XML 36 R25.htm IDEA: XBRL DOCUMENT v3.21.1
INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities The following table summarizes the amortized cost, estimated fair value, and unrealized gains (losses) of AFS debt securities, as of the dates indicated:
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
March 31, 2021    
Obligations of U.S. government sponsored enterprises$5,200 $— $(217)$4,983 
Obligations of states and political subdivisions114,280 5,982 (463)119,799 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises564,151 10,581 (5,413)569,319 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
406,358 6,452 (2,166)410,644 
Subordinated corporate bonds
10,525 293 (15)10,803 
Total AFS debt securities$1,100,514 $23,308 $(8,274)$1,115,548 
December 31, 2020    
Obligations of states and political subdivisions
$119,608 $7,627 $(115)$127,120 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
547,396 19,796 (574)566,618 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
399,937 10,652 (135)410,454 
Subordinated corporate bonds
11,533 186 (98)11,621 
Total AFS debt securities$1,078,474 $38,261 $(922)$1,115,813 
The following table summarizes the Company's investment in FHLBB stock and FRBB stock as presented within other investments on the consolidated statements of condition, as of the dates indicated:
(In thousands)Cost
March 31, 2021 
FHLBB$4,838 
FRB5,374 
Total other investments$10,212 
December 31, 2020 
FHLBB$6,167 
FRB5,374 
Total other investments$11,541 
Unrealized Gross Losses and Estimated Fair Values of Investment Securities by Length of Time that Individual Securities in Each Category in Continuous Loss Position
The following table presents the Company's AFS debt securities with gross unrealized losses, for which an ACL has not been recorded, segregated by the length of time the securities have been in a continuous loss position, as of the dates indicated:  
 Less Than 12 Months12 Months or MoreTotal
(In thousands, except number of holdings)
Number of
Holdings		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
March 31, 2021      
Obligations of U.S. government sponsored enterprises2 $4,983 $(217)$— $— $4,983 $(217)
Obligations of states and political subdivisions3 2,445 (116)2,171 (347)4,616 $(463)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
51 234,124 (5,410)347 (3)234,471 (5,413)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
30 142,364 (2,166)— — 142,364 (2,166)
Subordinated corporate bonds
1 985 (15)— — 985 (15)
Total AFS debt securities87 $384,901 $(7,924)$2,518 $(350)$387,419 $(8,274)
December 31, 2020      
Obligations of states and political subdivisions
1 $2,404 $(115)$— $— $2,404 $(115)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
15 61,222 (568)980 (6)62,202 (574)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises9 39,107 (135)— — 39,107 (135)
Subordinated corporate bonds5 4,902 (98)— — 4,902 (98)
Total AFS debt securities30 $107,635 $(916)$980 $(6)$108,615 $(922)
Contractual Obligation, Fiscal Year Maturity
The amortized cost and estimated fair values of the Company's AFS debt securities by contractual maturity at March 31, 2021, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost		Fair
Value
Due in one year or less$3,025 $3,102 
Due after one year through five years61,558 63,040 
Due after five years through ten years248,264 255,924 
Due after ten years787,667 793,482 
Total$1,100,514 $1,115,548 
Debt Securities, Held-to-maturity The following table summarizes the amortized cost, estimated fair value and unrealized gains (losses) of HTM debt securities as of the dates indicated:
(In thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
March 31, 2021        
Obligations of states and political subdivisions$1,295 $101 $— $1,396 
Total HTM debt securities$1,295 $101 $— $1,396 
December 31, 2020        
Obligations of states and political subdivisions$1,297 $114 $— $1,411 
Total HTM debt securities$1,297 $114 $— $1,411 
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity The amortized cost and estimated fair values of HTM debt securities by contractual maturity at March 31, 2021 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost		Fair
Value
Due in one year or less$— $— 
Due after one year through five years869 937 
Due after five years through ten years426 459 
Due after ten years— — 
Total$1,295 $1,396