Investment Securities (Tables)

9 Months Ended

Sep. 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 September 30, 2014 are as follows:

				Gross		Gross
		Amortized		Unrealized		Unrealized		Fair
(In thousands)		Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	20,057	$	-	$	40	$	20,017
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")		87,162		2,584		479		89,267
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")		17,988		-		528		17,460
Agency Collateralized Mortgage Obligations ("Agency CMOs")		59,118		190		391		58,917
Asset Backed Securities ("ABSs")		353		35		-		388
Total Available for Sale	$	184,678	$	2,809	$	1,438	$	186,049
				Gross		Gross
		Amortized		Unrecognized		Unrecognized		Fair
(In thousands)		Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	22,259	$	147	$	27	$	22,379
U.S. Government Sponsored Enterprises ("U.S. GSEs")		9,483		-		148		9,335
Federal Home Loan Bank ("FHLB") Obligations		4,711		1		-		4,712
Agency MBSs		8,347		117		-		8,464
Agency CMOs		97,310		11		1,800		95,521
Total Held to Maturity	$	142,110	$	276	$	1,975	$	140,411

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 September 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	$	-	$	20,017	$	-	$	-	$	20,017
Agency MBSs		61		3,077		17,472		68,657		89,267
Agency CMBSs		-		4,883		8,359		4,218		17,460
Agency CMOs		-		-		2,481		56,436		58,917
ABSs		-		-		-		388		388
Total Available for Sale	$	61	$	27,977	$	28,312	$	129,699	$	186,049
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$	-	$	20,057	$	-	$	-	$	20,057
Agency MBSs		58		2,911		16,693		67,500		87,162
Agency CMBSs		-		4,964		8,618		4,406		17,988
Agency CMOs		-		-		2,469		56,649		59,118
ABSs		-		-		-		353		353
Total Available for Sale	$	58	$	27,932	$	27,780	$	128,908	$	184,678

The contractual final maturity distribution of the debt securities classified as held to maturity as of September 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	$	-	$	-	$	-	$	22,379	$	22,379
U.S. GSEs		-		-		9,335		-		9,335
FHLB Obligations		-		-		4,712		-		4,712
Agency MBSs		-		16		115		8,333		8,464
Agency CMOs		-		-		-		95,521		95,521
Total Held to Maturity	$	-	$	16	$	14,162	$	126,233	$	140,411
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$	-	$	-	$	-	$	22,259	$	22,259
U.S. GSEs		-		-		9,483		-		9,483
FHLB Obligations		-		-		4,711		-		4,711
Agency MBSs		-		16		101		8,230		8,347
Agency CMOs		-		-		-		97,310		97,310
Total Held to Maturity	$	-	$	16	$	14,295	$	127,799	$	142,110

Summary of Proceeds, Gross Gains and Gross Losses

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)		2014		2013		2014		2013
Proceeds	$	11,674	$	2,001	$	56,889	$	53,215
Gross gains		-		1		302		548
Gross losses		(37)		-		(196)		(560)
Net gains	$	(37)	$	1	$	106	$	(12)

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 September 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:
U.S. Treasury Obligations	$	20,017	$	40	$	-	$	-	$	20,017	$	40
Agency MBSs		9,532		48		27,847		431		37,379		479
Agency CMBSs		-		-		17,460		528		17,460		528
Agency CMOs		20,912		98		11,374		293		32,286		391
Total Available for Sale	$	50,461	$	186	$	56,681	$	1,252	$	107,142	$	1,438
Held to Maturity:
U.S. Agency Obligations	$	8,817	$	27	$	-	$	-	$	8,817	$	27
U.S. GSEs		-		-		9,335		148		9,335		148
Agency CMOs		50,726		834		36,534		966		87,260		1,800
Total Held to Maturity	$	59,543	$	861	$	45,869	$	1,114	$	105,412	$	1,975

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