FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on Recurring Basis

The following tables summarize, at the dates 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, 2023		(Level 1)		(Level 2)		(Level 3)
Assets:
Securities available for sale:
U.S. government-sponsored agencies	$	197,691	$	—	$	197,691	$	—
Mortgage-backed securities-residential		320,796		—		320,796		—
SBA pool securities		23,404		—		23,404		—
Corporate bond		8,726		—		8,726		—
CRA investment fund		13,166		13,166		—		—
Derivatives:
Cash flow hedges		6,814		—		6,814		—
Loan level swaps		23,826		—		23,826		—
Total	$	594,423	$	13,166	$	581,257	$	—
Liabilities:
Derivatives:
Loan level swaps		23,826		—		23,826		—
Total	$	23,826	$	—	$	23,826	$	—
(In thousands)	December 31, 2022
Assets:
Securities available for sale:
U.S. government-sponsored agencies	$	190,542	$	—	$	190,542	$	—
Mortgage-backed securities-residential		325,738		—		325,738		—
SBA pool securities		27,427		—		27,427		—
State and political subdivisions		1,849		—		1,849		—
Corporate bond		9,092		—		9,092		—
CRA investment fund		12,985		12,985		—		—
Derivatives:
Cash flow hedges		9,289		—		9,289		—
Loan level swaps		38,265		—		38,265		—
Total	$	615,187	$	12,985	$	602,202	$	—
Liabilities:
Derivatives:
Loan level swaps		38,265		—		38,265		—
Total	$	38,265	$	—	$	38,265	$	—

Schedule of Residential Loans Held for Sale

The following table presents residential loans held for sale, at fair value, at the dates indicated:

	December 31, 2023		December 31, 2022
Residential loans contractual balance	$	98	$	—
Fair value adjustment		2		—
Total fair value of residential loans held for sale	$	100	$	—

Schedule of Assets Measured at Fair Value on Non-Recurring Basis

The following tables summarize, at the date indicated, assets measured at fair value on a non-recurring basis:

			Fair Value Measurements Using
			Quoted
			Prices In
			Active
			Markets		Significant
			For		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(In thousands)	December 31, 2023		(Level 1)		(Level 2)		(Level 3)
Assets:
Individually evaluated loans:
Commercial and industrial	$	22,947	$	—	$	—	$	22,947
Lease financing		1,035		—		—		1,035

			Fair Value Measurements Using
			Quoted
			Prices In
			Active
			Markets		Significant
			For		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(In thousands)	December 31, 2022		(Level 1)		(Level 2)		(Level 3)
Assets:
Impaired loans:
Investment commercial real estate	$	10,000	$	—	$	—	$	10,000
Commercial and industrial		743		—		—		743

Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at December 31, 2023 are as follows:

			Fair Value Measurements at December 31, 2023 Using
(In thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	187,671	$	187,671	$	—	$	—	$	187,671
Securities available for sale		550,617		—		550,617		—		550,617
Securities held to maturity		107,755		—		94,415		—		94,415
CRA investment fund		13,166		13,166		—		—		13,166
FHLB and FRB stock		31,044		—		—		—	N/A
Loans held for sale, at fair value		100		—		100		—		100
Loans held for sale, at lower of cost    or fair value		6,695		—		7,201		—		7,201
Loans, net of allowance for credit losses		5,363,437		—		—		5,294,942		5,294,942
Accrued interest receivable		30,676		—		2,868		27,808		30,676
Accrued interest receivable loan level swaps (A)		1,373		—		1,373		—		1,373
Cash flow hedges		6,814		—		6,814		—		6,814
Loan level swaps		23,826		—		23,826		—		23,826
Financial liabilities
Deposits	$	5,274,114	$	4,702,012	$	567,696	$	—	$	5,269,708
Short-term borrowings		403,814		—		403,814		—		403,814
Subordinated debt		133,274		—		—		111,924		111,924
Accrued interest payable		7,115		4,989		1,968		158		7,115
Accrued interest payable loan level swaps (B)		1,373		—		1,373		—		1,373
Loan level swaps		23,826		—		23,826		—		23,826

(A)Included in other assets in the Consolidated Statement of Condition.

(B)Included in accrued expenses and other liabilities in the Consolidated Statement of Condition.

The carrying amounts and estimated fair values of financial instruments at December 31, 2022 are as follows:

			Fair Value Measurements at December 31, 2022 Using
(In thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	190,075	$	190,075	$	—	$	—	$	190,075
Securities available for sale		554,648		—		554,648		—		554,648
Securities held to maturity		102,291		—		87,187		—		87,187
CRA investment fund		12,985		12,985		—		—		12,985
FHLB and FRB stock		30,672		—		—		—	N/A
Loans held for sale, at lower of cost    or fair value		15,626		—		17,176		—		17,176
Loans, net of allowance for loan losses		5,224,417		—		—		5,141,201		5,141,201
Accrued interest receivable		25,157		—		2,393		22,764		25,157
Accrued interest receivable loan level    swaps (A)		1,092		—		1,092		—		1,092
Cash flow hedges		9,289		—		9,289		—		9,289
Loan level swaps		38,265		—		38,265		—		38,265
Financial liabilities
Deposits	$	5,205,164	$	4,835,249	$	356,975	$	—	$	5,192,224
Short-term borrowings		379,530		—		379,530		—		379,530
Subordinated debt		132,987		—		—		119,865		119,865
Accrued interest payable		2,997		2,509		413		75		2,997
Accrued interest payable loan level    swaps (B)		1,092		—		1,092		—		1,092
Loan level swaps		38,265		—		38,265		—		38,265

(A)Included in other assets in the Consolidated Statement of Condition.

(B)Included in accrued expenses and other liabilities in the Consolidated Statement of Condition.