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Fair Value Disclosures (Tables) | 6 Months Ended
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Jun. 30, 2016
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring Basis | Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:
|  | Fair Value Measurements Using |  |
June 30, 2016 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
Municipal obligations |  | $ | — |  |  | $ | 6,170 |  |  | $ | — |  |  | $ | 6,170 |
Asset backed securities |  | — |  |  | 1,173 |  |  | — |  |  | 1,173 |
U.S. Government agency obligations - government-sponsored enterprises |  | — |  |  | 7,341 |  |  | — |  |  | 7,341 |
Collateralized mortgage obligations - government issued |  | — |  |  | 35,768 |  |  | — |  |  | 35,768 |
Collateralized mortgage obligations - government-sponsored enterprises |  | — |  |  | 87,240 |  |  | — |  |  | 87,240 |
Interest rate swaps |  | — |  |  | 1,182 |  |  | — |  |  | 1,182 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 1,182 |  |  | $ | — |  |  | $ | 1,182 |
|  | Fair Value Measurements Using |  |
December 31, 2015 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
Municipal obligations |  | $ | — |  |  | $ | 4,283 |  |  | $ | — |  |  | $ | 4,283 |
Asset backed securities |  | — |  |  | 1,269 |  |  | — |  |  | 1,269 |
U.S. Government agency obligations - government-sponsored enterprises |  | — |  |  | 8,017 |  |  | — |  |  | 8,017 |
Collateralized mortgage obligations - government issued |  | — |  |  | 44,543 |  |  | — |  |  | 44,543 |
Collateralized mortgage obligations - government-sponsored enterprises |  | — |  |  | 82,436 |  |  | — |  |  | 82,436 |
Interest rate swaps |  | — |  |  | 552 |  |  | — |  |  | 552 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 552 |  |  | $ | — |  |  | $ | 552 |
Fair Value Measurements, Nonrecurring Basis | Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:
|  | Balance at |  | Fair Value Measurements Using |  | Total Gains (Losses)
|  | June 30, 2016 |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (In Thousands)
Impaired loans |  | $ | 13,697 |  |  | $ | — |  |  | $ | 10,782 |  |  | $ | 2,915 |  |  | $ | — |
Foreclosed properties |  | 1,548 |  |  | — |  |  | 1,548 |  |  | — |  |  | (23 | )
Loan servicing rights |  | 2,025 |  |  | — |  |  | — |  |  | 2,025 |  |  | — |
|  | Balance at |  | Fair Value Measurements Using |  | Total Gains (Losses)
|  | December 31, 2015 |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (In Thousands)
Impaired loans |  | $ | 17,763 |  |  | $ | — |  |  | $ | 11,518 |  |  | $ | 6,245 |  |  | $ | — |
Foreclosed properties |  | 1,677 |  |  | — |  |  | 1,677 |  |  | — |  |  | (36 | )
Loan servicing rights |  | 1,563 |  |  | — |  |  | — |  |  | 1,563 |  |  | — |
Foreclosed Properties | The activity of the Corporation’s foreclosed properties is summarized as follows:
| As of and for the Six Months Ended June 30, 2016 |  | As of and for Year Ended December 31, 2015
| (In Thousands)
Foreclosed properties at the beginning of the period | $ | 1,677 |  |  | $ | 1,693 |
Loans transferred to foreclosed properties, at lower of cost or fair value | — |  |  | 341 |
Proceeds from sale of foreclosed properties | (36 | ) |  | (528 | )
Net (loss) gain on sale of foreclosed properties | (70 | ) |  | 207 |
Impairment valuation | (23 | ) |  | (36 | )
Foreclosed properties at the end of the period | $ | 1,548 |  |  | $ | 1,677 |
Fair Value, by Balance Sheet Grouping | Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:
|  | June 30, 2016
|  | Carrying Amount |  | Fair Value
|  |  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 131,611 |  |  | $ | 131,620 |  |  | $ | 120,066 |  |  | $ | 4,704 |  |  | $ | 6,850 |
Securities available-for-sale |  | 137,692 |  |  | 137,692 |  |  | — |  |  | 137,692 |  |  | — |
Securities held-to-maturity |  | 36,167 |  |  | 37,009 |  |  | — |  |  | 37,009 |  |  | — |
Loans held for sale |  | 5,548 |  |  | 5,548 |  |  | — |  |  | 5,548 |  |  | — |
Loans and lease receivables, net |  | 1,433,661 |  |  | 1,474,444 |  |  | — |  |  | 11,765 |  |  | 1,462,679 |
Federal Home Loan Bank and Federal Reserve Bank stock |  | 2,163 |  |  | 2,163 |  |  | — |  |  | — |  |  | 2,163 |
Cash surrender value of life insurance |  | 28,784 |  |  | 28,784 |  |  | 28,784 |  |  | — |  |  | — |
Accrued interest receivable |  | 4,599 |  |  | 4,599 |  |  | 4,599 |  |  | — |  |  | — |
Interest rate swaps |  | 1,182 |  |  | 1,182 |  |  | — |  |  | 1,182 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,607,944 |  |  | $ | 1,615,888 |  |  | $ | 1,066,655 |  |  | $ | 549,233 |  |  | $ | — |
Federal Home Loan Bank and other borrowings |  | 33,570 |  |  | 34,639 |  |  | — |  |  | 34,639 |  |  | — |
Junior subordinated notes |  | 9,997 |  |  | 6,607 |  |  | — |  |  | — |  |  | 6,607 |
Interest rate swaps |  | 1,182 |  |  | 1,182 |  |  | — |  |  | 1,182 |  |  | — |
Accrued interest payable |  | 1,760 |  |  | 1,760 |  |  | 1,760 |  |  | — |  |  | — |
Off-balance-sheet items: |  |  |  |  |  |  |  |  |  |
Standby letters of credit |  | 48 |  |  | 48 |  |  | — |  |  | — |  |  | 48 |
|  | December 31, 2015
|  | Carrying Amount |  | Fair Value
|  |  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,564 |  |  | $ | 113,564 |  |  | $ | 100,063 |  |  | $ | 4,451 |  |  | $ | 9,050 |
Securities available-for-sale |  | 140,548 |  |  | 140,548 |  |  | — |  |  | 140,548 |  |  | — |
Securities held-to-maturity |  | 37,282 |  |  | 37,558 |  |  | — |  |  | 37,558 |  |  | — |
Loans held for sale |  | 2,702 |  |  | 2,702 |  |  | — |  |  | 2,702 |  |  | — |
Loans and lease receivables, net |  | 1,414,649 |  |  | 1,445,773 |  |  | — |  |  | 11,518 |  |  | 1,434,255 |
Federal Home Loan Bank and Federal Reserve Bank stock |  | 2,843 |  |  | 2,843 |  |  | — |  |  | — |  |  | 2,843 |
Cash surrender value of life insurance |  | 28,298 |  |  | 28,298 |  |  | 28,298 |  |  | — |  |  | — |
Accrued interest receivable |  | 4,412 |  |  | 4,412 |  |  | 4,412 |  |  | — |  |  | — |
Interest rate swaps |  | 552 |  |  | 552 |  |  | — |  |  | 552 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,577,231 |  |  | $ | 1,577,838 |  |  | $ | 1,009,762 |  |  | $ | 568,076 |  |  | $ | — |
Federal Home Loan Bank and other borrowings |  | 34,740 |  |  | 35,353 |  |  | — |  |  | 35,353 |  |  | — |
Junior subordinated notes |  | 9,990 |  |  | 6,614 |  |  | — |  |  | — |  |  | 6,614 |
Interest rate swaps |  | 552 |  |  | 552 |  |  | — |  |  | 552 |  |  | — |
Accrued interest payable |  | 1,766 |  |  | 1,766 |  |  | 1,766 |  |  | — |  |  | — |
Off-balance-sheet items: |  |  |  |  |  |  |  |  |  |
Standby letters of credit |  | 183 |  |  | 183 |  |  | — |  |  | — |  |  | 183 |

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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). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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