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Investments in Securities (Tables)

12 Months Ended

Dec. 31, 2024

Investments in Securities

Schedule of amortized cost and fair values of securities


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

		(In Thousands)
AVAILABLE-FOR-SALE SECURITIES:
Agency mortgage-backed securities		$	346,712		$	69		$	40,874		$	305,907
Agency collateralized mortgage obligations			123,395			—			9,771			113,624
States and political subdivisions securities			58,608			69			2,729			55,948
Small Business Administration securities			65,849			—			7,955			57,894
		$	594,564		$	138		$	61,329		$	533,373


		December 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		$	71,065		$	1,864		$	72,929		$	—		$	8,523		$	64,406
Agency collateralized mortgage obligations			110,493			(2,140)			108,353			—			15,495			92,858
States and political subdivisions			6,137			14			6,151			—			650			5,501
		$	187,695		$	(262)		$	187,433		$	—		$	24,668		$	162,765


		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			985			987			—			—
After four through five years			—			—			—			—
After five through fifteen years			10,615			10,313			3,245			2,913
After fifteen years			46,763			44,403			2,906			2,588
Securities not due on a single maturity date			535,956			477,425			181,282			157,264
		$	594,564		$	533,373		$	187,433		$	162,765

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


		2024						2023
		Amortized			Fair			Amortized			Fair
		Cost			Value			Cost			Value

		(In Thousands)

Public deposits		$	13,880		$	11,801		$	17,412		$	15,225
Collateralized borrowing accounts			86,561			76,871			123,220			109,660
FHLBank borrowing account			91,900			90,544			—			—
Federal Reserve Bank’s Bank Term Funding Program			186,836			161,620			—			—
Other			3,572			3,270			3,815			3,507
		$	382,749		$	344,106		$	144,447		$	128,392

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


		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		$	45,977		$	(1,008)		$	253,971		$	(39,866)		$	299,948		$	(40,874)
Agency collateralized mortgage obligations			50,720			(890)			62,903			(8,881)			113,623			(9,771)
Small Business Administration securities			7,229			(270)			50,665			(7,685)			57,894			(7,955)
States and political subdivisions securities			14,523			(343)			37,945			(2,386)			52,468			(2,729)
		$	118,449		$	(2,511)		$	405,484		$	(58,818)		$	523,933		$	(61,329)

HELD-TO-MATURITY SECURITIES:
Agency mortgage-backed securities		$	—		$	—		$	64,406		$	(8,523)		$	64,406		$	(8,523)
Agency collateralized mortgage obligations			—			—			92,858			(15,495)			92,858			(15,495)
States and political subdivisions securities			—			—			5,501			(650)			5,501			(650)
		$	—		$	—		$	162,765		$	(24,668)		$	162,765		$	(24,668)


		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)