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INVESTMENTS
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
Trading Securities

Trading securities are reported on the Company's consolidated statements of condition at fair value. As of March 31, 2022 and December 31, 2021, the fair value of the Company's trading securities were $4.1 million and $4.4 million, respectively. These securities are held in a rabbi trust account and invested in mutual funds. The trading securities will be used for future payments associated with the Company's deferred compensation plan for eligible employees and directors.

AFS Debt Securities

AFS debt securities are reported on the Company's consolidated statements of condition at fair value. 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, 2022    
Obligations of U.S. government-sponsored enterprises$8,585 $— $(915)$7,670 
Obligations of states and political subdivisions113,388 587 (2,019)111,956 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises1,029,454 435 (69,051)960,838 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises
341,998 145 (22,252)319,891 
Subordinated corporate bonds
22,632 55 (1,233)21,454 
Total AFS debt securities$1,516,057 $1,222 $(95,470)$1,421,809 
December 31, 2021    
Obligations of U.S. government-sponsored enterprises$8,585 $— $(241)$8,344 
Obligations of states and political subdivisions112,086 5,392 — 117,478 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises1,003,869 7,856 (11,468)1,000,257 
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises361,781 2,835 (5,767)358,849 
Subordinated corporate bonds22,660 152 (254)22,558 
Total AFS debt securities$1,508,981 $16,235 $(17,730)$1,507,486 
As of March 31, 2022 and December 31, 2021, there was no allowance carried on AFS debt securities.

The net unrealized losses on AFS debt securities reported within AOCI at March 31, 2022, were $74.0 million, net of a deferred tax asset of $20.3 million. The net unrealized losses on AFS debt securities reported within AOCI at December 31, 2021, were $1.2 million, net of a deferred tax asset of $321,000.

For the three months ended March 31, 2022 and 2021, the Company did not sell any AFS debt securities.

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, 2022      
Obligations of U.S. government-sponsored enterprises4 $3,033 $(352)$4,637 $(563)$7,670 $(915)
Obligations of states and political subdivisions30 46,149 (2,019)— — 46,149 (2,019)
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises215 819,454 (58,095)99,504 (10,956)$918,958 (69,051)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises98 196,036 (10,751)102,752 (11,501)298,788 (22,252)
Subordinated corporate bonds12 19,433 (1,199)966 (34)20,399 (1,233)
Total AFS debt securities359 $1,084,105 $(72,416)$207,859 $(23,054)$1,291,964 $(95,470)
December 31, 2021      
Obligations of U.S. government-sponsored enterprises4 $8,344 $(241)$— $— $8,344 $(241)
Obligations of states and political subdivisions— — — — — — — 
Mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises113 659,851 (8,999)61,978 (2,469)721,829 (11,468)
Collateralized mortgage obligations issued or guaranteed by U.S. government-sponsored enterprises56 191,456 (4,602)38,117 (1,165)229,573 (5,767)
Subordinated corporate bonds7 11,932 (232)979 (22)12,911 (254)
Total AFS debt securities180 $871,583 $(14,074)$101,074 $(3,656)$972,657 $(17,730)

For the three months ended March 31, 2022 and 2021, the unrealized losses on the Company's AFS debt securities have not been recognized into income because management does not intend to sell and it is not more-likely-than-not it will be required to sell any of the AFS debt securities before recovery of its amortized cost basis. Furthermore, the unrealized losses were due to changes in interest rates and other market conditions and not reflective of credit events. The issuers continue to make timely principal and interest payments on the bonds.
At March 31, 2022 and December 31, 2021, total accrued interest receivable on AFS debt securities, which has been excluded from reported amortized cost basis on AFS debt securities, was $3.6 million and $3.4 million, respectively, and was reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.

The amortized cost and estimated fair values of the Company's AFS debt securities by contractual maturity at March 31, 2022, 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$1,217 $1,227 
Due after one year through five years8,625 8,560 
Due after five years through ten years88,087 86,586 
Due after ten years46,676 44,707 
Subtotal144,605 141,080 
Mortgage-related securities1,371,452 1,280,729 
Total$1,516,057 $1,421,809 

HTM Debt Securities

HTM debt securities are reported on the Company's consolidated statements of condition at amortized cost. 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, 2022        
Obligations of states and political subdivisions$1,290 $10 $— $1,300 
Total HTM debt securities$1,290 $10 $— $1,300 
December 31, 2021
Obligations of states and political subdivisions$1,291 $89 $— $1,380 
Total HTM debt securities$1,291 $89 $— $1,380 

As of March 31, 2022 and December 31, 2021, the Company’s HTM debt securities portfolio was made up of three investment grade municipal debt securities, of which two securities also carried credit enhancements. The HTM debt securities portfolio was comprised solely of high credit quality (rated AA or higher) state and municipal obligations. High credit quality state and municipal obligations have a history of zero to near-zero credit loss. As a result, the Company determined that the expected credit loss on its HTM portfolio was immaterial, and therefore, an allowance was not carried on its HTM debt securities at March 31, 2022 or December 31, 2021.

As of March 31, 2022 and December 31, 2021, none of the Company's HTM debt securities were past due or on non-accrual status. For the three months ended March 31, 2022 and 2021, the Company did not recognize any interest income on non-accrual HTM debt securities. At March 31, 2022 and December 31, 2021, total accrued interest receivable on HTM debt securities, which has been excluded from reported amortized cost basis on HTM debt securities, was $8,000 and $10,000, respectively, and was reported within other assets on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date.
The amortized cost and estimated fair values of HTM debt securities by contractual maturity at March 31, 2022 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In thousands)Amortized
Cost		Fair
Value
Due in one year or less$— $— 
Due after one year through five years866 875 
Due after five years through ten years424 425 
Due after ten years— — 
Total$1,290 $1,300 

AFS and HTM Debt Securities Pledged

At March 31, 2022 and December 31, 2021, AFS and HTM debt securities with an amortized cost of $699.9 million and $640.1 million and estimated fair values of $654.7 million and $641.2 million, respectively, were pledged to secure FHLBB advances, public deposits, and securities sold under agreements to repurchase and for other purposes required or permitted by law.

Other Investments

The Company's FHLBB and FRB common stock are reported at cost within other investments on the consolidated statements of condition. The Company evaluates these investments for impairment based on the ultimate recoverability of the par value. The Company did not record any impairment on its FHLBB and FRB stock for the three months ended March 31, 2022 and 2021.

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)March 31,
2022		December 31,
2021
FHLBB$4,813 $4,906 
FRB5,374 5,374 
Total other investments$10,187 $10,280