SECURITIES AVAILABLE FOR SALE AND HELD TO MATURITY (Tables)

3 Months Ended

Mar. 31, 2015

SECURITIES AVAILABLE FOR SALE AND HELD TO MATURITY

Summary of securities available for sale ("AFS") and held to maturity

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2015
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	149,454	$	6,391	$	(395	)	$	155,450
Government-guaranteed residential mortgage-backed securities	64,456		696		(113		)	65,039
Government-sponsored residential mortgage-backed securities	750,730		13,157		(1,466		)	762,421
Corporate bonds	55,560		411		(614		)	55,357
Trust preferred securities	12,773		736		(82		)	13,427
Other bonds and obligations	3,203		—		(7		)	3,196
Total debt securities	1,036,176		21,391		(2,677		)	1,054,890
Marketable equity securities	38,150		7,536		(920		)	44,766
Total securities available for sale	1,074,326		28,927		(3,597		)	1,099,656
Securities held to maturity
Municipal bonds and obligations	4,847		—		—			4,847
Government-sponsored residential mortgage-backed securities	70		5		—			75
Tax advantaged economic development bonds	37,570		1,921		—			39,491
Other bonds and obligations	331		—		—			331
Total securities held to maturity	42,818		1,926		—			44,744
Total	$	1,117,144	$	30,853	$	(3,597	)	$	1,144,400
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

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	$	31,062	$	30,557	$	1,214	$	1,214
Over 1 year to 5 years	1,256		1,264		16,802		17,774
Over 5 years to 10 years	17,319		17,698		12,232		12,532
Over 10 years	171,353		177,911		12,500		13,149
Total bonds and obligations	220,990		227,430		42,748		44,669
Marketable equity securities	38,150		44,766		—		—
Residential mortgage-backed securities	815,186		827,460		70		75
Total	$	1,074,326	$	1,099,656	$	42,818	$	44,744

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, 2015
Securities available for sale
Debt securities:
Municipal bonds and obligations	$	62	$	19,756	$	333	$	11,796	$	395	$	31,552
Government-guaranteed residential mortgage-backed securities	11		5,638		102		6,701		113		12,339
Government-sponsored residential mortgage-backed securities	—		—		1,466		142,786		1,466		142,786
Corporate bonds	614		33,680		—		—		614		33,680
Trust preferred securities	82		2,192		—		—		82		2,192
Other bonds and obligations	—		—		7		2,057		7		2,057
Total debt securities	769		61,266		1,908		163,340		2,677		224,606
Marketable equity securities	636		7,364		284		4,576		920		11,940
Total securities available for sale	1,405		68,630		2,192		167,916		3,597		236,546
Securities held to maturity
Tax advantaged economic development bonds	—		—		—		—		—		—
Total securities held to maturity	—		—		—		—		—		—
Total	$	1,405	$	68,630	$	2,192	$	167,916	$	3,597	$	236,546
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