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Note 10 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value, Option, Quantitative Disclosures [Table Text Block]

		Fair Value Measurements				Fair Value Measurements				Changes in Fair Values For Items Measured at Fair Value Pursuant to Election of the Fair Value Option
		at March 31,				at December 31,				Three Months Ended
(In thousands)		2015				2014				March 31, 2015				March 31, 2014
Mortgage-backed securities		$	4,458			$	4,678			$	(8	)		$	48
Other securities			28,170				27,915				197				325
Borrowed funds			28,244				28,771				524				25
Net gain from fair value adjustments (1)										$	713			$	398

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

		Quoted Prices in Active Markets for Identical Assets (Level 1)								Significant Other Observable Inputs (Level 2)								Significant Other Unobservable Inputs (Level 3)								Total carried at fair value on a recurring basis
		2015				2014				2015				2014				2015				2014				2015				2014
		(In thousands)
Assets:
Mortgage-backed
Securities		$	-			$	-			$	717,729			$	704,933			$	-			$	-			$	717,729			$	704,933
Other securities			-				-				268,302				245,768				21,653				22,609				289,955				268,377
Interest rate swaps			-				-				6				84				-				-				6				84
Total assets		$	-			$	-			$	986,037			$	950,785			$	21,653			$	22,609			$	1,007,690			$	973,394
Liabilities:
Borrowings		$	-			$	-			$	-			$	-			$	28,244			$	28,771			$	28,244			$	28,771
Interest rate swaps			-				-				4,118				2,649				-				-				4,118				2,649
Total liabilities		$	-			$	-			$	4,118			$	2,649			$	28,244			$	28,771			$	32,362			$	31,420

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		For the three months ended March 31, 2015
		Municipals				Trust preferred securities				Junior subordinated debentures
		(In thousands)
Beginning balance		$	15,519			$	7,090			$	28,771
Purchases			1,000				-				-
Principal repayments			(55	)			-				-
Maturities			(2,000	)			-				-
Net gain from fair value adjustment of financial assets			-				94				-
Net gain from fair value adjustment of financial liabilities			-				-				(524	)
Decrease in accrued interest payable			-				-				(3	)
Change in unrealized gains included in other comprehensive income			-				5				-
Ending balance		$	14,464			$	7,189			$	28,244
Changes in unrealized held at period end		$	-			$	5			$	-

		For the three months ended March 31, 2014
		Municipals				Trust preferred securities				Junior subordinated debentures
		(In thousands)
Beginning balance		$	9,223			$	14,935			$	29,570
Purchases			2,000				-				-
Principal repayments			(1,053	)			-				-
Sales			-				(1,871	)			-
Net gain from fair value adjustment of financial assets			-				25				-
Net loss from fair value adjustment of financial liabilities			-				-				(25	)
Decrease in accrued interest payable			-				-				(4	)
Change in unrealized gains (losses) included in other comprehensive income			-				(30	)			-
Ending balance		$	10,170			$	13,059			$	29,541
Changes in unrealized held at period end		$	-			$	(30	)		$	-

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

		Fair Value			Valuation Technique		Unobservable Input		Range (Weighted Average)
		(Dollars in thousands)
Assets:
Municipals		$	14,464		Discounted cash flows		Discount rate		0.4%	-	4.0%	(2.5%)
Trust Preferred Securities		$	7,189		Discounted cash flows		Discount rate		7.0%	-	7.1%	(7.1%)
Liabilities:
Junior subordinated debentures		$	28,244		Discounted cash flows		Discount rate			7.0%		(7.0%)

		Fair Value			Valuation Technique	Unobservable Input		Range (Weighted Average)
		(Dollars in thousands)
Assets:
Municipals		$	15,519		Discounted cash flows	Discount rate		0.2%	-	4.0%	(2.3%)
Trust Preferred Securities		$	7,090		Discounted cash flows	Discount rate		7.0%	-	7.25%	(7.2%)
Liabilities:
Junior subordinated debentures		$	28,771		Discounted cash flows	Discount rate			7.0%		(7.0%)

		Fair Value			Valuation Technique		Unobservable Input		Range (Weighted Average)
		(Dollars in thousands)
Assets:
Impaired loans		$	4,937		Income approach		Capitalization rate		7.0%	to	8.0%	(7.7%)
							Loss severity discount		0.5%	to	83.7%	(18.1%)
Impaired loans		$	5,552		Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	40.0%	(-3.3%)
							Loss severity discount		2.0%	to	97.1%	(17.1%)
Impaired loans		$	7,143		Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%	(-3.8%)
							Capitalization rate		5.6%	to	11.0%	(7.7%)
							Loss severity discount		0.9%	to	74.8%	(23.6%)
Other real estate owned		$	4,768		Income approach		Capitalization rate		9.0%	to	12.0%	(9.1%)
							Loss severity discount		0.9%	to	4.9%	(1.0%)
Other real estate owned		$	94		Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-41.5%	to	-23.7%	(-32.6%)
							Loss severity discount		46.1%	to	46.1%	(46.1%)
Other real estate owned		$	390		Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-55.0%	to	5.0%	(-12.5%)
							Capitalization rate		8.5%	to	9.2%	(8.7%)
							Loss severity discount		0.0%	to	23.9%	(6.8%)

		Fair Value			Valuation Technique		Unobservable Input		Range (Weighted Average)
		(Dollars in thousands)
Assets:
Impaired loans		$	6,981		Income approach		Capitalization rate		7.3%	to	8.5%	(7.8%)
							Loss severity discount		0.5%	to	81.7%	(21.3%)
Impaired loans		$	6,935		Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-41.5%	to	40.0%	(-2.2%)
							Loss severity discount		1.8%	to	89.4%	(20.0%)
Impaired loans		$	8,258		Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-55.0%	to	25.0%	(-6.1%)
							Capitalization rate		5.8%	to	11.0%	(8.0%)
							Loss severity discount		0.9%	to	74.4%	(30.0%)
Other real estate owned		$	4,768		Income approach		Capitalization rate		9.0%	to	12.0%	(9.1%)
							Loss severity discount		0.9%	to	4.9%	(1.0%)
Other real estate owned		$	587		Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-11.9%	to	15.0%	(-3.5%)
							Loss severity discount		0.0%	to	36.9%	(9.6%)
Other real estate owned		$	971		Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-25.0%	to	0.0%	(-8.9%)
							Capitalization rate		7.5%	to	8.0%	(7.7%)
							Loss severity discount		0.0%	to	6.2%	(3.0%)

Fair Value Measurements, Nonrecurring [Table Text Block]

		Quoted Prices in Active Markets for Identical Assets (Level 1)								Significant Other Observable Inputs (Level 2)								Significant Other Unobservable Inputs (Level 3)								Total carried at fair value on a recurring basis
		2015				2014				2015				2014				2015				2014				2015				2014
		(In thousands)
Assets:
Impaired loans		$	-			$	-			$	-			$	-			$	17,632			$	22,174			$	17,632			$	22,174
Other real estate owned			-				-				-				-				5,252				6,326				5,252				6,326
Total assets		$	-			$	-			$	-			$	-			$	22,884			$	28,500			$	22,884			$	28,500

Fair Value, by Balance Sheet Grouping [Table Text Block]

		March 31, 2015
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(in thousands)
Assets:
Cash and due from banks		$	21,104			$	21,104			$	21,104			$	-			$	-
Mortgage-backed Securities			717,729				717,729				-				717,729				-
Other securities			289,955				289,955				-				268,302				21,653
Loans			3,998,054				4,052,578				-				-				4,052,578
FHLB-NY stock			50,488				50,488				-				50,488				-
Interest rate swaps			6				6				-				6				-
OREO			5,252				5,252				-				-				5,252
Total assets		$	5,082,588			$	5,137,112			$	21,104			$	1,036,525			$	4,079,483
Liabilities:
Deposits		$	3,606,142				3,626,121			$	2,313,421			$	1,312,700			$	-
Borrowings			1,135,291				1,151,426				-				1,123,182				28,244
Interest rate swaps			4,118				4,118				-				4,118				-
Total liabilities		$	4,745,551			$	4,781,665			$	2,313,421			$	2,440,000			$	28,244

		December 31, 2014
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(in thousands)
Assets:
Cash and due from banks		$	34,265			$	34,265			$	34,265			$	-			$	-
Mortgage-backed Securities			704,933				704,933				-				704,933				-
Other securities			268,377				268,377				-				245,768				22,609
Loans			3,810,373				3,871,087				-				-				3,871,087
FHLB-NY stock			46,924				46,924				-				46,924				-
Interest rate swaps			84				84				-				84				-
OREO			6,326				6,326				-				-				6,326
Total assets		$	4,871,282			$	4,931,996			$	34,265			$	997,709			$	3,900,022
Liabilities:
Deposits		$	3,508,598			$	3,524,123			$	2,202,775			$	1,321,348			$	-
Borrowings			1,056,492				1,070,428				-				1,041,657				28,771
Interest rate swaps			2,649				2,649				-				2,649				-
Total liabilities		$	4,567,739			$	4,597,200			$	2,202,775			$	2,365,654			$	28,771

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

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Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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