FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2015

FAIR VALUE [Abstract]

Schedule of assets measured at fair value on a recurring basis

Assets Measured on a Recurring Basis

				Fair Value Measurements Using
				Quoted
				Prices in
				Active
				Markets		Significant
				For		Other			Significant
				Identical		Observable			Unobservable
	September 30,			Assets		Inputs			Inputs
(In thousands)	2015			(Level 1)		(Level 2)			(Level 3)
Assets:
Available for sale:
U.S. government-sponsored
entities	$	4,846		$	—	$	4,846		$	—
Mortgage-backed securities-
residential		172,781			—		172,781			—
SBA pool securities		7,643			—		7,643			—
State and political subdivisions		29,913			—		29,913			—
Single-Issuer Trust Preferred		2,775			—		2,775			—
CRA investment fund		2,972			2,972		—			—
Loans held for sale, at fair value		501			—		501			—
Derivatives:
Loan level swaps		1,324			—		1,324			—
Total	$	222,755		$	2,972	$	219,783		$	—
Liabilities:
Derivatives:
Cash flow hedges	$	(3,379	)	$	—	$	(3,379	)	$	—
Loan level swaps		(1,324	)		—		(1,324	)		—
Total	$	(4,703	)	$	—	$	(4,703	)	$	—

				Fair Value Measurements Using
				Quoted
				Prices in
				Active
				Markets		Significant
				For		Other			Significant
				Identical		Observable			Unobservable
	December 31, 31,			Assets		Inputs			Inputs
(In thousands)	2014			(Level 1)		(Level 2)			(Level 3)
Assets:
Available for sale:
U.S. government-sponsored
entities	$	35,670		$	—	$	35,670		$	—
Mortgage-backed securities-
residential		242,289			—		242,289			—
SBA pool securities		7,944			—		7,944			—
State and political subdivisions		41,394			—		41,394			—
Single-Issuer Trust Preferred		2,400			—		2,400			—
CRA investment fund		2,955			2,955		—			—
Loans held for sale, at fair value		839			—		839			—
Total	$	333,491		$	2,955	$	330,536		$	—
Liabilities:
Derivatives	$	(169	)	$	—	$	(169	)	$	—

Schedule of residential loans held for sale

(In thousands)	September 30, 2015		December 31, 2014
Residential loans contractual balance	$	492	$	826
Fair value adjustment		9		13
Total fair value of residential loans held for sale	$	501	$	839

Schedule of assets measured at fair value on a non- recurring basis

			Fair Value Measurements Using
			Quoted
			Prices in
			Active
			Markets		Significant
			For		Other		Significant observable
			Identical		Observable		Unobservable
	September 30,		Assets		Inputs		Inputs
(In thousands)	2015		(Level 1)		(Level 2)		(Level 3)
Assets:
Impaired loans:
Primary residential mortgage	$	82	$	—	$	—	$	82
Home equity line of credit		54		—		—		54
OREO		330		—		—		330
	December 31,
(In thousands)	2014
Assets:
Impaired loans:
Primary residential mortgage	$	543	$	—	$	—	$	543
OREO		580		—		—		580

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of financial instruments at September 30, 2015 are as follows:

			Fair Value Measurements at September 30, 2015 using
	Carrying
(In thousands)	Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	76,198	$	76,198	$	—	$	—	$	76,198
Securities available for sale		220,930		2,972		217,958		—		220,930
FHLB and FRB stock		11,737		—		—		—		N/A
Loans held for sale, at fair value		501		—		501		—		501
Loans held for sale, at lower of cost
or fair value		27,023		—		27,023		—		27,023
Loans, net of allowance for loan losses		2,830,853		—		—		2,815,489		2,815,489
Accrued interest receivable		6,839		—		629		6,210		6,839
Loan level swap derivatives		1,324		—		1,324		—		1,324
Financial liabilities
Deposits	$	2,887,545	$	2,382,520	$	507,399	$	—	$	2,889,919
Overnight borrowings		—		—		—		—		—
Federal home loan bank advances		83,692		—		85,105		—		85,105
Accrued interest payable		876		106		770		—		876
Cash flow hedge derivatives		3,379		—		3,379		—		3,379
Loan level swap derivatives		1,324		—		1,324		—		1,324

The carrying amounts and estimated fair values of financial instruments at December 31, 2014 are as follows:

			Fair Value Measurements at December 31, 2014 using
	Carrying
(In thousands)	Amount		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	31,207	$	30,707	$	500	$	—	$	31,207
Securities available for sale		332,652		2,955		329,697		—		332,652
FHLB and FRB stock		11,593		—		—		—		N/A
Loans held for sale, at fair value		839		—		839		—		839
Loans, net of allowance for loan losses		2,230,787		—		—		2,213,604		2,213,604
Accrued interest receivable		5,371		—		924		4,447		5,371
Financial liabilities
Deposits	$	2,298,693	$	1,968,207	$	329,579	$	—	$	2,297,786
Overnight borrowings		54,600		—		54,600		—		54,600
Federal home loan bank advances		83,692		—		84,677		—		84,677
Financial liabilities derivatives		—		—		—		—		—
Accrued interest payable		496		103		393		—		496
Derivatives		169		—		169		—		169