Flushing Financial Corp Q2 2024 10-Q Filed

TL;DR

**FFIC Q2 2024 10-Q: Accrued investment income up to $393.2M.**

AI Summary

Flushing Financial Corporation (FFIC) filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance, including interest and fee income from loans and leases, as well as interest expense on deposits. Key figures such as accrued investment income receivable were reported at $393.2 million for the current period, up from $360.5 million in the prior period.

Why It Matters

This filing provides insight into Flushing Financial's operational and financial health, which can influence investor decisions and market perception of the bank.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information that requires careful analysis to fully assess the company's risk profile.

Key Numbers

• $393.2M — Accrued Investment Income Receivable (Increased from $360.5M in the prior period, indicating potential growth in interest-earning assets.)
• $360.5M — Accrued Investment Income Receivable (prior period) (Provides a baseline for comparison to assess the change in the current period.)

Key Players & Entities

• Flushing Financial Corp (company) — Filer of the 10-Q
• 0001558370-24-011637 (other) — Accession Number for the filing
• 20240630 (date) — Conformed Period of Report
• 20240808 (date) — Filed as of Date
• 393200000 (dollar_amount) — Accrued Investment Income Receivable
• 360500000 (dollar_amount) — Accrued Investment Income Receivable (prior period)

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value FFIC The Nasdaq Stock Mar

Filing Documents

• ffic-20240630x10q.htm (10-Q) — 6941KB
• ffic-20240630xex10d1.htm (EX-10.1) — 104KB
• ffic-20240630xex31d1.htm (EX-31.1) — 10KB
• ffic-20240630xex31d2.htm (EX-31.2) — 11KB
• ffic-20240630xex32d1.htm (EX-32.1) — 7KB
• ffic-20240630xex32d2.htm (EX-32.2) — 8KB
• 0001558370-24-011637.txt ( ) — 30294KB
• ffic-20240630.xsd (EX-101.SCH) — 80KB
• ffic-20240630_cal.xml (EX-101.CAL) — 115KB
• ffic-20240630_def.xml (EX-101.DEF) — 416KB
• ffic-20240630_lab.xml (EX-101.LAB) — 695KB
• ffic-20240630_pre.xml (EX-101.PRE) — 620KB
• ffic-20240630x10q_htm.xml (XML) — 9674KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements - (Unaudited)

ITEM 1. Financial Statements - (Unaudited) Consolidated Statements of Financial Condition 1 Consolidated Statements of Income 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Changes in Stockholders' Equity 4 Consolidated Statements of Cash Flow s 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 44

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 62

Controls and Procedures

ITEM 4. Controls and Procedures 62

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 63

Risk Factors

ITEM 1A. Risk Factors 63

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 63

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 63

Other Information

ITEM 5. Other Information 63

Exhibits

ITEM 6. Exhibits 64

SIGNATURES

SIGNATURES 66 i Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statements of Financial Condition (Unaudited)

Financial Statements

Item 1. Financial Statements June 30, December 31, 2024 2023 (Dollars in thousands, except per share data) Assets Cash and due from banks (restricted cash of $ 57,355 , and $ 47,945 , respectively) $ 156,913 $ 172,157 Securities held-to-maturity, net of allowance of $ 1,089 and $ 1,087 , respectively (assets pledged of $ 4,503 and $ 4,595 , respectively; fair value of $ 61,070 and $ 65,755 , respectively) 72,012 72,923 Securities available for sale, at fair value (amortized cost of $ 1,631,164 and $ 954,164 , respectively; assets pledged of $ 232,029 and $ 195,444 , respectively; $ 13,358 and $ 13,359 at fair value pursuant to the fair value option, respectively) 1,548,611 874,753 Loans, net of fees and costs 6,777,026 6,906,950 Less: Allowance for credit losses ( 41,648 ) ( 40,161 ) Net loans 6,735,378 6,866,789 Interest and dividends receivable 62,752 59,018 Bank premises and equipment, net 19,426 21,273 Federal Home Loan Bank of New York stock, at cost 46,331 31,066 Bank owned life insurance 215,940 213,518 Goodwill 17,636 17,636 Core deposit intangibles 1,322 1,537 Right of use asset 46,636 39,557 Other assets 174,283 167,009 Total assets $ 9,097,240 $ 8,537,236 Liabilities Due to depositors: Non-interest bearing $ 825,327 $ 847,416 Interest-bearing 6,023,834 5,917,463 Total Due to depositors 6,849,161 6,764,879 Mortgagors' escrow deposits 57,702 50,382 Borrowed funds: Federal Home Loan Bank advances and other borrowings 1,080,050 605,801 Subordinated debentures 187,974 187,630 Junior subordinated debentures, at fair value 48,541 47,850 Total borrowed funds 1,316,565 841,281 Operating lease liability 47,485 40,822 Other liabilities 161,005 170,035 Total liabilities 8,431,918 7,867,399 Stockholders' Equity Preferred stock ($ 0.01 par value; 5,000,000 shares authorized; none issued) — — Common stock ($ 0.01 pa

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statements of Income (Unaudited) For the three months ended For the six months ended June 30, June 30, 2024 2023 2024 2023 (In thousands, except per share data) Interest and dividend income Interest and fees on loans $ 92,728 $ 85,377 $ 185,687 $ 168,266 Interest and dividends on securities: Interest 18,209 9,172 30,750 16,412 Dividends 33 30 66 59 Other interest income 2,260 1,982 6,226 3,941 Total interest and dividend income 113,230 96,561 222,729 188,678 Interest expense Deposits 60,893 46,249 118,758 85,305 Other interest expense 9,561 6,934 18,798 14,733 Total interest expense 70,454 53,183 137,556 100,038 Net interest income 42,776 43,378 85,173 88,640 Provision (benefit) for credit losses 809 1,416 1,401 8,924 Net interest income after provision (benefit) for credit losses 41,967 41,962 83,772 79,716 Non-interest income Banking services fee income 1,583 1,780 2,977 3,191 Net gain (loss) on sale of loans 26 54 136 108 Net gain (loss) from fair value adjustments 57 294 ( 777 ) 2,913 Federal Home Loan Bank of New York stock dividends 669 534 1,412 1,231 Life insurance proceeds — 561 — 561 Bank owned life insurance 1,223 1,134 2,423 2,243 Other income 658 663 1,129 1,630 Total non-interest income (loss) 4,216 5,020 7,300 11,877 Non-interest expense Salaries and employee benefits 21,723 19,690 43,836 42,252 Occupancy and equipment 3,713 3,534 7,492 7,327 Professional services 2,786 2,291 5,578 4,552 FDIC deposit insurance 1,322 943 2,974 1,920 Data processing 1,785 1,473 3,512 2,908 Depreciation and amortization of bank premises and equipment 1,425 1,482 2,882 2,992 Other real estate owned / foreclosure expense

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statements of Comprehensive Income (Unaudited) For the three months ended For the six months ended June 30, June 30, 2024 2023 2024 2023 (In thousands) Net income $ 5,322 $ 8,686 $ 9,006 $ 12,730 Other comprehensive income (loss), net of tax: Amortization of actuarial (gains) losses, net of taxes of $ 29 and $ 31 , respectively, and of $ 58 and $ 62 , respectively. ( 63 ) ( 69 ) ( 126 ) ( 138 ) Change in net unrealized gains (losses) on securities available for sale, net of taxes of $ 898 and $ 1,977 , respectively, and of $ 975 and $ 93 , respectively. ( 1,994 ) ( 4,404 ) ( 2,166 ) ( 417 ) Net unrealized gains (losses) on cashflow hedges, net of taxes of $ 634 and ($ 2,836 ), respectively, and of ($ 763 ) and ($ 492 ), respectively. ( 1,408 ) 6,319 1,693 1,179 Change in fair value of liabilities related to instrument-specific credit risk, net of taxes of $ 15 and $ 36 , respectively and of $ 29 and $ 69 , respectively. ( 35 ) ( 81 ) ( 66 ) ( 155 ) Other comprehensive income (loss), net of tax: ( 3,500 ) 1,765 ( 665 ) 469 Comprehensive net income $ 1,822 $ 10,451 $ 8,341 $ 13,199 The accompanying notes are an integral part of these consolidated financial statements. -3- Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statement of Changes in Stockholders' Equity (Unaudited) Additional Accumulated Other Shares Common Paid-in Treasury Retained Comprehensive (Dollars in thousands, except per share data) Outstanding Stock Capital Stock Earnings Income (Loss) Total Balance at December 31, 2023 28,865,810 $ 341 $ 264,534 $ ( 106,070 ) $ 549,683 $ ( 38,651 ) $ 669,837 Net income — — — — 3,684 — 3,684 Vesting of restricted stock unit awards 301,319 — ( 5,811 ) 6,111 ( 300 ) — — Stock-based compensation expense — — 1,690 — — — 1,690 Repurchase of shares to satisfy tax obligation ( 98,573 ) — — ( 1,682 ) — — ( 1,682 ) Dividends on common stock ($ 0.22 per share) — — — — ( 6,537 ) — ( 6,537 ) Other comprehensive income (loss) — — — — — 2,835 2,835 Balance at March 31, 2024 29,068,556 $ 341 $ 260,413 $ ( 101,641 ) $ 546,530 $ ( 35,816 ) $ 669,827 Net income — — — — 5,322 — 5,322 Vesting of restricted stock unit awards 500 — ( 5 ) 10 ( 5 ) — — Stock-based compensation expense — — 177 — — — 177 Repurchase of shares to satisfy tax obligation ( 176 ) — — ( 2 ) — — ( 2 ) Dividends on common stock ($ 0.22 per share) — — — — ( 6,502 ) — ( 6,502 ) Other comprehensive income (loss) — — — — — ( 3,500 ) ( 3,500 ) Balance at June 30, 2024 29,068,880 $ 341 $ 260,585 $ ( 101,633 ) $ 545,345 $ ( 39,316 ) $ 665,322 Additional Accumulated Other Shares Common Paid-in Treasury Retained Comprehensive (Dollars in thousands, except per share data) Outstanding Stock Capital Stock Earnings Income (Loss) Total Balance at December 31, 2022 29,476,391 $ 341 $ 264,332 $ ( 98,535 ) $ 547,507 $ ( 36,488 ) $ 677,157 Net income — — — — 4,044 — 4,044 Vesting of restricted stock unit awards 256,

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statements of Cash Flows (Unaudited) For the six months ended June 30, 2024 2023 (In thousands) Operating Activities Net income $ 9,006 $ 12,730 Adjustments to reconcile net income to net cash provided by operating activities: Provision (benefit) for credit losses 1,401 8,924 Depreciation and amortization of premises and equipment 2,882 2,992 Net (loss) gain on sales of loans ( 136 ) ( 108 ) Net amortization (accretion) of premiums and discounts 2,072 1,876 Deferred income tax provision (benefit) ( 176 ) 3,139 Net (gain) loss from fair value adjustments 777 ( 2,913 ) Net (gain) loss from fair value adjustments of hedges 726 105 Gain from life insurance proceeds — ( 561 ) Bank owned life insurance ( 2,423 ) ( 2,243 ) Stock-based compensation expense 1,867 4,706 Deferred compensation ( 1,357 ) ( 2,309 ) Amortization of core deposit intangibles 215 248 (Increase) decrease in other assets ( 8,067 ) ( 16,940 ) Increase (decrease) in other liabilities ( 3,446 ) ( 8,705 ) Net cash provided by (used in) operating activities 3,341 941 Investing Activities Purchases of premises and equipment ( 1,066 ) ( 3,424 ) Purchases of Federal Home Loan Bank New York stock ( 22,627 ) ( 79,799 ) Redemptions of Federal Home Loan Bank New York stock 7,362 89,473 Proceeds from prepayments of securities held-to-maturity 906 395 Purchases of securities available for sale ( 826,964 ) ( 151,860 ) Proceeds from sales and calls of securities available for sale 53,528 - Proceeds from maturities and prepayments of securities available for sale 93,108 31,292 Change in cash collateral 9,410 6,910 Net repayments (originations) of loans 209,229 171,297 Purchases of loans ( 96,691 ) ( 84,040 ) Proceeds from sale of loans originally classified as held to investment 4,500 7,042 Net cas

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES Consolidated Statements of Cash Flows (Contd.) (Unaudited) For the six months ended June 30, 2024 2023 (In thousands) Financing Activities Net increase (decrease) in noninterest-bearing deposits $ ( 22,089 ) $ ( 93,418 ) Net increase (decrease) in interest-bearing deposits 105,962 321,819 Net increase (decrease) in mortgagors' escrow deposits 7,320 9,658 Net (repayments) proceeds from short-term borrowed funds 474,250 ( 316,200 ) Proceeds from long-term borrowing 200,000 162,029 Repayment of long-term borrowings ( 200,000 ) ( 39,001 ) Purchase of treasury shares — ( 9,894 ) Repurchase of shares to satisfy tax obligations ( 1,684 ) ( 1,664 ) Cash dividends paid ( 13,039 ) ( 13,257 ) Net cash provided by (used in) financing activities 550,720 20,072 Net increase (decrease) in cash and cash equivalents, and restricted cash ( 15,244 ) 8,299 Cash, cash equivalents, and restricted cash, beginning of period 172,157 151,754 Cash, cash equivalents, and restricted cash, end of period $ 156,913 $ 160,053 Supplemental Cash Flow Disclosure Interest paid $ 133,714 $ 96,476 Income taxes paid 4,536 6,082 Transfer of loans held for investment to other real estate owned 665 — Transfer of loans held for investment to held for sale 4,174 6,560 Securities purchased not yet settled — 20,000 The accompanying notes are an integral part of these consolidated financial statements. -6- Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) 1. Basis of Presentation The primary business of Flushing Financial Corporation (the "Company"), a Delaware corporation, is the operation of its wholly owned subsidiary, Flushing Bank (the "Bank"). The unaudited consolidated financial statements presented in this Quarterly Report on Form 10-Q ("Quarterly Report") include the collective results of the Company and its direct and indirect wholly owned subsidiaries, including the Bank, Flushing Service Corporation and FSB Properties Inc., which are collectively herein referred to as "we," "us," "our" and the "Company." The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III, and Flushing Financial Capital Trust IV (the "Trusts"), which are special purpose business trusts. The Trusts are not included in the Company's consolidated financial statements, as the Company would not absorb the losses of the Trusts if any losses were to occur. The accompanying unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and general practices within the banking industry. The information furnished in these interim statements reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for such presented periods of the Company. Such adjustments are of a normal recurring nature, unless otherwise disclosed in this Quarterly Report. All inter-company balances and transactions have been eliminated in consolidation. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited consolidated financial statements have been prepared in conformity with the instructions to Quarterly Report on Form 10-Q and Article 10, Rule 10-01 of Regulation S-X for interim financial statements. Accordingly, ce

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) 3. Earnings Per Share Earnings per common share have been computed based on the following: For the three months ended For the six months ended June 30, June 30, 2024 2023 2024 2023 (In thousands, except per share data) Net income, as reported $ 5,322 $ 8,686 $ 9,006 $ 12,730 Divided by: Total weighted average common shares outstanding and common stock equivalents 29,789 30,090 29,766 30,177 Basic earnings per common share $ 0.18 $ 0.29 $ 0.30 $ 0.42 Diluted earnings per common share $ 0.18 $ 0.29 $ 0.30 $ 0.42 Dividend Payout ratio 122.2 % 75.9 % 146.7 % 104.8 % 4. Securities The following table summarizes the Company's portfolio of securities held-to-maturity on June 30, 2024: Gross Gross Amortized Unrecognized Unrecognized Cost Fair Value Gains Losses (In thousands) Municipals $ 65,255 $ 54,153 $ — $ ( 11,102 ) Total municipals 65,255 54,153 — ( 11,102 ) FNMA 7,846 6,917 — ( 929 ) Total mortgage-backed securities 7,846 6,917 — ( 929 ) Total before allowance for credit losses 73,101 $ 61,070 $ — $ ( 12,031 ) Allowance for credit losses ( 1,089 ) Total $ 72,012 -8- Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) The following table summarizes the Company's portfolio of securities held-to-maturity on December 31, 2023: Gross Gross Amortized Unrecognized Unrecognized Cost Fair Value Gains Losses (In thousands) Municipals $ 66,155 $ 58,697 $ — $ ( 7,458 ) Total municipals 66,155 58,697 — ( 7,458 ) FNMA 7,855 7,058 — ( 797 ) Total mortgage-backed securities 7,855 7,058 — ( 797 ) Total before allowance for credit losses 74,010 $ 65,755 $ — $ ( 8,255 ) Allowance for credit losses ( 1,087 ) Total $ 72,923 The following table summarizes the Company's portfolio of securities available for sale on June 30, 2024: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) U.S. government agencies $ 31,073 $ 30,678 $ 122 $ ( 517 ) Corporate 177,234 158,759 24 ( 18,499 ) Mutual funds 11,655 11,655 — — Collateralized loan obligations 475,134 476,568 1,883 ( 449 ) Other 1,457 1,457 — — Total other securities 696,553 679,117 2,029 ( 19,465 ) REMIC and CMO 678,425 649,262 280 ( 29,443 ) GNMA 26,250 24,248 1 ( 2,003 ) FNMA 148,928 125,740 4 ( 23,192 ) FHLMC 86,203 70,244 — ( 15,959 ) Total mortgage-backed securities 939,806 869,494 285 ( 70,597 ) Total Securities excluding portfolio layer adjustments 1,636,359 1,548,611 2,314 ( 90,062 ) Unallocated portfolio layer basis adjustments (1) ( 5,195 ) n/a — 5,195 Total securities available for sale $ 1,631,164 $ 1,548,611 $ 2,314 $ ( 84,867 ) (1) Represents the amount of portfolio layer method basis adjustments related to available for sale ("AFS") securities hedged in a closed portfolio. Under GAAP portfolio layer method basis adjustments are not allocated to individual securities, however, the amounts impact the unrealized gains or losses for the individual securities being h

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) The following table summarizes the Company's portfolio of securities available for sale on December 31, 2023: Gross Gross Amortized Unrealized Unrealized Cost Fair Value Gains Losses (In thousands) U.S. government agencies $ 82,548 $ 81,734 $ 123 $ ( 937 ) Corporate 173,184 155,449 — ( 17,735 ) Mutual funds 11,660 11,660 — — Collateralized loan obligations 269,600 270,129 1,215 ( 686 ) Other 1,437 1,437 — — Total other securities 538,429 520,409 1,338 ( 19,358 ) REMIC and CMO 160,165 133,574 — ( 26,591 ) GNMA 12,402 10,665 3 ( 1,740 ) FNMA 155,995 135,074 14 ( 20,935 ) FHLMC 89,427 75,031 — ( 14,396 ) Total mortgage-backed securities 417,989 354,344 17 ( 63,662 ) Total Securities excluding portfolio layer adjustments 956,418 874,753 1,355 ( 83,020 ) Unallocated portfolio layer basis adjustments (1) ( 2,254 ) n/a — 2,254 Total securities available for sale $ 954,164 $ 874,753 $ 1,355 $ ( 80,766 ) (1) Represents the amount of portfolio layer method basis adjustments related to AFS securities hedged in a closed portfolio. Under GAAP portfolio layer method basis adjustments are not allocated to individual securities, however, the amounts impact the unrealized gains or losses for the individual securities being hedged. See Note 11 ("Derivative Financial Instruments") of the Notes to the Consolidated Financial Statements. The corporate securities held by the Company at June 30, 2024 and December 31, 2023, are issued by U.S. banking institutions. The CMOs held by the Company at June 30, 2024 and December 31, 2023, are either fully guaranteed or issued by a government sponsored enterprise. The following tables detail the amortized cost and fair value of the Company's securities classified as held-to-maturity and available for sale at June 30, 2024, by contractual maturity. Expected maturi

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) Amortized Securities available for sale: Cost Fair Value (In thousands) Due in one year or less $ 29,927 $ 29,291 Due after one year through five years 75,188 70,119 Due after five years through ten years 192,898 180,115 Due after ten years 386,885 387,937 Total other securities 684,898 667,462 Mutual funds 11,655 11,655 Mortgage-backed securities 939,806 869,494 Total securities available for sale (1) $ 1,636,359 $ 1,548,611 (1) The table above excludes the unallocated portfolio layer basis adjustments totaling $ 5.2 million related to AFS securities hedged in a closed portfolio at June 30, 2024. See Note 11 ("Derivative Financial Instruments") of the Notes to the Consolidated Financial Statements. The following tables show the Company's securities with gross unrealized losses and their fair value, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position, at the dates indicated: At June 30, 2024 Total Less than 12 months 12 months or more Unrealized Unrealized Unrealized Count Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in thousands) Held-to-maturity securities Municipals 3 $ 54,153 $ ( 11,102 ) $ — $ — $ 54,153 $ ( 11,102 ) Total other securities 3 54,153 ( 11,102 ) — — 54,153 ( 11,102 ) FNMA 1 6,917 ( 929 ) — — 6,917 ( 929 ) Total mortgage-backed securities 1 6,917 ( 929 ) — — 6,917 ( 929 ) Total 4 $ 61,070 $ ( 12,031 ) $ — $ — $ 61,070 $ ( 12,031 ) Available for sale securities (1) U.S. Government Agencies 5 $ 24,221 $ ( 517 ) $ — $ — $ 24,221 $ ( 517 ) Corporate 26 149,736 ( 18,499 ) 6,372 ( 43 ) 143,364 ( 18,456 ) Collateralized loan obligations 18 184,599 ( 449 ) 174,602 ( 446 ) 9,997 ( 3 ) Total other securities 49 358,556 ( 19,465 )

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