Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investment Securities [Abstract]

Summary Of Amortized Cost And Fair Values Of Securitiies Classified As Available For Sale And Held To Maturity

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of June 30, 2013 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	100	$	0	$	0	$	100
U.S. Agency Obligations		25,763		0		1,353		24,410
U.S. Government Sponsored Enterprises ("U.S. GSEs")		12,472		4		564		11,912
Federal Home Loan Bank ("FHLB") Obligations		7,510		7		331		7,186
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")		120,425		3,302		1,241		122,486
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")		18,652		0		609		18,043
Agency Collateralized Mortgage Obligations ("Agency CMOs")		209,093		842		3,188		206,747
Collateralized Loan Obligations ("CLOs")		36,894		0		108		36,786
Asset Backed Securities ("ABSs")		357		41		0		398
Total Available for Sale	$	431,266	$	4,196	$	7,394	$	428,068
Held to Maturity:
Agency MBSs	$	325	$	29	$	0	$	354
Total Held to Maturity	$	325	$	29	$	0	$	354

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2012 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	100	$	0	$	0	$	100
U.S. Agency Obligations		10,956		0		59		10,897
U.S. GSEs		58,731		723		88		59,366
FHLB Obligations		24,546		39		0		24,585
Agency MBSs		142,441		6,326		0		148,767
Agency CMBSs		5,087		0		58		5,029
Agency CMOs		227,815		2,922		338		230,399
Non-agency CMOs		4,589		6		2		4,593
CLOs		24,748		0		221		24,527
ABSs		357		61		0		418
Total Available for Sale	$	499,370	$	10,077	$	766	$	508,681
Held to Maturity:
Agency MBSs	$	407	$	47	$	0	$	454
Total Held to Maturity	$	407	$	47	$	0	$	454

Summary Of Contractual Maturity Distribution Of Debt Securities Classified As Available For Sale And Held To Maturity

The contractual final maturity distribution of the debt securities classified as available for sale and held to maturity as of June 30, 2013, are as follows:

			After One		After Five
	Within		But Within		But Within		After Ten
(In thousands)	One Year		Five Years		Ten Years		Years		Total
Available for Sale (at fair value):
U.S. Treasury Obligations	$	0	$	100	$	0	$	0	$	100
U.S. Agency Obligations		0		0		0		24,410		24,410
U.S. GSEs		0		2,504		9,408		0		11,912
FHLB Obligations		0		0		7,186		0		7,186
Agency MBSs		236		4,696		18,956		98,598		122,486
Agency CMBSs		0		0		13,430		4,613		18,043
Agency CMOs		0		0		3,605		203,142		206,747
CLOs		0		0		26,756		10,030		36,786
ABSs		0		0		0		398		398
Total Available for Sale	$	236	$	7,300	$	79,341	$	341,191	$	428,068
Held to Maturity (at amortized cost):
Agency MBSs	$	3	$	53	$	0	$	269	$	325
Total Held to Maturity	$	3	$	53	$	0	$	269	$	325

The contractual final maturity distribution of the debt securities classified as available for sale and held to maturity as of December 31, 2012, are as follows:

			After One		After Five
	Within		But Within		But Within		After Ten
(In thousands)	One Year		Five Years		Ten Years		Years		Total
Available for Sale (at fair value):
U.S. Treasury Obligations	$	0	$	100	$	0	$	0	$	100
U.S. Agency Obligations		0		0		0		10,897		10,897
U.S. GSEs		0		10,025		49,341		0		59,366
FHLB Obligations		0		0		24,585		0		24,585
Agency MBSs		316		3,387		22,854		122,210		148,767
Agency CMBSs		0		0		5,029		0		5,029
Agency CMOs		0		0		4,139		226,260		230,399
Non-agency CMOs		0		0		0		4,593		4,593
CLOs		0		0		24,527		0		24,527
ABSs		0		0		0		418		418
Total Available for Sale	$	316	$	13,512	$	130,475	$	364,378	$	508,681
Held to Maturity (at amortized cost):
Agency MBSs	$	11	$	73	$	0	$	323	$	407
Total Held to Maturity	$	11	$	73	$	0	$	323	$	407

Summary of Proceeds, Gross Gains and Gross Losses on Available for Sale Securities

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2013		2012		2013		2012
Proceeds	$	51,213	$	27,034	$	51,213	$	41,664
Gross gains		547		372		547		494
Gross losses		(560)		0		(560)		(46)
Net (losses) gains	$	(13)	$	372	$	(13)	$	448

Summary Of Gross Unrealized Losses On Investment Securities Available For Sale And Length Of Time

Gross unrealized losses on investment securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at June 30, 2013, were as follows:

	Less Than 12 Months				12 Months or More				Total
(In thousands)	Fair Value		Loss		Fair Value		Loss			Fair Value	Loss
U.S. Agency Obligations	$	24,410	$	1,353	$	0	$	0	$	24,410	$	1,353
U.S. GSEs		9,408		564		0		0		9,408		564
FHLB Obligations		4,669		331		0		0		4,669		331
Agency MBSs		53,326		1,241		0		0		53,326		1,241
Agency CMBSs		18,043		609		0		0		18,043		609
Agency CMOs		122,330		3,188		0		0		122,330		3,188
CLOs		34,786		108		0		0		34,786		108
Total	$	266,972	$	7,394	$	0	$	0	$	266,972	$	7,394

Gross unrealized losses on investment securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2012, were as follows:

	Less Than 12 Months				12 Months or More				Total
(In thousands)	Fair Value		Loss		Fair Value		Loss		Fair Value		Loss
U.S. Agency Obligations	$	10,897	$	59	$	0	$	0	$	10,897	$	59
U.S. GSEs		9,882		88		0		0		9,882		88
Agency CMBSs		5,029		58		0		0		5,029		58
Agency CMOs		39,047		338		0		0		39,047		338
Non-agency CMOs		0		0		3,041		2		3,041		2
CLOs		24,527		221		0		0		24,527		221
Total	$	89,382	$	764	$	3,041	$	2	$	92,423	$	766