INVESTMENT AND MORTGAGE-BACKED SECURITIES (Tables)

3 Months Ended

Mar. 31, 2019

INVESTMENT AND MORTGAGE-BACKED SECURITIES [Abstract]

Major Categories of Securities Owned by Entity

The following tables summarize the major categories of securities owned by the Company as of the dates indicated:

	At March 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale:
Agency Notes	$	25,124	$	52	$	3	$	25,173
Corporate Securities		29,131		166		64		29,233
Pass-through MBS issued by Government-sponsored Enterprises ("GSEs")		346,338		2,829		560		348,607
Agency CMOs		109,244		142		776		108,610
Total securities available-for-sale	$	509,837	$	3,189	$	1,403	$	511,623

	At December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale:
Agency Notes	$	25,110	$	45	$	10	$	25,145
Corporate Securities		11,167		0		32		11,135
Pass-through MBS issued by GSEs		356,039		574		2,000		354,613
Agency CMOs		113,470		157		1,635		111,992
Total securities available-for-sale	$	505,786	$	776	$	3,677	$	502,885

Summary of Available-for-sale Agency Securities

At March 31, 2019, available-for-sale agency CMO and MBS securities possessed a weighted average contractual maturity of 12.9 years.  At March 31, 2019, the corporate securities possessed had a weighted average contractual maturity of 5.9 years.

	For the Three Months Ended March 31,
	2019			2018
Pass through MBS issued by GSEs:
Proceeds	$	6,117		$	—
Gross gains		—			—
Tax expense on gain		—			—
Gross losses		174			—
Tax benefit on loss		(56	)		—
Agency CMOs:
Proceeds		9,382			158,484
Gross gains		98			1,370
Tax expense on gain		31			440
Gross losses		—			—
Tax benefit on loss		—			—

Sales of Registered Mutual Funds and Trading Securities

A summary of the sales of marketable equity securities is listed below for the periods indicated:

	For the Three Months Ended March 31,
	2019		2018
Proceeds:
Marketable equity securities	$	137	$	393

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 aggregated by investment category and the length of time the securities were in a continuous unrealized loss position as of the dates indicated:

	March 31, 2019
	Less than 12 Consecutive Months				12 Consecutive Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available-for-sale:
Agency Notes	$	5,121	$	3	$	—	$	—	$	5,121	$	3
Corporate Securities		10,104		64		—		—		10,104		64
Pass through MBS issued by GSEs		—		—		81,834		560		81,834		560
Agency CMOs		86,626		716		4,583		60		91,209		776

	December 31, 2018
	Less than 12 Consecutive Months				12 Consecutive Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available-for-sale:
Agency Notes	$	5,100	$	10	$	—	$	—	$	5,100	$	10
Corporate Securities		11,135		32		—		—		11,135		32
Pass through MBS issued by GSEs		216,451		1,049		45,489		951		261,940		2,000
Agency CMOs		52,605		439		39,833		1,196		92,438		1,635