SECURITIES (Tables)

9 Months Ended

Sep. 30, 2013

SECURITIES

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

	September 30, 2013
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	157,086	$	19	$	(8,481	)	$	148,624
State and municipal obligations	56,532		613		(803		)	56,342
U.S. GSE residential mortgage-backed securities	15,318		112		(129		)	15,301
U.S. GSE residential collateralized mortgage obligations	228,834		806		(4,994		)	224,646
U.S. GSE commercial mortgage-backed securities	3,090		—		(108		)	2,982
U.S. GSE commercial collateralized mortgage obligations	5,114		54		—			5,168
Non Agency commercial mortgage-backed securities	3,749		—		(105		)	3,644
Other Asset backed securities	33,272		60		(1,375		)	31,957
Total available for sale	502,995		1,664		(15,995		)	488,664
Held to maturity:
U.S. GSE securities	7,442		—		(131		)	7,311
State and municipal obligations	64,451		1,067		(149		)	65,369
U.S. GSE residential mortgage-backed securities	8,222		—		(212		)	8,010
U.S. GSE residential collateralized mortgage obligations	70,842		567		(2,708		)	68,701
U.S. GSE commercial mortgage-backed securities	10,181		—		(302		)	9,879
U.S. GSE commercial collateralized mortgage obligations	13,615		37		(470		)	13,182
Corporate Bonds	22,869		156		(62		)	22,963
Total held to maturity	197,622		1,827		(4,034		)	195,415
Total securities	$	700,617	$	3,491	$	(20,029	)	$	684,079

	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

	September 30, 2013
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	5,707	$	5,751
One to five years	64,269		64,099
Five to ten years	143,669		137,259
Beyond ten years	289,350		281,555
Total	$	502,995	$	488,664
Held to maturity:
Within one year	$	24,367	$	24,516
One to five years	35,388		35,551
Five to ten years	31,553		31,512
Beyond ten years	106,314		103,836
Total	$	197,622	$	195,415

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
September 30, 2013			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	148,255	$	8,481	$	—	$	—
State and municipal obligations	20,756		765		2,422		38
U.S. GSE residential mortgage-backed securities	5,854		129		—		—
U.S. GSE residential collateralized mortgage obligations	162,405		4,683		8,888		311
U.S. GSE commercial mortgage-backed securities	2,982		108		—		—
Non Agency commercial mortgage-backed securities	3,643		105		—		—
Other Asset backed securities	21,206		1,280		2,902		95
Total available for sale	365,101		15,551		14,212		444
Held to maturity:
U.S. GSE securities	7,311		131		—		—
State and municipal obligations	11,345		146		573		3
U.S. GSE residential mortgage-backed securities	8,011		212		—		—
U.S. GSE residential collateralized mortgage obligations	29,596		1,746		16,963		962
U.S. GSE commercial mortgage-backed securities	9,879		302		—		—
U.S. GSE commercial collateralized mortgage obligations	8,493		470		—		—
Corporate Bonds	4,960		40		3,978		22
Total held to maturity	$	79,595	$	3,047	$	21,514	$	987

	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