SECURITIES (Tables)

3 Months Ended

Mar. 31, 2018

SECURITIES

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

	March 31, 2018
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	57,995	$	-	$	(1,957	)	$	56,038
State and municipal obligations		86,127		54		(1,335	)		84,846
U.S. GSE residential mortgage-backed securities		181,005		4		(5,442	)		175,567
U.S. GSE residential collateralized mortgage obligations		300,907		-		(10,233	)		290,674
U.S. GSE commercial mortgage-backed securities		5,976		-		(120	)		5,856
U.S. GSE commercial collateralized mortgage obligations		48,370		-		(1,878	)		46,492
Other asset backed securities		24,250		-		(849	)		23,401
Corporate bonds		46,000		-		(2,818	)		43,182
Total available for sale		750,630		58		(24,632	)		726,056
Held to maturity:
State and municipal obligations		58,511		586		(260	)		58,837
U.S. GSE residential mortgage-backed securities		10,988		-		(433	)		10,555
U.S. GSE residential collateralized mortgage obligations		52,603		137		(1,153	)		51,587
U.S. GSE commercial mortgage-backed securities		22,751		-		(719	)		22,032
U.S. GSE commercial collateralized mortgage obligations		31,236		-		(1,370	)		29,866
Total held to maturity		176,089		723		(3,935	)		172,877
Total securities	$	926,719	$	781	$	(28,567	)	$	898,933

	December 31, 2017
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	57,994	$	-	$	(1,180	)	$	56,814
State and municipal obligations		87,582		259		(819	)		87,022
U.S. GSE residential mortgage-backed securities		189,705		29		(2,833	)		186,901
U.S. GSE residential collateralized mortgage obligations		314,390		16		(7,016	)		307,390
U.S. GSE commercial mortgage-backed securities		6,017		2		(40	)		5,979
U.S. GSE commercial collateralized mortgage obligations		49,965		-		(1,249	)		48,716
Other asset backed securities		24,250		-		(849	)		23,401
Corporate bonds		46,000		-		(2,307	)		43,693
Total available for sale		775,903		306		(16,293	)		759,916
Held to maturity:
State and municipal obligations		60,762		972		(64	)		61,670
U.S. GSE residential mortgage-backed securities		11,424		-		(261	)		11,163
U.S. GSE residential collateralized mortgage obligations		54,250		244		(666	)		53,828
U.S. GSE commercial mortgage-backed securities		22,953		77		(438	)		22,592
U.S. GSE commercial collateralized mortgage obligations		31,477		-		(845	)		30,632
Total held to maturity		180,866		1,293		(2,274	)		179,885
Total securities	$	956,769	$	1,599	$	(18,567	)	$	939,801

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

	March 31, 2018
			Estimated
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	9,807	$	9,785
One to five years		90,205		88,221
Five to ten years		125,146		120,265
Beyond ten years		525,472		507,785
Total	$	750,630	$	726,056
Held to maturity:
Within one year	$	2,878	$	2,873
One to five years		31,208		31,046
Five to ten years		55,680		55,269
Beyond ten years		86,323		83,689
Total	$	176,089	$	172,877

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

	March 31, 2018
	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	$	-	$	-		$	56,038	$	(1,957	)
State and municipal obligations		51,188		(630	)		29,283		(705	)
U.S. GSE residential mortgage-backed securities		91,424		(2,353	)		80,300		(3,089	)
U.S. GSE residential collateralized mortgage obligations		78,440		(1,748	)		212,234		(8,485	)
U.S. GSE commercial mortgage-backed securities		5,856		(120	)		-		-
U.S. GSE commercial collateralized mortgage obligations		252		-			46,240		(1,878	)
Other asset backed securities		-		-			23,401		(849	)
Corporate bonds		13,281		(719	)		29,901		(2,099	)
Total available for sale		240,441		(5,570	)		477,397		(19,062	)
Held to maturity:
State and municipal obligations		23,435		(255	)		1,005		(5	)
U.S. GSE residential mortgage-backed securities		1,276		(32	)		9,279		(401	)
U.S. GSE residential collateralized mortgage obligations		24,359		(358	)		20,142		(795	)
U.S. GSE commercial mortgage-backed securities		13,975		(276	)		8,057		(443	)
U.S. GSE commercial collateralized mortgage obligations		10,116		(324	)		19,750		(1,046	)
Total held to maturity	$	73,161	$	(1,245	)	$	58,233	$	(2,690	)

	December 31, 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	$	-	$	-		$	56,815	$	(1,180	)
State and municipal obligations		35,350		(301	)		28,165		(518	)
U.S. GSE residential mortgage-backed securities		107,408		(1,153	)		69,571		(1,680	)
U.S. GSE residential collateralized mortgage obligations		77,705		(759	)		224,932		(6,257	)
U.S. GSE commercial mortgage-backed securities		2,345		(40	)		-		-
U.S. GSE commercial collateralized mortgage obligations		452		(1	)		48,264		(1,248	)
Other asset backed securities		-		-			23,401		(849	)
Corporate bonds		13,588		(412	)		30,105		(1,895	)
Total available for sale		236,848		(2,666	)		481,253		(13,627	)
Held to maturity:
State and municipal obligations		7,709		(57	)		1,009		(7	)
U.S. GSE residential mortgage-backed securities		1,359		(16	)		9,804		(245	)
U.S. GSE residential collateralized mortgage obligations		21,329		(94	)		21,112		(572	)
U.S. GSE commercial mortgage-backed securities		8,789		(121	)		8,303		(317	)
U.S. GSE commercial collateralized mortgage obligations		10,341		(116	)		20,290		(729	)
Total held to maturity	$	49,527	$	(404	)	$	60,518	$	(1,870	)