SECURITIES (Tables)

9 Months Ended

Sep. 30, 2015

SECURITIES

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

	September 30, 2015
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	67,868	$	145	$	(71	)	$	67,942
State and municipal obligations		86,351		775		(29	)		87,097
U.S. GSE residential mortgage-backed securities		154,546		1,093		(123	)		155,516
U.S. GSE residential collateralized mortgage obligations		235,025		1,456		(1,485	)		234,996
U.S. GSE commercial mortgage-backed securities		12,551		179		(24	)		12,706
U.S. GSE commercial collateralized mortgage obligations		29,185		124		(72	)		29,237
Other asset backed securities		24,247		—		(1,937	)		22,310
Corporate bonds		27,958		4		(296	)		27,666
Total available for sale		637,731		3,776		(4,037	)		637,470
Held to maturity:
U.S. GSE securities		11,306		202		—			11,508
State and municipal obligations		64,220		2,085		(56	)		66,249
U.S. GSE residential mortgage-backed securities		7,932		5		(45	)		7,892
U.S. GSE residential collateralized mortgage obligations		63,163		1,066		(157	)		64,072
U.S. GSE commercial mortgage-backed securities		23,151		468		(119	)		23,500
U.S. GSE commercial collateralized mortgage obligations		33,466		668		(119	)		34,015
Corporate Bonds		16,995		61		(5	)		17,051
Total held to maturity		220,233		4,555		(501	)		224,287
Total securities	$	857,964	$	8,331	$	(4,538	)	$	861,757

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

	September 30, 2015
	Amortized		Fair
(In thousands)	Cost		Value
Maturity
Available for sale:
Within one year	$	8,452	$	8,478
One to five years		83,370		83,682
Five to ten years		109,855		110,129
Beyond ten years		436,054		435,181
Total	$	637,731	$	637,470
Held to maturity:
Within one year	$	10,761	$	10,778
One to five years		33,660		34,043
Five to ten years		62,417		64,486
Beyond ten years		113,395		114,980
Total	$	220,233	$	224,287

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
September 30, 2015			Unrealized				Unrealized
(In thousands)	Fair Value		losses		Fair Value		losses
Available for sale:
U.S. GSE securities	$	—	$	—	$	25,172	$	71
State and municipal obligations		4,799		13		5,391		16
U.S. GSE residential mortgage-backed securities		32,991		89		1,530		34
U.S. GSE residential collateralized mortgage obligations		40,727		158		71,468		1,327
U.S. GSE commercial mortgage-backed securities		2,741		24		—		—
U.S. GSE commercial collateralized mortgage obligations		1,965		24		10,184		48
Other asset backed securities		22,310		1,937		—		—
Corporate bonds		19,854		146		4,850		150
Total available for sale		125,387		2,391		118,595		1,646
Held to maturity:
U.S. GSE securities		—		—		—		—
State and municipal obligations		7,580		56		—		—
U.S. GSE residential mortgage-backed securities		5,699		45		—		—
U.S. GSE residential collateralized mortgage obligations		2,715		16		16,127		141
U.S. GSE commercial mortgage-backed securities		4,992		119		—		—
U.S. GSE commercial collateralized mortgage obligations		—		—		3,870		119
Corporate bonds		—		—		2,994		5
Total held to maturity	$	20,986	$	236	$	22,991	$	265

	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