Note 2 - Debt Securities (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Notes Tables |
|
| Unrealized Gain (Loss) on Investments [Table Text Block] |
| |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
| |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Market |
|
| |
|
Cost |
|
|
Gain |
|
|
Loss |
|
|
Value |
|
| |
|
(In Thousands) |
|
| December 31, 2023 |
|
|
|
| Debt Securities Available-for-Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury Securities |
|
$ |
340,556 |
|
|
$ |
251 |
|
|
$ |
- |
|
|
$ |
340,807 |
|
| Mortgage-backed securities |
|
|
241,458 |
|
|
|
6 |
|
|
|
(25,979 |
) |
|
|
215,485 |
|
| State and municipal securities |
|
|
11,400 |
|
|
|
1 |
|
|
|
(1,178 |
) |
|
|
10,223 |
|
| Corporate debt |
|
|
375,676 |
|
|
|
- |
|
|
|
(42,009 |
) |
|
|
333,667 |
|
| Total |
|
$ |
969,090 |
|
|
$ |
258 |
|
|
$ |
(69,166 |
) |
|
$ |
900,183 |
|
| Debt Securities Held-to-Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury Securities |
|
$ |
508,985 |
|
|
$ |
- |
|
|
$ |
(24,718 |
) |
|
$ |
484,267 |
|
| Mortgage-backed securities |
|
|
465,615 |
|
|
|
3 |
|
|
|
(50,025 |
) |
|
|
415,593 |
|
| State and municipal securities |
|
|
8,063 |
|
|
|
- |
|
|
|
(732 |
) |
|
|
7,331 |
|
| Total |
|
$ |
982,664 |
|
|
$ |
3 |
|
|
$ |
(75,475 |
) |
|
$ |
907,191 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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] |
| |
|
December 31, 2023 |
|
|
December 31, 2022 |
|
| |
|
Amortized Cost |
|
|
Market Value |
|
|
Amortized Cost |
|
|
Market Value |
|
| |
|
(In Thousands) |
|
| Debt securities available-for-sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Due within one year |
|
$ |
350,400 |
|
|
$ |
350,396 |
|
|
$ |
24,712 |
|
|
$ |
24,432 |
|
| Due from one to five years |
|
|
70,016 |
|
|
|
67,334 |
|
|
|
58,554 |
|
|
|
57,092 |
|
| Due from five to ten years |
|
|
304,216 |
|
|
|
264,892 |
|
|
|
338,630 |
|
|
|
311,100 |
|
| Due after ten years |
|
|
3,000 |
|
|
|
2,076 |
|
|
|
3,000 |
|
|
|
2,488 |
|
| Mortgage-backed securities |
|
|
241,458 |
|
|
|
215,485 |
|
|
|
282,480 |
|
|
|
249,703 |
|
| |
|
$ |
969,090 |
|
|
$ |
900,183 |
|
|
$ |
707,376 |
|
|
$ |
644,815 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt securities held-to-maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Due within one year |
|
$ |
260,047 |
|
|
$ |
257,835 |
|
|
$ |
250 |
|
|
$ |
250 |
|
| Due from one to five years |
|
|
203,481 |
|
|
|
185,741 |
|
|
|
386,465 |
|
|
|
366,095 |
|
| Due from five to ten years |
|
|
53,521 |
|
|
|
48,022 |
|
|
|
128,477 |
|
|
|
111,632 |
|
| Mortgage-backed securities |
|
|
465,615 |
|
|
|
415,593 |
|
|
|
518,929 |
|
|
|
457,976 |
|
| |
|
$ |
982,664 |
|
|
$ |
907,191 |
|
|
$ |
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) |
|
| December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Securities available-for-sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage-backed securities |
|
$ |
(6 |
) |
|
$ |
704 |
|
|
$ |
(25,973 |
) |
|
$ |
214,393 |
|
|
$ |
(25,979 |
) |
|
$ |
215,097 |
|
| State and municipal securities |
|
|
- |
|
|
|
- |
|
|
|
(1,178 |
) |
|
|
9,777 |
|
|
|
(1,178 |
) |
|
|
9,777 |
|
| Corporate debt |
|
|
(794 |
) |
|
|
15,141 |
|
|
|
(41,214 |
) |
|
|
311,666 |
|
|
|
(42,009 |
) |
|
|
326,807 |
|
| Total |
|
$ |
(801 |
) |
|
$ |
15,845 |
|
|
$ |
(68,365 |
) |
|
$ |
535,836 |
|
|
$ |
(69,166 |
) |
|
$ |
551,681 |
|
| Debt Securities held-to-maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury Securities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(24,718 |
) |
|
$ |
484,267 |
|
|
$ |
(24,718 |
) |
|
$ |
484,267 |
|
| Mortgage-backed securities |
|
|
(1 |
) |
|
|
430 |
|
|
|
(50,024 |
) |
|
|
411,585 |
|
|
|
(50,025 |
) |
|
|
412,015 |
|
| State and municipal securities |
|
|
- |
|
|
|
- |
|
|
|
(732 |
) |
|
|
7,081 |
|
|
|
(732 |
) |
|
|
7,081 |
|
| Total |
|
$ |
(1 |
) |
|
$ |
430 |
|
|
$ |
(75,474 |
) |
|
$ |
902,933 |
|
|
$ |
(75,475 |
) |
|
$ |
903,363 |
|
| 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] |
| |
|
Years Ended December 31, |
|
| |
|
2023 |
|
|
2022 |
|
|
2021 |
|
| |
|
(In Thousands) |
|
| Sale and call proceeds |
|
$ |
- |
|
|
$ |
75,036 |
|
|
$ |
6,272 |
|
| Gross realized gains |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
620 |
|
| Gross realized losses |
|
|
- |
|
|
|
(6,168 |
) |
|
|
- |
|
| Net realized (loss) gain |
|
$ |
- |
|
|
$ |
(6,168 |
) |
|
$ |
620 |
|
|