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FAIR VALUE (Tables) | 12 Months Ended
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Dec. 31, 2016
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS |
Schedule of assets and liabilities measured on a recurring basis |
|  | December 31, 2016 |
|  |  |  |  | Fair Value Measurements Using: |
(In thousands) |  | Carrying Value |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 63,649 |  |  |  |  |  |  | $ | 63,649 |  |  |  |  |
State and municipal obligations |  |  | 116,165 |  |  |  |  |  |  |  | 116,165 |  |  |  |  |
U.S. GSE residential mortgage-backed securities |  |  | 158,048 |  |  |  |  |  |  |  | 158,048 |  |  |  |  |
U.S. GSE residential collateralized mortgage obligations |  |  | 367,511 |  |  |  |  |  |  |  | 367,511 |  |  |  |  |
U.S. GSE commercial mortgage-backed securities |  |  | 6,307 |  |  |  |  |  |  |  | 6,307 |  |  |  |  |
U.S. GSE commercial collateralized mortgage obligations |  |  | 55,192 |  |  |  |  |  |  |  | 55,192 |  |  |  |  |
Other asset backed securities |  |  | 22,553 |  |  |  |  |  |  |  | 22,553 |  |  |  |  |
Corporate bonds |  |  | 30,297 |  |  |  |  |  |  |  | 30,297 |  |  |  |  |
Total available for sale securities |  | $ | 819,722 |  |  |  |  |  |  | $ | 819,722 |  |  |  |  |
Derivatives |  | $ | 2,510 |  |  |  |  |  |  | $ | 2,510 |  |  |  |  |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | 1,670 |  |  |  |  |  |  | $ | 1,670 |  |  |  |  |
|  | December 31, 2015 |
|  |  |  |  | Fair Value Measurements Using: |
(In thousands) |  | Carrying Value |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. GSE securities |  | $ | 62,674 |  |  |  |  |  |  | $ | 62,674 |  |  |  |  |
State and municipal obligations |  |  | 87,935 |  |  |  |  |  |  |  | 87,935 |  |  |  |  |
U.S. GSE residential mortgage-backed securities |  |  | 200,264 |  |  |  |  |  |  |  | 200,264 |  |  |  |  |
U.S. GSE residential collateralized mortgage obligations |  |  | 317,878 |  |  |  |  |  |  |  | 317,878 |  |  |  |  |
U.S. GSE commercial mortgage-backed securities |  |  | 12,418 |  |  |  |  |  |  |  | 12,418 |  |  |  |  |
U.S. GSE commercial collateralized mortgage obligations |  |  | 64,198 |  |  |  |  |  |  |  | 64,198 |  |  |  |  |
Other asset backed securities |  |  | 22,371 |  |  |  |  |  |  |  | 22,371 |  |  |  |  |
Corporate bonds |  |  | 32,465 |  |  |  |  |  |  |  | 32,465 |  |  |  |  |
Total available for sale securities |  | $ | 800,203 |  |  |  |  |  |  | $ | 800,203 |  |  |  |  |
Derivatives |  | $ | 779 |  |  |  |  |  |  | $ | 779 |  |  |  |  |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | 2,073 |  |  |  |  |  |  | $ | 2,073 |  |  |  |  |
Schedule of assets measured at fair value on a non-recurring basis |
|  | December 31, 2016 |
|  |  |  |  | Fair Value Measurements Using: |
(In thousands) |  | Carrying Value |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans |  | $ | 64 |  |  |  |  |  |  |  |  |  |  | $ | 64 |
|  | December 31, 2015 |
|  |  |  |  | Fair Value Measurements Using: |
(In thousands) |  | Carrying Value |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Impaired loans |  | $ | 483 |  |  |  |  |  |  |  |  |  |  | $ | 483 |
Other real estate owned |  |  | 250 |  |  |  |  |  |  |  |  |  |  |  | 250 |
Schedule of estimated fair values and recorded carrying values of financial instruments |
|  | December 31, 2016 |
|  |  |  |  | Fair Value Measurement Using: |  |  |  |
(In thousands) |  | Carrying Amount |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 102,280 |  |  | $ | 102,280 |  |  | $ | — |  |  | $ | — |  |  | $ | 102,280 |
Interest bearing deposits with banks |  |  | 11,558 |  |  |  | 11,558 |  |  |  | — |  |  |  | — |  |  |  | 11,558 |
Securities available for sale |  |  | 819,722 |  |  |  | — |  |  |  | 819,722 |  |  |  | — |  |  |  | 819,722 |
Securities restricted |  |  | 34,743 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Securities held to maturity |  |  | 223,237 |  |  |  | — |  |  |  | 222,878 |  |  |  | — |  |  |  | 222,878 |
Loans, net |  |  | 2,574,536 |  |  |  | — |  |  |  | — |  |  |  | 2,542,395 |  |  |  | 2,542,395 |
Derivatives |  |  | 2,510 |  |  |  | — |  |  |  | 2,510 |  |  |  | — |  |  |  | 2,510 |
Accrued interest receivable |  |  | 10,233 |  |  |  | — |  |  |  | 3,480 |  |  |  | 6,753 |  |  |  | 10,233 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 206,732 |  |  |  | — |  |  |  | 206,026 |  |  |  | — |  |  |  | 206,026 |
Demand and other deposits |  |  | 2,719,277 |  |  |  | 2,719,277 |  |  |  | — |  |  |  | — |  |  |  | 2,719,277 |
Federal funds purchased |  |  | 100,000 |  |  |  | 100,000 |  |  |  | — |  |  |  | — |  |  |  | 100,000 |
Federal Home Loan Bank advances |  |  | 496,684 |  |  |  | 175,000 |  |  |  | 321,249 |  |  |  | — |  |  |  | 496,249 |
Repurchase agreements |  |  | 674 |  |  |  | — |  |  |  | 674 |  |  |  | — |  |  |  | 674 |
Subordinated debentures |  |  | 78,502 |  |  |  | — |  |  |  | — |  |  |  | 78,303 |  |  |  | 78,303 |
Junior subordinated debentures |  |  | 15,244 |  |  |  | — |  |  |  | — |  |  |  | 15,258 |  |  |  | 15,258 |
Derivatives |  |  | 1,670 |  |  |  | — |  |  |  | 1,670 |  |  |  | — |  |  |  | 1,670 |
Accrued interest payable |  |  | 1,849 |  |  |  | 87 |  |  |  | 316 |  |  |  | 1,446 |  |  |  | 1,849 |
|  | December 31, 2015 |
|  |  |  |  | Fair Value Measurement Using: |  |  |  |
(In thousands) |  | Carrying Amount |  |  | Quoted Prices In Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Total Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 79,750 |  |  | $ | 79,750 |  |  | $ | — |  |  | $ | — |  |  | $ | 79,750 |
Interest bearing deposits with banks |  |  | 24,408 |  |  |  | 24,408 |  |  |  | — |  |  |  | — |  |  |  | 24,408 |
Securities available for sale |  |  | 800,203 |  |  |  | — |  |  |  | 800,203 |  |  |  | — |  |  |  | 800,203 |
Securities restricted |  |  | 24,788 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Securities held to maturity |  |  | 208,351 |  |  |  | — |  |  |  | 210,003 |  |  |  | — |  |  |  | 210,003 |
Loans, net |  |  | 2,390,030 |  |  |  | — |  |  |  | — |  |  |  | 2,379,171 |  |  |  | 2,379,171 |
Derivatives |  |  | 779 |  |  |  | — |  |  |  | 779 |  |  |  | — |  |  |  | 779 |
Accrued interest receivable |  |  | 9,270 |  |  |  | — |  |  |  | 3,228 |  |  |  | 6,042 |  |  |  | 9,270 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 292,855 |  |  |  | — |  |  |  | 293,368 |  |  |  | — |  |  |  | 293,368 |
Demand and other deposits |  |  | 2,550,770 |  |  |  | 2,550,770 |  |  |  | — |  |  |  | — |  |  |  | 2,550,770 |
Federal funds purchased |  |  | 120,000 |  |  |  | 120,000 |  |  |  | — |  |  |  | — |  |  |  | 120,000 |
Federal Home Loan Bank advances |  |  | 297,507 |  |  |  | — |  |  |  | 298,015 |  |  |  | — |  |  |  | 298,015 |
Repurchase agreements |  |  | 50,891 |  |  |  | — |  |  |  | 51,480 |  |  |  | — |  |  |  | 51,480 |
Subordinated debentures |  |  | 78,363 |  |  |  | — |  |  |  | — |  |  |  | 78,830 |  |  |  | 78,830 |
Junior subordinated debentures |  |  | 15,878 |  |  |  | — |  |  |  | — |  |  |  | 16,566 |  |  |  | 16,566 |
Derivatives |  |  | 2,073 |  |  |  | — |  |  |  | 2,073 |  |  |  | — |  |  |  | 2,073 |
Accrued interest payable |  |  | 1,644 |  |  |  | 93 |  |  |  | 329 |  |  |  | 1,222 |  |  |  | 1,644 |

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