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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2017
INCOME TAXES  
Schedule of components of income tax expense
    Year Ended December 31,  
(In thousands)   2017     2016     2015  
Current:                        
Federal   $ 8,762     $ 14,730     $ 8,248  
State     937       780       1,230  
Total current     9,699       15,510       9,478  
Deferred:                        
Federal     10,251       2,388       1,457  
State     (1,004 )     897       (157 )
Total deferred     9,247       3,285       1,300  
Total income tax expense   $ 18,946     $ 18,795     $ 10,778  
Schedule of reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision
    Year Ended December 31,  
    2017     2016     2015  
(Dollars in thousands)   Amount     Percentage
of Pre-tax
Earnings		     Amount     Percentage
of Pre-tax
Earnings		     Amount     Percentage
of Pre-tax
Earnings		  
Federal income tax expense computed by applying the statutory rate to income before income taxes   $ 13,820       35 %   $ 19,000       35 %   $ 11,161       35 %
Tax exempt income     (1,808 )     (5 )     (1,661 )     (3 )     (1,356 )     (4 )
State taxes, net of federal income tax benefit     725       2       1,090       2       1,087       3  
Deferred tax asset remeasurement (1)     7,572       19       -       -       -       -  
Other     (1,363 )     (3 )     366       1       (114 )     -  
Income tax expense   $ 18,946       48 %   $ 18,795       35 %   $ 10,778       34 %

 

(1) 2017 amount includes a charge to write-down deferred tax assets due to the enactment of the Tax Act of $7.6 million.

 
Schedule of components of deferred tax assets and liabilities
    December 31,  
(In thousands)   2017     2016  
Deferred tax assets:                
Allowance for loan losses and off-balance sheet credit exposure   $ 9,906     $ 11,401  
Net unrealized losses on securities     4,650       6,019  
Compensation and related benefit obligations     2,508       2,226  
Purchase accounting fair value adjustments     7,576       14,376  
Net change in pension and other post-retirement benefits plans     2,279       3,249  
Net operating loss carryforward     1,997       2,470  
Other     1,119       756  
Total deferred tax assets     30,035       40,497  
                 
Deferred tax liabilities:                
Pension and SERP expense     (3,915 )     (4,715 )
Depreciation     (808 )     (1,537 )
REIT undistributed net income     (2,146 )     (86 )
Net deferred loan costs and fees     (1,406 )     (1,844 )
Net gain on cash flow hedges     (792 )     (341 )
State and local taxes     (1,255 )     (1,862 )
Other     (221 )     (179 )
Total deferred tax liabilities     (10,543 )     (10,564 )
Net deferred tax asset   $ 19,492     $ 29,933