SECURITIES (Tables)

9 Months Ended

Sep. 30, 2018

SECURITIES

Schedule of amortized cost and fair value of the available for sale and held to maturity

	September 30, 2018
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for sale:
U.S. GSE securities	$	29,997	$	—	$	(1,453)	$	28,544
State and municipal obligations		35,772		40		(640)		35,172
U.S. GSE residential mortgage-backed securities		96,967		5		(4,242)		92,730
U.S. GSE residential collateralized mortgage obligations		356,644		—		(11,335)		345,309
U.S. GSE commercial mortgage-backed securities		3,560		—		(80)		3,480
U.S. GSE commercial collateralized mortgage obligations		93,875		—		(3,206)		90,669
Other asset backed securities		24,250		—		(728)		23,522
Corporate bonds		46,000		—		(3,564)		42,436
Total available for sale		687,065		45		(25,248)		661,862
Held to maturity:
State and municipal obligations		55,828		327		(664)		55,491
U.S. GSE residential mortgage-backed securities		10,042		—		(481)		9,561
U.S. GSE residential collateralized mortgage obligations		49,470		22		(1,766)		47,726
U.S. GSE commercial mortgage-backed securities		19,285		—		(973)		18,312
U.S. GSE commercial collateralized mortgage obligations		29,813		—		(1,659)		28,154
Total held to maturity		164,438		349		(5,543)		159,244
Total securities	$	851,503	$	394	$	(30,791)	$	821,106

	December 31, 2017
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for sale:
U.S. GSE securities	$	57,994	$	—	$	(1,180)	$	56,814
State and municipal obligations		87,582		259		(819)		87,022
U.S. GSE residential mortgage-backed securities		189,705		29		(2,833)		186,901
U.S. GSE residential collateralized mortgage obligations		314,390		16		(7,016)		307,390
U.S. GSE commercial mortgage-backed securities		6,017		2		(40)		5,979
U.S. GSE commercial collateralized mortgage obligations		49,965		—		(1,249)		48,716
Other asset backed securities		24,250		—		(849)		23,401
Corporate bonds		46,000		—		(2,307)		43,693
Total available for sale		775,903		306		(16,293)		759,916
Held to maturity:
State and municipal obligations		60,762		972		(64)		61,670
U.S. GSE residential mortgage-backed securities		11,424		—		(261)		11,163
U.S. GSE residential collateralized mortgage obligations		54,250		244		(666)		53,828
U.S. GSE commercial mortgage-backed securities		22,953		77		(438)		22,592
U.S. GSE commercial collateralized mortgage obligations		31,477		—		(845)		30,632
Total held to maturity		180,866		1,293		(2,274)		179,885
Total securities	$	956,769	$	1,599	$	(18,567)	$	939,801

Schedule of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio

	September 30, 2018
			Estimated
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	8,494	$	8,460
One to five years		28,236		27,372
Five to ten years		83,273		78,442
Beyond ten years		567,062		547,588
Total	$	687,065	$	661,862
Held to maturity:
Within one year	$	1,941	$	1,937
One to five years		29,223		28,950
Five to ten years		50,267		49,105
Beyond ten years		83,007		79,252
Total	$	164,438	$	159,244

Schedule of securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months

	September 30, 2018
	Less than 12 months				Greater than 12 months
	Estimated		Gross		Estimated		Gross
	Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses
Available for sale:
U.S. GSE securities	$	—	$	—	$	28,544	$	(1,453)
State and municipal obligations		16,037		(190)		15,948		(450)
U.S. GSE residential mortgage-backed securities		14,098		(640)		77,169		(3,602)
U.S. GSE residential collateralized mortgage obligations		192,703		(2,953)		152,607		(8,382)
U.S. GSE commercial mortgage-backed securities		3,480		(80)		—		—
U.S. GSE commercial collateralized mortgage obligations		46,569		(814)		44,099		(2,392)
Other asset backed securities		—		—		23,522		(728)
Corporate bonds		—		—		42,435		(3,564)
Total available for sale	$	272,887	$	(4,677)	$	384,324	$	(20,571)
Held to maturity:
State and municipal obligations	$	28,515	$	(564)	$	2,466	$	(100)
U.S. GSE residential mortgage-backed securities		—		—		9,561		(481)
U.S. GSE residential collateralized mortgage obligations		16,116		(527)		28,963		(1,239)
U.S. GSE commercial mortgage-backed securities		5,946		(138)		12,366		(835)
U.S. GSE commercial collateralized mortgage obligations		58		—		28,096		(1,659)
Total held to maturity	$	50,635	$	(1,229)	$	81,452	$	(4,314)

	December 31, 2017
	Less than 12 months				Greater than 12 months
	Estimated		Gross		Estimated		Gross
	Fair		Unrealized		Fair		Unrealized
(In thousands)	Value		Losses		Value		Losses
Available for sale:
U.S. GSE securities	$	—	$	—	$	56,815	$	(1,180)
State and municipal obligations		35,350		(301)		28,165		(518)
U.S. GSE residential mortgage-backed securities		107,408		(1,153)		69,571		(1,680)
U.S. GSE residential collateralized mortgage obligations		77,705		(759)		224,932		(6,257)
U.S. GSE commercial mortgage-backed securities		2,345		(40)		—		—
U.S. GSE commercial collateralized mortgage obligations		452		(1)		48,264		(1,248)
Other asset backed securities		—		—		23,401		(849)
Corporate bonds		13,588		(412)		30,105		(1,895)
Total available for sale	$	236,848	$	(2,666)	$	481,253	$	(13,627)
Held to maturity:
State and municipal obligations	$	7,709	$	(57)	$	1,009	$	(7)
U.S. GSE residential mortgage-backed securities		1,359		(16)		9,804		(245)
U.S. GSE residential collateralized mortgage obligations		21,329		(94)		21,112		(572)
U.S. GSE commercial mortgage-backed securities		8,789		(121)		8,303		(317)
U.S. GSE commercial collateralized mortgage obligations		10,341		(116)		20,290		(729)
Total held to maturity	$	49,527	$	(404)	$	60,518	$	(1,870)