Securities (Tables)

3 Months Ended

Mar. 31, 2021

Securities [Abstract]

Securities Available for Sale

Securities available for sale consist of the following:

	Amortized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In thousands)
March 31, 2021
U.S. agency	$	8,721	$	201	$	12	$	8,910
U.S. agency residential mortgage-backed		399,290		3,315		2,185		400,420
U.S. agency commercial mortgage-backed		11,516		194		6		11,704
Private label mortgage-backed		41,624		1,261		68		42,817
Other asset backed		226,812		1,810		92		228,530
Obligations of states and political subdivisions		438,721		7,274		1,307		444,688
Corporate		105,293		2,866		336		107,823
Trust preferred		1,973		-		99		1,874
Foreign government		500		14		-		514
Total	$	1,234,450	$	16,935	$	4,105	$	1,247,280
December 31, 2020
U.S. agency	$	10,456	$	305	$	13	$	10,748
U.S. agency residential mortgage-backed		340,224		4,951		593		344,582
U.S. agency commercial mortgage-backed		6,869		326		-		7,195
Private label mortgage-backed		41,429		1,539		139		42,829
Other asset backed		252,596		1,796		211		254,181
Obligations of states and political subdivisions		315,780		8,691		178		324,293
Corporate		82,307		3,807		97		86,017
Trust preferred		1,971		-		173		1,798
Foreign government		500		16		-		516
Total	$	1,052,132	$	21,431	$	1,404	$	1,072,159

Investments in a Continuous Unrealized Loss Position

Our investments’ gross unrealized losses and fair values aggregated by investment type and length of time that individual securities have been at a continuous unrealized loss position follows:

	Less Than Twelve Months				Twelve Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
March 31, 2021
U.S. agency	$	1,394	$	3	$	2,219	$	9	$	3,613	$	12
U.S. agency residential mortgage-backed		185,615		2,184		36		1		185,651		2,185
U.S. agency commercial mortgage-backed		646		6		-		-		646		6
Private label mortgage-backed		2,053		25		3,662		43		5,715		68
Other asset backed		8,407		17		10,465		75		18,872		92
Obligations of states and political subdivisions		87,301		1,307		-		-		87,301		1,307
Corporate		20,403		323		560		13		20,963		336
Trust preferred		-		-		1,874		99		1,874		99
Total	$	305,819	$	3,865	$	18,816	$	240	$	324,635	$	4,105
December 31, 2020
U.S. agency	$	1,469	$	3	$	2,329	$	10	$	3,798	$	13
U.S. agency residential mortgage-backed		96,839		592		83		1		96,922		593
Private label mortgage-backed		11,838		95		2,050		44		13,888		139
Other asset backed		7,142		25		21,197		186		28,339		211
Obligations of states and political subdivisions		28,957		177		800		1		29,757		178
Corporate		1,924		97		-		-		1,924		97
Trust preferred		-		-		1,798		173		1,798		173
Total	$	148,169	$	989	$	28,257	$	415	$	176,426	$	1,404

Amortized Cost and Fair Value of Securities Available for Sale by Contractual Maturity

The amortized cost and fair value of securities available for sale at March 31, 2021, by contractual maturity, follow:

	Amortized Cost		Fair Value
	(In thousands)
Maturing within one year	$	22,748	$	22,888
Maturing after one year but within five years		99,528		102,202
Maturing after five years but within ten years		83,969		85,830
Maturing after ten years		348,963		352,889
		555,208		563,809
U.S. agency residential mortgage-backed		399,290		400,420
U.S. agency commercial mortgage-backed		11,516		11,704
Private label mortgage-backed		41,624		42,817
Other asset backed		226,812		228,530
Total	$	1,234,450	$	1,247,280

Gains and Losses Realized on Sale of Securities Available for Sale

Gains and losses realized on the sale of securities available for sale are determined using the specific identification method and are recognized on a trade-date basis.  A summary of proceeds from the sale of securities available for sale and gains and losses for the three month periods ending March 31, follows:

			Realized
	Proceeds		Gains		Losses
	(In thousands)
2021	$	78,179	$	1,464	$	48
2020		21,743		253		-