INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at June 30, 2014, December 31, 2013 and June 30, 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
June 30, 2014
Available-For-Sale Securities, at Amortized Cost	$	92,328	$	102,456	$	148,672	$	17,065	$	1,120	$	361,641
Available-For-Sale Securities, at Fair Value	92,186		102,862		153,770		16,829		1,201		366,848
Gross Unrealized Gains	4		413		5,143		15		81		5,656
Gross Unrealized Losses	146		7		45		251		—		449
Available-For-Sale Securities, Pledged as Collateral											228,990

Maturities of Debt Securities, at Amortized Cost:
Within One Year	—		42,106		9,470		—				51,576
From 1 - 5 Years	80,659		58,160		126,647		16,065				281,531
From 5 - 10 Years	11,669		1,550		12,555		—				25,774
Over 10 Years	—		640		—		1,000				1,640

Maturities of Debt Securities, at Fair Value:
Within One Year	—		42,194		9,576		—				51,770
From 1 - 5 Years	80,520		58,460		130,851		16,029				285,860
From 5 - 10 Years	11,666		1,568		13,343		—				26,577
Over 10 Years	—		640		—		800				1,440



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
Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	42,888	$	2,860	$	8,740	$	—	$	—	$	54,488
12 Months or Longer	33,031		4,223		1,935		8,537		—		47,726
Total	$	75,919	$	7,083	$	10,675	$	8,537	$	—	$	102,214
Number of Securities in a Continuous Loss Position	24		24		8		12		—		68

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	30	$	—	$	34	$	—	$	—	$	64
12 Months or Longer	116		7		11		251		—		385
Total	$	146	$	7	$	45	$	251	$	—	$	449

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

June 30, 2013
Available-For-Sale Securities, at Amortized Cost	$	151,199	$	131,154	$	197,775	$	17,219	$	1,120	$	498,467
Available-For-Sale Securities, at Fair Value	150,046		130,444		203,230		16,711		1,143		501,574
Gross Unrealized Gains	—		135		5,586		—		23		5,744
Gross Unrealized Losses	1,153		845		131		508		—		2,637
Available-For-Sale Securities, Pledged as Collateral											270,243

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	150,048	$	80,443	$	6,750	$	15,910	$	—	$	253,151
12 Months or Longer	—		4,228		—		800		—		5,028
Total	$	150,048	$	84,671	$	6,750	$	16,710	$	—	$	258,179
Number of Securities in a Continuous Loss Position	47		347		3		22		—		419



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	$	1,153	$	826	$	131	$	308	$	—	$	2,418
12 Months or Longer	—		19		—		200		—		219
Total	$	1,153	$	845	$	131	$	508	$	—	$	2,637

The following table is the schedule of Held-To-Maturity Securities at June 30, 2014, December 31, 2013 and June 30, 2013:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
June 30, 2014
Held-To-Maturity Securities, at Amortized Cost	$	174,888	$	121,549	$	1,000	$	297,437
Held-To-Maturity Securities, at Fair Value	180,211		123,048		1,000		304,259
Gross Unrealized Gains	5,473		1,533		—		7,006
Gross Unrealized Losses	150		34		—		184
Held-To-Maturity Securities, Pledged as Collateral							296,437

Maturities of Debt Securities, at Amortized Cost:
Within One Year	30,255		—		—		30,255
From 1 - 5 Years	81,521		37,372		—		118,893
From 5 - 10 Years	60,657		84,177		—		144,834
Over 10 Years	2,455		—		1,000		3,455

Maturities of Debt Securities, at Fair Value:
Within One Year	30,369		—		—		30,369
From 1 - 5 Years	84,085		37,752		—		121,837
From 5 - 10 Years	63,203		85,296		—		148,499
Over 10 Years	2,554		—		1,000		3,554

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	2,697	$	9,561	$	—	$	12,258
12 Months or Longer	13,839		1,194		—		15,033
Total	$	16,536	$	10,755	$	—	$	27,291
Number of Securities in a Continuous Loss Position	63		4		—		67

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	29	$	27	$	—	$	56
12 Months or Longer	121		7		—		128
Total	$	150	$	34	$	—	$	184



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

June 30, 2013
Held-To-Maturity Securities, at Amortized Cost	$	200,182	$	47,732	$	1,000	$	248,914
Held-To-Maturity Securities, at Fair Value	204,153		47,538		1,000		252,691
Gross Unrealized Gains	4,833		8		—		4,841
Gross Unrealized Losses	862		202		—		1,064
Held-To-Maturity Securities, Pledged as Collateral							247,914

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	39,598	$	42,813	$	—	$	82,411
12 Months or Longer	13,204		—		—		13,204
Total	$	52,802	$	42,813	$	—	$	95,615
Number of Securities in a Continuous Loss Position	172		27		—		199

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	712	$	203	$	—	$	915
12 Months or Longer	149		—		—		149
Total	$	861	$	203	$	—	$	1,064

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 June 30, 2014, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $92.3 million and a fair value of $92.2 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $29.4 million and a fair value of $30.1 million and government sponsored entity (GSE) securities with an amortized cost of $119.3 million and a fair value of $123.7 million. In the held-to-maturity category at June 30, 2014, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $4.6 million and a fair value of $4.7 million and GSE securities with an amortized cost of $116.9 million and a fair value of $118.3 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 June 30, 2013, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $151.2 million and a fair value of $150.0 million. Mortgage-backed securities-residential consisted of US Government Agency securities with an amortized cost of $34.1 million and a fair value of $35.1 million and GSE securities with an amortized cost of $163.7 million and a fair value of $168.1 million. In the held-to-maturity category at June 30, 2013, mortgage-backed securities-residential consisted of GSE securities with an amortized cost of $47.7 million and a fair value of $47.5 million.

Securities in a continuous loss position, in the tables above for June 30, 2014, December 31, 2013 and June 30, 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 June 30, 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.