Securities (Tables)

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of available-for-sale securities

The following table summarizes available-for-sale debt securities held by the Company at September 30, 2021:

	Available-for-Sale Debt Securities
September 30, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(In thousands)
U.S. Treasuries	$	140,373	$	2	$	1,447	$	138,928
Obligations of U.S. Government sponsored entities	813,833		6,001		9,491		810,343
Obligations of U.S. states and political subdivisions	107,912		2,144		145		109,911
Mortgage-backed securities – residential, issued by
U.S. Government agencies	88,135		1,607		422		89,320
U.S. Government sponsored entities	919,745		8,267		12,008		916,004
U.S. corporate debt securities	2,500		0		79		2,421
Total available-for-sale debt securities	$	2,072,498	$	18,021	$	23,592	$	2,066,927

The following table summarizes available-for-sale debt securities held by the Company at December 31, 2020:

	Available-for-Sale Debt Securities
December 31, 2020	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(In thousands)
Obligations of U.S. Government sponsored entities	$	599,652	$	9,820	$	1,992	$	607,480
Obligations of U.S. states and political subdivisions	126,642		3,144		40		129,746
Mortgage-backed securities – residential, issued by
U.S. Government agencies	179,538		3,216		646		182,108
U.S. Government sponsored entities	691,562		14,593		675		705,480
U.S. corporate debt securities	2,500		0		121		2,379
Total available-for-sale debt securities	$	1,599,894	$	30,773	$	3,474	$	1,627,193

Schedule of held-to-maturity securities

The following table summarizes held-to-maturity debt securities held by the Company at September 30, 2021:

	Held-to-Maturity Securities
September 30, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
(In thousands)
U.S. Treasuries	$	86,740	$	321	$	630	$	86,431
Obligations of U.S. Government sponsored entities	182,528		793		1,469		181,852
Total held-to-maturity debt securities	$	269,268	$	1,114	$	2,099	$	268,283

Schedule of available-for-sale securities with unrealized losses

The following table summarizes available-for-sale debt securities that had unrealized losses at September 30, 2021, and December 31, 2020.

	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasuries	$	137,935	$	1,447	$	0	$	0	$	137,935	$	1,447
Obligations of U.S. Government sponsored entities	326,852		3,879		276,710		5,612		603,562		9,491
Obligations of U.S. states and political subdivisions	14,192		126		1,281		19		15,473		145
Mortgage-backed securities – residential, issued by
U.S. Government agencies	34,808		405		1,285		17		36,093		422
U.S. Government sponsored entities	609,541		10,743		33,837		1,265		643,378		12,008
U.S. corporate debt securities	0		0		2,421		79		2,421		79
Total available-for-sale debt securities	$	1,123,328	$	16,600	$	315,534	$	6,992	$	1,438,862	$	23,592

	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government sponsored entities	$	310,711	$	1,992	$	0	$	0	$	310,711	$	1,992
Obligations of U.S. states and political subdivisions	8,868		40		0		0		8,868		40
Mortgage-backed securities – residential, issued by
U.S. Government agencies	10,560		396		1,819		250		12,379		646
U.S. Government sponsored entities	87,643		586		5,068		89		92,711		675
U.S. corporate debt securities	0		0		2,379		121		2,379		121
Total available-for-sale debt securities	$	417,782	$	3,014	$	9,266	$	460	$	427,048	$	3,474

Schedule held-to-maturity securities with unrealized losses

The following table summarizes held-to-maturity debt securities that had unrealized losses at September 30, 2021.

	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasuries	$	35,277	$	630	$	0	$	0	$	35,277	$	630
Obligations of U.S. Government sponsored entities	79,986		1,469		$	0	$	0	$	79,986	1,469
Total held-to-maturity debt securities	$	115,263	$	2,099	$	0	$	0	$	115,263	$	2,099

Schedule of amortized cost and estimated fair value of debt securities by contractual maturity

September 30, 2021
(In thousands)	Amortized Cost		Fair Value
Available-for-sale debt securities:
Due in one year or less	$	57,011	$	57,604
Due after one year through five years	463,136		465,980
Due after five years through ten years	487,701		481,464
Due after ten years	56,770		56,555
Total	1,064,618		1,061,603
Mortgage-backed securities	1,007,880		1,005,324
Total available-for-sale debt securities	$	2,072,498	$	2,066,927

December 31, 2020
(In thousands)	Amortized Cost		Fair Value
Available-for-sale debt securities:
Due in one year or less	$	54,484	$	55,008
Due after one year through five years	379,044		388,132
Due after five years through ten years	228,572		229,107
Due after ten years	66,694		67,358
Total	728,794		739,605
Mortgage-backed securities	871,100		887,588
Total available-for-sale debt securities	$	1,599,894	$	1,627,193

September 30, 2021
(In thousands)	Amortized Cost		Fair Value
Held-to-maturity debt securities:
Due after five years through ten years	$	269,268	$	268,283
Total held-to-maturity debt securities	$	269,268	$	268,283