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Note 11 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value, Measurements, Nonrecurring [Member]

Notes Tables

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

		September 30, 2016
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Impaired loans		$	2,472			Income approach		Capitalization rate		6.0%	to	7.1%			7.1	%
								Loss severity discount		8.7%	to	15.0%			14.0	%
Impaired loans		$	4,426			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-40.0%	to	16.2%			-3.1	%
								Loss severity discount			15.0%				15.0	%
Impaired loans		$	5,246			Blended income and sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%			-2.4	%
								Capitalization rate		5.3%	to	11.0%			7.1	%
								Loss severity discount		6.9%	to	15.0%			13.8	%
Other real estate owned		$	2,839			Sales approach		Adjustment to sales comparison value to reconcile differences between comparable sales		-5.0%	to	25.0%			2.8	%

		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				Fair Value				Changes in Fair Values For Items Measured at Fair Value
		Measurements				Measurements				Pursuant to Election of the Fair Value Option
		at September 30,				at December 31,				Three Months Ended								Nine Months Ended
(Dollars in thousands)		2016				2015				September 30, 2016				September 30, 2015				September 30, 2016				September 30, 2015
Mortgage-backed securities		$	2,166			$	2,527			$	(6	)		$	-			$	(4	)		$	(36	)
Other securities			28,551				28,205				(30	)			59				156				148
Borrowed funds			27,791				29,018				(296	)			987				1,250				282
Net gain (loss) from fair value adjustments (1) (2)										$	(332	)		$	1,046			$	1,402			$	394

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		$	-			$	-			$	545,067			$	668,740			$	-			$	-			$	545,067			$	668,740
Other securities			-				-				358,621				317,445				7,191				7,212				365,812				324,657
Interest rate swaps			-				-				-				48				-				-				-				48
Total assets		$	-			$	-			$	903,688			$	986,233			$	7,191			$	7,212			$	910,879			$	993,445
Liabilities:
Borrowings		$	-			$	-			$	-			$	-			$	27,791			$	29,018			$	27,791			$	29,018
Interest rate swaps			-				-				15,426				4,314				-				-				15,426				4,314
Total liabilities		$	-			$	-			$	15,426			$	4,314			$	27,791			$	29,018			$	43,217			$	33,332

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

		For the three months ended   September 30, 2016
		Trust preferred  securities				Junior subordinated  debentures
		(In thousands)
Beginning balance		$	7,167			$	27,485
Net gain from fair value adjustment of financial assets (1)			23				-
Net loss from fair value adjustment of financial liabilities (1)			-				296
Increase in accrued interest payable			-				10
Change in unrealized gains (losses) included in other comprehensive income			1				-
Ending balance		$	7,191			$	27,791
Changes in unrealized gains (losses) held at period end		$	1			$	-

		For the three months ended   September 30, 2015
		Municipals				Trust preferred  securities				Junior subordinated  debentures
		(In thousands)
Beginning balance		$	7,899			$	7,226			$	29,476
Transfer to held-to-maturity			-				-				-
Principal repayments			(7,899	)			-				-
Maturities			-				-				-
Net loss from fair value adjustment of financial assets included in earnings (1)			-				(44	)			-
Net gain from fair value adjustment of financial liabilities included in earnings (1)			-				-				(988	)
Increase in accrued interest payable			-				-				3
Change in unrealized gains (losses)  included in other comprehensive income			-				(1	)			-
Ending balance		$	-			$	7,181			$	28,491
Changes in unrealized gains (losses) held at period end		$	-			$	(1	)		$	-

		For the nine months ended   September 30, 2016
		Trust preferred  securities				Junior subordinated  debentures
Beginning balance		$	7,212			$	29,018
Net loss from fair value adjustment of financial assets included in earnings (1)			(23	)			-
Net gain from fair value adjustment of financial liabilities included in earnings (1)			-				(1,250	)
Increase in accrued interest payable			1				23
Change in unrealized gains (losses) included in other comprehensive income			1				-
Ending balance		$	7,191			$	27,791
Changes in unrealized gains (losses) held at period end		$	1			$	-

		For the nine months ended   September 30, 2015
		Municipals				Trust preferred  securities				Junior subordinated  debentures
		(In thousands)
Beginning balance		$	15,519			$	7,090			$	28,771
Transfer to held-to-maturity			(4,510	)			-				-
Purchases			1,000				-				-
Principal repayments			(8,009	)			-				-
Maturities			(4,000	)			-				-
Net gain from fair value adjustment of financial assets included in earnings (1)			-				86				-
Net gain from fair value adjustment of financial liabilities included in earnings (1)			-				-				(283	)
Increase in accrued interest payable			-				-				3
Change in unrealized gains (losses) included in other comprehensive income			-				5				-
Ending balance		$	-			$	7,181			$	28,491
Changes in unrealized gains (losses) held at period end		$	-			$	5			$	-

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

		September 30, 2016
		Fair Value				Valuation Technique		Unobservable Input		Range				Weighted Average
		(Dollars in thousands)
Assets:
Trust preferred securities		$	7,191			Discounted cash flows		Discount rate		7.0%	-	7.05%			7.0	%
Liabilities:
Junior subordinated debentures		$	27,791			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		$	-			$	-			$	-			$	-			$	12,144			$	15,360			$	12,144			$	15,360
Other real estate owned			-				-				-				-				2,839				4,932				2,839				4,932
Total assets		$	-			$	-			$	-			$	-			$	14,983			$	20,292			$	14,983			$	20,292

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

		September 30, 2016
		Carrying Amount				Value				Level 1				Level 2				Level 3
		(In thousands)
Assets:
Cash and due from banks		$	47,880			$	47,880			$	47,880			$	-			$	-
Securities held-to-maturity
Other securities			33,274				33,410				-				-				33,410
Securities available for sale
Mortgage-backed securities			545,067				545,067				-				545,067				-
Other securities			365,812				365,812				-				358,621				7,191
Loans			4,741,277				4,780,500				-				-				4,780,500
FHLB-NY stock			65,185				65,185				-				65,185				-
Total assets		$	5,798,495			$	5,837,854			$	47,880			$	968,873			$	4,821,101
Liabilities:
Deposits		$	4,041,781			$	4,058,678			$	2,657,230			$	1,401,448			$	-
Borrowings			1,360,515				1,370,749				-				1,342,958				27,791
Interest rate swaps			15,426				15,426				-				15,426				-
Total liabilities		$	5,417,722			$	5,444,853			$	2,657,230			$	2,759,832			$	27,791

		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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