SECURITIES (Tables)

3 Months Ended

Mar. 31, 2025

SECURITIES

Schedule of major categories of securities owned by entity

	March 31, 2025
			Gross		Gross			Allowance
	Amortized		Unrealized		Unrealized			For Credit	Fair
(In thousands)	Cost		Gains		Losses			Losses	Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(297)	$	—	$	9,703
Corporate securities		185,837		887		(10,295)		(893)		175,536
Pass-through mortgage-backed securities ("MBS") issued by government sponsored entities ("GSEs")		298,704		1,961		(1,152)		—		299,513
Agency CMOs		228,300		276		(25,570)		—		203,006
State and municipal obligations		24,112		—		(1,291)		—		22,821
Total securities available-for-sale	$	746,953	$	3,124	$	(38,605)	$	(893)	$	710,579

	March 31, 2025
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	90,082	$	—	$	(8,853)	$	81,229
Corporate securities		13,000		200		(710)		12,490
Pass-through MBS issued by GSEs		295,309		99		(37,675)		257,733
Agency CMOs		232,943		209		(25,818)		207,334
Total securities held-to-maturity	$	631,334	$	508	$	(73,056)	$	558,786

	December 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
Agency notes	$	10,000	$	—	$	(393)	$	9,607
Corporate securities		173,972		755		(10,778)		163,949
Pass-through MBS issued by GSEs		303,303		30		(3,112)		300,221
Agency CMOs		220,314		16		(28,442)		191,888
State and municipal obligations		26,545		—		(1,517)		25,028
Total securities available-for-sale	$	734,134	$	801	$	(44,242)	$	690,693
	December 31, 2024
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Securities held-to-maturity:
Agency notes	$	89,977	$	—	$	(10,961)	$	79,016
Corporate securities		13,000		140		(855)		12,285
Pass-through MBS issued by GSEs		298,697		—		(43,716)		254,981
Agency CMOs		235,665		29		(29,699)		205,995
Total securities held-to-maturity	$	637,339	$	169	$	(85,231)	$	552,277

Schedule of amortized cost and fair value of debt securities

	March 31, 2025
	Amortized		Fair
(In thousands)	Cost		Value
Available-for-sale
Within one year	$	8,012	$	7,909
One to five years		57,629		53,734
Five to ten years		149,415		142,407
Beyond ten years		4,000		4,010
Pass-through MBS issued by GSEs and agency CMOs		527,004		502,519
Total	$	746,060	$	710,579
Held-to-maturity
Within one year	$	—	$	—
One to five years		19,841		18,893
Five to ten years		83,241		74,826
Beyond ten years		—		—
Pass-through MBS issued by GSEs and agency CMOs		528,252		465,067
Total	$	631,334	$	558,786

Schedule of gross unrealized losses and fair value of investment securities

	March 31, 2025
	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	$	—	$	—	$	9,703	$	297	$	9,703	$	297
Corporate securities		21,875		125		126,654		10,170		148,529		10,295
Pass-through MBS issued by GSEs		44,456		335		5,967		817		50,423		1,152
Agency CMOs		7,705		4		151,713		25,566		159,418		25,570
State and municipal obligations		3,485		15		19,336		1,276		22,821		1,291

	December 31, 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	$	—	$	—	$	9,607	$	393	$	9,607	$	393
Corporate securities		2,925		16		141,124		10,762		144,049		10,778
Pass-through MBS issued by GSEs		289,095		2,170		6,119		942		295,214		3,112
Agency CMOs		32,101		357		154,770		28,085		186,871		28,442
State and municipal obligations		3,469		31		21,559		1,486		25,028		1,517

Roll forward of the allowance for credit losses for corporate securities available-for-sale

	Three Months Ended March 31,
(In thousands)	2025		2024
Beginning balance	$	—	$	—
Provision for credit losses		893		—
Ending balance	$	893	$	—