INVESTMENT SECURITIES (In Thousands)

The following table is the schedule of Available-For-Sale Securities at September 30, 2019, December 31, 2018 and September 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
September 30, 2019
Available-For-Sale Securities, at Amortized Cost	$	5,003	$	965	$	306,374	$	1,000	$	313,342
Available-For-Sale Securities, at Fair Value	5,056		965		307,361		800		314,182
Gross Unrealized Gains	53		—		1,482		—		1,535
Gross Unrealized Losses	—		—		495		200		695
Available-For-Sale Securities, Pledged as Collateral									232,043

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	—	$	226	$	81	$	—	$	307
From 1 - 5 Years	5,003		299		184,202		—		189,504
From 5 - 10 Years	—		—		84,036		—		84,036
Over 10 Years	—		440		38,055		1,000		39,495

Maturities of Debt Securities, at Fair Value:
Within One Year	$	—	$	227	$	82	$	—	$	309
From 1 - 5 Years	5,056		299		185,197		—		190,552
From 5 - 10 Years	—		—		84,013		—		84,013
Over 10 Years	—		439		38,069		800		39,308

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	—	$	—	$	4,763	$	—	$	4,763
12 Months or Longer	—		—		114,483		800		115,283
Total	$	—	$	—	$	119,246	$	800	$	120,046
Number of Securities in a Continuous Loss Position	—		—		48		1		49

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	—	$	—	$	70	$	—	$	70
12 Months or Longer	—		—		425		200		625
Total	$	—	$	—	$	495	$	200	$	695

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	5,003
US Agency Obligations, at Fair Value	5,056
US Government Agency Securities, at Amortized Cost					$	64,455
US Government Agency Securities, at Fair Value					64,364
Government Sponsored Entity Securities, at Amortized Cost					241,919
Government Sponsored Entity Securities, at Fair Value					242,997



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
September 30, 2018
Available-For-Sale Securities, at Amortized Cost	$	60,135	$	2,545	$	284,236	$	1,000	$	347,916
Available-For-Sale Securities, at Fair Value	59,602		2,548		277,461		800		340,411
Gross Unrealized Gains	—		3		201		—		204
Gross Unrealized Losses	533		—		6,976		200		7,709
Available-For-Sale Securities, Pledged as Collateral									219,587

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	4,831	$	1,120	$	167,718	$	—	$	173,669
12 Months or Longer	54,771		—		71,433		800		127,004
Total	$	59,602	$	1,120	$	239,151	$	800	$	300,673
Number of Securities in a Continuous Loss Position	14		5		90		1		110

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	193	$	—	$	3,165	$	—	$	3,358
12 Months or Longer	340		—		3,811		200		4,351
Total	$	533	$	—	$	6,976	$	200	$	7,709

Disaggregated Details:
US Treasury Obligations, at Amortized Cost	$	—
US Treasury Obligations, at Fair Value	—
US Agency Obligations, at Amortized Cost	60,135
US Agency Obligations, at Fair Value	59,602
US Government Agency Securities, at Amortized Cost					$	74,160
US Government Agency Securities, at Fair Value					74,098
Government Sponsored Entity Securities, at Amortized Cost					210,076
Government Sponsored Entity Securities, at Fair Value					203,363

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



Held-To-Maturity Securities
	State and Municipal Obligations		Mortgage- Backed Securities		Total Held-To Maturity Securities
September 30, 2019
Held-To-Maturity Securities, at Amortized Cost	$	215,661	$	39,434	$	255,095
Held-To-Maturity Securities, at Fair Value	219,296		39,832		259,128
Gross Unrealized Gains	3,669		408		4,077
Gross Unrealized Losses	34		10		44
Held-To-Maturity Securities, Pledged as Collateral					244,373

Maturities of Debt Securities, at Amortized Cost:
Within One Year	$	21,974	$	3,691	$	25,665
From 1 - 5 Years	112,660		35,743		148,403
From 5 - 10 Years	79,378		—		79,378
Over 10 Years	1,649		—		1,649

Maturities of Debt Securities, at Fair Value:
Within One Year	$	22,007	$	3,689	$	25,696
From 1 - 5 Years	114,246		36,143		150,389
From 5 - 10 Years	81,359		—		81,359
Over 10 Years	1,684		—		1,684

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	763	$	3,082	$	3,845
12 Months or Longer	6,764		1,711		8,475
Total	$	7,527	$	4,793	$	12,320

Number of Securities in a Continuous Loss Position	19		19		38

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	1	$	9	$	10
12 Months or Longer	33		1		34
Total	$	34	$	10	$	44

Disaggregated Details:
US Government Agency Securities, at Amortized Cost			$	1,844
US Government Agency Securities, at Fair Value			1,854
Government Sponsored Entity Securities, at Amortized Cost			37,590
Government Sponsored Entity Securities, at Fair Value			37,978



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

September 30, 2018
Held-To-Maturity Securities, at Amortized Cost	$	239,367	$	50,585	$	289,952
Held-To-Maturity Securities, at Fair Value	233,557		49,162		282,719
Gross Unrealized Gains	261		—		261
Gross Unrealized Losses	6,071		1,423		7,494
Held-To-Maturity Securities, Pledged as Collateral					268,229

Securities in a Continuous Loss Position, at Fair Value:
Less than 12 Months	$	95,944	$	46,375	$	142,319
12 Months or Longer	86,378		2,787		89,165
Total	$	182,322	$	49,162	$	231,484
Number of Securities in a Continuous Loss Position	535		47		582

Unrealized Losses on Securities in a Continuous Loss Position:
Less than 12 Months	$	1,443	$	1,303	$	2,746
12 Months or Longer	4,628		120		4,748
Total	$	6,071	$	1,423	$	7,494

Held-To-Maturity Securities

State and

Municipal

Obligations

Mortgage-

Backed

Securities

Total

Held-To

Maturity

Securities

September 30, 2018

Disaggregated Details:

US Government Agency

Securities, at Amortized Cost

3,147

US Government Agency

Securities, at Fair Value

2,222

Government Sponsored Entity

Securities, at Amortized Cost

47,438

Government Sponsored Entity
Securities, at Fair Value

46,940

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 September 30, 2019, December 31, 2018 and September 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. 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 September 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 there is no current intention to sell any of our temporarily impaired securities, and because it is not more likely than not that it 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 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 September 30, 2019, December 31, 2018 and September 30, 2018:



Equity Securities

	September 30, 2019	December 31, 2018	September 30, 2018
Equity Securities, at Fair Value	$1,996	$1,774	$1,916

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



	Quarterly Period Ended:				Year-to-Date Period Ended:
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Net Gain on Equity Securities	$	146	$	114	$	222	$	355
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	$	146	$	114	$	222	$	355