XML 60 R34.htm IDEA: XBRL DOCUMENT v3.24.0.1
Securities (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2023 and 2022:
December 31, 2023Available-for-Sale Debt Securities
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
U.S. Treasuries$114,418 $495 $5,009 $109,904 
Obligations of U.S. Government sponsored entities472,286 6,449 22,277 456,458 
Obligations of U.S. states and political subdivisions89,999 2 8,077 81,924 
Mortgage-backed securities – residential, issued by
 U.S. Government agencies49,976 8 4,744 45,240 
 U.S. Government sponsored entities819,303 2,422 100,895 720,830 
U.S. corporate debt securities2,500 0 206 2,294 
Total available-for-sale debt securities$1,548,482 $9,376 $141,208 $1,416,650 

December 31, 2022Available-for-Sale Debt Securities
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
U.S. Treasuries$190,170 $0 $22,919 $167,251 
Obligations of U.S. Government sponsored entities681,192 0 80,025 601,167 
Obligations of U.S. states and political subdivisions93,599 8 8,326 85,281 
Mortgage-backed securities – residential, issued by
U.S. Government agencies58,727 12 6,071 52,668 
U.S. Government sponsored entities805,603 0 119,381 686,222 
U.S. corporate debt securities2,500 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 December 31, 2023 and 2022:

December 31, 2023Held-to-Maturity Debt Securities
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
U.S. Treasuries$86,266 $0 $11,051 $75,215 
Obligations of U.S. Government sponsored entities226,135 $0 33,895 192,240 
Total held-to-maturity debt securities$312,401 $0 $44,946 $267,455 
 
December 31, 2022Held-to-Maturity Debt Securities
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
U.S. Treasuries$86,478 $0 $12,937 $73,541 
Obligations of U.S. Government sponsored entities225,866 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 December 31, 2023:

December 31, 2023Held-to-Maturity Debt Securities
Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$0 $0 $75,215 $11,051 $75,215 $11,051 
Obligations of U.S. Government sponsored entities0 0 192,240 33,895 192,240 33,895 
Total held-to-maturity debt securities$0 $0 $267,455 $44,946 $267,455 $44,946 
The following table summarizes held-to-maturity debt securities that had unrealized losses at December 31, 2022:

December 31, 2022Held-to-Maturity Debt Securities
Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$0 $0 $73,542 $12,937 $73,542 $12,937 
Obligations of U.S. Government sponsored entities24,543 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 
December 31, 2023
(In thousands)Amortized CostFair Value
Held-to-maturity debt securities:
Due after five years through ten years$312,401 $267,455 
Total held-to-maturity debt securities$312,401 $267,455 

December 31, 2022
(In thousands)Amortized CostFair 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 
Schedule of sales transactions of available-for-sale securities
The following table sets forth information with regard to sales transactions of available-for-sale debt securities:
Year ended December 31,
(In thousands)202320222021
Proceeds from sales$440,488 $160,638 $142,679 
Gross realized gains0 0 1,126 
Gross realized losses(69,983)(11,916)(851)
Net (loss) gain on sales of available-for-sale debt securities$(69,983)$(11,916)$275 
Schedule of debt securities, available for sale with unrealized losses
The following table summarizes available-for-sale debt securities that had unrealized losses at December 31, 2023:

December 31, 2023Available-for-Sale Debt Securities
Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$0 $0 $65,663 $5,009 $65,663 $5,009 
Obligations of U.S. Government sponsored entities14,453 110 220,913 22,167 235,366 22,277 
Obligations of U.S. states and political subdivisions10,572 106 69,601 7,971 80,173 8,077 
Mortgage-backed securities – residential, issued by
U.S. Government agencies1,145 4 43,764 4,740 44,909 4,744 
U.S. Government sponsored entities5,659 66 609,456 100,829 615,115 100,895 
U.S. corporate debt securities0 0 2,294 206 2,294 206 
Total available-for-sale debt securities$31,829 $286 $1,011,691 $140,922 $1,043,520 $141,208 
The following table summarizes available-for-sale debt securities that had unrealized losses at December 31, 2022: 

December 31, 2022Available-for-Sale Debt Securities
Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$28,602 $2,132 $138,649 $20,787 $167,251 $22,919 
Obligations of U.S. Government sponsored entities143,794 7,508 457,373 72,517 601,167 80,025 
Obligations of U.S. states and political subdivisions46,638 2,385 33,435 5,941 80,073 8,326 
Mortgage-backed securities – residential, issued by
U.S. Government agencies22,945 1,258 29,356 4,813 52,301 6,071 
U.S. Government sponsored entities186,690 16,869 499,532 102,512 686,222 119,381 
U.S. corporate debt securities0 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
December 31, 2023
(In thousands)Amortized CostFair Value
Available-for-sale debt securities:
Due in one year or less$99,242 $98,650 
Due after one year through five years307,093 296,279 
Due after five years through ten years245,617 233,569 
Due after ten years27,251 22,082 
Total679,203 650,580 
Mortgage-backed securities869,279 766,070 
Total available-for-sale debt securities$1,548,482 $1,416,650 

December 31, 2022
(In thousands)Amortized CostFair Value
Available-for-sale debt securities:
Due in one year or less$50,922 $50,269 
Due after one year through five years508,880 459,721 
Due after five years through ten years367,743 314,408 
Due after ten years39,916 31,679 
Total967,461 856,077 
Mortgage-backed securities864,330 738,890 
Total available-for-sale debt securities$1,831,791 $1,594,967