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Securities (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024 and December 31, 2023:
| Available-for-Sale Debt Securities
June 30, 2024 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 114,808 |  | $ | 60 |  | $ | 4,982 |  | $ | 109,886 |
Obligations of U.S. Government sponsored entities | 442,952 |  | 2,937 |  | 23,212 |  | 422,677 |
Obligations of U.S. states and political subdivisions | 88,563 |  | 1 |  | 10,088 |  | 78,476 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 45,419 |  | 4 |  | 5,311 |  | 40,112 |
U.S. Government sponsored entities | 769,723 |  | 1,108 |  | 106,891 |  | 663,940 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 133 |  | 2,367 |
Total available-for-sale debt securities | $ | 1,463,965 |  | $ | 4,110 |  | $ | 150,617 |  | $ | 1,317,458 |
| Available-for-Sale Debt Securities
December 31, 2023 | Amortized 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 entities | 472,286 |  | 6,449 |  | 22,277 |  | 456,458 |
Obligations of U.S. states and political subdivisions | 89,999 |  | 2 |  | 8,077 |  | 81,924 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 49,976 |  | 8 |  | 4,744 |  | 45,240 |
U.S. Government sponsored entities | 819,303 |  | 2,422 |  | 100,895 |  | 720,830 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 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 tables summarize held-to-maturity debt securities held by the Company at June 30, 2024 and December 31, 2023:
| Held-to-Maturity Debt Securities
June 30, 2024 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 86,157 |  | $ | 0 |  | $ | 12,181 |  | $ | 73,976 |
Obligations of U.S. Government sponsored entities | 226,273 |  | 0 |  | 35,661 |  | 190,612 |
Total held-to-maturity debt securities | $ | 312,430 |  | $ | 0 |  | $ | 47,842 |  | $ | 264,588 |
| Held-to-Maturity Debt Securities
December 31, 2023 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 86,266 |  | $ | 0 |  | $ | 11,051 |  | $ | 75,215 |
Obligations of U.S. Government sponsored entities | 226,135 |  | 0 |  | 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 June 30, 2024 and December 31, 2023:
June 30, 2024 | 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 |  | $ | 73,976 |  | $ | 12,181 |  | $ | 73,976 |  | $ | 12,181 |
Obligations of U.S. Government sponsored entities | 0 |  | 0 |  | 190,612 |  | 35,661 |  | 190,612 |  | 35,661 |
Total held-to-maturity debt securities | $ | 0 |  | $ | 0 |  | $ | 264,588 |  | $ | 47,842 |  | $ | 264,588 |  | $ | 47,842 |
December 31, 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 |  | $ | 75,215 |  | $ | 11,051 |  | $ | 75,215 |  | $ | 11,051 |
Obligations of U.S. Government sponsored entities | 0 |  | 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 |
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, 2024, and December 31, 2023:
June 30, 2024 | 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 | $ | 19,876 |  | $ | 2 |  | $ | 65,756 |  | $ | 4,980 |  | $ | 85,632 |  | $ | 4,982 |
Obligations of U.S. Government sponsored entities | 29,993 |  | 14 |  | 214,490 |  | 23,198 |  | 244,483 |  | 23,212 |
Obligations of U.S. states and political subdivisions | 2,236 |  | 8 |  | 76,125 |  | 10,080 |  | 78,361 |  | 10,088 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 0 |  | 0 |  | 39,801 |  | 5,311 |  | 39,801 |  | 5,311 |
U.S. Government sponsored entities | 14,318 |  | 257 |  | 559,593 |  | 106,634 |  | 573,911 |  | 106,891 |
U.S. corporate debt securities | 0 |  | 0 |  | 2,367 |  | 133 |  | 2,367 |  | 133 |
Total available-for-sale debt securities | $ | 66,423 |  | $ | 281 |  | $ | 958,132 |  | $ | 150,336 |  | $ | 1,024,555 |  | $ | 150,617 |
December 31, 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 |  | $ | 65,663 |  | $ | 5,009 |  | $ | 65,663 |  | $ | 5,009 |
Obligations of U.S. Government sponsored entities | 14,453 |  | 110 |  | 220,913 |  | 22,167 |  | 235,366 |  | 22,277 |
Obligations of U.S. states and political subdivisions | 10,572 |  | 106 |  | 69,601 |  | 7,971 |  | 80,173 |  | 8,077 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 1,145 | 4 | 43,764 | 4,740 | 44,909 | 4,744
U.S. Government sponsored entities | 5,659 | 66 | 609,456 | 100,829 | 615,115 | 100,895
U.S. corporate debt securities | 0 |  | 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 |
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity |
June 30, 2024 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 145,289 |  | $ | 143,154 |
Due after one year through five years | 246,804 |  | 234,188 |
Due after five years through ten years | 234,401 |  | 218,769 |
Due after ten years | 22,329 |  | 17,295 |
Total | 648,823 |  | 613,406 |
Mortgage-backed securities | 815,142 |  | 704,052 |
Total available-for-sale debt securities | $ | 1,463,965 |  | $ | 1,317,458 |
December 31, 2023 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 99,242 |  | $ | 98,650 |
Due after one year through five years | 307,093 |  | 296,279 |
Due after five years through ten years | 245,617 |  | 233,569 |
Due after ten years | 27,251 |  | 22,082 |
Total | 679,203 |  | 650,580 |
Mortgage-backed securities | 869,279 |  | 766,070 |
Total available-for-sale debt securities | $ | 1,548,482 |  | $ | 1,416,650 |
June 30, 2024 |  |
(In thousands) | Amortized Cost | Fair Value
Held-to-maturity debt securities: |  |
Due after five years through ten years | $ | 312,430 |  | $ | 264,588 |
Total held-to-maturity debt securities | $ | 312,430 |  | $ | 264,588 |
December 31, 2023 |  |
(In thousands) | Amortized Cost | Fair 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 |

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