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Securities (Tables)
 9 Months Ended
Sep. 30, 2015
Securities [Abstract]  
Amortized Cost, Estimated Fair Value, and Unrealized Gains and Losses of Securities Available for Sale
The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:
 
(In thousands)
 
Amortized cost
  
Unrealized gains
  
Unrealized losses
  
Estimated fair value
 
September 30, 2015
 
  
  
  
 
Federal Agency
 
$
342,140
  
$
1,245
  
$
(122
)
 
$
343,263
 
State & municipal
  
33,140
   
510
   
(3
)
  
33,647
 
Mortgage-backed:
                
Government-sponsored enterprises
  
313,840
   
7,118
   
(105
)
  
320,853
 
U.S. government agency securities
  
14,293
   
728
   
(64
)
  
14,957
 
Collateralized mortgage obligations:
                
Government-sponsored enterprises
  
296,005
   
2,638
   
(63
)
  
298,580
 
U.S. government agency securities
  
31,302
   
485
   
(21
)
  
31,766
 
Other securities
  
12,900
   
2,531
   
(100
)
  
15,331
 
Total securities available for sale
 
$
1,043,620
  
$
15,255
  
$
(478
)
 
$
1,058,397
 
December 31, 2014
                
U.S. Treasury
 
$
23,041
  
$
70
  
$
-
  
$
23,111
 
Federal Agency
  
332,193
   
327
   
(2,606
)
  
329,914
 
State & municipal
  
37,035
   
587
   
(52
)
  
37,570
 
Mortgage-backed:
                
Government-sponsored enterprises
  
339,190
   
7,597
   
(224
)
  
346,563
 
U.S. government agency securities
  
17,367
   
863
   
(66
)
  
18,164
 
Collateralized mortgage obligations:
                
Government-sponsored enterprises
  
199,837
   
1,828
   
(234
)
  
201,431
 
U.S. government agency securities
  
40,237
   
497
   
(36
)
  
40,698
 
Other securities
  
12,818
   
3,054
   
(152
)
  
15,720
 
Total securities available for sale
 
$
1,001,718
  
$
14,823
  
$
(3,370
)
 
$
1,013,171
 
Amortized Cost, Estimated Fair Value, and Unrealized Gains and Losses of Securities Held to Maturity
The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:
 
(In thousands)
 
Amortized cost
  
Unrealized gains
  
Unrealized losses
  
Estimated fair value
 
September 30, 2015
 
  
  
  
 
Mortgage-backed:
        
     Government-sponsored enterprises
 
$
9,782
  
$
-
  
$
(25
)
 
$
9,757
 
     U.S. government agency securities
  
665
   
107
   
-
   
772
 
Collateralized mortgage obligations:
                
     Government-sponsored enterprises
  
282,966
   
4,081
   
(951
)
  
286,096
 
State & municipal
  
177,345
   
1,509
   
(43
)
  
178,811
 
Total securities held to maturity
 
$
470,758
  
$
5,697
  
$
(1,019
)
 
$
475,436
 
December 31, 2014
                
Mortgage-backed:
                
     Government-sponsored enterprises
 
$
755
  
$
113
  
$
-
  
$
868
 
Collateralized mortgage obligations:
                
     Government-sponsored enterprises
  
317,628
   
1,934
   
(1,965
)
  
317,597
 
State & municipal
  
135,978
   
674
   
(123
)
  
136,529
 
Total securities held to maturity
 
$
454,361
  
$
2,721
  
$
(2,088
)
 
$
454,994
 
Investment Securities with Unrealized Losses
The following table sets forth information with regard to investment securities with unrealized losses for the periods presented:
 
 
 
Less than 12 months
  
12 months or longer
  
Total
 
Security Type:
 
Fair Value
  
Unrealized losses
  
Number of Positions
  
Fair Value
  
Unrealized losses
  
Number of Positions
  
Fair Value
  
Unrealized losses
  
Number of Positions
 
 
 
  
  
  
  
  
  
  
  
 
September 30, 2015
 
  
  
  
  
  
  
  
  
 
Investment securities available for sale:
 
  
  
  
  
  
  
  
  
 
Federal agency
 
$
19,962
  
$
(30
)
  
2
  
$
29,908
  
$
(92
)
  
3
  
$
49,870
  
$
(122
)
  
5
 
State & municipal
  
2,957
   
(3
)
  
4
   
-
   
-
   
-
   
2,957
   
(3
)
  
4
 
Mortgage-backed
  
11,656
   
(109
)
  
14
   
4,319
   
(60
)
  
16
   
15,975
   
(169
)
  
30
 
Collateralized mortgage obligations
  
29,608
   
(62
)
  
5
   
4,340
   
(22
)
  
3
   
33,948
   
(84
)
  
8
 
Other securities
  
-
   
-
   
-
   
3,931
   
(100
)
  
3
   
3,931
   
(100
)
  
3
 
Total securities with unrealized losses
 
$
64,183
  
$
(204
)
  
25
  
$
42,498
  
$
(274
)
  
25
  
$
106,681
  
$
(478
)
  
50
 
 
                                    
September 30, 2015
                                    
Investment securities held to maturity:
                                    
Mortgage-backed
 
$
9,757
  
$
(25
)
  
1
  
$
-
  
$
-
   
-
  
$
9,757
  
$
(25
)
  
1
 
Collateralized mortgage obligations
  
-
   
-
   
-
   
43,127
   
(951
)
  
4
   
43,127
   
(951
)
  
4
 
State & municipal
  
6,313
   
(43
)
  
11
   
-
   
-
   
-
   
6,313
   
(43
)
  
11
 
Total securities with unrealized losses
 
$
16,070
  
$
(68
)
  
12
  
$
43,127
  
$
(951
)
  
4
  
$
59,197
  
$
(1,019
)
  
16
 
                                     
December 31, 2014
                                    
Investment securities available for sale:
                                    
Federal agency
 
$
66,528
  
$
(226
)
  
8
  
$
198,151
  
$
(2,380
)
  
16
  
$
264,679
  
$
(2,606
)
  
24
 
State & municipal
  
8,818
   
(42
)
  
33
   
1,321
   
(10
)
  
5
   
10,139
   
(52
)
  
38
 
Mortgage-backed
  
10,400
   
(36
)
  
10
   
35,565
   
(254
)
  
31
   
45,965
   
(290
)
  
41
 
Collateralized mortgage obligations
  
57,682
   
(196
)
  
8
   
6,598
   
(74
)
  
4
   
64,280
   
(270
)
  
12
 
Other securities
  
-
   
-
   
-
   
3,201
   
(152
)
  
2
   
3,201
   
(152
)
  
2
 
Total securities with unrealized losses
 
$
143,428
  
$
(500
)
  
59
  
$
244,836
  
$
(2,870
)
  
58
  
$
388,264
  
$
(3,370
)
  
117
 
 
                                    
December 31, 2014
                                    
Investment securities held to maturity:
                                    
Collateralized mortgage obligations
 
$
26,052
  
$
(49
)
  
2
  
$
46,415
  
$
(1,916
)
  
4
  
$
72,467
  
$
(1,965
)
  
6
 
State & municipal
  
43,514
   
(116
)
  
110
   
1,619
   
(7
)
  
6
   
45,133
   
(123
)
  
116
 
Total securities with unrealized losses
 
$
69,566
  
$
(165
)
  
112
  
$
48,034
  
$
(1,923
)
  
10
  
$
117,600
  
$
(2,088
)
  
122
 
Contractual Maturities of Debt Securities
The following tables set forth information with regard to contractual maturities of debt securities at September 30, 2015:
 
(In thousands)
 
Amortized cost
  
Estimated fair value
 
Debt securities classified as available for sale
 
  
 
Within one year
 
$
4,031
  
$
4,058
 
From one to five years
  
369,188
   
371,294
 
From five to ten years
  
137,908
   
140,701
 
After ten years
  
519,593
   
527,013
 
 
 
$
1,030,720
  
$
1,043,066
 
Debt securities classified as held to maturity
        
Within one year
 
$
42,420
  
$
42,427
 
From one to five years
  
15,186
   
15,260
 
From five to ten years
  
107,816
   
109,043
 
After ten years
  
305,336
   
308,706
 
 
 
$
470,758
  
$
475,436