SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

SECURITIES

Schedule of major categories of securities owned by entity

	June 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(568)	$	9,432
Treasury securities		206,420		—		(8,508)		197,912
Corporate securities		173,932		348		(18,870)		155,410
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		212,655		16		(25,627)		187,044
Agency CMOs		290,992		18		(47,164)		243,846
State and municipal obligations		27,573		—		(1,995)		25,578
Total securities available-for-sale	$	921,572	$	382	$	(102,732)	$	819,222
	June 30, 2024
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,769	$	—	$	(11,721)	$	78,048
Corporate securities		13,000		40		(1,360)		11,680
Pass-through MBS issued by GSEs		270,048		—		(42,260)		227,788
Agency CMOs		215,183		35		(29,897)		185,321
Total securities held-to-maturity	$	588,000	$	75	$	(85,238)	$	502,837

	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(629)	$	9,371
Treasury securities		245,877		—		(11,687)		234,190
Corporate securities		174,978		—		(23,808)		151,170
Pass-through MBS issued by GSEs		230,253		10		(24,978)		205,285
Agency CMOs		305,860		46		(46,491)		259,415
State and municipal obligations		28,741		—		(1,932)		26,809
Total securities available-for-sale	$	995,709	$	56	$	(109,525)	$	886,240
	December 31, 2023
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,563	$	—	$	(11,300)	$	78,263
Corporate securities		9,000		—		(1,825)		7,175
Pass-through MBS issued by GSEs		279,853		—		(37,579)		242,274
Agency CMOs		216,223		16		(27,021)		189,218
Total securities held-to-maturity	$	594,639	$	16	$	(77,725)	$	516,930

Schedule of amortized cost and fair value of debt securities

	June 30, 2024
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	120,035	$	116,850
One to five years		136,862		127,506
Five to ten years		161,028		143,976
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		503,647		430,890
Total	$	921,572	$	819,222
Held-to-maturity
Within one year	$	—	$	—
One to five years		19,806		18,303
Five to ten years		82,963		71,425
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		485,231		413,109
Total	$	588,000	$	502,837

Summary of sale of available-for-sale securities

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Securities available-for-sale
Proceeds	$	—	$	—	$	—	$	77,804
Gross gains		—		—		—		130
Tax expense on gains		—		—		—		39
Gross losses		—		—		—		1,577
Tax benefit on losses		—		—		—		467

Schedule of gross unrealized losses and fair value of investment securities

	June 30, 2024
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Agency notes	$	—	$	—	$	9,432	$	568	$	9,432	$	568
Treasury securities		—		—		197,912		8,508		197,912		8,508
Corporate securities		6,328		516		129,653		18,354		135,981		18,870
Pass-through MBS issued by GSEs		—		—		185,243		25,627		185,243		25,627
Agency CMOs		2,449		21		236,379		47,143		238,828		47,164
State and municipal obligations		3,430		70		22,148		1,925		25,578		1,995

	December 31, 2023
	Less than 12				12 Consecutive
	Consecutive Months				Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses		Value		Losses
Securities available-for-sale:
Agency Notes	$	—	$	—	$	9,371	$	629	$	9,371	$	629
Treasury securities		—		—		234,190		11,687		234,190		11,687
Corporate securities		20,935		917		130,235		22,891		151,170		23,808
Pass-through MBS issued by GSEs		—		—		203,469		24,978		203,469		24,978
Agency CMOs		—		—		251,900		46,491		251,900		46,491
State and municipal obligations		1,796		54		21,513		1,878		23,309		1,932