SECURITIES (Tables)

6 Months Ended

Jun. 30, 2018

SECURITIES

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

	June 30, 2018
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	29,996	$	-	$	(1,258	)	$	28,738
State and municipal obligations		38,423		50		(525	)		37,948
U.S. GSE residential mortgage-backed securities		101,884		-		(3,688	)		98,196
U.S. GSE residential collateralized mortgage obligations		340,978		6		(8,937	)		332,047
U.S. GSE commercial mortgage-backed securities		3,584		-		(67	)		3,517
U.S. GSE commercial collateralized mortgage obligations		94,845		-		(2,438	)		92,407
Other asset backed securities		24,250		-		(727	)		23,523
Corporate bonds		46,000		-		(3,300	)		42,700
Total available for sale		679,960		56		(20,940	)		659,076
Held to maturity:
State and municipal obligations		57,350		497		(481	)		57,366
U.S. GSE residential mortgage-backed securities		10,441		-		(451	)		9,990
U.S. GSE residential collateralized mortgage obligations		51,026		81		(1,318	)		49,789
U.S. GSE commercial mortgage-backed securities		20,626		-		(897	)		19,729
U.S. GSE commercial collateralized mortgage obligations		30,274		-		(1,542	)		28,732
Total held to maturity		169,717		578		(4,689	)		165,606
Total securities	$	849,677	$	634	$	(25,629	)	$	824,682

	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

	June 30, 2018
			Estimated
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	8,029	$	8,016
One to five years		24,616		24,104
Five to ten years		90,038		85,462
Beyond ten years		557,277		541,494
Total	$	679,960	$	659,076
Held to maturity:
Within one year	$	3,377	$	3,376
One to five years		30,563		30,374
Five to ten years		51,321		50,491
Beyond ten years		84,456		81,365
Total	$	169,717	$	165,606

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

	June 30, 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	$	-	$	-		$	28,739	$	(1,258	)
State and municipal obligations		22,612		(318	)		10,404		(207	)
U.S. GSE residential mortgage-backed securities		39,156		(1,267	)		59,040		(2,421	)
U.S. GSE residential collateralized mortgage obligations		189,200		(2,329	)		132,871		(6,608	)
U.S. GSE commercial mortgage-backed securities		3,518		(67	)		-		-
U.S. GSE commercial collateralized mortgage obligations		47,103		(326	)		45,304		(2,112	)
Other asset backed securities		-		-			23,523		(727	)
Corporate bonds		12,930		(1,069	)		29,769		(2,231	)
Total available for sale		314,519		(5,376	)		329,650		(15,564	)
Held to maturity:
State and municipal obligations		28,822		(437	)		2,396		(44	)
U.S. GSE residential mortgage-backed securities		1,205		(35	)		8,784		(416	)
U.S. GSE residential collateralized mortgage obligations		23,685		(492	)		19,392		(826	)
U.S. GSE commercial mortgage-backed securities		11,857		(388	)		7,871		(509	)
U.S. GSE commercial collateralized mortgage obligations		9,489		(400	)		19,244		(1,142	)
Total held to maturity	$	75,058	$	(1,752	)	$	57,687	$	(2,937	)

	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	)