Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2015

The table below presents the balance of financial assets and liabilities at June 30, 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	$ 25,248	$ -	$ 25,248	$ -
FHLB Obligations	34,077		34,077
Agency MBSs	108,891	-	108,891	-
Agency CMBSs	23,651	-	23,651	-
Agency CMOs	67,318	-	67,318	-
ABSs	371	-	371	-
Interest rate swap agreements	717	-	717	-
Total assets	$ 260,273	$ -	$ 260,273	$ -
Liabilities
Interest rate swap agreements	942	-	942	-
Total liabilities	$ 942	$ -	$ 942	$ -

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 June 30, 2015 measured at fair value:


	Carrying
(In thousands)	Amount	Fair Value	Level 1	Level 2	Level 3
Cash and cash equivalents	$ 40,645	$ 40,645	$ 40,645	$ -	$ -
Securities available for sale	259,556	259,556	-	259,556	-
Securities held to maturity	129,312	129,872	-	129,872	-
FHLB stock	4,378	N/A	N/A	N/A	N/A
Loans, net of allowance for loan losses	1,191,493	1,191,765	-	-	1,191,765
Interest rate swap agreement	717	717	-	717	-
Accrued interest receivable	3,135	3,135	-	909	2,226
Total assets	$ 1,629,236	$ 1,625,690	$ 40,645	$ 391,054	$ 1,193,991
Deposits	$ 1,346,825	$ 1,346,874	$ 1,147,693	$ 199,181	$ -
Securities sold under agreement to repurchase	169,959	169,940	-	169,940	-
Other long-term debt	2,279	2,227	-	2,227	-
Junior subordinated debentures issued to unconsolidated subsidiary trust	20,619	14,405	-	14,405	-
Interest rate swap agreement	942	942	-	942	-
Accrued interest payable	111	111	15	96	-
Total liabilities	$ 1,540,735	$ 1,534,499	$ 1,147,708	$ 386,791	$ -

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	$ -