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INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2020

Investment Securities Available For Sale [Abstract]

Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale

A summary of amortized cost and approximate fair value of investment securities available for sale included in the consolidated statements of condition as of December 31, 2020 and 2019 follows:

	2020
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
U.S. treasuries	$	2,613	$	—	$	—		$	2,613
U.S. government-sponsored agencies		84,424		2		(655	)		83,771
Mortgage-backed securities-residential		467,915		8,604		(461	)		476,058
SBA pool securities		49,457		31		(359	)		49,129
State and political subdivisions		7,987		102		—			8,089
Corporate bond		3,000		29		—			3,029
Total	$	615,396	$	8,768	$	(1,475	)	$	622,689

	2019
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
U.S. government-sponsored agencies	$	34,961	$	37	$	(214	)	$	34,784
Mortgage-backed securities-residential		337,489		2,365		(950	)		338,904
SBA pool securities		2,799		—		(15	)		2,784
State and political subdivisions		11,175		41		(1	)		11,215
Corporate bond		3,000		68		—			3,068
Total	$	389,424	$	2,511	$	(1,180	)	$	390,755

Schedule of Securities by Maturity

The amortized cost and fair value of investment securities available for sale as of December 31, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities are shown separately.

(In thousands)
Maturing in:	Amortized Cost		Fair Value
One year or less	$	5,500	$	5,515
After one year through five years		5,100		5,187
After five years through ten years		37,473		37,177
After ten years		49,951		49,623
		98,024		97,502
Mortgage-backed securities-residential		467,915		476,058
SBA pool securities		49,457		49,129
Total	$	615,396	$	622,689

Schedule of Gross Gains, Gross Losses and Net Tax Benefit

The following is a summary of the gross gains, gross losses and net tax benefit related to proceeds on sales of securities available for sale for the years ended December 31:

(In thousands)	2020		2019		2018
Proceeds on sales	$	—	$	—	$	19,542
Gross gains		—		—		45
Gross losses		—		—		(333	)
Net tax benefit		—		—		(68	)

Schedule of Available for Sale Securities with Continuous Unrealized Losses and Approximate Fair Value of Investments

The following table presents the Company’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2020 and 2019.

	2020
	Duration of Unrealized Loss
	Less Than 12 Months					12 Months or Longer					Total
	Approximate					Approximate					Approximate
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(In thousands)	Value		Losses			Value		Losses			Value		Losses
U.S. government- sponsored agencies	$	73,769	$	(655	)	$	—	$	—		$	73,769	$	(655	)
Mortgage-backed securities-residential		103,340		(430	)		13,914		(31	)		117,254		(461	)
SBA pool securities		39,720		(343	)		2,095		(16	)		41,815		(359	)
Total	$	216,829	$	(1,428	)	$	16,009	$	(47	)	$	232,838	$	(1,475	)

	2019
	Duration of Unrealized Loss
	Less Than 12 Months					12 Months or Longer					Total
	Approximate					Approximate					Approximate
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(In thousands)	Value		Losses			Value		Losses			Value		Losses
U.S. government- sponsored agencies	$	19,758	$	(214	)	$	—	$	—		$	19,758	$	(214	)
Mortgage-backed securities-residential		78,982		(382	)		69,142		(568	)		148,124		(950	)
SBA pool securities		—		—			2,784		(15	)		2,784		(15	)
State and political subdivisions		783		(1	)		—		—			783		(1	)
Total	$	99,523	$	(597	)	$	71,926	$	(583	)	$	171,449	$	(1,180	)