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SECURITIES AVAILABLE FOR SALE (Tables)

6 Months Ended

Jun. 30, 2023

SECURITIES AVAILABLE FOR SALE

Summary of Securities Available for Sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

​

​

(in thousands)

Amortized Cost

Gains

Losses

Fair Value

June 30, 2023

​

​

​

​

Mortgage-backed securities:

​

​

​

​

US Government-sponsored enterprises

​

$

237,839

​

$

2

​

$

(34,081)

​

$

203,760

US Government agency

​

89,021

​

4

​

(12,002)

​

77,023

Private label

​

61,679

​

24

​

(2,846)

​

58,857

Obligations of states and political subdivisions thereof

​

120,024

​

5,811

​

(17,495)

​

108,340

Corporate bonds

​

101,498

​

33

​

(11,333)

​

90,198

Total securities available for sale

​

$

610,061

​

$

5,874

​

$

(77,757)

​

$

538,178

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

​

​

(in thousands)

Amortized Cost

Gains

Losses

Fair Value

December 31, 2022

​

​

​

​

Mortgage-backed securities:

​

​

​

​

US Government-sponsored enterprises

​

$

249,838

​

$

14

​

$

(34,825)

​

$

215,027

US Government agency

​

93,010

​

21

​

(10,765)

​

82,266

Private label

​

64,056

​

34

​

(3,936)

​

60,154

Obligations of states and political subdivisions thereof

​

121,939

​

7,149

​

(21,351)

​

107,737

Corporate bonds

​

102,505

​

33

​

(8,206)

​

94,332

Total securities available for sale

​

$

631,348

​

$

7,251

​

$

(79,083)

​

$

559,516

Schedule of Amortized Cost and Estimated Fair Value of Available for Sale (AFS) Securities, Segregated by Contractual Maturity

​

​	​	​	​	​	​	​
​	​	Available for sale
(in thousands)		Amortized Cost			Fair Value
Within 1 year		$	3,195	​	$	3,112
Over 1 year to 5 years	​		36,271	​		33,518
Over 5 years to 10 years	​		54,326	​		52,686
Over 10 years	​		127,730	​		109,222
Total bonds and obligations	​		221,522	​		198,538
Mortgage-backed securities	​		388,539	​		339,640
Total securities available for sale	​	$	610,061	​	$	538,178

Schedule of Gains and Losses from Sale of AFS Securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

​

June 30,

​

June 30,

​

(in thousands)

2023

2022

2023

2022

Gross gains on sales of available for sale securities

​

$

—

​

$

—

​

$

34

​

$

9

​

Gross losses on sales of available for sale securities

​

—

​

—

​

—

​

—

​

Net gains on sale of available for sale securities

​

$

—

​

$

—

​

$

34

​

$

9

​

Schedule of Securities with Unrealized Losses, Segregated by the Duration of Continuous Unrealized Loss Positions

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less Than Twelve Months

​

Over Twelve Months

​

Total

​

​

Gross

​

​

Gross

​

​

Gross

​

​

​

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

(in thousands)

Losses

Value

Losses

Value

Losses

Value

June 30, 2023

​

​

​

​

​

​

Mortgage-backed securities:

​

​

​

​

​

​

US Government-sponsored enterprises

​

$

1,766

​

$

33,148

​

$

32,315

​

$

169,804

​

$

34,081

​

$

202,952

US Government agency

​

1,100

​

20,772

​

10,902

​

54,776

​

12,002

​

75,548

Private label

​

—

​

26

​

2,846

​

58,807

​

2,846

​

58,833

Obligations of states and political subdivisions thereof

​

200

​

9,792

​

17,295

​

95,851

​

17,495

​

105,643

Corporate bonds

​

4,504

​

31,481

​

6,829

​

55,684

​

11,333

​

87,165

Total securities available for sale

​

$

7,570

​

$

95,219

​

$

70,187

​

$

434,922

​

$

77,757

​

$

530,141

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less Than Twelve Months

​

Over Twelve Months

​

Total

​

Gross

​

​

Gross

​

​

Gross

​

​

​

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

(in thousands)

​

Losses

​

Value

​

Losses

​

Value

​

Losses

​

Value

December 31, 2022

​

​

​

​

​

​

Mortgage-backed securities:

​

​

​

​

​

​

US Government-sponsored enterprises

​

$

7,005

​

$

82,483

​

$

27,820

​

$

127,745

​

$

34,825

​

$

210,228

US Government agency

​

2,902

​

42,865

​

7,863

​

34,988

​

10,765

​

77,853

Private label

​

841

​

15,694

​

3,095

​

44,396

​

3,936

​

60,090

Obligations of states and political subdivisions thereof

​

7,990

​

48,799

​

13,361

​

55,702

​

21,351

​

104,501

Corporate bonds

​

4,733

​

65,279

​

3,473

​

25,027

​

8,206

​

90,306

Total securities available for sale

​

$

23,471

​

$

255,120

​

$

55,612

​

$

287,858

​

$

79,083

​

$

542,978

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

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-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
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