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Securities (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31, 2024:
Available-for-Sale Debt Securities
March 31, 2024Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$114,611 $161 $5,244 $109,528 
Obligations of U.S. Government sponsored entities462,622 4,172 23,595 443,199 
Obligations of U.S. states and political subdivisions89,796 8,762 81,036 
Mortgage-backed securities – residential, issued by
 U.S. Government agencies47,703 5,203 42,506 
 U.S. Government sponsored entities794,239 1,406 107,898 687,747 
U.S. corporate debt securities2,500 161 2,339 
Total available-for-sale debt securities$1,511,471 $5,747 $150,863 $1,366,355 
 
The following table summarizes available-for-sale debt securities held by the Company at December 31, 2023:

Available-for-Sale Debt Securities
December 31, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
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 8,077 81,924 
Mortgage-backed securities – residential, issued by
U.S. Government agencies49,976 4,744 45,240 
U.S. Government sponsored entities819,303 2,422 100,895 720,830 
U.S. corporate debt securities2,500 206 2,294 
Total available-for-sale debt securities$1,548,482 $9,376 $141,208 $1,416,650 
Schedule of held to maturity securities
The following table summarizes held-to-maturity debt securities held by the Company at March 31, 2024:

Held-to-Maturity Debt Securities
March 31, 2024Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$86,211 $$12,075 $74,136 
Obligations of U.S. Government sponsored entities226,204 35,238 190,966 
Total held-to-maturity debt securities$312,415 $0 $47,313 $265,102 
The following table summarizes held-to-maturity debt securities held by the Company at December 31, 2023:

Held-to-Maturity Debt Securities
December 31, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$86,266 $$11,051 $75,215 
Obligations of U.S. Government sponsored entities226,135 33,895 192,240 
Total held-to-maturity debt securities$312,401 $0 $44,946 $267,455 
The following table summarizes held-to-maturity debt securities that had unrealized losses at March 31, 2024:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$74,136 $12,075 $74,136 $12,075 
Obligations of U.S. Government sponsored entities190,966 35,238 190,966 35,238 
Total held-to-maturity debt securities$0 $0 $265,102 $47,313 $265,102 $47,313 

The following table summarizes held-to-maturity debt securities that had unrealized losses at December 31, 2023:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$75,215 $11,051 $75,215 $11,051 
Obligations of U.S. Government sponsored entities192,240 33,895 192,240 33,895 
Total held-to-maturity debt securities$0 $0 $267,455 $44,946 $267,455 $44,946 
March 31, 2024
(In thousands)Amortized CostFair Value
Held-to-maturity debt securities:
Due after five years through ten years$312,415 $265,102 
Total held-to-maturity debt securities$312,415 $265,102 

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 
Schedule of available for sale securities with unrealized losses
The following table summarizes available-for-sale debt securities that had unrealized losses at March 31, 2024:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$9,942 $$65,460 $5,243 $75,402 $5,244 
Obligations of U.S. Government sponsored entities14,384 188 219,684 23,407 234,068 23,595 
Obligations of U.S. states and political subdivisions1,607 13 78,913 8,749 80,520 8,762 
Mortgage-backed securities – residential, issued by
U.S. Government agencies1,137 41,049 5,195 42,186 5,203 
U.S. Government sponsored entities11,000 134 581,249 107,764 592,249 107,898 
U.S. corporate debt securities2,339 161 2,339 161 
Total available-for-sale debt securities$38,070 $344 $988,694 $150,519 $1,026,764 $150,863 

The following table summarizes available-for-sale debt securities that had unrealized losses at December 31, 2023:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$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 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 securities2,294 206 2,294 206 
Total available-for-sale debt securities$31,829 $286 $1,011,691 $140,922 $1,043,520 $141,208 
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity
The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.

March 31, 2024
(In thousands)Amortized CostFair Value
Available-for-sale debt securities:
Due in one year or less$99,896 $99,423 
Due after one year through five years299,154 286,149 
Due after five years through ten years244,129 229,834 
Due after ten years26,350 20,696 
Total669,529 636,102 
Mortgage-backed securities841,942 730,253 
Total available-for-sale debt securities$1,511,471 $1,366,355 

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