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Note 11 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value, Measurements, Nonrecurring [Member]

Notes Tables

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

		March 31, 2016
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Impaired loans		$	3,465			Income approach		Capitalization rate		7.3%	to	8.0%			7.6	%
								Loss severity discount		14.0%	to	15.0%			14.9	%
Impaired loans		$	4,985			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	20.0%			-3.3	%
								Loss severity discount			15.0%				15.0	%
Impaired loans		$	6,725			Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%			-3.3	%
								Capitalization rate		5.3%	to	9.0%			7.1	%
								Loss severity discount		5.2%	to	15.0%			13.8	%
Other real estate owned		$	3,750			Income approach		Capitalization rate			9.0%				9.0	%
Other real estate owned		$	852			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-5.0%	to	25.0%			10.9	%

		December 31, 2015
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Impaired loans		$	3,878			Income approach		Capitalization rate		7.3%	to	8.5%			7.7	%
								Loss severity discount			15.0%				15.0	%
Impaired loans		$	5,555			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	40.0%			-2.2	%
								Loss severity discount			15.0%				15.0	%
Impaired loans		$	5,927			Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%			-2.2	%
								Capitalization rate		5.3%	to	9.0%			7.0	%
								Loss severity discount		5.2%	to	15.0%			13.7	%
Other real estate owned		$	3,750			Income approach		Capitalization rate			9.0%				9.0	%
Other real estate owned		$	366			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-5.0%	to	25.0%			12.0	%
Other real estate owned		$	816			Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-10.0%	to	15.0%			2.5	%
								Capitalization rate			8.6%				8.6	%

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)		2016				2015				March 31, 2016				March 31, 2015
Mortgage-backed securities		$	2,403			$	2,527			$	5			$	(8	)
Other securities			28,361				28,205				96				197
Borrowed funds			27,977				29,018				1,054				524
Net gain from fair value adjustments (1)										$	1,155			$	713

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
		2016				2015				2016				2015				2016				2015				2016				2015
		(In thousands)
Assets:
Mortgage-backed Securities		$	-			$	-			$	668,412			$	668,740			$	-			$	-			$	668,412			$	668,740
Other securities			-				-				365,701				317,445				7,150				7,212				372,851				324,657
Interest rate swaps			-				-				-				48				-				-				-				48
Total assets		$	-			$	-			$	1,034,113			$	986,233			$	7,150			$	7,212			$	1,041,263			$	993,445
Liabilities:
Borrowings		$	-			$	-			$	-			$	-			$	27,977			$	29,018			$	27,977			$	29,018
Interest rate swaps			-				-				11,466				4,314				-				-				11,466				4,314
Total liabilities		$	-			$	-			$	11,466			$	4,314			$	27,977			$	29,018			$	39,443			$	33,332

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

		For the three months ended   March 31, 2016
		Trust preferred  securities				Junior subordinated  debentures
		(In thousands)
Beginning balance		$	7,212			$	29,018
Net loss from fair value adjustment of financial assets			(60	)			-
Net gain from fair value adjustment of financial liabilities			-				(1,056	)
Increase in accrued interest payable			-				15
Change in unrealized gains included in other comprehensive income			(2	)			-
Ending balance		$	7,150			$	27,977
Changes in unrealized gain (loss) held at period end		$	(2	)		$	-

		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 gain (loss) held at period end		$	-			$	5			$	-

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

		March 31, 2016
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Trust preferred securities		$	7,150			Discounted cash flows		Discount rate		7.0%	-	7.12%			7.1	%
Liabilities:
Junior subordinated debentures		$	27,977			Discounted cash flows		Discount rate			7.0%				7.0	%

		December 31, 2015
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Trust preferred securities		$	7,212			Discounted cash flows		Discount rate		7.0%	-	7.07%			7.1	%
Liabilities:
Junior subordinated debentures		$	29,018			Discounted cash flows		Discount rate			7.0%				7.0	%

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
		2016				2015				2016				2015				2016				2015				2016				2015
		(In thousands)
Assets:
Impaired loans		$	-			$	-			$	-			$	-			$	15,175			$	15,360			$	15,175			$	15,360
Other real estate owned			-				-				-				-				4,602				4,932				4,602				4,932
Total assets		$	-			$	-			$	-			$	-			$	19,777			$	20,292			$	19,777			$	20,292

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

		March 31, 2016
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(In thousands)
Assets:
Cash and due from banks		$	51,417			$	51,417			$	51,417			$	-			$	-
Securities held-to-maturity
Other securities			7,885				7,885				-				-				7,885
Securities available for sale
Mortgage-backed securities			668,412				668,412				-				668,412				-
Other securities			372,851				372,851				-				365,701				7,150
Loans			4,458,541				4,501,190				-				-				4,501,190
FHLB-NY stock			53,368				53,368				-				53,368				-
Total assets		$	5,612,474			$	5,655,123			$	51,417			$	1,087,481			$	4,516,225
Liabilities:
Deposits		$	4,063,887			$	4,082,649			$	2,701,825			$	1,380,824			$	-
Borrowings			1,190,789				1,206,237				-				1,178,260				27,977
Interest rate swaps			11,466				11,466				-				11,466				-
Total liabilities		$	5,266,142			$	5,300,352			$	2,701,825			$	2,570,550			$	27,977

		December 31, 2015
		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
		(In thousands)
Assets:
Cash and due from banks		$	42,363			$	42,363			$	42,363			$	-			$	-
Securities held-to-maturity
Other securities			6,180				6,180				-				-				6,180
Securities available for sale
Mortgage-backed securities			668,740				668,740				-				668,740				-
Other securities			324,657				324,657				-				317,445				7,212
Loans			4,387,979				4,434,079				-				-				4,434,079
FHLB-NY stock			56,066				56,066				-				56,066				-
Interest rate swaps			48				48				-				48				-
Total assets		$	5,486,033			$	5,532,133			$	42,363			$	1,042,299			$	4,447,471
Liabilities:
Deposits		$	3,892,547			$	3,902,888			$	2,489,245			$	1,413,643			$	-
Borrowings			1,271,676				1,279,946				-				1,250,928				29,018
Interest rate swaps			4,314				4,314				-				4,314				-
Total liabilities		$	5,168,537			$	5,187,148			$	2,489,245			$	2,668,885			$	29,018

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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 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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