SECURITIES (Tables)

6 Months Ended

Jun. 30, 2015

SECURITIES

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

	June 30, 2015
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	68,015	$	42	$	(821	)	$	67,236
State and municipal obligations		72,454		206		(313	)		72,347
U.S. GSE residential mortgage-backed securities		162,236		387		(619	)		162,004
U.S. GSE residential collateralized mortgage obligations		235,102		1,069		(2,454	)		233,717
U.S. GSE commercial mortgage-backed securities		12,607		20		(48	)		12,579
U.S. GSE commercial collateralized mortgage obligations		31,066		6		(158	)		30,914
Other Asset backed securities		24,247		-		(1,210	)		23,037
Corporate Bonds		17,956		10		(328	)		17,638
Total available for sale		623,683		1,740		(5,951	)		619,472
Held to maturity:
U.S. GSE securities		11,298		178		-			11,476
State and municipal obligations		62,255		1,760		(263	)		63,752
U.S. GSE residential mortgage-backed securities		8,413		-		(106	)		8,307
U.S. GSE residential collateralized mortgage obligations		60,031		573		(758	)		59,846
U.S. GSE commercial mortgage-backed securities		23,244		172		(329	)		23,087
U.S. GSE commercial collateralized mortgage obligations		33,536		314		(235	)		33,615
Corporate Bonds		22,979		94		(8	)		23,065
Total held to maturity		221,756		3,091		(1,699	)		223,148
Total securities	$	845,439	$	4,831	$	(7,650	)	$	842,620

	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

	June 30, 2015
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	6,643	$	6,660
One to five years		72,672		72,428
Five to ten years		100,252		99,298
Beyond ten years		444,116		441,086
Total	$	623,683	$	619,472
Held to maturity:
Within one year	$	18,314	$	18,347
One to five years		33,688		33,948
Five to ten years		62,646		63,953
Beyond ten years		107,108		106,900
Total	$	221,756	$	223,148

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
June 30, 2015			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	32,667	$	331	$	29,748	$	490
State and municipal obligations		41,013		285		5,492		28
U.S. GSE residential mortgage-backed securities		73,581		565		1,520		54
U.S. GSE residential collateralized mortgage obligations		62,629		485		75,427		1,969
U.S. GSE commercial mortgage-backed securities		2,732		48		-		-
U.S. GSE commercial collateralized mortgage obligations		13,753		93		10,295		65
Other Asset backed securities		23,038		1,210		-		-
Corporate Bonds		9,697		303		4,975		25
Total available for sale		259,110		3,320		127,457		2,631
Held to maturity:
U.S. GSE securities		-		-		-		-
State and municipal obligations		15,488		263		-		-
U.S. GSE residential mortgage-backed securities		8,307		106		-		-
U.S. GSE residential collateralized mortgage obligations		14,844		159		19,821		599
U.S. GSE commercial mortgage-backed securities		14,035		329		-		-
U.S. GSE commercial collateralized mortgage obligations		4,946		36		3,790		199
Corporate Bonds		6,994		6		1,997		2
Total held to maturity	$	64,614	$	899	$	25,608	$	800

	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