INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at March 31, 2015, December 31, 2014 and March 31, 2014:



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, 2015
Available-For-Sale Securities, at Amortized Cost	$	150,500	$	73,886	$	145,185	$	16,949	$	1,120	$	387,640
Available-For-Sale Securities, at Fair Value	151,527		74,095		149,510		16,756		1,245		393,133
Gross Unrealized Gains	1,049		217		4,325		19		125		5,735
Gross Unrealized Losses	22		9		—		212		—		243
Available-For-Sale Securities, Pledged as Collateral											284,708

Maturities of Debt Securities, at Amortized Cost:
Within One Year	5,000		23,532		1,515		4,938				34,985
From 1 - 5 Years	145,500		48,471		122,340		11,010				327,321
From 5 - 10 Years	—		1,243		21,330		—				22,573
Over 10 Years	—		640		—		1,000				1,640

Maturities of Debt Securities, at Fair Value:
Within One Year	5,005		23,573		1,532		4,947				35,057
From 1 - 5 Years	146,522		48,638		125,850		11,009				332,019
From 5 - 10 Years	—		1,244		22,128		—				23,372
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	$	—	$	—	$	—	$	—	$	—	$	—
12 Months or Longer	13,937		6,581		22		5,702		—		26,242
Total	$	13,937	$	6,581	$	22	$	5,702	$	—	$	26,242
Number of Securities in a Continuous Loss Position	46		7		31		22		—		106

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	—	$	—	$	—	$	—
12 Months or Longer	22		9		—		212		—		243
Total	$	22	$	9	$	—	$	212	$	—	$	243

December 31, 2014
Available-For-Sale Securities, at Amortized Cost	$	137,540	$	81,582	$	124,732	$	16,988	$	1,120	$	361,962
Available-For-Sale Securities, at Fair Value	137,603		81,730		128,827		16,725		1,254		366,139
Gross Unrealized Gains	208		187		4,100		7		134		4,636
Gross Unrealized Losses	145		39		5		270		—		459
Available-For-Sale Securities, Pledged as Collateral											267,384

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	39,631	$	3,309	$	82	$	—	$	—	$	43,022
12 Months or Longer	28,020		14,035		1,546		10,738		—		54,339
Total	$	67,651	$	17,344	$	1,628	$	10,738	$	—	$	97,361
Number of Securities in a Continuous Loss Position	22		65		3		15		—		105

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	48	$	—	$	—	$	—	$	—	$	48
12 Months or Longer	97		39		5		270		—		411
Total	$	145	$	39	$	5	$	270	$	—	$	459

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

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
Total	$	56,902	$	21,590	$	14,676	$	9,260	$	—	$	102,428



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	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

The following table is the schedule of Held-To-Maturity Securities at March 31, 2015, December 31, 2014 and March 31, 2014:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
March 31, 2015
Held-To-Maturity Securities, at Amortized Cost	$	195,951	$	108,224	$	1,000	$	305,175
Held-To-Maturity Securities, at Fair Value	200,578		110,922		1,000		312,500
Gross Unrealized Gains	4,753		2,698		—		7,451
Gross Unrealized Losses	126		—		—		126
Held-To-Maturity Securities, Pledged as Collateral							285,132

Maturities of Debt Securities, at Amortized Cost:
Within One Year	35,926		—		—		35,926
From 1 - 5 Years	89,022		43,820		—		132,842
From 5 - 10 Years	67,708		64,404		—		132,112
Over 10 Years	3,295		—		1,000		4,295

Maturities of Debt Securities, at Fair Value:
Within One Year	35,968		—		—		35,968
From 1 - 5 Years	91,192		44,816		—		136,008
From 5 - 10 Years	70,047		66,106		—		136,153
Over 10 Years	3,371		—		1,000		4,371

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	—	$	—
12 Months or Longer	16,010		—		—		16,010
Total	$	16,010	$	—	$	—	$	16,010
Number of Securities in a Continuous Loss Position	585		7		—		592

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	—	$	—
12 Months or Longer	126		—		—		126
Total	$	126	$	—	$	—	$	126



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
December 31, 2014
Held-To-Maturity Securities, at Amortized Cost	$	188,472	$	112,552	$	1,000	$	302,024
Held-To-Maturity Securities, at Fair Value	193,252		114,314		1,000		308,566
Gross Unrealized Gains	4,935		1,770		—		6,705
Gross Unrealized Losses	155		8		—		163
Held-To-Maturity Securities, Pledged as Collateral							282,640

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	2,143	$	4,581	$	—	$	6,724
12 Months or Longer	16,033		—		—		16,033
Total	$	18,176	$	4,581	$	—	$	22,757
Number of Securities in a Continuous Loss Position	74		1		—		75

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	17	$	8	$	—	$	25
12 Months or Longer	138		—		—		138
Total	$	155	$	8	$	—	$	163

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

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

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, 2015, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $150.5 million and a fair value of $151.5 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $34.1 million and a fair value of $35.0 million and government sponsored entity (GSE) securities with an amortized cost of $111.1 million and a fair value of $114.5 million. In the held-to-maturity category at March 31, 2015, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $29.9 million and a fair value of $30.6 million and GSE securities with an amortized cost of $78.3 million and a fair value of $80.3 million.

In the available-for-sale category at December 31, 2014, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $137.5 million and a fair value of $137.6 million. Mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $23.0 million and a fair value of $23.6 million and GSE securities with an amortized cost of $101.7 million and a fair value of $105.2 million. In the held-to-maturity category at December 31, 2014, mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $4.4 million and a fair value of $4.5 million and GSE securities with an amortized cost of $108.1 million and a fair value of $109.8 million.

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 US Government Agency securities with an amortized cost of $30.6 million and a fair value of $31.3 million and 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.

Securities in a continuous loss position, in the tables above for March 31, 2015, December 31, 2014 and March 31, 2014, 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 March 31, 2015, 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.