SECURITIES (Tables)

9 Months Ended

Sep. 30, 2014

SECURITIES

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

	September 30, 2014
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	104,296	$	7	$	(3,522	)	$	100,781
State and municipal obligations	64,823		404		(268		)	64,959
U.S. GSE residential mortgage-backed securities	99,054		3		(349		)	98,708
U.S. GSE residential collateralized mortgage obligations	278,002		77		(4,752		)	273,327
U.S. GSE commercial mortgage-backed securities	3,032		—		(120		)	2,912
U.S. GSE commercial collateralized mortgage obligations	25,206		63		(151		)	25,118
Other Asset backed securities	29,189		4		—			29,193
Corporate Bonds	17,950		59		(106		)	17,903
Total available for sale	621,552		617		(9,268		)	612,901
Held to maturity:
U.S. GSE securities	11,276		73		(69		)	11,280
State and municipal obligations	55,267		1,648		(86		)	56,829
U.S. GSE residential mortgage-backed securities	7,090		—		(173		)	6,917
U.S. GSE residential collateralized mortgage obligations	61,757		575		(1,663		)	60,669
U.S. GSE commercial mortgage-backed securities	13,298		93		(88		)	13,303
U.S. GSE commercial collateralized mortgage obligations	38,157		239		(666		)	37,730
Corporate Bonds	22,932		142		(13		)	23,061
Total held to maturity	209,777		2,770		(2,758		)	209,789
Total securities	$	831,329	$	3,387	$	(12,026	)	$	822,690

	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

	September 30, 2014
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	15,983	$	16,081
One to five years	31,614		31,773
Five to ten years	132,528		129,309
Beyond ten years	441,427		435,738
Total	$	621,552	$	612,901
Held to maturity:
Within one year	$	12,407	$	12,442
One to five years	34,983		35,157
Five to ten years	45,316		46,272
Beyond ten years	117,071		115,918
Total	$	209,777	$	209,789

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, 2014			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	—	$	—	$	100,509	$	3,522
State and municipal obligations	12,118		60		12,752		208
U.S. GSE residential mortgage-backed securities	86,937		285		1,539		64
U.S. GSE residential collateralized mortgage obligations	122,023		879		113,484		3,873
U.S. GSE commercial mortgage-backed securities	—		—		2,912		120
U.S. GSE commercial collateralized mortgage obligations	18,549		151		—		—
Other Asset backed securities	—		—		—		—
Corporate Bonds	9,894		106		—		—
Total available for sale	249,521		1,481		231,196		7,787
Held to maturity:
U.S. GSE securities	—		—		78,384		69
State and municipal obligations	7,761		86		—		—
U.S. GSE residential mortgage-backed securities	—		—		6,917		173
U.S. GSE residential collateralized mortgage obligations	8,914		86		31,892		1,577
U.S. GSE commercial mortgage-backed securities	—		—		4,152		88
U.S. GSE commercial collateralized mortgage obligations	14,290		160		8,461		506
Corporate Bonds	5,987		13		—		—
Total held to maturity	$	36,952	$	345	$	129,806	$	2,413

	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