SECURITIES (Tables)

3 Months Ended

Mar. 31, 2014

SECURITIES

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

	March 31, 2014
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	133,504	$	52	$	(6,776	)	$	126,780
State and municipal obligations	66,401		515		(540		)	66,376
U.S. GSE residential mortgage-backed securities	57,820		44		(443		)	57,421
U.S. GSE residential collateralized mortgage obligations	271,898		239		(5,434		)	266,703
U.S. GSE commercial mortgage-backed securities	3,061		—		(169		)	2,892
U.S. GSE commercial collateralized mortgage obligations	32,760		166		(81		)	32,845
Non Agency commercial mortgage-backed securities	817		—		(24		)	793
Other Asset backed securities	57,715		45		(1,843		)	55,917
Corporate Bonds	16,989		53		(37		)	17,005
Total available for sale	640,965		1,114		(15,347		)	626,732
Held to maturity:
U.S. GSE securities	11,261		—		(141		)	11,120
State and municipal obligations	66,790		1,057		(22		)	67,825
U.S. GSE residential mortgage-backed securities	7,599		—		(237		)	7,362
U.S. GSE residential collateralized mortgage obligations	65,831		510		(2,922		)	63,419
U.S. GSE commercial mortgage-backed securities	10,082		—		(208		)	9,874
U.S. GSE commercial collateralized mortgage obligations	31,580		291		(637		)	31,234
Corporate Bonds	22,900		136		(26		)	23,010
Total held to maturity	216,043		1,994		(4,193		)	213,844
Total securities	$	857,008	$	3,108	$	(19,540	)	$	840,576

	December 31, 2013
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	164,278	$	15	$	(11,536	)	$	152,757
State and municipal obligations	62,141		602		(1,087		)	61,656
U.S. GSE residential mortgage-backed securities	14,609		36		(210		)	14,435
U.S. GSE residential collateralized mortgage obligations	285,595		559		(6,963		)	279,191
U.S. GSE commercial mortgage-backed securities	3,076		—		(242		)	2,834
U.S. GSE commercial collateralized mortgage obligations	26,740		194		(24		)	26,910
Non Agency commercial mortgage-backed securities	3,658		—		(80		)	3,578
Other Asset backed securities	34,970		42		(1,194		)	33,818
Total available for sale	595,067		1,448		(21,336		)	575,179
Held to maturity:
U.S. GSE securities	11,254		—		(375		)	10,879
State and municipal obligations	67,232		863		(179		)	67,916
U.S. GSE residential mortgage-backed securities	8,001		—		(312		)	7,689
U.S. GSE residential collateralized mortgage obligations	68,197		537		(3,655		)	65,079
U.S. GSE commercial mortgage-backed securities	10,132		—		(356		)	9,776
U.S. GSE commercial collateralized mortgage obligations	13,627		—		(706		)	12,921
Corporate Bonds	22,885		203		(9		)	23,079
Total held to maturity	201,328		1,603		(5,592		)	197,339
Total securities	$	796,395	$	3,051	$	(26,928	)	$	772,518

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

	March 31, 2014
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	14,922	$	15,013
One to five years	36,688		36,947
Five to ten years	151,739		146,035
Beyond ten years	437,616		428,737
Total	$	640,965	$	626,732
Held to maturity:
Within one year	$	27,107	$	27,163
One to five years	42,301		42,397
Five to ten years	34,537		34,873
Beyond ten years	112,098		109,411
Total	$	216,043	$	213,844

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, 2014			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	94,284	$	4,516	$	29,326	$	2,260
State and municipal obligations	21,355		521		982		19
U.S. GSE residential mortgage-backed securities	46,371		443		—		—
U.S. GSE residential collateralized mortgage obligations	185,751		4,281		29,695		1,153
U.S. GSE commercial mortgage-backed securities	2,892		169		—		—
U.S. GSE commercial collateralized mortgage obligations	18,793		81		—		—
Non Agency commercial mortgage-backed securities	793		24		—		—
Other Asset backed securities	51,190		1,843		—		—
Corporate Bonds	4,084		37		—		—
Total available for sale	425,513		11,915		60,003		3,432
Held to maturity:
U.S. GSE securities	11,121		141		—		—
State and municipal obligations	10,403		21		205		1
U.S. GSE residential mortgage-backed securities	7,362		237		—		—
U.S. GSE residential collateralized mortgage obligations	27,190		1,721		17,779		1,201
U.S. GSE commercial mortgage-backed securities	9,874		208		—		—
U.S. GSE commercial collateralized mortgage obligations	20,787		637		—		—
Corporate Bonds	8,976		24		998		2
Total held to maturity	$	95,713	$	2,989	$	18,982	$	1,204

	Less than 12 months				Greater than 12 months
December 31, 2013			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	128,468	$	8,915	$	23,966	$	2,621
State and municipal obligations	23,765		1,046		966		41
U.S. GSE residential mortgage-backed securities	10,410		210		—		—
U.S. GSE residential collateralized mortgage obligations	218,415		6,476		12,757		487
U.S. GSE commercial mortgage-backed securities	2,834		242		—		—
U.S. GSE commercial collateralized mortgage obligations	4,912		24		—		—
Non Agency commercial mortgage-backed securities	3,578		80		—		—
Other Asset backed securities	21,144		1,103		2,906		91
Total available for sale	413,526		18,096		40,595		3,240
Held to maturity:
U.S. GSE securities	10,879		375		—		—
State and municipal obligations	24,079		178		385		1
U.S. GSE residential mortgage-backed securities	7,689		312		—		—
U.S. GSE residential collateralized mortgage obligations	29,570		2,169		17,752		1,486
U.S. GSE commercial mortgage-backed securities	9,776		356		—		—
U.S. GSE commercial collateralized mortgage obligations	12,921		706		—		—
Corporate Bonds	1,993		7		999		2
Total held to maturity	$	96,907	$	4,103	$	19,136	$	1,489