SECURITIES (Tables)

6 Months Ended

Jun. 30, 2013

SECURITIES

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

	June 30, 2013
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	166,126	$	22	$	(7,350	)	$	158,798
State and municipal obligations	59,047		623		(720		)	58,950
U.S. GSE residential mortgage-backed securities	21,129		373		(142		)	21,360
U.S. GSE residential collateralized mortgage obligations	271,514		1,407		(3,851		)	269,070
U.S. GSE commercial mortgage-backed securities	3,104		—		(99		)	3,005
U.S. GSE commercial collateralized mortgage obligations (1)	5,120		82		—			5,202
Non Agency commercial mortgage-backed securities	4,402		—		(143		)	4,259
Other Asset backed securities	31,129		182		(1,005		)	30,306
Total available for sale	561,571		2,689		(13,310		)	550,950
Held to maturity:
U.S. GSE securities	7,439		—		(154		)	7,285
State and municipal obligations	61,954		1,038		(131		)	62,861
U.S. GSE residential mortgage-backed securities	8,632		—		(266		)	8,366
U.S. GSE residential collateralized mortgage obligations	71,839		578		(1,904		)	70,513
U.S. GSE commercial mortgage-backed securities	10,228		76		(193		)	10,111
U.S. GSE commercial collateralized mortgage obligations	8,962		—		(314		)	8,648
Corporate Bonds	22,853		203		(28		)	23,028
Total held to maturity	191,907		1,895		(2,990		)	190,812
Total securities	$	753,478	$	4,584	$	(16,300	)	$	741,762

	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

	June 30, 2013
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	7,622	$	7,690
One to five years	72,230		71,727
Five to ten years	152,293		146,821
Beyond ten years	329,426		324,712
Total	$	561,571	$	550,950
Held to maturity:
Within one year	$	22,167	$	22,317
One to five years	37,225		37,443
Five to ten years	29,525		29,663
Beyond ten years	102,990		101,389
Total	$	191,907	$	190,812

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
June 30, 2013			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	158,365	$	7,350	$	—	$	—
State and municipal obligations	27,482		672		2,551		48
U.S. GSE residential mortgage-backed securities	6,224		142		—		—
U.S. GSE residential collateralized mortgage obligations	177,309		3,761		5,144		90
U.S. GSE commercial mortgage-backed securities	3,006		99		—		—
Non Agency commercial mortgage-backed securities	4,259		143		—		—
Other Asset backed securities	14,661		881		2,873		124
Total available for sale	391,306		13,048		10,568		262
Held to maturity:
U.S. GSE securities	7,285		154		—		—
State and municipal obligations	11,499		131		—		—
U.S. GSE residential mortgage-backed securities	8,366		266		—		—
U.S. GSE residential collateralized mortgage obligations	43,156		1,904		—		—
U.S. GSE commercial mortgage-backed securities	4,174		193		—		—
U.S. GSE commercial collateralized mortgage obligations	8,648		314		—		—
Corporate Bonds	1,986		14		3,986		14
Total held to maturity	$	85,114	$	2,976	$	3,986	$	14

	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