COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Summary of Contractual and Notional Amounts of Financial Instruments

The following is a summary of the contractual and notional amounts of the Company’s financial instruments:

	June 30, 2016		December 31, 2015
Lending-Related Instruments:
Loan origination commitments and unadvanced lines of credit:
Home equity	$	464,991	$	464,701
Commercial and commercial real estate	52,268		94,791
Residential	28,809		16,256
Letters of credit	3,009		4,468
Other commitments	442		433
Derivative Financial Instruments:
Customer loan swaps	$	464,514	$	285,888
FHLBB advance interest rate swaps	50,000		50,000
Junior subordinated debt interest rate swaps	43,000		43,000
Interest rate lock commitments	49,113		20,735

Summary of Derivative Financial Instruments

The following table presents the total positions, notional and fair value of the Company's customer loans swaps with its commercial customers and the corresponding interest rate swap agreements with counterparty for the periods indicated:

	June 30, 2016						December 31, 2015
	Number of Positions	Notional		Fair Value			Number of Positions	Notional		Fair Value
Receive fixed, pay variable(1)	44	$	232,257	$	15,001		28	$	142,944	$	3,166
Pay fixed, received variable(2)	44	232,257		(15,001		)	28	142,944		(3,166		)
(1) Presented within other assets on the consolidated statements of condition.
(2) Presented within accrued interest and other liabilities on the consolidated statements of condition.

The details of the interest rate swap agreements are as follows:

						June 30, 2016			December 31, 2015
Notional Amount		Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	Fair Value(1)			Fair Value(1)
$	25,000	2/25/2015	2/25/2018	1-Month USD LIBOR	1.54%	$	(421	)	$	(230	)
25,000		2/25/2015	2/25/2019	1-Month USD LIBOR	1.74%	(751		)	(346		)
$	50,000					$	(1,172	)	$	(576	)
(1) Presented within accrued interest and other liabilities on the consolidated statements of condition.

The details of the interest rate swap agreements are as follows: 

						June 30, 2016			December 31, 2015
Notional Amount		Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	Fair Value(1)			Fair Value(1)
$	10,000	3/18/2009	6/30/2021	3-Month USD LIBOR	5.09%	$	(1,354	)	$	(1,038	)
10,000		7/8/2009	6/30/2029	3-Month USD LIBOR	5.84%	(3,583		)	(2,537		)
10,000		5/6/2010	6/30/2030	3-Month USD LIBOR	5.71%	(3,604		)	(2,477		)
5,000		3/14/2011	3/30/2031	3-Month USD LIBOR	4.35%	(1,893		)	(1,301		)
8,000		5/4/2011	7/7/2031	3-Month USD LIBOR	4.14%	(2,831		)	(1,876		)
$	43,000					$	(13,265	)	$	(9,229	)
(1) Presented within accrued interest and other liabilities on the consolidated statements of condition.

Schedule of Interest Rate Derivatives

At June 30, 2016 and December 31, 2015, our pipeline of mortgage loans with interest rate lock commitments were as follows:

	June 30, 2016				December 31, 2015
	Notional		Fair Value		Notional		Fair Value
Mortgage interest rate locks(1)	$	49,113	$	523	$	20,735	$	139
(1) Presented within other assets on the consolidated statements of condition.

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:

	For The Three Months Ended June 30,						For The Six Months Ended June 30,
	2016			2015			2016			2015
Derivatives designated as cash flow hedges
Net change in unrealized losses on cash flow hedging derivatives, net of tax (effective portion)	$	(905	)	$	1,694		$	(3,010	)	$	522
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense (effective portion), gross	$	(622	)	$	(158	)	$	(987	)	$	(501	)