Fair Value Of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

The table below presents the balance of financial assets and liabilities at March 31, 2015 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	$ 25,322	$ -	$ 25,322	$ -
FHLB Obligations	10,134		10,134
Agency MBSs	116,347	-	116,347	-
Agency CMBSs	24,856	-	24,856	-
Agency CMOs	71,944	-	71,944	-
ABSs	384	-	384	-
Interest rate swap agreements	936	-	936	-
Total assets	$ 249,923	$ -	$ 249,923	$ -
Liabilities
Interest rate swap agreements	1,383	-	1,383	-
Total liabilities	$ 1,383	$ -	$ 1,383	$ -

The table below presents the balance of financial assets and liabilities at December 31, 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	$ 25,093	$ -	$ 25,093	$ -
Agency MBSs	95,407	-	95,407	-
Agency CMBSs	21,704	-	21,704	-
Agency CMOs	60,882	-	60,882	-
ABSs	387	-	387	-
Interest rate swap agreements	618	-	618	-
Total assets	$ 204,091	$ -	$ 204,091	$ -
Liabilities
Interest rate swap agreements	1,096	-	1,096	-
Total liabilities	$ 1,096	$ -	$ 1,096	$ -

The table below presents the balance of financial instruments by class at March 31, 2015 measured at fair value:


	Carrying
(In thousands)	Amount	Fair Value	Level 1	Level 2	Level 3
Cash and cash equivalents	$ 67,919	$ 67,919	$ 67,919	$ -	$ -
Securities available for sale	248,987	248,987	-	248,987	-
Securities held to maturity	134,245	136,237	-	136,237	-
FHLB stock	4,378	N/A	N/A	N/A	N/A
Loans, net of allowance for loan losses	1,188,181	1,192,612	-	-	1,192,612
Interest rate swap agreement	936	936	-	936	-
Accrued interest receivable	4,147	4,147	4	932	3,211
Total assets	$ 1,648,793	$ 1,650,838	$ 67,923	$ 387,092	$ 1,195,823
Deposits	$ 1,329,797	$ 1,330,130	$ 1,125,364	$ 204,766	$ -
Securities sold under agreement to repurchase	206,386	206,364	-	206,364	-
Other long-term debt	2,300	2,284	-	2,284	-
Junior subordinated debentures issued to unconsolidated subsidiary trust	20,619	14,677	-	14,677	-
Interest rate swap agreement	1,383	1,383	-	1,383	-
Accrued interest payable	156	156	18	138	-
Total liabilities	$ 1,560,641	$ 1,554,994	$ 1,125,382	$ 429,612	$ -

The table below presents the balance of financial instruments by class at December 31, 2014 measured at fair value:


	Carrying
(In thousands)	Amount	Fair Value	Level 1	Level 2	Level 3
Cash and cash equivalents	$ 154,459	$ 154,459	$ 154,459	$ -	$ -
Securities available for sale	203,473	203,473	-	203,473	-
Securities held to maturity	138,421	139,171	-	139,171	-
FHLB stock	4,378	N/A	N/A	N/A	N/A
Loans, net of allowance for loan losses	1,170,501	1,172,517	-	-	1,172,517
Interest rate swap agreement	618	618	-	618	-
Accrued interest receivable	3,787	3,787	-	847	2,940
Total assets	$ 1,675,637	$ 1,674,025	$ 154,459	$ 344,109	$ 1,175,457
Deposits	$ 1,308,772	$ 1,308,904	$ 1,097,088	$ 211,816	$ -
Securities sold under agreement to repurchase	258,464	258,438	-	258,438	-
Other long-term debt	2,320	2,277	-	2,277	-
Junior subordinated debentures issued to unconsolidated subsidiary trust	20,619	14,476	-	14,476	-
Interest rate swap agreement	1,096	1,096	-	1,096	-
Accrued interest payable	165	165	19	146	-
Total liabilities	$ 1,591,436	$ 1,585,356	$ 1,097,107	$ 488,249	$ -