Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31, 2015 are as follows:


		Gross	Gross
	Amortized	Unrealized	Unrealized	Fair
(In thousands)	Cost	Gains	Losses	Value
Available for Sale:
U.S. Treasury Obligations	$ 25,051	$ 271	$ -	$ 25,322
Federal Home Loan Bank ("FHLB") Obligations	10,119	19	4	10,134
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")	113,454	2,977	84	116,347
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")	25,080	19	243	24,856
Agency Collateralized Mortgage Obligations ("Agency CMOs")	71,423	613	92	71,944
Asset Backed Securities ("ABSs")	344	40	-	384
Total Available for Sale	$ 245,471	$ 3,939	$ 423	$ 248,987
		Gross	Gross
	Amortized	Unrecognized	Unrecognized	Fair
(In thousands)	Cost	Gains	Losses	Value
Held to Maturity:
U.S. Agency Obligations	$ 21,387	$ 672	$ -	22,059
U.S. Government Sponsored Enterprises ("U.S. GSEs")	9,512	195	-	9,707
FHLB Obligations	4,730	176	-	4,906
Agency CMOs	90,760	817	115	91,462
Agency MBSs	7,856	247	-	8,103
Total Held to Maturity	$ 134,245	$ 2,107	$ 115	$ 136,237

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2014 are as follows:


		Gross	Gross
	Amortized	Unrealized	Unrealized	Fair
(In thousands)	Cost	Gains	Losses	Value
Available for Sale:
U.S. Treasury Obligations	$ 25,048	$ 57	$ 12	$ 25,093
Agency MBSs	92,827	2,680	100	95,407
Agency CMBSs	22,056	20	372	21,704
Agency CMOs	60,880	241	239	60,882
ABSs	351	36	-	387
Total Available for Sale	$ 201,162	$ 3,034	$ 723	$ 203,473
		Gross	Gross
	Amortized	Unrecognized	Unrecognized	Fair
(In thousands)	Cost	Gains	Losses	Value
Held to Maturity:
U.S. Agency Obligations	$ 22,072	$ 597	$ -	$ 22,669
U.S. GSEs	9,498	59	-	9,557
FHLB Obligations	4,720	100	-	4,820
Agency CMOs	94,022	280	519	93,783
Agency MBSs	8,109	233	-	8,342
Total Held to Maturity	$ 138,421	$ 1,269	$ 519	$ 139,171

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 March 31, 2015, 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	$ -	$ 25,322	$ -	$ -	$ 25,322
FHLB Obligations	-	10,134	-	-	10,134
Agency MBSs	26	4,152	38,391	73,778	116,347
Agency CMBSs	2,291	13,313	5,087	4,165	24,856
Agency CMOs	-	-	2,133	69,811	71,944
ABSs	-	-	-	384	384
Total Available for Sale	$ 2,317	$ 52,921	$ 45,611	$ 148,138	$ 248,987
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$ -	$ 25,051	$ -	$ -	$ 25,051
FHLB Obligations	-	10,119	-	-	10,119
Agency MBSs	26	4,014	37,592	71,822	113,454
Agency CMBSs	2,271	13,451	5,112	4,246	25,080
Agency CMOs	-	-	2,119	69,304	71,423
ABSs	-	-	-	344	344
Total Available for Sale	$ 2,297	$ 52,635	$ 44,823	$ 145,716	$ 245,471

The contractual final maturity distribution of the debt securities classified as held to maturity as of March 31 2015, 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	$ -	$ -	$ -	$ 22,059	$ 22,059
U.S. GSEs	-	-	9,707	-	9,707
FHLB Obligations	-	-	4,906	-	4,906
Agency CMOs	-	-	-	91,462	91,462
Agency MBSs	-	9	107	7,987	8,103
Total Held to Maturity	$ -	$ 9	$ 14,720	$ 121,508	$ 136,237
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$ -	$ -	$ -	$ 21,387	$ 21,387
U.S. GSEs	-	-	9,512	-	9,512
FHLB Obligations	-	-	4,730	-	4,730
Agency CMOs	-	-	-	90,760	90,760
Agency MBSs	-	9	94	7,753	7,856
Total Held to Maturity	$ -	$ 9	$ 14,336	$ 119,900	$ 134,245

Summary of Proceeds, Gross Gains and Gross Losses


(In thousands)	2015	2014
Proceeds	$ -	$ 26,641
Gross gains	-	225
Gross losses	-	(99)
Net gains	$ -	$ 126

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 March 31, 2015 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:
FHLB Obligations	$ 5,103	$ 4	$ -	$ -	$ 5,103	$ 4
Agency MBSs	17,239	84	-	-	17,239	84
Agency CMBSs	5,087	25	17,479	218	22,566	243
Agency CMOs	6,577	35	7,258	57	13,835	92
Total Available for Sale	$ 34,006	$ 148	$ 24,737	$ 275	$ 58,743	$ 423
Held to Maturity:
U.S. Agency Obligations	$ -	$ -	$ -	$ -	$ -	$ -
Agency CMOs	7,926	44	6,428	71	14,354	115
Agency MBSs	-	-	-	-	-	-
Total Held to Maturity	$ 7,926	$ 44	$ 6,428	$ 71	$ 14,354	$ 115


	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	$ 5,080	$ 12	$ -	$ -	$ 5,080	$ 12
Agency MBSs	7,893	23	10,763	77	18,656	100
Agency CMBSs	-	-	17,478	372	17,478	372
Agency CMOs	11,384	49	10,962	190	22,346	239
Total Available for Sale	$ 24,357	$ 84	$ 39,203	$ 639	$ 63,560	$ 723
Held to Maturity:
U.S. Agency Obligations	$ -	$ -	$ -	$ -	$ -	$ -
U.S. GSEs	-	-	-	-	-	-
FHLB Obligations	-	-	-	-	-	-
Agency CMOs	14,338	108	43,911	411	58,249	519
Agency MBSs	-	-	-	-	-	-
Total Held to Maturity	$ 14,338	$ 108	$ 43,911	$ 411	$ 58,249	$ 519