COMMITMENTS, CONTINGENCIES AND DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2018

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:

	September 30, 2018		December 31,   2017
Lending-Related Instruments:
Loan origination commitments and unadvanced lines of credit:
Home equity	$	495,086	$	477,401
Residential	44,624		41,368
Commercial and commercial real estate	29,443		49,482
Letters of credit	2,676		2,848
Other commitments	2,478		523
Derivative Financial Instruments:
Customer loan swaps	$	793,212	$	703,336
Junior subordinated debt interest rate swaps	43,000		43,000
FHLBB advance interest rate swaps	25,000		50,000
Interest rate lock commitments	23,519		21,746
Forward delivery commitments	10,188		8,065

Summary of Derivative Financial Instruments

The details of the junior subordinated debt interest rate swaps for the periods indicated were as follows: 

						Fair Value(1)
Notional Amount		Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	September 30, 2018		December 31,   2017
$	10,000	3/18/2009	6/30/2021	3-Month USD LIBOR	5.09%	$	192	$	527
10,000		7/8/2009	6/30/2029	3-Month USD LIBOR	5.84%	1,300		2,133
10,000		5/6/2010	6/30/2030	3-Month USD LIBOR	5.71%	1,260		2,129
5,000		3/14/2011	3/30/2031	3-Month USD LIBOR	4.35%	683		1,137
8,000		5/4/2011	7/7/2031	3-Month USD LIBOR	4.14%	926		1,645
$	43,000					$	4,361	$	7,571

(1) Presented within accrued interest and other liabilities on the consolidated statements of condition.

The details of the FHLBB advance interest rate swaps for the periods indicated were as follows:

						Fair Value(1)
Notional Amount		Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	September 30, 2018		December 31,   2017
$	25,000	2/25/2015	2/25/2018	1-Month USD LIBOR	1.54%	$	—	$	20
25,000		2/25/2015	2/25/2019	1-Month USD LIBOR	1.74%	65		1
						$	65	$	21

(1) Presented within other assets on the consolidated statements of condition.

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:

		September 30, 2018						December 31, 2017
	Balance Sheet Location	Number of Positions	Notional		Fair Value			Number of Positions	Notional		Fair Value
Receive fixed, pay variable	Other assets / (accrued interest and other liabilities)	67	$	339,886	$	(15,562	)	42	$	226,884	$	(5,036	)
Receive fixed, pay variable	Other assets / (accrued interest and other liabilities)	8	56,720		684			23	124,784		1,799
Pay fixed, receive variable	Other assets / (accrued interest and other liabilities)	75	396,606		14,878			65	351,668		3,237
Total		150	$	793,212	$	—		130	$	703,336	$	—

The Company's pipeline of mortgage loans with fixed-rate interest rate lock commitments for which the Company intends to sell the loan upon origination were as follows for the periods indicated:

		September 30, 2018					December 31, 2017
	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Fixed-rate mortgage interest rate locks	Other Assets	$	21,609	$	330		$	19,886	$	307
Fixed-rate mortgage interest rate locks	Accrued interest and other liabilities	1,910		(7		)	1,860		(22		)
Total		$	23,519	$	323		$	21,746	$	285

Forward Delivery Commitments

The Company's forward delivery commitments on loans held for sale was as follows for the periods indicated:

		September 30, 2018					December 31, 2017
	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Forward delivery commitments ("best effort")	Other Assets	$	9,026	$	253		$	6,692	$	158
Forward delivery commitments ("best effort")	Accrued interest and other liabilities	1,162		(12		)	1,373		(16		)
Total		$	10,188	$	241		$	8,065	$	142

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 September 30					For The Nine Months Ended September 30,
	2018		2017			2018		2017
Derivatives designated as cash flow hedges:
Effective portion of unrealized gains (losses) recognized within OCI during the period, net of tax	$	462	$	(80	)	$	2,031	$	(452	)
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross	$	177	$	366		$	665	$	1,234