Investment Securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2015 are as follows:


		Gross	Gross
	Amortized	Unrealized	Unrealized	Fair
(In thousands)	Cost	Gains	Losses	Value
Available for Sale:
U.S. Treasury Obligations	$ 25,055	$ 193	$ -	$ 25,248
Federal Home Loan Bank ("FHLB") Obligations	33,982	109	14	34,077
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")	107,187	2,131	427	108,891
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")	23,992	8	349	23,651
Agency Collateralized Mortgage Obligations ("Agency CMOs")	67,127	381	190	67,318
Asset Backed Securities ("ABSs")	337	34	-	371
Total Available for Sale	$ 257,680	$ 2,856	$ 980	$ 259,556
		Gross	Gross
	Amortized	Unrecognized	Unrecognized	Fair
(In thousands)	Cost	Gains	Losses	Value
Held to Maturity:
U.S. Agency Obligations	$ 21,137	$ 479	$ -	21,616
U.S. Government Sponsored Enterprises ("U.S. GSEs")	9,527	88	-	9,615
FHLB Obligations	4,739	110	-	4,849
Agency CMOs	86,340	313	547	86,106
Agency MBSs	7,569	117	-	7,686
Total Held to Maturity	$ 129,312	$ 1,107	$ 547	$ 129,872

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 June 30, 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	$ -	$ 25,248	$ -	$ -	$ 25,248
FHLB Obligations	-	22,131	11,946	-	34,077
Agency MBSs	54	3,797	36,018	69,022	108,891
Agency CMBSs	1,424	13,175	5,018	4,034	23,651
Agency CMOs	-	-	1,962	65,356	67,318
ABSs	-	-	-	371	371
Total Available for Sale	$ 1,478	$ 64,351	$ 54,944	$ 138,783	$ 259,556
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$ -	$ 25,055	$ -	$ -	$ 25,055
FHLB Obligations	-	22,083	11,899	-	33,982
Agency MBSs	53	3,692	35,573	67,869	107,187
Agency CMBSs	1,417	13,374	5,036	4,165	23,992
Agency CMOs	-	-	1,949	65,178	67,127
ABSs	-	-	-	337	337
Total Available for Sale	$ 1,470	$ 64,204	$ 54,457	$ 137,549	$ 257,680

The contractual final maturity distribution of the debt securities classified as held to maturity as of June 30, 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	$ -	$ -	$ -	$ 21,616	$ 21,616
U.S. GSEs	-	-	9,615	-	9,615
FHLB Obligations	-	-	4,849	-	4,849
Agency CMOs	-	-	-	86,106	86,106
Agency MBSs	7	-	103	7,576	7,686
Total Held to Maturity	$ 7	$ -	$ 14,567	$ 115,298	$ 129,872
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$ -	$ -	$ -	$ 21,137	21,137
U.S. GSEs	-	-	9,527	-	9,527
FHLB Obligations	-	-	4,739	-	4,739
Agency CMOs	-	-	-	86,340	86,340
Agency MBSs	7	-	90	7,472	7,569
Total Held to Maturity	$ 7	$ -	$ 14,356	$ 114,949	$ 129,312

Summary of Proceeds, Gross Gains and Gross Losses


	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2015	2014	2015	2014
Proceeds	$ -	18,574	$ -	45,215
Gross gains	-	77	-	302
Gross losses	-	(60)	-	(159)
Net gains	$ -	17	$ -	143

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, 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	$ 5,086	$ 14	$ -	$ -	$ 5,086	$ 14
Agency MBSs	58,192	427	-	-	58,192	427
Agency CMBSs	5,017	19	17,209	330	22,226	349
Agency CMOs	10,982	80	6,846	110	17,828	190
Total Available for Sale	$ 79,277	$ 540	$ 24,055	$ 440	$ 103,332	$ 980
Held to Maturity:
U.S. Agency Obligations	$ -	$ -	$ -	$ -	$ -	$ -
Agency CMOs	49,727	446	5,983	101	55,710	547
Agency MBSs	-	-	-	-	-	-
Total Held to Maturity	$ 49,727	$ 446	$ 5,983	$ 101	$ 55,710	$ 547


	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