | $ | 312,369 |  | $ | 262,444 |
December 31, 2022 |  |
(In thousands) | Amortized Cost | Fair Value
Held-to-maturity debt securities: |  |
Due after five years through ten years | $ | 312,344 |  | $ | 261,692 |
Total held-to-maturity debt securities | $ | 312,344 |  | $ | 261,692 |

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