SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of securities available for sale ("AFS") and held to maturity

The following is a summary of securities available for sale:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises	$	6,923	$	53	$	—	$	6,976
Mortgage-backed securities:
US Government-sponsored enterprises	463,878		2,993		5,050		461,821
US Government agency	82,371		748		670		82,449
Private label	838		193		10		1,021
Obligations of states and political subdivisions thereof	149,123		2,534		3,034		148,623
Corporate bonds	23,244		112		22		23,334
Total securities available for sale	$	726,377	$	6,633	$	8,786	$	724,224
December 31, 2016
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises	$	—	$	—	$	—	$	—
Mortgage-backed securities:
US Government-sponsored enterprises	330,635		2,682		4,865		328,452
US Government agency	76,722		797		613		76,906
Private label	936		207		11		1,132
Obligations of states and political subdivisions thereof	123,832		1,941		3,407		122,366
Corporate bonds	—		—		—		—
Total securities available for sale	$	532,125	$	5,627	$	8,896	$	528,856

Schedule of amortized cost and estimated fair value of available for sale (AFS) and held to maturity (HTM) securities, segregated by contractual maturity

The amortized cost and estimated fair value of available for sale (“AFS”) securities segregated by contractual maturity at March 31, 2017 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable.

	Available for sale
	Amortized		Fair
(In thousands)	Cost		Value
Within 1 year	$	69	$	70
Over 1 year to 5 years	15,330		15,455
Over 5 years to 10 years	73,845		74,546
Over 10 years	637,133		634,153
Total securities available for sale	$	726,377	$	724,224

Schedule of securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions

Securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows:

	Less Than Twelve Months				Over Twelve Months				Total
(In thousands)	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage-backed securities:
US Government-sponsored enterprises	4,512		215,895		538		13,067		5,050		228,962
US Government agency	521		42,042		149		4,693		670		46,735
Private label	—		—		10		298		10		298
Obligations of states and political subdivisions thereof	2,872		67,691		163		4,463		3,034		72,154
Corporate bonds	22		3,022		—		—		22		3,022
Total securities available for sale	$	7,927	$	328,650	$	860	$	22,521	$	8,786	$	351,171
December 31, 2016
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage-backed securities:
US Government-sponsored enterprises	4,369		197,914		496		10,120		4,865		208,034
US Government agency	472		36,941		141		4,263		613		41,204
Private label	—		107		11		312		11		419
Obligations of states and political subdivisions thereof	3,252		76,803		155		3,916		3,407		80,719
Corporate bonds	—		—		—		—		—		—
Total securities available for sale	$	8,093	$	311,765	$	803	$	18,611	$	8,896	$	330,376

Schedule of other than temporary impairment losses

	Three Months Ended March 31
	2017		2016
Estimated credit losses as of prior year-end	$	1,697	$	3,180
Reductions for securities paid off during the period	—		387
Estimated credit losses at end of the period	$	1,697	$	2,793