INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at March 31, 2014, December 31, 2013 and March 31, 2013:



Available-For-Sale Securities
	U.S. Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Mutual Funds and Equity Securities		Total Available- For-Sale Securities
March 31, 2014
Available-For-Sale Securities, at Amortized Cost	$	121,477	$	125,165	$	160,023	$	17,115	$	1,120	$	424,900
Available-For-Sale Securities, at Fair Value	121,220		125,410		164,541		16,839		1,220		429,230
Gross Unrealized Gains	3		333		4,616		14		100		5,066
Gross Unrealized Losses	260		88		98		290		—		736
Available-For-Sale Securities, Pledged as Collateral											329,039

Maturities of Debt Securities, at Amortized Cost:
Within One Year	—		49,942		9,544		—				59,486
From 1 - 5 Years	121,477		72,919		133,726		16,115				344,237
From 5 - 10 Years	—		1,624		16,753		—				18,377
Over 10 Years	—		680		—		1,000				1,680

Maturities of Debt Securities, at Fair Value:
Within One Year	—		49,991		9,714		—				59,705
From 1 - 5 Years	121,220		73,099		137,302		16,039				347,660
From 5 - 10 Years	—		1,640		17,525		—				19,165
Over 10 Years	—		680		—		800				1,480

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	50,778	$	17,937	$	10,613	$	5,868	$	—	$	85,196
12 Months or Longer	6,124		3,653		4,063		3,392		—		17,232



Available-For-Sale Securities
	U.S. Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Mutual Funds and Equity Securities		Total Available- For-Sale Securities
Total	$	56,902	$	21,590	$	14,676	$	9,260	$	—	$	102,428
Number of Securities in a Continuous Loss Position	16		87		9		13		—		125

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	222	$	72	$	81	$	50	$	—	$	425
12 Months or Longer	38		16		17		240		—		311
Total	$	260	$	88	$	98	$	290	$	—	$	736

December 31, 2013
Available-For-Sale Securities, at Amortized Cost	$	136,868	$	127,224	$	171,321	$	17,142	$	1,120	$	453,675
Available-For-Sale Securities, at Fair Value	136,475		127,389		175,778		16,798		1,166		457,606
Gross Unrealized Gains	2		306		4,714		10		46		5,078
Gross Unrealized Losses	395		141		257		354		—		1,147
Available-For-Sale Securities, Pledged as Collateral											243,769

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	60,664	$	29,967	$	15,190	$	7,375	$	—	$	113,196
12 Months or Longer	33,849		4,597		11,841		6,063		—		56,350
Total	$	94,513	$	34,564	$	27,031	$	13,438	$	—	$	169,546
Number of Securities in a Continuous Loss Position	26		107		13		19		—		165

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	336	$	120	$	108	$	92	$	—	$	656
12 Months or Longer	59		21		149		262		—		491
Total	$	395	$	141	$	257	$	354	$	—	$	1,147

March 31, 2013
Available-For-Sale Securities, at Amortized Cost	$	132,217	$	104,304	$	219,067	$	12,913	$	1,120	$	469,621
Available-For-Sale Securities, at Fair Value	132,153		104,469		228,323		12,691		1,139		478,775
Gross Unrealized Gains	23		228		9,256		2		19		9,528
Gross Unrealized Losses	87		63		—		224		—		374
Available-For-Sale Securities, Pledged as Collateral											274,433

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	94,909	$	31,325	$	3	$	8,452	$	—	$	134,689
12 Months or Longer	—		1,481		—		—		—		1,481
Total	$	94,909	$	32,806	$	3	$	8,452	$	—	$	136,170
Number of Securities in a Continuous Loss Position	28		154		1		11		—		194



Available-For-Sale Securities
	U.S. Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Mutual Funds and Equity Securities		Total Available- For-Sale Securities
Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	87	$	61	$	—	$	224	$	—	$	372
12 Months or Longer	—		2		—		—		—		2
Total	$	87	$	63	$	—	$	224	$	—	$	374

The following table is the schedule of Held-To-Maturity Securities at March 31, 2014, December 31, 2013 and March 31, 2013:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
March 31, 2014
Held-To-Maturity Securities, at Amortized Cost	$	190,847	$	125,785	$	1,000	$	317,632
Held-To-Maturity Securities, at Fair Value	195,524		125,811		1,000		322,335
Gross Unrealized Gains	5,042		274		—		5,316
Gross Unrealized Losses	365		248		—		613
Held-To-Maturity Securities, Pledged as Collateral							316,632

Maturities of Debt Securities, at Amortized Cost:
Within One Year	31,895		—		—		31,895
From 1 - 5 Years	83,077		39,598		—		122,675
From 5 - 10 Years	72,886		86,187		—		159,073
Over 10 Years	2,989		—		1,000		3,989

Maturities of Debt Securities, at Fair Value:
Within One Year	31,941		—		—		31,941
From 1 - 5 Years	85,023		39,656		—		124,679
From 5 - 10 Years	75,467		86,155		—		161,622
Over 10 Years	3,093		—		1,000		4,093

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	19,696	$	43,049	$	—	$	62,745
12 Months or Longer	5,112		—		—		5,112
Total	$	24,808	$	43,049	$	—	$	67,857
Number of Securities in a Continuous Loss Position	86		17		—		103

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	324	$	248	$	—	$	572
12 Months or Longer	41		—		—		41
Total	$	365	$	248	$	—	$	613



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
December 31, 2013
Held-To-Maturity Securities, at Amortized Cost	$	198,206	$	100,055	$	1,000	$	299,261
Held-To-Maturity Securities, at Fair Value	202,390		98,915		1,000		302,305
Gross Unrealized Gains	4,762		24		—		4,786
Gross Unrealized Losses	578		1,164		—		1,742
Held-To-Maturity Securities, Pledged as Collateral							298,261

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	23,633	$	85,339	$	—	$	108,972
12 Months or Longer	5,111		—		—		5,111
Total	$	28,744	$	85,339	$	—	$	114,083
Number of Securities in a Continuous Loss Position	101		36		—		137

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	519	$	1,164	$	—	$	1,683
12 Months or Longer	59		—		—		59
Total	$	578	$	1,164	$	—	$	1,742

March 31, 2013
Held-To-Maturity Securities, at Amortized Cost	$	198,858	$	51,598	$	1,000	$	251,456
Held-To-Maturity Securities, at Fair Value	206,141		52,421		1,000		259,562
Gross Unrealized Gains	7,317		823		—		8,140
Gross Unrealized Losses	34		—		—		34
Held-To-Maturity Securities, Pledged as Collateral							250,456

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	8,794	$	—	$	—	$	8,794
12 Months or Longer	173		—		—		173
Total	$	8,967	$	—	$	—	$	8,967
Number of Securities in a Continuous Loss Position	33		—		—		33

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	34	$	—	$	—	$	34
12 Months or Longer	—		—		—		—
Total	$	34	$	—	$	—	$	34

In the tables above, maturities of mortgage-backed-securities - residential are included based on their expected average lives. Actual maturities will differ from the table below because issuers may have the right to call or prepay obligations with or without prepayment penalties.

In the available-for-sale category at March 31, 2014, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $121.5 million and a fair value of $121.2 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $30.6 million and a fair value of $31.3 million and government sponsored entity (GSE) securities with an amortized cost of $129.4 million and a fair value of $133.2 million. In the held-to-maturity category at March 31, 2014, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $4.8 million and a fair value of $4.8 million and GSE securities with an amortized cost of $121.0 million and a fair value of $121.0 million.

In the available-for-sale category at December 31, 2013, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $136.9 million and a fair value of $136.5 million. Mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $31.5 million and a fair value of $32.2 million and GSE securities with an amortized cost of $139.8 million and a fair value of $143.6 million. In the held-to-maturity category at December 31, 2013, mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $4.9 million and a fair value of $4.7 million and GSE securities with an amortized cost of $95.2 million and a fair value of $94.2 million.

In the available-for-sale category at March 31, 2013, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $132.2 million and a fair value of $132.2 million. Mortgage-backed securities-residential consisted of US Government Agency securities with an amortized cost of $35.3 million and a fair value of $37.2 million and GSE securities with an amortized cost of $183.8 million and a fair value of $191.1 million. In the held-to-maturity category at March 31, 2013, mortgage-backed securities-residential consisted of GSE securities with an amortized cost of $51.6 million and a fair value of $52.4 million.

Securities in a continuous loss position, in the tables above for March 31, 2014, December 31, 2013 and March 31, 2013, do not reflect any deterioration of the credit worthiness of the issuing entities. U.S. Agency issues, including agency-backed collateralized mortgage obligations and mortgage-backed securities, are all rated at least Aaa by Moody's or AA+ by Standard and Poor's. The state and municipal obligations are general obligations supported by the general taxing authority of the issuer, and in some cases are insured. Obligations issued by school districts are supported by state aid. For any non-rated municipal securities, credit analysis is performed in-house based upon data that has been submitted by the issuers to the NY State Comptroller. That analysis shows no deterioration in the credit worthiness of the municipalities. Subsequent to March 31, 2014, and through the date of filing this report, there were no securities downgraded below investment grade.

The unrealized losses on these temporarily impaired securities are primarily the result of changes in interest rates for fixed rate securities where the interest rate received is less than the current rate available for new offerings of similar securities, changes in market spreads as a result of shifts in supply and demand, and/or changes in the level of prepayments for mortgage related securities. Because we do not currently intend to sell any of our temporarily impaired securities, and because it is not more likely-than-not that we would be required to sell the securities prior to recovery, the impairment is considered temporary.