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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2024

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 and held to maturity included in the consolidated statements of condition as of December 31, 2024 and 2023 follows:

		2024
						Gross				Gross				Allowance
		Amortized				Unrealized				Unrealized				For Credit				Fair
(In thousands)		Cost				Gains				Losses				Losses				Value
Securities Available for Sale:
U.S. government-sponsored agencies		$	244,813			$	—			$	(47,899	)		$	—			$	196,914
Mortgage-backed securities-residential			595,789				1,086				(48,263	)			—				548,612
SBA pool securities			27,772				—				(3,290	)			—				24,482
Corporate bond			15,500				105				(1,069	)			—				14,536
Total securities available for sale		$	883,874			$	1,191			$	(100,521	)		$	—			$	784,544
Securities Held to Maturity:
U.S. government-sponsored agencies		$	40,000			$	—			$	(2,666	)		$	—			$	37,334
Mortgage-backed securities-residential			61,635				—				(10,319	)			—				51,316
Total securities held to maturity		$	101,635			$	—			$	(12,985	)		$	—			$	88,650

		2023
						Gross				Gross				Allowance
		Amortized				Unrealized				Unrealized				For Credit				Fair
(In thousands)		Cost				Gains				Losses				Losses				Value
Securities Available for Sale:
U.S. government-sponsored agencies		$	244,794			$	—			$	(47,103	)		$	—			$	197,691
Mortgage-backed securities-residential			363,893				80				(43,177	)			—				320,796
SBA pool securities			27,148				—				(3,744	)			—				23,404
Corporate bond			10,000				—				(1,274	)			—				8,726
Total securities available for sale		$	645,835			$	80			$	(95,298	)		$	—			$	550,617
Securities Held to Maturity:
U.S. government-sponsored agencies		$	40,000			$	—			$	(3,369	)		$	—			$	36,631
Mortgage-backed securities-residential			67,755				—				(9,971	)			—				57,784
Total securities held to maturity		$	107,755			$	—			$	(13,340	)		$	—			$	94,415

Schedule of Securities by Maturity

The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2024, 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 and SBA pool securities are shown separately.

(In thousands)	Available for Sale								Held to Maturity
Maturing in:	Amortized Cost				Fair Value				Amortized Cost				Fair Value
One year or less	$	—			$	—			$	—			$	—
After one year through five years		45,000				39,764				40,000				37,334
After five years through ten years		150,450				123,093				—				—
After ten years		64,863				48,593				—				—
		260,313				211,450				40,000				37,334
Mortgage-backed securities-residential		595,789				548,612				61,635				51,316
SBA pool securities		27,772				24,482				—				—
Total	$	883,874			$	784,544			$	101,635			$	88,650

Summary of Gross Gains, Gross Losses and Net Tax Benefit Related to Proceeds on Sales of Securities Available for Sale

The following is a summary of 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)		2024				2023				2022
Proceeds on sales		$	—			$	—			$	118,972
Gross gains			—				—				3
Gross losses			—				—				(6,612	)
Net tax benefit			—				—				1,581

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 and held to maturity securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2024 and 2023.

		2024
		Duration of Unrealized Loss
		Less Than 12 Months								12 Months or Longer								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
(In thousands)		Value				Losses				Value				Losses				Value				Losses
Securities Available for Sale:
U.S. government-      sponsored agencies		$	—			$	—			$	196,914			$	(47,899	)		$	196,914			$	(47,899	)
Mortgage-backed      securities-residential			171,531				(2,063	)			216,735				(46,200	)			388,266				(48,263	)
SBA pool securities			4,861				(11	)			19,621				(3,279	)			24,482				(3,290	)
Corporate bond			—				—				8,931				(1,069	)			8,931				(1,069	)
Total securities available for sale		$	176,392			$	(2,074	)		$	442,201			$	(98,447	)		$	618,593			$	(100,521	)
Securities Held to Maturity:
U.S. government-      sponsored agencies		$	—			$	—			$	37,334			$	(2,666	)		$	37,334			$	(2,666	)
Mortgage-backed      securities-residential			—				—				51,316				(10,319	)			51,316				(10,319	)
Total securities held to maturity		$	—			$	—			$	88,650			$	(12,985	)		$	88,650			$	(12,985	)
Total securities		$	176,392			$	(2,074	)		$	530,851			$	(111,432	)		$	707,243			$	(113,506	)

		2023
		Duration of Unrealized Loss
		Less Than 12 Months								12 Months or Longer								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
(In thousands)		Value				Losses				Value				Losses				Value				Losses
Securities Available for Sale:
U.S. government-      sponsored agencies		$	—			$	—			$	197,691			$	(47,103	)		$	197,691			$	(47,103	)
Mortgage-backed      securities-residential			36,634				(963	)			217,513				(42,214	)			254,147				(43,177	)
SBA pool securities			655				(1	)			22,749				(3,743	)			23,404				(3,744	)
Corporate Bond			—				—				8,726				(1,274	)			8,726				(1,274	)
Total securities available for sale		$	37,289			$	(964	)		$	446,679			$	(94,334	)		$	483,968			$	(95,298	)
Securities Held to Maturity:
U.S. government-      sponsored agencies		$	—			$	—			$	36,631			$	(3,369	)		$	36,631			$	(3,369	)
Mortgage-backed      securities-residential			9,647				(135	)			48,137				(9,836	)			57,784				(9,971	)
Total securities held to maturity		$	9,647			$	(135	)		$	84,768			$	(13,205	)		$	94,415			$	(13,340	)
Total securities		$	46,936			$	(1,099	)		$	531,447			$	(107,539	)		$	578,383			$	(108,638	)

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