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INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

INVESTMENT SECURITIES

Schedule of amortized cost and fair values of securities


		March 31, 2024
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	312,068		$	—		$	40,816		$	271,252
Agency collateralized mortgage obligations			85,549			—			10,242			75,307
States and political subdivisions			59,009			182			2,208			56,983
Small Business Administration securities			69,609			—			7,843			61,766
		$	526,235		$	182		$	61,109		$	465,308


		March 31, 2024
								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		$	72,194		$	2,293		$	74,487		$	—		$	9,210		$	65,277
Agency collateralized mortgage obligations			115,110			(2,410)			112,700			—			15,819			96,881
States and political subdivisions			6,174			5			6,179			—			581			5,598
		$	193,478		$	(112)		$	193,366		$	—		$	25,610		$	167,756


		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

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			960			974			—			—
After five through fifteen years			10,726			10,534			3,247			2,931
After fifteen years			47,078			45,230			2,932			2,667
Securities not due on a single maturity date			467,226			408,325			187,187			162,158
		$	526,235		$	465,308		$	193,366		$	167,756

Schedule of fair value and unrealized loss for available-for-sale securities and held-to-maturity securities


		March 31, 2024
		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		$	5,369		$	(46)		$	265,883		$	(40,770)		$	271,252		$	(40,816)
Agency collateralized mortgage obligations			—			—			75,307			(10,242)			75,307			(10,242)
Small Business Administration securities			—			—			61,766			(7,843)			61,766			(7,843)
States and political subdivisions securities			13,200			(143)			37,304			(2,065)			50,504			(2,208)
		$	18,569		$	(189)		$	440,260		$	(60,920)		$	458,829		$	(61,109)

HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	—		$	—		$	65,277		$	(9,210)		$	65,277		$	(9,210)
Agency collateralized mortgage obligations			—			—			96,881			(15,819)			96,881			(15,819)
States and political subdivisions securities			—			—			5,598			(581)			5,598			(581)
		$	—		$	—		$	167,756		$	(25,610)		$	167,756		$	(25,610)


		December 31, 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)