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SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2018
SECURITIES |
Schedule of amortized cost and fair value of the available for sale and held to maturity |
|  | March 31, 2018 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 57,995 |  |  | $ | - |  |  | $ | (1,957 | ) |  | $ | 56,038 |
State and municipal obligations |  |  | 86,127 |  |  |  | 54 |  |  |  | (1,335 | ) |  |  | 84,846 |
U.S. GSE residential mortgage-backed securities |  |  | 181,005 |  |  |  | 4 |  |  |  | (5,442 | ) |  |  | 175,567 |
U.S. GSE residential collateralized mortgage obligations |  |  | 300,907 |  |  |  | - |  |  |  | (10,233 | ) |  |  | 290,674 |
U.S. GSE commercial mortgage-backed securities |  |  | 5,976 |  |  |  | - |  |  |  | (120 | ) |  |  | 5,856 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 48,370 |  |  |  | - |  |  |  | (1,878 | ) |  |  | 46,492 |
Other asset backed securities |  |  | 24,250 |  |  |  | - |  |  |  | (849 | ) |  |  | 23,401 |
Corporate bonds |  |  | 46,000 |  |  |  | - |  |  |  | (2,818 | ) |  |  | 43,182 |
Total available for sale |  |  | 750,630 |  |  |  | 58 |  |  |  | (24,632 | ) |  |  | 726,056 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 58,511 |  |  |  | 586 |  |  |  | (260 | ) |  |  | 58,837 |
U.S. GSE residential mortgage-backed securities |  |  | 10,988 |  |  |  | - |  |  |  | (433 | ) |  |  | 10,555 |
U.S. GSE residential collateralized mortgage obligations |  |  | 52,603 |  |  |  | 137 |  |  |  | (1,153 | ) |  |  | 51,587 |
U.S. GSE commercial mortgage-backed securities |  |  | 22,751 |  |  |  | - |  |  |  | (719 | ) |  |  | 22,032 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 31,236 |  |  |  | - |  |  |  | (1,370 | ) |  |  | 29,866 |
Total held to maturity |  |  | 176,089 |  |  |  | 723 |  |  |  | (3,935 | ) |  |  | 172,877 |
Total securities |  | $ | 926,719 |  |  | $ | 781 |  |  | $ | (28,567 | ) |  | $ | 898,933 |
|  | December 31, 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 57,994 |  |  | $ | - |  |  | $ | (1,180 | ) |  | $ | 56,814 |
State and municipal obligations |  |  | 87,582 |  |  |  | 259 |  |  |  | (819 | ) |  |  | 87,022 |
U.S. GSE residential mortgage-backed securities |  |  | 189,705 |  |  |  | 29 |  |  |  | (2,833 | ) |  |  | 186,901 |
U.S. GSE residential collateralized mortgage obligations |  |  | 314,390 |  |  |  | 16 |  |  |  | (7,016 | ) |  |  | 307,390 |
U.S. GSE commercial mortgage-backed securities |  |  | 6,017 |  |  |  | 2 |  |  |  | (40 | ) |  |  | 5,979 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 49,965 |  |  |  | - |  |  |  | (1,249 | ) |  |  | 48,716 |
Other asset backed securities |  |  | 24,250 |  |  |  | - |  |  |  | (849 | ) |  |  | 23,401 |
Corporate bonds |  |  | 46,000 |  |  |  | - |  |  |  | (2,307 | ) |  |  | 43,693 |
Total available for sale |  |  | 775,903 |  |  |  | 306 |  |  |  | (16,293 | ) |  |  | 759,916 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 60,762 |  |  |  | 972 |  |  |  | (64 | ) |  |  | 61,670 |
U.S. GSE residential mortgage-backed securities |  |  | 11,424 |  |  |  | - |  |  |  | (261 | ) |  |  | 11,163 |
U.S. GSE residential collateralized mortgage obligations |  |  | 54,250 |  |  |  | 244 |  |  |  | (666 | ) |  |  | 53,828 |
U.S. GSE commercial mortgage-backed securities |  |  | 22,953 |  |  |  | 77 |  |  |  | (438 | ) |  |  | 22,592 |
U.S. GSE commercial collateralized mortgage obligations |  |  | 31,477 |  |  |  | - |  |  |  | (845 | ) |  |  | 30,632 |
Total held to maturity |  |  | 180,866 |  |  |  | 1,293 |  |  |  | (2,274 | ) |  |  | 179,885 |
Total securities |  | $ | 956,769 |  |  | $ | 1,599 |  |  | $ | (18,567 | ) |  | $ | 939,801 |
Schedule of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio |
|  | March 31, 2018 |
|  |  |  |  | Estimated |
(In thousands) |  | Amortized Cost |  |  | Fair Value |
Maturity |  |  |  |  |  |
Available for sale: |  |  |  |  |  |  |  |
Within one year |  | $ | 9,807 |  |  | $ | 9,785 |
One to five years |  |  | 90,205 |  |  |  | 88,221 |
Five to ten years |  |  | 125,146 |  |  |  | 120,265 |
Beyond ten years |  |  | 525,472 |  |  |  | 507,785 |
Total |  | $ | 750,630 |  |  | $ | 726,056 |
Held to maturity: |  |  |  |  |  |  |  |
Within one year |  | $ | 2,878 |  |  | $ | 2,873 |
One to five years |  |  | 31,208 |  |  |  | 31,046 |
Five to ten years |  |  | 55,680 |  |  |  | 55,269 |
Beyond ten years |  |  | 86,323 |  |  |  | 83,689 |
Total |  | $ | 176,089 |  |  | $ | 172,877 |
Schedule of securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months |
|  | March 31, 2018 |
|  | Less than 12 months |  |  | Greater than 12 months |
|  | Estimated |  |  | Gross |  |  | Estimated |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(In thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | - |  |  | $ | - |  |  | $ | 56,038 |  |  | $ | (1,957 | )
State and municipal obligations |  |  | 51,188 |  |  |  | (630 | ) |  |  | 29,283 |  |  |  | (705 | )
U.S. GSE residential mortgage-backed securities |  |  | 91,424 |  |  |  | (2,353 | ) |  |  | 80,300 |  |  |  | (3,089 | )
U.S. GSE residential collateralized mortgage obligations |  |  | 78,440 |  |  |  | (1,748 | ) |  |  | 212,234 |  |  |  | (8,485 | )
U.S. GSE commercial mortgage-backed securities |  |  | 5,856 |  |  |  | (120 | ) |  |  | - |  |  |  | - |
U.S. GSE commercial collateralized mortgage obligations |  |  | 252 |  |  |  | - |  |  |  | 46,240 |  |  |  | (1,878 | )
Other asset backed securities |  |  | - |  |  |  | - |  |  |  | 23,401 |  |  |  | (849 | )
Corporate bonds |  |  | 13,281 |  |  |  | (719 | ) |  |  | 29,901 |  |  |  | (2,099 | )
Total available for sale |  |  | 240,441 |  |  |  | (5,570 | ) |  |  | 477,397 |  |  |  | (19,062 | )
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 23,435 |  |  |  | (255 | ) |  |  | 1,005 |  |  |  | (5 | )
U.S. GSE residential mortgage-backed securities |  |  | 1,276 |  |  |  | (32 | ) |  |  | 9,279 |  |  |  | (401 | )
U.S. GSE residential collateralized mortgage obligations |  |  | 24,359 |  |  |  | (358 | ) |  |  | 20,142 |  |  |  | (795 | )
U.S. GSE commercial mortgage-backed securities |  |  | 13,975 |  |  |  | (276 | ) |  |  | 8,057 |  |  |  | (443 | )
U.S. GSE commercial collateralized mortgage obligations |  |  | 10,116 |  |  |  | (324 | ) |  |  | 19,750 |  |  |  | (1,046 | )
Total held to maturity |  | $ | 73,161 |  |  | $ | (1,245 | ) |  | $ | 58,233 |  |  | $ | (2,690 | )
|  | December 31, 2017 |
|  | Less than 12 months |  |  | Greater than 12 months |
|  | Estimated |  |  | Gross |  |  | Estimated |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(In thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | - |  |  | $ | - |  |  | $ | 56,815 |  |  | $ | (1,180 | )
State and municipal obligations |  |  | 35,350 |  |  |  | (301 | ) |  |  | 28,165 |  |  |  | (518 | )
U.S. GSE residential mortgage-backed securities |  |  | 107,408 |  |  |  | (1,153 | ) |  |  | 69,571 |  |  |  | (1,680 | )
U.S. GSE residential collateralized mortgage obligations |  |  | 77,705 |  |  |  | (759 | ) |  |  | 224,932 |  |  |  | (6,257 | )
U.S. GSE commercial mortgage-backed securities |  |  | 2,345 |  |  |  | (40 | ) |  |  | - |  |  |  | - |
U.S. GSE commercial collateralized mortgage obligations |  |  | 452 |  |  |  | (1 | ) |  |  | 48,264 |  |  |  | (1,248 | )
Other asset backed securities |  |  | - |  |  |  | - |  |  |  | 23,401 |  |  |  | (849 | )
Corporate bonds |  |  | 13,588 |  |  |  | (412 | ) |  |  | 30,105 |  |  |  | (1,895 | )
Total available for sale |  |  | 236,848 |  |  |  | (2,666 | ) |  |  | 481,253 |  |  |  | (13,627 | )
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 7,709 |  |  |  | (57 | ) |  |  | 1,009 |  |  |  | (7 | )
U.S. GSE residential mortgage-backed securities |  |  | 1,359 |  |  |  | (16 | ) |  |  | 9,804 |  |  |  | (245 | )
U.S. GSE residential collateralized mortgage obligations |  |  | 21,329 |  |  |  | (94 | ) |  |  | 21,112 |  |  |  | (572 | )
U.S. GSE commercial mortgage-backed securities |  |  | 8,789 |  |  |  | (121 | ) |  |  | 8,303 |  |  |  | (317 | )
U.S. GSE commercial collateralized mortgage obligations |  |  | 10,341 |  |  |  | (116 | ) |  |  | 20,290 |  |  |  | (729 | )
Total held to maturity |  | $ | 49,527 |  |  | $ | (404 | ) |  | $ | 60,518 |  |  | $ | (1,870 | )

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