SECURITIES (Tables)

3 Months Ended

Mar. 31, 2013

SECURITIES

Summary of the Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity

	March 31, 2013
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	136,604	$	168	$	(381	)	$	136,391
State and municipal obligations	49,212		901		(20		)	50,093
U.S. GSE residential mortgage-backed securities	22,561		1,023		(7		)	23,577
U.S. GSE residential collateralized mortgage obligations	215,179		2,351		(593		)	216,937
U.S. GSE commercial mortgage-backed securities	3,118		—		(7		)	3,111
U.S. GSE commercial collateralized mortgage obligations	5,128		214		—			5,342
Non Agency commercial mortgage-backed securities	4,490		—		(132		)	4,358
Other Asset backed securities	15,638		103		(86		)	15,655
Total available for sale	451,930		4,760		(1,226		)	455,464
Held to maturity:
State and municipal obligations	96,143		2,085		(11		)	98,217
U.S. GSE residential mortgage-backed securities	9,055		—		(33		)	9,022
U.S. GSE residential collateralized mortgage obligations	53,028		691		(469		)	53,250
U.S. GSE commercial mortgage-backed securities	10,275		273		—			10,548
U.S. GSE commercial collateralized mortgage obligations	4,976		268		—			5,244
Corporate Bonds	22,837		205		(216		)	22,826
Total held to maturity	196,314		3,522		(729		)	199,107
Total securities	$	648,244	$	8,282	$	(1,955	)	$	654,571

	December 31, 2012
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	178,421	$	377	$	(346	)	$	178,452
State and municipal obligations	58,867		1,132		(36		)	59,963
U.S. GSE residential mortgage-backed securities	19,462		1,135		—			20,597
U.S. GSE residential collateralized mortgage obligations	224,226		2,762		(542		)	226,446
U.S. GSE commercial mortgage-backed securities	3,132		6		—			3,138
U.S. GSE commercial collateralized mortgage obligations	9,079		278		—			9,357
Non Agency commercial mortgage-backed securities	4,754		235		—			4,989
Other Asset backed securities	26,588		65		(525		)	26,128
Total available for sale	524,529		5,990		(1,449		)	529,070
Held to maturity:
U.S. GSE securities	4,992		24		—			5,016
State and municipal obligations	98,752		2,241		(31		)	100,962
U.S. GSE residential mortgage-backed securities	9,483		26		—			9,509
U.S. GSE residential collateralized mortgage obligations	59,388		704		(404		)	59,688
U.S. GSE commercial mortgage-backed securities	10,324		350		—			10,674
U.S. GSE commercial collateralized mortgage obligations	4,975		254		—			5,229
Corporate Bonds	22,821		134		(331		)	22,624
Total held to maturity	210,735		3,733		(766		)	213,702
Total securities	$	735,264	$	9,723	$	(2,215	)	$	742,772

Summary of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity

	March 31, 2013
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	11,391	$	11,412
One to five years	36,845		37,744
Five to ten years	153,264		153,603
Beyond ten years	250,430		252,705
Total	$	451,930	$	455,464
Held to maturity:
Within one year	$	47,991	$	48,012
One to five years	47,841		48,216
Five to ten years	19,075		19,994
Beyond ten years	81,407		82,885
Total	$	196,314	$	199,107

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

	Less than 12 months				Greater than 12 months
March 31, 2013			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	85,313	$	381	$	—	$	—
State and municipal obligations	8,717		15		1,817		5
U.S. GSE residential mortgage-backed securities	3,259		7		—		—
U.S. GSE residential collateralized mortgage obligations	67,922		514		5,190		79
U.S. GSE commercial mortgage-backed securities	3,111		7		—		—
Non Agency commercial mortgage-backed securities	4,358		132		—		—
Other Asset backed securities	2,910		86		—		—
Total available for sale	175,590		1,142		7,007		84
Held to maturity:
State and municipal obligations	17,239		11		—		—
U.S. GSE residential mortgage-backed securities	9,022		33		—		—
U.S. GSE residential collateralized mortgage obligations	33,718		469		—		—
Corporate Bonds	—		—		10,784		216
Total held to maturity	$	59,979	$	513	$	10,784	$	216

	Less than 12 months				Greater than 12 months
December 31, 2012			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	79,692	$	346	$	—	$	—
State and municipal obligations	13,878		36		226		—
U.S. GSE residential mortgage-backed securities	90		—		—		—
U.S. GSE residential collateralized mortgage obligations	65,961		542		—		—
Other Asset backed securities	18,109		525		—		—
Total available for sale	177,730		1,449		226		—
Held to maturity:
State and municipal obligations	28,939		31		—		—
U.S. GSE residential collateralized mortgage obligations	41,563		404		—		—
Corporate Bonds	—		—		17,669		331
Total held to maturity	$	70,502	$	435	$	17,669	$	331