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MORTGAGE OPERATIONS (Tables)
 9 Months Ended
Sep. 30, 2014
MORTGAGE OPERATIONS [Abstract]  
Schedule of assumptions used to estimate fair value of mortgage servicing rights
Key assumptions used in measuring the fair value of mortgage servicing rights as of September 30, 2014 and December 31, 2013 were as follows:

  
September 30, 2014
  
December 31, 2013
 
     
Constant prepayment rate
  
11.36
%
  
9.09
%
Discount rate
  
10.05
%
  
10.05
%
Weighted average life (years)
  
6.49
   
7.05
 
Schedule of mortgage servicing rights assets
The following table summarizes the Company’s mortgage servicing rights assets as of September 30, 2014 and December 31, 2013.  Mortgage servicing rights are included in Interest Receivable and Other Assets on the condensed consolidated balance sheets:

  
(in thousands)
 
  
December 31, 2013
  
Additions
  
Reductions
  
September 30, 2014
 
         
Mortgage servicing rights
 
$
1,968
  
$
170
  
$ 
(260
)
 
$
1,878
 
Valuation allowance
  
—
   
—
   
—
   
—
 
Mortgage servicing rights, net of valuation allowance
 
$
1,968
  
$
170
  
$ 
(260
)
 
$
1,878