Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Securities (Tables)

v3.23.1
Note 4 - Securities (Tables)
3 Months Ended
Mar. 31, 2023
Notes Tables  
Unrealized Gain (Loss) on Investments [Table Text Block]
           

Gross

   

Gross

         
   

Amortized

   

Unrealized

   

Unrealized

   

Market

 
   

Cost

   

Gain

   

Loss

   

Value

 

March 31, 2023

 

(In Thousands)

 

Debt Securities Available for Sale

                               

U.S. Treasury Securities

  $ 3,001     $ -     $ (11 )   $ 2,990  

Government Agency Securities

    4       -       -       4  

Mortgage-backed securities

    272,070       7       (29,046 )     243,031  

State and municipal securities

    14,646       2       (1,337 )     13,311  

Corporate debt

    398,676       3       (33,067 )     365,612  

Total

  $ 688,397     $ 12     $ (63,461 )   $ 624,948  

Debt Securities Held to Maturity

                               

U.S. Treasury Securities

  $ 507,601     $ -     $ (30,021 )   $ 477,580  

Mortgage-backed securities

    506,342       10       (53,190 )     453,162  

State and municipal securities

    8,046       -       (827 )     7,219  

Total

  $ 1,021,989     $ 10     $ (84,038 )   $ 937,961  
                                 

December 31, 2022

                               

Debt Securities Available for Sale

                               

U.S. Treasury Securities

  $ 3,002     $ -     $ (33 )   $ 2,969  

Government Agency Securities

    9       -       -       9  

Mortgage-backed securities

    282,480       5       (32,782 )     249,703  

State and municipal securities

    15,205       1       (1,597 )     13,609  

Corporate debt

    406,680       -       (28,155 )     378,525  

Total

  $ 707,376     $ 6     $ (62,567 )   $ 644,815  

Debt Securities Held to Maturity

                               

U.S. Treasury Securities

  $ 507,151     $ -     $ (36,197 )   $ 470,954  

Mortgage-backed securities

    518,929       7       (60,960 )     457,976  

State and municipal securities

    8,041       -       (1,018 )     7,023  

Total

  $ 1,034,121     $ 7     $ (98,175 )   $ 935,953  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
   

March 31, 2023

   

December 31, 2022

 
   

Amortized Cost

   

Market Value

   

Amortized Cost

   

Market Value

 
   

(In Thousands)

 

Debt securities available for sale

                               

Due within one year

  $ 24,422     $ 24,042     $ 24,712     $ 24,432  

Due from one to five years

    59,243       57,178       58,554       57,092  

Due from five to ten years

    329,662       298,353       338,630       311,100  

Due after ten years

    3,000       2,344       3,000       2,488  

Mortgage-backed securities

    272,070       243,031       282,480       249,703  
    $ 688,397     $ 624,948     $ 707,376     $ 644,815  
                                 

Debt securities held to maturity

                               

Due within one year

  $ 250     $ 250     $ 250     $ 250  

Due from one to five years

    386,897       370,166       386,465       366,095  

Due from five to ten years

    128,500       114,383       128,477       111,632  

Due after ten years

    -       -       -       -  

Mortgage-backed securities

    506,342       453,162       518,929       457,976  
    $ 1,021,989     $ 937,961     $ 1,034,121     $ 935,953  
Gain (Loss) on Securities [Table Text Block]
   

Less Than Twelve Months

   

Twelve Months or More

   

Total

 
   

Gross

           

Gross

           

Gross

         
   

Unrealized

           

Unrealized

           

Unrealized

         
   

Losses

   

Fair Value

   

Losses

   

Fair Value

   

Losses

   

Fair Value

 
   

(In Thousands)

 

March 31, 2023

                                               

Debt Securities available for sale

                                               

U.S. Treasury Securities

  $ -     $ -     $ (11 )   $ 2,990     $ (11 )   $ 2,990  

Government Agency Securities

    -       4       -       -       -       4  

Mortgage-backed securities

    (364 )     8,468       (28,682 )     233,956       (29,046 )     242,424  

State and municipal securities

    (27 )     3,328       (1,310 )     9,202       (1,337 )     12,530  

Corporate debt

    (8,809 )     163,363       (24,258 )     189,931       (33,067 )     353,294  

Total

  $ (9,200 )   $ 175,163     $ (54,261 )   $ 436,079     $ (63,461 )   $ 611,242  

Debt Securities held to maturity

                                               

U.S. Treasury Securities

  $ (2,678 )   $ 130,640     $ (27,343 )   $ 346,939     $ (30,021 )   $ 477,579  

Mortgage-backed securities

    (1,645 )     31,827       (51,545 )     416,994       (53,190 )     448,821  

State and municipal securities

    -       -       (827 )     6,969       (827 )     6,969  

Total

  $ (4,323 )   $ 162,467     $ (79,715 )   $ 770,902     $ (84,038 )   $ 933,369  

December 31, 2022

                                               

Debt Securities available for sale

                                               

U.S. Treasury Securities

  $ (33 )   $ 2,969     $ -     $ -     $ (33 )   $ 2,969  

Government Agency Securities

    -       9       -       -       -       9  

Mortgage-backed securities

  $ (3,473 )   $ 60,234     $ (29,309 )   $ 189,109     $ (32,782 )   $ 249,343  

State and municipal securities

    (186 )     5,283       (1,411 )     7,880       (1,597 )     13,163  

Corporate debt

    (18,566 )     304,254       (9,589 )     63,411       (28,155 )     367,666  

Total

  $ (22,258 )   $ 372,749     $ (40,309 )   $ 260,400     $ (62,567 )   $ 633,149  

U.S. Treasury Securities

  $ (12,662 )   $ 295,383     $ (23,537 )   $ 175,570     $ (36,197 )   $ 470,953  

Mortgage-backed securities

    (31,367 )     278,746       (29,592 )     174,842       (60,960 )     453,588  

State and municipal securities

    (544 )     4,443       (474 )     2,330       (1,018 )     6,773  

Total

  $ (44,573 )   $ 578,572     $ (53,603 )   $ 352,742     $ (98,175 )   $ 931,314  
Debt Securities, Available-for-Sale [Table Text Block]
   

Three Months Ended March 31,

 
   

2023

   

2022

 
   

(In Thousands)

 

Sale proceeds

  $ -     $ 45,394  

Gross realized gains

  $ -     $ -  

Gross realized losses

    -       (3,335 )

Net realized losses

  $ -     $ (3,335 )