SECURITIES AVAILABLE FOR SALE (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| SECURITIES AVAILABLE FOR SALE |
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| Summary of Available-for-Sale Debt Securities |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | | | Unrealized | | Unrealized | | | | (in thousands) | | Amortized Cost | | Gains | | Losses | | Fair Value | March 31, 2026 | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 1,033 | | $ | — | | $ | (23) | | $ | 1,010 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | US Government-sponsored enterprises | | | 271,505 | | | 2,099 | | | (22,865) | | | 250,739 | US Government agency | | | 166,457 | | | 164 | | | (10,926) | | | 155,695 | Private label | | | 11,536 | | | — | | | (784) | | | 10,752 | Obligations of states and political subdivisions thereof | | | 119,937 | | | 2 | | | (17,998) | | | 101,941 | Corporate bonds | | | 79,876 | | | 304 | | | (2,340) | | | 77,840 | Total available-for-sale debt securities | | $ | 650,344 | | $ | 2,569 | | $ | (54,936) | | $ | 597,977 |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | | | Unrealized | | Unrealized | | | | (in thousands) | | Amortized Cost | | Gains | | Losses | | Fair Value | December 31, 2025 | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 1,113 | | $ | 1 | | $ | (12) | | $ | 1,102 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | US Government-sponsored enterprises | | | 268,976 | | | 2,734 | | | (22,168) | | | 249,542 | US Government agency | | | 163,369 | | | 347 | | | (9,816) | | | 153,900 | Private label | | | 11,793 | | | — | | | (794) | | | 10,999 | Obligations of states and political subdivisions thereof | | | 120,447 | | | 4 | | | (15,912) | | | 104,539 | Corporate bonds | | | 79,255 | | | 233 | | | (2,146) | | | 77,342 | Total available-for-sale debt securities | | $ | 644,953 | | $ | 3,319 | | $ | (50,848) | | $ | 597,424 |
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| Schedule of Allowance for Credit Losses on Available-for-Sale Debt Securities Held |
| | | | | | | | | | | | | | | | Three Months Ended March 31, | | | Three Months Ended March 31, | | | | 2026 | | | 2025 | (in thousands) | | | Corporate Bonds | | | Total | | | Corporate Bonds | | | Total | Beginning Balance | | $ | — | | $ | — | | $ | 568 | | $ | 568 | Provision for credit losses on available-for-sale debt securities | | | — | | | — | | | 636 | | | 636 | Charge-offs | | | — | | | — | | | — | | | — | Ending Balance | | $ | — | | $ | — | | $ | 1,204 | | $ | 1,204 |
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| Schedule of Amortized Cost and Estimated Fair Value of Available-for-Sale Securities, Segregated by Contractual Maturity |
| | | | | | | | | Available for sale | (in thousands) | | Amortized Cost | | Fair Value | Within 1 year | | $ | 16,074 | | $ | 15,975 | Over 1 year to 5 years | | | 28,152 | | | 27,314 | Over 5 years to 10 years | | | 41,168 | | | 39,598 | Over 10 years | | | 115,452 | | | 97,904 | Total bonds and obligations | | | 200,846 | | | 180,791 | Mortgage-backed securities and collateralized mortgage obligations | | | 449,498 | | | 417,186 | Total available-for-sale debt securities | | $ | 650,344 | | $ | 597,977 |
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| Schedule of Proceeds from Sales, Calls and Maturities of Available-for-Sale Debt Securities |
| | | | | | | | | Three Months Ended | | | March 31, | (in thousands) | | 2026 | | 2025 | Proceeds from sales | | $ | — | | $ | — | Proceeds from calls/paydowns | | | 19,316 | | | 28,336 | Proceeds from maturities | | | — | | | — | Gross realized gains | | | — | | | — | Gross realized losses | | | — | | | — | Gross impairment losses | | | (896) | | | — |
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| Schedule of Securities with Unrealized Losses, Segregated by the Duration of Continuous Unrealized Loss Positions |
| | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Over Twelve Months | | Total | | | Gross | | | | | Gross | | | | | Gross | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | (in thousands) | | Losses | | Value | | Losses | | Value | | Losses | | Value | March 31, 2026 | | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 10 | | $ | 672 | | $ | 13 | | $ | 338 | | $ | 23 | | $ | 1,010 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | US Government-sponsored enterprises | | | 109 | | | 16,824 | | | 22,756 | | | 145,417 | | | 22,865 | | | 162,241 | US Government agency | | | 850 | | | 49,579 | | | 10,076 | | | 88,163 | | | 10,926 | | | 137,742 | Private label | | | 2 | | | 1,998 | | | 782 | | | 8,740 | | | 784 | | | 10,738 | Obligations of states and political subdivisions thereof | | | 147 | | | 6,387 | | | 17,851 | | | 91,052 | | | 17,998 | | | 97,439 | Corporate bonds | | | 532 | | | 13,959 | | | 1,808 | | | 41,192 | | | 2,340 | | | 55,151 | Total available-for-sale debt securities | | $ | 1,650 | | $ | 89,419 | | $ | 53,286 | | $ | 374,902 | | $ | 54,936 | | $ | 464,321 |
| | | | | | | | | | | | | | | | | | | | | Less Than Twelve Months | | Over Twelve Months | | Total | | | Gross | | | | | Gross | | | | | Gross | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | (in thousands) | | Losses | | Value | | Losses | | Value | | Losses | | Value | December 31, 2025 | | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | — | | $ | — | | $ | 12 | | $ | 413 | | $ | 12 | | $ | 413 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | US Government-sponsored enterprises | | | 7 | | | 1,241 | | | 22,161 | | | 150,629 | | | 22,168 | | | 151,870 | US Government agency | | | 970 | | | 39,343 | | | 8,846 | | | 72,849 | | | 9,816 | | | 112,192 | Private label | | | 1 | | | 2,000 | | | 793 | | | 8,984 | | | 794 | | | 10,984 | Obligations of states and political subdivisions thereof | | | — | | | — | | | 15,912 | | | 97,856 | | | 15,912 | | | 97,856 | Corporate bonds | | | 82 | | | 6,911 | | | 2,064 | | | 53,936 | | | 2,146 | | | 60,847 | Total available-for-sale debt securities | | $ | 1,060 | | $ | 49,495 | | $ | 49,788 | | $ | 384,667 | | $ | 50,848 | | $ | 434,162 |
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| Summary of Securities Pledged as Collateral |
| | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | | Carrying | | Estimated | | Carrying | | Estimated | (in thousands) | | Value | | Fair Value | | Value | | Fair Value | Securities pledged for deposits | | $ | 15,782 | | $ | 14,020 | | $ | 16,204 | | $ | 14,475 | Securities pledged for repurchase agreements | | | 14,635 | | | 12,666 | | | 15,110 | | | 13,207 | Securities pledged for borrowings (1) | | | 20,592 | | | 20,235 | | | 14,831 | | | 14,515 | Total securities pledged | | $ | 51,009 | | $ | 46,921 | | $ | 46,145 | | $ | 42,197 |
| (1) | The Bank pledged securities as collateral for certain borrowing arrangements with the Federal Home Loan Bank of Boston and the Federal Reserve Bank of Boston (the “Reserve Bank”). |
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