Fair Value Of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Of Financial Instruments [Abstract]

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The table below presents the balance of financial assets and liabilities at September 30, 2014 measured at fair value on a recurring basis:

				Fair Value Measurements at Reporting Date Using
				Quoted Prices in		Significant
				Active Markets		Other		Significant
				for Identical		Observable		Unobservable
				Assets		Inputs		Inputs
(In thousands)		Total		(Level 1)		(Level 2)		(Level 3)
Assets
U.S. Treasury Obligations	$	20,017	$	-	$	20,017	$	-
Agency MBSs		89,267		-		89,267		-
Agency CMBSs		17,460		-		17,460		-
Agency CMOs		58,917		-		58,917		-
ABSs		388		-		388		-
Interest rate swap agreements		381		-		381		-
Total assets	$	186,430	$	-	$	186,430	$	-
Liabilities
Interest rate swap agreements		906		-		906		-
Total liabilities	$	906	$	-	$	906	$	-

The table below presents the balance of financial assets and liabilities at December 31, 2013 measured at fair value on a recurring basis:

				Fair Value Measurements at Reporting Date Using
				Quoted Prices in		Significant
				Active Markets		Other		Significant
				for Identical		Observable		Unobservable
				Assets		Inputs		Inputs
(In thousands)		Total		(Level 1)		(Level 2)		(Level 3)
Assets
U.S. Treasury Obligations	$	100	$	-	$	100	$	-
Agency MBSs		99,271		-		99,271		-
Agency CMBSs		17,638		-		17,638		-
Agency CMOs		97,209		-		97,209		-
CLOs		37,907		-		37,907		-
ABSs		388		-		388		-
Interest rate swap agreements		803		-		803		-
Total assets	$	253,316	$	-	$	253,316	$	-
Liabilities
Interest rate swap agreements		1,529		-		1,529		-
Total liabilities	$	1,529	$	-	$	1,529	$	-

Financial Instruments Measured At Fair Value

The table below presents the balance of financial instruments by class at September 30, 2014 measured at fair value:

		Carrying
(In thousands)		Amount		Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents	$	119,657	$	119,657	$	119,657	$	-	$	-
Securities available for sale		186,049		186,049		-		186,049		-
Securities held to maturity		142,110		140,411		-		140,411		-
FHLB stock		4,378		N/A		N/A		N/A		N/A
Loans, net of allowance for loan losses		1,144,644		1,143,582		-		-		1,143,582
Interest rate contract-cash flow hedge		381		381		-		381		-
Accrued interest receivable		3,309		3,309		-		806		2,503
Total assets	$	1,600,528	$	1,593,389	$	119,657	$	327,647	$	1,146,085
Deposits	$	1,304,081	$	1,304,361	$	1,070,105	$	234,256	$	-
Securities sold under agreement to repurchase		188,157		188,140		-		188,140		-
Other long-term debt		2,341		2,275		-		2,275		-
Junior subordinated debentures issued to unconsolidated subsidiary trust		20,619		14,259		-		14,259		-
Interest rate contract-cash flow hedge		906		906		-		906		-
Accrued interest payable		171		171		15		156		-
Total liabilities	$	1,516,275	$	1,510,112	$	1,070,120	$	439,992	$	-

The table below presents the balance of financial instruments by class at December 31, 2013 measured at fair value:

		Carrying
(In thousands)		Amount		Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents	$	115,471	$	115,471	$	115,471	$	-	$	-
Securities available for sale		252,513		252,513		-		252,513		-
Securities held to maturity		140,826		137,087		-		137,087		-
FHLB stock		7,496		N/A		N/A		N/A		N/A
Loans, net of allowance for loan losses		1,154,191		1,155,348		-		-		1,155,348
Interest rate swap agreement		803		803		-		803		-
Accrued interest receivable		3,982		3,982		-		958		3,024
Total assets	$	1,675,282	$	1,665,204	$	115,471	$	391,361	$	1,158,372
Deposits	$	1,323,576	$	1,324,634	$	1,018,470	$	306,162	$	-
Securities sold under agreement to repurchase		250,314		250,290		-		250,290		-
Other long-term debt		2,403		2,287		-		2,287		-
Junior subordinated debentures issued to unconsolidated subsidiary trust		20,619		14,189		-		14,189		-
Interest rate swap agreement		1,529		1,529		-		1,529		-
Accrued interest payable		214		214		15		199		-
Total liabilities	$	1,598,655	$	1,593,143	$	1,018,485	$	574,656	$	-