ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2015

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of assets and liabilities measured on a recurring basis

				Fair Value Measurements at
				September 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	$	67,942			$	67,942
State and municipal obligations		87,097				87,097
U.S. GSE residential mortgage-backed securities		155,516				155,516
U.S. GSE residential collateralized mortgage obligations		234,996				234,996
U.S. GSE commercial mortgage-backed securities		12,706				12,706
U.S. GSE commercial collateralized mortgage obligations		29,237				29,237
Other asset backed securities		22,310				22,310
Corporate bonds		27,666				27,666
Total available for sale	$	637,470			$	637,470
Financial Liabilities:
Derivatives	$	(1,993	)		$	(1,993	)

				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
			September 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)
Impaired loans	$	508			$	508

			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)
Impaired loans	$	558			$	558

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

			Fair Value Measurements at
			September 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	$	60,919	$	60,919	$	—	$	—	$	60,919
Interest bearing deposits with banks		44,962		—		44,962		—		44,962
Securities available for sale		637,470		—		637,470		—		637,470
Securities restricted		14,969		n/a		n/a		n/a		n/a
Securities held to maturity		220,223		—		224,287		—		224,287
Loans, net		2,281,130		—		—		2,289,612		2,289,612
Accrued interest receivable		9,025		—		3,106		5,919		9,025
Financial liabilities:
Certificates of deposit		309,814				311,588		—		311,588
Demand and other deposits		2,595,687		2,595,687		—		—		2,595,687
Federal Home Loan Bank term advances		112,842				115,084		—		115,084
Repurchase agreements		26,573		—		26,941		—		26,941
Subordinated Debentures		78,338		—				80,065		80,065
Junior Subordinated Debentures		15,876		—		—		16,977		16,977
Derivatives		1,993		—		1,993		—		1,993
Accrued interest payable		483		93		390		—		483

			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