FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2014

FAIR VALUE

Schedule of assets and liabilities measured on a recurring basis

				Fair Value Measurements at
				December 31, 2014 Using:
	Carrying Value			Quoted Prices In Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
(In thousands)
Financial Assets:
Available for sale securities
U.S. GSE securities	$	95,425			$	95,425
State and municipal obligations	63,693				63,693
U.S. GSE Residential mortgage-backed securities	101,425				101,425
U.S. GSE Residential collateralized mortgage Obligations	258,599				258,599
U.S. GSE Commercial mortgage-backed securities	2,945				2,945
U.S. GSE Commercial collateralized mortgage Obligations	24,082				24,082
Other Asset-backed securities	23,037				23,037
Corporate Bonds	17,978				17,978
Total available for sale	$	587,184			$	587,184
Financial Liabilities:
Derivatives	$	(943	)		$	(943	)

			Fair Value Measurements at
			December 31, 2013 Using:
	Carrying Value			Quoted Prices In Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
(In thousands)
Financial Assets:
Available for sale securities
U.S. GSE securities	$	152,757			$	152,757
State and municipal obligations	61,656				61,656
U.S. GSE Residential mortgage-backed securities	14,435				14,435
U.S. GSE Residential collateralized mortgage Obligations	279,191				279,191
U.S. GSE Commercial mortgage-backed securities	2,834				2,834
U.S. GSE Commercial collateralized mortgage Obligations	26,910				26,910
Non Agency commercial mortgage-backed securities	3,578				3,578
Other Asset backed securities	33,818				33,818
Total available for sale	$	575,179			$	575,179
Financial Liabilities:
Derivatives	$	(164	)		$	(164	)

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

			Fair Value Measurements at
			December 31, 2014 Using:
	Carrying Value			Quoted Prices In Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
(In thousands)
Impaired loans	$	558				$	558

			Fair Value Measurements at
			December 31, 2013 Using:
	Carrying Value			Quoted Prices In Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
(In thousands)
Impaired loans	$	1,329				$	1,329
Other real estate owned	2,242					2,242

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

			Fair Value Measurement at
			December 31, 2014 Using:
(In thousands)	Carrying Amount			Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Financial Assets:
Cash and due from banks	$	45,109		$	45,109	$	—	$	—	$	45,109
Interest bearing deposits with banks	6,621			—		6,621		—		6,621
Securities available for sale	587,184			—		587,184		—		587,184
Securities restricted	10,037			n/a		n/a		n/a		n/a
Securities held to maturity	214,927			—		216,289		—		216,289
Loans, net	1,320,690			—		—		1,317,625		1,317,625
Accrued interest receivable	6,425			—		2,721		3,704		6,425
Financial Liabilities:
Certificates of deposit	141,362			—		142,264		—		142,264
Demand and other deposits	1,692,417			1,692,417		—		—		1,692,417
Federal funds purchased	75,000			75,000		—		—		75,000
Federal Home Loan Bank advances	138,327			98,070		40,165		—		138,235
Repurchase agreements	36,263			—		36,991		—		36,991
Junior Subordinated Debentures	16,002			—		—		16,528		16,528
Derivatives	943			—		943		—		943
Accrued interest payable	308			77		231		—		308

			Fair Value Measurement at
			December 31, 2013 Using:
(In thousands)	Carrying Amount			Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Financial Assets:
Cash and due from banks	$	39,997		$	39,997	$	—	$	—	$	39,997
Interest bearing deposits with banks	5,576			—		5,576		—		5,576
Securities available for sale	575,179			—		575,179		—		575,179
Securities restricted	7,034			n/a		n/a		n/a		n/a
Securities held to maturity	201,328			—		197,338		—		197,338
Loans, net	997,262			—		—		1,002,314		1,002,314
Accrued interest receivable	5,648			—		2,747		2,901		5,648
Financial Liabilities:
Certificates of deposit	100,895			—		101,509		—		101,509
Demand and other deposits	1,438,184			1,438,184		—		—		1,438,184
Federal funds purchased	64,000			64,000		—		—		64,000
Federal Home Loan Bank advances	98,000			57,994		40,060		—		98,054
Repurchase agreements	11,370			—		11,803		—		11,803
Junior Subordinated Debentures	16,002			—		—		15,215		15,215
Derivatives	164			—		164		—		164
Accrued interest payable	225			76		149		—		225