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Investment in Securities (Tables) | 6 Months Ended
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Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investment Securities | The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows:
| June 30, 2024
(In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
State and political subdivisions | $ | 220,717 |  |  | $ | 8 |  |  | $ | (18,427) |  |  | $ | 202,298 |
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | 212,270 |  |  | — |  |  | (32,447) |  |  | 179,823 |
Corporate bonds | 118,986 |  |  | 17 |  |  | (9,065) |  |  | 109,938 |
Treasury securities | 9,992 |  |  | — |  |  | (19) |  |  | 9,973 |
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | 39,310 |  |  | — |  |  | (540) |  |  | 38,770 |
Total | $ | 601,275 |  |  | $ | 25 |  |  | $ | (60,498) |  |  | $ | 540,802 |
| December 31, 2023
(In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
State and political subdivisions | $ | 235,297 |  |  | $ | 4 |  |  | $ | (16,266) |  |  | $ | 219,035 |
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | 188,307 |  |  | — |  |  | (30,508) |  |  | 157,799 |
Corporate bonds | 111,109 |  |  | — |  |  | (8,769) |  |  | 102,340 |
Treasury securities | 109,836 |  |  | — |  |  | (1,115) |  |  | 108,721 |
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | 40,368 |  |  | — |  |  | (1,146) |  |  | 39,222 |
Total | $ | 684,917 |  |  | $ | 4 |  |  | $ | (57,804) |  |  | $ | 627,117 |
Schedule of Unrealized Loss on Investments | The fair values of securities with unrealized losses are as follows:
| June 30, 2024
| Less than 12 months |  | 12 months or more |  | Total
(In thousands) | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
State and political subdivisions | $ | 4,040 |  |  | $ | 13 |  |  | $ | 189,863 |  |  | $ | 18,414 |  |  | $ | 193,903 |  |  | $ | 18,427 |
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | 36,831 |  |  | 186 |  |  | 142,992 |  |  | 32,261 |  |  | 179,823 |  |  | 32,447 |
Corporate bonds | 17,653 |  |  | 350 |  |  | 82,255 |  |  | 8,715 |  |  | 99,908 |  |  | 9,065 |
Treasury securities | — |  |  | — |  |  | 9,973 |  |  | 19 |  |  | 9,973 |  |  | 19 |
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | — |  |  | — |  |  | 38,770 |  |  | 540 |  |  | 38,770 |  |  | 540 |
Total | $ | 58,524 |  |  | $ | 549 |  |  | $ | 463,853 |  |  | $ | 59,949 |  |  | $ | 522,377 |  |  | $ | 60,498 |
| December 31, 2023
| Less than 12 months |  | 12 months or more |  | Total
(In thousands) | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
State and political subdivisions | $ | 63,198 |  |  | $ | 220 |  |  | $ | 152,854 |  |  | $ | 16,046 |  |  | $ | 216,052 |  |  | $ | 16,266 |
Mortgage-backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | — |  |  | — |  |  | 157,799 |  |  | 30,508 |  |  | 157,799 |  |  | 30,508 |
Corporate bonds | 19,545 |  |  | 455 |  |  | 82,795 |  |  | 8,314 |  |  | 102,340 |  |  | 8,769 |
Treasury securities | — |  |  | — |  |  | 108,721 |  |  | 1,115 |  |  | 108,721 |  |  | 1,115 |
Asset backed securities issued or guaranteed by U.S. government agencies or sponsored enterprises | — |  |  | — |  |  | 39,222 |  |  | 1,146 |  |  | 39,222 |  |  | 1,146 |
Total | $ | 82,743 |  |  | $ | 675 |  |  | $ | 541,391 |  |  | $ | 57,129 |  |  | $ | 624,134 |  |  | $ | 57,804 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The amortized cost and fair value of investment securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.
| June 30, 2024
(In thousands) | Amortized Cost |  | Fair Value
Due in 1 year or less | $ | 44,510 |  |  | $ | 44,388 |
Due after 1 year through 5 years | 132,633 |  |  | 130,220 |
Due after 5 years through 10 years | 205,504 |  |  | 179,664 |
Due after 10 years | 218,628 |  |  | 186,530 |
Total | $ | 601,275 |  |  | $ | 540,802 |

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