SECURITIES (Tables)

12 Months Ended

Dec. 31, 2014

SECURITIES

Summary of securities available for sale ("AFS") and securities

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2014
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	127,014	$	6,859	$	(174	)	$	133,699
Government guaranteed residential mortgage-backed securities	68,972		702		(206		)	69,468
Government-sponsored residential mortgage-backed securities	755,893		7,421		(3,130		)	760,184
Corporate bonds	55,134		120		(1,103		)	54,151
Trust preferred securities	16,607		820		(1,212		)	16,215
Other bonds and obligations	3,211		—		(52		)	3,159
Total debt securities	1,026,831		15,922		(5,877		)	1,036,876
Marketable equity securities	48,993		7,322		(1,373		)	54,942
Total securities available for sale	1,075,824		23,244		(7,250		)	1,091,818
Securities held to maturity
Municipal bonds and obligations	4,997		—		—			4,997
Government-sponsored residential mortgage-backed securities	70		4		—			74
Tax advantaged economic development bonds	37,948		1,680		(34		)	39,594
Other bonds and obligations	332		—		—			332
Total securities held to maturity	43,347		1,684		(34		)	44,997
Total	$	1,119,171	$	24,928	$	(7,284	)	$	1,136,815
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	$	30,732	$	29,738	$	1,047	$	1,047
Over 1 year to 5 years	1,257		1,271		17,248		18,139
Over 5 years to 10 years	17,687		17,944		12,360		12,524
Over 10 years	152,290		158,271		12,622		13,213
Total bonds and obligations	201,966		207,224		43,277		44,923
Marketable equity securities	48,993		54,942		—		—
Residential mortgage-backed securities	824,865		829,652		70		74
Total	$	1,075,824	$	1,091,818	$	43,347	$	44,997

Schedule of amortized cost and fair values of pledged securities

	2014				2013
	Amortized		Fair		Amortized		Fair
(In thousands)	Cost		Value		Cost		Value
Securities pledged to swap counterparties	$	25,875	$	26,083	$	26,227	$	26,442
Securities pledged for municipal deposits	41,281		42,098		44,777		44,438
Total	$	67,156	$	68,181	$	71,004	$	70,880

Schedule of components of net realized gains and losses on the sale of AFS securities

(In thousands)	2014			2013		2012
Gross realized gains	$	2,601		$	4,758	$	820
Gross realized losses	(2,119		)	—		(520		)
Net realized gain/(losses)	$	482		$	4,758	$	300

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
December 31, 2014
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	8	$	1,001	$	166	$	7,206	$	174	$	8,207
Government guaranteed residential mortgage-backed securities	46		7,122		160		16,727		206		23,849
Government-sponsored residential mortgage-backed securities	236		30,672		2,894		167,473		3,130		198,145
Corporate bonds	1,103		39,571		—		—		1,103		39,571
Trust preferred securities	65		935		1,147		2,408		1,212		3,343
Other bonds and obligations	—		—		52		3,035		52		3,035
Total debt securities	1,458		79,301		4,419		196,849		5,877		276,150
Marketable equity securities	1,039		9,902		334		4,755		1,373		14,657
Total securities available for sale	$	2,497	$	89,203	$	4,753	$	201,604	$	7,250	$	290,807
Securities held to maturity
Tax advantaged economic development bonds	—		—		34		7,972		34		7,972
Total securities held to maturity	—		—		34		7,972		34		7,972
Total	$	2,497	$	89,203	$	4,787	$	209,576	$	7,284	$	298,779
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