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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Gross Realized and Unrealized Gains (Losses) on Marketable Equity Securities The gross realized and unrealized gains (losses) recognized on marketable equity securities in other operating income in the Company's Consolidated Statements of Income were as follows:
Three Months Ended March 31,
(In Thousands)20212020
Unrealized (loss) gain on marketable equity securities($84)($871)
Gain on sale of marketable equity securities, net— 98 
   Total($84)($773)
Summary of Available-For-Sale Securities The following table summarizes the amortized cost, estimated fair value, and allowance for credit losses of debt securities and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities at the periods indicated:
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
March 31, 2021    
Securities available for sale    
U.S. Treasury and government sponsored entities$224,824 $1,066 ($1,397)$— $224,493 
Municipal securities820 36 — — 856 
Corporate bonds29,946 510 — — 30,456 
Collateralized loan obligations47,990 56 (41)— 48,005 
Total securities available for sale$303,580 $1,668 ($1,438)$— $303,810 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2020    
Securities available for sale    
U.S. Treasury and government sponsored entities$173,318 $1,330 ($47)$174,601 
Municipal securities820 36 — 856 
Corporate bonds29,951 546 (5)30,492 
Collateralized loan obligations41,782 44 (142)41,684 
Total securities available for sale$245,871 $1,956 ($194)$247,633 
Securities held to maturity    
Corporate bonds$10,000 $— $— $10,000 
Total securities held to maturity$10,000 $— $— $10,000 
Summary of Held-To-Maturity Securities
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
March 31, 2021
Securities held to maturity
Corporate bonds$20,000 $— ($94)$19,906 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$20,000 $— ($94)$19,906 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2020    
Securities available for sale    
U.S. Treasury and government sponsored entities$173,318 $1,330 ($47)$174,601 
Municipal securities820 36 — 856 
Corporate bonds29,951 546 (5)30,492 
Collateralized loan obligations41,782 44 (142)41,684 
Total securities available for sale$245,871 $1,956 ($194)$247,633 
Securities held to maturity    
Corporate bonds$10,000 $— $— $10,000 
Total securities held to maturity$10,000 $— $— $10,000 
Gross Unrealized Losses on Available For Sale Securities and the Fair Value
Gross unrealized losses on available for sale securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020 were as follows:
Less Than 12 MonthsMore Than 12 MonthsTotal
(In Thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
March 31, 2021:
     U.S. Treasury and government sponsored entities$147,465 ($1,397)$— $— $147,465 ($1,397)
     Collateralized loan obligations12,967 (38)1,042 (3)14,009 (41)
          Total$160,432 ($1,435)$1,042 ($3)$161,474 ($1,438)
December 31, 2020:
     U.S. Treasury and government sponsored entities$31,270 ($47)$— $— $31,270 ($47)
     Corporate bonds3,198 (5)— — 3,198 (5)
     Collateralized loan obligations23,670 (118)2,967 (24)26,637 (142)
          Total$58,138 ($170)$2,967 ($24)$61,105 ($194)
Schedule of Amortized Cost and Fair Value by Contractual Maturity
The amortized cost and estimated fair values of debt securities at March 31, 2021, are distributed by contractual maturity as shown below.  Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. 
(In Thousands)Amortized CostFair ValueWeighted Average Yield
US Treasury and government sponsored entities   
Within 1 year$32,013 $32,448 2.21 %
1-5 years171,862 171,340 0.70 %
5-10 years20,949 20,705 0.76 %
Total$224,824 $224,493 0.92 %
Corporate bonds   
Within 1 year$2,241 $2,253 1.17 %
1-5 years$37,705 $38,109 2.45 %
5-10 years10,000 10,000 5.00 %
Total$49,946 $50,362 2.90 %
Collateralized loan obligations
5-10 years$47,990 $48,005 1.55 %
Total$47,990 $48,005 1.55 %
Municipal securities   
1-5 years$820 $856 2.14 %
Total$820 $856 2.14 %
Schedule of Available-For-Sale Securities Proceeds, Gains, and Losses
The proceeds and resulting gains and losses, computed using specific identification, from sales of investment securities for the three-month periods ending March 31, 2021 and 2020, are as follows: 
(In Thousands)ProceedsGross GainsGross Losses
Three Months Ended March 31, 2021
Available for sale securities$— $— $— 
Three Months Ended March 31, 2020
Available for sale securities$— $— $— 
Summary of Interest Income On Available-for-Sale Investment Securities
A summary of interest income for the three-month periods ending March 31, 2021 and 2020, on available for sale investment securities are as follows:
Three Months Ended March 31,
(In Thousands)20212020
US Treasury and government sponsored entities$500 $1,161 
Other274 434 
Total taxable interest income$774 $1,595 
Municipal securities$4 $27 
Total tax-exempt interest income$4 $27 
Total$778 $1,622