Securities (Tables)

6 Months Ended

Jun. 30, 2021

Securities [Abstract]

Securities Available for Sale

Securities available for sale consist of the following:

	Amortized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In thousands)
June 30, 2021
U.S. agency	$	8,355	$	245	$	4	$	8,596
U.S. agency residential mortgage-backed		364,072		3,185		1,890		365,367
U.S. agency commercial mortgage-backed		18,829		197		16		19,010
Private label mortgage-backed		67,976		1,329		41		69,264
Other asset backed		193,509		1,743		26		195,226
Obligations of states and political subdivisions		509,250		10,499		533		519,216
Corporate		148,205		3,570		172		151,603
Trust preferred		1,973		-		106		1,867
Foreign government		499		12		-		511
Total	$	1,312,668	$	20,780	$	2,788	$	1,330,660
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)
June 30, 2021
U.S. agency	$	-	$	-	$	1,491	$	4	$	1,491	$	4
U.S. agency residential mortgage-backed		144,894		1,830		6,617		60		151,511		1,890
U.S. agency commercial mortgage-backed		2,892		16		-		-		2,892		16
Private label mortgage-backed		5,574		27		1,426		14		7,000		41
Other asset backed		10,466		15		1,697		11		12,163		26
Obligations of states and political subdivisions		60,954		533		-		-		60,954		533
Corporate		20,313		164		547		8		20,860		172
Trust preferred		-		-		1,867		106		1,867		106
Total	$	245,093	$	2,585	$	13,645	$	203	$	258,738	$	2,788
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 June 30, 2021, by contractual maturity, follow:

	Amortized Cost		Fair Value
	(In thousands)
Maturing within one year	$	15,770	$	16,080
Maturing after one year but within five years		112,878		116,373
Maturing after five years but within ten years		165,791		171,342
Maturing after ten years		373,843		377,998
		668,282		681,793
U.S. agency residential mortgage-backed		364,072		365,367
U.S. agency commercial mortgage-backed		18,829		19,010
Private label mortgage-backed		67,976		69,264
Other asset backed		193,509		195,226
Total	$	1,312,668	$	1,330,660

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 six month periods ending June 30, follows:

			Realized
	Proceeds		Gains		Losses
	(In thousands)
2021	$	81,178	$	1,466	$	50
2020		36,593		253		-