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INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables) | 12 Months Ended
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Dec. 31, 2017
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract] |
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale | A summary of amortized cost and approximate fair value of investment securities available for sale included in the consolidated statements of condition as of December 31, 2017 and 2016 follows:
|  | 2017 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. government-sponsored agencies |  | $ | 44,476 |  |  | $ | — |  |  | $ | (775 | ) |  | $ | 43,701 |
Mortgage-backed securities-residential |  |  | 244,913 |  |  |  | 583 |  |  |  | (2,380 | ) |  |  | 243,116 |
SBA pool securities |  |  | 5,262 |  |  |  | — |  |  |  | (57 | ) |  |  | 5,205 |
State and political subdivisions |  |  | 24,910 |  |  |  | 87 |  |  |  | (129 | ) |  |  | 24,868 |
Corporate bond |  |  | 3,000 |  |  |  | 82 |  |  |  | — |  |  |  | 3,082 |
Single-issuer trust preferred security |  |  | 2,999 |  |  |  | — |  |  |  | (162 | ) |  |  | 2,837 |
CRA investment fund |  |  | 5,000 |  |  |  | — |  |  |  | (176 | ) |  |  | 4,824 |
Total |  | $ | 330,560 |  |  | $ | 752 |  |  | $ | (3,679 | ) |  | $ | 327,633 |
|  | 2016 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. government-sponsored agencies |  | $ | 21,991 |  |  | $ | — |  |  | $ | (474 | ) |  | $ | 21,517 |
Mortgage-backed securities-residential |  |  | 238,271 |  |  |  | 860 |  |  |  | (1,514 | ) |  |  | 237,617 |
SBA pool securities |  |  | 6,778 |  |  |  | — |  |  |  | (65 | ) |  |  | 6,713 |
State and political subdivisions |  |  | 29,107 |  |  |  | 160 |  |  |  | (274 | ) |  |  | 28,993 |
Corporate bond |  |  | 3,000 |  |  |  | 113 |  |  |  | — |  |  |  | 3,113 |
Single-issuer trust preferred security |  |  | 2,999 |  |  |  | — |  |  |  | (389 | ) |  |  | 2,610 |
CRA investment fund |  |  | 5,000 |  |  |  | — |  |  |  | (175 | ) |  |  | 4,825 |
Total |  | $ | 307,146 |  |  | $ | 1,133 |  |  | $ | (2,891 | ) |  | $ | 305,388 |
Schedule of Securities Classified by Maturity | Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities and the CRA Investment Fund, are shown separately.
Maturing in: |  |  |  |  |  |
(In thousands) |  | Amortized Cost |  |  | Fair Value |
One year or less |  | $ | 18,057 |  |  | $ | 17,999 |
After one year through five years |  |  | 15,990 |  |  |  | 15,714 |
After five years through ten years |  |  | 37,972 |  |  |  | 37,394 |
After ten years |  |  | 3,366 |  |  |  | 3,381 |
|  |  | 75,385 |  |  |  | 74,488 |
Mortgage-backed securities-residential |  |  | 244,913 |  |  |  | 243,116 |
SBA pool securities |  |  | 5,262 |  |  |  | 5,205 |
CRA investment fund |  |  | 5,000 |  |  |  | 4,824 |
Total |  | $ | 330,560 |  |  | $ | 327,633 |
Schedule of Proceeds, Gains, Losses and Tax Effects | The following is a summary of the gross gains, gross losses and net tax expense related to proceeds on sales of securities available for sale for the years ended December 31,
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Proceeds on sales |  | $ | — |  |  | $ | 5,499 |  |  | $ | 46,254 |
Gross gains |  |  | — |  |  |  | 133 |  |  |  | 536 |
Gross losses |  |  | — |  |  |  | (14 | ) |  |  | (9 | )
Net tax expense |  |  | — |  |  |  | 44 |  |  |  | 216 |
Schedule of Continuous Unrealized Losses and the Approximate Fair Value of these Investments | The following table presents the Company’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2017 and 2016.
|  | 2017 |
|  | Duration of Unrecognized Loss |
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Approximate |  |  |  |  |  | Approximate |  |  |  |  |  | Approximate |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(In thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. government- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored agencies |  | $ | 32,166 |  |  | $ | (317 | ) |  | $ | 11,535 |  |  | $ | (458 | ) |  | $ | 43,701 |  |  | $ | (775 | )
Mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
securities-residential |  |  | 116,774 |  |  |  | (1,000 | ) |  |  | 71,646 |  |  |  | (1,380 | ) |  |  | 188,420 |  |  |  | (2,380 | )
SBA pool securities |  |  | — |  |  |  | — |  |  |  | 5,205 |  |  |  | (57 | ) |  |  | 5,205 |  |  |  | (57 | )
State and political |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
subdivisions |  |  | 5,628 |  |  |  | (97 | ) |  |  | 3,760 |  |  |  | (32 | ) |  |  | 9,388 |  |  |  | (129 | )
Single-issuer trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
preferred security |  |  | — |  |  |  | — |  |  |  | 2,837 |  |  |  | (162 | ) |  |  | 2,837 |  |  |  | (162 | )
CRA investment fund |  |  | — |  |  |  | — |  |  |  | 4,824 |  |  |  | (176 | ) |  |  | 4,824 |  |  |  | (176 | )
Total |  | $ | 154,568 |  |  | $ | (1,414 | ) |  | $ | 99,807 |  |  | $ | (2,265 | ) |  | $ | 254,375 |  |  | $ | (3,679 | )
|  | 2016 |
|  | Duration of Unrecognized Loss |
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Approximate |  |  |  |  |  | Approximate |  |  |  |  |  | Approximate |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(In thousands) |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. government- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored agencies |  | $ | 21,517 |  |  | $ | (474 | ) |  | $ | — |  |  | $ | — |  |  | $ | 21,517 |  |  | $ | (474 | )
Mortgage-backed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
securities-residential |  |  | 151,114 |  |  |  | (1,472 | ) |  |  | 5,147 |  |  |  | (42 | ) |  |  | 156,261 |  |  |  | (1,514 | )
SBA pool securities |  |  | — |  |  |  | — |  |  |  | 6,713 |  |  |  | (65 | ) |  |  | 6,713 |  |  |  | (65 | )
State and political |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
subdivisions |  |  | 9,412 |  |  |  | (274 | ) |  |  | — |  |  |  | — |  |  |  | 9,412 |  |  |  | (274 | )
Single-issuer trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
preferred security |  |  | — |  |  |  | — |  |  |  | 2,610 |  |  |  | (389 | ) |  |  | 2,610 |  |  |  | (389 | )
CRA investment fund |  |  | 1,930 |  |  |  | (70 | ) |  |  | 2,894 |  |  |  | (105 | ) |  |  | 4,824 |  |  |  | (175 | )
Total |  | $ | 183,973 |  |  | $ | (2,290 | ) |  | $ | 17,364 |  |  | $ | (601 | ) |  | $ | 201,337 |  |  | $ | (2,891 | )

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