Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENT (Tables)

v3.5.0.2
FAIR VALUE MEASUREMENT (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Financial Assets And Liabilities Carried At Fair Value On Recurring Basis
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a recurring basis as of September 30, 2016 and December 31, 2015:
 
 
 
Fair Value Measurements at September 30, 2016 Using
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
 
 
 
Active Markets
 
Significant Other
 
Significant
 
 
 
 
 
for Identical
 
Observable Inputs
 
Unobservable
 
 
 
 
 
Assets (Level 1)
 
(Level 2)
 
Inputs (Level 3)
 
Total
 
 
 
(In Thousands)
 
Assets Measured on a Recurring Basis:
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
-
 
$
36,858
 
$
-
 
$
36,858
 
Mortgage-backed securities
 
 
-
 
 
165,431
 
 
-
 
 
165,431
 
State and municipal securities
 
 
-
 
 
140,125
 
 
-
 
 
140,125
 
Corporate debt
 
 
-
 
 
9,003
 
 
-
 
 
9,003
 
Total assets at fair value
 
$
-
 
$
351,417
 
$
-
 
$
351,417
 
 
 
 
 
Fair Value Measurements at December 31, 2015 Using
 
 
 
 
 
 
Quoted Prices in
 
 
 
 
 
 
 
 
 
 
 
 
Active Markets
 
Significant Other
 
Significant
 
 
 
 
 
for Identical
 
Observable Inputs
 
Unobservable
 
 
 
 
 
Assets (Level 1)
 
(Level 2)
 
Inputs (Level 3)
 
Total
 
 
 
(In Thousands)
 
Assets Measured on a Recurring Basis:
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and government sponsored agencies
 
$
-
 
$
45,009
 
$
-
 
$
45,009
 
Mortgage-backed securities
 
 
-
 
 
136,954
 
 
-
 
 
136,954
 
State and municipal securities
 
 
-
 
 
146,033
 
 
-
 
 
146,033
 
Corporate debt
 
 
-
 
 
14,942
 
 
-
 
 
14,942
 
Total assets at fair value
 
$
-
 
$
342,938
 
$
-
 
$
342,938
 
Financial Assets And Liabilities Carried At Fair Value On Nonrecurring Basis
The following table presents the Company’s financial assets and financial liabilities carried at fair value on a nonrecurring basis as of September 30, 2016 and December 31, 2015:
 
 
 
Fair Value Measurements at September 30, 2016 Using
 
 
 
 
 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In Thousands)
 
Assets Measured on a Nonrecurring Basis:
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
-
 
$
-
 
$
70,615
 
$
70,615
 
Other real estate owned and repossessed assets
 
 
-
 
 
-
 
 
3,035
 
 
3,035
 
Total assets at fair value
 
$
-
 
$
-
 
$
73,650
 
$
73,650
 
 
 
 
Fair Value Measurements at December 31, 2015 Using
 
 
 
 
 
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Total
 
 
 
(In Thousands)
 
Assets Measured on a Nonrecurring Basis:
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
-
 
$
-
 
$
27,808
 
$
27,808
 
Other real estate owned and repossessed assets
 
 
-
 
 
-
 
 
5,392
 
 
5,392
 
Total assets at fair value
 
$
-
 
$
-
 
$
33,200
 
$
33,200
 
Carrying Amount And Estimated Fair Value Of Financial Instruments
This table includes those financial assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis.
 
 
 
September 30, 2016
 
December 31, 2015
 
 
 
Carrying
 
 
 
Carrying
 
 
 
 
 
Amount
 
Fair Value
 
Amount
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In Thousands)
 
Financial Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1 inputs:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
610,613
 
$
610,613
 
$
317,450
 
$
317,450
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2 inputs:
 
 
 
 
 
 
 
 
 
 
 
 
 
Available for sale debt securities
 
 
351,417
 
 
351,417
 
 
342,938
 
 
342,938
 
Held to maturity debt securities
 
 
25,853
 
 
26,912
 
 
27,426
 
 
27,910
 
Restricted equity securities
 
 
5,668
 
 
5,668
 
 
4,954
 
 
4,954
 
Federal funds sold
 
 
181,644
 
 
181,644
 
 
34,785
 
 
34,785
 
Mortgage loans held for sale
 
 
6,026
 
 
6,105
 
 
8,249
 
 
8,295
 
Bank owned life insurance contracts
 
 
113,643
 
 
113,643
 
 
91,594
 
 
91,594
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 3 inputs:
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net
 
 
4,608,351
 
 
4,597,899
 
 
4,172,956
 
 
4,179,835
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2 inputs:
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
5,081,128
 
$
5,082,035
 
$
4,223,888
 
$
4,223,181
 
Federal funds purchased
 
 
344,390
 
 
344,390
 
 
352,360
 
 
352,360
 
Other borrowings
 
 
55,356
 
 
54,172
 
 
55,637
 
 
52,521