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SECURITIES AVAILABLE FOR SALE (Tables) | 6 Months Ended
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Jun. 30, 2025
SECURITIES AVAILABLE FOR SALE |
Summary of Available-for-Sale Debt Securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value | ​ | Allowance
June 30, 2025 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​
Debt securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​
Obligations of US Government-sponsored enterprises | ​ | $ | 1,205 | ​ | $ | 2 | ​ | $ | (16) | ​ | $ | 1,191 | ​ | $ | —
Mortgage-backed securities and collateralized mortgage obligations: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​
US Government-sponsored enterprises | ​ | ​ | 208,574 | ​ | ​ | 169 | ​ | ​ | (26,089) | ​ | ​ | 182,654 | ​ | ​ | —
US Government agency | ​ |  | 143,667 | ​ |  | 170 | ​ |  | (10,458) | ​ |  | 133,379 | ​ | ​ | —
Private label | ​ |  | 19,186 | ​ |  | 25 | ​ |  | (919) | ​ |  | 18,292 | ​ | ​ | —
Obligations of states and political subdivisions thereof | ​ |  | 121,284 | ​ |  | 1 | ​ |  | (22,678) | ​ |  | 98,607 | ​ | ​ | —
Corporate bonds | ​ |  | 98,861 | ​ |  | 246 | ​ |  | (4,540) | ​ |  | 94,567 | ​ | ​ | —
Total available-for-sale debt securities | ​ | $ | 592,777 | ​ | $ | 613 | ​ | $ | (64,700) | ​ | $ | 528,690 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Amortized Cost |  | Gains |  | Losses |  | Fair Value | ​ | Allowance
December 31, 2024 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​
Debt securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​
Obligations of US Government-sponsored enterprises | ​ | $ | 1,344 | ​ | $ | — | ​ | $ | (26) | ​ | $ | 1,318 | ​ | $ | —
Mortgage-backed securities and collateralized mortgage obligations: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​
US Government-sponsored enterprises | ​ | ​ | 208,818 | ​ | ​ | 22 | ​ | ​ | (31,524) | ​ | ​ | 177,316 | ​ | ​ | —
US Government agency | ​ |  | 115,177 | ​ |  | 53 | ​ |  | (11,314) | ​ |  | 103,916 | ​ | ​ | —
Private label | ​ |  | 40,633 | ​ |  | 25 | ​ |  | (1,094) | ​ |  | 39,564 | ​ | ​ | —
Obligations of states and political subdivisions thereof | ​ |  | 116,421 | ​ |  | 5,564 | ​ |  | (16,533) | ​ |  | 105,452 | ​ | ​ | —
Corporate bonds | ​ |  | 100,923 | ​ |  | 290 | ​ |  | (7,761) | ​ |  | 93,452 | ​ | ​ | (568)
Total available-for-sale debt securities | ​ | $ | 583,316 | ​ | $ | 5,954 | ​ | $ | (68,252) | ​ | $ | 521,018 | ​ | $ | (568)
Schedule of Allowance for Credit Losses on Available-for-Sale Debt Securities Held | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ | ​ | 2025 | ​ | 2025
(in thousands) | ​ | ​ | Corporate Bonds | ​ | ​ | Total | ​ | ​ | Corporate Bonds | ​ | ​ | Total
Beginning Balance | ​ | $ | 1,204 | ​ | $ | 1,204 | ​ | $ | 568 | ​ | $ | 568
Provision for credit losses on available-for-sale debt securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 636 | ​ | ​ | 636
Charge-offs | ​ | ​ | (1,204) | ​ | ​ | (1,204) | ​ | ​ | (1,204) | ​ | ​ | (1,204)
Ending Balance | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Schedule of Amortized Cost and Estimated Fair Value of Available-for-Sale Securities, Segregated by Contractual Maturity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Available for sale
(in thousands) |  | Amortized Cost |  | Fair Value
Within 1 year |  | $ | 6,011 | ​ | $ | 5,947
Over 1 year to 5 years | ​ |  | 54,721 | ​ |  | 53,036
Over 5 years to 10 years | ​ |  | 45,353 | ​ |  | 42,337
Over 10 years | ​ |  | 115,265 | ​ |  | 93,045
Total bonds and obligations | ​ |  | 221,350 | ​ |  | 194,365
Mortgage-backed securities and collateralized mortgage obligations | ​ |  | 371,427 | ​ |  | 334,325
Total available-for-sale debt securities | ​ | $ | 592,777 | ​ | $ | 528,690
Schedule of Proceeds from Sales, Calls and Maturities of Available-for-Sale Debt Securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Proceeds from sales | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Proceeds from calls/paydowns | ​ |  | 13,321 | ​ |  | 25,917 | ​ | ​ | 41,656 | ​ | ​ | 33,656
Proceeds from maturities | ​ | ​ | — | ​ | ​ | 3,000 | ​ | ​ | — | ​ | ​ | 3,000
Gross realized gains | ​ | ​ | — | ​ | ​ | 50 | ​ | ​ | — | ​ | ​ | 50
Gross impairment losses | ​ | ​ | 4,393 | ​ | ​ | — | ​ | ​ | 4,393 | ​ | ​ | —
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, 2025 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Debt securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Obligations of US Government-sponsored enterprises | ​ | $ | — | ​ | $ | — | ​ | $ | 16 | ​ | $ | 491 | ​ | $ | 16 | ​ | $ | 491
Mortgage-backed securities and collateralized mortgage obligations: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
US Government-sponsored enterprises | ​ | ​ | 14 | ​ | ​ | 5,205 | ​ | ​ | 26,075 | ​ | ​ | 160,315 | ​ | ​ | 26,089 | ​ | ​ | 165,520
US Government agency | ​ |  | 1,323 | ​ |  | 49,018 | ​ |  | 9,135 | ​ |  | 62,479 | ​ |  | 10,458 | ​ |  | 111,497
Private label | ​ |  | — | ​ |  | — | ​ |  | 919 | ​ |  | 10,001 | ​ |  | 919 | ​ |  | 10,001
Obligations of states and political subdivisions thereof | ​ |  | 84 | ​ |  | 3,402 | ​ |  | 22,594 | ​ |  | 92,150 | ​ |  | 22,678 | ​ |  | 95,552
Corporate bonds | ​ |  | 98 | ​ |  | 11,893 | ​ |  | 4,442 | ​ |  | 63,063 | ​ |  | 4,540 | ​ |  | 74,956
Total available-for-sale debt securities | ​ | $ | 1,519 | ​ | $ | 69,518 | ​ | $ | 63,181 | ​ | $ | 388,499 | ​ | $ | 64,700 | ​ | $ | 458,017
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Debt securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Obligations of US Government-sponsored enterprises | ​ | $ | 2 | ​ | $ | 707 | ​ | $ | 24 | ​ | $ | 611 | ​ | $ | 26 | ​ | $ | 1,318
Mortgage-backed securities and collateralized mortgage obligations: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
US Government-sponsored enterprises | ​ | ​ | 109 | ​ | ​ | 8,003 | ​ | ​ | 31,415 | ​ | ​ | 165,116 | ​ | ​ | 31,524 | ​ | ​ | 173,119
US Government agency | ​ |  | 817 | ​ |  | 35,174 | ​ |  | 10,497 | ​ |  | 60,789 | ​ |  | 11,314 | ​ |  | 95,963
Private label | ​ |  | 1 | ​ |  | 948 | ​ |  | 1,093 | ​ |  | 19,839 | ​ |  | 1,094 | ​ |  | 20,787
Obligations of states and political subdivisions thereof | ​ |  | 115 | ​ |  | 4,962 | ​ |  | 16,418 | ​ |  | 99,109 | ​ |  | 16,533 | ​ |  | 104,071
Corporate bonds | ​ |  | 26 | ​ |  | 2,438 | ​ |  | 4,495 | ​ |  | 75,002 | ​ |  | 4,521 | ​ |  | 77,440
Total available-for-sale debt securities | ​ | $ | 1,070 | ​ | $ | 52,232 | ​ | $ | 63,942 | ​ | $ | 420,466 | ​ | $ | 65,012 | ​ | $ | 472,698
Summary of Securities Pledged as Collateral |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025 | ​ | December 31, 2024
​ |  | Carrying |  | Estimated |  | Carrying |  | Estimated
(in thousands) | ​ | Value | ​ | Fair Value | ​ | Value | ​ | Fair Value
Securities pledged for deposits | ​ | $ | 17,200 | ​ | $ | 15,234 | ​ | $ | 18,483 | ​ | $ | 15,821
Securities pledged for repurchase agreements | ​ |  | 15,926 | ​ |  | 13,646 | ​ |  | 16,764 | ​ |  | 14,020
Securities pledged for borrowings (1) | ​ |  | 35,697 | ​ |  | 28,223 | ​ |  | 35,819 | ​ |  | 30,634
Total securities pledged | ​ | $ | 68,823 | ​ | $ | 57,103 | ​ | $ | 71,066 | ​ | $ | 60,475
​
| (1) | The Bank pledged securities as collateral for certain borrowing arrangements with the Federal Home Loan Bank of Boston and the Federal Reserve Bank of Boston (the “Reserve Bank”).

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