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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Reconciliation of available for sale securities

The following tables present the amortized cost and fair value of investment securities available for sale at the dates indicated and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

			December 31, 2020
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
			(In thousands)
U.S. government and agency securities			$	44,713					$	947					$	—					$	45,660
Municipal securities			197,634						12,561						(227)						209,968
Residential CMO and MBS			196,956						5,125						(209)						201,872
Commercial CMO and MBS			290,638						13,198						(90)						303,746
Corporate obligations			10,971						125						—						11,096
Other asset-backed securities			29,283						565						(27)						29,821
Total			$	770,195					$	32,521					$	(553)					$	802,163

			December 31, 2019
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses												Fair Value
			(In thousands)
U.S. government and agency securities			$	104,709					$	598					$	(84)											$	105,223
Municipal securities			128,183						4,933						(102)												133,014
Residential CMO and MBS			336,929						3,184						(505)												339,608
Commercial CMO and MBS			322,169						5,575						(649)												327,095
Corporate obligations			23,893						316						(15)												24,194
Other asset-backed securities			23,277						54						(153)												23,178
Total			$	939,160					$	14,660					$	(1,508)											$	952,312

Schedule of securities available for sale

The amortized cost and fair value of investment securities available for sale at December 31, 2020, by contractual maturity, are set forth below. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

			Amortized Cost						Fair Value
			(In thousands)
Due in one year or less			$	55,631					$	56,055
Due after one year through five years			138,458						145,562
Due after five years through ten years			209,381						220,191
Due after ten years			366,725						380,355
Total			$	770,195					$	802,163

Schedule of fair value and unrealized losses of available for sale investment securities

The following tables show the gross unrealized losses and fair value of the Company's investment securities available for sale aggregated by investment category and length of time that the individual securities have been in continuous unrealized loss positions as of December 31, 2020 and December 31, 2019:

			December 31, 2020
			Less than 12 Months												12 Months or Longer												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
			(In thousands)
Municipal securities			10,264						(227)						—						—						10,264						(227)
Residential CMO and MBS			—						—						25,293						(209)						25,293						(209)
Commercial CMO and MBS			11,404						(29)						7,499						(61)						18,903						(90)
Other asset-backed securities			—						—						4,570						(27)						4,570						(27)
Total			$	21,668					$	(256)					$	37,362					$	(297)					$	59,030					$	(553)

			December 31, 2019
			Less than 12 Months												12 Months or Longer												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
			(In thousands)
U.S. government and agency securities			$	45,999					$	(84)					$	—					$	—					$	45,999					$	(84)
Municipal securities			13,761						(102)						—						—						13,761						(102)
Residential CMO and MBS			14,272						(66)						60,232						(439)						74,504						(505)
Commercial CMO and MBS			56,263						(177)						43,623						(472)						99,886						(649)
Corporate obligations			998						(2)						1,987						(13)						2,985						(15)
Other asset-backed securities			14,383						(127)						1,609						(26)						15,992						(153)
Total			$	145,676					$	(558)					$	107,451					$	(950)					$	253,127					$	(1,508)

Gross realized gains and losses on sale of securities available for sale

The following table presents the gross realized gains and losses on the sale of investment securities available for sale for the years ended December 31, 2020, December 31, 2019 and December 31, 2018:

			Year ended December 31,
			2020						2019						2018
			(In thousands)
Gross realized gains			$	1,537					$	558					$	273
Gross realized losses			(19)						(228)						(136)
Net realized gains			$	1,518					$	330					$	137

Scheduled of amortized cost and fair value of securities pledged as collateral

The following table summarizes the amortized cost and fair value of investment securities available for sale that are pledged as collateral for the following obligations at December 31, 2020 and December 31, 2019:

			December 31, 2020												December 31, 2019
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
			(In thousands)
Washington and Oregon state public deposits			$	119,652					$	124,228					$	187,700					$	190,773
Securities sold under agreement to repurchase			38,630						39,945						22,156						22,294
Other securities pledged			29,665						30,717						19,333						19,850
Total			$	187,947					$	194,890					$	229,189					$	232,917

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Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities.

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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