Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those measurements fall:

	As of September 30, 2014		Fair value measurements at reporting date using:
			Quoted prices in active markets for identical assets (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Available for sale securities:
U.S. government and agencies	$	16,809	$	15,311	$	1,498	$	—
Government-sponsored entities	268,972		—		268,972		—
Municipal bonds	232,417		—		232,417		—
Mortgage-backed securities	186,216		—		186,216		—
Other	20,224		20,224		—		—
Total available for sale securities	724,638		35,535		689,103		—
Derivatives - interest rate customer swaps	3,284		—		3,284		—
Derivatives - interest rate swaps	473		—		473		—
Other investments	5,414		5,414		—		—
Liabilities:
Derivatives - interest rate customer swaps	$	3,355	$	—	$	3,355	$	—
Derivatives - interest rate swaps	1,005		—		1,005		—
Derivatives - junior subordinated debenture interest rate swap	2,189		—		2,189		—

			Fair value measurements at reporting date using:
	As of December 31, 2013		Quoted prices in active markets for identical assets (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
Assets:
Available for sale securities:
U.S. government and agencies	$	2,288	$	—	$	2,288	$	—
Government-sponsored entities	227,940		—		227,940		—
Municipal bonds	218,433		—		218,433		—
Mortgage-backed securities	227,444		—		227,444		—
Other	15,624		15,624		—		—
Total available for sale securities	691,729		15,624		676,105		—
Derivatives - interest rate customer swaps	2,045		—		2,045		—
Derivatives - interest rate swaps	921		—		921		—
Other investments	5,482		5,052		430		—
Liabilities:
Derivatives - interest rate customer swaps	$	2,029	$	—	$	2,029	$	—
Derivatives - interest rate swaps	543		—		543		—
Derivatives - junior subordinated debenture interest rate swap	3,469		—		3,469		—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis during the periods ended September 30, 2014 and 2013, respectively, aggregated by the level in the fair value hierarchy within which those measurements fall:

	As of September 30, 2014		Fair value measurements at reporting date using:						Gain (losses) from fair value changes
			Quoted prices in active markets for identical assets (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Three months ended September 30, 2014			Nine months ended September 30, 2014
	(In thousands)
Assets:
Impaired loans (1)	$	3,825	$	—	$	—	$	3,825	$	(1,100	)	$	(1,600	)

___________________

(1) Collateral-dependent impaired loans held at September 30, 2014 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2014.

	As of September 30, 2013		Fair value measurements at reporting date using:						Gain (losses) from fair value changes
			Quoted prices in active markets for identical assets (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Three months ended September 30, 2013		Nine months ended September 30, 2013
	(In thousands)
Assets:
Impaired loans (1)	$	9,464	$	—	$	—	$	9,464	$	—	$	(1,845	)

________________

(1) Collateral-dependent impaired loans held at September 30, 2013 that had write-downs in fair value or whose specific reserve changed during the first nine months of 2013.

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Table Text Block]

The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value:

	As of September 30, 2014
	Fair Value		Valuation technique	Unobservable Input	Range of Inputs Utilized	Weighted Average of Inputs Utilized
	(In thousands)
Impaired Loans	$	3,825	Appraisals of Collateral	Discount for costs to sell	0% - 12%	4%
				Appraisal adjustments	0% - 25%	5%

	As of September 30, 2013
	Fair Value		Valuation technique	Unobservable Input	Range of Inputs Utilized	Weighted Average of Inputs Utilized
	(In thousands)
Impaired Loans	$	9,464	Appraisals of Collateral	Discount for costs to sell	0% - 13%	8%
				Appraisal adjustments	0% - 45%	24%

Impaired loans include those loans that were adjusted to the fair value of underlying collateral as required under ASC 310, Receivables. The amount does not include impaired loans that are measured based on expected future cash flows discounted at the respective loan’s original effective interest rate, as that amount is not considered a fair value measurement. The Company uses appraisals, which management may adjust to reflect estimated fair value declines, or apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property or consideration of broker quotes. The appraisers use a market, income, and/or a cost approach in determining the value of the collateral. Therefore they have been categorized as a Level 3 measurement.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following tables present the carrying values and fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis (other than certain loans, as noted below):

	As of September 30, 2014
	Book Value		Fair Value		Quoted prices  in active markets for identical assets  (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
FINANCIAL ASSETS:
Cash and cash equivalents	$	308,912	$	308,912	$	308,912	$	—	$	—
Investment securities held to maturity	132,467		133,141		—		133,141		—
Loans, net	5,138,208		5,071,670		—		—		5,071,670
Loans held for sale	4,943		5,374		—		5,374		—
Other financial assets	112,492		112,492		—		112,492		—
FINANCIAL LIABILITIES:
Deposits	5,334,881		5,337,618		—		5,337,618		—
Securities sold under agreements to repurchase	73,422		73,415		—		73,415		—
Federal Home Loan Bank borrowings	371,367		378,697		—		378,697		—
Junior subordinated debentures	106,363		96,363		—		—		96,363
Other financial liabilities	7,515		7,515		—		7,515		—

	As of December 31, 2013
	Book Value		Fair Value		Quoted prices  in active markets for identical assets  (Level 1)		Significant  other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
	(In thousands)
FINANCIAL ASSETS:
Cash and cash equivalents	$	191,881	$	191,881	$	191,881	$	—	$	—
Investment securities held to maturity	112,014		110,917		—		110,917		—
Loans, net	5,036,088		4,985,555		—		—		4,985,555
Loans held for sale	6,123		6,130		—		6,130		—
Other financial assets	117,840		117,840		—		117,840		—
FINANCIAL LIABILITIES:
Deposits	5,110,370		5,113,224		—		5,113,224		—
Securities sold under agreements to repurchase	102,353		102,343		—		102,343		—
Federal Home Loan Bank borrowings	367,254		377,384		—		377,384		—
Junior subordinated debentures	106,363		96,363		—		—		96,363
Other financial liabilities	9,789		9,789		—		9,789		—

The estimated fair values have been determined by using available quoted market information or other appropriate valuation methodologies. The aggregate fair value amounts presented do not represent the underlying value of the Company taken as a whole.