XML 52 R38.htm IDEA: XBRL DOCUMENT

Investments in Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments in Securities

Schedule of amortized cost and fair values of securities


		December 31, 2023
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	316,114		$	7		$	35,890		$	280,231
Agency collateralized mortgage obligations			85,989			—			10,043			75,946
States and political subdivisions securities			59,141			527			1,531			58,137
Small Business Administration securities			70,648			—			6,755			63,893
		$	531,892		$	534		$	54,219		$	478,207


		December 31, 2023
								Amortized			Gross			Gross
		Amortized			Fair Value			Carrying			Unrealized			Unrealized			Fair
		Cost			Adjustment			Value			Gains			Losses			Value

		(In Thousands)
HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	72,495		$	2,436		$	74,931		$	—		$	8,686		$	66,245
Agency collateralized mortgage obligations			116,405			(2,502)			113,903			—			14,662			99,241
States and political subdivisions			6,188			1			6,189			—			482			5,707
		$	195,088		$	(65)		$	195,023		$	—		$	23,830		$	171,193


		December 31, 2022
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	327,266		$	—		$	40,784		$	286,482
Agency collateralized mortgage obligations			90,205			—			11,731			78,474
States and political subdivisions securities			60,667			119			3,291			57,495
Small Business Administration securities			75,076			—			6,935			68,141
		$	553,214		$	119		$	62,741		$	490,592


		December 31, 2022
								Amortized			Gross			Gross
		Amortized			Fair Value			Carrying			Unrealized			Unrealized			Fair
		Cost			Adjustment			Value			Gains			Losses			Value

		(In Thousands)
HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	73,891		$	3,015		$	76,906		$	—		$	9,820		$	67,086
Agency collateralized mortgage obligations			122,247			(2,885)			119,362			—			14,129			105,233
States and political subdivisions			6,239			(12)			6,227			—			781			5,446
		$	202,377		$	118		$	202,495		$	—		$	24,730		$	177,765

Schedule of amortized cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity


		Available-for-Sale						Held-to-Maturity
		Amortized			Fair			Amortized			Fair
		Cost			Value			Carrying Value			Value

		(In Thousands)
One year or less		$	—		$	—		$	—		$	—
After one through two years			—			—			—			—
After two through three years			—			—			—			—
After three through four years			245			245			—			—
After four through five years			952			981			—			—
After five through fifteen years			9,682			9,634			3,247			2,986
After fifteen years			48,262			47,277			2,942			2,721
Securities not due on a single maturity date			472,751			420,070			188,834			165,486
		$	531,892		$	478,207		$	195,023		$	171,193

Schedule of amortized cost and fair values of securities pledged as collateral


		2023						2022
		Amortized			Fair			Amortized			Fair
		Cost			Value			Cost			Value

		(In Thousands)

Public deposits		$	17,412		$	15,225		$	15,402		$	13,489
Collateralized borrowing accounts			123,220			109,660			210,330			186,170
Other			3,815			3,507			4,018			3,764
		$	144,447		$	128,392		$	229,750		$	203,423

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position


		2023
		Less than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
Description of Securities		Value			Losses			Value			Losses			Value			Losses

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	4,318		$	(9)		$	274,801		$	(35,881)		$	279,119		$	(35,890)
Agency collateralized mortgage obligations			9,080			(216)			66,866			(9,827)			75,946			(10,043)
Small Business Administration securities			7,782			(133)			56,111			(6,622)			63,893			(6,755)
States and political subdivisions securities			—			—			37,969			(1,531)			37,969			(1,531)
		$	21,180		$	(358)		$	435,747		$	(53,861)		$	456,927		$	(54,219)

HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	—		$	—		$	66,245		$	(8,686)		$	66,245		$	(8,686)
Agency collateralized mortgage obligations			—			—			99,241			(14,662)			99,241			(14,662)
States and political subdivisions securities			—			—			5,707			(482)			5,707			(482)
		$	—		$	—		$	171,193		$	(23,830)		$	171,193		$	(23,830)


		2022
		Less than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
Description of Securities		Value			Losses			Value			Losses			Value			Losses

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	221,562		$	(27,597)		$	64,918		$	(13,187)		$	286,480		$	(40,784)
Agency collateralized mortgage obligations			28,537			(3,262)			40,642			(8,469)			69,179			(11,731)
Small Business Administration securities			60,473			(5,224)			7,667			(1,711)			68,140			(6,935)
States and political subdivisions securities			44,455			(2,913)			3,753			(378)			48,208			(3,291)
		$	355,027		$	(38,996)		$	116,980		$	(23,745)		$	472,007		$	(62,741)

HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	59,218		$	(7,766)		$	7,868		$	(2,054)		$	67,086		$	(9,820)
Agency collateralized mortgage obligations			61,055			(6,411)			44,178			(7,718)			105,233			(14,129)
States and political subdivisions securities			900			(101)			4,546			(680)			5,446			(781)
		$	121,173		$	(14,278)		$	56,592		$	(10,452)		$	177,765		$	(24,730)