SECURITIES (Tables)

12 Months Ended

Dec. 31, 2016

SECURITIES

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

	December 31,
	2016									2015
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
U.S. GSE securities	$	64,993	$	—	$	(1,344	)	$	63,649	$	63,238	$	—	$	(564	)	$	62,674
State and municipal obligations		117,292		212		(1,339	)		116,165		87,830		427		(322	)		87,935
U.S. GSE residential mortgage-backed securities		160,446		16		(2,414	)		158,048		201,297		237		(1,270	)		200,264
U.S. GSE residential collateralized mortgage obligations		373,098		149		(5,736	)		367,511		321,253		513		(3,888	)		317,878
U.S. GSE commercial mortgage-backed securities		6,337		6		(36	)		6,307		12,491		7		(80	)		12,418
U.S. GSE commercial collateralized mortgage obligations		56,148		—		(956	)		55,192		64,809		9		(620	)		64,198
Other asset backed securities		24,250		—		(1,697	)		22,553		24,250		—		(1,879	)		22,371
Corporate bonds		32,000		—		(1,703	)		30,297		33,000		—		(535	)		32,465
Total available for sale		834,564		383		(15,225	)		819,722		808,168		1,193		(9,158	)		800,203
Held to maturity:
U.S. GSE securities		—		—		—			—		7,466		1		—			7,467
State and municipal obligations		66,666		1,085		(130	)		67,621		64,878		1,715		(113	)		66,480
U.S. GSE residential mortgage-backed securities		13,443		—		(287	)		13,156		7,609		—		(106	)		7,503
U.S. GSE residential collateralized mortgage obligations		61,639		352		(552	)		61,439		60,933		617		(498	)		61,052
U.S. GSE commercial mortgage-backed securities		28,772		136		(509	)		28,399		23,056		210		(313	)		22,953
U.S. GSE commercial collateralized mortgage obligations		41,717		93		(573	)		41,237		33,409		282		(185	)		33,506
Corporate bonds		11,000		26		—			11,026		11,000		42		—			11,042
Total held to maturity		223,237		1,692		(2,051	)		222,878		208,351		2,867		(1,215	)		210,003
Total securities	$	1,057,801	$	2,075	$	(17,276	)	$	1,042,600	$	1,016,519	$	4,060	$	(10,373	)	$	1,010,206

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

	December 31,
	2016										2015
	Less than 12 months					Greater than 12 months					Less than 12 months					Greater than 12 months
	Estimated		Gross			Estimated		Gross			Estimated		Gross			Estimated		Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(In thousands)	Value		Losses			Value		Losses			Value		Losses			Value		Losses
Available for sale:
U.S. GSE securities	$	63,649	$	(1,344	)	$	—	$	—		$	37,759	$	(235	)	$	24,914	$	(329	)
State and municipal obligations		78,883		(1,338	)		240		(1	)		39,621		(298	)		5,118		(24	)
U.S. GSE residential mortgage-backed securities		140,514		(2,409	)		241		(5	)		136,025		(1,224	)		1,510		(46	)
U.S. GSE residential collateralized mortgage obligations		319,197		(5,221	)		15,627		(515	)		187,543		(1,781	)		66,830		(2,107	)
U.S. GSE commercial mortgage-backed securities		2,573		(36	)		—		—			8,594		(80	)		—		—
U.S. GSE commercial collateralized mortgage obligations		48,901		(886	)		6,292		(70	)		51,178		(503	)		10,034		(117	)
Other asset backed securities		—		—			22,552		(1,697	)		—		—			22,371		(1,879	)
Corporate bonds		17,834		(1,166	)		12,463		(537	)		27,640		(360	)		4,825		(175	)
Total available for sale		671,551		(12,400	)		57,415		(2,825	)		488,360		(4,481	)		135,602		(4,677	)
Held to maturity:
State and municipal obligations		21,867		(130	)		—		—			18,375		(113	)		—		—
U.S. GSE residential mortgage-backed securities		13,156		(287	)		—		—			7,503		(106	)		—		—
U.S. GSE residential collateralized mortgage obligations		31,297		(455	)		3,873		(97	)		15,918		(149	)		15,679		(349	)
U.S. GSE commercial mortgage-backed securities		12,860		(286	)		5,877		(223	)		13,982		(313	)		—		—
U.S. GSE commercial collateralized mortgage obligations		22,666		(372	)		3,790		(201	)		7,912		(8	)		3,813		(177	)
Corporate bonds		—		—			—		—			—		—			—		—
Total held to maturity	$	101,846	$	(1,530	)	$	13,540	$	(521	)	$	63,690	$	(689	)	$	19,492	$	(526	)

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

	December 31, 2016
	Within				After One but				After Five but				After
	One Year				Within Five Years				Within Ten Years				Ten Years				Total
	Estimated				Estimated				Estimated				Estimated				Estimated
	Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized
(In thousands)	Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost
Available for sale:
U.S. GSE securities	$	—	$	—	$	26,593	$	26,994	$	37,056	$	37,999	$	—	$	—	$	63,649	$	64,993
State and municipal obligations		14,635		14,638		50,964		51,473		42,921		43,461		7,645		7,720		116,165		117,292
U.S. GSE residential mortgage-backed securities		—		—		—		—		16,124		16,227		141,924		144,219		158,048		160,446
U.S. GSE residential collateralized mortgage obligations		—		—		—		—		9,263		9,361		358,248		363,737		367,511		373,098
U.S. GSE commercial mortgage-backed securities		—		—		—		—		6,307		6,337		—		—		6,307		6,337
U.S. GSE commercial collateralized mortgage obligations		—		—		—		—		—		—		55,192		56,148		55,192		56,148
Other asset backed securities		—		—		—		—		—		—		22,553		24,250		22,553		24,250
Corporate bonds		—		—		—		—		30,297		32,000		—		—		30,297		32,000
Total available for sale		14,635		14,638		77,557		78,467		141,968		145,385		585,562		596,074		819,722		834,564
Held to maturity:
State and municipal obligations		9,631		9,635		16,982		16,818		39,133		38,361		1,875		1,852		67,621		66,666
U.S. GSE residential mortgage-backed securities		—		—		—		—		1,688		1,701		11,468		11,742		13,156		13,443
U.S. GSE residential collateralized mortgage obligations		—		—		—		—		7,389		7,394		54,050		54,245		61,439		61,639
U.S. GSE commercial mortgage-backed securities		—		—		5,016		5,063		14,568		14,621		8,815		9,088		28,399		28,772
U.S. GSE commercial collateralized mortgage obligations		—		—		—		—		4,930		5,129		36,307		36,588		41,237		41,717
Corporate bonds		11,026		11,000		—		—		—		—		—		—		11,026		11,000
Total held to maturity		20,657		20,635		21,998		21,881		67,708		67,206		112,515		113,515		222,878		223,237
Total securities	$	35,292	$	35,273	$	99,555	$	100,348	$	209,676	$	212,591	$	698,077	$	709,589	$	1,042,600	$	1,057,801