INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)

6 Months Ended

Jun. 30, 2016

INVESTMENT AND MORTGAGE-BACKED SECURITIES [Abstract]

Summary of Major Categories of Securities Owned by Entity

The following is a summary of major categories of securities owned by the Company (excluding trading securities) at June 30, 2016:

	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")	$	15,326	$	5,319	$	1,955	$	(469	)	$	6,805
Available-for-sale securities:
Investment securities
Registered Mutual Funds		4,011		4,011		20		(194	)		3,837
MBS
Pass-through MBS issued by GSEs		392		392		14		-			406

(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 $781 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, 2015:

	Purchase Amortized/ Historical Cost		Recorded Amortized/ Historical Cost (1)		Unrealized Gains		Unrealized Losses			Fair Value
Investment securities held-to-maturity:
TRUPS	$	15,344	$	5,242	$	2,154	$	(345	)	$	7,051
Available-for-sale securities:
Investment securities
Registered Mutual Funds		3,990		3,990		25		(259	)		3,756
MBS
Pass-through MBS issued by GSEs		418		418		13		-			431

(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 $807 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).

Reconciliation of Pre-Tax OTTI Charges Recognized

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, 2016								At or for the Three Months Ended June 30, 2015
	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	$	8,691		$	570		$	9,261	$	8,795		$	561	$	9,356
Accretion (Amortization) of previously recognized OTTI		(26	)		(8	)		(34)		(26	)		35		9
Cumulative pre-tax balance at end of the period	$	8,665		$	562		$	9,227	$	8,769		$	596	$	9,365

	At or for the Six Months Ended June 30, 2016								At or for the Six Months Ended June 30, 2015
	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	$	8,717		$	578		$	9,295	$	8,945		$	569	$	9,514
Accretion (Amortization) of previously recognized OTTI		(52	)		(16	)		(68)		(176	)		27		(149	)
Cumulative pre-tax balance at end of the period	$	8,665		$	562		$	9,227	$	8,769		$	596	$	9,365

Summary of Gross Unrealized Losses and Fair Value of Investment Securities by Investment Category and Length of Time in a Continuous Unrealized Loss Position

The following table summarizes the gross unrealized losses and fair value of investment securities as of June 30, 2016, 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	$	-	$	-	$	2,255	$	469	$	2,255	$	469
Available-for-Sale Securities:
Registered Mutual Funds		371		8		3,121		186		3,492		194

The following table summarizes the gross unrealized losses and fair value of investment securities as of December 31, 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	$	-	$	-	$	2,359	$	345	$	2,359	$	345
Available-for-Sale Securities:
Registered Mutual Funds		3,026		259		-		-		3,026		259