Debt Securities Held to Maturity (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost, gross unrealized gains, gross unrealized losses and the fair value of securities held-to-maturity

Debt securities held to maturity at March 31, 2023 and December 31, 2022 are summarized as follows:

	March 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)		Allowance for Credit Losses		Fair Value
	(In thousands)
U.S. government and agency obligations	$	49,871	$	—	$	(6,599)	$	—	$	43,272
Mortgage-backed securities and collateralized mortgage obligations	367,356		—		(38,441)		—		328,915
	$	417,227	$	—	$	(45,040)	$	—	$	372,187

	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)		Allowance for Credit Losses		Fair Value
	(In thousands)
U.S. government and agency obligations	$	49,871	$	—	$	(7,304)	$	—	$	42,567
Mortgage-backed securities and collateralized mortgage obligations	371,652		—		(43,828)		—		327,824
	$	421,523	$	—	$	(51,132)	$	—	$	370,391

Schedule of securities by contractual maturity

The amortized cost and fair value of debt securities available for sale at March 31, 2023, by contractual final maturity, is shown below. Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.

	March 31, 2023
	Amortized Cost		Fair Value
	(In thousands)
One year or less	$	920	$	906
More than one year to five years	54,882		50,274
More than five years to ten years	63,864		50,517
	$	119,666	$	101,697
Mortgage-backed securities and collateralized mortgage obligations	1,324,035		1,170,873
	$	1,443,701	$	1,272,570

The amortized cost and fair value of debt securities held to maturity at March 31, 2023, by contractual final maturity, is shown below. Expected maturities may differ from contractual maturities due to prepayment or early call options exercised by the issuer.

	March 31, 2023
	Amortized Cost		Fair Value
	(In thousands)
More than one year to five years	$	19,875	$	18,600
More than five years to ten years	19,996		17,018
More than ten years	10,000		7,654
	49,871		43,272
Mortgage-backed securities and collateralized mortgage obligations	367,356		328,915
	$	417,227	$	372,187

Schedule of held-to-maturity securities reported in a continuous unrealized loss position

The following tables summarize the fair value and gross unrealized losses of those securities that reported an unrealized loss at March 31, 2023 and December 31, 2022 and if the unrealized loss position was continuous for the twelve months prior to those respective dates:

	March 31, 2023
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized (Losses)		Fair Value		Gross Unrealized (Losses)		Fair Value		Gross Unrealized (Losses)
	(In thousands)
U.S. government and agency obligations	$	4,935	$	(65)	$	38,337	$	(6,534)	$	43,272	$	(6,599)
Mortgage-backed securities and collateralized mortgage obligations	39,392		(2,340)		289,523		(36,101)		328,915		(38,441)
	$	44,327	$	(2,405)	$	327,860	$	(42,635)	$	372,187	$	(45,040)

	December 31, 2022
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Gross Unrealized (Losses)		Fair Value		Gross Unrealized (Losses)		Fair Value		Gross Unrealized (Losses)
	(In thousands)
U.S. government and agency obligations	$	4,956	$	(44)	$	37,611	$	(7,260)	$	42,567	$	(7,304)
Mortgage-backed securities and collateralized mortgage obligations	275,107		(33,000)		52,717		(10,828)		327,824		(43,828)
	$	280,063	$	(33,044)	$	90,328	$	(18,088)	$	370,391	$	(51,132)