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Securities (Tables)
 12 Months Ended
Dec. 31, 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
 
December 31, 2015
 
  
  
  
 
Federal agency
 
$
312,580
  
$
203
  
$
1,511
  
$
311,272
 
State & municipal
  
31,208
   
446
   
17
   
31,637
 
Mortgage-backed:
                
Government-sponsored enterprises
  
398,086
   
4,141
   
1,068
   
401,159
 
U.S. government agency securities
  
8,191
   
560
   
14
   
8,737
 
Collateralized mortgage obligations:
                
Government-sponsored enterprises
  
364,936
   
931
   
1,828
   
364,039
 
U.S. government agency securities
  
40,699
   
348
   
115
   
40,932
 
Other securities
  
13,637
   
3,249
   
118
   
16,768
 
Total securities available for sale
 
$
1,169,337
  
$
9,878
  
$
4,671
  
$
1,174,544
 
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 securities
  
17,367
   
863
   
66
   
18,164
 
Collateralized mortgage obligations:
                
Government-sponsored enterprises
  
199,837
   
1,828
   
234
   
201,431
 
U.S. government 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
 
Schedule of sales transactions of securities available for sale
The following table sets forth information with regard to sales transactions of securities available for sale:

 
Years ended December 31
 
(In thousands)
2015
 
2014
 
2013
 
Proceeds from sales
 
$
15,091
  
$
189
  
$
27,593
 
Gross realized gains
  
3,034
   
49
   
1,283
 
Net securities gains
 
$
3,034
  
$
49
  
$
1,283
 
 
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
 
December 31, 2015
 
  
  
  
 
Mortgage-backed
        
     Government-sponsored enterprises
 
$
9,432
   
-
  
$
107
  
$
9,325
 
     U.S. government agency securities
  
611
   
95
   
-
   
706
 
Collateralized mortgage obligations
                
     Government-sponsored enterprises
  
272,550
   
1,411
   
1,560
   
272,401
 
State & municipal
  
188,438
   
2,288
   
18
   
190,708
 
Total securities held to maturity
 
$
471,031
  
$
3,794
  
$
1,685
  
$
473,140
 
December 31, 2014
                
Mortgage-backed
                
     U.S. government agency securities
 
$
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 at December 31, 2015 and 2014, segregated according to the length of time the securities had been in a continuous unrealized loss position:

 
 
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
 
 
 
  
  
  
  
  
  
  
  
 
December 31, 2015
 
  
  
  
  
  
  
  
  
 
Investment securities available for sale:
  
  
  
  
  
  
  
 
Federal agency
 
$
186,685
  
$
(1,312
)
  
15
  
$
19,801
  
$
(199
)
  
2
  
$
206,486
  
$
(1,511
)
  
17
 
State & municipal
  
4,599
   
(14
)
  
7
   
502
   
(3
)
  
1
   
5,101
   
(17
)
  
8
 
Mortgage-backed
  
177,270
   
(1,068
)
  
33
   
1,066
   
(14
)
  
5
   
178,336
   
(1,082
)
  
38
 
Collateralized mortgage obligations
  
256,265
   
(1,889
)
  
24
   
5,218
   
(54
)
  
2
   
261,483
   
(1,943
)
  
26
 
Other securities
  
-
   
-
   
-
   
3,235
   
(118
)
  
2
   
3,235
   
(118
)
  
2
 
Total securities with unrealized losses
 
$
624,819
  
$
(4,283
)
  
79
  
$
29,822
  
$
(388
)
  
12
  
$
654,641
  
$
(4,671
)
  
91
 
 
                                    
December 31, 2015
                                    
Investment securities held to maturity:
                                    
Mortgage-backed
 
$
9,325
  
$
(107
)
  
1
  
$
-
  
$
-
   
-
  
$
9,325
  
$
(107
)
  
1
 
Collateralized mortgage obligations
  
105,604
   
(281
)
  
12
   
41,523
   
(1,279
)
  
4
   
147,127
   
(1,560
)
  
16
 
State & municipal
  
2,200
   
(18
)
  
3
   
-
   
-
   
-
   
2,200
   
(18
)
  
3
 
Total securities with unrealized losses
 
$
117,129
  
$
(406
)
  
16
  
$
41,523
  
$
(1,279
)
  
4
  
$
158,652
  
$
(1,685
)
  
20
 
 
                                    
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 December 31, 2015:

(In thousands)
 
Amortized
cost
  
Estimated fair
value
 
Debt securities classified as available for sale
 
  
 
Within one year
 
$
3,462
  
$
3,502
 
From one to five years
  
348,921
   
348,512
 
From five to ten years
  
147,139
   
149,185
 
After ten years
  
656,178
   
656,577
 
 
 
$
1,155,700
  
$
1,157,776
 
Debt securities classified as held to maturity
        
Within one year
 
$
43,624
  
$
43,641
 
From one to five years
  
14,179
   
14,226
 
From five to ten years
  
113,799
   
115,691
 
After ten years
  
299,429
   
299,582
 
 
 
$
471,031
  
$
473,140