SECURITIES AVAILABLE FOR SALE AND HELD TO MATURITY (Tables)

3 Months Ended

Mar. 31, 2013

SECURITIES AVAILABLE FOR SALE AND HELD TO MATURITY

Summary of securities available for sale and held to maturity

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2013
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	80,897	$	4,784	$	(222	)	$	85,459
Government guaranteed residential mortgage-backed securities	42,968		707		(35		)	43,640
Government-sponsored residential mortgage-backed securities	336,894		2,666		(255		)	339,305
Corporate bonds	36,042		248		(74		)	36,216
Trust preferred securities	18,713		1,537		(1,873		)	18,377
Other bonds and obligations	3,374		9		(1		)	3,382
Total debt securities	518,888		9,951		(2,460		)	526,379
Equity securities:
Marketable equity securities	28,536		4,120		(160		)	32,496
Total securities available for sale	547,424		14,071		(2,620		)	558,875
Securities held to maturity
Municipal bonds and obligations	8,289		—		—			8,289
Government-sponsored residential mortgage-backed securities	75		7		—			82
Tax advantaged economic development bonds	41,331		1,615		(460		)	42,486
Other bonds and obligations	777		—		—			777
Total securities held to maturity	50,472		1,622		(460		)	51,634
Total	$	597,896	$	15,693	$	(3,080	)	$	610,509
December 31, 2012
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	79,498	$	5,359	$	(100	)	$	84,757
Government guaranteed residential mortgage-backed securities	42,305		805		(18		)	43,092
Government-sponsored residential mortgage-backed securities	275,940		2,732		(79		)	278,593
Corporate bonds	9,998		117		(108		)	10,007
Trust preferred securities	21,784		1,089		(1,916		)	20,957
Other bonds and obligations	3,459		17		(4		)	3,472
Total debt securities	432,984		10,119		(2,225		)	440,878
Marketable equity securities	22,467		3,187		(363		)	25,291
Total securities available for sale	455,451		13,306		(2,588		)	466,169
Securities held to maturity
Municipal bonds and obligations	8,295		—		—			8,295
Government-sponsored residential mortgage-backed securities	76		7		—			83
Tax advantaged economic development bonds	41,678		1,837		(378		)	43,137
Other bonds and obligations	975		—		—			975
Total securities held to maturity	51,024		1,844		(378		)	52,490
Total	$	506,475	$	15,150	$	(2,966	)	$	518,659

Schedule of amortized cost and estimated fair value of available for sale (AFS) and held to maturity (HTM) securities, segregated by contractual maturity

	Available for sale				Held to maturity
	Amortized		Fair		Amortized		Fair
(In thousands)	Cost		Value		Cost		Value
Within 1 year	$	100	$	100	$	4,500	$	4,500
Over 1 year to 5 years	9,922		10,048		4,208		4,259
Over 5 years to 10 years	46,876		47,729		25,382		26,252
Over 10 years	82,128		85,557		16,307		16,541
Total bonds and obligations	139,026		143,434		50,397		51,552
Marketable equity securities	28,536		32,496		—		—
Residential mortgage-backed securities	379,862		382,945		75		82
Total	$	547,424	$	558,875	$	50,472	$	51,634

Schedule of securities with unrealized losses, segregated by the duration of their continuous unrealized loss positions

	Less Than Twelve Months				Over Twelve Months				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(In thousands)	Losses		Value		Losses		Value		Losses		Value
March 31, 2013
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	222	$	9,308	$	—	$	—	$	222	$	9,308
Government-guaranteed residential mortgage-backed securities	35		5,355		—		—		35		5,355
Government-sponsored residential mortgage-backed securities	255		91,375		—		—		255		91,375
Corporate bonds	73		15,859		1		5,000		74		20,859
Trust preferred securities	1		1,545		1,872		1,728		1,873		3,273
Other bonds and obligations	1		1,986		—		—		1		1,986
Total debt securities	587		125,428		1,873		6,728		2,460		132,156
Marketable equity securities	18		1,713		142		1,858		160		3,571
Total securities available for sale	605		127,141		2,015		8,586		2,620		135,727
Securities held to maturity
Tax advantaged economic development bonds	460		7,987		—		—		460		7,987
Total securities held to maturity	460		7,987		—		—		460		7,987
Total	$	1,065	$	135,128	$	2,015	$	8,586	$	3,080	$	143,714
December 31, 2012
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	100	$	4,140	$	—	$	—	$	100	$	4,140
Government guaranteed residential mortgage-backed securities	18		5,108		—		—		18		5,108
Government-sponsored residential mortgage-backed securities	69		31,433		10		5,366		79		36,799
Corporate bonds	—		—		108		6,892		108		6,892
Trust preferred securities	1		2,754		1,915		1,686		1,916		4,440
Other bonds and obligations	4		2,055		—		—		4		2,055
Total debt securities	192		45,490		2,033		13,944		2,225		59,434
Marketable equity securities	90		1,410		273		1,727		363		3,137
Total securities available for sale	$	282	$	46,900	$	2,306	$	15,671	$	2,588	$	62,571
Securities held to maturity
Tax advantaged economic development bonds	378		8,129		—		—		378		8,129
Total securities held to maturity	378		8,129		—		—		378		8,129
Total	$	660	$	55,029	$	2,306	$	15,671	$	2,966	$	70,700