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SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract] |
Summary of securities available for sale ("AFS") and securities | The following is a summary of securities available for sale (“AFS”) and securities held to maturity (“HTM”):
(In thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 117,910 |  |  | $ | 2,955 |  |  | $ | (1,049 | ) |  | $ | 119,816 |
Agency collateralized mortgage obligations |  | 652,680 |  |  | 2,522 |  |  | (3,291 | ) |  | 651,911 |
Agency mortgage-backed securities |  | 230,308 |  |  | 557 |  |  | (2,181 | ) |  | 228,684 |
Agency commercial mortgage-backed securities |  | 65,673 |  |  | 229 |  |  | (1,368 | ) |  | 64,534 |
Corporate bonds |  | 56,320 |  |  | 408 |  |  | (722 | ) |  | 56,006 |
Trust preferred securities |  | 11,578 |  |  | 368 |  |  | (59 | ) |  | 11,887 |
Other bonds and obligations |  | 10,979 |  |  | 195 |  |  | (16 | ) |  | 11,158 |
Total debt securities |  | 1,145,448 |  |  | 7,234 |  |  | (8,686 | ) |  | 1,143,996 |
Marketable equity securities |  | 47,858 |  |  | 19,296 |  |  | (1,613 | ) |  | 65,541 |
Total securities available for sale |  | 1,193,306 |  |  | 26,530 |  |  | (10,299 | ) |  | 1,209,537 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 203,463 |  |  | 3,939 |  |  | (2,416 | ) |  | 204,986 |
Agency collateralized mortgage obligations |  | 75,655 |  |  | 1,281 |  |  | (411 | ) |  | 76,525 |
Agency mortgage-backed securities |  | 9,102 |  |  | — |  |  | (243 | ) |  | 8,859 |
Agency commercial mortgage-backed securities |  | 10,545 |  |  | — |  |  | (434 | ) |  | 10,111 |
Tax advantaged economic development bonds |  | 35,278 |  |  | 1,596 |  |  | — |  |  | 36,874 |
Other bonds and obligations |  | 325 |  |  | — |  |  | — |  |  | 325 |
Total securities held to maturity |  | 334,368 |  |  | 6,816 |  |  | (3,504 | ) |  | 337,680 |
Total |  | $ | 1,527,674 |  |  | $ | 33,346 |  |  | $ | (13,803 | ) |  | $ | 1,547,217 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 99,922 |  |  | $ | 4,763 |  |  | $ | (124 | ) |  | $ | 104,561 |
Agency collateralized mortgage obligations |  | 833,633 |  |  | 4,957 |  |  | (5,554 | ) |  | 833,036 |
Agency mortgage-backed securities |  | 127,274 |  |  | 542 |  |  | (987 | ) |  | 126,829 |
Agency commercial mortgage-backed securities |  | — |  |  | — |  |  | — |  |  | — |
Corporate bonds |  | 42,849 |  |  | — |  |  | (1,826 | ) |  | 41,023 |
Trust preferred securities |  | 11,719 |  |  | 182 |  |  | (1 | ) |  | 11,900 |
Other bonds and obligations |  | 3,175 |  |  | — |  |  | (34 | ) |  | 3,141 |
Total debt securities |  | 1,118,572 |  |  | 10,444 |  |  | (8,526 | ) |  | 1,120,490 |
Marketable equity securities |  | 30,522 |  |  | 5,331 |  |  | (1,886 | ) |  | 33,967 |
Total securities available for sale |  | 1,149,094 |  |  | 15,775 |  |  | (10,412 | ) |  | 1,154,457 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 94,642 |  |  | 3,359 |  |  | (34 | ) |  | 97,967 |
Agency collateralized mortgage-backed securities |  | 68 |  |  | 3 |  |  | — |  |  | 71 |
Tax advantaged economic development bonds |  | 36,613 |  |  | 1,924 |  |  | — |  |  | 38,537 |
Other bonds and obligations |  | 329 |  |  | — |  |  | — |  |  | 329 |
Total securities held to maturity |  | 131,652 |  |  | 5,286 |  |  | (34 | ) |  | 136,904 |
Total |  | $ | 1,280,746 |  |  | $ | 21,061 |  |  | $ | (10,446 | ) |  | $ | 1,291,361 |
Schedule of amortized cost and estimated fair value of available for sale (AFS) and held to maturity (HTM) securities, segregated by contractual maturity | The amortized cost and estimated fair value of available for sale (AFS) and held to maturity (HTM) securities, segregated by contractual maturity at year-end 2016 are presented below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Mortgage-backed securities are shown in total, as their maturities are highly variable. Equity securities have no maturity and are also shown in total.
|  | Available for sale |  | Held to maturity
(In thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Within 1 year |  | $ | — |  |  | $ | — |  |  | $ | 1,803 |  |  | $ | 1,806 |
Over 1 year to 5 years |  | 25,697 |  |  | 26,042 |  |  | 19,674 |  |  | 20,494 |
Over 5 years to 10 years |  | 48,637 |  |  | 49,397 |  |  | 17,502 |  |  | 17,968 |
Over 10 years |  | 122,453 |  |  | 123,428 |  |  | 200,087 |  |  | 201,917 |
Total bonds and obligations |  | 196,787 |  |  | 198,867 |  |  | 239,066 |  |  | 242,185 |
Marketable equity securities |  | 47,858 |  |  | 65,541 |  |  | — |  |  | — |
Mortgage-backed securities |  | 948,661 |  |  | 945,129 |  |  | 95,302 |  |  | 95,495 |
Total |  | $ | 1,193,306 |  |  | $ | 1,209,537 |  |  | $ | 334,368 |  |  | $ | 337,680 |
Schedule of amortized cost and fair values of pledged securities | The total amortized cost and fair values of these pledged securities follows. Additionally, there is a blanket lien on certain securities to collateralize borrowings from the FHLBB, as discussed further in Note 12 - Borrowed Funds.
|  | 2016 |  | 2015
(In thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Securities pledged to swap counterparties |  | $ | 51,292 |  |  | $ | 51,290 |  |  | $ | 27,687 |  |  | $ | 27,626 |
Securities pledged for municipal deposits |  | 147,950 |  |  | 148,435 |  |  | 134,865 |  |  | 135,755 |
Total |  | $ | 199,242 |  |  | $ | 199,725 |  |  | $ | 162,552 |  |  | $ | 163,381 |
Schedule of components of net realized gains and losses on the sale of AFS securities | The components of net realized gains and losses on the sale of AFS securities are as follows. These amounts were reclassified out of accumulated other comprehensive loss and into earnings:
(In thousands) |  | 2016 |  | 2015 |  | 2014
Gross realized gains |  | $ | 2,762 |  |  | $ | 4,567 |  |  | $ | 2,601 |
Gross realized losses |  | (3,313 | ) |  | (2,457 | ) |  | (2,119 | )
Net realized (losses)/gains |  | $ | (551 | ) |  | $ | 2,110 |  |  | $ | 482 |
Schedule of securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions | Securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions, are summarized as follows:
|  | Less Than Twelve Months |  | Over Twelve Months |  | Total
(In thousands) |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 1,049 |  |  | $ | 13,839 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,049 |  |  | $ | 13,839 |
Agency collateralized mortgage obligations |  | 3,291 |  |  | 319,448 |  |  | — |  |  | — |  |  | 3,291 |  |  | 319,448 |
Agency mortgage-backed securities |  | 2,153 |  |  | 130,766 |  |  | 28 |  |  | 2,061 |  |  | 2,181 |  |  | 132,827 |
Agency commercial mortgage-back securities |  | 1,368 |  |  | 44,860 |  |  | — |  |  | — |  |  | 1,368 |  |  | 44,860 |
Corporate bonds |  | 11 |  |  | 4,780 |  |  | 711 |  |  | 19,655 |  |  | 722 |  |  | 24,435 |
Trust preferred securities |  | — |  |  | — |  |  | 59 |  |  | 1,204 |  |  | 59 |  |  | 1,204 |
Other bonds and obligations |  | 15 |  |  | 3,014 |  |  | 1 |  |  | 27 |  |  | 16 |  |  | 3,041 |
Total debt securities |  | 7,887 |  |  | 516,707 |  |  | 799 |  |  | 22,947 |  |  | 8,686 |  |  | 539,654 |
Marketable equity securities |  | 157 |  |  | 6,600 |  |  | 1,456 |  |  | 5,927 |  |  | 1,613 |  |  | 12,527 |
Total securities available for sale |  | $ | 8,044 |  |  | $ | 523,307 |  |  | $ | 2,255 |  |  | $ | 28,874 |  |  | $ | 10,299 |  |  | $ | 552,181 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | 2,416 |  |  | 69,308 |  |  | — |  |  | — |  |  | 2,416 |  |  | 69,308 |
Agency collateralized mortgage obligations |  | 411 |  |  | 14,724 |  |  | — |  |  | — |  |  | 411 |  |  | 14,724 |
Agency mortgage-backed securities |  | 243 |  |  | 8,859 |  |  | — |  |  | — |  |  | 243 |  |  | 8,859 |
Agency commercial mortgage-back securities |  | 434 |  |  | 10,111 |  |  | — |  |  | — |  |  | 434 |  |  | 10,111 |
Total securities held to maturity |  | 3,504 |  |  | 103,002 |  |  | — |  |  | — |  |  | 3,504 |  |  | 103,002 |
Total |  | $ | 11,548 |  |  | $ | 626,309 |  |  | $ | 2,255 |  |  | $ | 28,874 |  |  | $ | 13,803 |  |  | $ | 655,183 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | $ | 9 |  |  | $ | 1,587 |  |  | $ | 115 |  |  | $ | 3,400 |  |  | $ | 124 |  |  | $ | 4,987 |
Agency collateralized mortgage obligations |  | 2,958 |  |  | 304,907 |  |  | 2,596 |  |  | 136,988 |  |  | 5,554 |  |  | 441,895 |
Agency mortgage-backed securities |  | 306 |  |  | 34,543 |  |  | 681 |  |  | 35,522 |  |  | 987 |  |  | 70,065 |
Corporate bonds |  | 30 |  |  | 6,934 |  |  | 1,796 |  |  | 21,587 |  |  | 1,826 |  |  | 28,521 |
Trust preferred securities |  | 1 |  |  | 1,269 |  |  | — |  |  | — |  |  | 1 |  |  | 1,269 |
Other bonds and obligations |  | — |  |  | 108 |  |  | 34 |  |  | 3,032 |  |  | 34 |  |  | 3,140 |
Total debt securities |  | 3,304 |  |  | 349,348 |  |  | 5,222 |  |  | 200,529 |  |  | 8,526 |  |  | 549,877 |
Marketable equity securities |  | 534 |  |  | 2,908 |  |  | 1,352 |  |  | 5,729 |  |  | 1,886 |  |  | 8,637 |
Total securities available for sale |  | $ | 3,838 |  |  | $ | 352,256 |  |  | $ | 6,574 |  |  | $ | 206,258 |  |  | $ | 10,412 |  |  | $ | 558,514 |
Securities held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds and obligations |  | — |  |  | — |  |  | 34 |  |  | 2,143 |  |  | 34 |  |  | 2,143 |
Total securities held to maturity |  | — |  |  | — |  |  | 34 |  |  | 2,143 |  |  | 34 |  |  | 2,143 |
Total |  | $ | 3,838 |  |  | $ | 352,256 |  |  | $ | 6,608 |  |  | $ | 208,401 |  |  | $ | 10,446 |  |  | $ | 560,657 |

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