Note 11 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Fair Value Option, 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 September 30,		at December 31,		Three Months Ended						Nine Months Ended
(In thousands)	2019		2018		September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Mortgage-backed securities	$	812	$	967	$	-		$	(6	)	$	2		$	(17	)
Other securities		13,524		12,843		107			(72	)		470			(272	)
Borrowed funds		43,910		41,849		(599	)		(607	)		(2,353	)		(3,155	)
Net loss from fair value adjustments (1)(2)					$	(492	)	$	(685	)	$	(1,881	)	$	(3,444	)

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

	Quoted Prices
	in Active Markets				Significant Other				Significant Other
	for Identical Assets				Observable Inputs				Unobservable Inputs				Total carried at fair value
	(Level 1)				(Level 2)				(Level 3)				on a recurring basis
	2019		2018		2019		2018		2019		2018		2019		2018
	(In thousands)
Assets:
Mortgage-backed Securities	$	-	$	-	$	579,010	$	557,953	$	-	$	-	$	579,010	$	557,953
Other securities		12,206		11,586		232,941		251,860		1,318		1,256		246,465		264,702
Interest rate swaps		-		-		156		15,961		-		-		156		15,961
Total assets	$	12,206	$	11,586	$	812,107	$	825,774	$	1,318	$	1,256	$	825,631	$	838,616
Liabilities:
Borrowings	$	-	$	-	$	-	$	-	$	43,910	$	41,849	$	43,910	$	41,849
Interest rate swaps		-		-		30,988		2,239		-		-		30,988		2,239
Total liabilities	$	-	$	-	$	30,988	$	2,239	$	43,910	$	41,849	$	74,898	$	44,088

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

	For the three months ended
	September 30, 2019					September 30, 2018
	Trust preferred		Junior subordinated			Trust preferred		Junior subordinated
	securities		debentures			securities		debentures
	(In thousands)
Beginning balance	$	1,303	$	43,414		$	1,188	$	39,566
Net gain from fair value adjustment of financial assets (1)		15		-			17		-
Net loss from fair value adjustment of financial liabilities (1)		-		599			-		607
Decrease in accrued interest payable		-		(15	)		-		(9	)
Change in unrealized gains included in other comprehensive income		-		(88	)		-		(13	)
Ending balance	$	1,318	$	43,910		$	1,205	$	40,151
Changes in unrealized gains held at period end	$	-	$	1,513		$	-	$	1,164

	For the nine months ended
	September 30, 2019						September 30, 2018
	Trust preferred			Junior subordinated			Trust preferred		Junior subordinated
	securities			debentures			securities		debentures
	(In thousands)
Beginning balance	$	1,256		$	41,849		$	1,110	$	36,986
Net gain from fair value adjustment of financial assets (1)		64			-			94		-
Net loss from fair value adjustment of financial liabilities (1)		-			2,353			-		3,155
Increase in accrued interest receivable		-			-			1		-
Decrease (increase) in accrued interest payable		(2	)		(27	)		-		42
Change in unrealized gains included in other comprehensive income		-			(265	)		-		(32	)
Ending balance	$	1,318		$	43,910		$	1,205	$	40,151
Changes in unrealized gains held at period end	$	-		$	1,513		$	-	$	1,164

Fair Value Measurements, Nonrecurring [Table Text Block]

	Quoted Prices
	in Active Markets				Significant Other				Significant Other
	for Identical Assets				Observable Inputs				Unobservable Inputs				Total carried at fair value
	(Level 1)				(Level 2)				(Level 3)				on a non-recurring basis
	2019		2018		2019		2018		2019		2018		2019		2018
	(In thousands)
Assets
Impaired loans	$	-	$	-	$	-	$	-	$	778	$	4,111	$	778	$	4,111
Other repossesed assets		-		-		-		-		239		35		239		35
Total assets	$	-	$	-	$	-	$	-	$	1,017	$	4,146	$	1,017	$	4,146

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

	September 30, 2019
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Cash and due from banks	$	86,989	$	86,989	$	86,989	$	-	$	-
Securities held-to-maturity
Mortgage-backed securities		7,939		8,372		-		8,372		-
Other securities		52,101		55,498		-		-		55,498
Securities available for sale
Mortgage-backed securities		579,010		579,010		-		579,010		-
Other securities		246,465		246,465		12,206		232,941		1,318
Loans		5,765,763		5,809,209		-		-		5,809,209
FHLB-NY stock		65,280		65,280		-		65,280		-
Accrued interest receivable		26,566		26,566		12		2,767		23,787
Interest rate swaps		156		156		-		156		-
Liabilities:
Deposits	$	4,974,312	$	4,979,324	$	3,467,936	$	1,511,388	$	-
Borrowings		1,422,440		1,628,483		-		1,584,573		43,910
Accrued interest payable		8,284		8,284		-		8,284		-
Interest rate swaps		30,988		30,988		-		30,988		-

	December 31, 2018
	Carrying		Fair
	Amount		Value		Level 1		Level 2		Level 3
	(In thousands)
Assets:
Cash and due from banks	$	118,561	$	118,561	$	118,561	$	-	$	-
Securities held-to-maturity
Mortgage-backed securities		7,953		7,366		-		7,366		-
Other securities		24,065		22,508		-		-		22,508
Securities available for sale
Mortgage-backed securities		557,953		557,953		-		557,953		-
Other securities		264,702		264,702		11,586		251,860		1,256
Loans		5,551,484		5,496,266		-		-		5,496,266
FHLB-NY stock		57,282		57,282		-		57,282		-
Accrued interest receivable		25,485		25,485		54		2,756		22,675
Interest rate swaps		15,961		15,961		-		15,961		-
Liabilities:
Deposits	$	4,960,784	$	4,955,077	$	3,397,474	$	1,557,603	$	-
Borrowings		1,250,843		1,241,745		-		1,199,896		41,849
Accrued interest payable		5,890		5,890		-		5,890		-
Interest rate swaps		2,239		2,239		-		2,239		-

Fair Value, Nonrecurring [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	September 30, 2019
	Fair Value		Valuation Technique	Unobservable Input	Range			Weighted Average
	(Dollars in thousands)
Assets:
Impaired loans	$	149	Sales approach	Reduction for planned expedited disposal		15.0%		15.0%
Impaired loans	$	629	Blended income and sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales	-15.0%	to	15.0%	-3.7%
				Capitalization rate	9.0%	to	9.5%	9.2%
				Reduction for planned expedited disposal		15.0%		15.0%
Other real estate owned	$	239	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales	0.5%	to	12.5%	6.5%

	At December 31, 2018
	Fair Value		Valuation Technique	Unobservable Input	Range			Weighted Average
	(Dollars in thousands)
Assets:
Impaired loans	$	204	Income approach	Capitalization rate		8.5%		8.5%
				Reduction for planned expedited disposal		15.0%		15.0%
Impaired loans	$	2,724	Sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales		0.0%		0.0%
				Reduction for planned expedited disposal	-36.5%	to	15.0%	10.4%
Impaired loans	$	1,183	Blended income and sales approach	Adjustment to sales comparison value to reconcile differences between comparable sales	-30.0%	to	10.0%	-7.8%
				Capitalization rate	7.4%	to	9.8%	8.7%
				Reduction for planned expedited disposal		15.0%		15.0%
Other repossesed assets	$	35	Sales approach	Reduction for planned expediated disposal		0.0%		0.0%

Fair Value, Recurring [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	September 30, 2019
	Fair Value		Valuation Technique	Unobservable Input	Range		Weighted Average
	(Dollars in thousands)
Assets:
Trust preferred securities	$	1,318	Discounted cash flows	Discount rate		n/a		4.2	%
Liabilities:
Junior subordinated debentures	$	43,910	Discounted cash flows	Discount rate		n/a		4.2	%

	December 31, 2018
	Fair Value		Valuation Technique	Unobservable Input	Range		Weighted Average
	(Dollars in thousands)
Assets:
Trust preferred securities	$	1,256	Discounted cash flows	Discount rate		n/a		4.9	%
Liabilities:
Junior subordinated debentures	$	41,849	Discounted cash flows	Discount rate		n/a		4.9	%