Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Investments, All Other Investments [Abstract]

Carrying Amounts and Fair Values of Company's Financial Instruments

The following presents (in thousands) the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2016 and December 31, 2015. This table excludes financial instruments for which the carrying amount approximates fair value. Financial assets for which the fair value approximates carrying value include cash and cash equivalents, short-term investments, FHLBB stock and accrued interest receivable. Financial liabilities for which the fair value approximates carrying value include non-maturity deposits, short-term borrowings and accrued interest payable.

	Carrying Amount		Estimated Fair Value		Fair Value Measurements
					Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
March 31, 2016	(in thousands)
Financial assets:
Securities held-to-maturity	$	1,412,702	$	1,437,205	$	—	$	1,437,205	$	—
Loans Held-for-Sale		48,180		48,958				48,958
Loans (1)		1,738,914		1,750,498		—		—		1,750,498
Financial liabilities:
Time deposits		446,185		448,690		—		448,690		—
Other borrowed funds		356,000		365,342		—		365,342		—
Subordinated debentures		36,083		36,083		—		—		36,083
December 31, 2015
Financial assets:
Securities held-to-maturity		1,438,903		1,438,960		—		1,438,960		—
Loans (1)		1,708,461		1,677,270		—		—		1,677,270
Financial liabilities:
Time deposits		473,426		474,046		—		474,046		—
Other borrowed funds		368,000		372,209		—		372,209		—
Subordinated debentures		36,083		36,083		—		—		36,083

(1) Comprised of loans (including collateral dependent impaired loans), net of deferred loan costs and the allowance for loan losses.