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Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of AFS Securities
The amortized cost, estimated fair value and unrealized gains (losses) of AFS securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of June 30, 2024
                        
U.S. treasury
   $ 143,571     $ 5     $ (8,266 )   $ 135,310  
Federal agency
    
248,366
      
-
      
(34,040
)
    
214,326
  
State & municipal
    
95,856
      
-
      
(9,854
)
    
86,002
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
375,011
      
1
      
(45,918
)
    
329,094
  
U.S. government agency securities
    
70,600
      
9
      
(7,371
)
    
63,238
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
477,441
      
71
      
(49,064
)
    
428,448
  
U.S. government agency securities
    
168,095
      
-
      
(27,055
)
    
141,040
  
Corporate
    
48,461
      
-
      
(6,474
)
    
41,987
  
Total AFS securities
  
$
1,627,401
    
$
86
    
$
(188,042
)
  
$
1,439,445
  
As of December 31, 2023
                                
U.S. treasury
   $ 133,302     $ -     $ (8,278 )   $ 125,024  
Federal agency
    
248,384
      
-
      
(33,644
)
    
214,740
  
State & municipal
    
96,251
      
11
      
(9,956
)
    
86,306
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
399,532
      
7
      
(44,264
)
    
355,275
  
U.S. government agency securities
    
74,281
      
14
      
(7,302
)
    
66,993
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
452,715
      
15
      
(48,257
)
    
404,473
  
U.S. government agency securities
    
162,171
      
-
      
(25,100
)
    
137,071
  
Corporate
    
48,442
      
-
      
(7,466
)
    
40,976
  
Total AFS securities
  
$
1,615,078
    
$
47
    
$
(184,267
)
  
$
1,430,858
  
Amortized Cost, Estimated Fair Value and Unrealized Gains (Losses) of HTM Securities
The amortized cost, estimated fair value and unrealized gains (losses) of HTM securities are as follows:

(In thousands)
  
Amortized
Cost
    
Unrealized
Gains
    
Unrealized
Losses
    
Estimated
Fair Value
  
As of June 30, 2024
                        
Federal agency
  
$
100,000
    
$
-
    
$
(18,048
)
  
$
81,952
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
218,862
      
-
      
(34,162
)
    
184,700
  
U.S. government agency securities
    
16,733
      
1
      
(734
)
    
16,000
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
177,833
      
-
      
(13,515
)
    
164,318
  
U.S. government agency securities
    
62,490
      
-
      
(11,533
)
    
50,957
  
State & municipal
    
302,991
      
77
      
(20,505
)
    
282,563
  
Total HTM securities
  
$
878,909
    
$
78
    
$
(98,497
)
  
$
780,490
  
As of December 31, 2023
                                
Federal agency
  
$
100,000
    
$
-
    
$
(17,784
)
  
$
82,216
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
228,720
      
-
      
(31,613
)
    
197,107
  
U.S. government agency securities
    
17,086
      
3
      
(566
)
    
16,523
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
187,457
      
57
      
(12,021
)
    
175,493
  
U.S. government agency securities
    
63,878
      
-
      
(10,908
)
    
52,970
  
State & municipal
    
308,126
      
211
      
(18,122
)
    
290,215
  
Total HTM securities
  
$
905,267
    
$
271
    
$
(91,014
)
  
$
814,524
  
Gains and (Losses) on Equity Securities
The following tables set forth information with regard to gains and (losses) on equity securities:

 
Three Months Ended June 30,
  
(In thousands)
  
2024
    
2023
  
Net (losses) recognized on equity securities
  
$
(92
)
  
$
(191
)
Less: Net (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized (losses) recognized on equity securities still held
  
$
(92
)
  
$
(191
)

 
Six Months Ended June 30,
  
(In thousands)
  
2024
    
2023
  
Net (losses) recognized on equity securities
  
$
(193
)
  
$
(189
)
Less: Net (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized (losses) recognized on equity securities still held
  
$
(193
)
  
$
(189
)
Contractual Maturities of Debt Securities
The following table sets forth information with regard to contractual maturities of debt securities at June 30, 2024:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
56,084
    
$
55,606
  
From one to five years
    
579,028
      
521,402
  
From five to ten years
    
305,590
      
269,587
  
After ten years
    
686,699
      
592,850
  
Total AFS debt securities
  
$
1,627,401
    
$
1,439,445
  
HTM debt securities:
                
Within one year
  
$
102,069
    
$
101,871
  
From one to five years
    
120,724
      
114,731
  
From five to ten years
    
244,994
      
212,360
  
After ten years
    
411,122
      
351,528
  
Total HTM debt securities
  
$
878,909
    
$
780,490
  
Investment Securities with Unrealized Losses
The following table sets forth information with regard to investment securities with unrealized losses, for which an allowance for credit losses has not been recorded, 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 June 30, 2024
                                                      
AFS securities:
  
                                                 
U.S. treasury
   $ 4,976     $ (6 )     1     $ 115,324     $ (8,260 )     7     $ 120,300     $ (8,266 )     8  
Federal agency
    
-
      
-
      
-
      
214,326
      
(34,040
)
    
16
      
214,326
      
(34,040
)
    
16
  
State & municipal
    
758
      
(7
)
    
1
      
85,244
      
(9,847
)
    
66
      
86,002
      
(9,854
)
    
67
  
Mortgage-backed
    
284
      
(3
)
    
6
      
391,446
      
(53,286
)
    
157
      
391,730
      
(53,289
)
    
163
  
Collateralized mortgage obligations
    
26,485
      
(118
)
    
3
      
510,558
      
(76,001
)
    
120
      
537,043
      
(76,119
)
    
123
  
Corporate     1,448       (22 )     1       40,539       (6,452 )     14       41,987       (6,474 )     15  
Total securities with unrealized losses
  
$
33,951
    
$
(156
)
    
12
    
$
1,357,437
    
$
(187,886
)
    
380
    
$
1,391,388
    
$
(188,042
)
    
392
  
HTM securities:
                                                                        
Federal agency
  
$
-
    
$
-
      
-
    
$
81,952
    
$
(18,048
)
    
4
    
$
81,952
    
$
(18,048
)
    
4
  
Mortgage-backed
    
-
      
-
      
-
      
200,630
      
(34,896
)
    
34
      
200,630
      
(34,896
)
    
34
  
Collateralized mortgage obligation
     7,822
       (84 )     1
       207,453
       (24,964 )     52
       215,275
       (25,048 )     53
  
State & municipal
    
6,557
      
(83
)
    
6
      
178,192
      
(20,422
)
    
203
      
184,749
      
(20,505
)
    
209
  
Total securities with unrealized losses
  
$
14,379
    
$
(167
)
    
7
    
$
668,227
    
$
(98,330
)
    
293
    
$
682,606
    
$
(98,497
)
    
300
  
                                                                         
As of December 31, 2023
                                                                        
AFS securities:
                                                                        
U.S. treasury
   $ -     $ -       -     $ 125,024     $ (8,278 )     8     $ 125,024     $ (8,278 )     8  
Federal agency
    
-
      
-
      
-
      
214,740
      
(33,644
)
     16      
214,740
      
(33,644
)
    
16
  
State & municipal
     -       -       -       85,528       (9,956 )     66       85,528       (9,956 )     66  
Mortgage-backed
    
53
      
(1
)
    
7
      
421,259
      
(51,565
)
    
156
      
421,312
      
(51,566
)
    
163
  
Collateralized mortgage obligations
    
1,333
      
(6
)
    
2
      
536,678
      
(73,351
)
     118
      
538,011
      
(73,357
)
    
120
  
Corporate
     1,379       (75 )     1       39,597       (7,391 )     14       40,976       (7,466 )     15  
Total securities with unrealized losses
  
$
2,765
    
$
(82
)
    
10
    
$
1,422,826
    
$
(184,185
)
    
378
    
$
1,425,591
    
$
(184,267
)
    
388
  
HTM securities:
                                                                        
Federal agency
   $ -     $ -       -     $ 82,216     $ (17,784 )     4     $ 82,216     $ (17,784 )     4  
Mortgage-backed     12,221       (365 )     1       201,320       (31,814 )     33       213,541       (32,179 )     34  
Collateralized mortgage obligations     -       -       -       219,820       (22,929 )     54       219,820       (22,929 )     54  
State & municipal
    
14,422
      
(127
)
    
21
      
171,904
      
(17,995
)
     189      
186,326
      
(18,122
)
    
210
  
Total securities with unrealized losses
  
$
26,643
    
$
(492
)
    
22
    
$
675,260
    
$
(90,522
)
     280    
$
701,903
    
$
(91,014
)
    
302