SECURITIES (Tables)

9 Months Ended

Sep. 30, 2024

SECURITIES

Schedule of major categories of securities owned by entity

	September 30, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000		—		(311)	$	9,689
Treasury securities		166,278		—		(4,907)		161,371
Corporate securities		173,909		607		(13,887)		160,629
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		197,805		26		(18,495)		179,336
Agency CMOs		276,677		61		(38,965)		237,773
State and municipal obligations		27,154		1		(1,345)		25,810
Total securities available-for-sale	$	851,823	$	695	$	(77,910)	$	774,608
	September 30, 2024
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,873	$	—	$	(8,355)	$	81,518
Corporate securities		13,000		80		(975)		12,105
Pass-through MBS issued by GSEs		266,043		136		(31,803)		234,376
Agency CMOs		223,498		151		(23,118)		200,531
Total securities held-to-maturity	$	592,414	$	367	$	(64,251)	$	528,530

	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

	September 30, 2024
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	119,761	$	117,040
One to five years		96,687		91,475
Five to ten years		160,893		148,984
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		474,482		417,109
Total	$	851,823	$	774,608
Held-to-maturity
Within one year	$	—	$	—
One to five years		19,818		18,865
Five to ten years		83,055		74,758
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		489,541		434,907
Total	$	592,414	$	528,530

Summary of sale of available-for-sale securities

	Three Months Ended				Nine Months Ended
	September 30,				September 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

	September 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	$	—	$	—	$	9,689	$	311	$	9,689	$	311
Treasury securities		—		—		161,371		4,907		161,371		4,907
Corporate securities		3,700		300		134,359		13,587		138,059		13,887
Pass-through MBS issued by GSEs		—		—		177,238		18,495		177,238		18,495
Agency CMOs		—		—		230,244		38,965		230,244		38,965
State and municipal obligations		—		—		22,309		1,345		22,309		1,345

	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