INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)

6 Months Ended

Jun. 30, 2015

INVESTMENT AND MORTGAGE-BACKED SECURITIES [Abstract]

Amortized Cost And Estimated Fair Value Of Available For Sale And Held To Maturity Securities

The following is a summary of major categories of securities owned by the Company (excluding trading securities) at June 30, 2015:

	Purchase Amortized/ Historical Cost		Recorded Amortized/ Historical Cost (1)		Unrealized Gains		Unrealized Losses			Fair Value
Investment securities held-to-maturity:
Pooled bank trust preferred securities ("TRUPS")	$	15,551	$	5,300	$	2,662	$	(175	)	$	7,787
Available-for-sale securities:
Investment securities
Registered Mutual Funds		3,876		3,876		53		(87	)		3,842
MBS
Pass-through MBS issued by GSEs		443		443		16		-			459

(1)  Amount represents the purchase amortized / historical cost less any OTTI charges (credit or non-credit related) previously recognized.  For the TRUPS, amount is also net of the $887 unamortized portion of the unrealized loss that was recognized in accumulated other comprehensive loss on September 1, 2008 (the day on which these securities were transferred from available-for-sale to held-to-maturity).

The following is a summary of major categories of securities owned by the Company (excluding trading securities) at December 31, 2014:

	Purchase Amortized/ Historical Cost		Recorded Amortized/ Historical Cost (1)		Unrealized Gains		Unrealized Losses			Fair Value
Investment securities held-to-maturity:
TRUPS	$	15,815	$	5,367	$	1,119	$	(171	)	$	6,315
Available-for-sale securities:
Investment securities
Registered Mutual Funds		3,860		3,860		-		(124	)		3,736
Agency notes		70		70		-		-			70
MBS
Pass-through MBS issued by GSEs		24,154		24,154		1,453		-			25,607
Private issuer pass through MBS		449		449		6		-			455
Private issuer collateralized mortgage obligations ("CMOs")		343		343		4		-			347

(1)  Amount represents the purchase amortized / historical cost less any OTTI charges (credit or non-credit related) previously recognized.  For the TRUPS, amount is also net of the $932 unamortized portion of the unrealized loss that was recognized in accumulated other comprehensive loss on September 1, 2008 (the day on which these securities were transferred from available-for-sale to held-to-maturity).

Other than Temporary Impairment, Credit Losses Recognized in Earnings

The following table provides a reconciliation of the pre-tax OTTI charges recognized on the Company's TRUPS:

	At or for the Three Months Ended June 30, 2015			At or for the Three Months Ended June 30, 2014
	Credit Related OTTI Recognized in Earnings	Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss	Total OTTI	Credit Related OTTI Recognized in Earnings	Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss	Total OTTI
Cumulative pre-tax balance at the beginning of the period	$8,795	$561	$9,356	$8,945	$593	$9,538
Accretion (Amortization) of previously recognized OTTI	(26)	35	9	-	(8)	(8)
Cumulative pre-tax balance at end of the period	$8,769	$596	$9,365	$8,945	$585	$9,530

	At or for the Six Months Ended June 30, 2015			At or for the Six Months Ended June 30, 2014
	Credit Related OTTI Recognized in Earnings	Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss	Total OTTI	Credit Related OTTI Recognized in Earnings	Non-Credit OTTI Recognized in Accumulated Other Comprehensive Loss	Total OTTI
Cumulative pre-tax balance at the beginning of the period	$8,945	$569	$9,514	$8,945	$601	$9,546
Accretion (Amortization) of previously recognized OTTI	(176)	27	(149)	-	(16)	(16)
Cumulative pre-tax balance at end of the period	$8,769	$596	$9,365	$8,945	$585	$9,530

Available For Sale And Held To Maturity Securities Continuous Unrealized Loss Position Fair Value

The following table summarizes the gross unrealized losses and fair value of investment securities as of June 30, 2015, aggregated by investment category and the length of time the securities were in a continuous unrealized loss position:

	Less than 12 Months Consecutive Unrealized Losses		12 Months or More Consecutive Unrealized Losses		Total
	Fair Value	Gross Unrecognized/ Unrealized Losses	Fair Value	Gross Unrecognized/ Unrealized Losses	Fair Value	Gross Unrecognized/ Unrealized Losses
Held-to-Maturity Securities:
TRUPS	$-	$-	$2,509	$175	$2,509	$175
Available-for-Sale Securities:
Registered Mutual Funds	2,815	87	-	-	2,815	87

The following table summarizes the gross unrealized losses and fair value of investment securities as of December 31, 2014, aggregated by investment category and the length of time the securities were in a continuous unrealized loss position:

	Less than 12 Months Consecutive Unrealized Losses		12 Months or More Consecutive Unrealized Losses		Total
	Fair Value	Gross Unrecognized/ Unrealized Losses	Fair Value	Gross Unrecognized/ Unrealized Losses	Fair Value	Gross Unrecognized/ Unrealized Losses
Held-to-Maturity Securities:
TRUPS	$-	$-	$2,562	$171	$2,562	$171
Available-for-Sale Securities:
Registered Mutual Funds	3,736	124	-	-	3,736	124