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SECURITIES (Tables) | 6 Months Ended
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Jun. 30, 2015
SECURITIES |
Summary of the Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity |
|  | June 30, 2015 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 68,015 |  |  | $ | 42 |  |  | $ | (821 | ) |  | $ | 67,236 |
State and municipal obligations |  |  | 72,454 |  |  |  | 206 |  |  |  | (313 | ) |  |  | 72,347 |
U.S. GSE residential mortgage-backed securities |  |  | 162,236 |  |  |  | 387 |  |  |  | (619 | ) |  |  | 162,004 |
U.S. GSE residential collateralized mortgage obligations |  |  | 235,102 |  |  |  | 1,069 |  |  |  | (2,454 | ) |  |  | 233,717 |
U.S. GSE commercial mortgage-backed securities |  |  | 12,607 |  |  |  | 20 |  |  |  | (48 | ) |  |  | 12,579 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 31,066 |  |  |  | 6 |  |  |  | (158 | ) |  |  | 30,914 |
Other Asset backed securities |  |  | 24,247 |  |  |  | - |  |  |  | (1,210 | ) |  |  | 23,037 |
Corporate Bonds |  |  | 17,956 |  |  |  | 10 |  |  |  | (328 | ) |  |  | 17,638 |
Total available for sale |  |  | 623,683 |  |  |  | 1,740 |  |  |  | (5,951 | ) |  |  | 619,472 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  |  | 11,298 |  |  |  | 178 |  |  |  | - |  |  |  | 11,476 |
State and municipal obligations |  |  | 62,255 |  |  |  | 1,760 |  |  |  | (263 | ) |  |  | 63,752 |
U.S. GSE residential mortgage-backed securities |  |  | 8,413 |  |  |  | - |  |  |  | (106 | ) |  |  | 8,307 |
U.S. GSE residential collateralized mortgage obligations |  |  | 60,031 |  |  |  | 573 |  |  |  | (758 | ) |  |  | 59,846 |
U.S. GSE commercial mortgage-backed securities |  |  | 23,244 |  |  |  | 172 |  |  |  | (329 | ) |  |  | 23,087 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 33,536 |  |  |  | 314 |  |  |  | (235 | ) |  |  | 33,615 |
Corporate Bonds |  |  | 22,979 |  |  |  | 94 |  |  |  | (8 | ) |  |  | 23,065 |
Total held to maturity |  |  | 221,756 |  |  |  | 3,091 |  |  |  | (1,699 | ) |  |  | 223,148 |
Total securities |  | $ | 845,439 |  |  | $ | 4,831 |  |  | $ | (7,650 | ) |  | $ | 842,620 |
|  | December 31, 2014 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 97,560 |  |  | $ | 4 |  |  | $ | (2,139 | ) |  | $ | 95,425 |
State and municipal obligations |  |  | 63,583 |  |  |  | 318 |  |  |  | (208 | ) |  |  | 63,693 |
U.S. GSE residential mortgage-backed securities |  |  | 100,931 |  |  |  | 534 |  |  |  | (40 | ) |  |  | 101,425 |
U.S. GSE residential collateralized mortgage obligations |  |  | 261,256 |  |  |  | 310 |  |  |  | (2,967 | ) |  |  | 258,599 |
U.S. GSE commercial mortgage-backed securities |  |  | 3,016 |  |  |  | - |  |  |  | (71 | ) |  |  | 2,945 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 24,179 |  |  |  | 44 |  |  |  | (141 | ) |  |  | 24,082 |
Other Asset backed securities |  |  | 24,190 |  |  |  | - |  |  |  | (1,153 | ) |  |  | 23,037 |
Corporate Bonds |  |  | 17,952 |  |  |  | 161 |  |  |  | (135 | ) |  |  | 17,978 |
Total available for sale |  |  | 592,667 |  |  |  | 1,371 |  |  |  | (6,854 | ) |  |  | 587,184 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  |  | 11,283 |  |  |  | 135 |  |  |  | (41 | ) |  |  | 11,377 |
State and municipal obligations |  |  | 64,864 |  |  |  | 1,658 |  |  |  | (98 | ) |  |  | 66,424 |
U.S. GSE residential mortgage-backed securities |  |  | 6,667 |  |  |  | - |  |  |  | (97 | ) |  |  | 6,570 |
U.S. GSE residential collateralized mortgage obligations |  |  | 59,539 |  |  |  | 507 |  |  |  | (862 | ) |  |  | 59,184 |
U.S. GSE commercial mortgage-backed securities |  |  | 13,213 |  |  |  | 233 |  |  |  | (26 | ) |  |  | 13,420 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 36,413 |  |  |  | 267 |  |  |  | (431 | ) |  |  | 36,249 |
Corporate Bonds |  |  | 22,948 |  |  |  | 139 |  |  |  | (22 | ) |  |  | 23,065 |
Total held to maturity |  |  | 214,927 |  |  |  | 2,939 |  |  |  | (1,577 | ) |  |  | 216,289 |
Total securities |  | $ | 807,594 |  |  | $ | 4,310 |  |  | $ | (8,431 | ) |  | $ | 803,473 |
Summary of Available-for-Sale and Held-to-Maturity Securities by Contractual Maturity |
|  | June 30, 2015 |
|  | Amortized |  |  | Fair |
(In thousands) |  | Cost |  |  | Value |
Maturity |  |  |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |
Within one year |  | $ | 6,643 |  |  | $ | 6,660 |
One to five years |  |  | 72,672 |  |  |  | 72,428 |
Five to ten years |  |  | 100,252 |  |  |  | 99,298 |
Beyond ten years |  |  | 444,116 |  |  |  | 441,086 |
Total |  | $ | 623,683 |  |  | $ | 619,472 |
Held to maturity: |  |  |  |  |  |  |  |
Within one year |  | $ | 18,314 |  |  | $ | 18,347 |
One to five years |  |  | 33,688 |  |  |  | 33,948 |
Five to ten years |  |  | 62,646 |  |  |  | 63,953 |
Beyond ten years |  |  | 107,108 |  |  |  | 106,900 |
Total |  | $ | 221,756 |  |  | $ | 223,148 |
Securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months |
|  | Less than 12 months |  |  | Greater than 12 months |
June 30, 2015 |  |  |  |  | Unrealized |  |  |  |  |  | Unrealized |
(In thousands) |  | Fair Value |  |  | losses |  |  | Fair Value |  |  | losses |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 32,667 |  |  | $ | 331 |  |  | $ | 29,748 |  |  | $ | 490 |
State and municipal obligations |  |  | 41,013 |  |  |  | 285 |  |  |  | 5,492 |  |  |  | 28 |
U.S. GSE residential mortgage-backed securities |  |  | 73,581 |  |  |  | 565 |  |  |  | 1,520 |  |  |  | 54 |
U.S. GSE residential collateralized mortgage obligations |  |  | 62,629 |  |  |  | 485 |  |  |  | 75,427 |  |  |  | 1,969 |
U.S. GSE commercial mortgage-backed securities |  |  | 2,732 |  |  |  | 48 |  |  |  | - |  |  |  | - |
U.S. GSE commercial collateralized mortgage obligations |  |  | 13,753 |  |  |  | 93 |  |  |  | 10,295 |  |  |  | 65 |
Other Asset backed securities |  |  | 23,038 |  |  |  | 1,210 |  |  |  | - |  |  |  | - |
Corporate Bonds |  |  | 9,697 |  |  |  | 303 |  |  |  | 4,975 |  |  |  | 25 |
Total available for sale |  |  | 259,110 |  |  |  | 3,320 |  |  |  | 127,457 |  |  |  | 2,631 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
State and municipal obligations |  |  | 15,488 |  |  |  | 263 |  |  |  | - |  |  |  | - |
U.S. GSE residential mortgage-backed securities |  |  | 8,307 |  |  |  | 106 |  |  |  | - |  |  |  | - |
U.S. GSE residential collateralized mortgage obligations |  |  | 14,844 |  |  |  | 159 |  |  |  | 19,821 |  |  |  | 599 |
U.S. GSE commercial mortgage-backed securities |  |  | 14,035 |  |  |  | 329 |  |  |  | - |  |  |  | - |
U.S. GSE commercial collateralized mortgage obligations |  |  | 4,946 |  |  |  | 36 |  |  |  | 3,790 |  |  |  | 199 |
Corporate Bonds |  |  | 6,994 |  |  |  | 6 |  |  |  | 1,997 |  |  |  | 2 |
Total held to maturity |  | $ | 64,614 |  |  | $ | 899 |  |  | $ | 25,608 |  |  | $ | 800 |
|  | Less than 12 months |  |  | Greater than 12 months |
December 31, 2014 |  |  |  |  | Unrealized |  |  |  |  |  | Unrealized |
(In thousands) |  | Fair Value |  |  | losses |  |  | Fair Value |  |  | losses |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 4,991 |  |  | $ | 8 |  |  | $ | 90,233 |  |  | $ | 2,131 |
State and municipal obligations |  |  | 12,330 |  |  |  | 79 |  |  |  | 14,592 |  |  |  | 129 |
U.S. GSE residential mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 1,554 |  |  |  | 40 |
U.S. GSE residential collateralized mortgage obligations |  |  | 60,126 |  |  |  | 349 |  |  |  | 122,179 |  |  |  | 2,618 |
U.S. GSE commercial mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 2,944 |  |  |  | 71 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 13,830 |  |  |  | 108 |  |  |  | 4,636 |  |  |  | 33 |
Other Asset backed securities |  |  | 23,038 |  |  |  | 1,153 |  |  |  | - |  |  |  | - |
Corporate Bonds |  |  | 9,865 |  |  |  | 135 |  |  |  | - |  |  |  | - |
Total available for sale |  |  | 124,180 |  |  |  | 1,832 |  |  |  | 236,138 |  |  |  | 5,022 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  |  | - |  |  |  | - |  |  |  | 7,414 |  |  |  | 41 |
State and municipal obligations |  |  | 11,343 |  |  |  | 97 |  |  |  | 202 |  |  |  | 1 |
U.S. GSE residential mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 6,569 |  |  |  | 97 |
U.S. GSE residential collateralized mortgage obligations |  |  | 10,422 |  |  |  | 46 |  |  |  | 30,413 |  |  |  | 816 |
U.S. GSE commercial mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 4,188 |  |  |  | 26 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 14,392 |  |  |  | 73 |  |  |  | 8,611 |  |  |  | 358 |
Corporate Bonds |  |  | 3,978 |  |  |  | 22 |  |  |  | - |  |  |  | - |
Total held to maturity |  | $ | 40,135 |  |  | $ | 238 |  |  | $ | 57,397 |  |  | $ | 1,339 |

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