INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at June 30, 2015, December 31, 2014 and June 30, 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
June 30, 2015
Available-For-Sale Securities, at Amortized Cost	$	156,248	$	59,230	$	154,501	$	16,910	$	1,120	$	388,009
Available-For-Sale Securities, at Fair Value	156,937		59,303		157,641		16,691		1,245		391,817
Gross Unrealized Gains	788		117		3,350		5		125		4,385
Gross Unrealized Losses	99		43		210		224		—		576
Available-For-Sale Securities, Pledged as Collateral											289,418

Maturities of Debt Securities, at Amortized Cost:
Within One Year	—		9,179		11,037		4,926				25,142
From 1 - 5 Years	156,248		48,283		115,431		10,984				330,946
From 5 - 10 Years	—		1,168		27,948		—				29,116
Over 10 Years	—		600		84		1,000				1,684



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
Maturities of Debt Securities, at Fair Value:
Within One Year	—		9,194		11,357		4,930				25,481
From 1 - 5 Years	156,937		48,341		117,681		10,961				333,920
From 5 - 10 Years	—		1,168		28,513		—				29,681
Over 10 Years	—		600		90		800				1,490

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	—	$	—	$	—	$	—
12 Months or Longer	35,149		16,401		47,859		10,232		—		109,641
Total	$	35,149	$	16,401	$	47,859	$	10,232	$	—	$	109,641
Number of Securities in a Continuous Loss Position	10		71		1		14		—		96

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	—	$	—	$	—	$	—
12 Months or Longer	99		43		210		224		—		576
Total	$	99	$	43	$	210	$	224	$	—	$	576

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

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



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

The following table is the schedule of Held-To-Maturity Securities at June 30, 2015, December 31, 2014 and June 30, 2014:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
June 30, 2015
Held-To-Maturity Securities, at Amortized Cost	$	219,878	$	103,238	$	1,000	$	324,116
Held-To-Maturity Securities, at Fair Value	223,031		104,330		1,000		328,361
Gross Unrealized Gains	3,737		1,201		—		4,938
Gross Unrealized Losses	583		109		—		692
Held-To-Maturity Securities, Pledged as Collateral							300,040

Maturities of Debt Securities, at Amortized Cost:
Within One Year	19,962		—		—		19,962
From 1 - 5 Years	93,785		69,333		—		163,118
From 5 - 10 Years	91,364		33,905		—		125,269
Over 10 Years	14,767		—		1,000		15,767

Maturities of Debt Securities, at Fair Value:
Within One Year	19,972		—		—		19,972
From 1 - 5 Years	95,510		70,023		—		165,533
From 5 - 10 Years	92,802		34,308		—		127,110
Over 10 Years	14,747		—		1,000		15,747

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	—	$	—
12 Months or Longer	44,748		3,967		—		48,715
Total	$	44,748	$	3,967	$	—	$	48,715
Number of Securities in a Continuous Loss Position	157		1		—		158

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



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
12 Months or Longer	583		109		—		692
Total	$	583	$	109	$	—	$	692

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

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

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

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, 2015, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $156.2 million and a fair value of $156.9 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $30.8 million and a fair value of $31.7 million and government sponsored entity (GSE) securities with an amortized cost of $123.7 million and a fair value of $126.0 million. In the held-to-maturity category at June 30, 2015, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $28.8 million and a fair value of $29.0 million and GSE securities with an amortized cost of $74.5 million and a fair value of $75.4 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 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 US Government Agency securities with an amortized cost of $29.4 million and a fair value of $30.1 million and 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.

Securities in a continuous loss position, in the tables above for June 30, 2015, December 31, 2014 and June 30, 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 June 30, 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.