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SECURITIES AVAILABLE FOR SALE (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Summary of securities available for sale ("AFS") and held to maturity

The following is a summary of securities available for sale:

(In thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
June 30, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	6,937			$	36			$	—			$	6,973
Mortgage-backed securities:
US Government-sponsored enterprises		456,840				3,344				4,133				456,051
US Government agency		77,869				720				527				78,062
Private label		744				174				7				911
Obligations of states and political subdivisions thereof		144,850				2,869				1,434				146,285
Corporate bonds		29,774				308				18				30,064
Total securities available for sale		$	717,014			$	7,451			$	6,119			$	718,346
December 31, 2016
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	—			$	—			$	—			$	—
Mortgage-backed securities:
US Government-sponsored enterprises		330,635				2,682				4,865				328,452
US Government agency		76,722				797				613				76,906
Private label		936				207				11				1,132
Obligations of states and political subdivisions thereof		123,832				1,941				3,407				122,366
Corporate bonds		—				—				—				—
Total securities available for sale		$	532,125			$	5,627			$	8,896			$	528,856

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”) securities segregated by contractual maturity at June 30, 2017 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.

		Available for sale
		Amortized				Fair
(In thousands)		Cost				Value
Within 1 year		$	3,595			$	3,615
Over 1 year to 5 years		19,509				19,714
Over 5 years to 10 years		72,053				73,287
Over 10 years		621,857				621,730
Total securities available for sale		$	717,014			$	718,346

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
June 30, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	—			$	—			$	—			$	—			$	—			$	—
Mortgage-backed securities:
US Government-sponsored enterprises		3,161				198,257				972				27,076				4,133				225,333
US Government agency		391				37,729				136				5,774				527				43,503
Private label		—				7				7				271				7				278
Obligations of states and political subdivisions thereof		957				33,058				477				7,930				1,434				40,988
Corporate bonds		18				4,025				—				—				18				4,025
Total securities available for sale		$	4,527			$	273,076			$	1,592			$	41,051			$	6,119			$	314,127
December 31, 2016
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	—			$	—			$	—			$	—			$	—			$	—
Mortgage-backed securities:
US Government-sponsored enterprises		4,369				197,914				496				10,120				4,865				208,034
US Government agency		472				36,941				141				4,263				613				41,204
Private label		—				107				11				312				11				419
Obligations of states and political subdivisions thereof		3,252				76,803				155				3,916				3,407				80,719
Corporate bonds		—				—				—				—				—				—
Total securities available for sale		$	8,093			$	311,765			$	803			$	18,611			$	8,896			$	330,376

Schedule of other than temporary impairment losses

	Three Months Ended June 30,
	2017				2016
Estimated credit losses as of March 31,	$	1,697			$	2,793
Reductions for securities paid off during the period	—				1,096
Estimated credit losses at end of the period	$	1,697			$	1,697

	Six Months Ended June 30,
	2017				2016
Estimated credit losses as of prior year-end,	$	1,697			$	3,180
Reductions for securities paid off during the period	—				1,483
Estimated credit losses at end of the period	$	1,697			$	1,697

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