INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at March 31, 2016, December 31, 2015 and March 31, 2015:



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, 2016
Available-For-Sale Securities, at Amortized Cost	$	155,896	$	49,382	$	164,905	$	11,903	$	1,120	$	383,206
Available-For-Sale Securities, at Fair Value	157,646		49,543		168,110		11,715		1,233		388,247
Gross Unrealized Gains	1,750		161		3,224		15		113		5,263
Gross Unrealized Losses	—		—		19		203		—		222
Available-For-Sale Securities, Pledged as Collateral											328,123

Maturities of Debt Securities, at Amortized Cost:
Within One Year	—		23,325		12,648		3,734				39,707
From 1 - 5 Years	155,896		24,550		137,705		7,169				325,320
From 5 - 10 Years	—		907		14,486		—				15,393
Over 10 Years	—		600		66		1,000				1,666

Maturities of Debt Securities, at Fair Value:
Within One Year	—		23,341		12,806		3,736				39,883
From 1 - 5 Years	157,646		24,695		140,200		7,179				329,720
From 5 - 10 Years	—		907		15,033		—				15,940
Over 10 Years	—		600		71		800				1,471



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	$	—	$	1,766	$	10,603	$	—	$	—	$	12,369
12 Months or Longer	—		—		—		1,797		—		1,797
Total	$	—	$	1,766	$	10,603	$	1,797	$	—	$	14,166
Number of Securities in a Continuous Loss Position	—		2		9		1		—		12

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	19	$	—	$	—	$	19
12 Months or Longer	—		—		—		203		—		203
Total	$	—	$	—	$	19	$	203	$	—	$	222

December 31, 2015
Available-For-Sale Securities, at Amortized Cost	$	155,932	$	52,306	$	177,376	$	14,544	$	1,120	$	401,278
Available-For-Sale Securities, at Fair Value	155,782		52,408		178,588		14,299		1,232		402,309
Gross Unrealized Gains	264		105		2,236		—		112		2,717
Gross Unrealized Losses	414		3		1,024		245		—		1,686
Available-For-Sale Securities, Pledged as Collateral											310,857

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	76,802	$	4,289	$	99,569	$	3,616	$	—	$	184,276
12 Months or Longer	—		1,443		903		10,671		—		13,017
Total	$	76,802	$	5,732	$	100,472	$	14,287	$	—	$	197,293
Number of Securities in a Continuous Loss Position	21		19		30		19		—		89

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	413	$	2	$	1,023	$	2	$	—	$	1,440
12 Months or Longer	1		1		1		243		—		246
Total	$	414	$	3	$	1,024	$	245	$	—	$	1,686

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

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



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	$	—	$	—	$	—	$	—	$	—	$	—
12 Months or Longer	22		9		—		212		—		243
Total	$	22	$	9	$	—	$	212	$	—	$	243

The following table is the schedule of Held-To-Maturity Securities at March 31, 2016, December 31, 2015 and March 31, 2015:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
March 31, 2016
Held-To-Maturity Securities, at Amortized Cost	$	224,831	$	89,453	$	1,000	$	315,284
Held-To-Maturity Securities, at Fair Value	231,598		91,739		1,000		324,337
Gross Unrealized Gains	6,769		2,292		—		9,061
Gross Unrealized Losses	2		6		—		8
Held-To-Maturity Securities, Pledged as Collateral							299,767

Maturities of Debt Securities, at Amortized Cost:
Within One Year	38,848		—		—		38,848
From 1 - 5 Years	88,146		51,649		—		139,795
From 5 - 10 Years	93,810		37,804		—		131,614
Over 10 Years	4,027		—		1,000		5,027

Maturities of Debt Securities, at Fair Value:
Within One Year	38,909		—		—		38,909
From 1 - 5 Years	90,744		52,840		—		143,584
From 5 - 10 Years	97,780		38,899		—		136,679
Over 10 Years	4,165		—		1,000		5,165

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	648	$	3,645	$	—	$	4,293
12 Months or Longer	658		—		—		658
Total	$	1,306	$	3,645	$	—	$	4,951
Number of Securities in a Continuous Loss Position	7		1		—		8

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	6	$	—	$	6
12 Months or Longer	2		—		—		2
Total	$	2	$	6	$	—	$	8



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities - Residential		Corporate and Other Debt Securities		Total Held-To Maturity Securities
December 31, 2015
Held-To-Maturity Securities, at Amortized Cost	$	226,053	$	93,558	$	1,000	$	320,611
Held-To-Maturity Securities, at Fair Value	230,621		94,309		1,000		325,930
Gross Unrealized Gains	4,619		868		—		5,487
Gross Unrealized Losses	51		117		—		168
Held-To-Maturity Securities, Pledged as Collateral							299,767

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	2,302	$	6,000	$	—	$	8,302
12 Months or Longer	11,764		4,154		—		15,918
Total	$	14,066	$	10,154	$	—	$	24,220
Number of Securities in a Continuous Loss Position	54		8		—		62

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	11	$	93	$	—	$	104
12 Months or Longer	40		24		—		64
Total	$	51	$	117	$	—	$	168

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

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

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 above 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, 2016, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $155.9 million and a fair value of $157.6 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $13.1 million and a fair value of $13.3 million and government sponsored entity (GSE) securities with an amortized cost of $151.8 million and a fair value of $154.8 million. In the held-to-maturity category at March 31, 2016, mortgage-backed securities-residential consisted of U.S Government Agency securities with an amortized cost of $3.7 million and a fair value of $3.8 million and GSE securities with an amortized cost of $85.8 million and a fair value of $87.9 million.

In the available-for-sale category at December 31, 2015, U.S. agency obligations consisted solely of U.S. Government Agency securities with an amortized cost of $155.9 million and a fair value of $155.8 million. Mortgage-backed securities - residential consisted of U.S. Government Agency securities with an amortized cost of $15.7 million and a fair value of $15.8 million and GSE securities with an amortized cost of $161.7 million and a fair value of $162.7 million. In the held-to-maturity category at December 31, 2015, mortgage-backed securities-residential consisted of U.S. Government Agency securities with an amortized cost of $3.8 million and a fair value of $3.9 million and GSE securities with an amortized cost of $89.8 million and a fair value of $90.5 million.

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 US Government Agency securities with an amortized cost of $34.1 million and a fair value of $35.0 million and 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.

Securities in a continuous loss position, in the tables above for March 31, 2016, December 31, 2015 and March 31, 2015, 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, 2016, 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.