INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of amortized cost and fair values of securities 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 December 31, 2016 are as follows:


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	25,079	$	104	$	—	$	25,183
U.S. Government Sponsored Enterprises ("U.S. GSEs")		93,883		106		(636)		93,353
Federal Home Loan Bank ("FHLB") Obligations		67,362		100		(456)		67,006
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")		74,573		1,101		(465)		75,209
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")		23,972		—		(364)		23,608
Agency Collateralized Mortgage Obligations ("Agency CMOs")		49,694		46		(407)		49,333
Asset Backed Securities ("ABSs")		283		23		—		306
Total Available for Sale	$	334,846	$	1,480	$	(2,328)	$	333,998


			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	17,849	$	119	$	(33)	$	17,935
Agency MBSs		5,787		92		—		5,879
Agency CMOs		62,058		208		(331)		61,935
Total Held to Maturity	$	85,694	$	419	$	(364)	$	85,749

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2015 are as follows:


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	25,064	$	61	$	(12)	$	25,113
U.S. GSEs		20,895		3		(104)		20,794
FHLB Obligations		51,230		107		(226)		51,111
Agency MBSs		96,073		1,688		(512)		97,249
Agency CMBSs		24,950		—		(397)		24,553
Agency CMOs		64,648		74		(443)		64,279
ABSs		325		30		—		355
Total Available for Sale	$	283,185	$	1,963	$	(1,694)	$	283,454


			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	20,084	$	486	$	—	$	20,570
U.S. GSEs		9,556		166		—		9,722
FHLB Obligations		4,758		76		—		4,834
Agency MBSs		7,027		154		—		7,181
Agency CMOs		78,249		253		(716)		77,786
Total Held to Maturity	$	119,674	$	1,135	$	(716)	$	120,093

Schedule of contractual final maturity distribution of debt securities classified as available for sale or held to maturity

The contractual final maturity distribution of the debt securities classified as available for sale of December 31, 2016, are as follows:


									Securities
			After One		After Five				not due
	Within		But Within		But Within		After Ten		at a Single
(In thousands)	One Year		Five Years		Ten Years		Years		Maturity		Total
Available for Sale (at fair value):
U.S. Treasury Obligations	$	15,109	$	10,074	$	—	$	—	$	N/A	$	25,183
U.S. GSEs		—		93,353		—		—		N/A		93,353
FHLB Obligations		—		61,005		6,001		—		N/A		67,006
Agency MBSs		N/A		N/A		N/A		N/A		75,209		75,209
Agency CMBSs		N/A		N/A		N/A		N/A		23,608		23,608
Agency CMOs		N/A		N/A		N/A		N/A		49,333		49,333
ABSs		N/A		N/A		N/A		N/A		306		306
Total Available for Sale	$	15,109	$	164,432	$	6,001	$	—	$	148,456	$	333,998
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$	15,091	$	9,988	$	—	$	—	$	N/A	$	25,079
U.S. GSEs		—		93,883		—		—		N/A		93,883
FHLB Obligations		—		61,439		5,923		—		N/A		67,362
Agency MBSs		N/A		N/A		N/A		N/A		74,573		74,573
Agency CMBSs		N/A		N/A		N/A		N/A		23,972		23,972
Agency CMOs		N/A		N/A		N/A		N/A		49,694		49,694
ABSs		N/A		N/A		N/A		N/A		283		283
Total Available for Sale	$	15,091	$	165,310	$	5,923	$	—	$	148,522	$	334,846

The contractual final maturity distribution of the debt securities classified as held to maturity of December 31, 2016, are as follows:


										Securities
			After One		After Five						not due
	Within		But Within		But Within		After Ten			at a Single
(In thousands)	One Year		Five Years		Ten Years		Years			Maturity			Total
Held to Maturity (at fair value):
U.S. Agency Obligations	$	—	$	—	$	—		$	17,935		$	N/A		$	17,935
Agency MBSs		N/A		N/A		N/A			N/A			5,879			5,879
Agency CMOs		N/A		N/A		N/A			N/A			61,935			61,935
Total Held to Maturity	$	—	$	—	$	—		$	17,935		$	67,814		$	85,749
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$	—	$	—	$	—		$	17,849		$	N/A		$	17,849
Agency MBSs		N/A		N/A		N/A			N/A			5,787			5,787
Agency CMOs		N/A		N/A		N/A			N/A			62,058			62,058
Total Held to Maturity	$	—	$	—	$	—		$	17,849		$	67,845		$	85,694

Schedule of proceeds, gross gains and gross losses on available for sale securities




(In thousands)	2016		2015		2014
Proceeds	$	—	$	4,263	$	56,889
Gross gains		—		—		303
Gross losses		—		—		(196)
Net gains	$	—	$	—	$	107

Schedule of gross unrealized losses on investment securities and fair value of related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position

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, 2016, were as follows:


	Less Than 12 Months					12 Months or More					Total
(In thousands)	Number of Issues	Fair Value		Unrealized Loss		Number of Issues	Fair Value		Unrealized Loss		Number of Issues	Fair Value		Unrealized Loss
Available for Sale:
U.S. GSEs	8	$	42,404	$	(636)	—	$	—	$	—	8	$	42,404	$	(636)
FHLB Obligations	9		45,870		(456)	—		—		—	9		45,870		(456)
Agency MBSs	16		48,777		(465)	—		—		—	16		48,777		(465)
Agency CMBSs	6		23,608		(364)	—		—		—	6		23,608		(364)
Agency CMOs	15		33,935		(332)	2		2,227		(75)	17		36,162		(407)
Total	54	$	194,594	$	(2,253)	2	$	2,227	$	(75)	56	$	196,821	$	(2,328)

Gross unrecognized losses on investment securities held to maturity and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrecognized loss position, at December 31, 2016, were as follows:


	Less Than 12 Months					12 Months or More					Total
(In thousands)	Number of Issues	Fair Value		Unrecognized Loss		Number of Issues	Fair Value		Unrecognized Loss		Number of Issues	Fair Value		Unrecognized Loss
Held to Maturity:
U.S. Agency Obligations	1	$	7,230	$	(33)	—	$	—	$	—	1	$	7,230	$	(33)
Agency CMOs	13		26,480		(212)	1		3,162		(119)	14		29,642		(331)
Total	14	$	33,710	$	(245)	1	$	3,162	$	(119)	15	$	36,872	$	(364)


	Less Than 12 Months					12 Months or More					Total
(In thousands)	Number of Issues	Fair Value		Unrealized Loss		Number of Issues	Fair Value		Unrealized Loss		Number of Issues	Fair Value		Unrealized Loss
Available for Sale:
U.S. Treasury Obligations	3	$	15,068	$	(12)	—	$	—	$	—	3	$	15,068	$	(12)
U.S. GSEs	3		14,817		(104)	—		—		—	3		14,817		(104)
FHLB Obligations	8		39,094		(226)	—		—		—	8		39,094		(226)
Agency MBSs	17		60,748		(512)	—		—		—	17		60,748		(512)
Agency CMBSs	5		19,608		(331)	1		4,761		(66)	6		24,369		(397)
Agency CMOs	15		42,235		(283)	3		6,089		(160)	18		48,324		(443)
Total	51	$	191,570	$	(1,468)	4	$	10,850	$	(226)	55	$	202,420	$	(1,694)


	Less Than 12 Months					12 Months or More					Total
(In thousands)	Number of Issues	Fair Value		Unrecognized Loss		Number of Issues	Fair Value		Unrecognized Loss		Number of Issues	Fair Value		Unrecognized Loss
Held to Maturity:
Agency CMOs	14	$	51,713	$	(623)	2	$	5,287	$	(93)	16	$	57,000	$	(716)
Total	14	$	51,713	$	(623)	2	$	5,287	$	(93)	16	$	57,000	$	(716)