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SECURITIES AVAILABLE FOR SALE (Tables)
 9 Months Ended
Sep. 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

September 30, 2025

 

​

  

 

​

  

 

​

  

 

​

  

​

​

​

Debt securities:

 

​

  

 

​

  

 

​

  

 

​

  

​

​

​

Obligations of US Government-sponsored enterprises

​

$

1,139

​

$

—

​

$

(15)

​

$

1,124

​

$

—

Mortgage-backed securities and collateralized mortgage obligations:

 

​

  

 

​

  

 

​

  

 

​

  

​

​

​

US Government-sponsored enterprises

​

​

276,037

​

​

2,680

​

​

(23,778)

​

​

254,939

​

​

—

US Government agency

​

 

151,116

​

 

309

​

 

(10,134)

​

 

141,291

​

​

—

Private label

​

 

11,986

​

 

9

​

 

(869)

​

 

11,126

​

​

—

Obligations of states and political subdivisions thereof

​

 

120,775

​

 

3

​

 

(18,155)

​

 

102,623

​

​

—

Corporate bonds

​

 

89,738

​

 

222

​

 

(3,253)

​

 

86,707

​

​

—

Total available-for-sale debt securities

​

$

650,791

​

$

3,223

​

$

(56,204)

​

$

597,810

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

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​

​

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​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

​

Nine Months Ended September 30,

​

​

​

2025

​

​

2025

(in thousands)

​

​

Corporate Bonds

​

​

Total

​

​

Corporate Bonds

​

​

Total

Beginning Balance

​

$

—

​

$

—

​

$

568

​

$

568

Provision for credit losses on available-for-sale debt securities

​

​

—

​

​

—

​

​

636

​

​

636

Charge-offs

​

​

—

​

​

—

​

​

(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

 

$

9,986

​

$

9,832

Over 1 year to 5 years

​

 

46,362

​

 

45,270

Over 5 years to 10 years

​

 

41,691

​

 

39,470

Over 10 years

​

 

113,613

​

 

95,882

Total bonds and obligations

​

 

211,652

​

 

190,454

Mortgage-backed securities and collateralized mortgage obligations

​

 

439,139

​

 

407,356

Total available-for-sale debt securities

​

$

650,791

​

$

597,810
Schedule of Proceeds from Sales, Calls and Maturities of Available-for-Sale Debt Securities

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

September 30, 

​

September 30, 

(in thousands)

    

2025

    

2024

    

2025

    

2024

Proceeds from sales

​

$

40,987

​

$

—

​

$

40,987

​

$

—

Proceeds from calls/paydowns

​

 

31,559

​

 

10,350

​

​

73,216

​

​

44,006

Proceeds from maturities

​

​

—

​

​

11

​

​

—

​

​

3,011

Gross realized gains

​

​

247

​

​

—

​

​

247

​

​

50

Gross realized losses

​

​

6

​

​

—

​

​

6

​

​

—

Gross impairment losses

​

​

178

​

​

—

​

​

4,571

​

​

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

September 30, 2025

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Debt securities:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Obligations of US Government-sponsored enterprises

​

$

1

​

$

692

​

$

14

​

$

432

​

$

15

​

$

1,124

Mortgage-backed securities and collateralized mortgage obligations:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

US Government-sponsored enterprises

​

​

13

​

​

1,242

​

​

23,765

​

​

157,795

​

​

23,778

​

​

159,037

US Government agency

​

 

1,017

​

 

35,579

​

 

9,117

​

 

70,735

​

 

10,134

​

 

106,314

Private label

​

 

—

​

 

—

​

 

869

​

 

9,102

​

 

869

​

 

9,102

Obligations of states and political subdivisions thereof

​

 

11

​

 

1,290

​

 

18,144

​

 

96,646

​

 

18,155

​

 

97,936

Corporate bonds

​

 

134

​

 

13,858

​

 

3,119

​

 

58,381

​

 

3,253

​

 

72,239

Total available-for-sale debt securities

​

$

1,176

​

$

52,661

​

$

55,028

​

$

393,091

​

$

56,204

​

$

445,752

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

December 31, 2024

​

    

Carrying 

    

Estimated

    

Carrying 

    

Estimated

(in thousands)

​

Value

​

 Fair Value

​

Value

​

 Fair Value

Securities pledged for deposits

​

$

16,650

​

$

14,757

​

$

18,483

​

$

15,821

Securities pledged for repurchase agreements

​

 

15,505

​

 

13,463

​

 

16,764

​

 

14,020

Securities pledged for borrowings (1)

​

 

49,886

​

 

43,452

​

 

35,819

​

 

30,634

Total securities pledged

​

$

82,041

​

$

71,672

​

$

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”).