FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2018

FAIR VALUE

Schedule of assets and liabilities measured on a recurring basis

	September 30, 2018
			Fair Value Measurements Using:
			Quoted Prices
			In Active	Significant
			Markets for	Other		Significant
			Identical	Observable		Unobservable
	Carrying		Assets	Inputs		Inputs
(In thousands)	Value		(Level 1)	(Level 2)		(Level 3)
Financial assets:
Available for sale securities:
U.S. GSE securities	$	28,544		$	28,544
State and municipal obligations		35,172			35,172
U.S. GSE residential mortgage-backed securities		92,730			92,730
U.S. GSE residential collateralized mortgage obligations		345,309			345,309
U.S. GSE commercial mortgage-backed securities		3,480			3,480
U.S. GSE commercial collateralized mortgage obligations		90,669			90,669
Other asset backed securities		23,522			23,522
Corporate bonds		42,436			42,436
Total available for sale securities	$	661,862		$	661,862
Derivatives	$	9,865		$	9,865
Financial liabilities:
Derivatives	$	3,364		$	3,364

	December 31, 2017
			Fair Value Measurements Using:
			Quoted Prices
			In Active	Significant
			Markets for	Other		Significant
			Identical	Observable		Unobservable
	Carrying		Assets	Inputs		Inputs
(In thousands)	Value		(Level 1)	(Level 2)		(Level 3)
Financial assets:
Available for sale securities:
U.S. GSE securities	$	56,814		$	56,814
State and municipal obligations		87,022			87,022
U.S. GSE residential mortgage-backed securities		186,901			186,901
U.S. GSE residential collateralized mortgage obligations		307,390			307,390
U.S. GSE commercial mortgage-backed securities		5,979			5,979
U.S. GSE commercial collateralized mortgage obligations		48,716			48,716
Other asset backed securities		23,401			23,401
Corporate bonds		43,693			43,693
Total available for sale securities	$	759,916		$	759,916
Derivatives	$	4,546		$	4,546
Financial liabilities:
Derivatives	$	1,823		$	1,823

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

	September 30, 2018
			Fair Value Measurements Using:
			Quoted Prices
			In Active	Significant
			Markets for	Other	Significant
			Identical	Observable	Unobservable
	Carrying		Assets	Inputs	Inputs
(In thousands)	Value		(Level 1)	(Level 2)	(Level 3)
Impaired loans	$	—			$	—
Other real estate owned	$	175			$	175

	December 31, 2017
			Fair Value Measurements Using:
			Quoted Prices
			In Active	Significant
			Markets for	Other	Significant
			Identical	Observable	Unobservable
	Carrying		Assets	Inputs	Inputs
(In thousands)	Value		(Level 1)	(Level 2)	(Level 3)
Impaired loans	$	—			$	—
Other real estate owned	$	—			$	—

Schedule of estimated fair values and recorded carrying values of financial instruments

	September 30, 2018
			Fair Value Measurements Using:
					Significant
			Quoted Prices In		Other		Significant
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs		Total
(In thousands)	Amount		(Level 1)		(Level 2)		(Level 3)		Fair Value
Financial assets:
Cash and due from banks	$	63,687	$	63,687	$	—	$	—	$	63,687
Interest earning deposits with banks		61,414		61,414		—		—		61,414
Securities available for sale		661,862		—		661,862		—		661,862
Securities restricted		25,162		n/a		n/a		n/a		n/a
Securities held to maturity		164,438		—		159,244		—		159,244
Loans held for sale		1,619		—		1,692		—		1,692
Loans, net		3,165,558		—		—		3,126,345		3,126,345
Derivatives		9,865		—		9,865		—		9,865
Accrued interest receivable		11,793		—		2,885		8,908		11,793
Financial liabilities:
Certificates of deposit		328,092		—		325,354		—		325,354
Demand and other deposits		3,291,050		3,291,050		—		—		3,291,050
Federal Home Loan Bank advances		265,648		—		259,116		—		259,116
Repurchase agreements		816		—		816		—		816
Subordinated debentures		78,746		—		73,917		—		73,917
Derivatives		3,364		—		3,364		—		3,364
Accrued interest payable		494		—		494		—		494

	December 31, 2017
			Fair Value Measurements Using:
					Significant
			Quoted Prices In		Other		Significant
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs		Total
(In thousands)	Amount		(Level 1)		(Level 2)		(Level 3)		Fair Value
Financial assets:
Cash and due from banks	$	76,614	$	76,614	$	—	$	—	$	76,614
Interest earning deposits with banks		18,133		18,133		—		—		18,133
Securities available for sale		759,916		—		759,916		—		759,916
Securities restricted		35,349		n/a		n/a		n/a		n/a
Securities held to maturity		180,866		—		179,885		—		179,885
Loans, net		3,071,045		—		—		3,010,023		3,010,023
Derivatives		4,546		—		4,546		—		4,546
Accrued interest receivable		11,652		—		3,211		8,441		11,652
Financial liabilities:
Certificates of deposit		222,364		—		220,775		—		220,775
Demand and other deposits		3,112,179		3,112,179		—		—		3,112,179
Federal funds purchased		50,000		50,000		—		—		50,000
Federal Home Loan Bank advances		501,374		185,000		313,558		—		498,558
Repurchase agreements		877		—		877		—		877
Subordinated debentures		78,641		—		77,933		—		77,933
Derivatives		1,823		—		1,823		—		1,823
Accrued interest payable		1,574		—		1,574		—		1,574