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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2024
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 September 30,Nine Months Ended September 30,
(In Thousands)2024202320242023
Unrealized gain (loss) on marketable equity securities
$576 $12 $830 ($445)
   Total$576 $12 $830 ($445)
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
September 30, 2024    
Securities available for sale    
U.S. Treasury and government sponsored entities$500,436 $1,094 ($11,607)$— $489,923 
Corporate bonds9,011 20 (229)— 8,802 
Collateralized loan obligations46,405 87 (7)— 46,485 
Total securities available for sale$555,852 $1,201 ($11,843)$— $545,210 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
December 31, 2023    
Securities available for sale    
U.S. Treasury and government sponsored entities$587,639 $451 ($23,965)$— $564,125 
Municipal securities820 — (4)— 816 
Corporate bonds14,014 28 (418)— 13,624 
Collateralized loan obligations59,795 12 (436)— 59,371 
Total securities available for sale$662,268 $491 ($24,823)$— $637,936 
Summary of Held-To-Maturity Securities
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
September 30, 2024
Securities held to maturity
Corporate bonds$36,750 $— ($2,135)$34,615 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$36,750 $— ($2,135)$34,615 
(In Thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
December 31, 2023
Securities held to maturity
Corporate bonds$36,750 $— ($3,337)$33,413 
   Allowance for credit losses— — — — 
Total securities held to maturity, net of ACL$36,750 $— ($3,337)$33,413 
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 September 30, 2024 and December 31, 2023 were as follows:

Less Than 12 MonthsMore Than 12 MonthsTotal
(In Thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
September 30, 2024
Securities available for sale
     U.S. Treasury and government sponsored entities$9,991 ($9)$434,211 ($11,598)$444,202 ($11,607)
     Corporate bonds— — 4,783 (229)4,783 (229)
     Collateralized loan obligations— — 4,988 (7)4,988 (7)
          Total$9,991 ($9)$443,982 ($11,834)$453,973 ($11,843)
December 31, 2023:
Securities available for sale
     U.S. Treasury and government sponsored entities$9,997 ($3)$528,574 ($23,962)$538,571 ($23,965)
     Corporate bonds— — 6,599 (418)6,599 (418)
     Collateralized loan obligations3,909 (91)43,149 (345)47,058 (436)
     Municipal securities— — 816 (4)816 (4)
          Total$13,906 ($94)$579,138 ($24,729)$593,044 ($24,823)
Schedule of Amortized Cost and Fair Value by Contractual Maturity
The amortized cost and estimated fair values of debt securities at September 30, 2024, 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$176,092 $174,118 
1-5 years324,344 315,805 
Total$500,436 $489,923 
Corporate bonds  
Within 1 year$3,999 $4,019 
1-5 years15,012 14,722 
5-10 years26,750 24,676 
Total$45,761 $43,417 
Collateralized loan obligations
5-10 years$27,405 $27,432 
Over 10 years19,000 19,053 
Total$46,405 $46,485 
Summary of Interest Income On Available-for-Sale Investment Securities
A summary of interest income for the three and nine-month periods ending September 30, 2024 and 2023, on available for sale investment securities are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In Thousands)2024202320242023
US Treasury and government sponsored entities$2,443 $2,794 $7,511 $8,424 
Other965 1,214 3,168 3,505 
Total taxable interest income$3,408 $4,008 $10,679 $11,929 
Municipal securities$— $4 $3 $13 
Total tax-exempt interest income$— $4 $3 $13 
Total$3,408 $4,012 $10,682 $11,942