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FAIR VALUES (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

						Fair Value Measurement at December 31, 2016 Using
Financial Assets:		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Obligations of U.S. Government and U.S.   Government sponsored enterprises		$	17,455			$	—			$	17,455			$	—
Mortgage-backed securities, residential		245,866				—				245,866				—
Obligations of states and political subdivisions		38,740				—				38,740				—
Corporate bonds and notes		250				—				—				250
SBA loan pools		570				—				570				—
Corporate stocks		521				170				351				—
Total available for sale securities		$	303,402			$	170			$	302,982			$	250
Trading assets		$	774			$	774			$	—			$	—
Derivative assets		693				—				693				—
Financial Liabilities:
Derivative liabilities		$	761			$	—			$	693			$	68

						Fair Value Measurement at December 31, 2015 Using
Financial Assets:		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Obligations of U.S. Government and U.S.   Government sponsored enterprises		$	100,166			$	14,784			$	85,382			$	—
Mortgage-backed securities, residential		198,366				—				198,366				—
Obligations of states and political subdivisions		44,426				—				44,426				—
Corporate bonds and notes		752				—				504				248
SBA loan pools		647				—				647				—
Corporate stocks		463				56				407				—
Total available for sale securities		$	344,820			$	14,840			$	329,732			$	248
Trading assets		$	701			$	701			$	—			$	—
Derivative assets		15				—				15				—
Financial Liabilities:
Derivative liabilities		$	63			$	—			$	15			$	48

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

The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31:

		Assets (Liabilities)
		Corporate Bonds and Notes								Derivative Liabilities
(in thousands)		2016				2015				2016				2015
Balance of recurring Level 3 assets at January 1		$	248			$	—			$	(48	)		$	(18	)
Derivative instruments entered into		—				—				(25		)		(1		)
Total gains or losses for the period:
Included in earnings - other non-interest income		—				—				5				(29		)
Included in other comprehensive income		2				—				—				—
Transfers into Level 3		—				248				—				—
Balance of recurring Level 3 assets at December 31		$	250			$	248			$	(68	)		$	(48	)

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

The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31:

		Assets (Liabilities)
		Corporate Bonds and Notes								Derivative Liabilities
(in thousands)		2016				2015				2016				2015
Balance of recurring Level 3 assets at January 1		$	248			$	—			$	(48	)		$	(18	)
Derivative instruments entered into		—				—				(25		)		(1		)
Total gains or losses for the period:
Included in earnings - other non-interest income		—				—				5				(29		)
Included in other comprehensive income		2				—				—				—
Transfers into Level 3		—				248				—				—
Balance of recurring Level 3 assets at December 31		$	250			$	248			$	(68	)		$	(48	)

Summary of Assets and Liabilities Measured at Fair Value on Non-recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are summarized below (in thousands):

						Fair Value Measurement at December 31, 2016 Using
Financial Assets:		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired Loans:
Commercial mortgages:
Commercial mortgages		$	2,631			$	—			$	—			$	2,631
Consumer loans:
Home equity lines and loans		219				—				—				219
Total impaired loans		$	2,850			$	—			$	—			$	2,850
Other real estate owned:
Residential mortgages		$	344			$	—			$	—			$	344
Total other real estate owned, net		$	344			$	—			$	—			$	344

						Fair Value Measurement at December 31, 2015 Using
Financial Assets:		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Impaired Loans:
Commercial mortgages:
Commercial mortgages		$	2,629			$	—			$	—			$	2,629
Consumer loans:
Home equity lines and loans		287				—				—				287
Total impaired loans		$	2,916			$	—			$	—			$	2,916
Other real estate owned:
Commercial mortgages:
Commercial mortgages		$	1,491			$	—			$	1,491			$	—
Residential mortgages		39				—				—				39
Total other real estate owned, net		$	1,530			$	—			$	1,491			$	39

The following table presents information related to Level 3 non-recurring fair value measurement at December 31, 2016 and December 31, 2015 (in thousands):

Asset		Fair Value				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2016
Impaired loans:
Commercial mortgages:
Commercial mortgages		$	2,631			Income approach		Capitalization Rate		9.00% - 10.00% [9.52%]
Consumer loans:
Home equity lines and loans		219				Sales comparison		Discount to appraised value		22.98% - 22.98% [22.98%]
		$	2,850
OREO:
Residential mortgages		$	344			Sales comparison		Discount to appraised value		20.80% - 48.17% [30.50%]
		$	344

Asset		Fair Value				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2015
Impaired loans:
Commercial mortgages:
Commercial mortgages		$	2,629			Sales comparison		Discount to appraised value		10.00% - 17.19% [16.06%]
Consumer loans:
Home equity lines and loans		287				Sales comparison		Discount to appraised value		18.04% - 18.04% [18.04%]
		$	2,916
OREO:
Residential mortgages		$	39			Sales comparison		Discount to appraised value		22.30% - 22.30% [22.30%]
		$	39

Information Related To Level 3 Non-Recurring Fair Value Measurement

The following table presents information related to Level 3 recurring fair value measurement at December 31, 2016 and December 31, 2015 (in thousands):

Description		Fair Value at December 31, 2016				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2016
Corporate bonds and notes		$	250			Discounted cash flow		Credit spread		1.73% - 1.73% [1.73%]
Derivative liabilities		$	68			Historical trend		Credit default rate		4.92% - 4.92% [4.92%]

Description		Fair Value at December 31, 2015				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2015
Corporate bonds and notes		$	248			Discounted cash flow		Credit spread		1.73% - 1.73% [1.73%]
Derivative liabilities		$	48			Historical trend		Credit default rate		5.83% - 5.83% [5.83%]

The following table presents information related to Level 3 non-recurring fair value measurement at December 31, 2016 and December 31, 2015 (in thousands):

Asset		Fair Value				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2016
Impaired loans:
Commercial mortgages:
Commercial mortgages		$	2,631			Income approach		Capitalization Rate		9.00% - 10.00% [9.52%]
Consumer loans:
Home equity lines and loans		219				Sales comparison		Discount to appraised value		22.98% - 22.98% [22.98%]
		$	2,850
OREO:
Residential mortgages		$	344			Sales comparison		Discount to appraised value		20.80% - 48.17% [30.50%]
		$	344

Asset		Fair Value				Valuation Technique		Unobservable Inputs		Range [Weighted Average] at December 31, 2015
Impaired loans:
Commercial mortgages:
Commercial mortgages		$	2,629			Sales comparison		Discount to appraised value		10.00% - 17.19% [16.06%]
Consumer loans:
Home equity lines and loans		287				Sales comparison		Discount to appraised value		18.04% - 18.04% [18.04%]
		$	2,916
OREO:
Residential mortgages		$	39			Sales comparison		Discount to appraised value		22.30% - 22.30% [22.30%]
		$	39

Carrying Value and Estimated Fair Value of Other Financial Instruments

The carrying amounts and estimated fair values of other financial instruments, at December 31, 2016 and December 31, 2015, are as follows (in thousands):

						Fair Value Measurements at December 31, 2016 Using
Financial assets:		Carrying Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Estimated Fair Value (1)
Cash and due from financial   institutions		$	28,205			$	28,205			$	—			$	—			$	28,205
Interest-bearing deposits in other   financial institutions		45,957				45,957				—				—				45,957
Trading assets		774				774				—				—				774
Securities available for sale		303,402				170				302,982				250				303,402
Securities held to maturity		4,705				—				981				3,931				4,912
FHLBNY and FRBNY stock		4,041				—				—				—				N/A
Loans, net		1,186,037				—				—				1,205,814				1,205,814
Loans held for sale		412				—				412				—				412
Accrued interest receivable		4,000				9				784				3,207				4,000
Derivative assets		693				—				693				—				693
Financial liabilities:
Deposits:
Demand, savings, and insured   money market accounts		$	1,312,237			$	1,312,237			$	—			$	—			$	1,312,237
Time deposits		144,106				—				144,460				—				144,460
Securities sold under agreements   to repurchase		27,606				—				27,880				—				27,880
FHLBNY term advances		9,093				—				9,189				—				9,189
Accrued interest payable		210				25				185				—				210
Derivative liabilities		761				—				693				68				761

(1) Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

						Fair Value Measurements at December 31, 2015 Using
Financial Assets:		Carrying Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Estimated Fair Value (1)
Cash and due from financial institutions		$	24,886			$	24,886			$	—			$	—			$	24,886
Interest-bearing deposits in other   financial institutions		1,299				1,299				—				—				1,299
Trading assets		701				701				—				—				701
Securities available for sale		344,820				14,840				329,732				248				344,820
Securities held to maturity		4,566				—				—				4,822				4,822
FHLBNY and FRBNY stock		4,797				—				—				—				N/A
Loans, net		1,154,373				—				—				1,178,081				1,178,081
Loans held for sale		1,076				—				1,076				—				1,076
Accrued interest receivable		4,015				39				1,141				2,835				4,015
Derivative assets		15				—				15				—				15
Financial liabilities:
Deposits:
Demand, savings, and insured   money market accounts		$	1,234,216			$	1,234,216			$	—			$	—			$	1,234,216
Time deposits		166,079				—				166,551				—				166,551
Securities sold under agreements   to repurchase		28,453				—				29,128				—				29,128
FHLBNY overnight advances		13,900				—				13,901				—				13,901
FHLBNY term advances		19,203				—				19,658				—				19,658
Accrued interest payable		209				17				192				—				209
Derivative liabilities		63				—				15				48				63

(1) Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

X

- 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

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-Publisher FASB
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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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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

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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).

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