SECURITIES AVAILABLE FOR SALE AND HELD TO MATURITY (Tables)

6 Months Ended

Jun. 30, 2014

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
June 30, 2014
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	133,188	$	4,739	$	(513	)	$	137,414
Government-guaranteed residential mortgage-backed securities	79,095		787		(159		)	79,723
Government-sponsored residential mortgage-backed securities	796,407		5,956		(5,272		)	797,091
Trust preferred securities	15,763		1,170		(1,276		)	15,657
Other bonds and obligations	3,237		1		(73		)	3,165
Total debt securities	1,027,690		12,653		(7,293		)	1,033,050
Marketable equity securities	45,139		3,194		(715		)	47,618
Total securities available for sale	1,072,829		15,847		(8,008		)	1,080,668
Securities held to maturity
Municipal bonds and obligations	4,259		—		—			4,259
Government-sponsored residential mortgage-backed securities	71		3		—			74
Tax advantaged economic development bonds	38,509		1,377		(199		)	39,687
Other bonds and obligations	339		—		—			339
Total securities held to maturity	43,178		1,380		(199		)	44,359
Total	$	1,116,007	$	17,227	$	(8,207	)	$	1,125,027
December 31, 2013
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	77,852	$	1,789	$	(1,970	)	$	77,671
Government-guaranteed residential mortgage-backed securities	78,885		544		(658		)	78,771
Government-sponsored residential mortgage-backed securities	531,441		2,000		(10,783		)	522,658
Corporate bonds	40,945		157		(1,822		)	39,280
Trust preferred securities	16,927		1,249		(1,565		)	16,611
Other bonds and obligations	3,250		—		(166		)	3,084
Total debt securities	749,300		5,739		(16,964		)	738,075
Marketable equity securities	20,042		2,266		(335		)	21,973
Total securities available for sale	769,342		8,005		(17,299		)	760,048
Securities held to maturity
Municipal bonds and obligations	4,244		—		—			4,244
Government-sponsored residential mortgage-backed securities	73		2		—			75
Tax advantaged economic development bonds	40,260		1,255		(414		)	41,101
Other bonds and obligations	344		—		—			344
Total securities held to maturity	44,921		1,257		(414		)	45,764
Total	$	814,263	$	9,262	$	(17,713	)	$	805,812

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	$	—	$	—	$	1,423	$	1,423
Over 1 year to 5 years	1,258		1,278		17,241		18,131
Over 5 years to 10 years	17,922		18,245		11,558		11,546
Over 10 years	133,008		136,713		12,885		13,185
Total bonds and obligations	152,188		156,236		43,107		44,285
Marketable equity securities	45,139		47,618		—		—
Residential mortgage-backed securities	875,502		876,814		71		74
Total	$	1,072,829	$	1,080,668	$	43,178	$	44,359

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
June 30, 2014
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	2	$	401	$	511	$	12,503	$	513	$	12,904
Government-guaranteed residential mortgage-backed securities	43		11,313		116		4,437		159		15,750
Government-sponsored residential mortgage-backed securities	1,022		151,880		4,250		160,445		5,272		312,325
Trust preferred securities	—		—		1,276		2,288		1,276		2,288
Other bonds and obligations	1		53		72		2,937		73		2,990
Total debt securities	1,068		163,647		6,225		182,610		7,293		346,257
Marketable equity securities	472		17,514		243		2,757		715		20,271
Total securities available for sale	1,540		181,161		6,468		185,367		8,008		366,528
Securities held to maturity
Tax advantaged economic development bonds	—		—		199		7,932		199		7,932
Total securities held to maturity	—		—		199		7,932		199		7,932
Total	$	1,540	$	181,161	$	6,667	$	193,299	$	8,207	$	374,460
December 31, 2013
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	1,657	$	17,776	$	313	$	1,854	$	1,970	$	19,630
Government guaranteed residential mortgage-backed securities	658		35,631		—		—		658		35,631
Government-sponsored residential mortgage-backed securities	10,783		423,203		—		—		10,783		423,203
Corporate bonds	1,822		29,124		—		—		1,822		29,124
Trust preferred securities	—		—		1,565		2,039		1,565		2,039
Other bonds and obligations	166		3,082		—		—		166		3,082
Total debt securities	15,086		508,816		1,878		3,893		16,964		512,709
Marketable equity securities	117		1,653		218		1,782		335		3,435
Total securities available for sale	15,203		510,469		2,096		5,675		17,299		516,144
Securities held to maturity
Tax advantaged economic development bonds	57		9,429		357		7,901		414		17,330
Total securities held to maturity	57		9,429		357		7,901		414		17,330
Total	$	15,260	$	519,898	$	2,453	$	13,576	$	17,713	$	533,474