XML 103 R33.htm IDEA: XBRL DOCUMENT
v3.20.1

Investments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities | The following table summarizes the cost and estimated fair values of the Company's investment in equity securities, FHLBB stock and FRBB stock as presented within other investments on the consolidated statements of condition, as of the dates indicated:
(In thousands) |  | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value / Carrying Value
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Equity securities - bank stock (carried at fair value) |  | $ | 544 |  |  | $ | 1,130 |  |  | $ | — |  |  | $ | 1,674 |
FHLBB (carried at cost) |  | 6,601 |  |  | — |  |  | — |  |  | 6,601 |
FRB (carried at cost) |  | 5,374 |  |  | — |  |  | — |  |  | 5,374 |
Total other investments |  | $ | 12,519 |  |  | $ | 1,130 |  |  | $ | — |  |  | $ | 13,649 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Equity securities - bank stock (carried at fair value) |  | $ | 544 |  |  | $ | 202 |  |  | $ | — |  |  | $ | 746 |
FHLBB (carried at cost) |  | 8,559 |  |  | — |  |  | — |  |  | 8,559 |
FRB (carried at cost) |  | 5,374 |  |  | — |  |  | — |  |  | 5,374 |
Total other investments |  | $ | 14,477 |  |  | $ | 202 |  |  | $ | — |  |  | $ | 14,679 |
The following table summarizes the amortized costs and estimated fair values of AFS and HTM securities, as of the dates indicated:
(In thousands) |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
AFS Investments (carried at fair value): |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 115,632 |  |  | $ | 2,779 |  |  | $ | (328 | ) |  | $ | 118,083 |
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises |  | 462,593 |  |  | 3,398 |  |  | (2,605 | ) |  | 463,386 |
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises |  | 325,200 |  |  | 3,183 |  |  | (2,478 | ) |  | 325,905 |
Subordinated corporate bonds |  | 10,553 |  |  | 191 |  |  | — |  |  | 10,744 |
Total AFS investments |  | $ | 913,978 |  |  | $ | 9,551 |  |  | $ | (5,411 | ) |  | $ | 918,118 |
HTM Investments (carried at amortized cost): |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 1,302 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 1,359 |
Total HTM investments |  | $ | 1,302 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 1,359 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
AFS Investments (carried at fair value): |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 94,430 |  |  | $ | 216 |  |  | $ | (894 | ) |  | $ | 93,752 |
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises |  | 466,613 |  |  | 583 |  |  | (13,524 | ) |  | 453,672 |
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises |  | 351,958 |  |  | 1,007 |  |  | (10,071 | ) |  | 342,894 |
Subordinated corporate bonds |  | 20,398 |  |  | 23 |  |  | (47 | ) |  | 20,374 |
Total AFS investments |  | $ | 933,399 |  |  | $ | 1,829 |  |  | $ | (24,536 | ) |  | $ | 910,692 |
HTM Securities (carried at amortized cost): |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 1,307 |  |  | $ | 8 |  |  | $ | (24 | ) |  | $ | 1,291 |
Total HTM investments |  | $ | 1,307 |  |  | $ | 8 |  |  | $ | (24 | ) |  | $ | 1,291 |
Unrealized Gross Losses and Estimated Fair Values of Investment Securities by Length of Time that Individual Securities in Each Category in Continuous Loss Position | The following table presents the estimated fair values and gross unrealized losses on AFS and HTM investments that were in a continuous loss position that was considered temporary, by length of time that an individual security in each category has been in a continuous loss position as of the dates indicated:
|  |  |  | Less Than 12 Months |  | 12 Months or More |  | Total
(In thousands, except number of holdings) |  | Number of Holdings |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | 11 |  |  | $ | 30,459 |  |  | $ | (328 | ) |  | $ | — |  |  | $ | — |  |  | $ | 30,459 |  |  | $ | (328 | )
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises |  | 59 |  |  | 162,964 |  |  | (1,850 | ) |  | 63,633 |  |  | (755 | ) |  | 226,597 |  |  | (2,605 | )
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises |  | 35 |  |  | 66,549 |  |  | (733 | ) |  | 68,614 |  |  | (1,745 | ) |  | 135,163 |  |  | (2,478 | )
Total AFS investments |  | 105 |  |  | $ | 259,972 |  |  | $ | (2,911 | ) |  | $ | 132,247 |  |  | $ | (2,500 | ) |  | $ | 392,219 |  |  | $ | (5,411 | )
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | 114 |  |  | $ | 36,218 |  |  | $ | (281 | ) |  | $ | 28,437 |  |  | $ | (613 | ) |  | $ | 64,655 |  |  | $ | (894 | )
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises |  | 117 |  |  | 46,459 |  |  | (252 | ) |  | 364,430 |  |  | (13,272 | ) |  | 410,889 |  |  | (13,524 | )
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises |  | 63 |  |  | 5,956 |  |  | (40 | ) |  | 227,461 |  |  | (10,031 | ) |  | 233,417 |  |  | (10,071 | )
Subordinated corporate bonds |  | 6 |  |  | 11,378 |  |  | (26 | ) |  | 966 |  |  | (21 | ) |  | 12,344 |  |  | (47 | )
Total AFS investments |  | 300 |  |  | $ | 100,011 |  |  | $ | (599 | ) |  | $ | 621,294 |  |  | $ | (23,937 | ) |  | $ | 721,305 |  |  | $ | (24,536 | )
HTM Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | 2 |  |  | $ | 509 |  |  | $ | (5 | ) |  | $ | 411 |  |  | $ | (19 | ) |  | $ | 920 |  |  | $ | (24 | )
Total HTM investments |  | 2 |  |  | $ | 509 |  |  | $ | (5 | ) |  | $ | 411 |  |  | $ | (19 | ) |  | $ | 920 |  |  | $ | (24 | )
Company's Sales of Securities | The following table details the Company’s sales of investments for the periods indicated below:
|  | For The Year Ended December 31,
(In thousands) |  | 2019 |  | 2018 |  | 2017
Proceeds from sales of AFS investments(1) |  | $ | 207,001 |  |  | $ | 56,155 |  |  | $ | 20,366 |
Gross realized gains |  | 1,427 |  |  | 32 |  |  | 869 |
Gross realized losses |  | (1,532 | ) |  | (695 | ) |  | (14 | )
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity | The amortized cost and estimated fair values of AFS and HTM investments by contractual maturity at December 31, 2019 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands) |  | Amortized Cost |  | Fair Value
AFS Investments |  |  |  |
Due in one year or less |  | $ | — |  |  | $ | — |
Due after one year through five years |  | 76,027 |  |  | 76,341 |
Due after five years through ten years |  | 207,757 |  |  | 208,866 |
Due after ten years |  | 630,194 |  |  | 632,911 |
|  | $ | 913,978 |  |  | $ | 918,118 |
HTM Investments |  |  |  |
Due in one year or less |  | $ | — |  |  | $ | — |
Due after one year through five years |  | 512 |  |  | 532 |
Due after five years through ten years |  | 790 |  |  | 827 |
Due after ten years |  | — |  |  | — |
|  | $ | 1,302 |  |  | $ | 1,359 |

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration