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INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2024

INVESTMENT SECURITIES

Schedule of amortized cost and fair values of securities


		September 30, 2024
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	352,265		$	1,900		$	28,060		$	326,105
Agency collateralized mortgage obligations			125,421			1,626			7,385			119,662
States and political subdivisions			58,742			324			1,475			57,591
Small Business Administration securities			67,449			87			5,669			61,867
		$	603,877		$	3,937		$	42,589		$	565,225


		September 30, 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		$	71,375		$	2,005		$	73,380		$	—		$	6,351		$	67,029
Agency collateralized mortgage obligations			111,936			(2,220)			109,716			—			12,327			97,389
States and political subdivisions			6,150			11			6,161			—			537			5,624
		$	189,461		$	(204)		$	189,257		$	—		$	19,215		$	170,042


		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			245			245			—			—
After three through four years			977			995			—			—
After four through five years			—			—			—			—
After five through fifteen years			10,652			10,523			3,246			2,953
After fifteen years			46,868			45,828			2,915			2,671
Securities not due on a single maturity date			545,135			507,634			183,096			164,418
		$	603,877		$	565,225		$	189,257		$	170,042

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


		September 30, 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		$	3,784		$	(34)		$	269,222		$	(28,026)		$	273,006		$	(28,060)
Agency collateralized mortgage obligations			—			—			66,735			(7,385)			66,735			(7,385)
States and political subdivisions securities			1,349			(11)			37,640			(1,464)			38,989			(1,475)
Small Business Administration securities			—			—			54,140			(5,669)			54,140			(5,669)
		$	5,133		$	(45)		$	427,737		$	(42,544)		$	432,870		$	(42,589)

HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	—		$	—		$	67,030		$	(6,351)		$	67,030		$	(6,351)
Agency collateralized mortgage obligations			—			—			97,389			(12,327)			97,389			(12,327)
States and political subdivisions securities			—			—			5,623			(537)			5,623			(537)
		$	—		$	—		$	170,042		$	(19,215)		$	170,042		$	(19,215)


		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)
States and political subdivisions securities			7,782			(133)			56,111			(6,622)			63,893			(6,755)
Small Business Administration 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)