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Note 11 - Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value, Measurements, Nonrecurring [Member]

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	June 30, 2016

	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(Dollars in thousands)
Assets:

Impaired loans	$	3,231	Income approach	Capitalization rate		6.3%	to	7.7%		7.2	%
				Reduction for planned expedited disposal		9.3%	to	15.0%		14.3	%

Impaired loans	$	4,433	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	16.2%		-3.9	%
				Reduction for planned expedited disposal			15.0%			15.0	%


Impaired loans	$	5,717	Blended income and sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%		-2.5	%
				Capitalization rate		5.6%	to	9.0%		7.3	%
				Reduction for planned expedited disposal		6.9%	to	15.0%		13.9	%


Other real estate owned	$	2,905	Income approach	Capitalization rate			9.0%			9.0	%


Other real estate owned	$	763	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-5.0%	to	25.0%		11.0	%

	December 31, 2015

	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(Dollars in thousands)
Assets:

Impaired loans	$	3,878	Income approach	Capitalization rate		7.3%	to	8.5%		7.7	%
				Loss severity discount			15.0%			15.0	%

Impaired loans	$	5,555	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	40.0%		-2.2	%
				Loss severity discount			15.0%			15.0	%


Impaired loans	$	5,927	Blended income and sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-50.0%	to	25.0%		-2.2	%
				Capitalization rate		5.3%	to	9.0%		7.0	%
				Loss severity discount		5.2%	to	15.0%		13.7	%


Other real estate owned	$	3,750	Income approach	Capitalization rate			9.0%			9.0	%


Other real estate owned	$	366	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-5.0%	to	25.0%		12.0	%


Other real estate owned	$	816	Blended income and sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		-10.0%	to	15.0%		2.5	%
				Capitalization rate			8.6%			8.6	%

Fair Value, Option, Quantitative Disclosures [Table Text Block]

	Fair Value		Fair Value		Changes in Fair Values For Items Measured at Fair Value
	Measurements		Measurements		Pursuant to Election of the Fair Value Option
	at June 30,		at December 31,		Three Months Ended						Six Months Ended
(Dollars in thousands)	2016		2015		June 30, 2016			June 30, 2015			June 30, 2016		June 30, 2015

Mortgage-backed securities	$	2,292	$	2,527	$	(3	)	$	(28	)	$	2	$	(36	)
Other securities		28,514		28,205		90			(108	)		186		89
Borrowed funds		27,485		29,018		492			(1,229	)		1,546		(705	)
Net gain (loss) from fair value adjustments (1) (2)					$	579		$	(1,365	)	$	1,734	$	(652	)

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total carried at fair value on a recurring basis
	2016		2015		2016		2015		2016		2015		2016		2015
	(In thousands)

Assets:
Mortgage-backed Securities	$	-	$	-	$	580,500	$	668,740	$	-	$	-	$	580,500	$	668,740
Other securities		-		-		361,444		317,445		7,167		7,212		368,611		324,657
Interest rate swaps		-		-		-		48		-		-		-		48

Total assets	$	-	$	-	$	941,944	$	986,233	$	7,167	$	7,212	$	949,111	$	993,445

Liabilities:
Borrowings	$	-	$	-	$	-	$	-	$	27,485	$	29,018	$	27,485	$	29,018
Interest rate swaps		-		-		16,201		4,314		-		-		16,201		4,314

Total liabilities	$	-	$	-	$	16,201	$	4,314	$	27,485	$	29,018	$	43,686	$	33,332

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	For the three months ended June 30, 2016
	Trust preferred securities		Junior subordinated debentures
	(In thousands)

Beginning balance	$	7,150	$	27,977
Net gain from fair value adjustment of financial assets (1)		15		-
Net gain from fair value adjustment of financial liabilities (1)		-		(491	)
Decrease in accrued interest payable		-		(1	)
Change in unrealized gains included in other comprehensive income		2		-
Ending balance	$	7,167	$	27,485

Changes in unrealized gains held at period end	$	2	$	-

	For the three months ended June 30, 2015
	Municipals			Trust preferred securities		Junior subordinated debentures
	(In thousands)

Beginning balance	$	14,464		$	7,189	$	28,245
Transfer to held-to-maturity		(4,510	)		-		-
Principal repayments		(55	)		-		-
Maturities		(2,000	)		-		-
Net gain from fair value adjustment of financial assets included in earnings (1)		-			37		-
Net loss from fair value adjustment of financial liabilities included in earnings (1)		-			-		1,229
Increase in accrued interest payable		-			-		2
Change in unrealized gains included in other comprehensive income		-			-		-
Ending balance	$	7,899		$	7,226	$	29,476

Changes in unrealized gains (losses) held at period end	$	-		$	-	$	-

	For the six months ended June 30, 2016
	Trust preferred securities			Junior subordinated debentures

Beginning balance	$	7,212		$	29,018
Net loss from fair value adjustment of financial assets included in earnings (1)		(45	)		-
Net gain from fair value adjustment of financial liabilities included in earnings (1)		-			(1,547	)
Increase in accrued interest payable		-			14
Change in unrealized gains (losses) included in other comprehensive income		-			-
Ending balance	$	7,167		$	27,485

Changes in unrealized gains (losses) held at period end	$	-		$	-

	For the six months ended June 30, 2015
	Municipals			Trust preferred securities		Junior subordinated debentures
	(In thousands)

Beginning balance	$	15,519		$	7,090	$	28,771
Transfer to held-to-maturity		(4,510	)		-		-
Purchases		1,000			-		-
Principal repayments		(110	)		-		-
Maturities		(4,000	)		-		-
Net gain from fair value adjustment of financial assets included in earnings (1)		-			131		-
Net loss from fair value adjustment of financial liabilities included in earnings (1)		-			-		705
Decrease in accrued interest payable		-			-		-
Change in unrealized gains (losses) included in other comprehensive income		-			5		-
Ending balance	$	7,899		$	7,226	$	29,476

Changes in unrealized gains held at period end	$	-		$	5	$	-

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	June 30, 2016

	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(Dollars in thousands)
Assets:

Trust preferred securities	$	7,167	Discounted cash flows	Discount rate		7.0%	-	7.07%		7.1	%

Liabilities:

Junior subordinated debentures	$	27,485	Discounted cash flows	Discount rate			7.0%			7.0	%

	December 31, 2015

	Fair Value		Valuation Technique	Unobservable Input	Range				Weighted Average
	(Dollars in thousands)
Assets:

Trust preferred securities	$	7,212	Discounted cash flows	Discount rate		7.0%	-	7.07%		7.1	%

Liabilities:

Junior subordinated debentures	$	29,018	Discounted cash flows	Discount rate			7.0%			7.0	%

Fair Value Measurements, Nonrecurring [Table Text Block]

	Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total carried at fair value on a recurring basis
	2016		2015		2016		2015		2016		2015		2016		2015
	(In thousands)
Assets:
Impaired loans	$	-	$	-	$	-	$	-	$	13,381	$	15,360	$	13,381	$	15,360
Other real estate owned		-		-		-		-		3,668		4,932		3,668		4,932

Total assets	$	-	$	-	$	-	$	-	$	17,049	$	20,292	$	17,049	$	20,292

Fair Value, by Balance Sheet Grouping [Table Text Block]

	June 30, 2016
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(In thousands)
Assets:

Cash and due from banks	$	50,165	$	50,165	$	50,165	$	-	$	-
Securities held-to-maturity
Other securities		28,410		28,410		-		-		28,410
Securities available for sale
Mortgage-backed securities		580,500		580,500		-		580,500		-
Other securities		368,611		368,611		-		361,444		7,167
Loans		4,696,279		4,740,014		-		-		4,740,014
FHLB-NY stock		67,195		67,195		-		67,195		-

Total assets	$	5,791,160	$	5,834,895	$	50,165	$	1,009,139	$	4,775,591


Liabilities:
Deposits	$	3,941,224	$	3,962,871	$	2,529,674	$	1,433,197	$	-
Borrowings		1,444,751		1,458,537		-		1,431,052		27,485
Interest rate swaps		16,201		16,201		-		16,201		-

Total liabilities	$	5,402,176	$	5,437,609	$	2,529,674	$	2,880,450	$	27,485

	December 31, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(In thousands)
Assets:

Cash and due from banks	$	42,363	$	42,363	$	42,363	$	-	$	-
Securities held-to-maturity
Other securities		6,180		6,180		-		-		6,180
Securities available for sale
Mortgage-backed securities		668,740		668,740		-		668,740		-
Other securities		324,657		324,657		-		317,445		7,212
Loans		4,387,979		4,434,079		-		-		4,434,079
FHLB-NY stock		56,066		56,066		-		56,066		-
Interest rate swaps		48		48		-		48		-

Total assets	$	5,486,033	$	5,532,133	$	42,363	$	1,042,299	$	4,447,471


Liabilities:
Deposits	$	3,892,547	$	3,902,888	$	2,489,245	$	1,413,643	$	-
Borrowings		1,271,676		1,279,946		-		1,250,928		29,018
Interest rate swaps		4,314		4,314		-		4,314		-

Total liabilities	$	5,168,537	$	5,187,148	$	2,489,245	$	2,668,885	$	29,018

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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