INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at June 30, 2019, December 31, 2018 and June 30, 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
June 30, 2019
Available-For-Sale Securities, at Amortized Cost	$	17,506	$	965	$	266,235	$	1,000	$	285,706
Available-For-Sale Securities, at Fair Value	17,524		967		266,587		800		285,878
Gross Unrealized Gains	31		2		1,293		—		1,326
Gross Unrealized Losses	13		—		941		200		1,154
Available-For-Sale Securities, Pledged as Collateral									246,202

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	12,503	$	226	$	267	$	—	$	12,996
From 1 - 5 Years	5,003		299		165,852		—		171,154
From 5 - 10 Years	—		—		75,603		—		75,603
Over 10 Years	—		440		24,513		1,000		25,953

Maturities of Debt Securities, at Fair Value:
Within One Year	$	12,490	$	229	$	268	$	—	$	12,987
From 1 - 5 Years	5,034		298		166,178		—		171,510
From 5 - 10 Years	—		—		75,538		—		75,538
Over 10 Years	—		440		24,603		800		25,843

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	35	$	—	$	24,948	$	—	$	24,983
12 Months or Longer	12,454		—		130,229		800		143,483
Total	$	12,489	$	—	$	155,177	$	800	$	168,466
Number of Securities in a Continuous Loss Position	2		—		61		1		64

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	234	$	—	$	234
12 Months or Longer	13		—		707		200		920
Total	$	13	$	—	$	941	$	200	$	1,154

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	17,506
US Agency Obligations, at Fair Value	17,524
US Government Agency Securities, at Amortized Cost					$	67,760
US Government Agency Securities, at Fair Value					67,613
Government Sponsored Entity Securities, at Amortized Cost					198,475
Government Sponsored Entity Securities, at Fair Value					198,974



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
June 30, 2018
Available-For-Sale Securities, at Amortized Cost	$	60,199	$	3,377	$	267,113	$	1,000	$	331,689
Available-For-Sale Securities, at Fair Value	59,615		3,383		261,589		800		325,387
Gross Unrealized Gains	—		6		332		—		338
Gross Unrealized Losses	584		—		5,856		200		6,640
Available-For-Sale Securities, Pledged as Collateral									282,481

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	17,218	$	1,797	$	144,265	$	—	$	163,280
12 Months or Longer	42,397		—		72,209		800		115,406
Total	$	59,615	$	1,797	$	216,474	$	800	$	278,686
Number of Securities in a Continuous Loss Position	14		6		79		1		100

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	297	$	—	$	2,409	$	—	$	2,706
12 Months or Longer	287		—		3,447		200		3,934
Total	$	584	$	—	$	5,856	$	200	$	6,640

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	60,199
US Agency Obligations, at Fair Value	59,615
US Government Agency Securities, at Amortized Cost					$	68,030
US Government Agency Securities, at Fair Value					68,083
Government Sponsored Entity Securities, at Amortized Cost					199,083
Government Sponsored Entity Securities, at Fair Value					193,506

The following table is the schedule of Held-To-Maturity Securities at June 30, 2019, December 31, 2018 and June 30, 2018:



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities			Total Held-To Maturity Securities
June 30, 2019
Held-To-Maturity Securities, at Amortized Cost	$	220,529	$	42,012		$	262,541
Held-To-Maturity Securities, at Fair Value	223,654		42,414			266,068
Gross Unrealized Gains	3,206		415			3,621
Gross Unrealized Losses	81		13			94
Held-To-Maturity Securities, Pledged as Collateral						251,639

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	24,060	$	1,884		$	25,944
From 1 - 5 Years	114,782		40,128			154,910
From 5 - 10 Years	80,037		—			80,037
Over 10 Years	1,650		—			1,650

Maturities of Debt Securities, at Fair Value:
Within One Year	$	24,109	$	1,907		$	26,016
From 1 - 5 Years	116,273		40,507			156,780
From 5 - 10 Years	81,593		—			81,593
Over 10 Years	1,679		—			1,679

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	159	$	(67	)	$	92
12 Months or Longer	14,374		1,711			16,085
Total	$	14,533	$	1,644		$	16,177

Number of Securities in a Continuous Loss Position	36		1			37

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—		$	—
12 Months or Longer	81		13			94
Total	$	81	$	13		$	94

Disaggregated Details:
US Government Agency Securities, at Amortized Cost			$	1,942
US Government Agency Securities, at Fair Value			1,948
Government Sponsored Entity Securities, at Amortized Cost			40,070
Government Sponsored Entity Securities, at Fair Value			40,466



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

June 30, 2018
Held-To-Maturity Securities, at Amortized Cost	$	244,016	$	53,869	$	297,885
Held-To-Maturity Securities, at Fair Value	239,841		52,764		292,605
Gross Unrealized Gains	497		—		497
Gross Unrealized Losses	4,672		1,105		5,777
Held-To-Maturity Securities, Pledged as Collateral					278,627

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	68,612	$	49,977	$	118,589
12 Months or Longer	90,948		2,787		93,735
Total	$	159,560	$	52,764	$	212,324
Number of Securities in a Continuous Loss Position	465		47		512

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	633	$	1,021	$	1,654
12 Months or Longer	4,039		84		4,123
Total	$	4,672	$	1,105	$	5,777

Held-To-Maturity Securities

State and

Municipal

Obligations

Mortgage-

Backed

Securities

Total

Held-To

Maturity

Securities

June 30, 2018

Disaggregated Details:

US Government Agency

Securities, at Amortized Cost

3,265

US Government Agency

Securities, at Fair Value

2,346

Government Sponsored Entity

Securities, at Amortized Cost

50,604

Government Sponsored Entity
Securities, at Fair Value

50,418

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 June 30, 2019, December 31, 2018 and June 30, 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 June 30, 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 June 30, 2019, December 31, 2018 and June 30, 2018:



Equity Securities

	June 30, 2019	December 31, 2018	June 30, 2018
Equity Securities, at Fair Value	$1,850	$1,774	$1,802

The following is a summary of realized and unrealized gains and losses recognized in net income on equity securities during the three- and six-month periods ended June 30, 2019 and 2018:



	Quarterly Period Ended:				Year-to-Date Period Ended:
	June 30, 2019		June 30, 2018		June 30, 2019		June 30, 2018
Net Gain on Equity Securities	$	—	$	223	$	76	$	241
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	$	—	$	223	$	76	$	241