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Securities (Tables)
 9 Months Ended
Sep. 30, 2019
Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of Available for Sale ("AFS") Securities The amortized cost, estimated fair value and unrealized gains (losses) of available for sale (“AFS”) securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of September 30, 2019
                        
Federal agency
  
$
29,998
    
$
-
    
$
167
    
$
29,831
  
State & municipal
    
9
      
-
      
-
      
9
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
433,393
      
4,494
      
292
      
437,595
  
U.S. government agency securities
    
44,912
      
1,021
      
18
      
45,915
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
343,682
      
2,484
      
456
      
345,710
  
U.S. government agency securities
    
72,443
      
887
      
217
      
73,113
  
Total AFS securities
  
$
924,437
    
$
8,886
    
$
1,150
    
$
932,173
  
As of December 31, 2018
                                
Federal agency
  
$
84,982
    
$
10
    
$
693
    
$
84,299
  
State & municipal
    
30,136
      
16
      
237
      
29,915
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
493,225
      
439
      
10,354
      
483,310
  
U.S. government agency securities
    
29,190
      
270
      
475
      
28,985
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
332,409
      
344
      
7,211
      
325,542
  
U.S. government agency securities
    
47,684
      
137
      
1,376
      
46,445
  
Total AFS securities
  
$
1,017,626
    
$
1,216
    
$
20,346
    
$
998,496
  

Components of Net Realized Gains (Losses) on Sale of AFS Securities
The components of net realized gains (losses) on AFS securities are as follows. These amounts were reclassified out of accumulated other comprehensive income (loss) (“AOCI”) and into earnings.


  
Three Months Ended
September 30,
  
(In thousands)
  
2019
    
2018
  
Gross realized gains
  
$
20
    
$
-
  
Gross realized (losses)
    
-
      
-
  
Net AFS realized gains
  
$
20
    
$
-
  


 
Nine Months Ended
September 30,
  
(In thousands)
  
2019
    
2018
  
Gross realized gains
  
$
73
    
$
-
  
Gross realized (losses)
    
(152
)
    
-
  
Net AFS realized (losses)
  
$
(79
)
  
$
-
  

Amortized Cost, Estimated Fair Value, and Unrealized Gains (Losses) of Held to Maturity Securities The amortized cost, estimated fair value and unrealized gains (losses) of held to maturity (“HTM”) securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of September 30, 2019
                        
Federal agency
  
$
10,000
    
$
6
    
$
-
    
$
10,006
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
154,701
      
3,139
      
127
      
157,713
  
U.S. government agency securities
    
13,679
      
785
      
-
      
14,464
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
213,409
      
2,849
      
365
      
215,893
  
    U.S. government agency securities
    
112,974
      
4,001
      
64
      
116,911
  
State & municipal
    
173,672
      
2,544
      
14
      
176,202
  
Total HTM securities
  
$
678,435
    
$
13,324
    
$
570
    
$
691,189
  
As of December 31, 2018
                                
Federal agency
  
$
19,995
    
$
52
    
$
-
    
$
20,047
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
164,618
      
712
      
2,773
      
162,557
  
U.S. government agency securities
    
15,230
      
403
      
-
      
15,633
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
257,475
      
1,097
      
3,897
      
254,675
  
   U.S. government agency securities
    
83,148
      
767
      
-
      
83,915
  
State & municipal
    
243,133
      
331
      
1,616
      
241,848
  
Total HTM securities
  
$
783,599
    
$
3,362
    
$
8,286
    
$
778,675
  

Investment Securities with Unrealized Losses The following table sets forth information with regard to investment securities with unrealized losses segregated according to the length of time the securities had been in a continuous unrealized loss position:


 
Less Than 12 Months
    
12 Months or Longer
    
Total
  
(In thousands)
  
Fair
Value
    
Unrealized
Losses
    
Number
of
Positions
    
Fair
Value
    
Unrealized
Losses
    
Number
of
Positions
    
Fair
Value
    
Unrealized
Losses
    
Number
of
Positions
  
As of September 30, 2019
                                                      
AFS securities:
                                                      
Federal agency
  
$
19,965
    
$
(33
)
    
2
    
$
9,866
    
$
(134
)
    
1
    
$
29,831
    
$
(167
)
    
3
  
Mortgage-backed
    
36,017
      
(69
)
    
18
      
39,394
      
(241
)
    
16
      
75,411
      
(310
)
    
34
  
Collateralized mortgage obligations
    
60,272
      
(170
)
    
11
      
72,528
      
(503
)
    
23
      
132,800
      
(673
)
    
34
  
Total securities with unrealized losses
  
$
116,254
    
$
(272
)
    
31
    
$
121,788
    
$
(878
)
    
40
    
$
238,042
    
$
(1,150
)
    
71
  
                                                                         
HTM securities:
                                                                        
Mortgage-backed
  
$
-
    
$
-
      
-
    
$
26,836
    
$
(127
)
    
2
    
$
26,836
    
$
(127
)
    
2
  
Collateralized mortgage obligations
    
18,656
      
(129
)
    
3
      
23,708
      
(300
)
    
5
      
42,364
      
(429
)
    
8
  
State & municipal
    
5,447
      
(14
)
    
8
      
-
      
-
      
-
      
5,447
      
(14
)
    
8
  
Total securities with unrealized losses
  
$
24,103
    
$
(143
)
    
11
    
$
50,544
    
$
(427
)
    
7
    
$
74,647
    
$
(570
)
    
18
  
                                                                         
As of December 31, 2018
                                                                        
AFS securities:
                                                                        
Federal agency
  
$
-
    
$
-
      
-
    
$
64,294
    
$
(693
)
    
6
    
$
64,294
    
$
(693
)
    
6
  
State & municipal
    
1,715
      
(3
)
    
3
      
22,324
      
(234
)
    
35
      
24,039
      
(237
)
    
38
  
Mortgage-backed
    
18,462
      
(65
)
    
12
      
428,440
      
(10,764
)
    
101
      
446,902
      
(10,829
)
    
113
  
Collateralized mortgage obligations
    
12,118
      
(69
)
    
5
      
320,908
      
(8,518
)
    
62
      
333,026
      
(8,587
)
    
67
  
Total securities with unrealized losses
  
$
32,295
    
$
(137
)
    
20
    
$
835,966
    
$
(20,209
)
    
204
    
$
868,261
    
$
(20,346
)
    
224
  
                                                                         
HTM securities:
                                                                        
Mortgage-backed
  
$
-
    
$
-
      
-
    
$
82,579
    
$
(2,773
)
    
6
    
$
82,579
    
$
(2,773
)
    
6
  
Collateralized mortgage obligations
    
4,386
      
(7
)
    
2
      
145,396
      
(3,890
)
    
26
      
149,782
      
(3,897
)
    
28
  
State & municipal
    
18,907
      
(84
)
    
30
      
58,258
      
(1,532
)
    
86
      
77,165
      
(1,616
)
    
116
  
Total securities with unrealized losses
  
$
23,293
    
$
(91
)
    
32
    
$
286,233
    
$
(8,195
)
    
118
    
$
309,526
    
$
(8,286
)
    
150
  

Gains and Losses on Equity Securities
The following tables set forth information with regard to gains and losses on equity securities:


  
Three Months Ended September 30,
  
(In thousands)
  
2019
    
2018
  
Net gains and losses recognized on equity securities
  
$
4,012
    
$
412
  
Less: Net gains and losses recognized during the period on equity securities sold during the period
    
3,966
      
511
  
Unrealized gains and losses recognized on equity securities still held
  
$
46
    
$
(99
)


 
Nine Months Ended September 30,
  
(In thousands)
  
2019
    
2018
  
Net gains and losses recognized on equity securities
  
$
4,099
    
$
575
  
Less: Net gains and losses recognized during the period on equity securities sold during the period
    
3,966
      
555
  
Unrealized gains and losses recognized on equity securities still held
  
$
133
    
$
20
  

Contractual Maturities of Debt Securities The following tables set forth information with regard to contractual maturities of debt securities at September 30, 2019:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
37
    
$
37
  
From one to five years
    
30,404
      
30,393
  
From five to ten years
    
171,485
      
173,220
  
After ten years
    
722,511
      
728,523
  
Total AFS debt securities
  
$
924,437
    
$
932,173
  
HTM debt securities:
                
Within one year
  
$
26,940
    
$
26,940
  
From one to five years
    
68,113
      
68,531
  
From five to ten years
    
179,381
      
183,425
  
After ten years
    
404,001
      
412,293
  
Total HTM debt securities
  
$
678,435
    
$
691,189