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SECURITIES AVAILABLE FOR SALE (Tables)

9 Months Ended

Sep. 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
September 30, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	6,952			$	27			$	—			$	6,979
Mortgage-backed securities:
US Government-sponsored enterprises		438,332				3,413				3,788				437,957
US Government agency		102,044				695				601				102,138
Private label		562				162				5				719
Obligations of states and political subdivisions thereof		140,475				2,818				1,311				141,982
Corporate bonds		28,245				441				2				28,684
Total securities available for sale		$	716,610			$	7,556			$	5,707			$	718,459
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 September 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		$	3,613			$	3,627
Over 1 year to 5 years		18,499				18,735
Over 5 years to 10 years		73,997				75,366
Over 10 years		620,501				620,731
Total securities available for sale		$	716,610			$	718,459

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
September 30, 2017
Securities available for sale
Debt securities:
Obligations of US Government sponsored enterprises		$	—			$	—			$	—			$	—			$	—			$	—
Mortgage-backed securities:
US Government-sponsored enterprises		1,559				150,524				2,229				64,882				3,788				215,406
US Government agency		345				48,529				256				11,880				601				60,409
Private label		—				7				5				134				5				141
Obligations of states and political subdivisions thereof		89				8,838				1,222				31,570				1,311				40,408
Corporate bonds		2				3,038				—				—				2				3,038
Total securities available for sale		$	1,995			$	210,936			$	3,712			$	108,466			$	5,707			$	319,402
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 September 30,
	2017				2016
Estimated credit losses as of June 30,	$	1,697			$	1,697
Reductions for securities paid off during the period	—				—
Estimated credit losses at end of the period	$	1,697			$	1,697

	Nine Months Ended September 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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