SECURITIES (Tables)

3 Months Ended

Mar. 31, 2015

SECURITIES

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

	March 31, 2015
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	68,409	$	25	$	(544	)	$	67,890
State and municipal obligations	62,567		458		(86		)	62,939
U.S. GSE residential mortgage-backed securities	128,542		1,337		(33		)	129,846
U.S. GSE residential collateralized mortgage obligations	204,172		666		(1,600		)	203,238
U.S. GSE commercial mortgage-backed securities	2,999		—		(18		)	2,981
U.S. GSE commercial collateralized mortgage obligations	21,672		34		(114		)	21,592
Other Asset backed securities	24,241		—		(961		)	23,280
Corporate Bonds	17,954		322		(44		)	18,232
Total available for sale	530,556		2,842		(3,400		)	529,998
Held to maturity:
U.S. GSE securities	11,291		187		—			11,478
State and municipal obligations	63,829		2,072		(10		)	65,891
U.S. GSE residential mortgage-backed securities	6,355		—		(21		)	6,334
U.S. GSE residential collateralized mortgage obligations	57,728		909		(419		)	58,218
U.S. GSE commercial mortgage-backed securities	13,127		369		—			13,496
U.S. GSE commercial collateralized mortgage obligations	36,387		661		(148		)	36,900
Corporate Bonds	22,963		115		(23		)	23,055
Total held to maturity	211,680		4,313		(621		)	215,372
Total securities	$	742,236	$	7,155	$	(4,021	)	$	745,370

	December 31, 2014
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	97,560	$	4	$	(2,139	)	$	95,425
State and municipal obligations	63,583		318		(208		)	63,693
U.S. GSE residential mortgage-backed securities	100,931		534		(40		)	101,425
U.S. GSE residential collateralized mortgage obligations	261,256		310		(2,967		)	258,599
U.S. GSE commercial mortgage-backed securities	3,016		—		(71		)	2,945
U.S. GSE commercial collateralized mortgage obligations	24,179		44		(141		)	24,082
Other Asset backed securities	24,190		—		(1,153		)	23,037
Corporate Bonds	17,952		161		(135		)	17,978
Total available for sale	592,667		1,371		(6,854		)	587,184
Held to maturity:
U.S. GSE securities	11,283		135		(41		)	11,377
State and municipal obligations	64,864		1,658		(98		)	66,424
U.S. GSE residential mortgage-backed securities	6,667		—		(97		)	6,570
U.S. GSE residential collateralized mortgage obligations	59,539		507		(862		)	59,184
U.S. GSE commercial mortgage-backed securities	13,213		233		(26		)	13,420
U.S. GSE commercial collateralized mortgage obligations	36,413		267		(431		)	36,249
Corporate Bonds	22,948		139		(22		)	23,065
Total held to maturity	214,927		2,939		(1,577		)	216,289
Total securities	$	807,594	$	4,310	$	(8,431	)	$	803,473

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

	March 31, 2015
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	11,349	$	11,392
One to five years	52,385		52,274
Five to ten years	86,485		86,676
Beyond ten years	380,337		379,656
Total	$	530,556	$	529,998
Held to maturity:
Within one year	$	17,627	$	17,664
One to five years	35,439		35,726
Five to ten years	55,092		57,403
Beyond ten years	103,522		104,579
Total	$	211,680	$	215,372

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, 2015			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	19,806	$	194	$	29,886	$	350
State and municipal obligations	9,496		46		6,024		40
U.S. GSE residential mortgage-backed securities	5,185		5		1,557		28
U.S. GSE residential collateralized mortgage obligations	37,795		197		79,948		1,403
U.S. GSE commercial mortgage-backed securities	2,981		18		—		—
U.S. GSE commercial collateralized mortgage obligations	3,113		56		11,264		58
Other Asset backed securities	23,280		961		—		—
Corporate Bonds	4,956		44		—		—
Total available for sale	106,612		1,521		128,679		1,879
Held to maturity:
State and municipal obligations	2,970		10		—		—
U.S. GSE residential mortgage-backed securities	6,334		21		—		—
U.S. GSE residential collateralized mortgage obligations	—		—		20,545		419
U.S. GSE commercial collateralized mortgage obligations	—		—		3,840		148
Corporate Bonds	6,981		19		1,996		4
Total held to maturity	$	16,285	$	50	$	26,381	$	571

	Less than 12 months				Greater than 12 months
December 31, 2014			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	4,991	$	8	$	90,233	$	2,131
State and municipal obligations	12,330		79		14,592		129
U.S. GSE residential mortgage-backed securities	—		—		1,554		40
U.S. GSE residential collateralized mortgage obligations	60,126		349		122,179		2,618
U.S. GSE commercial mortgage-backed securities	—		—		2,944		71
U.S. GSE commercial collateralized mortgage obligations	13,830		108		4,636		33
Other Asset backed securities	23,038		1,153		—		—
Corporate Bonds	9,865		135		—		—
Total available for sale	124,180		1,832		236,138		5,022
Held to maturity:
U.S. GSE securities	—		—		7,414		41
State and municipal obligations	11,343		97		202		1
U.S. GSE residential mortgage-backed securities	—		—		6,569		97
U.S. GSE residential collateralized mortgage obligations	10,422		46		30,413		816
U.S. GSE commercial mortgage-backed securities	—		—		4,188		26
U.S. GSE commercial collateralized mortgage obligations	14,392		73		8,611		358
Corporate Bonds	3,978		22		—		—
Total held to maturity	$	40,135	$	238	$	57,397	$	1,339