SECURITIES AVAILABLE FOR SALE (Tables)
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6 Months Ended |
Jun. 30, 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 | June 30, 2026 | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 780 | | $ | — | | $ | (22) | | $ | 758 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | US Government-sponsored enterprises | | | 279,508 | | | 1,491 | | | (23,499) | | | 257,500 | US Government agency | | | 169,062 | | | 141 | | | (11,786) | | | 157,417 | Private label | | | 10,299 | | | — | | | (735) | | | 9,564 | Obligations of states and political subdivisions thereof | | | 119,613 | | | 2 | | | (14,294) | | | 105,321 | Corporate bonds | | | 72,895 | | | 331 | | | (2,014) | | | 71,212 | Total available-for-sale debt securities | | $ | 652,157 | | $ | 1,965 | | $ | (52,350) | | $ | 601,772 |
| | | | | | | | | | | | | | | | | | 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 | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Beginning Balance | | $ | — | | $ | 1,204 | | $ | — | | $ | 568 | Provision for credit losses on available-for-sale debt securities | | | — | | | — | | | — | | | 636 | Charge-offs | | | — | | | (1,204) | | | — | | | (1,204) | Ending Balance | | $ | — | | $ | — | | $ | — | | $ | — |
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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 | | $ | 6,081 | | $ | 5,997 | Over 1 year to 5 years | | | 28,070 | | | 27,734 | Over 5 years to 10 years | | | 41,166 | | | 39,531 | Over 10 years | | | 117,971 | | | 104,029 | Total bonds and obligations | | | 193,288 | | | 177,291 | Mortgage-backed securities and collateralized mortgage obligations | | | 458,869 | | | 424,481 | Total available-for-sale debt securities | | $ | 652,157 | | $ | 601,772 |
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| Schedule of Proceeds from Sales, Calls and Maturities of Available-for-Sale Debt Securities |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Proceeds from sales | | $ | 970 | | $ | — | | $ | 970 | | $ | — | Proceeds from calls/paydowns | | | 21,025 | | | 13,321 | | | 40,341 | | | 41,656 | Proceeds from maturities | | | 4,000 | | | — | | | 4,000 | | | — | Gross realized gains | | | — | | | — | | | — | | | — | Gross realized losses | | | (25) | | | — | | | (25) | | | — | Gross impairment losses | | | — | | | (4,393) | | | (896) | | | (4,393) |
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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 | June 30, 2026 | | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 9 | | $ | 516 | | $ | 13 | | $ | 242 | | $ | 22 | | $ | 758 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | US Government-sponsored enterprises | | | 482 | | | 37,248 | | | 23,017 | | | 140,341 | | | 23,499 | | | 177,589 | US Government agency | | | 980 | | | 51,491 | | | 10,806 | | | 94,528 | | | 11,786 | | | 146,019 | Private label | | | 1 | | | 1,998 | | | 734 | | | 7,552 | | | 735 | | | 9,550 | Obligations of states and political subdivisions thereof | | | 38 | | | 4,778 | | | 14,256 | | | 94,322 | | | 14,294 | | | 99,100 | Corporate bonds | | | 210 | | | 14,290 | | | 1,804 | | | 37,196 | | | 2,014 | | | 51,486 | Total available-for-sale debt securities | | $ | 1,720 | | $ | 110,321 | | $ | 50,630 | | $ | 374,181 | | $ | 52,350 | | $ | 484,502 |
| | | | | | | | | | | | | | | | | | | | | 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 |
| | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Carrying | | Estimated | | Carrying | | Estimated | (in thousands) | | Value | | Fair Value | | Value | | Fair Value | Securities pledged for deposits | | $ | 12,265 | | $ | 10,726 | | $ | 16,204 | | $ | 14,475 | Securities pledged for repurchase agreements | | | 14,183 | | | 12,163 | | | 15,110 | | | 13,207 | Securities pledged for borrowings (1) | | | 28,518 | | | 28,090 | | | 14,831 | | | 14,515 | Total securities pledged | | $ | 54,966 | | $ | 50,979 | | $ | 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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