SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The following table presents the amortized cost and fair value of the available for sale investment securities portfolio and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) as of the dates indicated:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
March 31, 2015
Available for sale
SBA loan pool securities	$	1,600	$	35	$	—		$	1,635
U.S. government-sponsored entities and agency securities	1,943		58		—			2,001
Private label residential mortgage-backed securities	2,607		11		(3		)	2,615
Agency mortgage-backed securities	383,287		4,224		(176		)	387,335
Total securities available for sale	$	389,437	$	4,328	$	(179	)	$	393,586
December 31, 2014
Available for sale
SBA loan pool securities	$	1,697	$	18	$	—		$	1,715
U.S. government-sponsored entities and agency securities	1,940		42		—			1,982
Private label residential mortgage-backed securities	3,169		12		(13		)	3,168
Agency mortgage-backed securities	338,072		1,363		(605		)	338,830
Total securities available for sale	$	344,878	$	1,435	$	(618	)	$	345,695

Summary of Amortized Cost and Fair Value of Available-for-Sale Investment Securities Portfolio by Maturity Date

The following table presents amortized cost and fair value of the available for sale investment securities portfolio by expected maturity. In the case of mortgage-backed securities and SBA loan pool securities, expected maturities may differ from contractual maturities because borrowers generally have the right to call or prepay obligations with or without call or prepayment penalties. For that reason, mortgage-backed securities and SBA loan pool securities are not included in the maturity categories.



	March 31, 2015
	Amortized Cost		Fair Value
	(In thousands)
Maturity:
Within one year	$	—	$	—
One to five years	1,943		2,001
Five to ten years	—		—
Greater than ten years	—		—
SBA loan pool, private label residential mortgage-backed and agency mortgage-backed securities	387,494		391,585
Total	$	389,437	$	393,586

Proceeds from Sales and Calls of Securities and Associated Gross Gains and Losses

The following table presents proceeds from sales and calls of securities and the associated gross gains and losses realized through earnings upon the sale of available for sale securities for the periods indicated:



	Three Months Ended March 31,
	2015			2014
	(In thousands)
Gross realized gains on sales of securities available for sale	$	—		$	545
Gross realized losses on sales of securities available for sale	(2		)	(38		)
Net realized gains (losses) on sales of securities available for sale	$	(2	)	$	507
Proceeds from sales of securities available for sale	$	174		$	50,973
Tax benefit on sales of securities available for sale	$	(1	)	$	—

Summary of Investment Securities with Unrealized Losses

The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position as of the dates indicated:



	Less Than 12 Months					12 Months or Longer					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In thousands)
March 31, 2015
Available for sale
Private label residential mortgage-backed securities	$	176	$	(1	)	$	850	$	(2	)	$	1,026	$	(3	)
Agency mortgage-backed securities	33,682		(111		)	11,336		(65		)	45,018		(176		)
Total securities available for sale	$	33,858	$	(112	)	$	12,186	$	(67	)	$	46,044	$	(179	)
December 31, 2014
Available for sale
Private label residential mortgage-backed securities	$	372	$	(9	)	$	1,355	$	(4	)	$	1,727	$	(13	)
Agency mortgage-backed securities	68,200		(332		)	22,212		(273		)	90,412		(605		)
Total securities available for sale	$	68,572	$	(341	)	$	23,567	$	(277	)	$	92,139	$	(618	)