Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Investment Securities

The amortized cost and fair value of investment securities are as follows:

	Amortized Cost		Gross Unrealized					Fair Value
			Gains		Losses
	(In thousands)
December 31, 2015
Available for sale:
U.S. government sponsored and federal agency obligations	$	3,130	$	6	$	—		$	3,136
Mortgage backed securities	342,211		350		(4,177		)	338,384
Other securities	1		2		—			3
	$	345,342	$	358	$	(4,177	)	$	341,523
Held to maturity:
Corporate bonds	$	15,492	$	—	$	(70	)	$	15,422
December 31, 2014
Available for sale:
U.S. government sponsored and federal agency obligations	$	3,245	$	16	$	—		$	3,261
Mortgage backed securities	293,755		822		(3,242		)	291,335
Other securities	1		2		—			3
	$	297,001	$	840	$	(3,242	)	$	294,599

Fair Value and Gross Unrealized Losses

The table below presents the fair value and gross unrealized losses of securities in a loss position, aggregated by investment category and length of time that individual holdings have been in a continuous unrealized loss position at December 31, 2015 and 2014:

	Unrealized Loss Position
	Less than 12 months					12 months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
	(In thousands)
December 31, 2015
Available for sale:
Mortgage backed securities	$	223,464	$	(2,138	)	$	74,678	$	(2,039	)	$	298,142	$	(4,177	)
Held to maturity:
Corporate bonds	$	15,422	$	(70	)	$	—	$	—		$	15,422	$	(70	)
December 31, 2014
Available for sale:
Mortgage backed securities	$	81,135	$	(339	)	$	106,433	$	(2,903	)	$	187,568	$	(3,242	)

Roll Forward of Other-Than-Temporary Impairment Related to Credit Losses

The following table is a roll forward of the amount of OTTI related to credit losses that have been recognized in earnings for which a portion of impairment was deemed temporary and recognized in other comprehensive income (loss) for the periods presented:

	Year Ended December 31, 2014			Nine Months Ended December 31, 2013
	(In thousands)
Beginning balance of unrealized OTTI related to credit losses	$	801		$	1,002
Additional unrealized OTTI related to credit losses for which OTTI was previously recognized	64			23
Additional debit related OTTI previously recognized for OTTI recovery during the period	4			5
Credit related OTTI previously recognized for securities sold during the period	(644		)	—
Decrease for realized amount of credit losses for which unrealized credit related OTTI was previously recognized	(225		)	(229		)
Ending balance of unrealized OTTI related to credit losses	$	—		$	801

Sales of Investment Securities Available for Sale

The cost of investment securities sold is determined using the specific identification method. Sales of investment securities available for sale are summarized below:

	Year Ended December 31, 2015			Year Ended December 31, 2014			Nine Months Ended December 31, 2013
	(In thousands)
Proceeds from sales	$	14,647		$	17,557		$	356
Gross gains	$	65		$	825		$	292
Gross losses	(2		)	(79		)	—
Net gain on sales	$	63		$	746		$	292

Fair Value of Investment Securities Available for Sale by Contractual Maturity

The fair values of investment securities by contractual maturity at December 31, 2015 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Within 1 Year	$	3	$	3	$	—	$	—
After 1 Year through 5 Years	3,254		3,263		—		—
After 5 Years through 10 Years	9,736		9,675		15,492		15,422
After Ten Years	332,349		328,582		—		—
Total	$	345,342	$	341,523	$	15,492	$	15,422