SECURITIES (Tables)

9 Months Ended

Sep. 30, 2016

Summary of amortized cost and fair value of the available for sale and held to maturity

	September 30, 2016
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
*(In thousands)*	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	64,993	$	102	$	(7	)	$	65,088
State and municipal obligations		115,643		1,772		(129	)		117,286
U.S. GSE residential mortgage-backed securities		103,897		1,424		(44	)		105,277
U.S. GSE residential collateralized mortgage obligations		264,866		1,014		(625	)		265,255
U.S. GSE commercial mortgage-backed securities		6,448		189		-			6,637
U.S. GSE commercial collateralized mortgage obligations		54,026		337		(91	)		54,272
Other asset backed securities		24,250		-		(1,940	)		22,310
Corporate bonds		32,000		-		(1,124	)		30,876
Total available for sale		666,123		4,838		(3,960	)		667,001

Held to maturity:
State and municipal obligations		64,058		2,791		(5	)		66,844
U.S. GSE residential mortgage-backed securities		13,914		100		-			14,014
U.S. GSE residential collateralized mortgage obligations		66,699		1,203		(44	)		67,858
U.S. GSE commercial mortgage-backed securities		28,947		684		(57	)		29,574
U.S. GSE commercial collateralized mortgage obligations		42,648		722		(124	)		43,246
Corporate bonds		11,000		35		-			11,035
Total held to maturity		227,266		5,535		(230	)		232,571
Total securities	$	893,389	$	10,373	$	(4,190	)	$	899,572

	December 31, 2015
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
(In thousands)	Cost		Gains		Losses			Value
Available for sale:
U.S. GSE securities	$	63,238	$	-	$	(564	)	$	62,674
State and municipal obligations		87,830		427		(322	)		87,935
U.S. GSE residential mortgage-backed securities		201,297		237		(1,270	)		200,264
U.S. GSE residential collateralized mortgage obligations		321,253		513		(3,888	)		317,878
U.S. GSE commercial mortgage-backed securities		12,491		7		(80	)		12,418
U.S. GSE commercial collateralized mortgage obligations		64,809		9		(620	)		64,198
Other asset backed securities		24,250		-		(1,879	)		22,371
Corporate bonds		33,000		-		(535	)		32,465
Total available for sale		808,168		1,193		(9,158	)		800,203

Held to maturity:
U.S. GSE securities	$	7,466	$	1	$	-		$	7,467
State and municipal obligations		64,878		1,715		(113	)		66,480
U.S. GSE residential mortgage-backed securities		7,609		-		(106	)		7,503
U.S. GSE residential collateralized mortgage obligations		60,933		617		(498	)		61,052
U.S. GSE commercial mortgage-backed securities		23,056		210		(313	)		22,953
U.S. GSE commercial collateralized mortgage obligations		33,409		282		(185	)		33,506
Corporate bonds		11,000		42		-			11,042
Total held to maturity		208,351		2,867		(1,215	)		210,003
Total securities	$	1,016,519	$	4,060	$	(10,373	)	$	1,010,206

Summary of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio

	September 30, 2016
(In thousands)	Amortized Cost		Fair Value
Maturity
Available for sale:
Within one year	$	14,715	$	14,727
One to five years		71,930		72,220
Five to ten years		135,976		136,360
Beyond ten years		443,502		443,694
Total	$	666,123	$	667,001

Held to maturity:
Within one year	$	18,380	$	18,426
One to five years		20,940		21,500
Five to ten years		66,494		69,318
Beyond ten years		121,452		123,327
Total	$	227,266	$	232,571

Securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months

	September 30, 2016
	Less than 12 months					Greater than 12 months
			Unrealized					Unrealized
(In thousands)	Fair Value		Losses			Fair Value		Losses
Available for sale:
U.S. GSE securities	$	16,993	$	(7	)	$	-	$	-
State and municipal obligations		34,556		(128	)		241		(1	)
U.S. GSE residential mortgage-backed securities		9,343		(40	)		245		(4	)
U.S. GSE residential collateralized mortgage obligations		116,196		(495	)		16,863		(130	)
U.S. GSE commercial mortgage-backed securities		-		-			-		-
U.S. GSE commercial collateralized mortgage obligations		13,051		(41	)		7,060		(50	)
Other asset backed securities		-		-			22,310		(1,940	)
Corporate bonds		21,244		(755	)		9,631		(369	)
Total available for sale		211,383		(1,466	)		56,350		(2,494	)

Held to maturity:
State and municipal obligations		2,745		(5	)		-		-
U.S. GSE residential mortgage-backed securities		-		-			-		-
U.S. GSE residential collateralized mortgage obligations		4,907		(3	)		4,168		(41	)
U.S. GSE commercial mortgage-backed securities		6,120		(57	)		-		-
U.S. GSE commercial collateralized mortgage obligations		10,007		(79	)		3,945		(45	)
Corporate bonds		-		-			-		-
Total held to maturity	$	23,779	$	(144	)	$	8,113	$	(86	)

	December 31, 2015
	Less than 12 months					Greater than 12 months
			Unrealized					Unrealized
(In thousands)	Fair Value		Losses			Fair Value		Losses
Available for sale:
U.S. GSE securities	$	37,759	$	(235	)	$	24,914	$	(329	)
State and municipal obligations		39,621		(298	)		5,118		(24	)
U.S. GSE residential mortgage-backed securities		136,025		(1,224	)		1,510		(46	)
U.S. GSE residential collateralized mortgage obligations		187,543		(1,781	)		66,830		(2,107	)
U.S. GSE commercial mortgage-backed securities		8,594		(80	)		-		-
U.S. GSE commercial collateralized mortgage obligations		51,178		(503	)		10,034		(117	)
Other asset backed securities		-		-			22,371		(1,879	)
Corporate bonds		27,640		(360	)		4,825		(175	)
Total available for sale	$	488,360	$	(4,481	)	$	135,602	$	(4,677	)

Held to maturity:
U.S. GSE securities	$	-	$	-		$	-	$	-
State and municipal obligations		18,375		(113	)		-		-
U.S. GSE residential mortgage-backed securities		7,503		(106	)		-		-
U.S. GSE residential collateralized mortgage obligations		15,918		(149	)		15,679		(349	)
U.S. GSE commercial mortgage-backed securities		13,982		(313	)		-		-
U.S. GSE commercial collateralized mortgage obligations		7,912		(8	)		3,813		(177	)
Corporate bonds		-		-			-		-
Total held to maturity	$	63,690	$	(689	)	$	19,492	$	(526	)