Securities (Tables)

9 Months Ended

Sep. 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)
September 30, 2021
U.S. agency	$	13,278	$	187	$	47	$	13,418
U.S. agency residential mortgage-backed		337,140		2,810		2,090		337,860
U.S. agency commercial mortgage-backed		18,473		161		26		18,608
Private label mortgage-backed		81,154		1,271		114		82,311
Other asset backed		174,488		1,653		20		176,121
Obligations of states and political subdivisions		555,155		9,983		916		564,222
Corporate		149,893		3,736		126		153,503
Trust preferred		1,974		-		148		1,826
Foreign government		499		10		-		509
Total	$	1,332,054	$	19,811	$	3,487	$	1,348,378
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)
September 30, 2021
U.S. agency	$	5,071	$	44	$	1,382	$	3	$	6,453	$	47
U.S. agency residential mortgage-backed		135,320		1,923		19,297		167		154,617		2,090
U.S. agency commercial mortgage-backed		5,367		26		-		-		5,367		26
Private label mortgage-backed		18,628		88		2,110		26		20,738		114
Other asset backed		8,161		9		989		11		9,150		20
Obligations of states and political subdivisions		88,064		871		567		45		88,631		916
Corporate		27,380		125		90		1		27,470		126
Trust preferred		-		-		1,826		148		1,826		148
Total	$	287,991	$	3,086	$	26,261	$	401	$	314,252	$	3,487
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 September 30, 2021, by contractual maturity, follow:

	Amortized Cost		Fair Value
	(In thousands)
Maturing within one year	$	15,701	$	15,849
Maturing after one year but within five years		125,299		128,338
Maturing after five years but within ten years		230,998		234,100
Maturing after ten years		348,801		355,191
		720,799		733,478
U.S. agency residential mortgage-backed		337,140		337,860
U.S. agency commercial mortgage-backed		18,473		18,608
Private label mortgage-backed		81,154		82,311
Other asset backed		174,488		176,121
Total	$	1,332,054	$	1,348,378

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 nine month periods ending September 30, follows:

			Realized
	Proceeds		Gains		Losses
	(In thousands)
2021	$	81,683	$	1,471	$	50
2020		36,593		253		-