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Investment Securities | 6 Months Ended
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Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | INVESTMENT SECURITIES (In Thousands) The following table is the schedule of Available-For-Sale Securities at June 30, 2017, December 31, 2016 and June 30, 2016:
Available-For-Sale Securities
|  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Mutual Funds and Equity Securities |  | Total Available- For-Sale Securities
June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 146,914 |  |  | $ | 15,410 |  |  | $ | 161,324 |  |  | $ | 2,500 |  |  | $ | 1,120 |  |  | $ | 327,268 |
Available-For-Sale Securities, at Fair Value |  | 147,085 |  |  | 15,441 |  |  | 161,077 |  |  | 2,299 |  |  | 1,490 |  |  | 327,392 |
Gross Unrealized Gains |  | 252 |  |  | 31 |  |  | 964 |  |  | — |  |  | 370 |  |  | 1,617 |
Gross Unrealized Losses |  | 81 |  |  | — |  |  | 1,211 |  |  | 201 |  |  | — |  |  | 1,493 |
Available-For-Sale Securities, Pledged as Collateral |  |  |  |  |  |  |  |  |  |  |  | 267,912 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | — |  |  | $ | 5,482 |  |  | $ | 3,842 |  |  | $ | 1,500 |  |  | $ | — |  |  | $ | 10,824 |
From 1 - 5 Years |  | 146,914 |  |  | 8,966 |  |  | 105,663 |  |  | — |  |  | — |  |  | 261,543 |
From 5 - 10 Years |  | — |  |  | 442 |  |  | 51,819 |  |  | — |  |  | — |  |  | 52,261 |
Over 10 Years |  | — |  |  | 520 |  |  | — |  |  | 1,000 |  |  | — |  |  | 1,520 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Within One Year |  | $ | — |  |  | $ | 5,483 |  |  | $ | 3,893 |  |  | $ | 1,499 |  |  | $ | — |  |  | $ | 10,875 |
From 1 - 5 Years |  | 147,085 |  |  | 8,996 |  |  | 105,638 |  |  | — |  |  | — |  |  | 261,719 |
From 5 - 10 Years |  | — |  |  | 442 |  |  | 51,546 |  |  | — |  |  | — |  |  | 51,988 |
Over 10 Years |  | — |  |  | 520 |  |  | — |  |  | 800 |  |  | — |  |  | 1,320 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 49,176 |  |  | $ | 543 |  |  | $ | 97,870 |  |  | $ | 1,499 |  |  | $ | — |  |  | $ | 149,088 |
12 Months or Longer |  | — |  |  | — |  |  | — |  |  | 800 |  |  | — |  |  | 800 |
Total |  | $ | 49,176 |  |  | $ | 543 |  |  | $ | 97,870 |  |  | $ | 2,299 |  |  | $ | — |  |  | $ | 149,888 |
Number of Securities in a Continuous Loss Position |  | 13 |  |  | 2 |  |  | 34 |  |  | 3 |  |  | — |  |  | 52 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 81 |  |  | $ | — |  |  | $ | 1,211 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1,293 |
12 Months or Longer |  | — |  |  | — |  |  | — |  |  | 200 |  |  | — |  |  | 200 |
Total |  | $ | 81 |  |  | $ | — |  |  | $ | 1,211 |  |  | $ | 201 |  |  | $ | — |  |  | $ | 1,493 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Amortized Cost |  | $ | 54,597 |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Fair Value |  | 54,676 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  | 92,317 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  | 92,409 |  |  |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  | $ | 3,740 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  | 3,756 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  | 157,584 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  | 157,321 |  |  |  |  |  |  |
Available-For-Sale Securities
|  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Mutual Funds and Equity Securities |  | Total Available- For-Sale Securities
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 147,110 |  |  | $ | 27,684 |  |  | $ | 168,189 |  |  | $ | 3,512 |  |  | $ | 1,120 |  |  | $ | 347,615 |
Available-For-Sale Securities, at Fair Value |  | 147,377 |  |  | 27,690 |  |  | 167,239 |  |  | 3,308 |  |  | 1,382 |  |  | 346,996 |
Gross Unrealized Gains |  | 304 |  |  | 24 |  |  | 986 |  |  | — |  |  | 262 |  |  | 1,576 |
Gross Unrealized Losses |  | 37 |  |  | 18 |  |  | 1,936 |  |  | 204 |  |  | — |  |  | 2,195 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  | 262,852 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 70,605 |  |  | $ | 12,165 |  |  | $ | 126,825 |  |  | $ | 500 |  |  | $ | — |  |  | $ | 210,095 |
12 Months or Longer |  | — |  |  | 7,377 |  |  | — |  |  | 2,809 |  |  | — |  |  | 10,186 |
Total |  | $ | 70,605 |  |  | $ | 19,542 |  |  | $ | 126,825 |  |  | $ | 3,309 |  |  | $ | — |  |  | $ | 220,281 |
Number of Securities in a Continuous Loss Position |  | 19 |  |  | 84 |  |  | 40 |  |  | 4 |  |  | — |  |  | 147 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 37 |  |  | $ | 13 |  |  | $ | 1,936 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1,987 |
12 Months or Longer |  | — |  |  | 5 |  |  | — |  |  | 203 |  |  | — |  |  | 208 |
Total |  | $ | 37 |  |  | $ | 18 |  |  | $ | 1,936 |  |  | $ | 204 |  |  | $ | — |  |  | $ | 2,195 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Amortized Cost |  | $ | 54,701 |  |  |  |  |  |  |  |  |  |  |
US Treasury Obligations, at Fair Value |  | 54,706 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  | 92,409 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  | 92,671 |  |  |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  | $ | 3,694 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  | 3,724 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  | 164,495 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  | 163,515 |  |  |  |  |  |  |
Available-For-Sale Securities
|  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Mutual Funds and Equity Securities |  | Total Available- For-Sale Securities
June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 155,859 |  |  | $ | 36,256 |  |  | $ | 157,926 |  |  | $ | 5,749 |  |  | $ | 1,120 |  |  | $ | 356,910 |
Available-For-Sale Securities, at Fair Value |  | 157,990 |  |  | 36,425 |  |  | 161,728 |  |  | 5,555 |  |  | 1,231 |  |  | 362,929 |
Gross Unrealized Gains |  | 2,131 |  |  | 169 |  |  | 3,806 |  |  | 6 |  |  | 111 |  |  | 6,223 |
Gross Unrealized Losses |  | — |  |  | — |  |  | 4 |  |  | 200 |  |  | — |  |  | 204 |
Available-For-Sale Securities, Pledged as Collateral |  |  |  |  |  |  |  |  |  |  |  | 267,912 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 710 |  |  | $ | — |  |  | $ | — |  |  | $ | 710 |
12 Months or Longer |  | — |  |  | 256 |  |  | — |  |  | 2,281 |  |  | — |  |  | 2,537 |
Total |  | $ | — |  |  | $ | 256 |  |  | $ | 710 |  |  | $ | 2,281 |  |  | $ | — |  |  | $ | 3,247 |
Number of Securities in a Continuous Loss Position |  | — |  |  | 1 |  |  | 2 |  |  | 3 |  |  | — |  |  | 6 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |
12 Months or Longer |  | — |  |  | — |  |  | — |  |  | 200 |  |  | — |  |  | 200 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 200 |  |  | $ | — |  |  | $ | 204 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  | $ | 155,859 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  | 157,990 |  |  |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  | $ | 10,318 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  | 10,401 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  | 147,608 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  | 151,327 |  |  |  |  |  |  |
The following table is the schedule of Held-To-Maturity Securities at June 30, 2017, December 31, 2016 and June 30, 2016:
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Total Held-To Maturity Securities
June 30, 2017 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 280,485 |  |  | $ | 67,533 |  |  | $ | — |  |  | $ | 348,018 |
Held-To-Maturity Securities, at Fair Value |  | 282,157 |  |  | 68,198 |  |  | — |  |  | 350,355 |
Gross Unrealized Gains |  | 3,208 |  |  | 677 |  |  | — |  |  | 3,885 |
Gross Unrealized Losses |  | 1,536 |  |  | 12 |  |  | — |  |  | 1,548 |
Held-To-Maturity Securities, Pledged as Collateral |  |  |  |  |  |  |  | 327,820 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |
Within One Year |  | $ | 13,986 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,986 |
From 1 - 5 Years |  | 91,072 |  |  | 61,506 |  |  | — |  |  | 152,578 |
From 5 - 10 Years |  | 164,161 |  |  | 6,027 |  |  | — |  |  | 170,188 |
Over 10 Years |  | 11,266 |  |  | — |  |  | — |  |  | 11,266 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |
Within One Year |  | $ | 14,006 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,006 |
From 1 - 5 Years |  | 92,549 |  |  | 62,078 |  |  | — |  |  | 154,627 |
From 5 - 10 Years |  | 164,399 |  |  | 6,120 |  |  | — |  |  | 170,519 |
Over 10 Years |  | 11,203 |  |  | — |  |  | — |  |  | 11,203 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 93,046 |  |  | $ | 4,338 |  |  | $ | — |  |  | $ | 97,384 |
12 Months or Longer |  | 403 |  |  | — |  |  | — |  |  | 403 |
Total |  | $ | 93,449 |  |  | $ | 4,338 |  |  | $ | — |  |  | $ | 97,787 |
Number of Securities in a Continuous Loss Position |  | 263 |  |  | 9 |  |  | — |  |  | 272 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 1,534 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 1,546 |
12 Months or Longer |  | 2 |  |  | — |  |  | — |  |  | 2 |
Total |  | $ | 1,536 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 1,548 |
Disaggregated Details: |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,106 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 3,121 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 64,427 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 65,077 |  |  |  |  |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Total Held-To Maturity Securities
December 31, 2016 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 268,892 |  |  | $ | 75,535 |  |  | $ | 1,000 |  |  | $ | 345,427 |
Held-To-Maturity Securities, at Fair Value |  | 267,127 |  |  | 75,624 |  |  | 1,000 |  |  | 343,751 |
Gross Unrealized Gains |  | 2,058 |  |  | 258 |  |  | — |  |  | 2,316 |
Gross Unrealized Losses |  | 3,823 |  |  | 169 |  |  | — |  |  | 3,992 |
Held-To-Maturity Securities, Pledged as Collateral |  |  |  |  |  |  |  | 321,202 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 107,255 |  |  | $ | 13,306 |  |  | $ | — |  |  | $ | 120,561 |
12 Months or Longer |  | 12,363 |  |  | — |  |  | — |  |  | 12,363 |
Total |  | $ | 119,618 |  |  | $ | 13,306 |  |  | $ | — |  |  | $ | 132,924 |
Number of Securities in a Continuous Loss Position |  | 347 |  |  | 13 |  |  | — |  |  | 360 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | 3,129 |  |  | $ | 169 |  |  | $ | — |  |  | $ | 3,298 |
12 Months or Longer |  | 694 |  |  | — |  |  | — |  |  | 694 |
Total |  | $ | 3,823 |  |  | $ | 169 |  |  | $ | — |  |  | $ | 3,992 |
Disaggregated Details: |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,206 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 3,222 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 72,329 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 72,402 |  |  |  |  |
June 30, 2016 |  |  |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 257,982 |  |  | $ | 84,832 |  |  | $ | 1,000 |  |  | $ | 343,814 |
Held-To-Maturity Securities, at Fair Value |  | 265,983 |  |  | 87,795 |  |  | 1,000 |  |  | 354,778 |
Gross Unrealized Gains |  | 8,002 |  |  | 2,963 |  |  | — |  |  | 10,965 |
Gross Unrealized Losses |  | 1 |  |  | — |  |  | — |  |  | 1 |
Held-To-Maturity Securities, Pledged as Collateral |  |  |  |  |  |  |  | 327,820 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
12 Months or Longer |  | 659 |  |  | — |  |  | — |  |  | 659 |
Total |  | $ | 659 |  |  | $ | — |  |  | $ | — |  |  | $ | 659 |
Number of Securities in a Continuous Loss Position |  | 3 |  |  | — |  |  | — |  |  | 3 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
12 Months or Longer |  | 1 |  |  | — |  |  | — |  |  | 1 |
Total |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities - Residential |  | Corporate and Other Debt Securities |  | Total Held-To Maturity Securities
June 30, 2016 |  |  |  |  |  |  |  |
Disaggregated Details: |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | $ | 3,497 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 3,622 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 81,335 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 84,173 |  |  |  |  |
In the tables above, maturities of mortgage-backed-securities - residential are included based on their expected average lives. Actual maturities will differ from the table above because issuers may have the right to call or prepay obligations with, or without, prepayment penalties. Securities in a continuous loss position, in the tables above for June 30, 2017, December 31, 2016 and June 30, 2016, do not reflect any deterioration of the credit worthiness of the issuing entities. U.S. Agency issues, including agency-backed collateralized mortgage obligations and mortgage-backed securities, are all rated at least Aaa by Moody's or AA+ by Standard and Poor's. The state and municipal obligations are general obligations supported by the general taxing authority of the issuer, and in some cases are insured. Obligations issued by school districts are supported by state aid. For any non-rated municipal securities, credit analysis is performed in-house based upon data that has been submitted by the issuers to the NY State Comptroller. That analysis reflects satisfactory credit worthiness of the municipalities. Corporate and other debt securities continue to be rated above investment grade according to Moody's and Standard and Poor's. Subsequent to June 30, 2017, and through the date of filing this report, there were no securities downgraded below investment grade. The unrealized losses on these temporarily impaired securities are primarily the result of changes in interest rates for fixed rate securities where the interest rate received is less than the current rate available for new offerings of similar securities, changes in market spreads as a result of shifts in supply and demand, and/or changes in the level of prepayments for mortgage related securities. Because we do not currently intend to sell any of our temporarily impaired securities, and because it is not more likely-than-not that we would be required to sell the securities prior to recovery, the impairment is considered temporary.

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