Investment Securities (Tables)

6 Months Ended

Jun. 30, 2014

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, 2014 are as follows:

				Gross		Gross
		Amortized		Unrealized		Unrealized		Fair
(In thousands)		Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	100	$	-	$	-	$	100
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")		92,116		3,049		341		94,824
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")		18,126		-		442		17,684
Agency Collateralized Mortgage Obligations ("Agency CMOs")		66,246		310		324		66,232
Collateralized Loan Obligations ("CLOs")		9,409		-		49		9,360
Asset Backed Securities ("ABSs")		355		38		-		393
Total Available for Sale	$	186,352	$	3,397	$	1,156	$	188,593
				Gross		Gross
		Amortized		Unrecognized		Unrecognized		Fair
(In thousands)		Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	22,864	$	209	$	18	$	23,055
U.S. Government Sponsored Enterprises ("U.S. GSEs")		9,470		-		171		9,299
Federal Home Loan Bank ("FHLB") Obligations		4,702		21		-		4,723
Agency MBSs		8,588		134		-		8,722
Agency CMOs		101,224		106		1,399		99,931
Total Held to Maturity	$	146,848	$	470	$	1,588	$	145,730

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2013 are as follows:

				Gross		Gross
		Amortized		Unrealized		Unrealized		Fair
(In thousands)		Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	100	$	-	$	-	$	100
Agency MBSs		97,882		2,876		1,487		99,271
Agency CMBSs		18,398		-		760		17,638
Agency CMOs		98,162		254		1,207		97,209
CLOs		37,834		73		-		37,907
ABSs		357		31		-		388
Total Available for Sale	$	252,733	$	3,234	$	3,454	$	252,513
				Gross		Gross
		Amortized		Unrecognized		Unrecognized		Fair
(In thousands)		Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	23,580		-	$	458	$	23,122
U.S. GSEs		9,442		-		512		8,930
FHLB Obligations		4,684		-		191		4,493
Agency CMOs		94,105		-		2,426		91,679
Agency MBSs		9,015		25		177		8,863
Total Held to Maturity	$	140,826	$	25	$	3,764	$	137,087

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 as of June 30, 2014, 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	$	100	$	-	$	-	$	-	$	100
Agency MBSs		99		3,276		18,492		72,957		94,824
Agency CMBSs		-		-		13,337		4,347		17,684
Agency CMOs		-		-		2,682		63,550		66,232
CLOs		-		-		9,360		-		9,360
ABSs		-		-		-		393		393
Total Available for Sale	$	199	$	3,276	$	43,871	$	141,247	$	188,593
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$	100	$	-	$	-	$	-	$	100
Agency MBSs		93		3,086		17,639		71,298		92,116
Agency CMBSs		-		-		13,640		4,486		18,126
Agency CMOs		-		-		2,664		63,582		66,246
CLOs		-		-		9,409		-		9,409
ABSs		-		-		-		355		355
Total Available for Sale	$	193	$	3,086	$	43,352	$	139,721	$	186,352

The contractual final maturity distribution of the debt securities classified as held to maturity as of June 30, 2014, are as follows:

				After One		After Five
		Within		But Within		But Within		After Ten
(In thousands)		One Year		Five Years		Ten Years		Years		Total
Held to Maturity (at fair value):
U.S. Agency Obligations	$	-	$	-	$	-	$	23,055	$	23,055
U.S. GSEs		-		-		9,299		-		9,299
FHLB Obligations		-		-		4,723		-		4,723
Agency MBSs		1		19		122		8,580		8,722
Agency CMOs		-		-		-		99,931		99,931
Total Held to Maturity	$	1	$	19	$	14,144	$	131,566	$	145,730
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$	-	$	-	$	-	$	22,864	$	22,864
U.S. GSEs		-		-		9,470		-		9,470
FHLB Obligations		-		-		4,702		-		4,702
Agency MBSs		1		18		107		8,462		8,588
Agency CMOs		-		-		-		101,224		101,224
Total Held to Maturity	$	1	$	18	$	14,279	$	132,550	$	146,848

Summary of Proceeds, Gross Gains and Gross Losses

		Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)		2014		2013		2014		2013
Proceeds	$	18,574	$	51,213	$	45,215	$	51,213
Gross gains		77		547		302		547
Gross losses		(60)		(560)		(159)		(560)
Net gains	$	17	$	(13)	$	143	$	(13)

Summary Of Gross Unrealized Losses On Investment Securities

Gross unrealized losses on investment securities 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, 2014, were as follows:

		Less Than 12 Months				12 Months or More				Total
		Fair				Fair				Fair
(In thousands)		Value		Loss		Value		Loss		Value		Loss
Available for Sale:
Agency MBSs	$	5,201	$	17	$	28,984	$	324	$	34,185	$	341
Agency CMBSs		-		-		17,684		442		17,684		442
Agency CMOs		10,254		32		11,944		292		22,198		324
CLOs		9,360		49		-		-		9,360		49
Total Available for Sale	$	24,815	$	98	$	58,612	$	1,058	$	83,427	$	1,156
Held to Maturity:
U.S. Agency Obligations	$	9,160	$	18	$	-	$	-	$	9,160	$	18
U.S. GSEs		-		-		9,299		171		9,299		171
FHLB Obligations		-		-		-		-		-		-
Agency CMOs		42,863		718		38,411		681		81,274		1,399
Agency MBSs		-		-		-		-		-		-
Total Held to Maturity	$	52,023	$	736	$	47,710	$	852	$	99,733	$	1,588

Gross unrealized losses on investment securities 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 over our entire holding period, at December 31, 2013, were as follows:

		Less Than 12 Months				12 Months or More				Total
		Fair				Fair				Fair
(In thousands)		Value		Loss		Value		Loss		Value		Loss
Available for Sale:
Agency MBSs	$	46,547	$	1,487	$	-	$	-	$	46,547	$	1,487
Agency CMBSs		12,778		578		4,860		182		17,638		760
Agency CMOs		57,904		977		3,557		230		61,461		1,207
Total Available for Sale	$	117,229	$	3,042	$	8,417	$	412	$	125,646	$	3,454
Held to Maturity:
U.S. Agency Obligations	$	13,722	$	307	$	9,400	$	151	$	23,122	$	458
U.S. GSEs		8,930		512		-		-		8,930		512
FHLB Obligations		4,493		191		-		-		4,493		191
Agency CMOs		66,203		1,410		25,476		1,016		91,679		2,426
Agency MBSs		8,569		177		-		-		8,569		177
Total Held to Maturity	$	101,917	$	2,597	$	34,876	$	1,167	$	136,793	$	3,764