INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at March 31, 2019, December 31, 2018 and March 31, 2018:



Available-For-Sale Securities
	U.S. Government & Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities		Corporate and Other Debt Securities		Total Available- For-Sale Securities
March 31, 2019
Available-For-Sale Securities, at Amortized Cost	$	35,519	$	1,114	$	263,347	$	1,000	$	300,980
Available-For-Sale Securities, at Fair Value	35,383		1,116		261,513		800		298,812
Gross Unrealized Gains	—		2		657		—		659
Gross Unrealized Losses	136		—		2,491		200		2,827
Available-For-Sale Securities, Pledged as Collateral									255,028

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	30,516	$	201	$	494	$	—	$	31,211
From 1 - 5 Years	5,003		433		125,267		—		130,703
From 5 - 10 Years	—		—		117,616		—		117,616
Over 10 Years	—		480		19,970		1,000		21,450

Maturities of Debt Securities, at Fair Value:
Within One Year	$	30,432	$	203	$	498	$	—	$	31,133
From 1 - 5 Years	4,951		433		124,175		—		129,559
From 5 - 10 Years	—		—		117,008		—		117,008
Over 10 Years	—		480		19,832		800		21,112

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	53,131	$	—	$	53,131
12 Months or Longer	35,383		—		155,108		800		191,291
Total	$	35,383	$	—	$	208,239	$	800	$	244,422
Number of Securities in a Continuous Loss Position	7		—		80		1		88

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	258	$	—	$	258
12 Months or Longer	136		—		2,233		200		2,569
Total	$	136	$	—	$	2,491	$	200	$	2,827

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	35,519
US Agency Obligations, at Fair Value	35,383
US Government Agency Securities, at Amortized Cost					$	70,358
US Government Agency Securities, at Fair Value					70,034
Government Sponsored Entity Securities, at Amortized Cost					192,989
Government Sponsored Entity Securities, at Fair Value					191,479



Available-For-Sale Securities
	U.S. Government & Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities		Corporate and Other Debt Securities		Total Available- For-Sale Securities
December 31, 2018
Available-For-Sale Securities, at Amortized Cost	$	47,071	$	1,193	$	273,227	$	1,000	$	322,491
Available-For-Sale Securities, at Fair Value	46,765		1,195		268,775		800		317,535
Gross Unrealized Gains	—		2		288		—		290
Gross Unrealized Losses	306		—		4,740		200		5,246
Available-For-Sale Securities, Pledged as Collateral, at Fair Value									236,163

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	107,550	$	—	$	107,550
12 Months or Longer	46,765		—		124,627		800		172,192
Total	$	46,765	$	—	$	232,177	$	800	$	279,742
Number of Securities in a Continuous Loss Position	10		—		86		1		97

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	841	$	—	$	841
12 Months or Longer	306		—		3,899		200		4,405
Total	$	306	$	—	$	4,740	$	200	$	5,246

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	47,071
US Agency Obligations, at Fair Value	46,765
US Government Agency Securities, at Amortized Cost					$	72,095
US Government Agency Securities, at Fair Value					71,800
Government Sponsored Entity Securities, at Amortized Cost					201,132
Government Sponsored Entity Securities, at Fair Value					196,975



Available-For-Sale Securities
	U.S. Government & Agency Obligations		State and Municipal Obligations		Mortgage- Backed Securities		Corporate and Other Debt Securities		Total Available- For-Sale Securities
March 31, 2018
Available-For-Sale Securities, at Amortized Cost	$	60,264	$	9,741	$	240,033	$	1,000	$	311,038
Available-For-Sale Securities, at Fair Value	59,657		9,743		235,389		800		305,589
Gross Unrealized Gains	—		7		347		—		354
Gross Unrealized Losses	607		5		4,991		200		5,803
Available-For-Sale Securities, Pledged as Collateral									229,857

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	17,128	$	7,421	$	112,078	$	—	$	136,627
12 Months or Longer	42,529		—		80,759		800		124,088
Total	$	59,657	$	7,421	$	192,837	$	800	$	260,715
Number of Securities in a Continuous Loss Position	14		29		69		1		113

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	266	$	6	$	1,940	$	—	$	2,212
12 Months or Longer	341		—		3,050		200		3,591
Total	$	607	$	6	$	4,990	$	200	$	5,803

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	60,264
US Agency Obligations, at Fair Value	59,657
US Government Agency Securities, at Amortized Cost					$	59,446
US Government Agency Securities, at Fair Value					59,469
Government Sponsored Entity Securities, at Amortized Cost					180,587
Government Sponsored Entity Securities, at Fair Value					175,920

The following table is the schedule of Held-To-Maturity Securities at March 31, 2019, December 31, 2018 and March 31, 2018:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities		Total Held-To Maturity Securities
March 31, 2019
Held-To-Maturity Securities, at Amortized Cost	$	234,454	$	44,946	$	279,400
Held-To-Maturity Securities, at Fair Value	235,576		44,838		280,414
Gross Unrealized Gains	1,695		97		1,792
Gross Unrealized Losses	573		205		778
Held-To-Maturity Securities, Pledged as Collateral					265,465

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	25,205	$	—	$	25,205
From 1 - 5 Years	94,100		44,946		139,046
From 5 - 10 Years	112,788		—		112,788
Over 10 Years	2,361		—		2,361

Maturities of Debt Securities, at Fair Value:
Within One Year	$	25,244	$	—	$	25,244
From 1 - 5 Years	94,590		44,838		139,428
From 5 - 10 Years	113,343		—		113,343
Over 10 Years	2,399		—		2,399

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	—
12 Months or Longer	71,450		26,021		97,471
Total	$	71,450	$	26,021	$	97,471

Number of Securities in a Continuous Loss Position	193		29		222

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	—
12 Months or Longer	573		205		778
Total	$	573	$	205	$	778

Disaggregated Details:
US Government Agency Securities, at Amortized Cost			$	2,069
US Government Agency Securities, at Fair Value			2,012
Government Sponsored Entity Securities, at Amortized Cost			42,877
Government Sponsored Entity Securities, at Fair Value			42,826



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities		Total Held-To Maturity Securities
December 31, 2018
Held-To-Maturity Securities, at Amortized Cost	$	235,782	$	47,694	$	283,476
Held-To-Maturity Securities, at Fair Value	233,359		46,979		280,338
Gross Unrealized Gains	486		—		486
Gross Unrealized Losses	2,909		715		3,624
Held-To-Maturity Securities, Pledged as Collateral					266,341

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	32,093	$	33,309	$	65,402
12 Months or Longer	110,947		13,670		124,617
Total	$	143,040	$	46,979	$	190,019
Number of Securities in a Continuous Loss Position	411		47		458

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	162	$	456	$	618
12 Months or Longer	2,747		259		3,006
Total	$	2,909	$	715	$	3,624

Disaggregated Details:
US Government Agency Securities, at Amortized Cost			$	2,180
US Government Agency Securities, at Fair Value			2,143
Government Sponsored Entity Securities, at Amortized Cost			45,514
Government Sponsored Entity Securities, at Fair Value			44,836

March 31, 2018
Held-To-Maturity Securities, at Amortized Cost	$	272,938	$	57,186	$	330,124
Held-To-Maturity Securities, at Fair Value	268,604		56,333		324,937
Gross Unrealized Gains	646		—		646
Gross Unrealized Losses	4,979		853		5,832
Held-To-Maturity Securities, Pledged as Collateral					307,273

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	101,695	$	53,076	$	154,771
12 Months or Longer	65,012		3,257		68,269
Total	$	166,707	$	56,333	$	223,040
Number of Securities in a Continuous Loss Position	495		47		542

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	1,981	$	767	$	2,748
12 Months or Longer	2,998		86		3,084
Total	$	4,979	$	853	$	5,832

Held-To-Maturity Securities

State and

Municipal

Obligations

Mortgage-

Backed

Securities

Total

Held-To

Maturity

Securities

March 31, 2018

Disaggregated Details:

US Government Agency

Securities, at Amortized Cost

2,530

US Government Agency

Securities, at Fair Value

2,483

Government Sponsored Entity

Securities, at Amortized Cost

54,656

Government Sponsored Entity
Securities, at Fair Value

53,850

In the tables above, maturities of mortgage-backed securities are included based on their expected average lives. Actual maturities will differ because issuers may have the right to call or prepay obligations with or without prepayment penalties.

Securities in a continuous loss position, in the tables above for March 31, 2019, December 31, 2018 and March 31, 2018, do not reflect any deterioration of the credit worthiness of the issuing entities. U.S. government agency securities, including mortgage-backed securities, are all rated AAA by Moody's and 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 New York State Comptroller. That analysis shows no deterioration in the credit worthiness of the municipalities. Subsequent to March 31, 2019, 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 we would be required to sell the securities prior to recovery, the impairment is considered temporary.

Pledged securities, in the tables above, are primarily used to collateralize state and municipal deposits, as required under New York State law. A small portion of the pledged securities are used to collateralize repurchase agreements and pooled deposits of our trust customers.

The following table is the schedule of Equity Securities at March 31, 2019, December 31, 2018 and March 31, 2018:



Equity Securities

	March 31, 2019	December 31, 2018	March 31, 2018
Equity Securities, at Fair Value	$1,850	$1,774	$1,579

The following is a summary of realized and unrealized gains and losses recognized in net income on equity securities during the three-month period ended March 31, 2019:



	Three months ended March 31, 2019
Net Gain on Equity Securities	$	76
Less: Net gain (loss) recognized during the reporting period on equity securities sold during the period	—
Unrealized net gain recognized during the reporting period on equity securities still held at the reporting date	$	76