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INVESTMENT SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2022
INVESTMENT SECURITIES |
Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity | The following tables summarize the amortized cost and fair value of debt securities AFS and HTM and equity investments and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | Unrealized/ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrecognized | ​ | Unrecognized | ​ | ​ | ​
At June 30, 2022 |  | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agency securities | ​ | $ | 67,995 | ​ | $ | — | ​ | $ | (6,416) | ​ | $ | 61,579
U.S. State and Municipal securities | ​ | ​ | 11,724 | ​ | ​ | — | ​ | ​ | (2,058) | ​ | ​ | 9,666
Residential MBS | ​ | ​ | 427,596 | ​ | ​ | — | ​ | ​ | (52,275) | ​ | ​ | 375,321
Commercial MBS | ​ | ​ | 16,434 | ​ | ​ | — | ​ | ​ | (1,450) | ​ | ​ | 14,984
Asset-backed securities | ​ | ​ | 4,324 | ​ | ​ | — | ​ | ​ | (213) | ​ | ​ | 4,111
Total securities available-for-sale | ​ | $ | 528,073 | ​ | $ | — | ​ | $ | (62,412) | ​ | $ | 465,661
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-Maturity Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 29,832 | ​ | $ | — | ​ | $ | (1,652) | ​ | $ | 28,180
U.S. State and Municipal securities | ​ | ​ | 15,936 | ​ | ​ | — | ​ | ​ | (2,598) | ​ | ​ | 13,338
Residential MBS | ​ | ​ | 476,851 | ​ | ​ | 71 | ​ | ​ | (39,662) | ​ | ​ | 437,260
Commercial MBS | ​ | ​ | 8,121 | ​ | ​ | — | ​ | ​ | (911) | ​ | ​ | 7,210
Total securities held-to-maturity | ​ | $ | 530,740 | ​ | $ | 71 | ​ | $ | (44,823) | ​ | $ | 485,988
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CRA Mutual Fund | ​ | $ | 2,339 | ​ | $ | — | ​ | $ | (232) | ​ | $ | 2,107
Total equity investment securities | ​ | $ | 2,339 | ​ | $ | — | ​ | $ | (232) | ​ | $ | 2,107
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | Unrealized/ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrecognized | ​ | Unrecognized | ​ | ​ | ​
At December 31, 2021 |  | Cost |  | Gains |  | Losses |  | Fair Value
Available-for-Sale Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agency securities | ​ | $ | 67,994 | ​ | $ | — | ​ | $ | (1,660) | ​ | $ | 66,334
U.S. State and Municipal securities | ​ | ​ | 11,799 | ​ | ​ | — | ​ | ​ | (300) | ​ | ​ | 11,499
Residential MBS | ​ | ​ | 476,393 | ​ | ​ | 623 | ​ | ​ | (10,465) | ​ | ​ | 466,551
Commercial MBS | ​ | ​ | 17,787 | ​ | ​ | 219 | ​ | ​ | (379) | ​ | ​ | 17,627
Asset-backed securities | ​ | ​ | 4,635 | ​ | ​ | — | ​ | ​ | (22) | ​ | ​ | 4,613
Total securities available-for-sale | ​ | $ | 578,608 | ​ | $ | 842 | ​ | $ | (12,826) | ​ | $ | 566,624
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-Maturity Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 29,811 | ​ | $ | 6 | ​ | $ | (43) | ​ | $ | 29,774
U.S. State and Municipal securities | ​ | ​ | 16,055 | ​ | ​ | 299 | ​ | ​ | — | ​ | ​ | 16,354
Residential MBS | ​ | ​ | 328,095 | ​ | ​ | 105 | ​ | ​ | (2,259) | ​ | ​ | 325,941
Commercial MBS | ​ | ​ | 8,138 | ​ | ​ | — | ​ | ​ | (99) | ​ | ​ | 8,039
Total securities held-to-maturity | ​ | $ | 382,099 | ​ | $ | 410 | ​ | $ | (2,401) | ​ | $ | 380,108
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity Investments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
CRA Mutual Fund | ​ | $ | 2,326 | ​ | $ | — | ​ | $ | (53) | ​ | $ | 2,273
Total equity investment securities | ​ | $ | 2,326 | ​ | $ | — | ​ | $ | (53) | ​ | $ | 2,273
Schedule of proceeds from sales and calls of securities and associated gains | The following table summarizes the proceeds from sales and calls of AFS securities and the associated gains (losses) (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, | ​ | Six months ended June 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Proceeds | ​ | $ | — | ​ | $ | 43,241 | ​ | $ | — | ​ | $ | 43,241
Gross gains | ​ | $ | — | ​ | $ | 609 | ​ | $ | — | ​ | $ | 609
Tax impact | ​ | $ | — | ​ | $ | (195) | ​ | $ | — | ​ | $ | (195)
Schedule of amortized cost and fair value of debt securities classified by contractual maturity | The tables below summarize, by contractual maturity, the amortized cost and fair value of debt securities. The tables do not include the effect of principal repayments or scheduled principal amortization. Equity securities, primarily investments in mutual funds, have been excluded from the table. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Held-to-Maturity | ​ | Available-for-Sale
At June 30, 2022 |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within 1 year | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
After 1 year through 5 years | ​ | ​ | 29,832 | ​ | ​ | 28,179 | ​ | ​ | 49,534 | ​ | ​ | 45,709
After 5 years through 10 years | ​ | ​ | 9,686 | ​ | ​ | 8,726 | ​ | ​ | 32,880 | ​ | ​ | 30,088
After 10 years | ​ | ​ | 491,222 | ​ | ​ | 449,083 | ​ | ​ | 445,659 | ​ | ​ | 389,864
Total Securities | ​ | $ | 530,740 | ​ | $ | 485,988 | ​ | $ | 528,073 | ​ | $ | 465,661
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Held-to-Maturity | ​ | Available-for-Sale
At December 31, 2021 |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within 1 year | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
After 1 year through 5 years | ​ | ​ | 29,811 | ​ | ​ | 29,774 | ​ | ​ | 48,515 | ​ | ​ | 47,370
After 5 years through 10 years | ​ | ​ | 9,973 | ​ | ​ | 9,912 | ​ | ​ | 36,242 | ​ | ​ | 36,024
After 10 years | ​ | ​ | 342,315 | ​ | ​ | 340,422 | ​ | ​ | 493,851 | ​ | ​ | 483,230
Total Securities | ​ | $ | 382,099 | ​ | $ | 380,108 | ​ | $ | 578,608 | ​ | $ | 566,624
Schedule of securities with unrealized/unrecognized losses | Debt securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | ​ | ​ | ​ | Unrealized/
​ | ​ | Estimated | ​ | Unrecognized | ​ | Estimated | ​ | Unrecognized | ​ | Estimated | ​ | Unrecognized
At June 30, 2022 |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
Available-for-Sale Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agency securities | ​ | $ | — | ​ | $ | — | ​ | $ | 61,579 | ​ | $ | (6,416) | ​ | $ | 61,579 | ​ | $ | (6,416)
U.S. State and Municipal securities | ​ | ​ | 5,871 | ​ | ​ | (1,016) | ​ | ​ | 3,795 | ​ | ​ | (1,042) | ​ | ​ | 9,666 | ​ | ​ | (2,058)
Residential MBS | ​ | ​ | 244,366 | ​ | ​ | (30,483) | ​ | ​ | 130,955 | ​ | ​ | (21,792) | ​ | ​ | 375,321 | ​ | ​ | (52,275)
Commercial MBS | ​ | ​ | 2,639 | ​ | ​ | (26) | ​ | ​ | 12,345 | ​ | ​ | (1,424) | ​ | ​ | 14,984 | ​ | ​ | (1,450)
Asset-backed securities | ​ | ​ | 4,111 | ​ | ​ | (213) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,111 | ​ | ​ | (213)
Total securities available-for-sale | ​ | $ | 256,987 | ​ | $ | (31,738) | ​ | $ | 208,674 | ​ | $ | (30,674) | ​ | $ | 465,661 | ​ | $ | (62,412)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-Maturity Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 28,180 | ​ | $ | (1,652) | ​ | $ | — | ​ | $ | — | ​ | $ | 28,180 | ​ | $ | (1,652)
U.S. State and Municipal securities | ​ | ​ | 13,338 | ​ | ​ | (2,598) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13,338 | ​ | ​ | (2,598)
Residential MBS | ​ | ​ | 409,189 | ​ | ​ | (39,662) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 409,189 | ​ | ​ | (39,662)
Commercial MBS | ​ | ​ | 7,210 | ​ | ​ | (911) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,210 | ​ | ​ | (911)
Asset-backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total securities held-to-maturity | ​ | $ | 457,917 | ​ | $ | (44,823) | ​ | $ | — | ​ | $ | — | ​ | $ | 457,917 | ​ | $ | (44,823)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
​ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | ​ | ​ | ​ | Unrealized/ | ​ | ​ | ​ | ​ | Unrealized/
​ | ​ | Estimated | ​ | Unrecognized | ​ | Estimated | ​ | Unrecognized | ​ | Estimated | ​ | Unrecognized
At December 31, 2021 |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
Available-for-Sale Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government agency securities | ​ | $ | 29,267 | ​ | $ | (730) | ​ | $ | 37,067 | ​ | $ | (930) | ​ | $ | 66,334 | ​ | $ | (1,660)
U.S. State and Municipal securities | ​ | ​ | 8,372 | ​ | ​ | (300) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,372 | ​ | ​ | (300)
Residential MBS | ​ | ​ | 423,686 | ​ | ​ | (9,727) | ​ | ​ | 12,931 | ​ | ​ | (738) | ​ | ​ | 436,617 | ​ | ​ | (10,465)
Commercial MBS | ​ | ​ | 11,202 | ​ | ​ | (296) | ​ | ​ | 3,511 | ​ | ​ | (83) | ​ | ​ | 14,713 | ​ | ​ | (379)
Asset-backed securities | ​ | ​ | 4,613 | ​ | ​ | (22) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,613 | ​ | ​ | (22)
Total securities available-for-sale | ​ | $ | 477,140 | ​ | $ | (11,075) | ​ | $ | 53,509 | ​ | $ | (1,751) | ​ | $ | 530,649 | ​ | $ | (12,826)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-Maturity Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 9,697 | ​ | $ | (43) | ​ | $ | — | ​ | $ | — | ​ | $ | 9,697 | ​ | $ | (43)
Residential MBS | ​ | ​ | 301,896 | ​ | ​ | (2,259) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 301,896 | ​ | ​ | (2,259)
Commercial MBS | ​ | ​ | 8,039 | ​ | ​ | (99) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,039 | ​ | ​ | (99)
Total securities held-to-maturity | ​ | $ | 319,632 | ​ | $ | (2,401) | ​ | $ | — | ​ | $ | — | ​ | $ | 319,632 | ​ | $ | (2,401)

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