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INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 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
September 30, 2021    
Obligations of U.S. government-sponsored enterprises$8,585 $$(134)$8,452 
Obligations of states and political subdivisions112,688 5,267 (202)117,753 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises915,317 11,286 (6,611)919,992 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
391,128 4,595 (2,896)392,827 
Subordinated corporate bonds
16,082 205 (101)16,186 
Total AFS debt securities$1,443,800 $21,354 $(9,944)$1,455,210 
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)September 30,
2021
December 31,
2020
FHLBB$4,906 $6,167 
FRB5,374 5,374 
Total other investments$10,280 $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
September 30, 2021      
Obligations of U.S. government-sponsored enterprises$7,451 $(134)$— $— $7,451 $(134)
Obligations of states and political subdivisions2,554 (6)2,322 (196)4,876 (202)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises
83 528,776 (6,286)14,565 (325)$543,341 (6,611)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
44 180,559 (2,664)13,241 (232)193,800 (2,896)
Subordinated corporate bonds
8,471 (101)— — 8,471 (101)
Total AFS debt securities138 $727,811 $(9,191)$30,128 $(753)$757,939 $(9,944)
December 31, 2020      
Obligations of states and political subdivisions
$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 enterprises39,107 (135)— — 39,107 (135)
Subordinated corporate bonds4,902 (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 September 30, 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. Mortgage-related securities are shown in total, as their maturities are highly variable.
(In thousands)Amortized
Cost
Fair
Value
Due in one year or less$3,726 $3,773 
Due after one year through five years5,665 6,063 
Due after five years through ten years78,395 81,078 
Due after ten years49,569 51,477 
Subtotal137,355 142,391 
Mortgage-related securities1,306,445 1,312,819 
Total$1,443,800 $1,455,210 
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
September 30, 2021        
Obligations of states and political subdivisions$1,293 $97 $— $1,390 
Total HTM debt securities$1,293 $97 $— $1,390 
December 31, 2020        
Obligations of states and political subdivisions$1,297 $114 $— $1,411 
Total HTM debt securities$1,297 $114 $— $1,411 
Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity The amortized cost and estimated fair values of HTM debt securities by contractual maturity at September 30, 2021 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost
Fair
Value
Due in one year or less$— $— 
Due after one year through five years868 927 
Due after five years through ten years425 463 
Due after ten years— — 
Total$1,293 $1,390