INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at September 30, 2014, December 31, 2013 and September 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
September 30, 2014
Available-For-Sale Securities, at Amortized Cost	$	134,485	$	91,799	$	126,108	$	17,027	$	1,120	$	370,539
Available-For-Sale Securities, at Fair Value	134,051		92,150		130,101		16,756		1,277		374,335
Gross Unrealized Gains	1		355		4,046		9		157		4,568
Gross Unrealized Losses	435		4		53		280		—		772
Available-For-Sale Securities, Pledged as Collateral											292,850

Maturities of Debt Securities, at Amortized Cost:
Within One Year	—		35,472		6,465		—				41,937
From 1 - 5 Years	128,653		54,172		107,842		16,027				306,694
From 5 - 10 Years	5,832		1,515		11,801		—				19,148
Over 10 Years	—		640		—		1,000				1,640

Maturities of Debt Securities, at Fair Value:
Within One Year	—		35,539		6,529		—				42,068
From 1 - 5 Years	128,247		54,438		111,100		15,956				309,741
From 5 - 10 Years	5,804		1,533		12,472		—				19,809
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	$	90,968	$	450	$	5,528	$	—	$	—	$	96,946
12 Months or Longer	27,994		2,665		4,515		10,752		—		45,926
Total	$	118,962	$	3,115	$	10,043	$	10,752	$	—	$	142,872
Number of Securities in a Continuous Loss Position	35		18		7		15		—		75

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	296	$	—	$	18	$	—	$	—	$	314
12 Months or Longer	139		4		35		280		—		458
Total	$	435	$	4	$	53	$	280	$	—	$	772

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

September 30, 2013
Available-For-Sale Securities, at Amortized Cost	$	150,184	$	134,059	$	179,235	$	17,180	$	1,120	$	481,778
Available-For-Sale Securities, at Fair Value	149,774		133,919		185,215		16,798		1,182		486,888
Gross Unrealized Gains	2		175		6,041		—		62		6,280
Gross Unrealized Losses	412		315		61		382		—		1,170
Available-For-Sale Securities, Pledged as Collateral											314,693

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	105,517	$	58,710	$	8,482	$	15,998	$	—	$	188,707
12 Months or Longer	4,992		3,513		—		800		—		9,305
Total	$	110,509	$	62,223	$	8,482	$	16,798	$	—	$	198,012



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
Number of Securities in a Continuous Loss Position	30		230		4		22		—		286

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	405	$	304	$	61	$	182	$	—	$	952
12 Months or Longer	7		11		—		200		—		218
Total	$	412	$	315	$	61	$	382	$	—	$	1,170

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



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
September 30, 2014
Held-To-Maturity Securities, at Amortized Cost	$	178,699	$	116,823	$	1,000	$	296,522
Held-To-Maturity Securities, at Fair Value	184,116		117,451		1,000		302,567
Gross Unrealized Gains	5,535		672		—		6,207
Gross Unrealized Losses	118		44		—		162
Held-To-Maturity Securities, Pledged as Collateral							277,636

Maturities of Debt Securities, at Amortized Cost:
Within One Year	33,517		—		—		33,517
From 1 - 5 Years	86,414		61,257		—		147,671
From 5 - 10 Years	56,509		55,566		—		112,075
Over 10 Years	2,259		—		1,000		3,259

Maturities of Debt Securities, at Fair Value:
Within One Year	33,608		—		—		33,608
From 1 - 5 Years	89,028		61,578		—		150,606
From 5 - 10 Years	59,121		55,873		—		114,994
Over 10 Years	2,359		—		1,000		3,359

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	2,289	$	9,221	$	—	$	11,510
12 Months or Longer	13,058		4,366		—		17,424
Total	$	15,347	$	13,587	$	—	$	28,934
Number of Securities in a Continuous Loss Position	58		5		—		63

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	15	$	32	$	—	$	47
12 Months or Longer	103		12		—		115
Total	$	118	$	44	$	—	$	162



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

September 30, 2013
Held-To-Maturity Securities, at Amortized Cost	$	194,065	$	78,561	$	1,000	$	273,626
Held-To-Maturity Securities, at Fair Value	198,548		78,842		1,000		278,390
Gross Unrealized Gains	5,018		314		—		5,332
Gross Unrealized Losses	535		33		—		568
Held-To-Maturity Securities, Pledged as Collateral							272,626

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	27,814	$	29,714	$	—	$	57,528
12 Months or Longer	171		—		—		171
Total	$	27,985	$	29,714	$	—	$	57,699
Number of Securities in a Continuous Loss Position	97		13		—		110

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	532	$	33	$	—	$	565
12 Months or Longer	2		—		—		2
Total	$	534	$	33	$	—	$	567

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 September 30, 2014, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $134.5 million and a fair value of $134.1 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $26.0 million and a fair value of $26.6 million and government sponsored entity (GSE) securities with an amortized cost of $100.1 million and a fair value of $103.5 million. In the held-to-maturity category at September 30, 2014, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $4.5 million and a fair value of $4.6 million and GSE securities with an amortized cost of $112.3 million and a fair value of $112.9 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 September 30, 2013, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $150.2 million and a fair value of $149.8 million. Mortgage-backed securities-residential consisted of US Government Agency securities with an amortized cost of $32.5 million and a fair value of $33.6 million and GSE securities with an amortized cost of $146.7 million and a fair value of $151.6 million. In the held-to-maturity category at September 30, 2013, mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $5.0 million and a fair value of $4.9 million and GSE securities with an amortized cost of $73.6 million and a fair value of $73.9 million.

Securities in a continuous loss position, in the tables above for September 30, 2014, December 31, 2013 and September 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 reflects satisfactory credit worthiness of the municipalities. Corporate and other debt securities continue to be rated above investment grade according to Moody's and Standard and Poor's. Subsequent to September 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.