ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2015

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of assets and liabilities measured on a recurring basis

				Fair Value Measurements at
				June 30, 2015 Using:
					Significant
				Quoted Prices In	Other			Significant
				Active Markets for	Observable			Unobservable
	Carrying			Identical Assets	Inputs			Inputs
(In thousands)	Value			(Level 1)	(Level 2)			(Level 3)
Financial Assets:
Available for sale securities:
U.S. GSE securities	$	67,236			$	67,236
State and municipal obligations		72,347				72,347
U.S. GSE residential mortgage-backed securities		162,004				162,004
U.S. GSE residential collateralized mortgage obligations		233,717				233,717
U.S. GSE commercial mortgage-backed securities		12,579				12,579
U.S. GSE commercial collateralized mortgage obligations		30,914				30,914
Other Asset backed securities		23,037				23,037
Corporate Bonds		17,638				17,638
Total available for sale	$	619,472			$	619,472
Financial Liabilities:
Derivatives	$	(1,332	)		$	(1,332	)

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

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

			Fair Value Measurements at
			June 30, 2014 Using:
				Significant
			Quoted Prices In	Other	Significant
			Active Markets for	Observable	Unobservable
	Carrying		Identical Assets	Inputs	Inputs
(In thousands)	Value		(Level 1)	(Level 2)	(Level 3)
Impaired loans	$	354			$	354

			Fair Value Measurements at
			December 31, 2013 Using:
				Significant
			Quoted Prices In	Other	Significant
			Active Markets for	Observable	Unobservable
	Carrying		Identical Assets	Inputs	Inputs
(In thousands)	Value		(Level 1)	(Level 2)	(Level 3)
Impaired loans	$	558			$	558

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

			Fair Value Measurements at
			June 30, 2015 Using:
					Significant
			Quoted Prices In		Other		Significant
			Active Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
(In thousands)	Amount		(Level 1)		(Level 2)		(Level 3)		Total
Financial assets:
Cash and due from banks	$	56,966	$	56,966	$	-	$	-	$	56,966
Interest bearing deposits with banks		19,229		-		19,229		-		19,229
Securities available for sale		619,472		-		619,472		-		619,472
Securities restricted		15,079		n/a		n/a		n/a		n/a
Securities held to maturity		221,756		-		223,148		-		223,148
Loans, net		2,246,458		-		-		2,237,911		2,237,911
Accrued interest receivable		8,582		-		2,662		5,920		8,582
Financial liabilities:
Certificates of deposit		334,608				336,410		-		336,410
Demand and other deposits		2,448,972		2,448,972		-		-		2,448,972
Federal funds purchased		70,000		70,000		-		-		70,000
Federal Home Loan Bank term advances		175,175		61,993		115,103		-		177,096
Repurchase agreements		26,573		-		27,001		-		27,001
Junior Subordinated Debentures		16,002		-		-		16,250		16,250
Derivatives		1,332		-		1,332		-		1,332
Accrued interest payable		365		93		272		-		365

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