SECURITIES (Tables)

9 Months Ended

Sep. 30, 2017

SECURITIES

Schedule of amortized cost and fair value of the available for sale and held to maturity

	September 30, 2017
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	64,994	$	-	$	(766	)	$	64,228
State and municipal obligations		91,359		430		(469	)		91,320
U.S. GSE residential mortgage-backed securities		195,062		112		(1,770	)		193,404
U.S. GSE residential collateralized mortgage obligations		323,427		75		(4,300	)		319,202
U.S. GSE commercial mortgage-backed securities		6,129		41		(17	)		6,153
U.S. GSE commercial collateralized mortgage obligations		51,211		-		(825	)		50,386
Other asset backed securities		24,250		-		(1,213	)		23,037
Corporate bonds		46,000		-		(1,672	)		44,328
Total available for sale		802,432		658		(11,032	)		792,058
Held to maturity:
State and municipal obligations		60,616		1,446		(36	)		62,026
U.S. GSE residential mortgage-backed securities		11,905		-		(175	)		11,730
U.S. GSE residential collateralized mortgage obligations		55,871		389		(348	)		55,912
U.S. GSE commercial mortgage-backed securities		28,202		158		(350	)		28,010
U.S. GSE commercial collateralized mortgage obligations		33,009		13		(595	)		32,427
Total held to maturity		189,603		2,006		(1,504	)		190,105
Total securities	$	992,035	$	2,664	$	(12,536	)	$	982,163

	December 31, 2016
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	64,993	$	-	$	(1,344	)	$	63,649
State and municipal obligations		117,292		212		(1,339	)		116,165
U.S. GSE residential mortgage-backed securities		160,446		16		(2,414	)		158,048
U.S. GSE residential collateralized mortgage obligations		373,098		149		(5,736	)		367,511
U.S. GSE commercial mortgage-backed securities		6,337		6		(36	)		6,307
U.S. GSE commercial collateralized mortgage obligations		56,148		-		(956	)		55,192
Other asset backed securities		24,250		-		(1,697	)		22,553
Corporate bonds		32,000		-		(1,703	)		30,297
Total available for sale		834,564		383		(15,225	)		819,722
Held to maturity:
State and municipal obligations		66,666		1,085		(130	)		67,621
U.S. GSE residential mortgage-backed securities		13,443		-		(287	)		13,156
U.S. GSE residential collateralized mortgage obligations		61,639		352		(552	)		61,439
U.S. GSE commercial mortgage-backed securities		28,772		136		(509	)		28,399
U.S. GSE commercial collateralized mortgage obligations		41,717		93		(573	)		41,237
Corporate bonds		11,000		26		-			11,026
Total held to maturity		223,237		1,692		(2,051	)		222,878
Total securities	$	1,057,801	$	2,075	$	(17,276	)	$	1,042,600

Schedule of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio

	September 30, 2017
			Estimated
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	8,897	$	8,900
One to five years		97,886		97,300
Five to ten years		130,905		128,893
Beyond ten years		564,744		556,965
Total	$	802,432	$	792,058
Held to maturity:
Within one year	$	3,537	$	3,534
One to five years		36,367		36,634
Five to ten years		55,308		56,280
Beyond ten years		94,391		93,657
Total	$	189,603	$	190,105

Schedule of securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months

	September 30, 2017
	Less than 12 months					Greater than 12 months
	Estimated		Gross			Estimated		Gross
	Fair		Unrealized			Fair		Unrealized
(In thousands)	Value		Losses			Value		Losses
Available for sale:
U.S. GSE securities	$	37,659	$	(334	)	$	26,568	$	(432	)
State and municipal obligations		27,585		(146	)		25,204		(323	)
U.S. GSE residential mortgage-backed securities		129,703		(1,162	)		25,682		(608	)
U.S. GSE residential collateralized mortgage obligations		178,035		(2,174	)		114,900		(2,126	)
U.S. GSE commercial mortgage-backed securities		2,455		(17	)		-		-
U.S. GSE commercial collateralized mortgage obligations		25,236		(364	)		25,151		(461	)
Other asset backed securities		-		-			23,037		(1,213	)
Corporate bonds		-		-			30,328		(1,672	)
Total available for sale		400,673		(4,197	)		270,870		(6,835	)
Held to maturity:
State and municipal obligations		2,828		(29	)		1,015		(7	)
U.S. GSE residential mortgage-backed securities		5,326		(57	)		6,404		(118	)
U.S. GSE residential collateralized mortgage obligations		14,488		(183	)		8,941		(165	)
U.S. GSE commercial mortgage-backed securities		12,806		(166	)		5,679		(184	)
U.S. GSE commercial collateralized mortgage obligations		13,785		(109	)		12,955		(486	)
Total held to maturity	$	49,233	$	(544	)	$	34,994	$	(960	)

	December 31, 2016
	Less than 12 months					Greater than 12 months
	Estimated		Gross			Estimated		Gross
	Fair		Unrealized			Fair		Unrealized
(In thousands)	Value		Losses			Value		Losses
Available for sale:
U.S. GSE securities	$	63,649	$	(1,344	)	$	-	$	-
State and municipal obligations		78,883		(1,338	)		240		(1	)
U.S. GSE residential mortgage-backed securities		140,514		(2,409	)		241		(5	)
U.S. GSE residential collateralized mortgage obligations		319,197		(5,221	)		15,627		(515	)
U.S. GSE commercial mortgage-backed securities		2,573		(36	)		-		-
U.S. GSE commercial collateralized mortgage obligations		48,901		(886	)		6,292		(70	)
Other asset backed securities		-		-			22,552		(1,697	)
Corporate bonds		17,834		(1,166	)		12,463		(537	)
Total available for sale		671,551		(12,400	)		57,415		(2,825	)
Held to maturity:
State and municipal obligations		21,867		(130	)		-		-
U.S. GSE residential mortgage-backed securities		13,156		(287	)		-		-
U.S. GSE residential collateralized mortgage obligations		31,297		(455	)		3,873		(97	)
U.S. GSE commercial mortgage-backed securities		12,860		(286	)		5,877		(223	)
U.S. GSE commercial collateralized mortgage obligations		22,666		(372	)		3,790		(201	)
Total held to maturity	$	101,846	$	(1,530	)	$	13,540	$	(521	)