Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below: 

	Level 1		Level 2		Level 3		Total Fair Value
	(In thousands)
March 31, 2018
Assets
Equity securities, at fair value	$	9,651	$	—	$	—	$	9,651
Derivative assets:
Interest rate swap agreements	—		13,350		—		13,350
Forward loan sale commitments-best efforts	—		—		30		30
Mortgage loan commitments-best efforts	—		—		206		206
Mortgage loan commitments-mandatory delivery	—		—		171		171
Total assets	$	9,651	$	13,350	$	407	$	23,408
Liabilities
Derivative liabilities:
Interest rate swap agreements	$	—	$	13,338	$	—	$	13,338
Forward loan sale commitments best efforts	—		—		66		66
Forward loan sale commitments mandatory delivery	—		—		55		55
Mortgage loan commitments best efforts	—		—		16		16
Total liabilities	$	—	$	13,338	$	137	$	13,475
December 31, 2017
Assets
Securities available for sale:
Marketable equity securities	9,720		—		—		9,720
Derivative assets:
Interest rate swap agreements	—		8,766		—		8,766
Forward loan sale commitments-best efforts	—		—		22		22
Mortgage loan commitments-best efforts	—		—		210		210
Total assets	$	9,720	$	8,766	$	232	$	18,718
Liabilities
Derivative liabilities:
Interest rate swap agreements	$	—	$	8,785	$	—	$	8,785
Forward loan sale commitments-best efforts	—		—		69		69
Mortgage loan commitments-best efforts	—		—		36		36
Total liabilities	$	—	$	8,785	$	105	$	8,890

Fair Value Measurements, Nonrecurring

The following table summarizes the fair value hierarchy applicable to assets measured at fair value on a non-recurring basis:

	March 31, 2018						December 31, 2017
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
	(In thousands)
Impaired loans	$	—	$	—	$	2,108	$	—	$	—	$	2,214

The following table summarizes the total gains (losses) on assets measured at fair value on a non-recurring basis for thethreemonths endedMarch 31, 2018and2017.

	Three Months Ended March 31,
	2018			2017
	(In thousands)
Impaired loans	$	(194	)	$	77

Fair Value, by Balance Sheet Grouping

The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows. Certain financial instruments and all nonfinancial instruments are exempt from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein do not represent the underlying fair value of the Company. 

	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
March 31, 2018
Financial assets:
Cash and cash equivalents	$	45,072	$	45,072	$	—	$	—	$	45,072
Equity securities at fair value	9,651		9,651		—		—		9,651
Securities held to maturity	304,036		—		295,472		—		295,472
Federal Home Loan Bank stock	10,730		—		—		10,730		10,730
Loans and loans held for sale, net	2,190,155		—		—		2,165,575		2,165,575
Accrued interest receivable	6,120		—		—		6,120		6,120
Financial liabilities:									—
Deposits	2,077,838		—		—		2,071,733		2,071,733
Borrowings	170,000		—		168,656		—		168,656
On-balance sheet derivative financial instruments:
Derivative assets:
Interest rate swap agreements	13,350		—		13,350		—		13,350
Forward loan sale commitments-best efforts	30		—		—		30		30
Mortgage loan commitments-best efforts	206		—		—		206		206
Mortgage loan commitments-mandatory delivery	171						171		171
Derivative liabilities:
Interest rate swap agreements	13,338		—		13,338		—		13,338
Forward loan sale commitments-best efforts	66		—		—		66		66
Forward loan sale commitments-mandatory delivery	55		—		—		55		55
Mortgage loan commitments-best efforts	16		—		—		16		16

	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3		Total
	(In thousands)
December 31, 2017
Financial assets:
Cash and cash equivalents	$	46,167	$	46,167	$	—	$	—	$	46,167
Securities available for sale	9,720		9,720		—		—		9,720
Securities held to maturity	303,716		—		299,114		—		299,114
Federal Home Loan Bank stock	12,105		—		—		12,105		12,105
Loans and loans held for sale	2,195,139		—		—		2,174,871		2,174,871
Accrued interest receivable	6,438		—		—		6,438		6,438
Financial liabilities:
Deposits	2,039,869		—		—		2,036,150		2,036,150
Borrowings	205,000		—		203,913		—		203,913
On-balance sheet derivative financial instruments:
Derivative assets:
Interest rate swap agreements	8,766		—		8,766		—		8,766
Forward loan sale commitments-best efforts	22		—		—		22		22
Mortgage loan commitments-best efforts	210		—		—		210		210
Derivative liabilities:
Interest rate swap agreements	8,785		—		8,785		—		8,785
Forward loan sale commitments-best efforts	69		—		—		69		69
Mortgage loan commitments-best efforts	36		—		—		36		36