SECURITIES (Tables)

6 Months Ended

Jun. 30, 2017

SECURITIES

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

	June 30, 2017
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	64,993	$	-	$	(880	)	$	64,113
State and municipal obligations		120,835		761		(566	)		121,030
U.S. GSE residential mortgage-backed securities		204,903		47		(2,110	)		202,840
U.S. GSE residential collateralized mortgage obligations		340,752		113		(4,369	)		336,496
U.S. GSE commercial mortgage-backed securities		6,256		51		(15	)		6,292
U.S. GSE commercial collateralized mortgage obligations		52,634		-		(720	)		51,914
Other asset backed securities		24,250		-		(1,273	)		22,977
Corporate bonds		32,000		-		(1,670	)		30,330
Total available for sale		846,623		972		(11,603	)		835,992
Held to maturity:
State and municipal obligations		59,864		1,590		(24	)		61,430
U.S. GSE residential mortgage-backed securities		12,485		-		(242	)		12,243
U.S. GSE residential collateralized mortgage obligations		57,770		376		(366	)		57,780
U.S. GSE commercial mortgage-backed securities		28,403		186		(339	)		28,250
U.S. GSE commercial collateralized mortgage obligations		34,385		23		(552	)		33,856
Corporate bonds		11,000		17		-			11,017
Total held to maturity		203,907		2,192		(1,523	)		204,576
Total securities	$	1,050,530	$	3,164	$	(13,126	)	$	1,040,568

	December 31, 2016
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	64,993	$	-	$	(1,344	)	$	63,649
State and municipal obligations		117,292		212		(1,339	)		116,165
U.S. GSE residential mortgage-backed securities		160,446		16		(2,414	)		158,048
U.S. GSE residential collateralized mortgage obligations		373,098		149		(5,736	)		367,511
U.S. GSE commercial mortgage-backed securities		6,337		6		(36	)		6,307
U.S. GSE commercial collateralized mortgage obligations		56,148		-		(956	)		55,192
Other asset backed securities		24,250		-		(1,697	)		22,553
Corporate bonds		32,000		-		(1,703	)		30,297
Total available for sale		834,564		383		(15,225	)		819,722
Held to maturity:
State and municipal obligations		66,666		1,085		(130	)		67,621
U.S. GSE residential mortgage-backed securities		13,443		-		(287	)		13,156
U.S. GSE residential collateralized mortgage obligations		61,639		352		(552	)		61,439
U.S. GSE commercial mortgage-backed securities		28,772		136		(509	)		28,399
U.S. GSE commercial collateralized mortgage obligations		41,717		93		(573	)		41,237
Corporate bonds		11,000		26		-			11,026
Total held to maturity		223,237		1,692		(2,051	)		222,878
Total securities	$	1,057,801	$	2,075	$	(17,276	)	$	1,042,600

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

	June 30, 2017
			Estimated
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	7,873	$	7,871
One to five years		102,207		101,662
Five to ten years		137,268		135,246
Beyond ten years		599,275		591,213
Total	$	846,623	$	835,992
Held to maturity:
Within one year	$	13,832	$	13,852
One to five years		37,901		38,225
Five to ten years		50,367		51,496
Beyond ten years		101,807		101,003
Total	$	203,907	$	204,576

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

	June 30, 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	$	64,113	$	(880	)	$	-	$	-
State and municipal obligations		57,088		(475	)		4,499		(91	)
U.S. GSE residential mortgage-backed securities		181,303		(2,105	)		176		(5	)
U.S. GSE residential collateralized mortgage obligations		265,581		(3,547	)		40,814		(822	)
U.S. GSE commercial mortgage-backed securities		2,561		(15	)		-		-
U.S. GSE commercial collateralized mortgage obligations		42,555		(567	)		9,358		(153	)
Other asset backed securities		-		-			22,977		(1,273	)
Corporate bonds		8,356		(644	)		21,974		(1,026	)
Total available for sale		621,557		(8,233	)		99,798		(3,370	)
Held to maturity:
State and municipal obligations		1,994		(16	)		1,020		(8	)
U.S. GSE residential mortgage-backed securities		12,244		(242	)		-		-
U.S. GSE residential collateralized mortgage obligations		19,630		(298	)		3,616		(68	)
U.S. GSE commercial mortgage-backed securities		12,884		(157	)		5,761		(182	)
U.S. GSE commercial collateralized mortgage obligations		14,722		(229	)		8,611		(323	)
Total held to maturity	$	61,474	$	(942	)	$	19,008	$	(581	)

	December 31, 2016
	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	$	63,649	$	(1,344	)	$	-	$	-
State and municipal obligations		78,883		(1,338	)		240		(1	)
U.S. GSE residential mortgage-backed securities		140,514		(2,409	)		241		(5	)
U.S. GSE residential collateralized mortgage obligations		319,197		(5,221	)		15,627		(515	)
U.S. GSE commercial mortgage-backed securities		2,573		(36	)		-		-
U.S. GSE commercial collateralized mortgage obligations		48,901		(886	)		6,292		(70	)
Other asset backed securities		-		-			22,552		(1,697	)
Corporate bonds		17,834		(1,166	)		12,463		(537	)
Total available for sale		671,551		(12,400	)		57,415		(2,825	)
Held to maturity:
State and municipal obligations		21,867		(130	)		-		-
U.S. GSE residential mortgage-backed securities		13,156		(287	)		-		-
U.S. GSE residential collateralized mortgage obligations		31,297		(455	)		3,873		(97	)
U.S. GSE commercial mortgage-backed securities		12,860		(286	)		5,877		(223	)
U.S. GSE commercial collateralized mortgage obligations		22,666		(372	)		3,790		(201	)
Total held to maturity	$	101,846	$	(1,530	)	$	13,540	$	(521	)