Western New England Bancorp (WNEB) 10-K 15 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Mar. 09, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	Western New England Bancorp, Inc.
Entity Central Index Key	1,157,647
Document Type	10-K
Trading Symbol	WNEB
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Share Price			$ 7.70
Entity Public Float			$ 141,144,750
Entity Common Stock, Shares Outstanding		30,691,762
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
CASH AND DUE FROM BANKS	$ 23,297	$ 9,891
FEDERAL FUNDS SOLD	4,388	100
INTEREST-BEARING DEPOSITS AND OTHER SHORT-TERM INVESTMENTS	42,549	3,712
CASH AND CASH EQUIVALENTS	70,234	13,703
SECURITIES AVAILABLE- FOR-SALE - AT FAIR VALUE	300,115	182,590
SECURITIES HELD-TO-MATURITY (Fair value of $237,619 at December 31, 2015)		238,219
FEDERAL HOME LOAN BANK OF BOSTON AND OTHER RESTRICTED STOCK - AT COST	16,124	15,074
LOANS - Net of allowance for loan losses of $10,068 and $8,840 at December 31, 2016 and December 31, 2015, respectively	1,556,416	809,373
PREMISES AND EQUIPMENT, Net	20,885	13,564
ACCRUED INTEREST RECEIVABLE	5,782	3,878
BANK-OWNED LIFE INSURANCE	66,938	50,230
DEFERRED TAX ASSET, Net	16,159	10,881
GOODWILL	13,747
CORE DEPOSIT INTANGIBLE	4,438
OTHER REAL ESTATE OWNED	298
OTHER ASSETS	4,882	2,418
TOTAL ASSETS	2,076,018	1,339,930
DEPOSITS :
Noninterest-bearing	303,993	157,844
Interest-bearing	1,214,078	742,519
Total deposits	1,518,071	900,363
SHORT-TERM BORROWINGS	172,351	128,407
LONG-TERM DEBT	124,836	153,358
SECURITIES PENDING SETTLEMENT	455
OTHER LIABILITIES	21,909	18,336
TOTAL LIABILITIES	1,837,622	1,200,464
SHAREHOLDERS' EQUITY:
Common stock - $0.01 par value, 75,000,000 shares authorized, 30,380,231 shares issued and outstanding at December 31, 2016; 18,267,747 shares issued and outstanding at December 31, 2015	304	183
Additional paid-in capital	205,996	108,210
Unearned compensation - ESOP	(6,418)	(6,952)
Unearned compensation - Equity Incentive Plan	(536)	(313)
Retained earnings	51,711	49,316
Accumulated other comprehensive loss	(12,661)	(10,978)
Total shareholders' equity	238,396	139,466
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,076,018	$ 1,339,930

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Securities held to maturity, fair value		$ 237,619
Allowance for loan losses	$ 10,068	$ 8,840
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	30,380,231	18,267,747
Common stock, outstanding	30,380,231	18,267,747

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INTEREST AND DIVIDEND INCOME:
Residential and commercial real estate loans	$ 32,562	$ 23,769	$ 21,953
Commercial and industrial loans	7,431	6,594	5,749
Consumer loans	205	158	141
Debt securities, taxable	7,387	10,777	11,880
Debt securities, tax-exempt	168	602	833
Equity securities	180	162	176
Other investments	550	396	246
Federal funds sold, interest-bearing deposits and other short-term investments	115	18	13
Total interest and dividend income	48,598	42,476	40,991
INTEREST EXPENSE:
Deposits	6,581	5,571	5,177
Long-term debt	2,266	4,133	4,326
Short-term borrowings	2,438	1,090	420
Total interest expense	11,285	10,794	9,923
Net interest and dividend income	37,313	31,682	31,068
PROVISION FOR LOAN LOSSES	575	1,275	1,575
Net interest and dividend income after provision for loan losses	36,738	30,407	29,493
NONINTEREST INCOME (LOSS):
Service charges and fees	4,181	3,132	2,617
Income from bank-owned life insurance	1,558	1,527	1,523
Loss on prepayment of borrowings	(915)	(1,300)
Gain on sales of securities, net	1,139	1,506	320
Other income	8
Total noninterest income	5,971	4,865	4,460
NONINTEREST EXPENSE:
Salaries and employees benefits	17,643	15,410	14,709
Occupancy	3,617	3,239	3,076
Computer operations	2,845	2,361	2,341
Professional fees	2,177	2,178	1,936
FDIC insurance assessment	716	800	713
Merger related expenses	4,051
Other expenses	4,257	3,445	3,134
Total noninterest expense	35,306	27,433	25,909
INCOME BEFORE INCOME TAXES	7,403	7,839	8,044
INCOME TAX PROVISION	2,569	2,124	1,882
NET INCOME	$ 4,834	$ 5,715	$ 6,162
EARNINGS PER COMMON SHARE:
Basic earnings per share (in dollars per share)	$ 0.25	$ 0.33	$ 0.34
Weighted average shares outstanding (in shares)	19,707,948	17,497,620	18,183,739
Diluted earnings per share (in dollars per share)	$ 0.24	$ 0.33	$ 0.34
Weighted average diluted shares outstanding (in shares)	19,803,744	17,497,620	18,183,739

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income		$ 4,834	$ 5,715	$ 6,162
Securities available for sale:
Unrealized holding (losses) gains		(2,381)	(1,505)	3,398
Reclassification adjustment for net gains realized in income	[1]	(1,139)	(1,506)	(320)
Amortization of net unrealized (gain) loss on held-to-maturity securities	[2]	26	(527)	(55)
Amortization of net unrealized loss upon transfer of held-to-maturity to available for sale	[3]	2,288
Net unrealized (losses) gains		(1,206)	(3,538)	3,023
Tax effect		413	1,220	(1,045)
Net-of-tax amount		(793)	(2,318)	1,978
Derivative instruments:
Change in fair value of derivatives used for cash flow hedges		(1,126)	(3,337)	(7,684)
Reclassification adjustment for loss realized in interest expense	[4]	619	519	190
Reclassification adjustment for termination fee realized in interest expense	[5]	956	223
Net adjustments pertaining to derivative instruments		449	(2,595)	(7,494)
Tax effect		(152)	882	2,548
Net-of-tax amount		297	(1,713)	(4,946)
Defined benefit pension plans:
Gains (losses) arising during the period		(1,906)	674	(2,312)
Reclassification adjustments:
Actuarial loss	[6]	109	125
Transition asset	[6]			(10)
Net adjustments pertaining to defined benefit plans	[6]	(1,797)	799	(2,322)
Tax effect	[6]	610	(271)	790
Net-of-tax amount	[6]	(1,187)	528	(1,532)
Other comprehensive loss		(1,683)	(3,503)	(4,500)
Comprehensive income	[6]	$ 3,151	$ 2,212	$ 1,662
[1]	Gains realized in income on available-for-sale securities is recognized as a component of noninterest income. The tax provision applicable to net realized gains was $387,000, $517,000 and $109,000 for the years ended December 31, 2016, 2015 and 2014, respectively.
[2]	Amortization of net unrealized loss on held-to-maturity securities is recognized as a component of interest income on debt securities. Income tax effects associated with the reclassification adjustments were $(9,000), $182,000 and $18,000 for the years ended December 31, 2016, 2015 and 2014, respectively.
[3]	Income tax effect associated with the reclassification adjustments upon transfer of held-to-maturity to available-for-sale was $790,000 for the year ended December 31, 2016.
[4]	Loss realized in interest expense on derivative instruments is recognized as a component of interest expense on short-term debt. Income tax effects associated with the reclassification adjustments were $210,000, $176,000 and $65,000 for the years ended December 31, 2016, 2015 and 2014, respectively.
[5]	Termination fee on derivative instruments is recognized as a component of interest expense on short-term debt. Income tax effects associated with the reclassification adjustments were $325,000 and $76,000 for the years ended December 31, 2016 and 2015, respectively.
[6]	Amounts represent the reclassification of defined benefit plans amortization and have been recognized as a component of salaries and employee benefit expense. Income tax effects associated with the reclassification adjustments were $(611,000), $43,000 and $(3,000) for the years ended December 31, 2016, 2015 and 2014, respectively.

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Income tax expense (benefits) on realized gains reclassification adjustment	$ 387	$ 517	$ 109
Income tax expense (benefits) on amortization of net unrealized (gain) loss on held-to-maturity securities	(9)	182	18
Income tax expense (benefits) on net unrealized (loss) gain upon transfer of held-to-maturity to available-for-sale	790
Income tax expense (benefits), derivative instruments	210	176	65
Income tax benefit on termination fee on derivative instruments	325	76
Income tax expense (benefits), defined benefit plans	$ (611)	$ 43	$ (3)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Unearned Compensation - ESOP [Member]	Unearned Compensation - Equity Incentive Plan [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income Loss [Member]	Total
BEGINNING BALANCE at Dec. 31, 2013	$ 201	$ 121,860	$ (8,003)	$ (187)	$ 43,248	$ (2,975)	$ 154,144
BEGINNING BALANCE (in shares) at Dec. 31, 2013	20,140,669
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)					6,162	(4,500)	1,662	[1]
Common stock held by ESOP committed to be released (79,345, 76,888, 79,082 shares)		42	534				576
Share-based compensation - equity incentive plan				92			92
Excess tax benefit from equity incentive plan		(1)					(1)
Common stock repurchased	$ (14)	(10,205)					(10,219)
Common stock repurchased (in shares)	(1,405,878)
Return of dividends issued in connection with equity incentive plan					121		121
Cash dividends declared and paid ($0.21, $0.12, $0.12 per share)					(3,832)		(3,832)
ENDING BALANCE at Dec. 31, 2014	$ 187	111,696	(7,469)	(95)	45,699	(7,475)	142,543
ENDING BALANCE (in shares) at Dec. 31, 2014	18,734,791
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)					5,715	(3,503)	2,212	[1]
Common stock held by ESOP committed to be released (79,345, 76,888, 79,082 shares)		65	517				582
Share-based compensation - equity incentive plan				131			131
Excess tax benefit from equity incentive plan		2					2
Common stock repurchased	$ (5)	(3,901)					(3,906)
Common stock repurchased (in shares)	(515,604)
Issuance of common stock in connection with equity incentive plan	$ 1	348		(349)
Issuance of common stock in connection with equity incentive plan (in shares)	48,560
Cash dividends declared and paid ($0.21, $0.12, $0.12 per share)					(2,098)		(2,098)
ENDING BALANCE at Dec. 31, 2015	$ 183	108,210	(6,952)	(313)	49,316	(10,978)	139,466
ENDING BALANCE (in shares) at Dec. 31, 2015	18,267,747
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)					4,834	(1,683)	3,151	[1]
Common stock held by ESOP committed to be released (79,345, 76,888, 79,082 shares)		96	534				630
Share-based compensation - equity incentive plan				262			262
Excess tax benefit from equity incentive plan		12					12
Acquisition of Chicopee Bancorp	$ 125	98,386					98,511
Acquisition of Chicopee Bancorp (in shares)	12,469,334
Retirement of Chicopee Bancorp ESOP	$ (5)	(4,102)					(4,107)
Retirement of Chicopee Bancorp ESOP (in shares)	(519,922)
Premium to equity for rollover of Chicopee Bancorp options		2,864					2,864
Retirement of WNEB stock previously owned by Chicopee Bancorp		(236)					(236)
Retirement of WNEB stock previously owned by Chicopee Bancorp (in shares)	(30,000)
Common stock repurchased	$ (2)	(1,831)					(1,833)
Common stock repurchased (in shares)	(201,296)
Issuance of common stock in connection with stock option exercises	$ 2	1,969					1,971
Issuance of common stock in connection with stock option exercises (in shares)	331,628
Issuance of common stock in connection with equity incentive plan	$ 1	484		(485)
Issuance of common stock in connection with equity incentive plan (in shares)	62,740
Excess tax benefits in connection with stock option exercises		144					144
Cash dividends declared and paid ($0.21, $0.12, $0.12 per share)					(2,439)		(2,439)
ENDING BALANCE at Dec. 31, 2016	$ 304	$ 205,996	$ (6,418)	$ (536)	$ 51,711	$ (12,661)	$ 238,396
ENDING BALANCE (in shares) at Dec. 31, 2016	30,380,231
[1]	Amounts represent the reclassification of defined benefit plans amortization and have been recognized as a component of salaries and employee benefit expense. Income tax effects associated with the reclassification adjustments were $(611,000), $43,000 and $(3,000) for the years ended December 31, 2016, 2015 and 2014, respectively.

CONSOLIDATED STATEMENT OF CHAN8

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash dividends declared, per share	$ 0.12	$ 0.12	$ 0.21
Unearned Compensation - ESOP [Member]
Common stock held by ESOP committed to be released, shares	79,082	76,888	79,345

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net income	$ 4,834,000	$ 5,715,000	$ 6,162,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	575,000	1,275,000	1,575,000
Depreciation and amortization of premises and equipment	1,429,000	1,315,000	1,189,000
Amortization of core deposit intangible	73,000
Net amortization of premiums and discounts on securities and mortgage loans	3,447,000	4,670,000	4,263,000
Net amortization of premiums on modified debt	60,000	383,000	610,000
Share-based compensation expense	262,000	131,000	92,000
ESOP expense	630,000	582,000	576,000
Excess tax (benefits) expense from equity incentive plan	(12,000)	(2,000)	1,000
Excess tax benefits in connection with stock option exercises	(144,000)
Net gains on sales of securities	(1,139,000)	(1,506,000)	(320,000)
Loss on prepayment of borrowings	915,000	1,300,000
Deferred income tax expense (benefit)	274,000	(231,000)	(193,000)
Income from bank-owned life insurance	(1,558,000)	(1,527,000)	(1,523,000)
Changes in assets and liabilities:
Accrued interest receivable	(464,000)	335,000	(12,000)
Other assets	(1,564,000)	(56,000)	(150,000)
Other liabilities	(6,494,000)	(308,000)	77,000
Net cash provided by operating activities	1,124,000	12,076,000	12,347,000
Securities, held-to-maturity:
Purchases		(2,620,000)
Proceeds from calls, maturities, and principal collections	6,836,000	39,372,000	14,433,000
Securities, available-for-sale:
Purchases	(87,246,000)	(141,074,000)	(66,784,000)
Proceeds from sales	136,829,000	134,437,000	71,738,000
Proceeds from calls, maturities, and principal collections	59,112,000	36,298,000	24,135,000
Purchase of residential mortgages	(108,448,000)	(90,743,000)	(53,272,000)
Loan originations and principal payments, net	1,313,000	(3,261,000)	(34,522,000)
Net cash acquired from acquisition of Chicopee Bancorp	23,808,000
Redemption (purchase) of Federal Home Loan Bank of Boston stock	3,126,000	(140,000)	697,000
Purchases of premises and equipment	(1,487,000)	(3,220,000)	(1,937,000)
Proceeds from sale of premises and equipment	20,000	44,000	40,000
Net cash provided by (used in) investing activities	33,863,000	(30,907,000)	(45,472,000)
FINANCING ACTIVITIES:
Net increase in deposits	72,039,000	66,145,000	17,106,000
Net change in short-term borrowings	38,944,000	34,410,000	45,800,000
Repayment of long-term debt	(89,933,000)	(80,950,000)	(21,650,000)
Proceeds from long-term debt	2,184,000	146,000	5,142,000
Return of dividends issued in connection with equity incentive plan			121,000
Cash dividends paid	(2,439,000)	(2,098,000)	(3,832,000)
Common stock repurchased	(1,378,000)	(3,906,000)	(10,518,000)
Issuance of common stock in connection with stock option exercises	1,971,000
Excess tax benefits (expense) from equity incentive plan	12,000	2,000	(1,000)
Excess tax benefits in connection with stock option exercises	144,000
Net cash provided by financing activities	21,544,000	13,749,000	32,168,000
NET CHANGE IN CASH AND CASH EQUIVALENTS:	56,531,000	(5,082,000)	(957,000)
Beginning of year	13,703,000	18,785,000	19,742,000
End of year	70,234,000	$ 13,703,000	18,785,000
Supplemental cashflow information:
Securities reclassified from held-to-maturity to available-for-sale	(232,817,000)
Securities reclassified to loan portfolio			$ 606,000
Net cash due to broker for common stock repurchased	455,000
Loans transferred to other real estate owned	298,000
In connection with the purchase acquisition detailed in Note 22 to the audited consolidated financial statements:
Fair value of non-cash assets acquired	674,529,000
Goodwill and core deposit intangibles	18,258,000
Fair value of liabilities assumed	617,803,000
Value of common shares issued	$ 98,792,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Presentation The Bank’s deposits are insured to the limits specified by the Federal Deposit Insurance Corporation (“FDIC”). The Bank operates 21 banking offices in western Massachusetts and Granby and Enfield, Connecticut, and its primary sources of revenue are earnings on loans to small and middle-market businesses and to residential property homeowners and income from securities. Elm Street Securities Corporation, a Massachusetts-chartered corporation, was formed by us for the primary purpose of holding qualified securities. In February 2007, we formed WFD Securities, Inc., a Massachusetts-chartered corporation, for the primary purpose of holding qualified securities. In October 2009, we formed WB Real Estate Holdings, LLC, a Massachusetts-chartered limited liability company, for the primary purpose of holding real property acquired as security for debts previously contracted by the Bank. On October 21, 2016, we acquired Chicopee Bancorp, Inc. (“Chicopee”), the holding company for Chicopee Savings Bank. The acquisition added eight full-service banking offices located in western Massachusetts. See Note 22 - Acquisition of Chicopee Bancorp, Inc. for additional details. In conjunction with the acquisition of Chicopee, we acquired CSB Colts, Inc., a Massachusetts-chartered corporation, formed for the primary purpose of holding qualified securities. Principles of Consolidation Estimates Reclassifications – Cash and Cash Equivalents Securities and Mortgage-Backed Securities Realized gains and losses on sales of securities and mortgage-backed securities are computed using the specific identification method and are included in noninterest income on the trade date. The amortization of premiums and accretion of discounts is determined by using the level yield method to the maturity date. Derivatives - Other-than-Temporary Impairment of Securities Fair Value Hierarchy Level 1 – Valuation is based on quoted prices in active markets for identical assets. Level 1 assets generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Transfers between levels are recognized at the end of a reporting period, if applicable. Federal Home Loan Bank of Boston Stock Loans Held for Sale Loans Receivable Allowance for Loan Losses The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, commercial and industrial, and consumer. Residential real estate loans include classes for residential and home equity. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: trends in delinquencies and nonperforming loans; trends in volume and terms of loans; internal credit ratings; effects of changes in risk selection; underwriting standards and other changes in lending policies, procedures and practices; and national and local economic trends and industry conditions. There were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during 2016. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Commercial real estate – Loans in this segment are primarily income-producing investment properties and owner occupied commercial properties throughout New England. The underlying cash flows generated by the properties or operations can be adversely impacted by a downturn in the economy due to increased vacancy rates or diminished cash flows, which in turn, would have an effect on the credit quality in this segment. Management obtains financial information annually and continually monitors the cash flows of these loans. Residential real estate –All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. We require private mortgage insurance for all loans originated with a loan-to-value ratio greater than 80 percent and do not grant subprime loans. Commercial and industrial loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, decreased consumer spending, changes in technology and government spending are examples of what will have an effect on the credit quality in this segment. Consumer loans – Loans in this segment are both secured and unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Impaired loans are identified by analysis of loan performance, internal credit ratings and watch list loans that management believes are subject to a higher risk of loss. Impairment is measured on a loan by loan basis for commercial real estate and commercial and industrial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, we do not separately identify individual consumer and residential real estate loans for impairment disclosures, unless such loans are nonperforming or subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all of the principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. We may periodically agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are classified as impaired. While we use our best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. We also maintain a reserve for unfunded credit commitments to provide for the risk of loss inherent in these arrangements. This reserve is determined using a methodology similar to the analysis of the allowance for loan losses, taking into consideration probabilities of future funding requirements. This reserve for unfunded commitments is included in other liabilities and was $60,000 at December 31, 2016 and 2015. Unallocated component An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. Loans Acquired with Deteriorating Credit Quality – Bank-owned Life Insurance – Transfers and Servicing of Financial Assets Premises and Equipment Years Buildings 39 Leasehold Improvements 5-20 Furniture and Equipment 3-7 The cost of maintenance and repairs is charged to expense when incurred. Major expenditures for betterments are capitalized and depreciated. Other Real Estate Owned Servicing Servicing fee income is recorded for fees earned for servicing loans, which is included in service charges and fee income. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Impairment of Long-lived Assets Goodwill is measured as the excess of the cost of a business combination over the sum of the amounts assigned to identifiable intangible assets acquired less liabilities assumed. Goodwill is not amortized but rather assessed for impairment annually or more frequently if circumstances warrant. Management has the option of first assessing qualitative factors, such as events and circumstances, to determine whether it is more likely than not, meaning a likelihood of more than 50%, the value of a reporting unit is less than its carrying amount. If, after considering all relevant events and circumstances, management determines it is not more likely than not the fair value of a reporting unit is less than its carrying amount, then performing an impairment test is unnecessary. For the year ended December 31, 2016, management determined that it was not more likely than not the fair value of the reporting unit (the consolidated Company, in our case) was less than its carrying amount. If management had determined otherwise, the two-step process would have been completed to determine the impairment and necessary write-down of goodwill. Retirement Plans and Employee Benefits Share-based Compensation Plans Employee Stock Ownership Plan Advertising Costs Income Taxes Earnings per Share - Earnings per common share have been computed based on the following: Years Ended December 31, 2016 2015 2014 (In thousands, except per share data) Net income applicable to common stock $ 4,834 $ 5,715 $ 6,162 Average number of common shares issued 20,659 18,509 19,274 Less: Average unallocated ESOP Shares (935 ) (1,011 ) (1,090 ) Less: Average unvested equity incentive plan shares (16 ) — — Average number of common shares outstanding used to calculate basic earnings per common share 19,708 17,498 18,184 Effect of dilutive equity incentive plan 3 — — Effect of dilutive stock options 93 — — Average number of common shares outstanding used to calculate diluted earnings per common share 19,804 17,498 18,184 Basic earnings per share $ 0.25 $ 0.33 $ 0.34 Diluted earnings per share $ 0.24 $ 0.33 $ 0.34 Antidilutive Shares (1) — — — (1) Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows: December 31, 2016 December 31, 2015 (In thousands) Net unrealized gains (losses) on securities available-for-sale $ (5,863 ) $ (2,343 ) Tax effect 2,024 812 Net-of-tax amount (3,839 ) (1,531 ) Net unamortized losses on securities transferred from available-for-sale to held-to-maturity — (2,314 ) Tax effect — 799 Net-of-tax amount — (1,515 ) Fair value of derivatives used for cash flow hedges (3,152 ) (6,064 ) Termination fee (4,733 ) (2,270 ) Total derivatives (7,885 ) (8,334 ) Tax effect 2,681 2,833 Net-of-tax amount (5,204 ) (5,501 ) Unrecognized deferred loss pertaining to defined benefit plan (5,482 ) (3,685 ) Tax effect 1,864 1,254 Net-of-tax amount (3,618 ) (2,431 ) Accumulated other comprehensive loss $ (12,661 ) $ (10,978 ) The following table presents changes in accumulated other comprehensive loss for the years ended December 31, 2016 and 2015 by component: Securities Derivatives Defined Accumulated (In thousands) Balance at December 31, 2014 $ (728 ) $ (3,788 ) $ (2,959 ) $ (7,475 ) Current-period other comprehensive (loss) income (2,318 ) (1,713 ) 528 (3,503 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Current-period other comprehensive (loss) income (793 ) 297 (1,187 ) (1,683 ) Balance at December 31, 2016 $ (3,839 ) $ (5,204 ) $ (3,618 ) $ (12,661 ) With regard to defined benefit plans, an actuarial loss of $198,000 is expected to be recognized as a component of net periodic pension cost for the year ending December 31, 2017. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall In February of 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting On June 16, 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
SECURITIES	2. SECURITIES Securities available-for-sale are summarized as follows: December 31, 2016 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Government-sponsored mortgage-backed securities $ 184,127 $ 33 $ (4,024 ) $ 180,136 U.S. government guaranteed mortgage-backed securities 17,753 — (403 ) 17,350 Corporate bonds 50,255 265 (203 ) 50,317 State and municipal bonds 4,117 13 (122 ) 4,008 Government-sponsored enterprise obligations 43,140 — (1,132 ) 42,008 Mutual funds 6,586 — (290 ) 6,296 Total available-for-sale securities $ 305,978 $ 311 $ (6,174 ) $ 300,115 December 31, 2015 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Government-sponsored mortgage-backed securities $ 138,186 $ — $ (2,227 ) $ 135,959 U.S. government guaranteed mortgage-backed securities 11,030 — (127 ) 10,903 Corporate bonds 21,176 45 (85 ) 21,136 State and municipal bonds 2,794 7 — 2,801 Government-sponsored enterprise obligations 4,000 — (49 ) 3,951 Mutual funds 6,438 — (191 ) 6,247 Common and preferred stock 1,309 284 — 1,593 Total available-for-sale securities 184,933 336 (2,679 ) 182,590 Held-to-maturity securities: Government-sponsored mortgage-backed securities $ 148,085 $ 1,319 $ (1,515 ) $ 147,889 U.S. government guaranteed mortgage-backed securities 29,174 166 (66 ) 29,274 Corporate bonds 23,969 64 (316 ) 23,717 State and municipal bonds 6,845 68 (102 ) 6,811 Government-sponsored enterprise obligations 30,146 254 (472 ) 29,928 Total held-to-maturity securities 238,219 1,871 (2,471 ) 237,619 Total $ 423,152 $ 2,207 $ (5,150 ) $ 420,209 Our repurchase agreements are collateralized by government-sponsored enterprise obligations and certain mortgage-backed securities (see Note 7). The amortized cost and fair value of securities at December 31, 2016, by final maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or repay obligations and mortgage-backed securities amortize monthly. December 31, 2016 Amortized Fair Value (In thousands) Mortgage-backed securities: Due after one year through five years $ 21,877 $ 21,647 Due after five years through ten years 17,415 17,176 Due after ten years 162,588 158,663 Total $ 201,880 $ 197,486 Debt securities: Due in one year or less $ 18,270 $ 18,262 Due after one year through five years 26,730 26,846 Due after five years through ten years 45,760 44,831 Due after ten years 6,752 6,394 Total $ 97,512 $ 96,333 Gross realized gains and losses on sales of securities for the years ended December 31, 2016, 2015 and 2014 are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) Gross gains realized $ 1,976 $ 1,638 $ 801 Gross losses realized (837 ) (132 ) (481 ) Net gain realized $ 1,139 $ 1,506 $ 320 Proceeds from the sales of securities available-for-sale amounted to $136.8 million, $134.4 million and $71.7 million for the years ended December 31, 2016, 2015 and 2014, respectively. During the first quarter of 2016, the Company transferred its held-to-maturity portfolio of $232.8 million to available-for-sale, and subsequently sold $136.8 million in securities available-for-sale. As a result of this transfer, the Company has tainted their held-to-maturity portfolio and is prohibited from classifying future purchases as held-to-maturity. Information pertaining to securities with gross unrealized losses at December 31, 2016 and 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: December 31, 2016 Less Than 12 Months Over 12 Months Gross Fair Gross Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 3,016 $ 147,691 $ 1,008 $ 27,303 U.S. government guaranteed mortgage-backed securities 192 12,536 211 4,814 Corporate bonds 203 18,481 — — State and municipal bonds 95 1,507 27 305 Government-sponsored enterprise obligations 1,132 42,008 — — Mutual funds 79 3,429 211 2,867 Total available-for-sale $ 4,717 $ 225,652 $ 1,457 $ 35,289 December 31, 2015 Less Than 12 Months Over 12 Months Gross Fair Gross Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 2,090 $ 129,731 $ 137 $ 6,228 U.S. government guaranteed mortgage-backed securities 116 10,290 11 613 Corporate bonds 85 13,374 — — Government-sponsored enterprise obligations 49 3,951 — — Mutual funds 32 4,478 159 1,769 Total available-for-sale 2,372 161,824 307 8,610 Held-to-maturity: Government-sponsored mortgage-backed securities $ 947 $ 45,760 $ 568 $ 32,825 U.S. government guaranteed mortgage-backed securities 37 2,522 29 15,401 Corporate bonds 204 5,412 112 13,382 State and municipal bonds — — 102 4,809 Government-sponsored enterprise obligations — — 472 20,193 Total held-to-maturity 1,188 53,694 1,283 86,610 Total $ 3,560 $ 215,518 $ 1,590 $ 95,220 December 31, 2016 Less Than Twelve Months Over Twelve Months Number of Securities Amortized Cost Basis Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Amortized Cost Basis Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 56 $ 150,707 $ 3,016 2.0 % 10 $ 28,311 $ 1,008 3.6 % U.S. government guaranteed mortgage-backed securities 4 12,728 192 1.5 2 5,025 211 4.2 Government-sponsored enterprise obligations 11 43,140 1,132 2.6 0 — — — Corporate bonds 5 18,684 203 1.1 0 — — — State and municipal bonds 3 1,602 95 5.9 1 332 27 8.1 Mutual funds 1 3,508 79 2.3 2 3,078 211 6.9 $ 230,369 $ 4,717 $ 36,746 $ 1,457 These unrealized losses are the result of changes in interest rates and not credit quality. Because we do not intend to sell the securities and it is more likely than not that we will not be required to sell the investments before recovery of their amortized cost bases, no declines are deemed to be other-than-temporary.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
LOANS	3. LOANS Loans consisted of the following amounts: December 31, 2016 2015 (In thousands) Commercial real estate $ 720,741 $ 303,036 Residential real estate: Residential 522,083 298,052 Home equity 92,083 43,512 Commercial and industrial 222,286 168,256 Consumer 4,424 1,534 Total loans 1,561,617 814,390 Unearned premiums and deferred loan fees and costs, net 4,867 3,823 Allowance for loan losses (10,068 ) (8,840 ) $ 1,556,416 $ 809,373 During 2016 and 2015, we purchased residential real estate loans aggregating $108.4 million and $90.7 million, respectively. These purchased loans are subject to underwriting standards that are consistent with our originated loans and we consider the risk attributes to be similar to originated loans. We have transferred a portion of our originated commercial loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in our accompanying consolidated balance sheets. We share ratably with our participating lenders in any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. We continue to service the loans on behalf of the participating lenders and, as such, collect cash payments from the borrowers, remit payments (net of servicing fees) to participating lenders and disburse required escrow funds to relevant parties. At December 31, 2016 and 2015, we serviced commercial loans for participants aggregating $42.6 million and $19.5 million, respectively. Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid balances of these loans totaled $75.2 million and $1.0 million at December 31, 2016 and 2015, respectively, with the increase resulting from the acquisition of Chicopee’s mortgage servicing portfolio. Net service fee income of $12,500, $4,000 and $4,000 was recorded for the years ended December 31, 2016, 2015 and 2014, respectively, and is included in service charges and fees on the consolidated statements of income. Residential real estate mortgages are originated by the Bank both for its portfolio and for sale into the secondary market. The Bank may sell its loans to institutional investors such as the Federal Home Loan Mortgage Corporation. Under loan sale and servicing agreements with the investor, the Bank generally continues to service the residential real estate mortgages. The Bank pays the investor an agreed upon rate on the loan, which is less than the interest rate received from the borrower. The Bank retains the difference as a fee for servicing the residential real estate mortgages. The Bank capitalizes mortgage servicing rights at their fair value upon sale of the related loans, amortizes the asset over the estimated life of the serviced loan, and periodically assesses the asset for impairment. The significant assumptions used by a third party to estimate the fair value of capitalized servicing rights at December 31, 2016, include weighted average prepayment speed for the portfolio using the Public Securities Association Standard Prepayment Model (203 PSA), weighted average internal rate of return (9.05%), weighted average servicing fee (0.2501)%, and net cost to service loans ($51.67 per loan). The estimated fair value of capitalized servicing rights may vary significantly in subsequent periods primarily due to changing market interest rates, and their effect on prepayment speeds and discount rates. A summary of the activity in the balances of mortgage servicing rights follows: Year Ended December 31, (In thousands) Balance at the beginning of year: $ — Capitalized mortgage servicing rights 502 Amortization 37 Balance at the end of year $ 465 Fair value at the end of year $ 628 Prior to the acquisition of Chicopee in 2016, mortgage servicing rights were not material to the consolidated financial statements, and therefore, were not recorded. An analysis of changes in the allowance for loan losses by segment for the years ended December 31, 2016, 2015 and 2014 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2013 $ 3,550 $ 1,707 $ 2,191 $ 13 $ (2 ) $ 7,459 Provision 505 376 649 42 3 1,575 Charge-offs (350 ) (31 ) (787 ) (55 ) — (1,223 ) Recoveries — 1 121 15 — 137 Balance at December 31, 2014 $ 3,705 $ 2,053 $ 2,174 $ 15 $ 1 $ 7,948 Provision 151 428 605 46 45 1,275 Charge-offs — (58 ) (345 ) (73 ) — (476 ) Recoveries — 8 51 34 — 93 Balance at December 31, 2015 $ 3,856 $ 2,431 $ 2,485 $ 22 $ 46 $ 8,840 Provision (credit) (668 ) 579 575 135 (46 ) 575 Charge-offs (170 ) (157 ) — (159 ) — (486 ) Recoveries 1,065 9 25 40 — 1,139 Balance at December 31, 2016 $ 4,083 $ 2,862 $ 3,085 $ 38 $ — $ 10,068 Further information pertaining to the allowance for loan losses by segment at December 31, 2016 and 2015 follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) December 31, 2016 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated and not deemed impaired 4,083 2,862 3,085 38 — 10,068 Allowance for loans acquired with deteriorated credit quality — — — — — — Total allowance for loan losses 4,083 2,862 3,085 38 — 10,068 Loans individually evaluated and deemed impaired 3,335 452 3,042 — — 6,829 Loans collectively or individually evaluated and not deemed impaired 701,766 609,107 217,972 4,424 — 1,533,269 Amount of loans acquired with deteriorated credit quality 15,640 4,607 1,272 — — 21,519 Total loans $ 720,741 $ 614,166 $ 222,286 $ 4,424 $ — $ 1,561,617 December 31, 2015 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated and not deemed impaired 3,856 2,431 2,485 22 46 8,840 Total allowance for loan losses 3,856 2,431 2,485 22 46 8,840 Loans individually evaluated and deemed impaired 3,732 399 3,363 — — 7,494 Loans collectively or individually evaluated and not deemed impaired 299,304 341,165 164,893 1,534 — 806,896 Total loans $ 303,036 $ 341,564 $ 168,256 $ 1,534 $ — $ 814,390 The following is a summary of past due and nonaccrual loans by class at December 31, 2016 and 2015: 30 – 59 Days Past Due 60 – 89 Days Past Due Past Due 90 Days or More Total Past Due Past Due 90 Days or More and Still Accruing Loans on Non-Accrual (In thousands) December 31, 2016 Commercial real estate $ 302 $ 555 $ 137 $ 994 $ — $ 2,740 Residential real estate: Residential 791 262 689 1,742 — 1,658 Home equity 208 36 — 244 — 37 Commercial and industrial 326 32 — 358 — 3,214 Consumer 27 9 7 43 — 14 Total legacy loans 1,654 894 833 3,381 — 7,663 Loans acquired from Chicopee Savings Bank 3,854 1,907 551 6,312 — 6,394 Total past due loans $ 5,508 $ 2,801 $ 1,384 $ 9,693 $ — $ 14,057 December 31, 2015 Commercial real estate $ 348 $ 730 $ 20 $ 1,098 $ — $ 3,237 Residential real estate: Residential 638 — 908 1,546 — 1,470 Home equity 230 124 — 354 — — Commercial and industrial 127 649 445 1,221 — 3,363 Consumer 30 — — 30 — 10 Total $ 1,373 $ 1,503 $ 1,373 $ 4,249 $ — $ 8,080 The following is a summary of impaired loans by class: Impaired Loans (1) Year Ended At December 31, 2016 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (In thousands) Commercial real estate $ 18,975 $ 21,330 $ — $ 5,458 $ 191 Residential real estate 5,059 5,676 — 1,052 7 Commercial and industrial 4,314 11,049 — 3,504 40 Total impaired loans $ 28,348 $ 38,055 $ — $ 10,014 $ 238 (1) Includes loans acquired with deteriorated credit quality. Impaired Loans Year Ended At December 31, 2015 December 31, 2015 Recorded Investment Unpaid Related Allowance Average Recorded Investment Interest (In thousands) Commercial real estate $ 3,732 $ 4,403 $ — $ 3,332 $ 27 Residential real estate 399 543 — 330 — Commercial and industrial 3,363 4,408 — 3,671 — Total impaired loans $ 7,494 $ 9,354 $ — $ 7,333 $ 27 No interest income was recognized for impaired loans on a cash-basis method during the years ended December 31, 2016 or 2015. Interest income recognized during the year ended December 31, 2016 and 2015 related to TDRs. We may periodically agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). These concessions could include a reduction in the interest rate on the loan, payment extensions, postponement or forgiveness of principal, forbearance or other actions intended to maximize collection. All TDRs are classified as impaired. When we modify loans in a TDR, we measure impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or use the current fair value of the collateral, less selling costs for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through a specific allowance or a charge-off to the allowance. Nonperforming TDRs are shown as nonperforming assets. The following table summarizes TDRs at the dates indicated: Year Ended Year Ended December 31, 2016 December 31, 2015 Number of Contracts Pre- Post- Number of Contracts Pre- Post- (Dollars in thousands) (Dollars in thousands) Troubled Debt Restructurings: Commercial Real Estate 2 $ 1,946 $ 1,946 1 $ 478 $ 478 Commercial and Industrial 3 2,899 2,899 — — — Residential 4 555 555 — — — Total 9 $ 5,400 $ 5,400 1 $ 478 $ 478 A substandard impaired loan relationship in the amount of $4.6 million was designated a TDR during the year ended December 31, 2016. The Bank entered into a forbearance agreement which offered an interest only period. Due to the borrower continuing to experience declining sales, the interest only period was extended during the second quarter of 2016, resulting in the TDR classification. The loans are on non-accrual and are current. The loans are measured for impairment quarterly and appropriate reserves/charge offs have been taken. There were no significant loans modified in the TDRs during the year ended December 31, 2015. No TDRs defaulted (defined as 30 days or more past due) within 12 months of restructuring during the years ended December 31, 2015. Upon our merger with Chicopee, we acquired 3 TDR loans totaling $440,000 that subsequently defaulted within the year of restructuring. As of December 31, 2016, we have not committed to lend any additional funds for loans that are classified as impaired. There were no charge-offs on TDRs during the year ended December 31, 2016. There were $345,857 in charge-offs on TDRs during the year ended December 31, 2015. Loans Acquired with Deteriorated Credit Quality The following is a summary of loans acquired with evidence of credit deterioration from Chicopee as of December 31, 2016. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at acquisition date of October 21, 2016 $ 38,590 $ 30,091 $ 8,499 $ 7,723 $ 22,368 Collections (753 ) (753 ) — (206 ) (547 ) Transferred to OREO (400 ) (298 ) (102 ) 4 (302 ) Balance at December 31, 2016 $ 37,437 $ 29,040 $ 8,397 $ 7,521 $ 21,519 Credit Quality Information We use an eight-grade internal loan rating system for commercial real estate and commercial and industrial loans. Performing residential real estate, home equity and consumer loans are grouped with “Pass” rated loans. Nonperforming residential real estate, home equity and consumer loans are monitored individually for impairment and risk rated as “substandard.” Loans rated 1 – 3 are considered “Pass” rated loans with low to average risk. Loans rated 4 are considered “Pass Watch,” which represent loans to borrowers with declining earnings, losses, or strained cash flow. Loans rated 5 are considered “Special Mention.” These loans exhibit potential credit weaknesses or downward trends and are being closely monitored by us. Loans rated 6 are considered “Substandard.” Generally, a loan is considered substandard if the borrower exhibits a well-defined weakness that may be inadequately protected by the current net worth and cash flow capacity to pay the current debt. Loans rated 7 are considered “Doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable and that a partial loss of principal is likely. Loans rated 8 are considered uncollectible and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, we formally review the ratings on all commercial real estate and commercial and industrial loans. Construction loans are reported within commercial real estate loans and total $88.9 million and $23.1 million at December 31, 2016 and 2015, respectively. We engage an independent third party to review a significant portion of loans within these segments on at least an annual basis. We use the results of these reviews as part of our annual review process. In addition, management utilizes delinquency reports, the watch list and other loan reports to monitor credit quality in other segments. The following table presents our loans by risk rating at December 31, 2016 and December 31, 2015: Commercial Real Estate Residential 1-4 family Home Equity Commercial and Industrial Consumer Total (Dollars in thousands) December 31, 2016 Loans rated 1 – 3 $ 673,957 $ 516,339 $ 91,964 $ 180,675 $ 4,391 $ 1,467,326 Loans rated 4 24,207 — — 16,621 6 40,834 Loans rated 5 14,068 — — 6,727 — 20,795 Loans rated 6 6,604 5,744 119 15,379 27 27,873 Loans rated 7 1,905 — — 2,884 — 4,789 $ 720,741 $ 522,083 $ 92,083 $ 222,286 $ 4,424 $ 1,561,617 December 31, 2015 Loans rated 1 – 3 $ 269,124 $ 296,582 $ 43,512 $ 135,416 $ 1,524 $ 746,158 Loans rated 4 27,053 — — 16,060 — 43,113 Loans rated 5 138 — — 434 — 572 Loans rated 6 6,721 1,470 — 16,346 10 24,547 $ 303,036 $ 298,052 $ 43,512 $ 168,256 $ 1,534 $ 814,390

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT Premises and equipment are summarized as follows: December 31, 2016 2015 (In thousands) Land $ 5,651 $ 4,121 Buildings 19,191 13,738 Leasehold improvements 2,220 2,209 Furniture and equipment 14,090 12,334 Total 41,152 32,402 Accumulated depreciation and amortization (20,267 ) (18,838 ) Premises and equipment, net $ 20,885 $ 13,564 Depreciation and amortization expense for the years ended December 31, 2016, 2015 and 2014 amounted to $1.4 million, $1.3 million and $1.2 million, respectively. Estimates of the fair value of bank premises acquired based upon current information are still being evaluated by management and are not yet completed and may result in a change to the provisional fair values of bank premises acquired and goodwill upon completion.

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	5. GOODWILL AND OTHER INTANGIBLES Goodwill Goodwill for the year ended December 31, 2016 is summarized as follows: Year Ended (In thousands) Balance at beginning of the year $ — Acquisition of Chicopee 13,747 Balance at end of year $ 13,747 At December 31, 2016, the Company’s goodwill related to the acquisition of Chicopee in 2016. Annually, or more frequently if events or changes in circumstances warrant such evaluation, the Company evaluates its goodwill for impairment. No goodwill impairment was recorded for the year ended December 31, 2016. Core Deposit Intangibles In connection with the assumption of $545.7 million of deposit liabilities from the Chicopee acquisition in October 2016, of which $345.2 million were core deposits, the Bank recorded a core deposit intangible of $4.5 million. The resulting core deposit intangible is amortized over twelve years using the straight-line method. Core deposit intangibles are summarized as follows: Year Ended (In thousands) Core deposit intangible $ 4,511 Accumulated amortization 73 Core deposit intangible, net $ 4,438 Amortization expense was $73,000 for the year ended December 31, 2016. At December 31, 2016, future amortization of the core deposit intangible totals $376,000 for each of the next five years and $2.6 million thereafter.

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
DEPOSITS	6. DEPOSITS Deposit accounts by type are summarized as follows: At December 31, 2016 2015 Amount Amount (Dollars in thousands) Demand and interest-bearing: Interest-bearing accounts $ 82,406 $ 28,913 Demand deposits 303,993 157,844 Savings: Regular accounts 121,262 75,225 Money market accounts 437,467 242,647 Time certificates of deposit 572,943 395,734 Total deposits $ 1,518,071 $ 900,363 Time deposits of $250,000 or more totaled $133.8 million at December 31, 2016. Interest expense on time deposits of $250,000 or more totaled $1.0 million for the year ended December 31, 2016. At December 31, 2016, the scheduled maturities of time certificates of deposit are as follows: Year Ending December 31, Amount (In thousands) 2017 $ 321,078 2018 144,801 2019 54,508 2020 32,047 2021 20,509 $ 572,943 Interest expense on deposits for the years ended December 31, 2016, 2015 and 2014 is summarized as follows: Years Ended December 31, 2016 2015 2014 (In thousands) Regular $ 89 $ 79 $ 80 Money market 1,201 830 846 Time 5,144 4,583 4,152 Interest-bearing demand 147 79 99 $ 6,581 $ 5,571 $ 5,177 Cash paid for interest on deposits totaled $6.6 million, $5.6 million and $5.2 million for years ended December 31, 2016, 2015 and 2014, respectively.

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS	7. SHORT-TERM BORROWINGS FHLBB Advances – FHLBB advances, including line of credit advances, with an original maturity of less than one year, amounted to $155.0 million and $93.8 million at December 31, 2016 and 2015, respectively, at a weighted average rate of 0.78% and 0.44%, respectively. FHLBB advances are collateralized by a blanket lien on our residential real estate loans and eligible commercial real estate loans. BBN Advances PNC Advances Customer Repurchase Agreements Years Ended December 31, 2016 2015 (Dollars in thousands) Balance outstanding at end of year $ 17,351 $ 34,657 Maximum amount outstanding during year 50,124 48,582 Average amount outstanding during year 28,130 38,883 Weighted average interest rate at end of year 0.14 % 0.20 % Amortized cost of collateral pledged at end of year 80,106 67,440 Fair value of collateral pledged at end of year 82,218 69,948 Our repurchase agreements are collateralized by government-sponsored enterprise obligations with a fair value of $24.6 million and $6.5 million, and certain mortgage-backed securities with a fair value of $57.6 million and $63.5 million, at December 31, 2016 and 2015, respectively. The weighted average interest rate on the pledged collateral was 2.62% and 3.64% at December 31, 2016 and 2015, respectively. The securities collateralizing repurchase agreements are subject to fluctuations in fair value. We monitor the fair value of the collateral on a periodic basis, and would pledge additional collateral if necessary based on changes in fair value of collateral or the balances of the repurchase agreements. Cash paid for interest on short-term borrowings totaled $2.4 million, $1.1 million and $414,000 for years ended December 31, 2016, 2015 and 2014, respectively.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
LONG-TERM DEBT	8. LONG-TERM DEBT FHLBB Advances Amount Weighted Average Rate 2016 2015 2016 2015 (In thousands) Fixed-rate advances maturing: 2016 $ — $ 24,940 — % 1.3 % 2017 15,298 47,500 2.7 2.4 2018 28,789 20,000 1.9 2.0 2019 31,288 16,000 2.1 2.5 2020 16,782 7,000 1.7 1.8 2021 5,039 — 1.2 — 2022 4,804 — 1.9 — 2024 836 — 2.6 — 102,836 115,440 2.0 % 2.1 % Variable-rate advances maturing: 2016 — 10,000 1.7 2018 22,000 22,000 2.1 2.1 22,000 32,000 2.1 2.0 Total advances $ 124,836 $ 147,440 2.0 % 2.1 % At December 31, 2015, securities pledged as collateral to the FHLB had a carrying value of $212.3 million. There were no securities pledged as collateral to the FHLB at December 31, 2016. Customer Repurchase Agreements Cash paid for interest on long-term debt totaled $2.3 million, $4.1 million, and $4.3 million for years ended December 31, 2016, 2015 and 2014, respectively. During 2016, we prepaid FHLBB borrowings in the amount of $42.5 million with a weighted average rate of 2.29% and incurred a prepayment expense of $915,000.

STOCK PLANS AND EMPLOYEE STOCK

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN	9. STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN Stock Options – A summary of the status of our stock options at December 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted (in years) Aggregate (in thousands) Outstanding at December 31, 2015 — $ — — $ — Converted options upon merger 1,510,527 6.00 2.02 2,866 Exercised (331,628 ) 5.96 1.49 1,016 Outstanding at December 31, 2016 1,178,899 $ 6.01 1.98 $ 3,930 Exercisable at December 31, 2016 1,178,899 $ 6.01 1.98 $ 3,930 Cash received for options exercised during the year ended December 31, 2016 was $2.0 million. Restricted Stock Awards – In May 2014, our shareholders approved a new stock-based compensation plan under which up to 516,000 shares of our common stock were reserved for grants of stock awards, including stock options and restricted stock, which may be granted to any officer, key employee or non-employee director of WNEB. Authorized but unissued shares are issued to awardees upon vesting of such awards. Any shares not issued because vesting requirements are not met will again be available for issuance under the plans. In January 2015, 48,560 shares were granted under this plan and vest ratably over five years. The fair market value of shares awarded, based on the market price at the date of grant, was recorded as unearned compensation and is being amortized over the applicable vesting period. In 2016, the Compensation Committee (the “Committee”) approved the long-term incentive program (the “LTI Plan”). The LTI Plan provides a periodic award that is both performance and retention based in that it is designed to recognize the executive’s responsibilities, reward demonstrated performance and leadership and to retain such executives. The objective of the LTI Plan is to align compensation for the named executive officers and directors over a multi-year period directly with the interests of our shareholders by motivating and rewarding creation and preservation of long-term financial strength, shareholder value and relative shareholder return. The LTI Plan includes eligible officers of the Company who are nominated by the Company’s Chief Executive Officer and approved by the Committee. The LTI Plan is triggered by the Company’s achievement of satisfactory safety and soundness results from its most recent regulatory examination. Stock grants made through the 2016 LTI plan will be a combination of 50% time-vested restricted stock and 50% performance-based restricted stock. In May 2016, 62,740 shares were granted under the LTI Plan. Of this total, 36,543 shares are retention-based, with 10,352 vesting in one year and 26,191 vesting ratably over a three year period. The remaining 26,197 shares granted are performance based and are subject to the achievement of the 2016 LTI performance metric before vesting is realized after a three year period. For the performance shares, the primary performance metric for 2016 awards is return on equity. Performance shares will be earned based upon how the Company performs relative to threshold and target absolute goals (i.e. Company-specific, not relative to a peer index) over the three-year performance period. The threshold amount for the performance period will be a return on equity of 5.85% and a target amount of 6.32%. Participants will be able to earn between 50% (for threshold performance) and 100% of the target amount for the performance shares but will not earn additional shares if performance exceeds target performance. The fair market value of shares awarded, based on the market price at the date of grant, is recorded as unearned compensation and amortized over the applicable vesting period. Shares granted under performance-based conditions are monitored on a quarterly basis in order to compare actual results to the performance metric established, with any necessary adjustments being recognized through share-based compensation expense and unearned compensation. At December 31, 2016, an additional 404,700 shares were available for future grants under this plan. A summary of the status of unvested restricted stock awards at December 31, 2016 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2015 54,160 $ 7.28 Shares granted 62,740 7.73 Shares vested (25,529 ) 7.58 Balance at December 31, 2016 91,371 $ 7.51 The aggregate fair value of restricted stock vested during 2016 was $213,944. We recorded total expense for restricted stock awards of $262,000, $131,000 and $92,000 for the years ended December 31, 2016, 2015, and 2014, respectively. Tax benefits related to equity incentive plan expense were $89,000, $44,000 and $31,000 for the years ended December 31, 2016, 2015 and 2014, respectively. Unrecognized compensation cost for stock awards was $536,000 at December 31, 2016 with a remaining term of 2.07 years. Employee Stock Ownership Plan - In January 2007, as part of the second-step stock conversion, we provided an additional loan to the ESOP Trust which was used to purchase 4.0%, or 736,000 shares, of the 18,400,000 shares of common stock sold in the offering. The 2002 and 2007 loans bear interest equal to 8.0% and provide for annual payments of interest and principal. At December 31, 2016, the remaining principal balances are payable as follows: Year Ending December 31, Amount (In thousands) 2017 $ 447 2018 447 2019 447 2020 447 2021 447 Thereafter 5,631 $ 7,866 We have committed to make contributions to the ESOP sufficient to support the debt service of the loans. The loans are secured by the shares purchased, which are held in a suspense account for allocation among the participants as the loans are paid. Total compensation expense applicable to the ESOP amounted to $630,000, $582,000 and $576,000 for the years ended December 31, 2016, 2015 and 2014, respectively. Shares held by the ESOP include the following at December 31, 2016 and 2015: 2016 2015 Allocated 832,308 776,517 Committed to be allocated 79,082 76,888 Unallocated 884,781 963,863 Total 1,796,171 1,817,268 Cash dividends declared and received on allocated shares are allocated to participants and charged to retained earnings. Cash dividends declared and received on unallocated shares are held in suspense and are applied to repay the outstanding debt of the ESOP. The fair value of unallocated shares was $8.5 million and $8.1 million at December 31, 2016 and 2015, respectively. ESOP shares are considered outstanding for earnings per share calculations when they are committed to be allocated. Unallocated ESOP shares are excluded from earnings per share calculations. The cost of unearned shares to be allocated to ESOP participants for future services not yet performed is reflected as a reduction of shareholders’ equity.

RETIREMENT PLANS AND EMPLOYEE B

RETIREMENT PLANS AND EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
RETIREMENT PLANS AND EMPLOYEE BENEFITS	10. RETIREMENT PLANS AND EMPLOYEE BENEFITS Pension Plan The following table provides information for the Plan at or for the years ended December 31: Years Ended December 31, 2016 2015 2014 (In thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 22,458 $ 23,634 $ 19,039 Service cost 1,130 1,234 1,000 Interest 959 902 824 Actuarial (gain) loss 1,846 (2,040 ) 3,085 Benefits paid (574 ) (1,272 ) (314 ) Benefit obligation at end of year 25,819 22,458 23,634 Change in plan assets: Fair value of plan assets at beginning of year 15,233 15,947 13,811 Actual return (loss) on plan assets 1,039 (242 ) 1,725 Employer contribution 800 800 725 Benefits paid (574 ) (1,272 ) (314 ) Fair value of plan assets at end of year 16,498 15,233 15,947 Funded status and accrued benefit at end of year $ (9,321 ) $ (7,225 ) $ (7,687 ) Accumulated benefit obligation at end of year $ 19,027 $ 16,885 $ 16,423 The following actuarial assumptions were used in determining the pension benefit obligation: December 31, 2016 2015 Discount rate 4.15 % 4.35 % Rate of compensation increase 4.00 4.00 Net pension cost includes the following components for the years ended December 31: 2016 2015 2014 (In thousands) Service cost $ 1,130 $ 1,234 $ 1,000 Interest cost 959 902 824 Expected return on assets (1,097 ) (1,134 ) (959 ) Amortization of transition asset — — (10 ) Amortization of actuarial loss 102 118 — Net periodic pension cost $ 1,094 $ 1,120 $ 855 The following actuarial assumptions were used in determining the service costs for the years ended December 31: 2016 2015 2014 Discount rate 4.35 % 4.00 % 5.00 % Expected return on plan assets 7.50 7.50 7.50 Rate of compensation increase 4.00 4.00 4.00 The fair value of major categories of our pension plan assets are summarized below: December 31, 2016 Plan Assets Level 1 Level 2 Level 3 Fair Value (In thousands) Large U.S. equity $ — $ 4,346 $ — $ 4,346 Small/mid U.S. equity — 782 — 782 International equity — 1,730 — 1,730 Balanced/asset allocation — 332 — 332 Fixed income — 9,308 — 9,308 $ — $ 16,498 $ — $ 16,498 December 31, 2015 Plan Assets Level 1 Level 2 Level 3 Fair Value (In thousands) Large U.S. equity $ — $ 3,962 $ — $ 3,962 Small/mid U.S. equity — 926 — 926 International equity — 1,495 — 1,495 Balanced/asset allocation — 741 — 741 Fixed income — 8,109 — 8,109 $ — $ 15,233 $ — $ 15,233 Plan assets are all measured at fair value in Level 2 and are based on pricing models that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. The asset or liability fair value measurement level within fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The plan reports bonds and other obligations, short-term investments and equity securities at fair value based on published quotations. Collective funds are valued in accordance with valuations provided by such Funds, which generally value marketable equity securities at the last reported sales price on the valuation date and other investments at fair value, as determined by each Fund’s manager. The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future values. Furthermore, although management believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The defined benefit plan offers a mixture of fixed income, equity and real assets as the underlying investment structure for its retirement structure for the pension plan. The target allocation mix for the pension plan for 2016 was an equity-based investment deployment of 43% of total portfolio assets based on advice received from an external advisory firm with confirmation by the Bank’s Investment Committee. The remainder of the portfolio is allocated to fixed income at 57% of total assets. The investment objective is to diversify investments across a spectrum of investment types to limit risks from large market swings and to provide anticipated stabilized investment returns. Trustees of the Plan select investment managers for the portfolio and a second investment advisory firm is retained to provide allocation analysis. The overall investment objective is to diversify equity investments across a spectrum of types, small cap, large cap and international, along with investment styles such as growth and value. We estimate that the benefits to be paid from the pension plan for years ended December 31 are as follows: Year Benefit Payments to Participants (In thousands) 2017 $ 622 2018 1,235 2019 1,077 2020 1,045 2021 1,184 In aggregate for 2022 – 2026 13,965 We have not yet determined the amount of the contribution we expect to make to the plan during the fiscal year ending December 31, 2017. 401(k)

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	11. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our assets and liabilities and the use of derivative financial instruments. Specifically, we entered into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to certain variable rate borrowings. Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of December 31, 2016. December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (In thousands) Interest rate swaps Other Assets $ — Other Liabilities $ 3,152 Total derivatives designated as hedging instruments $ — $ 3,152 December 31, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Fair Value (In thousands) Interest rate swaps Other Assets $ — Other Liabilities $ 6,064 Total derivatives designated as hedging instruments $ — $ 6,064 At December 31, 2016 and 2015, all derivatives were designated as hedging instruments. Cash Flow Hedges of Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest income and expense and to manage our exposure to interest rate movements. To accomplish this objective, we entered into interest rate swaps in September 2013 as part of our interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for our making fixed payments. The following table presents information about our cash flow hedges at December 31, 2016 and 2015: December 31, 2016 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 75,000 3.4 0.92 % 2.46 % $ (3,152 ) Total cash flow hedges $ 75,000 3.4 $ (3,152 ) December 31, 2015 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Received Paid Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 2.3 0.32 % 1.52 % $ (330 ) Forward starting interest rate swaps on FHLBB borrowings 67,500 6.5 — 3.42 % (5,734 ) Total cash flow hedges $ 107,500 4.9 $ (6,064 ) During 2016, we terminated a forward-starting interest rate swap with a notional amount of $32.5 million and incurred a termination fee of $3.4 million. During 2015, we terminated forward-starting interest rate swaps with a notional amount of $47.5 million and incurred a termination fee of $2.4 million. The termination fees will be amortized as a reclassification of other comprehensive income into interest expense over the terms of the previously hedged borrowings, which were six and five years for the swaps terminated in 2016 and 2015, respectively. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings. The ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. We assess the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. We did not recognize any hedge ineffectiveness in earnings in 2016 or 2015. We are hedging our exposure to the variability in future cash flows for forecasted borrowings over a maximum period of six years (excluding forecasted payment of variable interest on existing financial instruments). The table below presents the pre-tax net loss of our cash flow hedges for the periods indicated. Amount of Loss Recognized in OCI on Derivative (Effective Portion) Years Ended December 31, 2016 2015 2014 (In thousands) Interest rate swaps $ (1,126 ) $ (3,337 ) $ (7,684 ) Amounts reported in accumulated other comprehensive loss related to these derivatives are reclassified to interest expense as interest payments are made on our designated rate sensitive liabilities. During the years ended December 31, 2016, 2015 and 2014, we reclassified $1.6 million, $742,000 and $190,000 into interest expense, respectively. During the next 12 months, we estimate that $2.1 million will be reclassified as an increase in interest expense. During the years ended December 31, 2016, 2015 and 2014, no gains or losses were reclassified from accumulated other comprehensive loss into income for ineffectiveness on cash flow hedges. Credit-risk-related Contingent Features By using derivative financial instruments, we expose the Company to credit risk. Credit risk is the risk of failure by the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. When the fair value of a derivative is negative, we owe the counterparty and, therefore, it does not possess credit risk. The credit risk in derivative instruments is mitigated by entering into transactions with highly-rated counterparties that we believe to be creditworthy and by limiting the amount of exposure to each counterparty. We have agreements with our derivative counterparties that contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. We also have agreements with certain of our derivative counterparties that contain a provision where if we fail to maintain our status as well capitalized, then the counterparty could terminate the derivative positions and we would be required to settle our obligations under the agreements. Certain of our agreements with our derivative counterparties contain provisions where if a formal administrative action by a federal or state regulatory agency occurs that materially changes our creditworthiness in an adverse manner, we may be required to fully collateralize our obligations under the derivative instrument. At December 31, 2016 and 2015, we had a net liability position of $3.2 million and $6.2 million with our counterparties, respectively. As of December 31, 2016, we had minimum collateral posting thresholds with certain of our derivative counterparties and had a mortgage-backed security with a fair value of $4.5 million posted as collateral against our obligations under these agreements. If we had breached any of these provisions at December 31, 2016, we could have been required to settle our obligations under the agreements at the termination value.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
REGULATORY CAPITAL	12. REGULATORY CAPITAL The Bank is subject to various regulatory capital requirements administered by the Office of Comptroller of the Currency (the “OCC”). Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on our consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to savings and loan holding companies. Effective January 1, 2015, federal banking regulations changed with regard to minimum capital requirements for community banking institutions. The regulations require a minimum ratio of common equity Tier 1 capital to risk-weighted assets of 4.5%, a minimum ratio of Tier 1 capital to risk-weighted assets of 6% and a minimum leverage ratio of 4% for all banking organizations. Additionally, community banking institutions must maintain a capital conservation buffer of common equity Tier 1 capital, Tier 1 capital or Total capital in an amount greater than 2.5% of total risk-weighted assets to avoid being subject to limitations on capital distributions and discretionary bonuses. The capital conservation buffer will be phased in over three years, beginning on January 1, 2016, with an initial phase-in amount of 0.625%. Also, certain new deductions from and adjustments to regulatory capital will be phased in over several years. Management believes that the Company’s capital levels will remain characterized as “well-capitalized” throughout the phase in periods. Western New England Bancorp’s and the Bank’s capital ratios as of December 31, 2016 and 2015 are set forth in the following table. As of December 31, 2016, the most recent notification from the OCC categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” the Bank must maintain minimum total risk-based, Tier 1 risk based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since that notification that management believes have changed the Bank’s category. Actual Minimum For Capital Adequacy Purpose Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2016 Total Capital (to Risk Weighted Assets Consolidated $ 245,389 15.10 % $ 130,037 8.00 % N/A N/A Bank 237,626 14.64 129,879 8.00 $ 162,349 10.00 % Tier 1 Capital ( to Risk Weighted Assets Consolidated 235,261 14.47 97,528 6.00 N/A N/A Bank 227,498 14.01 97,409 6.00 129,879 8.00 Common Equity Tier 1 Capital ( to Risk Weighted Assets Consolidated 235,261 14.47 73,146 4.50 N/A N/A Bank 227,498 14.01 73,057 4.50 105,527 6.50 Tier 1 Leverage Ratio ( to Adjusted Average Assets Consolidated 235,261 12.19 77,187 4.00 N/A N/A Bank 227,498 11.86 76,745 4.00 95,931 5.00 December 31, 2015 Total Capital (to Risk Weighted Assets Consolidated $ 159,386 17.20 % $ 74,136 8.00 % N/A N/A Bank 151,327 16.36 74,006 8.00 $ 92,508 10.00 % Tier 1 Capital ( to Risk Weighted Assets Consolidated 150,444 16.23 55,602 6.00 N/A N/A Bank 142,427 15.40 55,505 6.00 74,006 8.00 Common Equity Tier 1 Capital ( to Risk Weighted Assets Consolidated 150,444 16.23 41,702 4.50 N/A N/A Bank 142,427 15.40 41,629 4.50 60,130 6.50 Tier 1 Leverage Ratio ( to Adjusted Average Assets Consolidated 150,444 11.16 53,876 4.00 N/A N/A Bank 142,427 10.58 53,871 4.00 67,339 5.00 The following is a reconciliation of our GAAP capital to regulatory Tier 1, Common Equity Tier 1 and total capital: December 31, 2016 2015 (In thousands) Consolidated GAAP capital $ 238,396 $ 139,466 Net unrealized losses on available-for-sale securities, net of tax 3,839 3,046 Unrealized loss on defined benefit pension plan, net of tax 3,618 2,431 Accumulated net loss on cash flow hedges, net of tax 5,204 5,501 Unrealized loss on certain available-for-sale equity securities (191 ) — Disallowed deferred tax assets (155 ) — Goodwill (13,747 ) — Intangible assets, net of associated deferred tax liabilities (1,599 ) — Additional tier 1 capital deductions (104 ) — Tier 1 and Common Equity Tier 1 capital 235,261 150,444 Unrealized gains on certain available-for-sale equity securities — 42 Allowance for loan losses and unfunded loan commitments 10,128 8,900 Total regulatory capital $ 245,389 $ 159,386 On March 13, 2014, the Board of Directors authorized the commencement of our current stock repurchase program, authorizing the repurchase of up to 1,970,000 shares, or 10% of our outstanding shares of common stock. On June 24, 2015, the Board of Directors announced a renewal of the repurchase program under which the Company may purchase up to 711,733 shares of its outstanding common stock, to be affected via a combination of Rule 10b5-1 plans and discretionary share repurchases. This plan began July 24, 2015 and as of December 31, 2016, there were 484,668 shares remaining to be purchased under the new repurchase program. We are subject to dividend restrictions imposed by various regulators, including a limitation on the total of all dividends that the Bank may pay to the Company in any calendar year, to an amount that shall not exceed the Bank’s net income for the current year, plus its net income retained for the two previous years, without regulatory approval. At December 31, 2016 and 2015, the Bank had no retained earnings available for payment of dividends without prior regulatory approval. In addition, the Bank may not declare or pay dividends on, and we may not repurchase, any of our shares of common stock if the effect thereof would cause shareholders’ equity to be reduced below applicable regulatory capital maintenance requirements or if such declaration, payment or repurchase would otherwise violate regulatory requirements. The Bank will be prohibited from paying cash dividends to the Company to the extent that any such payment would reduce the Bank’s capital below required capital levels. Accordingly, $129.9 million and $74.0 million of our equity in the net assets of the Bank was restricted at December 31, 2016 and 2015, respectively. The only funds available for the payment of dividends on our capital stock will be cash and cash equivalents held by us, dividends paid from the Bank to us, and borrowings.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	13. INCOME TAXES Income taxes consist of the following: Years Ended December 31, 2016 2015 2014 (In thousands) Current tax provision: Federal $ 1,925 $ 2,036 $ 1,854 State 370 319 221 Total 2,295 2,355 2,075 Deferred tax (benefit) provision: Federal 262 (203 ) (172 ) State 10 (82 ) (52 ) Change in valuation reserve 2 54 31 Total 274 (231 ) (193 ) Total $ 2,569 $ 2,124 $ 1,882 The reasons for the differences between the statutory federal income tax rate and the effective rates are summarized below: Years Ended December 31, 2016 2015 2014 Statutory federal income tax rate 34.0 % 34.0 % 34.0 % Increase (decrease) resulting from: State taxes, net of federal tax benefit 3.4 1.6 1.2 Tax exempt income (2.6 ) (3.2 ) (4.1 ) Bank-owned life insurance (BOLI) (7.2 ) (6.6 ) (6.4 ) Nondeductible merger expenses 8.3 — — Change in valuation reserve — 0.7 0.4 Other, net (1.2 ) 0.6 (1.7 ) Effective tax rate 34.7 % 27.1 % 23.4 % Cash paid for income taxes for the years ended December 31, 2016, 2015 and 2014 was $2.6 million, $2.4 million and $2.0 million, respectively. The tax effects of each item that gives rise to deferred taxes are as follows: December 31, 2016 2015 (In thousands) Deferred tax assets: Allowance for loan losses $ 4,021 $ 3,531 Net unrealized loss on derivative and hedging activity 2,681 2,833 Employee benefit and share-based compensation plans 3,220 2,682 Defined benefit plan 1,864 1,254 Net unamortized loss on securities transferred from available for sale to held to maturity — 799 Net unrealized loss on securities available for sale 2,024 812 Other-than-temporary impairment write-down 129 129 Purchased mortgage servicing rights 562 — Purchase accounting adjustments 1,824 — Net operating loss and tax credit carryforwards 1,320 — Other 787 648 Gross deferred tax assets 18,432 12,688 Valuation reserve (973 ) (971 ) Gross deferred tax assets, net of valuation reserve 17,459 11,717 Deferred tax liabilities: Deferred loan fees (1,268 ) (759 ) Other (32 ) (77 ) (1,300 ) (836 ) Net deferred tax asset $ 16,159 $ 10,881 The federal income tax reserve for loan losses at the Bank’s base year is $5.8 million. If any portion of the reserve is used for purposes other than to absorb loan losses, approximately 150% of the amount actually used, limited to the amount of the reserve, would be subject to taxation in the fiscal year in which used. As the Bank intends to use the reserve solely to absorb loan losses, a deferred tax liability of $2.4 million has not been provided. We do not have any uncertain tax positions at December 31, 2016 or 2015 which require accrual or disclosure. We record interest and penalties as part of income tax expense. No interest was recorded for the years ended December 31, 2016 and 2015, and no penalties were recorded for the years ended December 31, 2016, 2015 and 2014. Our income tax returns are subject to review and examination by federal and state tax authorities. We are currently open to audit under the applicable statutes of limitations by the Internal Revenue Service for the years ended December 31, 2013 through 2016. The years open to examination by state taxing authorities vary by jurisdiction; however, no years prior to 2013 are open. The Company had net operating loss carryforwards brought over in the Chicopee merger of $3.5 million, which will expire in 2036 if unused.

TRANSACTIONS WITH DIRECTORS AND

TRANSACTIONS WITH DIRECTORS AND EXECUTIVE OFFICERS	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
TRANSACTIONS WITH DIRECTORS AND EXECUTIVE OFFICERS	14. TRANSACTIONS WITH DIRECTORS AND EXECUTIVE OFFICERS We have had, and expect to have in the future, loans with our directors and executive officers. Such loans, in our opinion, do not include more than the normal risk of collectability or other unfavorable features. Following is a summary of activity for such loans: Years Ended December 31, 2016 2015 (In thousands) Balance at beginning of year $ 1,038 $ 2,881 Principal distributions 554 534 Repayments of principal (156 ) (707 ) Change in related party status 39 (1,670 ) Balance at end of year $ 1,475 $ 1,038

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
OMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES In the normal course of business, various commitments and contingent liabilities are outstanding, such as standby letters of credit and commitments to extend credit with off-balance-sheet risk that are not reflected in the consolidated financial statements. Financial instruments with off-balance-sheet risk involve elements of credit, interest rate, liquidity and market risk. We do not anticipate any significant losses as a result of these transactions. The following summarizes these financial instruments and other commitments and contingent liabilities at their contract amounts: December 31, 2016 2015 (In thousands) Commitments to extend credit: Unused lines of credit $ 217,193 $ 120,039 Loan commitments 41,285 41,496 Existing construction loan agreements 35,702 37,844 Standby letters of credit 7,090 3,865 We use the same credit policies in making commitments and conditional obligations as for on balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some commitments expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. We evaluate each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by us upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. We also have two risk participation agreements (“RPAs”) with another financial institution. The RPAs are a guarantee to share credit risk associated with an interest rate swap on participation loans in the event of counterparty default. As such, we accept a portion of the credit risk in order to participate in the loans and we receive a one-time fee. The interest rate swap is collateralized (generally by real estate or business assets) by us and the third party, which limits the credit risk associated with the RPAs. Per the terms of the RPAs, we must pledge collateral equal to our exposure for the interest rate swap. We monitor overall collateral as part of our off-balance sheet liability analysis, and at December 31, 2016, believe sufficient collateral is available to cover potential swap losses. At December 31, 2016, we had one RPA with a fair value of $522,000. The remaining term of this RPA at December 31, 2016, which corresponds to the term of the underlying swaps, was 10 years. In addition, we had an RPA with a fair value of $153,000 and a remaining term of 20 years at December 31, 2016. Under these agreements we guarantee a percentage of the amount in the event of a default. The maximum potential future payment guaranteed by us cannot be readily estimated, but is dependent upon the fair value of the interest rate swaps and the probability of a default event. If an event of default on all contracts had occurred at December 31, 2016, we would have been required to make payments of approximately $310,000. Standby letters of credit are written conditional commitments issued by us that guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. At December 31, 2016, outstanding commitments to extend credit totaled $301.3 million, with $40.0 million in fixed rate commitments with interest rates ranging from 1.99% to 18.00% and $261.3 million in variable rate commitments. At December 31, 2015, outstanding commitments to extend credit totaled $203.2 million, with $35.7 million in fixed rate commitments with interest rates ranging from 2.25% to 18.00% and $167.5 million in variable rate commitments. In the ordinary course of business, we are party to various legal proceedings, none of which, in our opinion, will have a material effect on our consolidated financial position or results of operations. We lease facilities and certain equipment under cancelable and non-cancelable leases expiring in various years through the year 2047. Certain of the leases provide for renewal periods for up to forty years at our discretion. Rent expense under operating leases was $798,000, $677,000, and $707,000 for the years ended December 31, 2016, 2015, and 2014, respectively. Aggregate future minimum rental payments under the terms of non-cancelable operating leases at December 31, 2016, are as follows: Year Ending Amount (In thousands) 2017 $ 1,172 2018 1,088 2019 1,043 2020 934 2021 879 Thereafter 8,970 $ 14,086 Investment Commitments The Bank is a limited partner in one Small Business Investment Company (“SBIC”) and committed to contribute capital of $3.0 million to the limited partnerships. The SBIC currently has no net book value at December 31, 2016, net of impairment charges and distributions are included in other assets. Employment and change of control agreements We have entered into employment and change of control agreements with certain senior officers. The initial term of the employment agreements is for three years subject to separate one-year extensions as approved by the Board of Directors at the end of each applicable fiscal year. Each employment agreement provides for minimum annual salaries, discretionary cash bonuses and other fringe benefits as well as severance benefits upon certain terminations of employment that are not for cause. The change of control agreements expire one year following a notice of non-extension and only provide for severance benefits upon certain terminations of employment that are not for cause and that are related to a change of control of the Company or the Bank.

CONCENTRATIONS OF CREDIT RISK

CONCENTRATIONS OF CREDIT RISK	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF CREDIT RISK	16. CONCENTRATIONS OF CREDIT RISK Most of our loans consist of residential and commercial real estate loans located in western Massachusetts. As of December 31, 2016 and 2015, our residential and commercial related real estate loans represented 85.5% and 79.2% of total loans, respectively. Our policy for collateral requires that the amount of the loan may not exceed 100% and 85% of the appraised value of the property for residential and commercial real estate, respectively, at the date the loan is granted. For residential loans, in cases where the loan exceeds 80%, private mortgage insurance is typically obtained for that portion of the loan in excess of 80% of the appraised value of the property.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	17. FAIR VALUE OF ASSETS AND LIABLITIES Determination of Fair Value We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for our various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Methods and assumptions for valuing our financial instruments are set forth below. Estimated fair values are calculated based on the value without regard to any premium or discount that may result from concentrations of ownership of a financial instrument, possible tax ramifications or estimated transaction cost. Cash and cash equivalents - Securities and mortgage-backed securities Federal Home Loan Bank and other stock Loans receivable - Accrued interest - Deposit liabilities - Short-term borrowings and long-term debt - Interest rate swaps Commitments to extend credit Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below: December 31, 2016 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored mortgage-backed securities $ — $ 180,136 $ — $ 180,136 U.S. government guaranteed mortgage-backed securities — 17,350 — 17,350 Corporate bonds — 50,317 — 50,317 State and municipal bonds — 4,008 — 4,008 Government-sponsored enterprise obligations — 42,008 — 42,008 Mutual funds 6,296 — — 6,296 Total assets $ 6,296 $ 293,819 $ — $ 300,115 Liabilities: Interest rate swaps $ — $ 3,152 $ — $ 3,152 December 31, 2015 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored mortgage-backed securities $ — $ 135,959 $ — $ 135,959 U.S. government guaranteed mortgage-backed securities — 10,903 — 10,903 Corporate bonds — 21,136 — 21,136 State and municipal bonds — 2,801 — 2,801 Government-sponsored enterprise obligations — 3,951 — 3,951 Mutual funds 6,247 — — 6,247 Common and preferred stock 1,593 — — 1,593 Total assets $ 7,840 $ 174,750 $ — $ 182,590 Liabilities: Interest rate swaps $ — $ 6,064 $ — $ 6,064 There were no transfers to or from Level 1 and 2 for assets measured at fair value on a recurring basis during the years ended December 31, 2016 and 2015. Assets Measured at Fair Value on a Non-recurring Basis We may also be required, from time to time, to measure certain other financial assets on a nonrecurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2016 and 2015. At Year Ended December 31, 2016 December 31, 2016 Total Level 1 Level 2 Level 3 Losses (In thousands) (In thousands) Impaired Loans $ — $ — $ 2,143 $ 230 Total Assets $ — $ — $ 2,143 $ 230 At Year Ended December 31, 2015 December 31, 2015 Total Level 1 Level 2 Level 3 Losses (In thousands) (In thousands) Impaired Loans $ — $ — $ 2,111 $ 224 Total Assets $ — $ — $ 2,111 $ 224 The amount of impaired loans represents the carrying value, and net of the related write-down or valuation allowance of impaired loans for which adjustments are based on the estimated fair value of the underlying collateral. The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on real estate appraisals performed by independent licensed or certified appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management will discount appraisals as deemed necessary based on the date of the appraisal and new information deemed relevant to the valuation. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The resulting losses were recognized in earnings through the provision for loan losses. There were no liabilities measured at fair value on a non-recurring basis at December 31, 2016 and 2015. Summary of Fair Values of Financial Instruments The estimated fair values of our financial instruments are as follows: December 31, 2016 Carrying Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 70,234 $ 70,234 $ — $ — $ 70,234 Securities available-for-sale 300,115 6,296 293,819 — 300,115 Federal Home Loan Bank of Boston and other restricted stock 16,124 — — 16,124 16,124 Loans - net 1,556,416 — — 1,525,274 1,525,274 Accrued interest receivable 5,782 — — 5,782 5,782 Mortgage servicing rights 465 — 628 — 628 Liabilities: Deposits 1,518,071 — — 1,521,580 1,521,580 Short-term borrowings 172,351 — 172,351 — 172,351 Long-term debt 124,836 — 125,183 — 125,183 Accrued interest payable 1,012 — — 1,012 1,012 Derivative liabilities 3,152 — 3,152 — 3,152 December 31, 2015 Carrying Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 13,703 $ 13,703 $ — $ — $ 13,703 Securities available-for-sale 182,590 7,840 174,750 — 182,590 Securities held-to-maturity 238,219 — 237,619 — 237,619 Federal Home Loan Bank of Boston and other restricted stock 15,074 — — 15,074 15,074 Loans - net 809,373 — — 797,596 797,596 Accrued interest receivable 3,878 — — 3,878 3,878 Derivative assets — — — — — Liabilities: Deposits 900,363 — — 901,400 901,400 Short-term borrowings 128,407 — 128,407 — 128,407 Long-term debt 153,358 — 155,433 — 155,433 Accrued interest payable 446 — — 446 446 Derivative liabilities 6,064 — 6,064 — 6,064 Limitations

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	18. SEGMENT INFORMATION We have one reportable segment, “Community Banking.” All of our activities are interrelated, and each activity is dependent and assessed based on how each of the activities supports the others. For example, commercial lending is dependent upon the ability of the Bank to fund itself with retail deposits and other borrowings and to manage interest rate and credit risk. This situation is also similar for consumer and residential mortgage lending. Accordingly, all significant operating decisions are based upon our analysis as one operating segment or unit. We operate only in the U.S. domestic market, primarily in western Massachusetts and northern Connecticut. For the years ended December 31, 2016, 2015 and 2014, there is no customer that accounted for more than 10% of our revenue.

CONDENSED PARENT COMPANY FINANC

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED PARENT COMPANY FINANCIAL STATEMENTS	19. CONDENSED PARENT COMPANY FINANCIAL STATEMENTS The condensed balance sheets of the parent company are as follows: December 31, 2016 2015 (In thousands) ASSETS: Cash equivalents $ 972 $ 53 Securities available-for-sale — 1,593 Investment in subsidiaries 230,633 131,387 ESOP loan receivable 7,866 8,375 Other assets 7,468 6,683 TOTAL ASSETS 246,939 148,091 LIABILITIES: ESOP loan payable 7,866 8,375 Other liabilities 677 250 EQUITY 238,396 139,466 TOTAL LIABILITIES AND EQUITY $ 246,939 $ 148,091 The condensed statements of income for the parent company are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) INCOME: Dividends from subsidiaries $ 3,499 $ 6,557 $ 14,712 Interest income from securities 32 20 31 ESOP loan interest income 670 706 741 Gain on sales of securities, net 451 — — Total income 4,652 7,283 15,484 OPERATING EXPENSE: Salaries and employee benefits 926 743 697 ESOP interest 670 706 741 Other expenses 507 556 503 Total operating expense 2,103 2,005 1,941 INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES AND INCOME TAXES 2,549 5,278 13,543 EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF SUBSIDIARIES 1,955 90 (7,655 ) NET INCOME BEFORE TAXES 4,504 5,368 5,888 INCOME TAX BENEFIT (330 ) (347 ) (274 ) NET INCOME $ 4,834 $ 5,715 $ 6,162 The condensed statements of cash flows of the parent company are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) OPERATING ACTIVITIES: Net income $ 4,834 $ 5,715 $ 6,162 Equity in undistributed (income) loss of subsidiaries (1,955 ) (90 ) 7,655 Gain on sales of securities, net (451 ) — — Change in other liabilities (597 ) (409 ) (409 ) Change in other assets (271 ) (52 ) 175 Other, net 1,049 713 667 Net cash provided by operating activities 2,609 5,877 14,250 INVESTING ACTIVITIES: Purchase of securities (116 ) (125 ) (235 ) Sales of securities 116 125 235 Net cash provided by investing activities — — — FINANCING ACTIVITIES: Cash dividends paid (2,439 ) (2,098 ) (3,832 ) Common stock repurchased (1,378 ) (3,906 ) (10,518 ) Tender offer to purchase outstanding options — — 121 Excess tax benefit (shortfall) from share-based compensation 156 2 (1 ) Issuance of common stock in connection with stock option Exercises 1,971 — — Net cash used in financing activities (1,690 ) (6,002 ) (14,230 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 919 (125 ) 20 CASH AND CASH EQUIVALENTS Beginning of year 53 178 158 End of year $ 972 $ 53 $ 178 Supplemental cashflow information: Net cash due to broker for common stock repurchased $ 455 $ — $ —

OTHER NONINTEREST EXPENSE

OTHER NONINTEREST EXPENSE	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
OTHER NONINTEREST EXPENSE	20. OTHER NONINTEREST EXPENSE There is no item that as a component of other noninterest expense exceeded 1% of the aggregate of total interest income and noninterest income for the years ended December 31, 2016, 2015 and 2014.

SUMMARY OF QUARTERLY FINANCIAL

SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	21. SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following tables present a summary of our quarterly financial information for the periods indicated. The year to date totals may differ slightly due to rounding. 2016 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars in thousands, except per share amounts) Interest and dividend income $ 10,961 $ 10,554 $ 10,977 $ 16,106 Interest expense 2,718 2,552 2,649 3,366 Net interest and dividend income 8,243 8,002 8,328 12,740 Provision (credit) for loan losses (600 ) 625 375 175 Other noninterest income 1,245 1,262 1,322 1,918 Loss on prepayment of borrowings (915 ) — — — Gain (loss) on sales of securities, net 685 (2 ) 1 455 Noninterest expense 7,072 7,998 8,225 12,011 Income before income taxes 2,786 639 1,051 2,927 Income tax provision 822 250 423 1,074 Net income $ 1,964 $ 389 $ 628 $ 1,853 Basic earnings per share $ 0.11 $ 0.02 $ 0.04 $ 0.07 Diluted earnings per share $ 0.11 $ 0.02 $ 0.04 $ 0.07 2015 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars in thousands, except per share amounts) Interest and dividend income $ 10,188 $ 10,494 $ 10,974 $ 10,820 Interest expense 2,598 2,715 2,814 2,667 Net interest and dividend income 7,590 7,779 8,160 8,153 Provision for loan losses 300 350 150 475 Other noninterest income 1,005 1,247 1,163 1,243 Loss on prepayment of borrowings (593 ) (278 ) (429 ) — Gain (loss) on sales of securities, net 817 276 414 (1 ) Noninterest expense 6,711 6,865 6,867 6,990 Income before income taxes 1,808 1,809 2,291 1,930 Income tax provision 470 445 680 529 Net income $ 1,338 $ 1,364 $ 1,611 $ 1,401 Basic earnings per share $ 0.08 $ 0.08 $ 0.09 $ 0.08 Diluted earnings per share $ 0.08 $ 0.08 $ 0.09 $ 0.08

ACQUISITION OF CHICOPEE BANCORP

ACQUISITION OF CHICOPEE BANCORP, INC.	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
ACQUISITION OF CHICOPEE BANCORP, INC.	22. ACQUISITION OF CHICOPEE BANCORP, INC. On October 21, 2016, we acquired Chicopee. The primary purpose of the acquisition with Chicopee was to expand our presence in western Massachusetts and diversify our market area. The transaction qualified as a tax-free reorganization for federal income tax purposes. Merger consideration paid in the transaction to shareholders of Chicopee totaled $98.8 million, consisting of 11,919,412 shares of Company common stock net of shares of Chicopee already owned and shares of Chicopee’s ESOP liquidated to payoff loan. We accounted for the transaction using the acquisition method. Accordingly, we recorded acquisition expenses totaling $4.1 million (pre-tax) during 2016. The acquisition method requires an acquirer to recognize the assets acquired and the liabilities assumed at fair value as of the acquisition date. Additionally, our results of operations include Chicopee’s operating results from the date of acquisition. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of the acquisition (in thousands). Assets: Cash and cash equivalents $ 23,808 Loans receivable, net 640,892 Premises and equipment 7,284 Federal Home Loan Bank stock 4,176 Goodwill 13,747 Core deposit intangible 4,511 Bank-owned life insurance 15,150 Accrued interest receivable 1,440 Deferred tax asset, net 4,688 Other assets 899 Total assets acquired 716,595 Liabilities: Deposits 545,669 FHLB Advances 63,252 Accrued expense and other liabilities 8,882 Total liabilities assumed 617,803 Net assets acquired $ 98,792 As noted above, we acquired loans with a fair value of $640.9 million. Included in this amount was $28.8 million of loans with evidence of deterioration of credit quality since origination for which it was probable, at the time of the acquisition, that the Company would be unable to collect all contractually required payments receivable. We recorded a provisional nonaccretable credit discount of $8.5 million, which is defined as the loans’ contractually required payments receivable in excess of the amount of its cash flows expected to be collected. We considered factors such as payment history, collateral values and accrual status when determining whether there was evidence of deterioration of the loans’ credit quality at the acquisition date. A provisional accretable credit mark of $7.7 million was also recorded on these loans. The analysis over the purchased impaired loans and related provisional credit marks as of December 31, 2016 is not yet completed and may result in a change to these provisional credit marks and goodwill upon completion. In addition, estimates of the fair value of bank premises acquired based upon current information are still being evaluated by management and are not yet completed and may result in a change to the provisional fair values of bank premises acquired and goodwill upon completion. The following table presents selected unaudited pro forma financial information reflecting the acquisitions of Chicopee assuming the acquisitions were completed as of January 1, 2015. The unaudited pro forma financial information includes adjustments for scheduled amortization and accretion of fair value adjustments recorded at the acquisitions. These adjustments would have been different if they had been recorded on January 1, 2015, and they do not include the impact of prepayments. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the combined financial results of the Company and the acquisition had the transactions actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full-year period. The unaudited pro forma information, for the twelve months ended December 31, 2016 and 2015, set forth below reflects adjustments related to (a) amortization and accretion of purchase accounting fair value adjustments; (b) amortization of core deposit intangibles; and (c) an estimated tax rate of 34 percent. Direct acquisition expenses incurred by the Company during 2016, as noted above, are reversed for the purposes of this unaudited pro forma information. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing or anticipated cost-savings that could occur as a result of the acquisition. Years Ended December 31, 2016 2015 (In thousands, except per share amounts) Net interest income $ 55,185 $ 53,487 Net income 10,329 8,717 Earnings per share – Basic 0.35 0.30 Earnings per share – Diluted 0.35 0.29

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The Bank’s deposits are insured to the limits specified by the Federal Deposit Insurance Corporation (“FDIC”). The Bank operates 21 banking offices in western Massachusetts and Granby and Enfield, Connecticut, and its primary sources of revenue are earnings on loans to small and middle-market businesses and to residential property homeowners and income from securities. Elm Street Securities Corporation, a Massachusetts-chartered corporation, was formed by us for the primary purpose of holding qualified securities. In February 2007, we formed WFD Securities, Inc., a Massachusetts-chartered corporation, for the primary purpose of holding qualified securities. In October 2009, we formed WB Real Estate Holdings, LLC, a Massachusetts-chartered limited liability company, for the primary purpose of holding real property acquired as security for debts previously contracted by the Bank. On October 21, 2016, we acquired Chicopee Bancorp, Inc. (“Chicopee”), the holding company for Chicopee Savings Bank. The acquisition added eight full-service banking offices located in western Massachusetts. See Note 22 - Acquisition of Chicopee Bancorp, Inc. for additional details. In conjunction with the acquisition of Chicopee, we acquired CSB Colts, Inc., a Massachusetts-chartered corporation, formed for the primary purpose of holding qualified securities.
Principles of Consolidation	Principles of Consolidation
Estimates	Estimates
Reclassifications	Reclassifications –
Cash and Cash Equivalents	Cash and Cash Equivalents
Securities and Mortgage-Backed Securities	Securities and Mortgage-Backed Securities Realized gains and losses on sales of securities and mortgage-backed securities are computed using the specific identification method and are included in noninterest income on the trade date. The amortization of premiums and accretion of discounts is determined by using the level yield method to the maturity date.
Derivatives	Derivatives -
Other-than-Temporary Impairment of Securities	Other-than-Temporary Impairment of Securities
Fair Value Hierarchy	Fair Value Hierarchy Level 1 – Valuation is based on quoted prices in active markets for identical assets. Level 1 assets generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets and liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Transfers between levels are recognized at the end of a reporting period, if applicable.
Federal Home Loan Bank of Boston Stock	Federal Home Loan Bank of Boston Stock
Loans Held for Sale	Loans Held for Sale
Loans Receivable	Loans Receivable
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, commercial and industrial, and consumer. Residential real estate loans include classes for residential and home equity. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: trends in delinquencies and nonperforming loans; trends in volume and terms of loans; internal credit ratings; effects of changes in risk selection; underwriting standards and other changes in lending policies, procedures and practices; and national and local economic trends and industry conditions. There were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during 2016. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Commercial real estate – Loans in this segment are primarily income-producing investment properties and owner occupied commercial properties throughout New England. The underlying cash flows generated by the properties or operations can be adversely impacted by a downturn in the economy due to increased vacancy rates or diminished cash flows, which in turn, would have an effect on the credit quality in this segment. Management obtains financial information annually and continually monitors the cash flows of these loans. Residential real estate –All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. We require private mortgage insurance for all loans originated with a loan-to-value ratio greater than 80 percent and do not grant subprime loans. Commercial and industrial loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, decreased consumer spending, changes in technology and government spending are examples of what will have an effect on the credit quality in this segment. Consumer loans – Loans in this segment are both secured and unsecured and repayment is dependent on the credit quality of the individual borrower. Allocated component The allocated component relates to loans that are classified as impaired. Impaired loans are identified by analysis of loan performance, internal credit ratings and watch list loans that management believes are subject to a higher risk of loss. Impairment is measured on a loan by loan basis for commercial real estate and commercial and industrial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, we do not separately identify individual consumer and residential real estate loans for impairment disclosures, unless such loans are nonperforming or subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all of the principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. We may periodically agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are classified as impaired. While we use our best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. We also maintain a reserve for unfunded credit commitments to provide for the risk of loss inherent in these arrangements. This reserve is determined using a methodology similar to the analysis of the allowance for loan losses, taking into consideration probabilities of future funding requirements. This reserve for unfunded commitments is included in other liabilities and was $60,000 at December 31, 2016 and 2015. Unallocated component An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio.
Loans Acquired with Deteriorating Credit Quality	Loans Acquired with Deteriorating Credit Quality –
Bank-Owned Life Insurance	Bank-owned Life Insurance –
Transfers and Servicing of Financial Assets	Transfers and Servicing of Financial Assets
Premises and Equipment	Premises and Equipment Years Buildings 39 Leasehold Improvements 5-20 Furniture and Equipment 3-7 The cost of maintenance and repairs is charged to expense when incurred. Major expenditures for betterments are capitalized and depreciated.
Other Real Estate Owned	Other Real Estate Owned
Servicing	Servicing Servicing fee income is recorded for fees earned for servicing loans, which is included in service charges and fee income. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned.
Impairment of Long-lived Assets	Impairment of Long-lived Assets Goodwill is measured as the excess of the cost of a business combination over the sum of the amounts assigned to identifiable intangible assets acquired less liabilities assumed. Goodwill is not amortized but rather assessed for impairment annually or more frequently if circumstances warrant. Management has the option of first assessing qualitative factors, such as events and circumstances, to determine whether it is more likely than not, meaning a likelihood of more than 50%, the value of a reporting unit is less than its carrying amount. If, after considering all relevant events and circumstances, management determines it is not more likely than not the fair value of a reporting unit is less than its carrying amount, then performing an impairment test is unnecessary. For the year ended December 31, 2016, management determined that it was not more likely than not the fair value of the reporting unit (the consolidated Company, in our case) was less than its carrying amount. If management had determined otherwise, the two-step process would have been completed to determine the impairment and necessary write-down of goodwill.
Retirement Plans and Employee Benefits	Retirement Plans and Employee Benefits
Share-based Compensation Plans	Share-based Compensation Plans
Employee Stock Ownership Plan	Employee Stock Ownership Plan
Advertising Costs	Advertising Costs
Income Taxes	Income Taxes
Earnings per Share	Earnings per Share - Earnings per common share have been computed based on the following: Years Ended December 31, 2016 2015 2014 (In thousands, except per share data) Net income applicable to common stock $ 4,834 $ 5,715 $ 6,162 Average number of common shares issued 20,659 18,509 19,274 Less: Average unallocated ESOP Shares (935 ) (1,011 ) (1,090 ) Less: Average unvested equity incentive plan shares (16 ) — — Average number of common shares outstanding used to calculate basic earnings per common share 19,708 17,498 18,184 Effect of dilutive equity incentive plan 3 — — Effect of dilutive stock options 93 — — Average number of common shares outstanding used to calculate diluted earnings per common share 19,804 17,498 18,184 Basic earnings per share $ 0.25 $ 0.33 $ 0.34 Diluted earnings per share $ 0.24 $ 0.33 $ 0.34 Antidilutive Shares (1) — — — (1)
Comprehensive Income (Loss)	Comprehensive Income (Loss) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows: December 31, 2016 December 31, 2015 (In thousands) Net unrealized gains (losses) on securities available for sale $ (5,863 ) $ (2,343 ) Tax effect 2,024 812 Net-of-tax amount (3,839 ) (1,531 ) Net unamortized losses on securities transferred from available-for-sale to held-to-maturity — (2,314 ) Tax effect — 799 Net-of-tax amount — (1,515 ) Fair value of derivatives used for cash flow hedges (3,152 ) (6,064 ) Termination fee (4,733 ) (2,270 ) Total derivatives (7,885 ) (8,334 ) Tax effect 2,681 2,833 Net-of-tax amount (5,204 ) (5,501 ) Unrecognized deferred loss pertaining to defined benefit plan (5,482 ) (3,685 ) Tax effect 1,864 1,254 Net-of-tax amount (3,618 ) (2,431 ) Accumulated other comprehensive loss $ (12,661 ) $ (10,978 ) The following table presents changes in accumulated other comprehensive loss for the years ended December 31, 2016 and 2015 by component: Securities Derivatives Defined Accumulated (In thousands) Balance at December 31, 2014 $ (728 ) $ (3,788 ) $ (2,959 ) $ (7,475 ) Current-period other comprehensive (loss) income (2,318 ) (1,713 ) 528 (3,503 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Current-period other comprehensive (loss) income (793 ) 297 (1,187 ) (1,683 ) Balance at December 31, 2016 $ (3,839 ) $ (5,204 ) $ (3,618 ) $ (12,661 ) With regard to defined benefit plans, an actuarial loss of $198,000 is expected to be recognized as a component of net periodic pension cost for the year ending December 31, 2017.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall In February of 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting On June 16, 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of earnings per common share	Earnings per common share have been computed based on the following: Years Ended December 31, 2016 2015 2014 (In thousands, except per share data) Net income applicable to common stock $ 4,834 $ 5,715 $ 6,162 Average number of common shares issued 20,659 18,509 19,274 Less: Average unallocated ESOP Shares (935 ) (1,011 ) (1,090 ) Less: Average unvested equity incentive plan shares (16 ) — — Average number of common shares outstanding used to calculate basic earnings per common share 19,708 17,498 18,184 Effect of dilutive equity incentive plan 3 — — Effect of dilutive stock options 93 — — Average number of common shares outstanding used to calculate diluted earnings per common share 19,804 17,498 18,184 Basic earnings per share $ 0.25 $ 0.33 $ 0.34 Diluted earnings per share $ 0.24 $ 0.33 $ 0.34 Antidilutive Shares (1) — — — (1)
Schedule of accumulated other comprehensive loss in sharesholders equity	The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows: December 31, 2016 December 31, 2015 (In thousands) Net unrealized gains (losses) on securities available-for-sale $ (5,863 ) $ (2,343 ) Tax effect 2,024 812 Net-of-tax amount (3,839 ) (1,531 ) Net unamortized losses on securities transferred from available-for-sale to held-to-maturity — (2,314 ) Tax effect — 799 Net-of-tax amount — (1,515 ) Fair value of derivatives used for cash flow hedges (3,152 ) (6,064 ) Termination fee (4,733 ) (2,270 ) Total derivatives (7,885 ) (8,334 ) Tax effect 2,681 2,833 Net-of-tax amount (5,204 ) (5,501 ) Unrecognized deferred loss pertaining to defined benefit plan (5,482 ) (3,685 ) Tax effect 1,864 1,254 Net-of-tax amount (3,618 ) (2,431 ) Accumulated other comprehensive loss $ (12,661 ) $ (10,978 )
Schedule of changes in accumulated other loss	The following table presents changes in accumulated other comprehensive loss for the years ended December 31, 2016 and 2015 by component: Securities Derivatives Defined Accumulated (In thousands) Balance at December 31, 2014 $ (728 ) $ (3,788 ) $ (2,959 ) $ (7,475 ) Current-period other comprehensive (loss) income (2,318 ) (1,713 ) 528 (3,503 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Balance at December 31, 2015 $ (3,046 ) $ (5,501 ) $ (2,431 ) $ (10,978 ) Current-period other comprehensive (loss) income (793 ) 297 (1,187 ) (1,683 ) Balance at December 31, 2016 $ (3,839 ) $ (5,204 ) $ (3,618 ) $ (12,661 )

SECURITIES (Tables)

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of securities available for sale and held to maturity	Securities available-for-sale are summarized as follows: December 31, 2016 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Government-sponsored mortgage-backed securities $ 184,127 $ 33 $ (4,024 ) $ 180,136 U.S. government guaranteed mortgage-backed securities 17,753 — (403 ) 17,350 Corporate bonds 50,255 265 (203 ) 50,317 State and municipal bonds 4,117 13 (122 ) 4,008 Government-sponsored enterprise obligations 43,140 — (1,132 ) 42,008 Mutual funds 6,586 — (290 ) 6,296 Total available-for-sale securities $ 305,978 $ 311 $ (6,174 ) $ 300,115 December 31, 2015 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Government-sponsored mortgage-backed securities $ 138,186 $ — $ (2,227 ) $ 135,959 U.S. government guaranteed mortgage-backed securities 11,030 — (127 ) 10,903 Corporate bonds 21,176 45 (85 ) 21,136 State and municipal bonds 2,794 7 — 2,801 Government-sponsored enterprise obligations 4,000 — (49 ) 3,951 Mutual funds 6,438 — (191 ) 6,247 Common and preferred stock 1,309 284 — 1,593 Total available-for-sale securities 184,933 336 (2,679 ) 182,590 Held-to-maturity securities: Government-sponsored mortgage-backed securities $ 148,085 $ 1,319 $ (1,515 ) $ 147,889 U.S. government guaranteed mortgage-backed securities 29,174 166 (66 ) 29,274 Corporate bonds 23,969 64 (316 ) 23,717 State and municipal bonds 6,845 68 (102 ) 6,811 Government-sponsored enterprise obligations 30,146 254 (472 ) 29,928 Total held-to-maturity securities 238,219 1,871 (2,471 ) 237,619 Total $ 423,152 $ 2,207 $ (5,150 ) $ 420,209
Schedule of amortized cost and fair value of securities available for sale and held to maturity by maturity	The amortized cost and fair value of securities at December 31, 2016, by final maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or repay obligations and mortgage-backed securities amortize monthly. December 31, 2016 Amortized Fair Value (In thousands) Mortgage-backed securities: Due after one year through five years $ 21,877 $ 21,647 Due after five years through ten years 17,415 17,176 Due after ten years 162,588 158,663 Total $ 201,880 $ 197,486 Debt securities: Due in one year or less $ 18,270 $ 18,262 Due after one year through five years 26,730 26,846 Due after five years through ten years 45,760 44,831 Due after ten years 6,752 6,394 Total $ 97,512 $ 96,333
Schedule of gross realized gains and losses on sales of securities available for sale	Gross realized gains and losses on sales of securities for the years ended December 31, 2016, 2015 and 2014 are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) Gross gains realized $ 1,976 $ 1,638 $ 801 Gross losses realized (837 ) (132 ) (481 ) Net gain realized $ 1,139 $ 1,506 $ 320
Schedule of securities with gross unrealized losses in continuous loss position	Information pertaining to securities with gross unrealized losses at December 31, 2016 and 2015 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: December 31, 2016 Less Than 12 Months Over 12 Months Gross Fair Gross Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 3,016 $ 147,691 $ 1,008 $ 27,303 U.S. government guaranteed mortgage-backed securities 192 12,536 211 4,814 Corporate bonds 203 18,481 — — State and municipal bonds 95 1,507 27 305 Government-sponsored enterprise obligations 1,132 42,008 — — Mutual funds 79 3,429 211 2,867 Total available-for-sale $ 4,717 $ 225,652 $ 1,457 $ 35,289 December 31, 2015 Less Than 12 Months Over 12 Months Gross Fair Gross Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 2,090 $ 129,731 $ 137 $ 6,228 U.S. government guaranteed mortgage-backed securities 116 10,290 11 613 Corporate bonds 85 13,374 — — Government-sponsored enterprise obligations 49 3,951 — — Mutual funds 32 4,478 159 1,769 Total available-for-sale 2,372 161,824 307 8,610 Held-to-maturity: Government-sponsored mortgage-backed securities $ 947 $ 45,760 $ 568 $ 32,825 U.S. government guaranteed mortgage-backed securities 37 2,522 29 15,401 Corporate bonds 204 5,412 112 13,382 State and municipal bonds — — 102 4,809 Government-sponsored enterprise obligations — — 472 20,193 Total held-to-maturity 1,188 53,694 1,283 86,610 Total $ 3,560 $ 215,518 $ 1,590 $ 95,220 December 31, 2016 Less Than Twelve Months Over Twelve Months Number of Securities Amortized Cost Basis Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Amortized Cost Basis Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 56 $ 150,707 $ 3,016 2.0 % 10 $ 28,311 $ 1,008 3.6 % U.S. government guaranteed mortgage-backed securities 4 12,728 192 1.5 2 5,025 211 4.2 Government-sponsored enterprise obligations 11 43,140 1,132 2.6 0 — — — Corporate bonds 5 18,684 203 1.1 0 — — — State and municipal bonds 3 1,602 95 5.9 1 332 27 8.1 Mutual funds 1 3,508 79 2.3 2 3,078 211 6.9 $ 230,369 $ 4,717 $ 36,746 $ 1,457

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of loans	Loans consisted of the following amounts: December 31, 2016 2015 (In thousands) Commercial real estate $ 720,741 $ 303,036 Residential real estate: Residential 522,083 298,052 Home equity 92,083 43,512 Commercial and industrial 222,286 168,256 Consumer 4,424 1,534 Total loans 1,561,617 814,390 Unearned premiums and deferred loan fees and costs, net 4,867 3,823 Allowance for loan losses (10,068 ) (8,840 ) $ 1,556,416 $ 809,373
Schedule of mortgage servicing rights	A summary of the activity in the balances of mortgage servicing rights follows: Year Ended December 31, (In thousands) Balance at the beginning of year: $ — Capitalized mortgage servicing rights 502 Amortization 37 Balance at the end of year $ 465 Fair value at the end of year $ 628
Schedule of analysis of changes in allowance for loan losses by segment	An analysis of changes in the allowance for loan losses by segment for the years ended December 31, 2016, 2015 and 2014 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2013 $ 3,550 $ 1,707 $ 2,191 $ 13 $ (2 ) $ 7,459 Provision 505 376 649 42 3 1,575 Charge-offs (350 ) (31 ) (787 ) (55 ) — (1,223 ) Recoveries — 1 121 15 — 137 Balance at December 31, 2014 $ 3,705 $ 2,053 $ 2,174 $ 15 $ 1 $ 7,948 Provision 151 428 605 46 45 1,275 Charge-offs — (58 ) (345 ) (73 ) — (476 ) Recoveries — 8 51 34 — 93 Balance at December 31, 2015 $ 3,856 $ 2,431 $ 2,485 $ 22 $ 46 $ 8,840 Provision (credit) (668 ) 579 575 135 (46 ) 575 Charge-offs (170 ) (157 ) — (159 ) — (486 ) Recoveries 1,065 9 25 40 — 1,139 Balance at December 31, 2016 $ 4,083 $ 2,862 $ 3,085 $ 38 $ — $ 10,068
Schedule of information pertaining to the allowance for loan losses by segment	Further information pertaining to the allowance for loan losses by segment at December 31, 2016 and 2015 follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) December 31, 2016 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated and not deemed impaired 4,083 2,862 3,085 38 — 10,068 Allowance for loans acquired with deteriorated credit quality — — — — — — Total allowance for loan losses 4,083 2,862 3,085 38 — 10,068 Loans individually evaluated and deemed impaired 3,335 452 3,042 — — 6,829 Loans collectively or individually evaluated and not deemed impaired 701,766 609,107 217,972 4,424 — 1,533,269 Amount of loans acquired with deteriorated credit quality 15,640 4,607 1,272 — — 21,519 Total loans $ 720,741 $ 614,166 $ 222,286 $ 4,424 $ — $ 1,561,617 December 31, 2015 Amount of allowance for loans individually evaluated and deemed impaired $ — $ — $ — $ — $ — $ — Amount of allowance for loans collectively or individually evaluated and not deemed impaired 3,856 2,431 2,485 22 46 8,840 Total allowance for loan losses 3,856 2,431 2,485 22 46 8,840 Loans individually evaluated and deemed impaired 3,732 399 3,363 — — 7,494 Loans collectively or individually evaluated and not deemed impaired 299,304 341,165 164,893 1,534 — 806,896 Total loans $ 303,036 $ 341,564 $ 168,256 $ 1,534 $ — $ 814,390
Schedule of past due and nonaccrual loans by class	The following is a summary of past due and nonaccrual loans by class at December 31, 2016 and 2015: 30 – 59 Days Past Due 60 – 89 Days Past Due Past Due 90 Days or More Total Past Due Past Due 90 Days or More and Still Accruing Loans on Non-Accrual (In thousands) December 31, 2016 Commercial real estate $ 302 $ 555 $ 137 $ 994 $ — $ 2,740 Residential real estate: Residential 791 262 689 1,742 — 1,658 Home equity 208 36 — 244 — 37 Commercial and industrial 326 32 — 358 — 3,214 Consumer 27 9 7 43 — 14 Total legacy loans 1,654 894 833 3,381 — 7,663 Loans acquired from Chicopee Savings Bank 3,854 1,907 551 6,312 — 6,394 Total past due loans $ 5,508 $ 2,801 $ 1,384 $ 9,693 $ — $ 14,057 December 31, 2015 Commercial real estate $ 348 $ 730 $ 20 $ 1,098 $ — $ 3,237 Residential real estate: Residential 638 — 908 1,546 — 1,470 Home equity 230 124 — 354 — — Commercial and industrial 127 649 445 1,221 — 3,363 Consumer 30 — — 30 — 10 Total $ 1,373 $ 1,503 $ 1,373 $ 4,249 $ — $ 8,080
Schedule of impaired loans by class	The following is a summary of impaired loans by class: Impaired Loans (1) Year Ended At December 31, 2016 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (In thousands) Commercial real estate $ 18,975 $ 21,330 $ — $ 5,458 $ 191 Residential real estate 5,059 5,676 — 1,052 7 Commercial and industrial 4,314 11,049 — 3,504 40 Total impaired loans $ 28,348 $ 38,055 $ — $ 10,014 $ 238 (1) Includes loans acquired with deteriorated credit quality. Impaired Loans Year Ended At December 31, 2015 December 31, 2015 Recorded Investment Unpaid Related Allowance Average Recorded Investment Interest (In thousands) Commercial real estate $ 3,732 $ 4,403 $ — $ 3,332 $ 27 Residential real estate 399 543 — 330 — Commercial and industrial 3,363 4,408 — 3,671 — Total impaired loans $ 7,494 $ 9,354 $ — $ 7,333 $ 27
Schedule of troubled debt restructurings	The following table summarizes TDRs at the dates indicated: Year Ended Year Ended December 31, 2016 December 31, 2015 Number of Contracts Pre- Post- Number of Contracts Pre- Post- (Dollars in thousands) (Dollars in thousands) Troubled Debt Restructurings: Commercial Real Estate 2 $ 1,946 $ 1,946 1 $ 478 $ 478 Commercial and Industrial 3 2,899 2,899 — — — Residential 4 555 555 — — — Total 9 $ 5,400 $ 5,400 1 $ 478 $ 478
Schedule of loans acquired	The following is a summary of loans acquired with evidence of credit deterioration from Chicopee as of December 31, 2016. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at acquisition date of October 21, 2016 $ 38,590 $ 30,091 $ 8,499 $ 7,723 $ 22,368 Collections (753 ) (753 ) — (206 ) (547 ) Transferred to OREO (400 ) (298 ) (102 ) 4 (302 ) Balance at December 31, 2016 $ 37,437 $ 29,040 $ 8,397 $ 7,521 $ 21,519
Schedule of loans by risk rating	The following table presents our loans by risk rating at December 31, 2016 and December 31, 2015: Commercial Real Estate Residential 1-4 family Home Equity Commercial and Industrial Consumer Total (Dollars in thousands) December 31, 2016 Loans rated 1 – 3 $ 673,957 $ 516,339 $ 91,964 $ 180,675 $ 4,391 $ 1,467,326 Loans rated 4 24,207 — — 16,621 6 40,834 Loans rated 5 14,068 — — 6,727 — 20,795 Loans rated 6 6,604 5,744 119 15,379 27 27,873 Loans rated 7 1,905 — — 2,884 — 4,789 $ 720,741 $ 522,083 $ 92,083 $ 222,286 $ 4,424 $ 1,561,617 December 31, 2015 Loans rated 1 – 3 $ 269,124 $ 296,582 $ 43,512 $ 135,416 $ 1,524 $ 746,158 Loans rated 4 27,053 — — 16,060 — 43,113 Loans rated 5 138 — — 434 — 572 Loans rated 6 6,721 1,470 — 16,346 10 24,547 $ 303,036 $ 298,052 $ 43,512 $ 168,256 $ 1,534 $ 814,390

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	Premises and equipment are summarized as follows: December 31, 2016 2015 (In thousands) Land $ 5,651 $ 4,121 Buildings 19,191 13,738 Leasehold improvements 2,220 2,209 Furniture and equipment 14,090 12,334 Total 41,152 32,402 Accumulated depreciation and amortization (20,267 ) (18,838 ) Premises and equipment, net $ 20,885 $ 13,564

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Goodwill for the year ended December 31, 2016 is summarized as follows: Year Ended (In thousands) Balance at beginning of the year $ — Acquisition of Chicopee 13,747 Balance at end of year $ 13,747
Schedule of other intangible assets	Core deposit intangibles are summarized as follows: Year Ended (In thousands) Core deposit intangible $ 4,511 Accumulated amortization 73 Core deposit intangible, net $ 4,438

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule of of deposit accounts by type	Deposit accounts by type are summarized as follows: At December 31, 2016 2015 Amount Amount (Dollars in thousands) Demand and interest-bearing: Interest-bearing accounts $ 82,406 $ 28,913 Demand deposits 303,993 157,844 Savings: Regular accounts 121,262 75,225 Money market accounts 437,467 242,647 Time certificates of deposit 572,943 395,734 Total deposits $ 1,518,071 $ 900,363
Scheduled maturities of time certificates of deposit	At December 31, 2016, the scheduled maturities of time certificates of deposit are as follows: Year Ending December 31, Amount (In thousands) 2017 $ 321,078 2018 144,801 2019 54,508 2020 32,047 2021 20,509 $ 572,943
Schedule of interest expense on deposits	Interest expense on deposits for the years ended December 31, 2016, 2015 and 2014 is summarized as follows: Years Ended December 31, 2016 2015 2014 (In thousands) Regular $ 89 $ 79 $ 80 Money market 1,201 830 846 Time 5,144 4,583 4,152 Interest-bearing demand 147 79 99 $ 6,581 $ 5,571 $ 5,177

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of customer repurchase agreements	The following table summarizes information regarding repurchase agreements: Years Ended December 31, 2016 2015 (Dollars in thousands) Balance outstanding at end of year $ 17,351 $ 34,657 Maximum amount outstanding during year 50,124 48,582 Average amount outstanding during year 28,130 38,883 Weighted average interest rate at end of year 0.14 % 0.20 % Amortized cost of collateral pledged at end of year 80,106 67,440 Fair value of collateral pledged at end of year 82,218 69,948

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of advances collateralized by lien	The following advances are collateralized by a blanket lien on our residential real estate loans and our eligible commercial real estate loans. Amount Weighted Average Rate 2016 2015 2016 2015 (In thousands) Fixed-rate advances maturing: 2016 $ — $ 24,940 — % 1.3 % 2017 15,298 47,500 2.7 2.4 2018 28,789 20,000 1.9 2.0 2019 31,288 16,000 2.1 2.5 2020 16,782 7,000 1.7 1.8 2021 5,039 — 1.2 — 2022 4,804 — 1.9 — 2024 836 — 2.6 — 102,836 115,440 2.0 % 2.1 % Variable-rate advances maturing: 2016 — 10,000 1.7 2018 22,000 22,000 2.1 2.1 22,000 32,000 2.1 2.0 Total advances $ 124,836 $ 147,440 2.0 % 2.1 %

STOCK PLANS AND EMPLOYEE STOC41

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock award and stock option plans activity	A summary of the status of our stock options at December 31, 2016 is presented below: Shares Weighted Average Exercise Price Weighted (in years) Aggregate (in thousands) Outstanding at December 31, 2015 — $ — — $ — Converted options upon merger 1,510,527 6.00 2.02 2,866 Exercised (331,628 ) 5.96 1.49 1,016 Outstanding at December 31, 2016 1,178,899 $ 6.01 1.98 $ 3,930 Exercisable at December 31, 2016 1,178,899 $ 6.01 1.98 $ 3,930
Schedule of unvested restricted stock awards	A summary of the status of unvested restricted stock awards at December 31, 2016 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2015 54,160 $ 7.28 Shares granted 62,740 7.73 Shares vested (25,529 ) 7.58 Balance at December 31, 2016 91,371 $ 7.51
Schedule of the remaining principal balance payable	At December 31, 2016, the remaining principal balances are payable as follows: Year Ending December 31, Amount (In thousands) 2017 $ 447 2018 447 2019 447 2020 447 2021 447 Thereafter 5,631 $ 7,866
Schedule of shares held by ESOP	Shares held by the ESOP include the following at December 31, 2016 and 2015: 2016 2015 Allocated 832,308 776,517 Committed to be allocated 79,082 76,888 Unallocated 884,781 963,863 Total 1,796,171 1,817,268

RETIREMENT PLANS AND EMPLOYEE42

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Schedule of pension plan	The following table provides information for the Plan at or for the years ended December 31: Years Ended December 31, 2016 2015 2014 (In thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 22,458 $ 23,634 $ 19,039 Service cost 1,130 1,234 1,000 Interest 959 902 824 Actuarial (gain) loss 1,846 (2,040 ) 3,085 Benefits paid (574 ) (1,272 ) (314 ) Benefit obligation at end of year 25,819 22,458 23,634 Change in plan assets: Fair value of plan assets at beginning of year 15,233 15,947 13,811 Actual return (loss) on plan assets 1,039 (242 ) 1,725 Employer contribution 800 800 725 Benefits paid (574 ) (1,272 ) (314 ) Fair value of plan assets at end of year 16,498 15,233 15,947 Funded status and accrued benefit at end of year $ (9,321 ) $ (7,225 ) $ (7,687 ) Accumulated benefit obligation at end of year $ 19,027 $ 16,885 $ 16,423
Schedule of actuarial assumptions were used in determining the pension benefit obligation	The following actuarial assumptions were used in determining the pension benefit obligation: December 31, 2016 2015 Discount rate 4.15 % 4.35 % Rate of compensation increase 4.00 4.00
Schedule of net pension benefit costs	Net pension cost includes the following components for the years ended December 31: 2016 2015 2014 (In thousands) Service cost $ 1,130 $ 1,234 $ 1,000 Interest cost 959 902 824 Expected return on assets (1,097 ) (1,134 ) (959 ) Amortization of transition asset — — (10 ) Amortization of actuarial loss 102 118 — Net periodic pension cost $ 1,094 $ 1,120 $ 855
Schedule of actuarial assumptions were used in determining the service costs	The following actuarial assumptions were used in determining the service costs for the years ended December 31: 2016 2015 2014 Discount rate 4.35 % 4.00 % 5.00 % Expected return on plan assets 7.50 7.50 7.50 Rate of compensation increase 4.00 4.00 4.00
Schedule of fair value of major categories of our pension plan assets	The fair value of major categories of our pension plan assets are summarized below: December 31, 2016 Plan Assets Level 1 Level 2 Level 3 Fair Value (In thousands) Large U.S. equity $ — $ 4,346 $ — $ 4,346 Small/mid U.S. equity — 782 — 782 International equity — 1,730 — 1,730 Balanced/asset allocation — 332 — 332 Fixed income — 9,308 — 9,308 $ — $ 16,498 $ — $ 16,498 December 31, 2015 Plan Assets Level 1 Level 2 Level 3 Fair Value (In thousands) Large U.S. equity $ — $ 3,962 $ — $ 3,962 Small/mid U.S. equity — 926 — 926 International equity — 1,495 — 1,495 Balanced/asset allocation — 741 — 741 Fixed income — 8,109 — 8,109 $ — $ 15,233 $ — $ 15,233
Schedule of estimated benefits to be paid from the pension plan	We estimate that the benefits to be paid from the pension plan for years ended December 31 are as follows: Year Benefit Payments to Participants (In thousands) 2017 $ 622 2018 1,235 2019 1,077 2020 1,045 2021 1,184 In aggregate for 2022 – 2026 13,965

DERIVATIVES AND HEDGING ACTIV43

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Derivatives And Hedging Activities Tables
Schedule of fair values of derivative instruments	The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of December 31, 2016. December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (In thousands) Interest rate swaps Other Assets $ — Other Liabilities $ 3,152 Total derivatives designated as hedging instruments $ — $ 3,152 December 31, 2015 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Fair Value (In thousands) Interest rate swaps Other Assets $ — Other Liabilities $ 6,064 Total derivatives designated as hedging instruments $ — $ 6,064
Schedule of information about cash flow hedges	The following table presents information about our cash flow hedges at December 31, 2016 and 2015: December 31, 2016 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 75,000 3.4 0.92 % 2.46 % $ (3,152 ) Total cash flow hedges $ 75,000 3.4 $ (3,152 ) December 31, 2015 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Received Paid Value (In thousands) (In years) (In thousands) Interest rate swaps on FHLBB borrowings $ 40,000 2.3 0.32 % 1.52 % $ (330 ) Forward starting interest rate swaps on FHLBB borrowings 67,500 6.5 — 3.42 % (5,734 ) Total cash flow hedges $ 107,500 4.9 $ (6,064 )
Schedule of pre-tax net gains (losses) of cash flow hedges	The table below presents the pre-tax net loss of our cash flow hedges for the periods indicated. Amount of Loss Recognized in OCI on Derivative (Effective Portion) Years Ended December 31, 2016 2015 2014 (In thousands) Interest rate swaps $ (1,126 ) $ (3,337 ) $ (7,684 )

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule of regulatory capital	There are no conditions or events since that notification that management believes have changed the Bank’s category. Actual Minimum For Capital Adequacy Purpose Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2016 Total Capital (to Risk Weighted Assets Consolidated $ 245,389 15.10 % $ 130,037 8.00 % N/A N/A Bank 237,626 14.64 129,879 8.00 $ 162,349 10.00 % Tier 1 Capital ( to Risk Weighted Assets Consolidated 235,261 14.47 97,528 6.00 N/A N/A Bank 227,498 14.01 97,409 6.00 129,879 8.00 Common Equity Tier 1 Capital ( to Risk Weighted Assets Consolidated 235,261 14.47 73,146 4.50 N/A N/A Bank 227,498 14.01 73,057 4.50 105,527 6.50 Tier 1 Leverage Ratio ( to Adjusted Average Assets Consolidated 235,261 12.19 77,187 4.00 N/A N/A Bank 227,498 11.86 76,745 4.00 95,931 5.00 December 31, 2015 Total Capital (to Risk Weighted Assets Consolidated $ 159,386 17.20 % $ 74,136 8.00 % N/A N/A Bank 151,327 16.36 74,006 8.00 $ 92,508 10.00 % Tier 1 Capital ( to Risk Weighted Assets Consolidated 150,444 16.23 55,602 6.00 N/A N/A Bank 142,427 15.40 55,505 6.00 74,006 8.00 Common Equity Tier 1 Capital ( to Risk Weighted Assets Consolidated 150,444 16.23 41,702 4.50 N/A N/A Bank 142,427 15.40 41,629 4.50 60,130 6.50 Tier 1 Leverage Ratio ( to Adjusted Average Assets Consolidated 150,444 11.16 53,876 4.00 N/A N/A Bank 142,427 10.58 53,871 4.00 67,339 5.00
Schedule of reconciliation of capital to regulatory Tier 1, Common Equity Tier 1 and total capital	The following is a reconciliation of our GAAP capital to regulatory Tier 1, Common Equity Tier 1 and total capital: December 31, 2016 2015 (In thousands) Consolidated GAAP capital $ 238,396 $ 139,466 Net unrealized losses on available-for-sale securities, net of tax 3,839 3,046 Unrealized loss on defined benefit pension plan, net of tax 3,618 2,431 Accumulated net loss on cash flow hedges, net of tax 5,204 5,501 Unrealized loss on certain available-for-sale equity securities (191 ) — Disallowed deferred tax assets (155 ) — Goodwill (13,747 ) — Intangible assets, net of associated deferred tax liabilities (1,599 ) — Additional tier 1 capital deductions (104 ) — Tier 1 and Common Equity Tier 1 capital 235,261 150,444 Unrealized gains on certain available-for-sale equity securities — 42 Allowance for loan losses and unfunded loan commitments 10,128 8,900 Total regulatory capital $ 245,389 $ 159,386

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of income taxes	Income taxes consist of the following: Years Ended December 31, 2016 2015 2014 (In thousands) Current tax provision: Federal $ 1,925 $ 2,036 $ 1,854 State 370 319 221 Total 2,295 2,355 2,075 Deferred tax (benefit) provision: Federal 262 (203 ) (172 ) State 10 (82 ) (52 ) Change in valuation reserve 2 54 31 Total 274 (231 ) (193 ) Total $ 2,569 $ 2,124 $ 1,882
Schedule of differences between statutory federal income tax rate and effective rates	The reasons for the differences between the statutory federal income tax rate and the effective rates are summarized below: Years Ended December 31, 2016 2015 2014 Statutory federal income tax rate 34.0 % 34.0 % 34.0 % Increase (decrease) resulting from: State taxes, net of federal tax benefit 3.4 1.6 1.2 Tax exempt income (2.6 ) (3.2 ) (4.1 ) Bank-owned life insurance (BOLI) (7.2 ) (6.6 ) (6.4 ) Nondeductible merger expenses 8.3 — — Change in valuation reserve — 0.7 0.4 Other, net (1.2 ) 0.6 (1.7 ) Effective tax rate 34.7 % 27.1 % 23.4 %
Schedule of deferred taxes	The tax effects of each item that gives rise to deferred taxes are as follows: December 31, 2016 2015 (In thousands) Deferred tax assets: Allowance for loan losses $ 4,021 $ 3,531 Net unrealized loss on derivative and hedging activity 2,681 2,833 Employee benefit and share-based compensation plans 3,220 2,682 Defined benefit plan 1,864 1,254 Net unamortized loss on securities transferred from available for sale to held to maturity — 799 Net unrealized loss on securities available for sale 2,024 812 Other-than-temporary impairment write-down 129 129 Purchased mortgage servicing rights 562 — Purchase accounting adjustments 1,824 — Net operating loss and tax credit carryforwards 1,320 — Other 787 648 Gross deferred tax assets 18,432 12,688 Valuation reserve (973 ) (971 ) Gross deferred tax assets, net of valuation reserve 17,459 11,717 Deferred tax liabilities: Deferred loan fees (1,268 ) (759 ) Other (32 ) (77 ) (1,300 ) (836 ) Net deferred tax asset $ 16,159 $ 10,881

TRANSACTIONS WITH DIRECTORS A46

TRANSACTIONS WITH DIRECTORS AND EXECUTIVE OFFICERS (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of activity for loans - directors and executive officers	Following is a summary of activity for such loans: Years Ended December 31, 2016 2015 (In thousands) Balance at beginning of year $ 1,038 $ 2,881 Principal distributions 554 534 Repayments of principal (156 ) (707 ) Change in related party status 39 (1,670 ) Balance at end of year $ 1,475 $ 1,038

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of financial instruments and other commitments and contingent liabilities	The following summarizes these financial instruments and other commitments and contingent liabilities at their contract amounts: December 31, 2016 2015 (In thousands) Commitments to extend credit: Unused lines of credit $ 217,193 $ 120,039 Loan commitments 41,285 41,496 Existing construction loan agreements 35,702 37,844 Standby letters of credit 7,090 3,865
Schedule of aggregate future minimum rental payments	Aggregate future minimum rental payments under the terms of non-cancelable operating leases at December 31, 2016, are as follows: Year Ending Amount (In thousands) 2017 $ 1,172 2018 1,088 2019 1,043 2020 934 2021 879 Thereafter 8,970 $ 14,086

FAIR VALUE OF ASSETS AND LIAB48

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below: December 31, 2016 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored mortgage-backed securities $ — $ 180,136 $ — $ 180,136 U.S. government guaranteed mortgage-backed securities — 17,350 — 17,350 Corporate bonds — 50,317 — 50,317 State and municipal bonds — 4,008 — 4,008 Government-sponsored enterprise obligations — 42,008 — 42,008 Mutual funds 6,296 — — 6,296 Total assets $ 6,296 $ 293,819 $ — $ 300,115 Liabilities: Interest rate swaps $ — $ 3,152 $ — $ 3,152 December 31, 2015 Level 1 Level 2 Level 3 Total Assets: (In thousands) Government-sponsored mortgage-backed securities $ — $ 135,959 $ — $ 135,959 U.S. government guaranteed mortgage-backed securities — 10,903 — 10,903 Corporate bonds — 21,136 — 21,136 State and municipal bonds — 2,801 — 2,801 Government-sponsored enterprise obligations — 3,951 — 3,951 Mutual funds 6,247 — — 6,247 Common and preferred stock 1,593 — — 1,593 Total assets $ 7,840 $ 174,750 $ — $ 182,590 Liabilities: Interest rate swaps $ — $ 6,064 $ — $ 6,064
Schedule of assets measured at fair value on non-recurring basis	The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2016 and 2015. At Year Ended December 31, 2016 December 31, 2016 Total Level 1 Level 2 Level 3 Losses (In thousands) (In thousands) Impaired Loans $ — $ — $ 2,143 $ 230 Total Assets $ — $ — $ 2,143 $ 230 At Year Ended December 31, 2015 December 31, 2015 Total Level 1 Level 2 Level 3 Losses (In thousands) (In thousands) Impaired Loans $ — $ — $ 2,111 $ 224 Total Assets $ — $ — $ 2,111 $ 224
Summary of fair values of financial instruments	The estimated fair values of our financial instruments are as follows: December 31, 2016 Carrying Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 70,234 $ 70,234 $ — $ — $ 70,234 Securities available-for-sale 300,115 6,296 293,819 — 300,115 Federal Home Loan Bank of Boston and other restricted stock 16,124 — — 16,124 16,124 Loans - net 1,556,416 — — 1,525,274 1,525,274 Accrued interest receivable 5,782 — — 5,782 5,782 Mortgage servicing rights 465 — 628 — 628 Liabilities: Deposits 1,518,071 — — 1,521,580 1,521,580 Short-term borrowings 172,351 — 172,351 — 172,351 Long-term debt 124,836 — 125,183 — 125,183 Accrued interest payable 1,012 — — 1,012 1,012 Derivative liabilities 3,152 — 3,152 — 3,152 December 31, 2015 Carrying Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 13,703 $ 13,703 $ — $ — $ 13,703 Securities available-for-sale 182,590 7,840 174,750 — 182,590 Securities held-to-maturity 238,219 — 237,619 — 237,619 Federal Home Loan Bank of Boston and other restricted stock 15,074 — — 15,074 15,074 Loans - net 809,373 — — 797,596 797,596 Accrued interest receivable 3,878 — — 3,878 3,878 Derivative assets — — — — — Liabilities: Deposits 900,363 — — 901,400 901,400 Short-term borrowings 128,407 — 128,407 — 128,407 Long-term debt 153,358 — 155,433 — 155,433 Accrued interest payable 446 — — 446 446 Derivative liabilities 6,064 — 6,064 — 6,064

CONDENSED PARENT COMPANY FINA49

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed balance sheets	The condensed balance sheets of the parent company are as follows: December 31, 2016 2015 (In thousands) ASSETS: Cash equivalents $ 972 $ 53 Securities available-for-sale — 1,593 Investment in subsidiaries 230,633 131,387 ESOP loan receivable 7,866 8,375 Other assets 7,468 6,683 TOTAL ASSETS 246,939 148,091 LIABILITIES: ESOP loan payable 7,866 8,375 Other liabilities 677 250 EQUITY 238,396 139,466 TOTAL LIABILITIES AND EQUITY $ 246,939 $ 148,091
Schedule of condensed statements of income	The condensed statements of income for the parent company are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) INCOME: Dividends from subsidiaries $ 3,499 $ 6,557 $ 14,712 Interest income from securities 32 20 31 ESOP loan interest income 670 706 741 Gain on sales of securities, net 451 — — Total income 4,652 7,283 15,484 OPERATING EXPENSE: Salaries and employee benefits 926 743 697 ESOP interest 670 706 741 Other expenses 507 556 503 Total operating expense 2,103 2,005 1,941 INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES AND INCOME TAXES 2,549 5,278 13,543 EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF SUBSIDIARIES 1,955 90 (7,655 ) NET INCOME BEFORE TAXES 4,504 5,368 5,888 INCOME TAX BENEFIT (330 ) (347 ) (274 ) NET INCOME $ 4,834 $ 5,715 $ 6,162
Schedule of condensed statements of cash flows	The condensed statements of cash flows of the parent company are as follows: Years Ended December 31, 2016 2015 2014 (In thousands) OPERATING ACTIVITIES: Net income $ 4,834 $ 5,715 $ 6,162 Equity in undistributed (income) loss of subsidiaries (1,955 ) (90 ) 7,655 Gain on sales of securities, net (451 ) — — Change in other liabilities (597 ) (409 ) (409 ) Change in other assets (271 ) (52 ) 175 Other, net 1,049 713 667 Net cash provided by operating activities 2,609 5,877 14,250 INVESTING ACTIVITIES: Purchase of securities (116 ) (125 ) (235 ) Sales of securities 116 125 235 Net cash provided by investing activities — — — FINANCING ACTIVITIES: Cash dividends paid (2,439 ) (2,098 ) (3,832 ) Common stock repurchased (1,378 ) (3,906 ) (10,518 ) Tender offer to purchase outstanding options — — 121 Excess tax benefit (shortfall) from share-based compensation 156 2 (1 ) Issuance of common stock in connection with stock option Exercises 1,971 — — Net cash used in financing activities (1,690 ) (6,002 ) (14,230 ) NET CHANGE IN CASH AND CASH EQUIVALENTS 919 (125 ) 20 CASH AND CASH EQUIVALENTS Beginning of year 53 178 158 End of year $ 972 $ 53 $ 178 Supplemental cashflow information: Net cash due to broker for common stock repurchased $ 455 $ — $ —

SUMMARY OF QUARTERLY FINANCIA50

SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Summary of quarterly financial information	The following tables present a summary of our quarterly financial information for the periods indicated. The year to date totals may differ slightly due to rounding. 2016 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars in thousands, except per share amounts) Interest and dividend income $ 10,961 $ 10,554 $ 10,977 $ 16,106 Interest expense 2,718 2,552 2,649 3,366 Net interest and dividend income 8,243 8,002 8,328 12,740 Provision (credit) for loan losses (600 ) 625 375 175 Other noninterest income 1,245 1,262 1,322 1,918 Loss on prepayment of borrowings (915 ) — — — Gain (loss) on sales of securities, net 685 (2 ) 1 455 Noninterest expense 7,072 7,998 8,225 12,011 Income before income taxes 2,786 639 1,051 2,927 Income tax provision 822 250 423 1,074 Net income $ 1,964 $ 389 $ 628 $ 1,853 Basic earnings per share $ 0.11 $ 0.02 $ 0.04 $ 0.07 Diluted earnings per share $ 0.11 $ 0.02 $ 0.04 $ 0.07 2015 First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars in thousands, except per share amounts) Interest and dividend income $ 10,188 $ 10,494 $ 10,974 $ 10,820 Interest expense 2,598 2,715 2,814 2,667 Net interest and dividend income 7,590 7,779 8,160 8,153 Provision for loan losses 300 350 150 475 Other noninterest income 1,005 1,247 1,163 1,243 Loss on prepayment of borrowings (593 ) (278 ) (429 ) — Gain (loss) on sales of securities, net 817 276 414 (1 ) Noninterest expense 6,711 6,865 6,867 6,990 Income before income taxes 1,808 1,809 2,291 1,930 Income tax provision 470 445 680 529 Net income $ 1,338 $ 1,364 $ 1,611 $ 1,401 Basic earnings per share $ 0.08 $ 0.08 $ 0.09 $ 0.08 Diluted earnings per share $ 0.08 $ 0.08 $ 0.09 $ 0.08

ACQUISITION OF CHICOPEE BANCO51

ACQUISITION OF CHICOPEE BANCORP, INC. (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Summary of estimated fair value of the assets acquired and liabilities assumed	The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of the acquisition (in thousands). Assets: Cash and cash equivalents $ 23,808 Loans receivable, net 640,892 Premises and equipment 7,284 Federal Home Loan Bank stock 4,176 Goodwill 13,747 Core deposit intangible 4,511 Bank-owned life insurance 15,150 Accrued interest receivable 1,440 Deferred tax asset, net 4,688 Other assets 899 Total assets acquired 716,595 Liabilities: Deposits 545,669 FHLB Advances 63,252 Accrued expense and other liabilities 8,882 Total liabilities assumed 617,803 Net assets acquired $ 98,792
Schedule of selected unaudited pro forma financial information	Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing or anticipated cost-savings that could occur as a result of the acquisition. Years Ended December 31, 2016 2015 (In thousands, except per share amounts) Net interest income $ 55,185 $ 53,487 Net income 10,329 8,717 Earnings per share – Basic 0.35 0.30 Earnings per share – Diluted 0.35 0.29

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings per common share
Net income applicable to common stock	$ 1,853	$ 628	$ 389	$ 1,964	$ 1,401	$ 1,611	$ 1,364	$ 1,338	$ 4,834	$ 5,715	$ 6,162
Average number of common shares issued									20,659,000	18,509,000	19,274,000
Less: Average unallocated ESOP Shares									(935,000)	(1,011,000)	(1,090,000)
Less: Average unvested equity incentive plan shares									(16,000)
Average number of common shares outstanding used to calculate basic earnings per common share									19,707,948	17,497,620	18,183,739
Effect of dilutive equity incentive plan									3,000
Effect of dilutive stock options									93,000
Average number of common shares outstanding used to calculate diluted earnings per common share									19,803,744	17,497,620	18,183,739
Basic earnings per share	$ 0.07	$ 0.04	$ 0.02	$ 0.11	$ 0.08	$ 0.09	$ 0.08	$ 0.08	$ 0.25	$ 0.33	$ 0.34
Diluted earnings per share	$ 0.07	$ 0.04	$ 0.02	$ 0.11	$ 0.08	$ 0.09	$ 0.08	$ 0.08	$ 0.24	$ 0.33	$ 0.34

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax amount, ending	$ (12,661)	$ (10,978)
Net unrealized gains (losses) on securities AFS [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax, beginning	(5,863)	(2,343)
Tax effect	2,024	812
Accumulated other comprehensive income (loss), net of tax amount, ending	(3,839)	(1,531)
Fair value of derivatives used for cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax, beginning	(3,152)	(6,064)
Derivative Termination Fee	(4,733)	(2,270)
Total derivatives	(7,885)	(8,334)
Tax effect	2,681	2,833
Accumulated other comprehensive income (loss), net of tax amount, ending	(5,204)	(5,501)
Unrecognized deferred loss pertaining to defined benefit plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax, beginning	(5,482)	(3,685)
Tax effect	1,864	1,254
Accumulated other comprehensive income (loss), net of tax amount, ending	$ (3,618)	(2,431)
Net unamortized losses on securities transferred from AFS to HTM [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss) before tax, beginning		(2,314)
Tax effect		799
Accumulated other comprehensive income (loss), net of tax amount, ending		$ (1,515)

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (10,978)
Current-period other comprehensive (loss) income	(1,683)	$ (3,503)	$ (4,500)
Ending balance	(12,661)	(10,978)
Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,046)	(728)
Current-period other comprehensive (loss) income	(793)	(2,318)
Ending balance	(3,839)	(3,046)	(728)
Accumulated Other Comprehensive Income Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(10,978)	(7,475)
Current-period other comprehensive (loss) income	(1,683)	(3,503)
Ending balance	(12,661)	(10,978)	(7,475)
Derivative [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(5,501)	(3,788)
Current-period other comprehensive (loss) income	297	(1,713)
Ending balance	(5,204)	(5,501)	(3,788)
Defined Benefits Pension Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,431)	(2,959)
Current-period other comprehensive (loss) income	(1,187)	528
Ending balance	$ (3,618)	$ (2,431)	$ (2,959)

SUMMARY OF SIGNIFICANT ACCOUN55

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Number / N	Dec. 31, 2015USD ($)
Requirement for private mortgage insurance, loan-to-value ratio	80.00%
Reserve balance	$ 10,128	$ 8,900
Actuarial loss expected to be recognized in net periodic pension costs in 2017	198
Reserve for Unfunded Loan Commitments [Member]
Reserve balance	$ 60	60
Building [Member]
Premises and equipment estimated useful lives	39 years
Bankers Bank Northeast [Member]
Required cash reserve	$ 425	$ 690
Minimum [Member] | Leasehold improvements [Member]
Premises and equipment estimated useful lives	5 years
Minimum [Member] | Furniture and equipment [Member]
Premises and equipment estimated useful lives	3 years
Maximum [Member] | Leasehold improvements [Member]
Premises and equipment estimated useful lives	20 years
Maximum [Member] | Furniture and equipment [Member]
Premises and equipment estimated useful lives	7 years
Residential [Member] | Minimum [Member]
Requirement for private mortgage insurance, loan-to-value ratio	80.00%
401 (k) [Member]
Maximum percentage of participant's annual earnings subject to match by employer for 401(K) plan	6.00%
Employer matching contribution for the first 6% of each participant's annual earnings	50.00%
Massachusetts and Granby and Enfield, Connecticut [Member]
Number of banking offices in which bank operates | Number / N	21

SECURITIES (Details)

SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available-For-Sale Securities
Amortized Cost	$ 305,978	$ 184,933
Gross Unrealized Gains	311	336
Gross Unrealized Losses	(6,174)	(2,679)
Fair Value	300,115	182,590
Held-to-maturity securities
Amortized Cost		238,219
Gross Unrealized Gains		1,871
Gross Unrealized Losses		(2,471)
Fair Value		237,619
Total
Amortized Cost		423,152
Gross Unrealized Gains		2,207
Gross Unrealized Losses		(5,150)
Fair Value		420,209
Government-Sponsored Mortgage-Backed Securities [Member]
Available-For-Sale Securities
Amortized Cost	184,127	138,186
Gross Unrealized Gains	33
Gross Unrealized Losses	(4,024)	(2,227)
Fair Value	180,136	135,959
Held-to-maturity securities
Amortized Cost		148,085
Gross Unrealized Gains		1,319
Gross Unrealized Losses		(1,515)
Fair Value		147,889
US Government Guaranteed Mortgage-Backed Securities [Member]
Available-For-Sale Securities
Amortized Cost	17,753	11,030
Gross Unrealized Losses	(403)	(127)
Fair Value	17,350	10,903
Held-to-maturity securities
Amortized Cost		29,174
Gross Unrealized Gains		166
Gross Unrealized Losses		(66)
Fair Value		29,274
Corporate Bonds [Member]
Available-For-Sale Securities
Amortized Cost	50,255	21,176
Gross Unrealized Gains	265	45
Gross Unrealized Losses	(203)	(85)
Fair Value	50,317	21,136
Held-to-maturity securities
Amortized Cost		23,969
Gross Unrealized Gains		64
Gross Unrealized Losses		(316)
Fair Value		23,717
States and Municipal Bonds [Member]
Available-For-Sale Securities
Amortized Cost	4,117	2,794
Gross Unrealized Gains	13	7
Gross Unrealized Losses	(122)
Fair Value	4,008	2,801
Held-to-maturity securities
Amortized Cost		6,845
Gross Unrealized Gains		68
Gross Unrealized Losses		(102)
Fair Value		6,811
Government-Sponsored Enterprise Obligations [Member]
Available-For-Sale Securities
Amortized Cost	43,140	4,000
Gross Unrealized Losses	(1,132)	(49)
Fair Value	42,008	3,951
Held-to-maturity securities
Amortized Cost		30,146
Gross Unrealized Gains		254
Gross Unrealized Losses		(472)
Fair Value		29,928
Mutual Funds [Member]
Available-For-Sale Securities
Amortized Cost	6,586	6,438
Gross Unrealized Losses	(290)	(191)
Fair Value	$ 6,296	6,247
Common and Preferred Stock [Member]
Available-For-Sale Securities
Amortized Cost		1,309
Gross Unrealized Gains		284
Fair Value		$ 1,593

SECURITIES (Details 1)

SECURITIES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Total	$ 305,978	$ 184,933
Collateralized Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Due after one year through five years	21,877
Available for Sale Securities, Amortized Cost, Due after five years through ten years	17,415
Available for Sale Securities, Amortized Cost, Due after ten years	162,588
Available for Sale Securities, Amortized Cost, Total	201,880
Available for Sale Securities, Fair Value, Due after one year through five years	21,647
Available for Sale Securities, Fair Value, Due after five years through ten years	17,176
Available for Sale Securities, Fair Value, Due after ten years	158,663
Available for Sale Securities, Fair Value, Total	197,486
Debt Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Due in one year or less	18,270
Available for Sale Securities, Amortized Cost, Due after one year through five years	26,730
Available for Sale Securities, Amortized Cost, Due after five years through ten years	45,760
Available for Sale Securities, Amortized Cost, Due after ten years	6,752
Available for Sale Securities, Amortized Cost, Total	97,512
Available for Sale Securities, Fair Value, Due in one year or less	18,262
Available for Sale Securities, Fair Value, Due after one year through five years	26,846
Available for Sale Securities, Fair Value, Due after five years through ten years	44,831
Available for Sale Securities, Fair Value, Due after ten years	6,394
Available for Sale Securities, Fair Value, Total	$ 96,333

SECURITIES (Details 2)

SECURITIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 1,976	$ 1,638	$ 801
Gross losses realized	(837)	(132)	(481)
Net gain realized	$ 1,139	$ 1,506	$ 320

SECURITIES (Details 3)

SECURITIES (Details 3) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Number / N	Dec. 31, 2015USD ($)
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 4,717	$ 2,372
Available for sale, Less Than 12 Months Fair Value	225,652	161,824
Available for sale, Over 12 Months Gross Unrealized Losses	1,457	307
Available for sale, Over 12 Months Fair Value	35,289	8,610
Held to maturity, Less Than 12 Months Gross Unrealized Losses		1,188
Held to maturity, Less Than 12 Months Fair Value		53,694
Held to maturity, Over 12 Months Gross Unrealized Losses		1,283
Held to maturity, Over 12 Months Fair Value		86,610
Total Securities, Less Than 12 Months Gross Unrealized Losses		3,560
Total Securities, Less Than 12 Months Fair Value		215,518
Total Securities, Over 12 Months Gross Unrealized Losses		1,590
Total Securities, Over 12 Months Fair Value		95,220
Amortized Cost Basis - less than 12 months	230,369
Gross Loss - less than 12 months	4,717
Amortized Cost Basis - Over 12 Months	36,746
Gross Loss - Over 12 Months	1,457
Government-Sponsored Mortgage-Backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	3,016	2,090
Available for sale, Less Than 12 Months Fair Value	147,691	129,731
Available for sale, Over 12 Months Gross Unrealized Losses	1,008	137
Available for sale, Over 12 Months Fair Value	$ 27,303	6,228
Held to maturity, Less Than 12 Months Gross Unrealized Losses		947
Held to maturity, Less Than 12 Months Fair Value		45,760
Held to maturity, Over 12 Months Gross Unrealized Losses		568
Held to maturity, Over 12 Months Fair Value		32,825
Number of Securities - less than 12 months | Number / N	56
Amortized Cost Basis - less than 12 months	$ 150,707
Gross Loss - less than 12 months	$ 3,016
Depreciation from Amortized Cost Basis (%) - less than 12 months	2.00%
Number of Securities - Over 12 Months | Number / N	10
Amortized Cost Basis - Over 12 Months	$ 28,311
Gross Loss - Over 12 Months	$ 1,008
Depreciation from Amortized Cost Basis (%) - Over 12 months	3.60%
US Government Guaranteed Mortgage-Backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 192	116
Available for sale, Less Than 12 Months Fair Value	12,536	10,290
Available for sale, Over 12 Months Gross Unrealized Losses	211	11
Available for sale, Over 12 Months Fair Value	$ 4,814	613
Held to maturity, Less Than 12 Months Gross Unrealized Losses		37
Held to maturity, Less Than 12 Months Fair Value		2,522
Held to maturity, Over 12 Months Gross Unrealized Losses		29
Held to maturity, Over 12 Months Fair Value		15,401
Number of Securities - less than 12 months | Number / N	4
Amortized Cost Basis - less than 12 months	$ 12,728
Gross Loss - less than 12 months	$ 192
Depreciation from Amortized Cost Basis (%) - less than 12 months	1.50%
Number of Securities - Over 12 Months | Number / N	2
Amortized Cost Basis - Over 12 Months	$ 5,025
Gross Loss - Over 12 Months	$ 211
Depreciation from Amortized Cost Basis (%) - Over 12 months	4.20%
Corporate Bonds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 203	85
Available for sale, Less Than 12 Months Fair Value	$ 18,481	13,374
Held to maturity, Less Than 12 Months Gross Unrealized Losses		204
Held to maturity, Less Than 12 Months Fair Value		5,412
Held to maturity, Over 12 Months Gross Unrealized Losses		112
Held to maturity, Over 12 Months Fair Value		13,382
Number of Securities - less than 12 months | Number / N	5
Amortized Cost Basis - less than 12 months	$ 18,684
Gross Loss - less than 12 months	$ 203
Depreciation from Amortized Cost Basis (%) - less than 12 months	1.10%
Number of Securities - Over 12 Months | Number / N	0
States and Municipal Bonds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 95
Available for sale, Less Than 12 Months Fair Value	1,507
Available for sale, Over 12 Months Gross Unrealized Losses	27
Available for sale, Over 12 Months Fair Value	$ 305
Held to maturity, Over 12 Months Gross Unrealized Losses		102
Held to maturity, Over 12 Months Fair Value		4,809
Number of Securities - less than 12 months | Number / N	3
Amortized Cost Basis - less than 12 months	$ 1,602
Gross Loss - less than 12 months	$ 95
Depreciation from Amortized Cost Basis (%) - less than 12 months	5.90%
Number of Securities - Over 12 Months | Number / N	1
Amortized Cost Basis - Over 12 Months	$ 332
Gross Loss - Over 12 Months	$ 27
Depreciation from Amortized Cost Basis (%) - Over 12 months	8.10%
Government-Sponsored Enterprise Obligations [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 1,132	49
Available for sale, Less Than 12 Months Fair Value	$ 42,008	3,951
Held to maturity, Over 12 Months Gross Unrealized Losses		472
Held to maturity, Over 12 Months Fair Value		20,193
Number of Securities - less than 12 months | Number / N	11
Amortized Cost Basis - less than 12 months	$ 43,140
Gross Loss - less than 12 months	$ 1,132
Depreciation from Amortized Cost Basis (%) - less than 12 months	2.60%
Number of Securities - Over 12 Months | Number / N	0
Mutual Funds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 79	32
Available for sale, Less Than 12 Months Fair Value	3,429	4,478
Available for sale, Over 12 Months Gross Unrealized Losses	211	159
Available for sale, Over 12 Months Fair Value	$ 2,867	$ 1,769
Number of Securities - less than 12 months | Number / N	1
Amortized Cost Basis - less than 12 months	$ 3,508
Gross Loss - less than 12 months	$ 79
Depreciation from Amortized Cost Basis (%) - less than 12 months	2.30%
Number of Securities - Over 12 Months | Number / N	2
Amortized Cost Basis - Over 12 Months	$ 3,078
Gross Loss - Over 12 Months	$ 211
Depreciation from Amortized Cost Basis (%) - Over 12 months	6.90%

SECURITIES (Details Narrative)

SECURITIES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales	$ 136,800	$ 136,829	$ 134,437	$ 71,738
Held to maturity securities transfer	$ 232,800

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 1,561,617	$ 814,390
Unearned premiums and deferred loan fees and costs, net	4,867	3,823
Allowance for loan losses	(10,068)	(8,840)	$ (7,948)	$ (7,459)
Loans, net	1,556,416	809,373
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	720,741	303,036
Allowance for loan losses	(4,083)	(3,856)	(3,705)	(3,550)
Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	522,083	298,052
Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	92,083	43,512
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	222,286	168,256
Allowance for loan losses	(3,085)	(2,485)	(2,174)	(2,191)
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	4,424	1,534
Allowance for loan losses	$ (38)	$ (22)	$ (15)	$ (13)

LOANS (Details 1)

LOANS (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Receivables [Abstract]
Capitalized mortgage servicing rights	$ 502
Amortization	37
Balance at the end of year	465
Fair value at the end of year	$ 628

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Beginning Balance	$ 8,840	$ 7,948	$ 7,459
Provision (credit)	575	1,275	1,575
Charge-offs	(486)	(476)	(1,223)
Recoveries	1,139	93	137
Ending Balance	10,068	8,840	7,948
Commercial Real Estate [Member]
Beginning Balance	3,856	3,705	3,550
Provision (credit)	(668)	151	505
Charge-offs	(170)		(350)
Recoveries	1,065
Ending Balance	4,083	3,856	3,705
Residential Real Estate [Member]
Beginning Balance	2,431	2,053	1,707
Provision (credit)	579	428	376
Charge-offs	(157)	(58)	(31)
Recoveries	9	8	1
Ending Balance	2,862	2,431	2,053
Commercial and Industrial [Member]
Beginning Balance	2,485	2,174	2,191
Provision (credit)	575	605	649
Charge-offs		(345)	(787)
Recoveries	25	51	121
Ending Balance	3,085	2,485	2,174
Consumer [Member]
Beginning Balance	22	15	13
Provision (credit)	135	46	42
Charge-offs	(159)	(73)	(55)
Recoveries	40	34	15
Ending Balance	38	22	15
Unallocated [Member]
Beginning Balance	46	1	(2)
Provision (credit)	$ (46)	45	3
Ending Balance		$ 46	$ 1

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	$ 10,068	$ 8,840
Total allowance for loan losses	10,068	8,840	$ 7,948	$ 7,459
Loans individually evaluated and deemed impaired	6,829	7,494
Loan collectively or individually evaluated and not deemed impaired	1,533,269	806,896
Amount of loans acquired with deteriorated credit quality	21,519
Total loans	1,561,617	814,390
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	4,083	3,856
Total allowance for loan losses	4,083	3,856	3,705	3,550
Loans individually evaluated and deemed impaired	3,335	3,732
Loan collectively or individually evaluated and not deemed impaired	701,766	299,304
Amount of loans acquired with deteriorated credit quality	15,640
Total loans	720,741	303,036
Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	2,862	2,431
Total allowance for loan losses	2,862	2,431	2,053	1,707
Loans individually evaluated and deemed impaired	452	399
Loan collectively or individually evaluated and not deemed impaired	609,107	341,165
Amount of loans acquired with deteriorated credit quality	4,607
Total loans	614,166	341,564
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	3,085	2,485
Total allowance for loan losses	3,085	2,485	2,174	2,191
Loans individually evaluated and deemed impaired	3,042	3,363
Loan collectively or individually evaluated and not deemed impaired	217,972	164,893
Amount of loans acquired with deteriorated credit quality	1,272
Total loans	222,286	168,256
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired	38	22
Total allowance for loan losses	38	22	15	13
Loan collectively or individually evaluated and not deemed impaired	4,424	1,534
Total loans	$ 4,424	1,534
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loans collectively or individually evaluated for impairment and not deemed impaired		46
Total allowance for loan losses		$ 46	$ 1	$ (2)

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	$ 3,381
Loans acquired from Chicopee Savings Bank	6,312
Total Past Due	9,693	$ 4,249
Loans on Non-Accrual		8,080
Total legacy loans on non-accrual	7,663
Loans acquired from Chicopee Savings Bank as non accrual	6,394
Total past due on non accrual	14,057
30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	1,654
Loans acquired from Chicopee Savings Bank	3,854
Total Past Due	5,508	1,373
60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	894
Loans acquired from Chicopee Savings Bank	1,907
Total Past Due	2,801	1,503
Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	833
Loans acquired from Chicopee Savings Bank	551
Total Past Due	1,384	1,373
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	994
Total Past Due		1,098
Loans on Non-Accrual	2,740	3,237
Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	302
Total Past Due		348
Commercial Real Estate [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	555
Total Past Due		730
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	137
Total Past Due		20
Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	1,742
Total Past Due		1,546
Loans on Non-Accrual	1,658	1,470
Residential [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	791
Total Past Due		638
Residential [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	262
Residential [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	689
Total Past Due		908
Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	244
Total Past Due		354
Loans on Non-Accrual	37
Home Equity [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	208
Total Past Due		230
Home Equity [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	36
Total Past Due		124
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	358
Total Past Due		1,221
Loans on Non-Accrual	3,214	3,363
Commercial and Industrial [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	326
Total Past Due		127
Commercial and Industrial [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	32
Total Past Due		649
Commercial and Industrial [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		445
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	43
Total Past Due		30
Loans on Non-Accrual	14	10
Consumer [Member] | 30-59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	27
Total Past Due		$ 30
Consumer [Member] | 60 - 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	9
Consumer [Member] | Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total legacy loans	$ 7

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015
Total Impaired loans:
Recorded Investment		$ 28,348	[1]	$ 7,494
Unpaid Principal Balance		38,055	[1]	9,354
Average Recorded Investment		10,014	[1]	7,333
Interest Income Recognized		238	[1]	27
Commercial Real Estate [Member]
Total Impaired loans:
Recorded Investment		18,975	[1]	3,732
Unpaid Principal Balance		21,330	[1]	4,403
Average Recorded Investment		5,458	[1]	3,332
Interest Income Recognized		191	[1]	27
Residential Real Estate [Member]
Total Impaired loans:
Recorded Investment		5,059	[1]	399
Unpaid Principal Balance		5,676	[1]	543
Average Recorded Investment		1,052	[1]	330
Interest Income Recognized	[1]	7
Commercial and Industrial [Member]
Total Impaired loans:
Recorded Investment		4,314	[1]	3,363
Unpaid Principal Balance		11,049	[1]	4,408
Average Recorded Investment		3,504	[1]	$ 3,671
Interest Income Recognized	[1]	$ 40
[1]	Includes loans acquired with deteriorated credit quality.

LOANS (Details 6)

LOANS (Details 6) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Number / N	Dec. 31, 2015USD ($)Number / N
Number of Contracts | Number / N	9	1
Pre- Modification Outstanding Recorded Investment	$ 5,400	$ 478
Post- Modification Outstanding Recorded Investment	$ 5,400	$ 478
Commercial Real Estate [Member]
Number of Contracts | Number / N	2	1
Pre- Modification Outstanding Recorded Investment	$ 1,946	$ 478
Post- Modification Outstanding Recorded Investment	$ 1,946	$ 478
Residential Real Estate [Member]
Number of Contracts | Number / N	4
Pre- Modification Outstanding Recorded Investment	$ 555
Post- Modification Outstanding Recorded Investment	$ 555
Commercial and Industrial [Member]
Number of Contracts | Number / N	3
Pre- Modification Outstanding Recorded Investment	$ 2,899
Post- Modification Outstanding Recorded Investment	$ 2,899

LOANS (Details 7)

LOANS (Details 7) - Chicopee Bancorp Inc [Member] $ in Thousands	2 Months Ended
	Dec. 31, 2016USD ($)
Loans receivable at acquisition - Contractually Required Payments Receivable	$ 38,590
Loans receivable at acquisition - Cash Flows Expected to be Collected	30,091
Loans receivable at acquisition - Non-Accretable Yield	8,499
Loans receivable at acquisition - Accretable Yield	7,723
Loans receivable at acquisition - Outstanding beginning	22,368
Collections - Contractually Required Payments Receivable	(753)
Collections - Cash Flows Expected to be Collected	(753)
Collections - Accretable Yield	(206)
Collections	(547)
Transfer to OREO - Contractually Required Payments Receivable	(400)
Transfer to OREO - Cash Flows Expected to be Collected	(298)
Transfer to OREO - Non-Accretable Yield	(102)
Transfer to OREO - Accretable Yield	4
Transfer to OREO	(302)
Loans receivable at acquisition - Contractually Required Payments Receivable ending	37,437
Loans receivable at acquisition - Cash Flows Expected to be Collected ending	29,040
Loans receivable at acquisition - Non-Accretable Yield	8,397
Loans receivable at acquisition - Accretable Yield ending	7,521
Loans receivable at acquisition - Outstanding ending	$ 21,519

LOANS (Details 8)

LOANS (Details 8) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,561,617	$ 814,390
Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,467,326	746,158
Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	40,834	43,113
Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	20,795	572
Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	27,873	24,547
Loans rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,789
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	720,741	303,036
Commercial Real Estate [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	673,957	269,124
Commercial Real Estate [Member] | Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	24,207	27,053
Commercial Real Estate [Member] | Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	14,068	138
Commercial Real Estate [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	6,604	6,721
Commercial Real Estate [Member] | Loans rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,905
Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	522,083	298,052
Residential [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	516,339	296,582
Residential [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,744	1,470
Home Equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	92,083	43,512
Home Equity [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	91,964	43,512
Home Equity [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	119
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	222,286	168,256
Commercial and Industrial [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	180,675	135,416
Commercial and Industrial [Member] | Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	16,621	16,060
Commercial and Industrial [Member] | Loans rated 5 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	6,727	434
Commercial and Industrial [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	15,379	16,346
Commercial and Industrial [Member] | Loans rated 7 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	2,884
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,424	1,534
Consumer [Member] | Loans rated 1-3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,391	1,524
Consumer [Member] | Loans rated 4 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	6
Consumer [Member] | Loans rated 6 [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 27	$ 10

LOANS (Details Narrative)

LOANS (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)Number / N$ / Loans	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Purchase of residential mortgages	$ 108,448,000	$ 90,743,000	$ 53,272,000
Serviced commercial loans for participants	42,600,000	19,500,000
Mortgage loans serviced for others	75,200,000	1,000,000
Loans	1,561,617,000	814,390,000
TDR Charge offs	345,857
Net service fee income	$ 12,500	4,000	$ 4,000
Weighted average internal rate of return	9.05%
Weighted average servicing fee	0.2501%
Net cost to service loans | $ / Loans	51.67
Chicopee Bancorp Inc [Member]
Number of loans - subsequent default | Number / N	3
TDR subsequent default loan amount	$ 440,000
Substandard [Member]
Loans	27,873,000	24,547,000
Impaired loans desginated as TDR	4,600,000
Commercial Real Estate - Construction Loans [Member]
Loans	$ 88,900,000	$ 23,100,000

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 41,152	$ 32,402
Accumulated depreciation and amortization	(20,267)	(18,838)
Premises and equipment, net	20,885	13,564
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	5,651	4,121
Building [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	19,191	13,738
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	2,220	2,209
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 14,090	$ 12,334

PREMISES AND EQUIPMENT (Detai72

PREMISES AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 1,429	$ 1,315	$ 1,189

GOODWILL AND OTHER INTANGIBLE73

GOODWILL AND OTHER INTANGIBLES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisition of Chicopee	$ 13,747
Goodwill, balance at end of year	$ 13,747

GOODWILL AND OTHER INTANGIBLE74

GOODWILL AND OTHER INTANGIBLES (Details 1) $ in Thousands	Dec. 31, 2016USD ($)
Core deposit intangible, net	$ 4,438
Core Deposit Intangibles [Member]
Core deposit intangible	4,511
Accumulated amortization	73
Core deposit intangible, net	$ 4,438

GOODWILL AND OTHER INTANGIBLE75

GOODWILL AND OTHER INTANGIBLES (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Acquired deposit liabilities	$ 545,700
Acquired core deposit liabilities	345,200
Amortization of core deposit intangible	73
Core Deposit Intangibles [Member]
Amortization of core deposit intangible	73
Future amortization of core deposit intangible assets years 1-5	376
Future amortization of core deposit intangible assets thereafter	$ 2,600

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Demand and Interest bearing:
Interest-bearing accounts	$ 82,406	$ 28,913
Demand deposits	303,993	157,844
Savings:
Regular accounts	121,262	75,225
Money market accounts	437,467	242,647
Time certificates of deposit	572,943	395,734
Total deposits	$ 1,518,071	$ 900,363

DEPOSITS (Details 1)

DEPOSITS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Maturities of time certificates of deposit
Year ending December 31, 2017	$ 321,078
Year ending December 31, 2018	144,801
Year ending December 31, 2019	54,508
Year ending December 31, 2020	32,047
Year ending December 31, 2021	20,509
Total	$ 572,943	$ 395,734

DEPOSITS (Details 2)

DEPOSITS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest expense on deposits:
Regular	$ 89	$ 79	$ 80
Money market	1,201	830	846
Time	5,144	4,583	4,152
Interest-bearing demand	147	79	99
Deposits	$ 6,581	$ 5,571	$ 5,177

DEPOSITS (Details Narrative)

DEPOSITS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deposits Details Narrative
Time deposits over $250,000 or more	$ 133,800
Interest expense on time deposits $250,000 or more	1,000
Cash paid for interest on deposits	$ 6,581	$ 5,571	$ 5,177

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Customer Repurchase Agreements
Balance outstanding at year end	$ 172,351	$ 128,407
Cutomer Repurchase Agreements [Member]
Customer Repurchase Agreements
Balance outstanding at year end	17,351	34,657
Maximum amount outstanding during year	50,124	48,582
Average amount outstanding during year	$ 28,130	$ 38,883
Weighted average interest rate at end of year	0.14%	0.20%
Amortized cost of collateral pledged at end of year	$ 80,106	$ 67,440
Fair value of collateral pledged at end of year	$ 82,218	$ 69,948

SHORT-TERM BORROWINGS (Detail N

SHORT-TERM BORROWINGS (Detail Narrative) - USD ($) $ in Thousands	12 Months Ended			24 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Short-term borrowings	$ 172,351	$ 128,407		$ 172,351	$ 128,407
Collateralized Government-sponsored enterprise obligations [Member] | Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Weighted average interest rate				2.62%	3.64%
Government-Sponsored Mortgage-Backed Securities [Member]
Debt Instrument [Line Items]
Fair value of collateralized repurchase agreements	24,600	6,500		$ 24,600	$ 6,500
Collateralized Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Fair value of collateralized repurchase agreements	57,600	63,500		57,600	63,500
BBN [Member]
Debt Instrument [Line Items]
Line of credit available	4,000			4,000
Required cash reserve amount	300			300
PNC Bank [Member]
Debt Instrument [Line Items]
Line of credit available	50,000			50,000
FHLBB Ideal Way Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit available	9,500	9,500		9,500	9,500
FHLBB Advances [Member]
Debt Instrument [Line Items]
Short-term borrowings	$ 155,000	$ 93,800		$ 155,000	$ 93,800
Weighted average rate	0.78%	0.44%		0.78%	0.44%
Short Term Debt [Member]
Debt Instrument [Line Items]
Cash paid for interest	$ 2,400	$ 1,068	$ 414

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fixed-rate advances maturing:
Total advances, amount	$ 124,836	$ 147,440
Weighted average rate
Advances, weighted average rate	2.00%	2.10%
FHLBB Advances - Fixed Rate [Member]
Fixed-rate advances maturing:
2,016		$ 24,940
2,017	$ 15,298	47,500
2,018	28,789	20,000
2,019	31,288	16,000
2,020	16,782	7,000
2,021	5,039
2,022	4,804
2,024	836
Total advances, amount	$ 102,836	$ 115,440
Weighted average rate
2,016		1.30%
2,017	2.70%	2.40%
2,018	1.90%	2.00%
2,019	2.10%	2.50%
2,020	1.70%	1.80%
2,021	1.20%
2,022	1.90%
2,024	2.60%
Advances, weighted average rate	2.00%	2.10%
FHLBB Advances - Variable Rate [Member]
Fixed-rate advances maturing:
2,016		$ 10,000
2,018	$ 22,000	22,000
Total advances, amount	$ 22,000	$ 32,000
Weighted average rate
2,016		1.70%
2,018	2.10%	2.10%
Advances, weighted average rate	2.10%	2.00%

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$ 124,836	$ 153,358
Customer Repurchase Agreements Long-term [Member]
Debt Instrument [Line Items]
Long-term debt		$ 5,900
Long term debt, interest rate		2.50%
Long Term Debt [Member]
Debt Instrument [Line Items]
Cash paid for interest	2,300	$ 4,100	$ 4,300
FHLBB Advances [Member]
Debt Instrument [Line Items]
Securities pledged as collateral to FHLB	212,300
Repayment of advances	$ 42,500
Weighted average rate	2.29%
Prepayment penalty	$ 915

STOCK PLANS AND EMPLOYEE STOC84

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Options, Outstanding
Outstanding at beginning | shares
Converted options upon merger | shares	1,510,527
Exercised | shares	(331,628)
Outstanding at end | shares	1,178,899
Exercisable at end | shares	1,178,899
Options, Outstanding, Weighted Average Exercise Price
Outstanding at beginning
Converted options upon merger	6
Exercised	5.96
Outstanding at end	6.01
Exercisable at end	$ 6.01
Options, Outstanding, Weighted Average Remaining Term
Converted options upon merger	2 years 7 days
Exercised	1 year 5 months 26 days
Outstanding at end	1 year 11 months 23 days
Exercisable at end	1 year 11 months 23 days
Options, Outstanding, Aggregate Intrinsic Value
Outstanding at beginning | $
Converted options upon merger	$ 2,866
Exercised | $	$ 1,016
Outstanding at end | $	3,930
Exercisable at end | $	$ 3,930

STOCK PLANS AND EMPLOYEE STOC85

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Details 1) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Shares
Beginning balance | shares	54,160
Shares granted | shares	62,740
Shares vested | shares	(25,529)
Ending balance | shares	91,371
Weighted average grant date fair value
Beginning balance | $ / shares	$ 7.28
Shares granted | $ / shares	7.73
Shares vested | $ / shares	7.58
Ending balance | $ / shares	$ 7.51

STOCK PLANS AND EMPLOYEE STOC86

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Long-term debt	$ 124,836	$ 153,358
Loan To Employee Stock Ownership Plan Trust [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
2,017	447
2,018	447
2,019	447
2,020	447
2,021	447
Thereafter	5,631
Long-term debt	$ 7,866

STOCK PLANS AND EMPLOYEE STOC87

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Details 3) - shares	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Allocated	832,308	776,517
Committed to be allocated	79,082	76,888
Unallocated	884,781	963,863
Employee Stock Ownership Plan (ESOP), Shares in ESOP, Total	1,796,171	1,817,268

STOCK PLANS AND EMPLOYEE STOC88

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Detail Narrative) - USD ($)	1 Months Ended		12 Months Ended
	May 31, 2016	Jan. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	May 31, 2014	Dec. 31, 2007
Restricted Stock Awards
Share-based compensation expense			$ 262,000	$ 131,000	$ 92,000
Stock base compensation, tax benefit			89,000	$ 44,000	$ 31,000
Unrecognized share-based compensation cost related to stock awards			$ 536,000
Share based compensation cost, weighted average recognition period			2 years 26 days
Fair value restricted stock vested			$ 213,944
Issuance of common stock in connection with stock option exercises			$ 1,971,000
Stock Compensation Plan [Member]
Restricted Stock Awards
Shares authorized						516,000
Shares granted		48,560
Vesting term		5 years
Restricted Stock [Member]
Restricted Stock Awards
Shares authorized							624,041
Shares granted			62,740
LTI Plan [Member]
Restricted Stock Awards
Shares granted	62,740
Share based compensation, shares available for grant			404,700
LTI Plan [Member] | Retention Based Shares [Member]
Restricted Stock Awards
Shares granted	36,543
LTI Plan [Member] | Retention Based Shares [Member] | Award, Tranche One [Member]
Restricted Stock Awards
Shares granted	10,352
Vesting term	1 year
LTI Plan [Member] | Retention Based Shares [Member] | Award, Tranche Two [Member]
Restricted Stock Awards
Shares granted	26,191
Vesting term	3 years
LTI Plan [Member] | Performance Shares [Member]
Restricted Stock Awards
Shares granted	26,197
Vesting term	3 years
Percent of awards under plan	50.00%
Return on equity - performance threshold	5.85%
Return on equity - target	6.32%
Percent of awards participants may earn (target)	100.00%
Percent of awards participants may earn (threshold)	50.00%
LTI Plan [Member] | Time-Vested Restricted Stock [Member]
Restricted Stock Awards
Percent of awards under plan			50.00%

STOCK PLANS AND EMPLOYEE STOC89

STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Detail Narrative 1) $ in Thousands	1 Months Ended		12 Months Ended
	Jan. 31, 2007shares	Jan. 31, 2002Number / Nshares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Employee Stock Owneship Plan
Employee age required to qualify for ESOP benefit | Number / N		21
Minimum working hours needed for eligibility | Number / N		1,000
Purchase of common stock by ESOP Trust of IPO, percent	4.00%	8.00%
Purchase of common stock by ESOP Trust of IPO | shares	736,000	1,305,359
Number of shares sold in IPO | shares		18,400,000
Total ESOP compensation expense | $			$ 630	$ 582	$ 576
Fair value of unallocated ESOP shares | $			$ 8,500	$ 8,100
Loan To Employee Stock Ownership Plan Trust [Member]
Employee Stock Owneship Plan
Debt, interest rate			8.00%

RETIREMENT PLANS AND EMPLOYEE90

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Change in benefit obligation:
Benefit obligation at beginning of year	$ 22,458	$ 23,634	$ 19,039
Service cost	1,130	1,234	1,000
Interest	959	902	824
Actuarial (gain) loss	1,846	(2,040)	3,085
Benefits paid	(574)	(1,272)	(314)
Benefit obligation at end of year	25,819	22,458	23,634
Change in plan assets:
Balance at beginning of year	15,233	15,947	13,811
Actual return (loss) on plan assets	1,039	(242)	1,725
Employer contribution	800	800	725
Benefits paid (change in plan assets)	(574)	(1,272)	(314)
Balance at end of year	16,498	15,233	15,947
Funded status and accrued benefit at end of year	(9,321)	(7,225)	(7,687)
Accumulated benefit obligation at end of year	$ 19,027	$ 16,885	$ 16,423

RETIREMENT PLANS AND EMPLOYEE91

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details 1)	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Discount rate	4.15%	4.35%
Rate of compensation increase	4.00%	4.00%

RETIREMENT PLANS AND EMPLOYEE92

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Service cost	$ 1,130	$ 1,234	$ 1,000
Interest cost	959	902	824
Expected return on assets	(1,097)	(1,134)	(959)
Amortization of transition asset			(10)
Amortization of actuarial loss	102	118
Net periodic pension cost	$ 1,094	$ 1,120	$ 855

RETIREMENT PLANS AND EMPLOYEE93

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details 3)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Service Costs Assumptions
Discount rate	4.35%	4.00%	5.00%
Expected return on plan assets	7.50%	7.50%	7.50%
Rate of compensation increase	4.00%	4.00%	4.00%

RETIREMENT PLANS AND EMPLOYEE94

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details 4) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	$ 16,498	$ 15,233	$ 15,947	$ 13,811
Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	16,498	15,233
United States Large Cap Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	4,346	3,962
United States Large Cap Equity [Member] | Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	4,346	3,962
U S Small Mid Cap Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	782	926
U S Small Mid Cap Equity [Member] | Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	782	926
International Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	1,730	1,495
International Equity [Member] | Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	1,730	1,495
Asset Allocation [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	332	741
Asset Allocation [Member] | Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	332	741
Fixed Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	9,308	8,109
Fixed Income [Member] | Fair Value Inputs Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Define benefit plan fair value of plan asset	$ 9,308	$ 8,109

RETIREMENT PLANS AND EMPLOYEE95

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details 5) $ in Thousands	Dec. 31, 2016USD ($)
Compensation and Retirement Disclosure [Abstract]
2,017	$ 622
2,018	1,235
2,019	1,077
2,020	1,045
2,021	1,184
In aggregate for 2022 - 2026	$ 13,965

RETIREMENT PLANS AND EMPLOYEE96

RETIREMENT PLANS AND EMPLOYEE BENEFITS (Details Narrative) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2002Number / N	Dec. 31, 2016USD ($)Number / N	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum working hours needed for eligibility	1,000
Fixed Income [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan target plan asset allocations		57.00%
Common and Preferred Stock [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan target plan asset allocations		43.00%
401 (k) [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution for the first 6% of each participant's annual earnings		50.00%
Maximum percentage of participant's annual earnings subject to match by employer for 401(K) plan		6.00%
Employer contribution to plan | $		$ 242	$ 224	$ 236
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum working hours needed for eligibility		1,000

DERIVATIVES AND HEDGING ACTIV97

DERIVATIVES AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair value of derivative assets	$ 3,152	$ 6,064
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair value of derivative liability	3,152	6,064
Other Liabilities [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Fair value of derivative liability	$ 3,152	$ 6,064

DERIVATIVES AND HEDGING ACTIV98

DERIVATIVES AND HEDGING ACTIVITIES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Notional Amount	$ 75,000	$ 107,500
Weighted Average Maturity	3 years 4 months 24 days	4 years 10 months 25 days
Estimated Fair Value	$ (3,152)	$ (6,064)
Forward Starting Interest Rate Swap Agreement [Member]
Notional Amount		$ 67,500
Weighted Average Maturity		6 years 6 months
Weighted Average Rate Paid		3.42%
Estimated Fair Value		$ (5,734)
Interest Rate Swap Agreement [Member]
Notional Amount	$ 75,000	$ 40,000
Weighted Average Maturity	3 years 4 months 24 days	2 years 3 months 18 days
Weighted Average Rate Received	0.92%	0.32%
Weighted Average Rate Paid	2.46%	1.52%
Estimated Fair Value	$ (3,152)	$ (330)

DERIVATIVES AND HEDGING ACTIV99

DERIVATIVES AND HEDGING ACTIVITIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest Rate Swap [Member] | Derivatives Designated As Cash Flow Hedges [Member]
Amount of Loss Recognized in OCI on Derivative	$ (1,126)	$ (3,337)	$ (7,684)

DERIVATIVES AND HEDGING ACTI100

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative notional amount	$ 75,000	$ 107,500
Termination value of derivatives in a net liability position		8,200
Reclassifications amount, effective portion	1,600	742	$ 190
Estimated amount to be reclassified during the next 12 month period	2,100
Derivatives in net liability position, value	3,200	6,200
Collateralized Mortgage Backed Securities [Member]
Fair value of mortgage backed securities collateralized	4,500
Terminated Foward Starting Interest Rate Swap [Member]
Derivative notional amount	32,500	47,500
Termination fees	$ 3,400	$ 2,400
Termination fees amortized period	6 years	5 years
Forward Starting Interest Rate Swap Agreement [Member]
Derivative notional amount		$ 67,500

REGULATORY CAPITAL (Details)

REGULATORY CAPITAL (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Total Capital (to Risk Weighted Assets):
Total Capital	$ 245,389	$ 159,386
Total Capital (to risk-weighted assets) ratio	15.10%	17.20%
Minimum amount of capital for adequacy purposes	$ 130,037	$ 74,136
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier 1 Capital (to Risk Weighted Assets):
Tier 1 Capital	$ 235,261	$ 150,444
Tier 1 Capital (to risk-weighted assets) ratio	14.47%	16.23%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 97,528	$ 55,602
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Common Equity Tier 1 Capital (to risk-weighted assets)
Common Equity Tier 1 Capital	$ 235,261	$ 150,444
Common Equity Tier 1 Capital (to risk-weighted assets) ratio	14.47%	16.23%
Minimum amount of Common Equity Tier 1 Capital for adequacy purposes	$ 73,146	$ 41,702
Minimum amount of Common Equity Tier 1 Capital for adequacy purposes, ratio	4.50%	4.50%
Tier 1 Leverage Ratio (to Adjusted Average Assets):
Tier 1 Leverage ratio	$ 235,261	$ 150,444
Tier 1 Leverage (to adjusted average assets) ratio	12.19%	11.16%
Minimum amount of Tier 1 Leverage for adequacy purposes	$ 77,187	$ 53,876
Minimum amount of Tier 1 Leverage for adequacy purposes, ratio	4.00%	4.00%
Bank [Member]
Total Capital (to Risk Weighted Assets):
Total Capital	$ 237,626	$ 151,327
Total Capital (to risk-weighted assets) ratio	14.64%	16.36%
Minimum amount of capital for adequacy purposes	$ 129,879	$ 74,006
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Minimum Capital required to be well-capitalized	$ 162,349	$ 92,508
Minimum Capital required to be well-capitalized, ratio	10.00%	10.00%
Tier 1 Capital (to Risk Weighted Assets):
Tier 1 Capital	$ 227,498	$ 142,427
Tier 1 Capital (to risk-weighted assets) ratio	14.01%	15.40%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 97,409	$ 55,505
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Minimum Tier 1 Capital required to be well-capitalized	$ 129,879	$ 74,006
Minimum Tier 1 Capital required to be well-capitalized, ratio	8.00%	8.00%
Common Equity Tier 1 Capital (to risk-weighted assets)
Common Equity Tier 1 Capital	$ 227,498	$ 142,427
Common Equity Tier 1 Capital (to risk-weighted assets) ratio	14.01%	15.40%
Minimum amount of Common Equity Tier 1 Capital for adequacy purposes	$ 73,057	$ 41,629
Minimum amount of Common Equity Tier 1 Capital for adequacy purposes, ratio	4.50%	4.50%
Minimum Common Equity Tier 1 Capital required to be well-capitalized	$ 105,527	$ 60,130
Minimum Common Equity Tier 1 Capital required to be well-capitalized, ratio	6.50%	6.50%
Tier 1 Leverage Ratio (to Adjusted Average Assets):
Tier 1 Leverage ratio	$ 227,498	$ 142,427
Tier 1 Leverage (to adjusted average assets) ratio	11.86%	10.58%
Minimum amount of Tier 1 Leverage for adequacy purposes	$ 76,745	$ 53,871
Minimum amount of Tier 1 Leverage for adequacy purposes, ratio	4.00%	4.00%
Minimum Tier 1 Capital required to be well-capitalized	$ 95,931	$ 67,339
Minimum Tier 1 Leverage required to be well-capitalized, ratio	5.00%	5.00%

REGULATORY CAPITAL (Details 1)

REGULATORY CAPITAL (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Banking and Thrift [Abstract]
Consolidated GAAP capital	$ 238,396	$ 139,466	$ 142,543	$ 154,144
Net unrealized losses on available-for-sale securities, net of tax	3,839	3,046
Unrealized loss on defined benefit pension plan, net of tax	3,618	2,431
Accumulated net loss on cash flow hedges, net of tax	5,204	5,501
Unrealized loss on certain available-for-sale equity securities	(191)
Disallowed deferred tax assets	(155)
Goodwill	(13,747)
Intangible assets, net of associated deferred tax liabilities	(1,599)
Additional tier 1 capital deductions	(104)
Tier 1 and Common Equity Tier 1 capital	235,261	150,444
Unrealized gains on certain available-for-sale equity securities		42
Allowance for loan losses and unfunded loan commitments	10,128	8,900
Total regulatory capital	$ 245,389	$ 159,386

REGULATORY CAPITAL (Details Nar

REGULATORY CAPITAL (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Jun. 24, 2015	Mar. 13, 2014
Number of shares authorized to be repurchased			711,733	1,970,000
Number of shares authorized to be repurchased as percentage of total outstanding shares of common stock				10.00%
Number of shares available to be purchased under repurchase program	484,668
Restricted equity in net assets	$ 129,900	$ 74,000
Tier 1 Capital (to risk-weighted assets) ratio	14.47%	16.23%
Common Equity Tier 1 Capital (to risk-weighted assets) ratio	14.47%	16.23%
Tier 1 Leverage (to adjusted average assets) ratio	12.19%	11.16%
Capital converservation buffer of Common Equity Tier 1 Capital ratio		2.50%
Percentage of initial phase-in amount	0.625%
Minimum [Member]
Tier 1 Capital (to risk-weighted assets) ratio		6.00%
Common Equity Tier 1 Capital (to risk-weighted assets) ratio		4.50%
Tier 1 Leverage (to adjusted average assets) ratio		4.00%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current tax provision:
Federal									$ 1,925	$ 2,036	$ 1,854
State									370	319	221
Total									2,295	2,355	2,075
Deferred tax (benefit) provision:
Federal									262	(203)	(172)
State									10	(82)	(52)
Change in valuation reserve									2	54	31
Total									274	(231)	(193)
Total	$ 1,074	$ 423	$ 250	$ 822	$ 529	$ 680	$ 445	$ 470	$ 2,569	$ 2,124	$ 1,882

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	34.00%	34.00%	34.00%
Increase (decrease) resulting from state taxes, net of federal tax benefit	3.40%	1.60%	1.20%
Increase (decrease) resulting from tax exempt income	(2.60%)	(3.20%)	(4.10%)
Increase (decrease) resulting from bank-owned life insurance (BOLI)	(7.20%)	(6.60%)	(6.40%)
Increase (decrease) resulting from nondeductible merger expenses	8.30%
Increase (decrease) resulting from change in valuation reserve		0.70%	0.40%
Increase (decrease) resulting from other, net	(1.20%)	0.60%	(1.70%)
Effective tax rate	34.70%	27.10%	23.40%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Allowance for loan losses	$ 4,021	$ 3,531
Net unrealized loss on derivative and hedging activity	2,681	2,833
Employee benefit and share-based compensation plans	3,220	2,682
Defined benefit plan	1,864	1,254
Net unamortized loss on securities transferred from available for sale to held to maturity		799
Net unrealized loss on securities available for sale	2,024	812
Other-than-temporary impairment write-down	129	129
Purchased mortgage servicing rights	562
Purchase accounting adjustments	1,824
Net operating loss and tax credit carryforwards	1,320
Other	787	648
Gross deferred tax assets	18,432	12,688
Valuation reserve	(973)	(971)
Gross deferred tax assets, net of valuation reserve	17,459	11,717
Deferred tax liabilities:
Deferred loan fees	(1,268)	(759)
Other	(32)	(77)
Deferred tax liability	(1,300)	(836)
Net deferred tax asset	$ 16,159	$ 10,881

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Cash paid for income taxes	$ 2,600	$ 2,400	$ 2,000
Chicopee Bancorp Inc [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	3,500
Federal Income Tax [Member]
Operating Loss Carryforwards [Line Items]
Income tax reserve for loan losses at Bank's base year	$ 5,800
Percentage of amount actually used net of reserve subject to taxation	150.00%
Deferred tax liability not recognized	$ 2,400

TRANSACTIONS WITH DIRECTORS 108

TRANSACTIONS WITH DIRECTORS AND EXECUTIVE OFFICERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at beginning of year	$ 1,038	$ 2,881
Principal distributions	554	534
Repayments of principal	(156)	(707)
Change in related party status	39	(1,670)
Balance at end of year	$ 1,475	$ 1,038

COMMITMENTS AND CONTINGENCIE109

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Lines of Credit [Member]
Loss Contingencies [Line Items]
Commitments to extend credit	$ 217,193	$ 120,039
Loans [Member]
Loss Contingencies [Line Items]
Commitments to extend credit	41,285	41,496
Existing Construction Loan Agreements [Member]
Loss Contingencies [Line Items]
Commitments to extend credit	35,702	37,844
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Commitments to extend credit	$ 7,090	$ 3,865

COMMITMENTS AND CONTINGENCIE110

COMMITMENTS AND CONTINGENCIES (Details 1) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 1,172
2,018	1,088
2,019	1,043
2,020	934
2,021	879
Thereafter	8,970
Future minimum rental payments	$ 14,086

COMMITMENTS AND CONTINGENCIE111

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments to extend credit	$ 301,300	$ 203,200
Fixed rate commitments	40,000	35,700
Variable rate commitments	261,300	167,500
Rent expense under operating leases	798	$ 677	$ 707
Small Business Investment Company [Member]
Partners committed capital contrbution	$ 3,000
Risk Participation Agreements [Member]
Contract term	10 years
Risk Participation agreement - fair value	$ 522
Estimated risk participation agreement maximum exposure	$ 310
Risk Participation Agreements Two [Member]
Risk participation agreement term	20 years
Risk Participation agreement - fair value	$ 153
Minimum [Member]
Fixed rate commitments - interest rates	1.99%	2.25%
Maximum [Member]
Fixed rate commitments - interest rates	18.00%	18.00%

CONCENTRATIONS OF CREDIT RISK (

CONCENTRATIONS OF CREDIT RISK (Details Narrative)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Requirement for private mortgage insurance, loan-to-value ratio	80.00%
Residential [Member] | Minimum [Member]
Concentration Risk [Line Items]
Requirement for private mortgage insurance, loan-to-value ratio	80.00%
Residential [Member]
Concentration Risk [Line Items]
Appraised value of property to amount of loan	100.00%
Commercial Loan [Member]
Concentration Risk [Line Items]
Appraised value of property to amount of loan	85.00%
Residential and Commercial Real Estate Loans [Member] | Western Massachusetts [Member]
Concentration Risk [Line Items]
Percentage loans to total loans	85.50%	79.20%

FAIR VALUE OF ASSETS AND LIABLI

FAIR VALUE OF ASSETS AND LIABLITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	$ 3,152	$ 6,064
Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	3,152	6,064
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	300,115	182,590
Interest rate swaps	3,152	6,064
Recurring [Member] | Mutual funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	6,296	6,247
Recurring [Member] | Government-sponsored enterprise obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	42,008	3,951
Recurring [Member] | States and municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	4,008	2,801
Recurring [Member] | Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	50,317	21,136
Recurring [Member] | US Government guaranteed mortgage backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	17,350	10,903
Recurring [Member] | Government-sponsored mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	180,136	135,959
Recurring [Member] | Common and preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common and preferred stock		1,593
Recurring [Member] | Fair Value Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	293,819	174,750
Interest rate swaps	3,152	6,064
Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government-sponsored enterprise obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	42,008	3,951
Recurring [Member] | Fair Value Inputs Level 2 [Member] | States and municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	4,008	2,801
Recurring [Member] | Fair Value Inputs Level 2 [Member] | Corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	50,317	21,136
Recurring [Member] | Fair Value Inputs Level 2 [Member] | US Government guaranteed mortgage backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	17,350	10,903
Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government-sponsored mortgage-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	180,136	135,959
Recurring [Member] | Fair Value - Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	6,296	7,840
Recurring [Member] | Fair Value - Level 1 [Member] | Mutual funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	$ 6,296	6,247
Recurring [Member] | Fair Value - Level 1 [Member] | Common and preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common and preferred stock		$ 1,593

FAIR VALUE OF ASSETS AND LIA114

FAIR VALUE OF ASSETS AND LIABLITIES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	$ 1,525,274	$ 797,596
Fair Value Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	1,525,274	797,596
Nonrecurring [Member] | Fair Value Inputs Level 3 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	2,143	2,111
Gains (Losses) arising from fair value adjustment of assets	$ (230)	$ (224)

FAIR VALUE OF ASSETS AND LIA115

FAIR VALUE OF ASSETS AND LIABLITIES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 70,234	$ 13,703
Securities available for sale	300,115	182,590
Securities held to maturity		237,619
Federal Home Loan Bank of Boston and other restricted stock	16,124	15,074
Loans - net	1,525,274	797,596
Accrued interest receivable	5,782	3,878
Mortgage servicing rights	628
Liabilities:
Deposits	1,521,580	901,400
Short-term borrowings	172,351	128,407
Long-term debt	125,183	155,433
Accrued interest payable	1,012	446
Interest rate swaps	3,152	6,064
Fair Value - Level 1 [Member]
Assets:
Cash and cash equivalents	70,234	13,703
Securities available for sale	6,296	7,840
Fair Value Inputs Level 2 [Member]
Assets:
Securities available for sale	293,819	174,750
Securities held to maturity		237,619
Mortgage servicing rights	628
Liabilities:
Short-term borrowings	172,351	128,407
Long-term debt	125,183	155,433
Interest rate swaps	3,152	6,064
Fair Value Inputs Level 3 [Member]
Assets:
Federal Home Loan Bank of Boston and other restricted stock	16,124	15,074
Loans - net	1,525,274	797,596
Accrued interest receivable	5,782	3,878
Liabilities:
Deposits	1,521,580	901,400
Accrued interest payable	1,012	446
Carrying Value [Member]
Assets:
Cash and cash equivalents	70,234	13,703
Securities available for sale	300,115	182,590
Securities held to maturity		238,219
Federal Home Loan Bank of Boston and other restricted stock	16,124	15,074
Loans - net	1,556,416	809,373
Accrued interest receivable	5,782	3,878
Mortgage servicing rights	465
Liabilities:
Deposits	1,518,071	900,363
Short-term borrowings	172,351	128,407
Long-term debt	124,836	153,358
Accrued interest payable	1,012	446
Interest rate swaps	$ 3,152	$ 6,064

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative)	12 Months Ended
	Dec. 31, 2016Number / N
Segment Reporting [Abstract]
Number of reportable segment	1

CONDENSED PARENT COMPANY FIN117

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS:
Securities available for sale	$ 300,115	$ 182,590
Other assets	4,882	2,418
TOTAL ASSETS	2,076,018	1,339,930
LIABILITIES:
Other liabilities	21,909	18,336
EQUITY	238,396	139,466	$ 142,543	$ 154,144
TOTAL LIABILITIES AND EQUITY	2,076,018	1,339,930
Parent Company [Member]
ASSETS:
Cash equivalents	972	53
Securities available for sale		1,593
Investment in subsidiaries	230,633	131,387
ESOP loan receivable	7,866	8,375
Other assets	7,468	6,683
TOTAL ASSETS	246,939	148,091
LIABILITIES:
ESOP loan payable	7,866	8,375
Other liabilities	677	250
EQUITY	238,396	139,466
TOTAL LIABILITIES AND EQUITY	$ 246,939	$ 148,091

CONDENSED PARENT COMPANY FIN118

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INCOME:
Gain on sales of securities, net									$ 1,139	$ 1,506	$ 320
OPERATING EXPENSE:
Salaries and employee benefits									17,643	15,410	14,709
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES AND INCOME TAXES	$ 2,927	$ 1,051	$ 639	$ 2,786	$ 1,930	$ 2,291	$ 1,809	$ 1,808	7,403	7,839	8,044
INCOME TAX BENEFIT	1,074	423	250	822	529	680	445	470	2,569	2,124	1,882
NET INCOME	$ 1,853	$ 628	$ 389	$ 1,964	$ 1,401	$ 1,611	$ 1,364	$ 1,338	4,834	5,715	6,162
Parent Company [Member]
INCOME:
Dividends from subsidiaries									3,499	6,557	14,712
Interest income from securities									32	20	31
ESOP loan interest income									670	706	741
Gain on sales of securities, net									451
Total income									4,652	7,283	15,484
OPERATING EXPENSE:
Salaries and employee benefits									926	743	697
ESOP interest									670	706	741
Other									507	556	503
Total operating expense									2,103	2,005	1,941
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES AND INCOME TAXES									2,549	5,278	13,543
EQUITY IN UNDISTRIBUTED INCOME (LOSS) OF SUBSIDIARIES									1,955	90	(7,655)
NET INCOME BEFORE TAXES									4,504	5,368	5,888
INCOME TAX BENEFIT									(330)	(347)	(274)
NET INCOME									$ 4,834	$ 5,715	$ 6,162

CONDENSED PARENT COMPANY FIN119

CONDENSED PARENT COMPANY FINANCIAL STATEMENTS (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net income	$ 1,853	$ 628	$ 389	$ 1,964	$ 1,401	$ 1,611	$ 1,364	$ 1,338	$ 4,834	$ 5,715	$ 6,162
Gain on sales of securities, net									(1,139)	(1,506)	(320)
Change in other liabilities									(6,494)	(308)	77
Change in other assets									(1,564)	(56)	(150)
INVESTING ACTIVITIES:
Sales of securities				136,800					136,829	134,437	71,738
FINANCING ACTIVITIES:
Cash dividends paid									(2,439)	(2,098)	(3,832)
Common stock repurchased									(1,378)	(3,906)	(10,518)
Excess tax benefit (shortfall) from share-based compensation									144
Issuance of common stock in connection with stock option Exercises									1,971
NET CHANGE IN CASH AND CASH EQUIVALENTS									56,531	(5,082)	(957)
Parent Company [Member]
OPERATING ACTIVITIES:
Net income									4,834	5,715	6,162
Equity in undistributed (income) loss of subsidiaries									(1,955)	(90)	7,655
Gain on sales of securities, net									(451)
Change in other liabilities									(597)	(409)	(409)
Change in other assets									(271)	(52)	175
Other, net									1,049	713	667
Net cash provided by operating activities									2,609	5,877	14,250
INVESTING ACTIVITIES:
Purchase of securities									(116)	(125)	(235)
Sales of securities									116	125	235
Net cash provided by (used in) investing activities
FINANCING ACTIVITIES:
Cash dividends paid									(2,439)	(2,098)	(3,832)
Common stock repurchased									(1,378)	(3,906)	(10,518)
Tender offer to purchase outstanding options											121
Excess tax benefit (shortfall) from share-based compensation									156	2	(1)
Issuance of common stock in connection with stock option Exercises									1,971
Net cash used in financing activities									(1,690)	(6,002)	(14,230)
NET CHANGE IN CASH AND CASH EQUIVALENTS									919	(125)	20
CASH AND CASH EQUIVALENTS
Beginning of year				$ 53				$ 178	53	178	158
End of year	$ 972				$ 53				972	$ 53	$ 178
Supplemental cashflow information:
Net cash due to broker for common stock repurchased									$ 455

SUMMARY OF QUARTERLY FINANCI120

SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Interest and dividend income	$ 16,106	$ 10,977	$ 10,554	$ 10,961	$ 10,820	$ 10,974	$ 10,494	$ 10,188
Interest expense	3,366	2,649	2,552	2,718	2,667	2,814	2,715	2,598	$ 11,285	$ 10,794	$ 9,923
Total interest and dividend income	12,740	8,328	8,002	8,243	8,153	8,160	7,779	7,590	48,598	42,476	40,991
Provision (credit) for loan losses	175	375	625	(600)	475	150	350	300
Other noninterest income	1,918	1,322	1,262	1,245	1,243	1,163	1,247	1,005
Loss on prepayment of borrowings				(915)		(429)	(278)	(593)
Gain (loss) on sales of securities, net	455	1	(2)	685	(1)	414	276	817
Noninterest expense	12,011	8,225	7,998	7,072	6,990	6,867	6,865	6,711	35,306	27,433	25,909
INCOME BEFORE INCOME TAXES	2,927	1,051	639	2,786	1,930	2,291	1,809	1,808	7,403	7,839	8,044
Income tax provision	1,074	423	250	822	529	680	445	470	2,569	2,124	1,882
Net income	$ 1,853	$ 628	$ 389	$ 1,964	$ 1,401	$ 1,611	$ 1,364	$ 1,338	$ 4,834	$ 5,715	$ 6,162
Basic earnings per share (in dollars per share)	$ 0.07	$ 0.04	$ 0.02	$ 0.11	$ 0.08	$ 0.09	$ 0.08	$ 0.08	$ 0.25	$ 0.33	$ 0.34
Diluted earnings per share (in dollars per share)	$ 0.07	$ 0.04	$ 0.02	$ 0.11	$ 0.08	$ 0.09	$ 0.08	$ 0.08	$ 0.24	$ 0.33	$ 0.34

ACQUISITION OF CHICOPEE BANC121

ACQUISITION OF CHICOPEE BANCORP, INC. (Details) - Chicopee Bancorp Inc [Member] $ in Thousands	Oct. 21, 2016USD ($)
Assets:
Cash and cash equivalents	$ 23,808
Loans receivable, net	640,892
Premises and equipment	7,284
Federal Home Loan Bank stock	4,176
Goodwill	13,747
Core deposit intangible	4,511
Bank-owned life insurance	15,150
Accrued interest receivable	1,440
Deferred tax asset, net	4,688
Other assets	899
Total assets acquired	716,595
Liabilities:
Deposits	545,669
FHLB Advances	63,252
Accrued expense and other liabilities	8,882
Total liabilities assumed	617,803
Net assets acquired	$ 98,792

ACQUISITION OF CHICOPEE BANC122

ACQUISITION OF CHICOPEE BANCORP, INC. (Details 1) - Chicopee Bancorp Inc [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net interest income	$ 55,185	$ 53,487
Net income	$ 10,329	$ 8,717
Earnings per share - Basic (in dollars per share)	$ 0.35	$ 0.3
Earnings per share - Diluted (in dollars per share)	$ 0.35	$ 0.29

ACQUISITION OF CHICOPEE BANC123

ACQUISITION OF CHICOPEE BANCORP, INC. (Details Narrative) - USD ($) $ in Thousands	Oct. 21, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Merger related expenses		$ 4,051
Estimated tax rate		34.00%	34.00%	34.00%
Chicopee Bancorp Inc [Member]
Net assets acquired	$ 98,792
Number of shares issued (in shares)	11,919,412
Merger related expenses	$ 4,100
Loans with evidence of deterioration of credit quality since origination	28,800
Nonaccretable credit discount	8,499
Accretable credit	$ 7,723