INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2017

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 March 31, 2017 were as follows:


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(In thousands)	Cost		Gains		Losses		Value
Available for Sale:
U.S. Treasury Obligations	$	10,089	$	75	$	—	$	10,164
U.S. Government Sponsored Enterprises ("U.S. GSEs")		83,916		127		(531)		83,512
Federal Home Loan Bank ("FHLB") Obligations		67,302		101		(353)		67,050
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")		63,919		762		(404)		64,277
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")		23,784		—		(414)		23,370
Agency Collateralized Mortgage Obligations ("Agency CMOs")		39,871		32		(287)		39,616
Total Available for Sale	$	288,881	$	1,097	$	(1,989)	$	287,989


			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(In thousands)	Cost		Gains		Losses		Value
Held to Maturity:
U.S. Agency Obligations	$	16,864	$	121	$	(6)	$	16,979
Agency MBSs		5,548		101		—		5,649
Agency CMOs		58,579		211		(330)		58,460
Total Held to Maturity	$	80,991	$	433	$	(336)	$	81,088

The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2016 were 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. GSEs		93,883		106		(636)		93,353
FHLB Obligations		67,362		100		(456)		67,006
Agency MBSs		74,573		1,101		(465)		75,209
Agency CMBSs		23,972		—		(364)		23,608
Agency CMOs		49,694		46		(407)		49,333
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

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 as of March 31, 2017, were 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	$	100	$	10,064	$	—	$	—	$	N/A	$	10,164
U.S. GSEs		—		83,512		—		—		N/A		83,512
FHLB Obligations		—		61,054		5,996		—		N/A		67,050
Agency MBSs		N/A		N/A		N/A		N/A		64,277		64,277
Agency CMBSs		N/A		N/A		N/A		N/A		23,370		23,370
Agency CMOs		N/A		N/A		N/A		N/A		39,616		39,616
Total Available for Sale	$	100	$	154,630	$	5,996	$	—	$	127,263	$	287,989
Available for Sale (at amortized cost):
U.S. Treasury Obligations	$	100	$	9,989	$	—	$	—	$	N/A	$	10,089
U.S. GSEs		—		83,916		—		—		N/A		83,916
FHLB Obligations		—		61,376		5,926		—		N/A		67,302
Agency MBSs		N/A		N/A		N/A		N/A		63,919		63,919
Agency CMBSs		N/A		N/A		N/A		N/A		23,784		23,784
Agency CMOs		N/A		N/A		N/A		N/A		39,871		39,871
Total Available for Sale	$	100	$	155,281	$	5,926	$	—	$	127,574	$	288,881

The contractual final maturity distribution of the debt securities classified as held to maturity as of March 31, 2017, were 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	$	—	$	—	$	—	$	16,979	$	N/A	$	16,979
Agency MBSs		N/A		N/A		N/A		N/A		5,649		5,649
Agency CMOs		N/A		N/A		N/A		N/A		58,460		58,460
Total Held to Maturity	$	—	$	—	$	—	$	16,979	$	64,109	$	81,088
Held to Maturity (at amortized cost):
U.S. Agency Obligations	$	—	$	—	$	—	$	16,864	$	N/A	$	16,864
Agency MBSs		N/A		N/A		N/A		N/A		5,548		5,548
Agency CMOs		N/A		N/A		N/A		N/A		58,579		58,579
Total Held to Maturity	$	—	$	—	$	—	$	16,864	$	64,127	$	80,991

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


	Three Months Ended
	March 31,
(In thousands)	2017		2016
Proceeds	$	38,635	$	—
Gross gains		278		—
Gross losses		(23)		—
Net gains	$	255	$	—

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 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, 2017, were as follows:


	Less Than 12 Months					12 Months or More					Total
	Number	Fair				Number	Fair				Number	Fair
(In thousands)	of Issues	Value		Loss		of Issues	Value		Loss		of Issues	Value		Loss
Available for Sale:
U.S. GSEs	7	$	37,599	$	(531)	—	$	—	$	—	7	$	37,599	$	(531)
FHLB Obligations	7		35,858		(353)	—		—		—	7		35,858		(353)
Agency MBSs	15		45,753		(404)	—		—		—	15		45,753		(404)
Agency CMBSs	6		23,370		(414)	—		—		—	6		23,370		(414)
Agency CMOs	13		28,433		(287)	—		—		—	13		28,433		(287)
Total Available for Sale	48	$	171,013	$	(1,989)	—	$	—	$	—	48	$	171,013	$	(1,989)
Held to Maturity:
U.S. Agency Obligations	1	$	6,856	$	(6)	—	$	—	$	—	1	$	6,856	$	(6)
Agency CMOs	16		33,371		(215)	1		3,027		(115)	17		36,398		(330)
Total Held to Maturity	17	$	40,227	$	(221)	1	$	3,027	$	(115)	18	$	43,254	$	(336)


	Less Than 12 Months					12 Months or More					Total
	Number	Fair				Number	Fair				Number	Fair
(In thousands)	of Issues	Value		Loss		of Issues	Value		Loss		of Issues	Value		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 Available for Sale	54	$	194,594	$	(2,253)	2	$	2,227	$	(75)	56	$	196,821	$	(2,328)
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 Held to Maturity	14	$	33,710	$	(245)	1	$	3,162	$	(119)	15	$	36,872	$	(364)