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SECURITIES AVAILABLE FOR SALE (Tables)
 3 Months Ended
Mar. 31, 2024
SECURITIES AVAILABLE FOR SALE  
Summary of Securities Available for Sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

 Unrealized

​

 Unrealized

​

​

​

(in thousands)

    

Amortized Cost

    

 Gains

    

 Losses

    

Fair Value

March 31, 2024

 

​

  

 

​

  

 

​

  

 

​

  

Debt securities:

 

​

  

 

​

  

 

​

  

 

​

  

Obligations of US Government-sponsored enterprises

​

$

1,718

​

$

—

​

$

(31)

​

$

1,687

Mortgage-backed securities and collateralized mortgage obligations:

 

​

  

 

​

  

 

​

  

 

​

  

US Government-sponsored enterprises

​

​

218,631

​

​

4

​

​

(32,811)

​

​

185,824

US Government agency

​

 

87,527

​

 

79

​

 

(11,424)

​

 

76,182

Private label

​

 

60,520

​

 

18

​

 

(1,506)

​

 

59,032

Obligations of states and political subdivisions thereof

​

 

118,605

​

 

5,425

​

 

(15,924)

​

 

108,106

Corporate bonds

​

 

105,550

​

 

1

​

 

(8,779)

​

 

96,772

Total securities available for sale

​

$

592,551

​

$

5,527

​

$

(70,475)

​

$

527,603

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

 Unrealized

​

 Unrealized

​

​

​

(in thousands)

    

Amortized Cost

    

 Gains

    

 Losses

    

Fair Value

December 31, 2023

​

 

  

​

 

  

​

 

  

​

 

  

Debt securities:

​

 

  

​

 

  

​

 

  

​

 

  

Obligations of US Government-sponsored enterprises

​

$

2,021

​

$

—

​

$

(29)

​

$

1,992

Mortgage-backed securities and collateralized mortgage obligations:

​

 

  

​

 

  

​

 

  

​

 

  

US Government-sponsored enterprises

​

​

223,602

​

​

12

​

​

(30,332)

​

​

193,282

US Government agency

​

 

85,005

​

 

145

​

 

(10,937)

​

 

74,213

Private label

​

 

60,888

​

 

18

​

 

(1,855)

​

 

59,051

Obligations of states and political subdivisions thereof

​

 

119,857

​

 

4,515

​

 

(14,204)

​

 

110,168

Corporate bonds

​

 

105,552

​

 

19

​

 

(9,703)

​

 

95,868

Total securities available for sale

​

$

596,925

​

$

4,709

​

$

(67,060)

​

$

534,574
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

 

$

4,024

​

$

4,024

Over 1 year to 5 years

​

 

52,916

​

 

49,626

Over 5 years to 10 years

​

 

42,276

​

 

43,158

Over 10 years

​

 

126,657

​

 

109,757

Total bonds and obligations

​

 

225,873

​

 

206,565

Mortgage-backed securities and collateralized mortgage obligations

​

 

366,678

​

 

321,038

Total securities available for sale

​

$

592,551

​

$

527,603
Schedule of Gains and Losses from Sale of AFS Securities

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

March 31, 

(in thousands)

    

2024

    

2023

Gross gains on sales of available for sale securities

​

$

—

​

$

34

Gross losses on sales of available for sale securities

​

 

—

​

 

—

Net gains on sale of available for sale securities

​

$

—

​

$

34
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

March 31, 2024

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Debt securities:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Obligations of US Government-sponsored enterprises

​

$

1

​

$

865

​

$

30

​

$

823

​

$

31

​

$

1,688

Mortgage-backed securities and collateralized mortgage obligations:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

US Government-sponsored enterprises

​

​

50

​

​

3,071

​

​

32,761

​

​

182,199

​

​

32,811

​

​

185,270

US Government agency

​

 

62

​

 

6,901

​

 

11,362

​

 

66,391

​

 

11,424

​

 

73,292

Private label

​

 

1

​

 

23

​

 

1,505

​

 

57,494

​

 

1,506

​

 

57,517

Obligations of states and political subdivisions thereof

​

 

26

​

 

4,922

​

 

15,898

​

 

100,867

​

 

15,924

​

 

105,789

Corporate bonds

​

 

70

​

 

6,952

​

 

8,709

​

 

88,789

​

 

8,779

​

 

95,741

Total securities available for sale

​

$

210

​

$

22,734

​

$

70,265

​

$

496,563

​

$

70,475

​

$

519,297

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2023

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Debt securities:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Obligations of US Government-sponsored enterprises

​

$

1

​

$

1,084

​

$

28

​

$

907

​

$

29

​

$

1,991

Mortgage-backed securities and collateralized mortgage obligations:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

US Government-sponsored enterprises

​

​

10

​

​

3,439

​

​

30,322

​

​

188,611

​

​

30,332

​

​

192,050

US Government agency

​

 

2

​

 

120

​

 

10,935

​

 

68,891

​

 

10,937

​

 

69,011

Private label

​

 

—

​

 

26

​

 

1,855

​

 

59,007

​

 

1,855

​

 

59,033

Obligations of states and political subdivisions thereof

​

 

26

​

 

3,099

​

 

14,178

​

 

101,036

​

 

14,204

​

 

104,135

Corporate bonds

​

 

156

​

 

4,913

​

 

9,547

​

 

84,950

​

 

9,703

​

 

89,863

Total securities available for sale

​

$

195

​

$

12,681

​

$

66,865

​

$

503,402

​

$

67,060

​

$

516,083