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FAIR VALUE (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of assets measured at fair value on a recurring basis | The following table summarizes, for the periods indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option:
|  |  |  |  |  | Fair Value Measurements Using |
|  |  |  |  |  | Quoted |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Prices In |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Active |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Markets |  |  | Significant |  |  |  |  |
|  |  |  |  |  | For |  |  | Other |  |  | Significant |
|  |  |  |  |  | Identical |  |  | Observable |  |  | Unobservable |
|  |  |  |  |  | Assets |  |  | Inputs |  |  | Inputs |
(In thousands) |  | December 31, 2018 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored agencies |  | $ | 102,013 |  |  | $ | — |  |  | $ | 102,013 |  |  | $ | — |
Mortgage-backed securities-residential |  |  | 251,362 |  |  |  | — |  |  |  | 251,362 |  |  |  | — |
SBA pool securities |  |  | 3,839 |  |  |  | — |  |  |  | 3,839 |  |  |  | — |
State and political subdivisions |  |  | 17,610 |  |  |  | — |  |  |  | 17,610 |  |  |  | — |
Corporate bond |  |  | 3,112 |  |  |  | — |  |  |  | 3,112 |  |  |  | — |
CRA investment fund |  |  | 4,719 |  |  |  | 4,719 |  |  |  | — |  |  |  | — |
Loans held for sale, at fair value |  |  | 1,576 |  |  |  | — |  |  |  | 1,576 |  |  |  | — |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  | 1,657 |  |  |  | — |  |  |  | 1,657 |  |  |  | — |
Loan level swaps |  |  | 9,689 |  |  |  | — |  |  |  | 9,689 |  |  |  | — |
Total |  | $ | 395,577 |  |  | $ | 4,719 |  |  | $ | 390,858 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  | $ | (849 | ) |  | $ | — |  |  | $ | (849 | ) |  | $ | — |
Loan level swaps |  |  | (9,689 | ) |  |  | — |  |  |  | (9,689 | ) |  |  | — |
Total |  | $ | (10,538 | ) |  | $ | — |  |  | $ | (10,538 | ) |  | $ | — |
(In thousands) |  | December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored agencies |  | $ | 43,701 |  |  | $ | — |  |  | $ | 43,701 |  |  | $ | — |
Mortgage-backed securities-residential |  |  | 243,116 |  |  |  | — |  |  |  | 243,116 |  |  |  | — |
SBA pool securities |  |  | 5,205 |  |  |  | — |  |  |  | 5,205 |  |  |  | — |
State and political subdivisions |  |  | 24,868 |  |  |  | — |  |  |  | 24,868 |  |  |  | — |
Corporate bond |  |  | 3,082 |  |  |  | — |  |  |  | 3,082 |  |  |  | — |
Single-issuer trust preferred security |  |  | 2,837 |  |  |  | — |  |  |  | 2,837 |  |  |  | — |
CRA investment fund |  |  | 4,824 |  |  |  | 4,824 |  |  |  | — |  |  |  | — |
Loans held for sale, at fair value |  |  | 984 |  |  |  | — |  |  |  | 984 |  |  |  | — |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  |  | 1,394 |  |  |  | — |  |  |  | 1,394 |  |  |  | — |
Loan level swaps |  |  | 3,131 |  |  |  | — |  |  |  | 3,131 |  |  |  | — |
Total |  | $ | 333,142 |  |  | $ | 4,824 |  |  | $ | 328,318 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Loan level swaps |  |  | (3,131 | ) |  |  | — |  |  |  | (3,131 | ) |  |  | — |
Total |  | $ | (3,131 | ) |  | $ | — |  |  | $ | (3,131 | ) |  | $ | — |
Schedule of residential loans held for sale | The following tables present residential loans held for sale, at fair value at the dates indicated:
|  | December 31, 2018 |  |  | December 31, 2017 |
Residential loans contractual balance |  | $ | 1,552 |  |  | $ | 972 |
Fair value adjustment |  |  | 24 |  |  |  | 12 |
Total fair value of residential loans held for sale |  | $ | 1,576 |  |  | $ | 984 |
Schedule of carrying amounts and estimated fair values of financial instruments | The carrying amounts and estimated fair values of financial instruments at December 31, 2018 are as follows:
|  |  |  |  |  | Fair Value Measurements at December 31, 2018 Using |
(In thousands) |  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 160,773 |  |  | $ | 160,773 |  |  | $ | — |  |  | $ | — |  |  | $ | 160,773 |
Securities available for sale |  |  | 377,936 |  |  |  | — |  |  |  | 377,936 |  |  |  | — |  |  |  | 377,936 |
CRA investment fund |  |  | 4,719 |  |  |  | 4,719 |  |  |  | — |  |  |  | — |  |  |  | 4,719 |
FHLB and FRB stock |  |  | 18,533 |  |  |  | — |  |  |  | — |  |  |  | — |  |  | N/A |
Loans held for sale, at fair value |  |  | 1,576 |  |  |  | — |  |  |  | 1,576 |  |  |  | — |  |  |  | 1,576 |
Loans held for sale, at lower of cost or fair value |  |  | 3,542 |  |  |  | — |  |  |  | 3,654 |  |  |  | — |  |  |  | 3,654 |
Loans, net of allowance for loan losses |  |  | 3,889,427 |  |  |  | — |  |  |  | — |  |  |  | 3,852,004 |  |  |  | 3,852,004 |
Accrued interest receivable |  |  | 10,814 |  |  |  | — |  |  |  | 1,875 |  |  |  | 8,939 |  |  |  | 10,814 |
Cash flow hedges |  |  | 1,657 |  |  |  | — |  |  |  | 1,657 |  |  |  | — |  |  |  | 1,657 |
Loan level swaps |  |  | 9,689 |  |  |  | — |  |  |  | 9,689 |  |  |  | — |  |  |  | 9,689 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 3,895,340 |  |  | $ | 3,249,274 |  |  | $ | 640,997 |  |  | $ | — |  |  | $ | 3,890,271 |
Federal Home Loan Bank advances |  |  | 108,000 |  |  |  | — |  |  |  | 108,950 |  |  |  | — |  |  |  | 108,950 |
Subordinated debt |  |  | 83,193 |  |  |  | — |  |  |  | — |  |  |  | 82,207 |  |  |  | 82,207 |
Accrued interest payable |  |  | 2,868 |  |  |  | 331 |  |  |  | 2,482 |  |  |  | 55 |  |  |  | 2,868 |
Cash flow hedges |  |  | 849 |  |  |  | — |  |  |  | 849 |  |  |  | — |  |  |  | 849 |
Loan level swaps |  |  | 9,689 |  |  |  | — |  |  |  | 9,689 |  |  |  | — |  |  |  | 9,689 |
The carrying amounts and estimated fair values of financial instruments at December 31, 2017 are as follows:
|  |  |  |  |  | Fair Value Measurements at December 31, 2017 Using |
(In thousands) |  | Carrying Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,447 |  |  | $ | 113,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 113,447 |
Securities available for sale |  |  | 327,633 |  |  |  | 4,824 |  |  |  | 322,809 |  |  |  | — |  |  |  | 327,633 |
FHLB and FRB stock |  |  | 13,378 |  |  |  | — |  |  |  | — |  |  |  | — |  |  | N/A |
Loans held for sale, at fair value |  |  | 984 |  |  |  | — |  |  |  | 984 |  |  |  | — |  |  |  | 984 |
Loans held for sale, at lower of cost or fair value |  |  | 187 |  |  |  | — |  |  |  | 206 |  |  |  | — |  |  |  | 206 |
Loans, net of allowance for loan losses |  |  | 3,668,000 |  |  |  | — |  |  |  | — |  |  |  | 3,649,132 |  |  |  | 3,649,132 |
Accrued interest receivable |  |  | 9,452 |  |  |  | — |  |  |  | 1,041 |  |  |  | 8,411 |  |  |  | 9,452 |
Cash flow hedges |  |  | 1,394 |  |  |  | — |  |  |  | 1,394 |  |  |  | — |  |  |  | 1,394 |
Loan level swaps |  |  | 3,131 |  |  |  | — |  |  |  | 3,131 |  |  |  | — |  |  |  | 3,131 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 3,698,354 |  |  | $ | 3,082,728 |  |  | $ | 612,591 |  |  | $ | — |  |  | $ | 3,695,319 |
Federal Home Loan Bank advances |  |  | 37,898 |  |  |  | — |  |  |  | 37,907 |  |  |  | — |  |  |  | 37,907 |
Subordinated debt |  |  | 83,024 |  |  |  | — |  |  |  | — |  |  |  | 84,150 |  |  |  | 84,150 |
Accrued interest payable |  |  | 1,756 |  |  |  | 192 |  |  |  | 1,495 |  |  |  | 69 |  |  |  | 1,756 |
Loan level swaps |  |  | 3,131 |  |  |  | — |  |  |  | 3,131 |  |  |  | — |  |  |  | 3,131 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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