INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)

9 Months Ended

Sep. 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 September 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")	$15,553	$5,349	$2,382	$(253)	$7,478
Available-for-sale securities:
Investment securities
Registered Mutual Funds	3,894	3,894	5	(215)	3,684
MBS
Pass-through MBS issued by GSEs	431	431	15	-	446

(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 $874 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 September 30, 2015			At or for the Three Months Ended September 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	$8,769	$596	$9,365	$8,945	$585	$9,530
Amortization of previously recognized OTTI	(26)	(9)	(35)	-	(8)	(8)
Cumulative pre-tax balance at end of the period	$8,743	$587	$9,330	$8,945	$577	$9,522

	At or for the Nine Months Ended September 30, 2015			At or for the Nine Months Ended September 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	(202)	18	(184)	-	(24)	(24)
Cumulative pre-tax balance at end of the period	$8,743	$587	$9,330	$8,945	$577	$9,522

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 September 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	$-	$-	$2,442	$253	$2,442	$253
Available-for-Sale Securities:
Registered Mutual Funds	3,476	215	-	-	3,476	215

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