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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
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)20222021
Unrealized loss on marketable equity securities($422)($84)
Gain on sale of marketable equity securities, net— — 
   Total($422)($84)
Summary of Available-For-Sale Securities The following table summarizes the amortized cost, estimated fair value, and the Allowance for Credit Losses ("ACL") 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, 2022    
Securities available for sale    
U.S. Treasury and government sponsored entities$415,485 $103 ($19,633)$— $395,955 
Municipal securities820 — (5)— 815 
Corporate bonds32,716 167 (377)— 32,506 
Collateralized loan obligations59,432 — (361)— 59,071 
Total securities available for sale$508,453 $270 ($20,376)$— $488,347 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
December 31, 2021    
Securities available for sale    
U.S. Treasury and government sponsored entities$345,514 $333 ($4,367)$— $341,480 
Municipal securities820 20 — — 840 
Corporate bonds32,721 302 (77)— 32,946 
Collateralized loan obligations51,431 9 (22)— 51,418 
Total securities available for sale$430,486 $664 ($4,466)$— $426,684 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2021
Securities held to maturity
Corporate bonds$20,000 $— ($836)$19,164 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$20,000 $— ($836)$19,164 
Summary of Held-To-Maturity Securities
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
March 31, 2022
Securities held to maturity
Corporate bonds$24,750 $— ($1,873)$22,877 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$24,750 $— ($1,873)$22,877 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
December 31, 2021    
Securities available for sale    
U.S. Treasury and government sponsored entities$345,514 $333 ($4,367)$— $341,480 
Municipal securities820 20 — — 840 
Corporate bonds32,721 302 (77)— 32,946 
Collateralized loan obligations51,431 9 (22)— 51,418 
Total securities available for sale$430,486 $664 ($4,466)$— $426,684 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2021
Securities held to maturity
Corporate bonds$20,000 $— ($836)$19,164 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$20,000 $— ($836)$19,164 
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, 2022 and December 31, 2021 were as follows:

Less Than 12 MonthsMore Than 12 MonthsTotal
(In Thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
March 31, 2022:
Securities available for sale
     U.S. Treasury and government sponsored entities$301,435 ($14,981)$72,868 ($4,652)$374,303 ($19,633)
     Corporate bonds7,838 (377)— — 7,838 (377)
     Collateralized loan obligations54,079 (361)— — 54,079 (361)
     Municipal securities815 (5)— — 815 (5)
          Total$364,167 ($15,724)$72,868 ($4,652)$437,035 ($20,376)
December 31, 2021:
Securities available for sale
     U.S. Treasury and government sponsored entities$292,845 ($4,012)$21,743 ($355)$314,588 ($4,367)
     Corporate bonds4,953 (77)— — 4,953 (77)
     Collateralized loan obligations29,470 (22)— — 29,470 (22)
          Total$327,268 ($4,111)$21,743 ($355)$349,011 ($4,466)
Schedule of Amortized Cost and Fair Value by Contractual Maturity
The amortized cost and estimated fair values of debt securities at March 31, 2022, 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 Value
US Treasury and government sponsored entities  
Within 1 year$5,000 $5,007 
1-5 years410,485 390,948 
Total$415,485 $395,955 
Corporate bonds  
1-5 years$37,687 $37,250 
5-10 years19,779 18,133 
Total$57,466 $55,383 
Collateralized loan obligations
1-5 years$5,000 $4,938 
5-10 years23,939 23,796 
Over 10 years30,493 30,337 
Total$59,432 $59,071 
Municipal securities  
1-5 years$820 $815 
Total$820 $815 
Summary of Interest Income On Available-for-Sale Investment Securities
A summary of interest income for the three-month periods ending March 31, 2022 and 2021, on available for sale investment securities are as follows:
Three Months Ended March 31,
(In Thousands)20222021
US Treasury and government sponsored entities$806 $500 
Other325 274 
Total taxable interest income$1,131 $774 
Municipal securities$4 $4 
Total tax-exempt interest income$4 $4 
Total$1,135 $778