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Securities (Tables)
 9 Months Ended
Sep. 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 September 30, 2024
                        
U.S. treasury
   $ 133,704     $ 118     $ (5,284 )   $ 128,538  
Federal agency
    
248,357
      
-
      
(25,718
)
    
222,639
  
State & municipal
    
95,657
      
7
      
(6,761
)
    
88,903
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
387,388
      
138
      
(33,068
)
    
354,458
  
U.S. government agency securities
    
72,076
      
14
      
(4,824
)
    
67,266
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
478,051
      
303
      
(36,269
)
    
442,085
  
U.S. government agency securities
    
184,570
      
116
      
(22,642
)
    
162,044
  
Corporate
    
48,472
      
-
      
(5,067
)
    
43,405
  
Total AFS securities
  
$
1,648,275
    
$
696
    
$
(139,633
)
  
$
1,509,338
  
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 September 30, 2024
                        
Federal agency
  
$
100,000
    
$
-
    
$
(14,264
)
  
$
85,736
  
Mortgage-backed:
                                
Government-sponsored enterprises
    
213,569
      
-
      
(26,732
)
    
186,837
  
U.S. government agency securities
    
15,616
      
2
      
(139
)
    
15,479
  
Collateralized mortgage obligations:
                                
Government-sponsored enterprises
    
172,596
      
84
      
(8,240
)
    
164,440
  
U.S. government agency securities
    
61,657
      
-
      
(9,481
)
    
52,176
  
State & municipal
    
291,503
      
169
      
(14,472
)
    
277,200
  
Total HTM securities
  
$
854,941
    
$
255
    
$
(73,328
)
  
$
781,868
  
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
September 30,
  
(In thousands)
  
2024
    
2023
  
Net gains (losses) recognized on equity securities
  
$
476
    
$
(183
)
Less: Net gains (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized gains (losses) recognized on equity securities still held
  
$
476
    
$
(183
)

 
Nine Months Ended
September 30,
  
(In thousands)
  
2024
    
2023
  
Net gains (losses) recognized on equity securities
  
$
283
    
$
(372
)
Less: Net gains (losses) recognized on equity securities sold during the period
    
-
      
-
  
Unrealized gains (losses) recognized on equity securities still held
  
$
283
    
$
(372
)
Contractual Maturities of Debt Securities
The following table sets forth information with regard to contractual maturities of debt securities at September 30, 2024:

(In thousands)
  
Amortized
Cost
    
Estimated
Fair Value
  
AFS debt securities:
            
Within one year
  
$
40,409
    
$
40,282
  
From one to five years
    
637,648
      
590,469
  
From five to ten years
    
244,195
      
224,850
  
After ten years
    
726,023
      
653,737
  
Total AFS debt securities
  
$
1,648,275
    
$
1,509,338
  
HTM debt securities:
                
Within one year
  
$
94,236
    
$
94,130
  
From one to five years
    
143,062
      
139,223
  
From five to ten years
    
218,104
      
194,873
  
After ten years
    
399,539
      
353,642
  
Total HTM debt securities
  
$
854,941
    
$
781,868
  
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 were 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, 2024
                                                      
AFS securities:
  
                                                 
U.S. treasury
   $ -     $ -     -     $ 118,430     $ (5,284 )     7     $ 118,430     $ (5,284 )     7  
Federal agency
    
-
      
-
      
-
      
222,639
      
(25,718
)
    
16
      
222,639
      
(25,718
)
    
16
  
State & municipal
    
-
      
-
   
-
      
88,132
      
(6,761
)
    
66
      
88,132
      
(6,761
)
    
66
  
Mortgage-backed
    
15,893
      
(47
)
    
2
      
389,558
      
(37,845
)
    
153
      
405,451
      
(37,892
)
    
155
  
Collateralized mortgage obligations
    
36,841
      
(74
)
    
5
      
510,166
      
(58,837
)
    
119
      
547,007
      
(58,911
)
    
124
  
Corporate     1,455       (24 )     1       41,950       (5,043 )     14       43,405       (5,067 )     15  
Total securities with unrealized losses
  
$
54,189
    
$
(145
)
    
8
    
$
1,370,875
    
$
(139,488
)
    
375
    
$
1,425,064
    
$
(139,633
)
    
383
  
HTM securities:
                                                                        
Federal agency
  
$
-
    
$
-
      
-
    
$
85,736
    
$
(14,264
)
    
4
    
$
85,736
    
$
(14,264
)
    
4
  
Mortgage-backed
    
-
      
-
      
-
      
202,256
      
(26,871
)
    
34
      
202,256
      
(26,871
)
    
34
  
Collateralized mortgage obligation
     -
       -     -
       208,993
       (17,721 )     52
       208,993
       (17,721 )     52
  
State & municipal
    
2,908
      
(2
)
    
3
      
174,003
      
(14,470
)
    
187
      
176,911
      
(14,472
)
    
190
  
Total securities with unrealized losses
  
$
2,908
    
$
(2
)
    
3
    
$
670,988
    
$
(73,326
)
    
277
    
$
673,896
    
$
(73,328
)
    
280
  
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