SECURITIES (Tables)

6 Months Ended

Jun. 30, 2014

SECURITIES

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

	June 30, 2014
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	125,653	$	106	$	(3,200	)	$	122,559
State and municipal obligations	58,973		447		(271		)	59,149
U.S. GSE residential mortgage-backed securities	55,629		438		(63		)	56,004
U.S. GSE residential collateralized mortgage obligations	290,775		412		(4,165		)	287,022
U.S. GSE commercial mortgage-backed securities	3,046		—		(134		)	2,912
U.S. GSE commercial collateralized mortgage obligations	32,080		178		(58		)	32,200
Other Asset backed securities	49,396		—		(1,095		)	48,301
Corporate Bonds	20,819		107		(6		)	20,920
Total available for sale	636,371		1,688		(8,992		)	629,067
Held to maturity:
U.S. GSE securities	11,268		104		(46		)	11,326
State and municipal obligations	51,504		1,564		(5		)	53,063
U.S. GSE residential mortgage-backed securities	7,342		—		(137		)	7,205
U.S. GSE residential collateralized mortgage obligations	63,812		684		(1,805		)	62,691
U.S. GSE commercial mortgage-backed securities	10,034		39		(87		)	9,986
U.S. GSE commercial collateralized mortgage obligations	38,186		332		(488		)	38,030
Corporate Bonds	22,916		142		(18		)	23,040
Total held to maturity	205,062		2,865		(2,586		)	205,341
Total securities	$	841,433	$	4,553	$	(11,578	)	$	834,408

	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

	June 30, 2014
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	16,648	$	16,780
One to five years	29,727		29,940
Five to ten years	150,836		148,199
Beyond ten years	439,160		434,148
Total	$	636,371	$	629,067
Held to maturity:
Within one year	$	7,040	$	7,063
One to five years	41,517		41,742
Five to ten years	40,885		41,883
Beyond ten years	115,620		114,653
Total	$	205,062	$	205,341

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, 2014			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	—	$	—	$	114,950	$	3,200
State and municipal obligations	6,698		27		13,017		244
U.S. GSE residential mortgage-backed securities	—		—		1,550		63
U.S. GSE residential collateralized mortgage obligations	67,582		384		124,854		3,781
U.S. GSE commercial mortgage-backed securities	—		—		2,912		134
U.S. GSE commercial collateralized mortgage obligations	18,731		58		—		—
Other Asset backed securities	33,317		833		14,984		262
Corporate Bonds	4,994		6		—		—
Total available for sale	131,322		1,308		272,267		7,684
Held to maturity:
U.S. GSE securities	—		—		7,404		46
State and municipal obligations	—		—		641		5
U.S. GSE residential mortgage-backed securities	—		—		7,205		137
U.S. GSE residential collateralized mortgage obligations	5,940		58		32,032		1,747
U.S. GSE commercial mortgage-backed securities	—		—		4,179		87
U.S. GSE commercial collateralized mortgage obligations	6,593		35		8,514		453
Corporate Bonds	5,982		18		1,000		—
Total held to maturity	$	18,515	$	111	$	60,975	$	2,475

	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