SECURITIES AVAILABLE FOR SALE (Tables)
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9 Months Ended |
Sep. 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 | September 30, 2026 | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 741 | | $ | — | | $ | (24) | | $ | 717 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | US Government-sponsored enterprises | | | 280,679 | | | 1 | | | (33,660) | | | 247,020 | US Government agency | | | 170,645 | | | 2 | | | (18,170) | | | 152,477 | Private label | | | 8,056 | | | — | | | (852) | | | 7,204 | Obligations of states and political subdivisions thereof | | | 119,292 | | | — | | | (27,624) | | | 91,668 | Corporate bonds | | | 84,524 | | | 162 | | | (2,475) | | | 82,211 | Total available-for-sale debt securities | | $ | 663,937 | | $ | 165 | | $ | (82,805) | | $ | 581,297 |
| | | | | | | | | | | | | | | | | | 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 | | Nine Months Ended | | | September 30, | | September 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Beginning Balance | | $ | — | | $ | — | | $ | — | | $ | 568 | Provision for credit losses on available-for-sale debt securities | | | — | | | — | | | — | | | 636 | Charge-offs | | | — | | | — | | | — | | | (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 | | $ | 1,330 | | $ | 1,329 | Over 1 year to 5 years | | | 25,939 | | | 25,554 | Over 5 years to 10 years | | | 41,141 | | | 38,657 | Over 10 years | | | 136,147 | | | 109,056 | Total bonds and obligations | | | 204,557 | | | 174,596 | Mortgage-backed securities and collateralized mortgage obligations | | | 459,380 | | | 406,701 | Total available-for-sale debt securities | | $ | 663,937 | | $ | 581,297 |
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| Schedule of Proceeds from Sales, Calls and Maturities of Available-for-Sale Debt Securities |
| | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Proceeds from sales | | $ | — | | $ | 40,987 | | $ | 970 | | $ | 40,987 | Proceeds from calls/paydowns | | | 22,771 | | | 31,559 | | | 63,112 | | | 73,216 | Proceeds from maturities | | | — | | | — | | | 4,000 | | | — | Gross realized gains | | | 69 | | | 247 | | | 69 | | | 247 | Gross realized losses | | | — | | | (6) | | | (25) | | | (6) | Gross impairment losses | | | — | | | (178) | | | (896) | | | (4,571) |
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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 | September 30, 2026 | | | | | | | | | | | | | | | | | | | Debt securities: | | | | | | | | | | | | | | | | | | | Obligations of US Government-sponsored enterprises | | $ | 6 | | $ | 514 | | $ | 18 | | $ | 203 | | $ | 24 | | $ | 717 | Mortgage-backed securities and collateralized mortgage obligations: | | | | | | | | | | | | | | | | | | | US Government-sponsored enterprises | | | 5,064 | | | 113,036 | | | 28,596 | | | 131,142 | | | 33,660 | | | 244,178 | US Government agency | | | 3,093 | | | 60,558 | | | 15,077 | | | 91,137 | | | 18,170 | | | 151,695 | Private label | | | — | | | 14 | | | 852 | | | 7,190 | | | 852 | | | 7,204 | Obligations of states and political subdivisions thereof | | | 990 | | | 10,045 | | | 26,634 | | | 81,623 | | | 27,624 | | | 91,668 | Corporate bonds | | | 639 | | | 30,107 | | | 1,836 | | | 34,414 | | | 2,475 | | | 64,521 | Total available-for-sale debt securities | | $ | 9,792 | | $ | 214,274 | | $ | 73,013 | | $ | 345,709 | | $ | 82,805 | | $ | 559,983 |
| | | | | | | | | | | | | | | | | | | | | 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 |
| | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | | Carrying | | Estimated | | Carrying | | Estimated | (in thousands) | | Value | | Fair Value | | Value | | Fair Value | Securities pledged for deposits | | $ | 11,830 | | $ | 9,923 | | $ | 16,204 | | $ | 14,475 | Securities pledged for repurchase agreements | | | 13,879 | | | 11,261 | | | 15,110 | | | 13,207 | Securities pledged for borrowings (1) | | | 28,423 | | | 27,694 | | | 14,831 | | | 14,515 | Total securities pledged | | $ | 54,132 | | $ | 48,878 | | $ | 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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