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v3.19.3

SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2019
SECURITIES. |
Schedule of amortized cost and fair value of the available for sale and held to maturity |
|  | September 30, 2019
|  |  |  | Gross |  | Gross |  | Estimated
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 5,000 |  | $ | — |  | $ | (13) |  | $ | 4,987
State and municipal obligations |  |  | 29,587 |  |  | 813 |  |  | — |  |  | 30,400
U.S. GSE residential mortgage-backed securities |  |  | 89,104 |  |  | 530 |  |  | (558) |  |  | 89,076
U.S. GSE residential collateralized mortgage obligations |  |  | 309,146 |  |  | 1,688 |  |  | (1,643) |  |  | 309,191
U.S. GSE commercial mortgage-backed securities |  |  | 11,867 |  |  | 34 |  |  | (16) |  |  | 11,885
U.S. GSE commercial collateralized mortgage obligations |  |  | 96,201 |  |  | 2,285 |  |  | (133) |  |  | 98,353
Other asset backed securities |  |  | 24,250 |  |  | — |  |  | (788) |  |  | 23,462
Corporate bonds |  |  | 46,000 |  |  | — |  |  | (2,648) |  |  | 43,352
Total available for sale |  |  | 611,155 |  |  | 5,350 |  |  | (5,799) |  |  | 610,706
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 42,512 |  |  | 928 |  |  | — |  |  | 43,440
U.S. GSE residential mortgage-backed securities |  |  | 8,514 |  |  | 3 |  |  | (58) |  |  | 8,459
U.S. GSE residential collateralized mortgage obligations |  |  | 43,881 |  |  | 739 |  |  | (264) |  |  | 44,356
U.S. GSE commercial mortgage-backed securities |  |  | 17,407 |  |  | 209 |  |  | (15) |  |  | 17,601
U.S. GSE commercial collateralized mortgage obligations |  |  | 27,415 |  |  | 297 |  |  | (65) |  |  | 27,647
Total held to maturity |  |  | 139,729 |  |  | 2,176 |  |  | (402) |  |  | 141,503
Total securities |  | $ | 750,884 |  | $ | 7,526 |  | $ | (6,201) |  | $ | 752,209
|  | December 31, 2018
|  |  |  | Gross |  | Gross |  | Estimated
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair
(In thousands) |  | Cost |  | Gains |  | Losses |  | Value
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 29,997 |  | $ | — |  | $ | (947) |  | $ | 29,050
State and municipal obligations |  |  | 40,980 |  |  | 105 |  |  | (354) |  |  | 40,731
U.S. GSE residential mortgage-backed securities |  |  | 96,536 |  |  | 38 |  |  | (3,036) |  |  | 93,538
U.S. GSE residential collateralized mortgage obligations |  |  | 362,905 |  |  | 826 |  |  | (5,954) |  |  | 357,777
U.S. GSE commercial mortgage-backed securities |  |  | 3,536 |  |  | — |  |  | (28) |  |  | 3,508
U.S. GSE commercial collateralized mortgage obligations |  |  | 93,177 |  |  | — |  |  | (2,539) |  |  | 90,638
Other asset-backed securities |  |  | 24,250 |  |  | — |  |  | (1,031) |  |  | 23,219
Corporate bonds |  |  | 46,000 |  |  | — |  |  | (3,575) |  |  | 42,425
Total available for sale |  |  | 697,381 |  |  | 969 |  |  | (17,464) |  |  | 680,886
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  |  | 53,540 |  |  | 290 |  |  | (276) |  |  | 53,554
U.S. GSE residential mortgage-backed securities |  |  | 9,688 |  |  | — |  |  | (336) |  |  | 9,352
U.S. GSE residential collateralized mortgage obligations |  |  | 48,244 |  |  | 163 |  |  | (1,130) |  |  | 47,277
U.S. GSE commercial mortgage-backed securities |  |  | 19,098 |  |  | 4 |  |  | (620) |  |  | 18,482
U.S. GSE commercial collateralized mortgage obligations |  |  | 29,593 |  |  | — |  |  | (1,466) |  |  | 28,127
Total held to maturity |  |  | 160,163 |  |  | 457 |  |  | (3,828) |  |  | 156,792
Total securities |  | $ | 857,544 |  | $ | 1,426 |  | $ | (21,292) |  | $ | 837,678
Schedule of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio |
|  | September 30, 2019
|  | Amortized |  | Estimated
(In thousands) |  | Cost |  | Fair Value
Maturity |  |  |  |  |  |
Available for sale: |  |  |  |  |  |
Within one year |  | $ | 1,133 |  | $ | 1,133
One to five years |  |  | 37,676 |  |  | 37,428
Five to ten years |  |  | 47,649 |  |  | 45,898
Beyond ten years |  |  | 524,697 |  |  | 526,247
Total |  | $ | 611,155 |  | $ | 610,706
Held to maturity: |  |  |  |  |  |
Within one year |  | $ | 8,768 |  | $ | 8,787
One to five years |  |  | 22,504 |  |  | 22,903
Five to ten years |  |  | 31,673 |  |  | 32,300
Beyond ten years |  |  | 76,784 |  |  | 77,513
Total |  | $ | 139,729 |  | $ | 141,503
Schedule of securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months |
|  | September 30, 2019
|  | 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 |  | $ | — |  | $ | — |  | $ | 4,987 |  | $ | (13)
State and municipal obligations |  |  | — |  |  | — |  |  | 76 |  |  | —
U.S. GSE residential mortgage-backed securities |  |  | 4,855 |  |  | (17) |  |  | 45,344 |  |  | (541)
U.S. GSE residential collateralized mortgage obligations |  |  | 81,276 |  |  | (610) |  |  | 95,027 |  |  | (1,033)
U.S. GSE commercial mortgage-backed securities |  |  | 4,875 |  |  | (16) |  |  | — |  |  | —
U.S. GSE commercial collateralized mortgage obligations |  |  | 7,138 |  |  | (9) |  |  | 13,938 |  |  | (124)
Other asset backed securities |  |  | — |  |  | — |  |  | 23,462 |  |  | (788)
Corporate bonds |  |  | — |  |  | — |  |  | 43,352 |  |  | (2,648)
Total available for sale |  | $ | 98,144 |  | $ | (652) |  | $ | 226,186 |  | $ | (5,147)
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  | $ | — |  | $ | — |  | $ | 402 |  | $ | —
U.S. GSE residential mortgage-backed securities |  |  | — |  |  | — |  |  | 7,580 |  |  | (58)
U.S. GSE residential collateralized mortgage obligations |  |  | — |  |  | — |  |  | 9,090 |  |  | (264)
U.S. GSE commercial mortgage-backed securities |  |  | — |  |  | — |  |  | 5,187 |  |  | (15)
U.S. GSE commercial collateralized mortgage obligations |  |  | 8,115 |  |  | (10) |  |  | 4,428 |  |  | (55)
Total held to maturity |  | $ | 8,115 |  | $ | (10) |  | $ | 26,687 |  | $ | (392)
|  | December 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 |  | $ | — |  | $ | — |  | $ | 29,050 |  | $ | (947)
State and municipal obligations |  |  | 6,655 |  |  | (15) |  |  | 21,273 |  |  | (339)
U.S. GSE residential mortgage-backed securities |  |  | — |  |  | — |  |  | 88,762 |  |  | (3,036)
U.S. GSE residential collateralized mortgage obligations |  |  | 46,452 |  |  | (141) |  |  | 172,468 |  |  | (5,813)
U.S. GSE commercial mortgage-backed securities |  |  | — |  |  | — |  |  | 3,508 |  |  | (28)
U.S. GSE commercial collateralized mortgage obligations |  |  | 46,705 |  |  | (623) |  |  | 43,933 |  |  | (1,916)
Other asset-backed securities |  |  | — |  |  | — |  |  | 23,219 |  |  | (1,031)
Corporate bonds |  |  | — |  |  | — |  |  | 42,425 |  |  | (3,575)
Total available for sale |  | $ | 99,812 |  | $ | (779) |  | $ | 424,638 |  | $ | (16,685)
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
State and municipal obligations |  | $ | 8,286 |  | $ | (26) |  | $ | 22,142 |  | $ | (250)
U.S. GSE residential mortgage-backed securities |  |  | — |  |  | — |  |  | 9,352 |  |  | (336)
U.S. GSE residential collateralized mortgage obligations |  |  | — |  |  | — |  |  | 40,665 |  |  | (1,130)
U.S. GSE commercial mortgage-backed securities |  |  | — |  |  | — |  |  | 16,205 |  |  | (620)
U.S. GSE commercial collateralized mortgage obligations |  |  | — |  |  | — |  |  | 28,127 |  |  | (1,466)
Total held to maturity |  | $ | 8,286 |  | $ | (26) |  | $ | 116,491 |  | $ | (3,802)

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