Fair Value (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Financial assets and Liabilities at Dates Indicated that were Accounted for or Disclosed at Fair Value

The following tables set forth the Company’s financial assets and liabilities at the dates indicated that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	At June 30, 2013
(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Residential mortgage loans held for sale	$	-	$	29,033	$	-	$	29,033
Investments available-for-sale:
U.S. government agencies		-		174,687		-		174,687
State and municipal		-		167,159		-		167,159
Mortgage-backed		-		492,420		-		492,420
Corporate debt		-		2,006		-		2,006
Trust preferred		-		-		1,445		1,445
Marketable equity securities		-		723		-		723
Interest rate swap agreements		-		1,974		-		1,974
Liabilities
Interest rate swap agreements	$	-	$	(1,974)	$	-	$	(1,974)

	At December 31, 2012
(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Residential mortgage loans held for sale	$	-	$	36,149	$	-	$	36,149
Investments available-for-sale:
U.S. government agencies		-		156,428		-		156,428
State and municipal		-		174,491		-		174,491
Mortgage-backed		-		490,479		-		490,479
Corporate debt		-		1,996		-		1,996
Trust preferred		-		-		1,465		1,465
Marketable equity securities		-		723		-		723
Interest rate swap agreements		-		1,280		-		1,280
Liabilities
Interest rate swap agreements	$	-	$	(1,280)	$	-	$	(1,280)

Unrealized Losses Included in Assets Measured in Condensed Consolidated Statements of Condition at Fair Value on a Recurring Basis

The following table provides unrealized losses included in assets measured in the Condensed Consolidated Statements of Condition at fair value on a recurring basis for the period indicated:

	Significant Unobservable Inputs
(In thousands)	(Level 3)
Investments available-for-sale:
Balance at January 1, 2013	$	1,465
Total OTTI included in earnings		-
Principal redemption		-
Total unrealized losses included in other comprehensive income (loss)		(20)
Balance at June 30, 2013	$	1,445

Assets Measured at Fair Value on Nonrecurring Basis

The following table sets forth the Company’s financial assets subject to fair value adjustments (impairment) on a nonrecurring basis at the date indicated that are valued at the lower of cost or market. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	At June 30, 2013
(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Total Losses
Impaired loans (1)	$	-	$	-	$	34,496	$	34,496	$	(1,895)
Other real estate owned		-		-		4,831		4,831		(65)
Total	$	-	$	-	$	39,327	$	39,327	$	(1,960)

(1) Amounts represent the fair value of collateral for impaired loans allocated to the allowance for loan and lease losses. Fair values are determined using actual market prices (Level 1), independent third party valuations and borrower records, discounted as appropriate (Level 3).

	At December 31, 2012
(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Total Losses
Impaired loans (1)	$	-	$	-	$	43,624	$	43,624	$	(6,730)
Other real estate owned		-		-		5,926		5,926		(188)
Total	$	-	$	-	$	49,550	$	49,550	$	(6,918)

(1) Amounts represent the fair value of collateral for impaired loans allocated to the allowance for loan and lease losses. Fair values are determined using actual market prices (Level 1), independent third party valuations and borrower records, discounted as appropriate (Level 3).

Carrying Amounts And Fair Values of Company's Financial Instruments

The carrying amounts and fair values of the Company's financial instruments at the dates indicated are presented in the following table:

					Fair Value Measurements
	June 30, 2013				Quoted Prices in
			Estimated		Active Markets for		Significant Other		Significant
	Carrying		Fair		Identical Assets		Observable Inputs		Unobservable Inputs
(In thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Investments held-to-maturity	$	226,457	$	220,838	$	-	$	220,838	$	-
Other equity securities		37,312		37,312		-		37,312		-
Loans, net of allowance		2,566,443		2,609,329		-		-		2,609,329
Other assets		84,949		84,949		-		84,949		-
Financial Liabilities
Time Deposits	$	487,571	$	489,080	$	-	$	489,080	$	-
Securities sold under retail repurchase agreements and federal funds purchased		54,731		54,731		-		54,731		-
Advances from FHLB		540,000		570,955		-		570,955		-
Subordinated debentures		35,000		8,855		-		-		8,855

					Fair Value Measurements
	December 31, 2012				Quoted Prices in
			Estimated		Active Markets for		Significant Other		Significant
	Carrying		Fair		Identical Assets		Observable Inputs		Unobservable Inputs
(In thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Investments held-to-maturity	$	215,814	$	222,024	$	-	$	255,660	$	-
Other equity securities		33,636		33,636		-		33,636		-
Loans, net of allowance		2,488,171		2,453,314		-		-		2,453,314
Other assets		83,714		83,714		-		83,714		-
Financial Liabilities
Time Deposits	$	524,820	$	528,074	$	-	$	528,074	$	-
Securities sold under retail repurchase agreements and federal funds purchased		86,929		86,929		-		86,929		-
Advances from FHLB		405,058		451,408		-		451,408		-
Subordinated debentures		35,000		9,919		-		-		9,919