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SECURITIES AVAILABLE FOR SALE, HELD TO MATURITY, AND MARKETABLE EQUITY SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Securities Available for Sale, Held to Maturity, and Marketable Equity Securities
The following is a summary of securities available for sale, held to maturity, and marketable equity securities:
(In thousands)Amortized  CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueAllowance
September 30, 2020    
Securities available for sale    
Municipal bonds and obligations
$97,463 $7,057 $(13)$104,507 $— 
Agency collateralized mortgage obligations
722,124 19,469 (124)741,469 — 
Agency mortgage-backed securities
322,252 4,202 (437)326,017 — 
Agency commercial mortgage-backed securities
263,406 10,304 (102)273,608 — 
Corporate bonds
74,357 842 (222)74,977 — 
Other bonds and obligations
52,958 1,762 (9)54,711 — 
Total securities available for sale1,532,560 43,636 (907)1,575,289 — 
Securities held to maturity    
Municipal bonds and obligations
242,666 18,401 — 261,067 67 
Agency collateralized mortgage obligations
68,124 6,535 — 74,659 — 
Agency mortgage-backed securities
5,280 208 — 5,488 — 
Agency commercial mortgage-backed securities
10,305 671 — 10,976 — 
Tax advantaged economic development bonds
3,527 32 (9)3,550 29 
Other bonds and obligations
295 — — 295 — 
Total securities held to maturity330,197 25,847 (9)356,035 96 
Marketable equity securities34,179 1,480 (3,666)31,993 — 
Total$1,896,936 $70,963 $(4,582)$1,963,317 $96 
(In thousands)Amortized  CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueAllowance
December 31, 2019    
Securities available for sale    
Municipal bonds and obligations
$104,325 $5,813 $— $110,138 $— 
Agency collateralized mortgage obligations
742,550 6,431 (169)748,812 — 
Agency mortgage-backed securities
146,589 1,515 (360)147,744 — 
Agency commercial mortgage-backed securities
148,066 176 (1,146)147,096 — 
Corporate bonds
115,395 1,788 (607)116,576 — 
Other bonds and obligations
40,414 780 (5)41,189 — 
Total securities available for sale1,297,339 16,503 (2,287)1,311,555 — 
Securities held to maturity    
Municipal bonds and obligations
252,936 13,095 (5)266,026 — 
Agency collateralized mortgage obligations
69,667 2,870 (50)72,487 — 
Agency mortgage-backed securities
6,271 29 — 6,300 — 
Agency commercial mortgage-backed securities
10,353 51 — 10,404 — 
Tax advantaged economic development bonds
18,456 218 (910)17,764 — 
Other bonds and obligations
296 — — 296 — 
Total securities held to maturity357,979 16,263 (965)373,277 — 
Marketable equity securities37,138 5,147 (729)41,556 — 
Total$1,692,456 $37,913 $(3,981)$1,726,388 $— 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table summarizes the activity in the allowance for credit losses for debt securities held to maturity by security type for the three and nine months ended September 30, 2020:
(In thousands)Municipal bonds and obligationsTax advantaged economic development bondsTotal
Balance at June 30, 2020(62)(51)(113)
Provision for credit losses- reversal(5)22 17 
Balance at September 30, 2020(67)(29)(96)
(In thousands)Municipal bonds and obligationsTax advantaged economic development bondsTotal
Balance at December 31, 2019— — — 
Impact of ASC 326 adoption(83)(226)(309)
Provision for credit losses- reversal16 197 213 
Balance at September 30, 2020(67)(29)(96)
Schedule of Estimated Fair Value of Available for Sale (“AFS”) and Held to Maturity (“HTM”) Securities Segregated by Contractual Maturity
The amortized cost and estimated fair value of available for sale (“AFS”) and held to maturity (“HTM”) securities segregated by contractual maturity at September 30, 2020 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable.
 Available for saleHeld to maturity
 AmortizedFairAmortizedFair
(In thousands)CostValueCostValue
Within 1 year$38,196 $38,234 $2,526 $2,528 
Over 1 year to 5 years12,714 12,610 4,006 4,022 
Over 5 years to 10 years75,351 76,403 23,066 23,897 
Over 10 years98,517 106,948 216,890 234,465 
Total bonds and obligations224,778 234,195 246,488 264,912 
Mortgage-backed securities1,307,782 1,341,094 83,709 91,123 
Total$1,532,560 $1,575,289 $330,197 $356,035 
Schedule of Securities Available for Sale and Held to Maturity with Unrealized Losses, Segregated by Duration
Securities available for sale and held to maturity with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows:
 Less Than Twelve MonthsOver Twelve MonthsTotal
 Gross Gross Gross 
 UnrealizedFairUnrealizedFairUnrealizedFair
(In thousands)LossesValueLossesValueLossesValue
September 30, 2020      
Securities available for sale      
Municipal bonds and obligations
$13 $3,451 $— $— $13 $3,451 
Agency collateralized mortgage obligations
124 44,785 — — 124 44,785 
Agency mortgage-backed securities
434 133,536 3 257 437 133,793 
Agency commercial mortgage-backed securities102 22,336 — — 102 22,336 
Corporate bonds
222 10,663 — — 222 10,663 
Other bonds and obligations
— — 9 1,064 9 1,064 
Total securities available for sale895 214,771 12 1,321 907 216,092 
Securities held to maturity      
Tax advantaged economic development bonds
9 1,430 — — 9 1,430 
Total securities held to maturity9 1,430 — — 9 1,430 
Total$904 $216,201 $12 $1,321 $916 $217,522 
December 31, 2019      
Securities available for sale      
Agency collateralized mortgage obligations
127 52,623 42 6,267 169 58,890 
Agency mortgage-backed securities
59 10,640 301 23,404 360 34,044 
Agency commercial mortgage-backed securities1,097 116,324 49 11,250 1,146 127,574 
Corporate bonds
— — 607 42,823 607 42,823 
Other bonds and obligations
4 1,239 1 29 5 1,268 
Total securities available for sale1,287 180,826 1,000 83,773 2,287 264,599 
Securities held to maturity      
Municipal bonds and obligations
5 800 — — 5 800 
Agency collateralized mortgage obligations
50 9,778 — — 50 9,778 
Tax advantaged economic development bonds
— — 910 6,925 910 6,925 
Total securities held to maturity55 10,578 910 6,925 965 17,503 
Total$1,342 $191,404 $1,910 $90,698 $3,252 $282,102