Bankwell Financial (BWFG) 10-Q 1 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Bankwell Financial Group, Inc.
Entity Central Index Key	0001505732
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,841,103
Entity Current Reporting Status	Yes
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true

CONSOLIDATED BALANCE SHEETS - (

CONSOLIDATED BALANCE SHEETS - (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and due from banks	$ 83,109	$ 75,411
Federal funds sold	0	2,701
Cash and cash equivalents	83,109	78,112
Investment securities
Marketable equity securities, at fair value	2,120	2,009
Available for sale investment securities, at fair value	86,017	93,154
Held to maturity investment securities, at amortized cost (fair values of $19,758 and $21,988 at September 30, 2019 and December 31, 2018, respectively)	17,365	21,421
Total investment securities	105,502	116,584
Loans receivable (net of allowance for loan losses of $13,212 at September 30, 2019 and $15,462 at December 31, 2018)	1,548,988	1,586,775
Accrued interest receivable	5,916	6,375
Federal Home Loan Bank stock, at cost	7,475	8,110
Premises and equipment, net	28,892	19,771
Bank-owned life insurance	41,433	40,675
Goodwill	2,589	2,589
Other intangible assets	232	290
Deferred income taxes, net	6,591	4,347
Other assets	27,815	10,037
Total assets	1,858,542	1,873,665
Deposits
Noninterest bearing deposits	178,733	173,198
Interest bearing deposits	1,291,551	1,329,046
Total deposits	1,470,284	1,502,244
Advances from the Federal Home Loan Bank	150,000	160,000
Subordinated debentures ($25,500 face, less unamortized debt issuance costs of $306 and $345 at September 30, 2019 and December 31, 2018, respectively)	25,194	25,155
Accrued expenses and other liabilities	37,052	12,070
Total liabilities	1,682,530	1,699,469
Commitments and contingencies
Shareholders' equity
Common stock, no par value; 10,000,000 shares authorized, 7,841,103 and 7,842,271 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	120,343	120,527
Retained earnings	66,870	54,706
Accumulated other comprehensive loss	(11,201)	(1,037)
Total shareholders' equity	176,012	174,196
Total liabilities and shareholders' equity	$ 1,858,542	$ 1,873,665

CONSOLIDATED BALANCE SHEETS -_2

CONSOLIDATED BALANCE SHEETS - (UNAUDITED) (Parentheticals) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Held to maturity investment securities, fair value	$ 19,758,000	$ 21,988,000
Allowance for loan losses	$ 13,212,000	$ 15,462,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (shares)	10,000,000	10,000,000
Common stock, shares issued (shares)	7,841,103	7,842,271
Common stock, shares outstanding (shares)	7,841,103	7,842,271
Subordinated debentures
Debt instrument face value of debt	$ 25,500,000	$ 25,500,000
Unamortized debt issuance costs	$ 306,000	$ 345,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest and dividend income
Interest and fees on loans	$ 19,055	$ 19,153	$ 58,691	$ 54,685
Interest and dividends on securities	903	1,002	2,892	2,912
Interest on cash and cash equivalents	535	345	1,432	924
Total interest and dividend income	20,493	20,500	63,015	58,521
Interest expense
Interest expense on deposits	6,331	5,044	18,750	13,009
Interest expense on borrowings	1,151	1,210	3,386	3,653
Total interest expense	7,482	6,254	22,136	16,662
Net interest income	13,011	14,246	40,879	41,859
Provision for loan losses	773	322	127	645
Net interest income after provision for loan losses	12,238	13,924	40,752	41,214
Noninterest income
Gains and fees from sales of loans	703	150	1,409	835
Bank owned life insurance	255	267	758	795
Net gain on sale of available for sale securities	0	0	76	222
Loss on sale of other real estate owned, net	(102)	0	(102)	0
Other	432	157	1,279	641
Total noninterest income	1,552	859	4,196	3,299
Noninterest expense
Salaries and employee benefits	4,881	4,903	14,272	14,470
Occupancy and equipment	1,946	1,771	5,666	5,119
Data processing	505	512	1,568	1,546
Professional services	346	321	1,455	1,520
Director fees	235	260	639	749
Marketing	210	395	751	1,171
Amortization of intangibles	19	24	57	72
FDIC insurance	(125)	203	74	620
Other	655	481	1,920	1,570
Total noninterest expense	8,672	8,870	26,402	26,837
Income before income tax expense	5,118	5,913	18,546	17,676
Income tax expense	1,030	1,056	3,802	3,504
Net income	$ 4,088	$ 4,857	$ 14,744	$ 14,172
Earnings Per Common Share:
Basic (in dollars per share)	$ 0.52	$ 0.62	$ 1.88	$ 1.81
Diluted (in dollars per share)	$ 0.52	$ 0.62	$ 1.87	$ 1.80
Weighted Average Common Shares Outstanding:
Basic (in shares)	7,750,490	7,738,343	7,761,441	7,712,924
Diluted (in shares)	7,766,485	7,763,935	7,788,839	7,758,762
Dividends per common share (in dollars per share)	$ 0.13	$ 0.12	$ 0.39	$ 0.36
Service charges and fees
Noninterest income
Contract revenue	$ 264	$ 285	$ 776	$ 806

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 4,088	$ 4,857	$ 14,744	$ 14,172
Unrealized gains (losses) on securities:
Unrealized holding gains (losses) on available for sale securities	353	(643)	3,022	(2,762)
Reclassification adjustment for gain realized in net income	0	0	(76)	(222)
Net change in unrealized gains (losses)	353	(643)	2,946	(2,984)
Income tax (expense) benefit	(74)	135	(618)	627
Unrealized gains (losses) on securities, net of tax	279	(508)	2,328	(2,357)
Unrealized (losses) gains on interest rate swaps:
Unrealized (losses) gains on interest rate swaps	(5,766)	1,784	(15,811)	3,599
Income tax benefit (expense)	1,211	(375)	3,319	(756)
Unrealized (losses) gains on interest rate swaps, net of tax	(4,555)	1,409	(12,492)	2,843
Total other comprehensive (loss) income, net of tax	(4,276)	901	(10,164)	486
Comprehensive (loss) income	$ (188)	$ 5,758	$ 4,580	$ 14,658

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2017		7,751,424
Beginning balance at Dec. 31, 2017	$ 161,027	$ 118,301	$ 41,032	$ 1,694
Increase (Decrease) in Stockholders' Equity
Net income	14,172		14,172
Other comprehensive (loss) income, net of tax	486			486
Cash dividends declared	(2,818)		(2,818)
Stock-based compensation expense	964	$ 964
Forfeitures of restricted stock (in shares)		(1,498)
Issuance of restricted stock (in shares)		43,550
Stock options exercised (in shares)		27,120
Stock options exercised	523	$ 523
Warrants exercised (in shares)		22,400
Warrants exercised	400	$ 400
Ending balance (in shares) at Sep. 30, 2018		7,842,996
Ending balance at Sep. 30, 2018	174,754	$ 120,188	52,386	2,180
Beginning balance (in shares) at Dec. 31, 2017		7,751,424
Beginning balance at Dec. 31, 2017	$ 161,027	$ 118,301	41,032	1,694
Increase (Decrease) in Stockholders' Equity
Repurchase of common stock (in shares)	0
Ending balance (in shares) at Dec. 31, 2018		7,842,271
Ending balance at Dec. 31, 2018	$ 174,196	$ 120,527	54,706	(1,037)
Beginning balance (in shares) at Jun. 30, 2018		7,841,720
Beginning balance at Jun. 30, 2018	169,573	$ 119,824	48,470	1,279
Increase (Decrease) in Stockholders' Equity
Net income	4,857		4,857
Other comprehensive (loss) income, net of tax	901			901
Cash dividends declared	(941)		(941)
Stock-based compensation expense	331	$ 331
Forfeitures of restricted stock (in shares)		(824)
Stock options exercised (in shares)		2,100
Stock options exercised	33	$ 33
Ending balance (in shares) at Sep. 30, 2018		7,842,996
Ending balance at Sep. 30, 2018	174,754	$ 120,188	52,386	2,180
Beginning balance (in shares) at Dec. 31, 2018		7,842,271
Beginning balance at Dec. 31, 2018	174,196	$ 120,527	54,706	(1,037)
Increase (Decrease) in Stockholders' Equity
Net income	14,744		14,744
Other comprehensive (loss) income, net of tax	(10,164)			(10,164)
Cash dividends declared	(3,061)		(3,061)
Stock-based compensation expense	774	$ 774
Forfeitures of restricted stock (in shares)		(3,800)
Issuance of restricted stock (in shares)		34,450
Stock options exercised (in shares)		2,350
Stock options exercised	$ 30	$ 30
Repurchase of common stock (in shares)	(34,168)
Ending balance (in shares) at Sep. 30, 2019		7,841,103
Ending balance at Sep. 30, 2019	$ 176,012	$ 120,343	66,870	(11,201)
Beginning balance (in shares) at Jun. 30, 2019		7,841,103
Beginning balance at Jun. 30, 2019	176,940	$ 120,064	63,801	(6,925)
Increase (Decrease) in Stockholders' Equity
Net income	4,088		4,088
Other comprehensive (loss) income, net of tax	(4,276)			(4,276)
Cash dividends declared	(1,019)		(1,019)
Stock-based compensation expense	279	$ 279
Repurchase of common stock (in shares)		(34,168)
Repurchase of common stock	(988)	$ (988)
Ending balance (in shares) at Sep. 30, 2019		7,841,103
Ending balance at Sep. 30, 2019	$ 176,012	$ 120,343	$ 66,870	$ (11,201)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - (UNAUDITED) (Parentheticals) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.13	$ 0.12	$ 0.39	$ 0.36

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 14,744	$ 14,172
Adjustments to reconcile net income to net cash provided by operating activities:
Net accretion of premiums and discounts on investment securities	(375)	(38)
Provision for loan losses	127	645
Provision for deferred income taxes	330	192
Net gain on sales of available for sale securities	(76)	(222)
Change in fair value of marketable equity securities	(77)	0
Depreciation and amortization	2,534	1,259
Amortization of debt issuance costs	39	39
Increase in cash surrender value of bank-owned life insurance	(758)	(795)
Gains and fees from sales of loans	(1,409)	(835)
Stock-based compensation	774	964
Net (accretion) amortization of purchase accounting adjustments	(58)	259
Loss on sale of premises and equipment	10	44
Loss on sale of other real estate owned, net	102	0
Net change in:
Deferred loan fees	(362)	(391)
Accrued interest receivable	459	(145)
Other assets	(33,475)	1,028
Accrued expenses and other liabilities	14,398	(1,101)
Net cash (used in) provided by operating activities	(3,073)	15,075
Cash flows from investing activities
Proceeds from principal repayments on available for sale securities	7,337	7,015
Proceeds from principal repayments on held to maturity securities	168	132
Net proceeds from sales and calls of available for sale securities	15,455	12,377
Net proceeds from calls of held to maturity securities	3,900	0
Purchases of marketable equity securities	(34)	0
Purchases of available for sale securities	(12,270)	(24,382)
Net decrease (increase) in loans	36,807	(65,172)
Loan principal sold from loans not originated for sale	(21,664)	(7,208)
Proceeds from sales of loans not originated for sale	23,073	8,043
Purchases of premises and equipment, net	(473)	(3,353)
Reduction (purchase) of Federal Home Loan Bank stock	635
Reduction (purchase) of Federal Home Loan Bank stock		(27)
Proceeds from the sale of other real estate owned	1,115	0
Net cash provided by (used in) investing activities	54,049	(72,575)
Cash flows from financing activities
Net change in time certificates of deposit	28,704	11,176
Net change in other deposits	(60,664)	83,589
Net change in FHLB advances	(10,000)	(19,000)
Proceeds from exercise of warrants	0	400
Proceeds from exercise of options	30	523
Dividends paid on common stock	(3,061)	(2,818)
Repurchase of common stock	(988)	0
Net cash (used in) provided by financing activities	(45,979)	73,870
Net increase in cash and cash equivalents	4,997	16,370
Cash and cash equivalents:
Beginning of year	78,112	70,731
End of period	83,109	87,101
Cash paid for:
Interest	21,940	16,855
Income taxes	2,118	3,065
Noncash investing and financing activities:
Loans transferred to other real estate owned	1,217	0
Net change in unrealized gains or losses on available for sale securities	2,946	(2,984)
Net change in unrealized gains or losses on interest rate swaps	(15,811)	3,599
Establishment of right-of-use asset and lease liability	$ 11,192	$ 0

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Bankwell Financial Group, Inc. (the “Company” or “Bankwell”) is a bank holding company headquartered in New Canaan, Connecticut. The Company offers a broad range of financial services through its banking subsidiary, Bankwell Bank (the “Bank”). The Bank is a Connecticut state chartered commercial bank, founded in 2002, whose deposits are insured under the Deposit Insurance Fund administered by the Federal Deposit Insurance Corporation (“FDIC”). The Bank provides a full range of banking services to commercial and consumer customers, primarily concentrated in the New York metropolitan area and throughout Connecticut, with the majority of the Company's loans in Fairfield and New Haven Counties, Connecticut, with branch locations in New Canaan, Stamford, Fairfield, Wilton, Westport, Darien, Norwalk, Hamden and North Haven Connecticut. Principles of consolidation The consolidated financial statements include the accounts of the Company and the Bank, including its wholly owned passive investment company subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the consolidated balance sheet, and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, the valuation of derivative instruments, investment securities and deferred income taxes, and the evaluation of investment securities for other than temporary impairment. Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2019 . The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2018 . Significant concentrations of credit risk Most of the Company’s activities are with customers located in the New York metropolitan area and throughout Fairfield and New Haven Counties and the surrounding region of Connecticut. Declines in property values in these areas could significantly impact the Company. The Company has a significant concentration in commercial real estate loans. Management does not believe this presents any special risk as loans are subject to an appropriate credit risk monitoring process. The Company does not have any significant concentrations in any one industry or customer. Common Share Repurchases The Company is incorporated in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized, but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances. Reclassification Certain prior period amounts have been reclassified to conform to the 2019 financial statement presentation. These reclassifications only changed the reporting categories and did not affect the consolidated results of operations or consolidated financial position of the Company. Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. Recently issued accounting pronouncements not yet adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” This ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held to maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available for sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. This update will be effective for the Company on January 1, 2020, including interim periods within that fiscal year. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently working with third-party consultants and continues to evaluate the impact of its pending adoption of this guidance on the Company's financial statements. On July 17, 2019, the FASB proposed deferring the effective date of ASC 326 for smaller reporting companies as defined by the SEC. The FASB has proposed a three-year deferral for smaller reporting companies, with an effective date of January 1, 2023. On October 16, 2019, the FASB voted in favor of finalizing its proposal to defer the effective date of this standard. Subject to any additional guidance or clarification from the FASB or the SEC, management believes the Company will qualify for this proposed deferral. ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This ASU simplifies the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity was required to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, this ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments will be effective for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. On October 16, 2019, the FASB voted in favor of a proposal to defer the effective date of this standard in the same manner it is deferring the effective date of ASC 326. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. ASU No. 2018-13, Fair Value Measurement (Topic 820) : “Changes to the Disclosure Requirements for Fair Value Measurement.” The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The following disclosure requirements were removed from topic 820 for public entities: (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels and (3) the valuation processes for Level 3 fair value measurements. This update also modified and added disclosure requirements to Topic 820, including adding (1) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods in the year of adoption. Early adoption is permitted for any interim or annual period. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. Recently adopted accounting pronouncements ASU No. 2016-02, Leases (Topic 842): The amendments in this ASU require lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by operating leases. Accounting by lessors will remain largely unchanged. In July 2018, the FASB issued a subsequent update which introduced a new transition method, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The guidance was effective for the Company on January 1, 2019. The Company recognized $0.5 million , net of tax, as a cumulative-effect adjustment to the opening balance of retained earnings at the time of adoption on January 1, 2019. In addition, the Company recorded a right of use asset totaling $10.6 million and a lease liability totaling $10.6 million on the balance sheet for the Company's outstanding lease obligations on January 1, 2019. The Company utilized a 6% discount rate to calculate the present value of the right of use asset and lease liability on January 1, 2019. The right of use asset is disclosed within premises and equipment, net on the balance sheet and the lease liability is disclosed within accrued expenses and other liabilities on the balance sheet.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at September 30, 2019 were as follows: September 30, 2019 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 2,100 $ — $ (4 ) $ 2,096 Due from one through five years 10,944 78 (5 ) 11,017 Due from five through ten years 8,354 385 (1 ) 8,738 Due after ten years 63,418 748 — 64,166 Total available for sale securities $ 84,816 $ 1,211 $ (10 ) $ 86,017 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,284 $ 2,388 $ — $ 18,672 Corporate bonds Less than one year 1,000 — (4 ) 996 Government-sponsored mortgage backed securities No contractual maturity 81 9 — 90 Total held to maturity securities $ 17,365 $ 2,397 $ (4 ) $ 19,758 The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at December 31, 2018 were as follows: December 31, 2018 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 1,000 $ — $ (11 ) $ 989 Due from one through five years 12,025 — (161 ) 11,864 Due from five through ten years 100 — (5 ) 95 Due after ten years 70,690 7 (1,509 ) 69,188 83,815 7 (1,686 ) 82,136 State agency and municipal obligations Due from one through five years 2,234 18 — 2,252 Due from five through ten years 1,261 18 — 1,279 Due after ten years 528 — (52 ) 476 4,023 36 (52 ) 4,007 Corporate bonds Due from one through five years 7,061 — (50 ) 7,011 Total available for sale securities $ 94,899 $ 43 $ (1,788 ) $ 93,154 Held to maturity securities: State agency and municipal obligations Less than one year $ 3,894 $ 6 $ — $ 3,900 Due after ten years 16,434 669 (113 ) 16,990 20,328 675 (113 ) 20,890 Corporate bonds Less than one year 1,000 — — 1,000 Government-sponsored mortgage backed securities No contractual maturity 93 5 — 98 Total held to maturity securities $ 21,421 $ 680 $ (113 ) $ 21,988 The gross realized gains on the sales of investment securities totaled $0.1 million for the nine months ended September 30, 2019 . The gross realized losses on the sales of investment securities totaled $17.0 thousand for the nine months ended September 30, 2019 . Total sales proceeds and calls of available for sale securities were $15.5 million for the nine months ended September 30, 2019 . There were no sales of investment securities during the three months ended September 30, 2019 . The gross realized gains on the sales of investment securities totaled $0.2 million for the nine months ended September 30, 2018 . The gross realized losses on the sales of investment securities totaled $2.0 thousand for the nine months ended September 30, 2018 . Total sales proceeds and calls of available for sale securities were $12.4 million for the nine months ended September 30, 2018 . There were no sales of investment securities during the three months ended September 30, 2018 . At September 30, 2019 and December 31, 2018 , none of the Company's securities were pledged as collateral with the Federal Home Loan Bank ("FHLB") or any other institution. As of September 30, 2019 and December 31, 2018 , the actual duration of the Company's available for sale securities were significantly shorter than the notional maturities. At September 30, 2019 , the Company held marketable equity securities with a fair value of $2.1 million and an amortized cost of $2.0 million . At December 31, 2018 , the Company held marketable equity securities with a fair value and amortized cost of $2.0 million . These securities represent an investment in mutual funds that have a primary objective to make investments for CRA purposes. The following table provides information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018 : Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Percent Decline from Amortized Cost Fair Value Unrealized Loss Percent Decline from Amortized Cost Fair Value Unrealized Loss Percent Decline from Amortized Cost (Dollars in thousands) September 30, 2019 U.S. Government and agency obligations $ 99 $ (1 ) 0.41 % $ 3,090 $ (9 ) 0.31 % $ 3,189 $ (10 ) 0.31 % Corporate bonds 996 (4 ) 0.38 % — — — % 996 (4 ) 0.38 % Total investment securities $ 1,095 $ (5 ) 0.38 % $ 3,090 $ (9 ) 0.31 % $ 4,185 $ (14 ) 0.32 % December 31, 2018 U.S. Government and agency obligations $ 4,990 $ (38 ) 0.75 % $ 72,676 $ (1,648 ) 2.22 % $ 77,666 $ (1,686 ) 2.12 % State agency and municipal obligations 8,212 (113 ) 1.36 % 476 (52 ) 9.87 % 8,688 (165 ) 1.87 % Corporate bonds 2,033 (11 ) 0.51 % 4,978 (39 ) 0.78 % 7,011 (50 ) 0.70 % Total investment securities $ 15,235 $ (162 ) 1.05 % $ 78,130 $ (1,739 ) 2.18 % $ 93,365 $ (1,901 ) 2.00 % There were six and twenty-five investment securities as of September 30, 2019 and December 31, 2018 , respectively, in which the fair value of the security was less than the amortized cost of the security. The U.S. Government and agency obligations owned are either direct obligations of the U.S. Government or guaranteed by the U.S. Government, therefore the contractual cash flows are guaranteed and as a result the unrealized losses in this portfolio are not considered other than temporarily impaired. The Company continually monitors its corporate bond portfolio and at this time this portfolio has minimal default risk because the corporate bond in this portfolio is rated investment grade. At September 30, 2019 , the Company has the intent and ability to retain its investment securities in an unrealized loss position until the decline in value has recovered or the security has matured.

Loans Receivable and Allowance

Loans Receivable and Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Loans Receivable and Allowance for Loan Losses	Loans Receivable and Allowance for Loan Losses The following table sets forth a summary of the loan portfolio at September 30, 2019 and December 31, 2018 : (In thousands) September 30, 2019 December 31, 2018 Real estate loans: Residential $ 159,193 $ 178,079 Commercial 1,096,856 1,094,066 Construction 89,878 73,191 1,345,927 1,345,336 Commercial business 218,145 258,978 Consumer 260 412 Total loans 1,564,332 1,604,726 Allowance for loan losses (13,212 ) (15,462 ) Deferred loan origination fees, net (2,135 ) (2,497 ) Unamortized loan premiums 3 8 Loans receivable, net $ 1,548,988 $ 1,586,775 Lending activities are conducted principally in the New York metropolitan area and throughout Connecticut, with the majority in Fairfield and New Haven Counties of Connecticut, and consist of commercial real estate loans, commercial business loans and, to a lesser degree, a variety of consumer loans. Loans may also be granted for the construction of commercial properties. The majority of commercial mortgage loans are collateralized by first or second mortgages on real estate. Risk management The Company has established credit policies applicable to each type of lending activity in which it engages. The Company evaluates the creditworthiness of each customer and extends credit of up to 80% of the market value of the collateral, depending on the borrower's creditworthiness and the type of collateral. The borrower’s ability to service the debt is monitored on an ongoing basis. Real estate is the primary form of collateral. Other important forms of collateral are business assets, time deposits and marketable securities. While collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment for commercial loans to be based on the borrower’s ability to generate continuing cash flows. In the fourth quarter of 2017, management made the strategic decision to cease the origination of residential mortgage loans. At the beginning of the third quarter 2019, the Company no longer offered home equity loans or lines of credit. The Company’s policy for residential lending generally required that the amount of the loan may not exceed 80% of the original appraised value of the property. In certain situations, the amount may have exceeded 80% LTV either with private mortgage insurance being required for that portion of the residential loan in excess of 80% of the appraised value of the property or where secondary financing is provided by a housing authority program second mortgage, a community’s low/moderate income housing program, or a religious or civic organization. Credit quality of loans and the allowance for loan losses Management segregates the loan portfolio into defined segments, which are used to develop and document a systematic method for determining the Company's allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. The Company's loan portfolio is segregated into the following portfolio segments: Residential Real Estate: This portfolio segment consists of first mortgage loans secured by one-to-four family owner occupied residential properties for personal use located in the Company's market area. This segment also includes home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties. Loans of this type were written at a combined maximum of 80% of the appraised value of the property and the Company requires a first or second lien position on the property. These loans can be affected by economic conditions and the values of the underlying properties. Commercial Real Estate: This portfolio segment includes loans secured by commercial real estate, multi-family dwellings and investor-owned one-to-four family dwellings. Loans secured by commercial real estate generally have larger loan balances and more credit risk than owner occupied one-to-four family mortgage loans. Construction: This portfolio segment includes commercial construction loans for commercial development projects, including condominiums, apartment buildings, and single family subdivisions as well as office buildings, retail and other income producing properties and land loans, which are loans made with land as collateral. Construction and land development financing generally involves greater credit risk than long-term financing on improved, owner-occupied or leased real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the value of the property at completion of construction compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction cost proves to be inaccurate, the Company may be required to advance additional funds beyond the amount originally committed in order to protect the value of the property. Moreover, if the estimated value of the completed project proves to be inaccurate, the borrower may hold a property with a value that is insufficient to assure full repayment through sale or refinance. Construction loans also expose the Company to the risks that improvements will not be completed on time in accordance with specifications and projected costs and that repayment will depend on the successful operation or sale of the properties, which may cause some borrowers to be unable to continue paying debt service, which exposes the Company to greater risk of non-payment and loss. Commercial Business: This portfolio segment includes commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners. Commercial business loans generally have higher interest rates and shorter terms than other loans, but they also have increased difficulty of loan monitoring and a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business. Consumer: This portfolio segment includes loans secured by savings or certificate accounts, automobiles, as well as unsecured personal loans and overdraft lines of credit. This type of loan entails greater risk than residential mortgage loans, particularly in the case of loans that are unsecured or secured by assets that depreciate rapidly. Allowance for loan losses The following tables set forth the activity in the Company’s allowance for loan losses for the three and nine months ended September 30, 2019 and 2018 , by portfolio segment: Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended September 30, 2019 Beginning balance $ 923 $ 9,910 $ 259 $ 2,797 $ 1 $ 13,890 Charge-offs (78 ) (594 ) — (748 ) (57 ) (1,477 ) Recoveries — — — 2 24 26 (Credit) Provisions (54 ) 778 2 14 33 773 Ending balance $ 791 $ 10,094 $ 261 $ 2,065 $ 1 $ 13,212 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended September 30, 2018 Beginning balance $ 750 $ 14,185 $ 481 $ 3,589 $ 1 $ 19,006 Charge-offs (16 ) — — — (2 ) (18 ) Recoveries — — — — 1 1 Provisions (Credits) 349 (114 ) (122 ) 208 1 322 Ending balance $ 1,083 $ 14,071 $ 359 $ 3,797 $ 1 $ 19,311 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Nine Months Ended September 30, 2019 Beginning balance $ 857 $ 11,562 $ 140 $ 2,902 $ 1 $ 15,462 Charge-offs (875 ) (594 ) — (884 ) (70 ) (2,423 ) Recoveries — — — 18 28 46 Provisions (Credit) 809 (874 ) 121 29 42 127 Ending balance $ 791 $ 10,094 $ 261 $ 2,065 $ 1 $ 13,212 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Nine Months Ended September 30, 2018 Beginning balance $ 1,721 $ 12,777 $ 907 $ 3,498 $ 1 $ 18,904 Charge-offs (72 ) (18 ) — (96 ) (62 ) (248 ) Recoveries — — — 4 6 10 (Credits) Provisions (566 ) 1,312 (548 ) 391 56 645 Ending balance $ 1,083 $ 14,071 $ 359 $ 3,797 $ 1 $ 19,311 Loans evaluated for impairment and the related allowance for loan losses as of September 30, 2019 and December 31, 2018 were as follows: Portfolio Allowance (In thousands) September 30, 2019 Loans individually evaluated for impairment: Residential real estate $ 4,056 $ — Commercial real estate 6,062 109 Commercial business 3,542 144 Subtotal 13,660 253 Loans collectively evaluated for impairment: Residential real estate 155,137 791 Commercial real estate 1,090,794 9,985 Construction 89,878 261 Commercial business 214,603 1,921 Consumer 260 1 Subtotal 1,550,672 12,959 Total $ 1,564,332 $ 13,212 Portfolio Allowance (In thousands) December 31, 2018 Loans individually evaluated for impairment: Residential real estate $ 6,534 $ 233 Commercial real estate 6,383 — Commercial business 6,155 133 Consumer 3 — Subtotal 19,075 366 Loans collectively evaluated for impairment: Residential real estate 171,545 624 Commercial real estate 1,087,683 11,562 Construction 73,191 140 Commercial business 252,823 2,769 Consumer 409 1 Subtotal 1,585,651 15,096 Total $ 1,604,726 $ 15,462 Credit quality indicators To measure credit risk for the loan portfolios, the Company employs a credit risk rating system. This risk rating represents an assessed level of a loan’s risk based on the character and creditworthiness of the borrower/guarantor, the capacity of the borrower to adequately service the debt, any credit enhancements or additional sources of repayment, and the quality, value and coverage of the collateral, if any. The objectives of the Company’s risk rating system are to provide the Board of Directors and senior management with an objective assessment of the overall quality of the loan portfolio, to promptly and accurately identify loans with well-defined credit weaknesses so that timely action can be taken to minimize a potential credit loss, to identify relevant trends affecting the collectability of the loan portfolio, to isolate potential problem areas and to provide essential information for determining the adequacy of the allowance for loan losses. The Company’s credit risk rating system has nine grades, with each grade corresponding to a progressively greater risk of default. Risk ratings of (1) through (5) are "pass" categories and risk ratings of (6) through (9) are criticized asset categories as defined by the regulatory agencies. A “special mention” (6) credit has a potential weakness which, if uncorrected, may result in a deterioration of the repayment prospects or inadequately protect the Company’s credit position at some time in the future. “Substandard” (7) loans are credits that have a well-defined weakness or weaknesses that jeopardize the full repayment of the debt. An asset rated “doubtful” (8) has all the weaknesses inherent in a substandard asset and which, in addition, make collection or liquidation in full highly questionable and improbable when considering existing facts, conditions, and values. Loans classified as “loss” (9) are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value; rather, it is not practical or desirable to defer writing-off this asset even though partial recovery may be made in the future. Risk ratings are assigned as necessary to differentiate risk within the portfolio. They are reviewed on an ongoing basis through the annual loan review process performed by Company personnel, normal renewal activity and the quarterly watchlist and watched asset report process. They are revised to reflect changes in the borrower's financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage, as well as other considerations. In addition to internal review at multiple points, outsourced loan review opines on risk ratings with regard to the sample of loans their review covers. The following tables present credit risk ratings by loan segment as of September 30, 2019 and December 31, 2018 : Commercial Credit Quality Indicators September 30, 2019 December 31, 2018 Commercial Real Estate Construction Commercial Business Total Commercial Real Estate Construction Commercial Business Total (In thousands) Pass $ 1,072,187 $ 89,878 $ 189,416 $ 1,351,481 $ 1,084,695 $ 73,191 $ 237,933 $ 1,395,819 Special Mention 18,607 — 25,187 43,794 2,988 — 14,890 17,878 Substandard 6,062 — 918 6,980 2,516 — 2,592 5,108 Doubtful — — 2,624 2,624 3,867 — 3,563 7,430 Loss — — — — — — — — Total loans $ 1,096,856 $ 89,878 $ 218,145 $ 1,404,879 $ 1,094,066 $ 73,191 $ 258,978 $ 1,426,235 Residential and Consumer Credit Quality Indicators September 30, 2019 December 31, 2018 Residential Real Estate Consumer Total Residential Real Estate Consumer Total (In thousands) Pass $ 155,007 $ 260 $ 155,267 $ 171,415 $ 409 $ 171,824 Special Mention 130 — 130 130 — 130 Substandard 3,868 — 3,868 6,534 3 6,537 Doubtful 188 — 188 — — — Loss — — — — — — Total loans $ 159,193 $ 260 $ 159,453 $ 178,079 $ 412 $ 178,491 Loan portfolio aging analysis When a loan is 15 days past due, the Company sends the borrower a late notice. The Company also attempts to contact the borrower by phone if the delinquency is not corrected promptly after the notice has been sent. When the loan is 30 days past due, the Company mails the borrower a letter reminding the borrower of the delinquency, and attempts to contact the borrower personally to determine the reason for the delinquency and ensure the borrower understands the terms of the loan. If necessary, on the subsequent 90th day of delinquency, the Company may take other appropriate legal action. A summary report of all loans 30 days or more past due is provided to the Board of Directors of the Company periodically. Loans greater than 90 days past due are generally put on nonaccrual status. A nonaccrual loan is restored to accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt. A loan is considered to be no longer delinquent when timely payments are made for a period of at least six months (one year for loans providing for quarterly or semi-annual payments) by the borrower in accordance with the contractual terms. The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of September 30, 2019 and December 31, 2018 : September 30, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 1,070 $ 150 $ 281 $ 1,501 $ 157,692 $ 159,193 Commercial real estate 494 8,530 2,152 11,176 1,085,680 1,096,856 Construction 1,358 — — 1,358 88,520 89,878 Commercial business 158 373 2,601 3,132 215,013 218,145 Consumer — — — — 260 260 Total loans $ 3,080 $ 9,053 $ 5,034 $ 17,167 $ 1,547,165 $ 1,564,332 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 994 $ — $ 2,203 $ 3,197 $ 174,882 $ 178,079 Commercial real estate 668 133 4,386 5,187 1,088,879 1,094,066 Construction — — — — 73,191 73,191 Commercial business — 1 4,076 4,077 254,901 258,978 Consumer — — — — 412 412 Total loans $ 1,662 $ 134 $ 10,665 $ 12,461 $ 1,592,265 $ 1,604,726 There were no loans delinquent greater than 90 days and still accruing interest as of September 30, 2019 and December 31, 2018 . Loans on nonaccrual status The following is a summary of nonaccrual loans by portfolio segment as of September 30, 2019 and December 31, 2018 : September 30, 2019 December 31, 2018 (In thousands) Residential real estate $ 1,583 $ 3,812 Commercial real estate 5,332 5,950 Commercial business 2,963 4,320 Total $ 9,878 $ 14,082 Interest income on loans that would have been recognized if loans on nonaccrual status had been current in accordance with their original terms for the nine months ended September 30, 2019 and 2018 was $0.5 million and $0.6 million , respectively. There was $44 thousand of interest income recognized on these loans for the nine months ended September 30, 2019 and $90 thousand of interest income was recognized on these loans for the nine months ended September 30, 2018. At September 30, 2019 and December 31, 2018 , there were no commitments to lend additional funds to any borrower on nonaccrual status. Nonaccrual loans with no specific reserve totaled $7.0 million and $11.5 million at September 30, 2019 and December 31, 2018 , respectively. Impaired loans An impaired loan is generally one for which it is probable, based on current information, that the Company will not collect all the amounts due in accordance with the contractual terms of the loan. Impaired loans are individually evaluated for impairment. When the Company classifies a problem loan as impaired, it evaluates whether a specific valuation allowance is required for that portion of the asset that is estimated to be impaired. The following table summarizes impaired loans by portfolio segment as of September 30, 2019 and December 31, 2018 : Carrying Amount Unpaid Principal Balance Associated Allowance September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,056 $ 4,520 $ 4,169 $ 4,613 $ — $ — Commercial real estate 5,308 6,383 5,562 12,191 — — Commercial business 1,228 5,212 1,812 6,051 — — Consumer — 3 — 3 — — Total impaired loans without a valuation allowance 10,592 16,118 11,543 22,858 — — Impaired loans with a valuation allowance: Residential real estate $ — $ 2,014 $ — $ 2,054 $ — $ 233 Commercial real estate 754 — 763 — 109 — Commercial business 2,314 943 2,926 945 144 133 Total impaired loans with a valuation allowance 3,068 2,957 3,689 2,999 253 366 Total impaired loans $ 13,660 $ 19,075 $ 15,232 $ 25,857 $ 253 $ 366 The following table summarizes the average carrying amount of impaired loans and interest income recognized on impaired loans by portfolio segment for the three and nine months ended September 30, 2019 and 2018 : Average Carrying Amount Interest Income Recognized Three Months Ended September 30, Three Months Ended September 30, 2019 2018 2019 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,076 $ 4,932 $ 31 $ 24 Commercial real estate 5,357 9,530 39 79 Commercial business 1,253 1,961 7 77 Consumer — 4 — — Total impaired loans without a valuation allowance 10,686 16,427 77 180 Impaired loans with a valuation allowance: Residential real estate $ — $ 2,237 $ — $ — Commercial real estate 766 11,033 3 16 Commercial business 2,323 4,536 1 3 Total impaired loans with a valuation allowance 3,089 17,806 4 19 Total impaired loans $ 13,775 $ 34,233 $ 81 $ 199 Average Carrying Amount Interest Income Recognized Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,112 $ 5,101 $ 92 $ 87 Commercial real estate 4,701 9,638 155 159 Commercial business 1,368 2,028 19 231 Consumer — 4 — — Total impaired loans without a valuation allowance 10,181 16,771 266 477 Impaired loans with a valuation allowance: Residential real estate $ — $ 2,250 $ — $ 14 Commercial real estate 778 11,047 5 69 Commercial business 2,738 3,283 8 27 Total impaired loans with a valuation allowance 3,516 16,580 13 110 Total impaired loans $ 13,697 $ 33,351 $ 279 $ 587 Troubled debt restructurings ("TDRs") Modifications to a loan are considered to be a troubled debt restructuring when both of the following conditions are met: 1) the borrower is experiencing financial difficulties and 2) the modification constitutes a concession that is not in line with market rates and/or terms. Modified terms are dependent upon the financial position and needs of the individual borrower. Troubled debt restructurings are classified as impaired loans. If a performing loan is restructured into a TDR, it remains in performing status. If a nonperforming loan is restructured into a TDR, it continues to be carried in nonaccrual status. Nonaccrual classification may be removed if the borrower demonstrates compliance with the modified terms for a minimum of six months. Loans classified as TDRs totaled $4.4 million at September 30, 2019 and $7.2 million at December 31, 2018 . The following table provides information on loans that were modified as TDRs during the periods indicated. Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2019 2018 2019 2018 2019 2018 Three Months Ended September 30, Commercial real estate — 1 $ — $ 608 $ — — $ 608 Total — 1 $ — $ 608 $ — $ 608 Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2019 2018 2019 2018 2019 2018 Nine Months Ended September 30, Residential real estate 1 2 $ 34 $ 2,826 $ 34 $ 2,822 Commercial business 2 1 465 37 465 29 Commercial real estate — 1 — 608 — — 608 Total 3 4 $ 499 $ 3,471 $ 499 $ 3,459 At September 30, 2019 and December 31, 2018 , there were two nonaccrual loans identified as TDRs totaling $1.3 million and six nonaccrual loans identified as TDRs totaling $3.6 million , respectively. The following table provides information on how loans were modified as TDRs during the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Payment concession $ — $ — $ — $ 2,101 Maturity concession — — 125 — Maturity and payment concession — — — 750 Maturity and rate concession — 608 — 608 Rate and payment concession — — 374 — Total $ — $ 608 $ 499 $ 3,459 There were two loans modified in a troubled debt restructuring that re-defaulted during the nine months ended September 30, 2019 . The total recorded investment in these loans was $1.3 million at September 30, 2019 . There was one loan modified in a troubled debt restructuring that re-defaulted during the nine months ended September 30, 2018 . The total recorded investment in this loan was $2.0 million at September 30, 2018 .

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity Common Stock The Company has 10,000,000 shares authorized and 7,841,103 shares issued and outstanding at September 30, 2019 and 10,000,000 shares authorized and 7,842,271 shares issued and outstanding at December 31, 2018 . The Company's stock is traded on the NASDAQ stock market under the ticker symbol BWFG. Warrants On October 1, 2014, the Company acquired Quinnipiac Bank and Trust Co. and, in connection therewith, the Company issued 68,600 warrants to former Quinnipiac warrant holders in accordance with the merger agreement. Each warrant was automatically converted into a warrant to purchase 0.56 shares of the Company’s common stock for an exercise price of $17.86 . During the first quarter of 2018, all remaining warrants were exercised. The Company does not have any warrants outstanding as of September 30, 2019 . Dividends The Company’s shareholders are entitled to dividends when and if declared by the Board of Directors out of funds legally available. The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements. Issuer Purchases of Equity Securities On December 19, 2018 , the Company's Board of Directors authorized a share repurchase program of up to 400,000 shares of the Company's Common Stock. The Company intends to accomplish the share repurchases through open market transactions, though the Company could accomplish repurchases through other means, such as privately negotiated transactions. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The share repurchase plan does not obligate the Company to acquire any particular amount of Common Stock, and it may be modified or suspended at any time at the Company's discretion. During the nine months ended September 30, 2019 , the Company purchased 34,168 shares of its Common Stock at a weighted average price of $28.87 per share. The Company did not repurchase any of its Common Stock for the year ended December 31, 2018 .

Comprehensive Income

Comprehensive Income	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Comprehensive Income	Comprehensive Income Comprehensive income represents the sum of net income and items of other comprehensive income or loss, including net unrealized gains or losses on securities available for sale and net unrealized gains or losses on derivatives. The Company's derivative instruments are utilized to manage economic risks, including interest rate risk. Changes in fair value of the Company's derivatives are primarily driven by changes in interest rates and recognized in other comprehensive income. The Company's current derivative positions will cause a decrease to other comprehensive income in a falling interest rate environment and an increase in a rising interest rate environment. The Company’s total comprehensive income or loss for the three and nine months ended September 30, 2019 and 2018 is reported in the Consolidated Statements of Comprehensive Income. The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax for the three and nine months ended September 30, 2019 and 2018 : Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at June 30, 2019 $ 670 $ (7,595 ) $ (6,925 ) Other comprehensive income (loss) before reclassifications, net of tax 279 (4,555 ) (4,276 ) Net other comprehensive income (loss) 279 (4,555 ) (4,276 ) Balance at September 30, 2019 $ 949 $ (12,150 ) $ (11,201 ) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at June 30, 2018 $ (1,764 ) $ 3,043 $ 1,279 Other comprehensive (loss) income before reclassifications, net of tax (508 ) 1,409 901 Net other comprehensive (loss) income (508 ) 1,409 901 Balance at September 30, 2018 $ (2,272 ) $ 4,452 $ 2,180 Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2018 $ (1,379 ) $ 342 $ (1,037 ) Other comprehensive income (loss) before reclassifications, net of tax 2,388 (12,492 ) (10,104 ) Amounts reclassified from accumulated other comprehensive income, net of tax (60 ) — (60 ) Net other comprehensive income (loss) 2,328 (12,492 ) (10,164 ) Balance at September 30, 2019 $ 949 $ (12,150 ) $ (11,201 ) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2017 $ 85 $ 1,609 $ 1,694 Other comprehensive (loss) income before reclassifications, net of tax (2,182 ) 2,843 661 Amounts reclassified from accumulated other comprehensive income, net of tax (175 ) — (175 ) Net other comprehensive (loss) income (2,357 ) 2,843 486 Balance at September 30, 2018 $ (2,272 ) $ 4,452 $ 2,180 The following table provides information for the items reclassified from accumulated other comprehensive income or loss: Accumulated Other Comprehensive Income Components Three Months Ended September 30, Nine Months Ended September 30, Associated Line Item in the Consolidated Statements of Income 2019 2018 2019 2018 (In thousands) Available for sale securities: Unrealized gains on investments $ — $ — $ 76 $ 222 Net gain on sale of available for sale securities Tax expense — — (16 ) (47 ) Income tax expense Net of tax $ — $ — $ 60 $ 175

Earnings per Share ("EPS")

Earnings per Share ("EPS")	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share (EPS)	Earnings per Share ("EPS") Unvested restricted stock awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of EPS pursuant to the two-class method. The two-class method is an earnings allocation formula that determines EPS for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. The Company’s unvested restricted stock awards qualify as participating securities. Net income is allocated between the common stock and participating securities pursuant to the two-class method. Basic EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, excluding participating unvested restricted stock awards. Diluted EPS is computed in a similar manner, except that the denominator includes the number of additional common shares that would have been outstanding if potentially dilutive common shares were issued using the treasury stock method. The following table is a reconciliation of earnings available to common shareholders and basic weighted average common shares outstanding to diluted weighted average common shares outstanding, reflecting the application of the two-class method: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 4,088 $ 4,857 $ 14,744 $ 14,172 Dividends to participating securities (1) (12 ) (13 ) (35 ) (39 ) Undistributed earnings allocated to participating securities (1) (35 ) (52 ) (135 ) (153 ) Net income for earnings per share calculation $ 4,041 $ 4,792 $ 14,574 $ 13,980 Weighted average shares outstanding, basic 7,750 7,738 7,761 7,713 Effect of dilutive equity-based awards (2) 16 26 28 46 Weighted average shares outstanding, diluted 7,766 7,764 7,789 7,759 Net earnings per common share: Basic earnings per common share $ 0.52 $ 0.62 $ 1.88 $ 1.81 Diluted earnings per common share $ 0.52 $ 0.62 $ 1.87 $ 1.80 (1) Represents dividends paid and undistributed earnings allocated to unvested stock-based awards that contain non-forfeitable rights to dividends. (2) Represents the effect of the assumed exercise of stock options and the vesting of restricted shares, as applicable, utilizing the treasury stock method.

Regulatory Matters

Regulatory Matters	9 Months Ended
	Sep. 30, 2019
Banking and Thrift [Abstract]
Regulatory Matters	Regulatory Matters The Federal Reserve, the FDIC and the other federal and state bank regulatory agencies establish regulatory capital guidelines for U.S. banking organizations. As of January 1, 2015, the Company and the Bank became subject to new capital rules set forth by the Federal Reserve, the FDIC and the other federal and state bank regulatory agencies. The capital rules revise the banking agencies’ leverage and risk-based capital requirements and the method for calculating risk weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act (the Basel III Capital Rules). The Basel III Capital Rules establish a minimum Common Equity Tier 1 capital requirement of 4.5% of risk-weighted assets; set the minimum leverage ratio at 4.0% of total assets; increased the minimum Tier 1 capital to risk-weighted assets requirement from 4.0% to 6.0% ; and retained the minimum total capital to risk weighted assets requirement at 8.0% . A “well-capitalized” institution must generally maintain capital ratios 100-200 basis points higher than the minimum guidelines. The Basel III Capital Rules also change the risk weights assigned to certain assets. The Basel III Capital Rules assigned a higher risk weight ( 150% ) to loans that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The Basel III Capital Rules also alter the risk weighting for other assets, including marketable equity securities that are risk weighted generally at 300% . The Basel III Capital Rules require certain components of accumulated other comprehensive income (loss) to be included for purposes of calculating regulatory capital requirements unless a one-time opt-out is exercised. The Bank did exercise its opt-out option and excludes the unrealized gain (loss) on investment securities component of accumulated other comprehensive income (loss) from regulatory capital. The Basel III Capital Rules limit a banking organization’s capital distributions and certain discretionary bonus payments to executive officers if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity to risk weighted assets, in addition to the amounts necessary to meet the minimum risk-based capital requirements described above. As of January 1, 2019, the “capital conservation buffer” increased from 1.875% to 2.5% . 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 the Company’s consolidated financial statements. As of September 30, 2019 , the Bank and Company met all capital adequacy requirements to which they are subject. There are no conditions or events since then that management believes have changed this conclusion. The capital amounts and ratios for the Bank and the Company at September 30, 2019 and December 31, 2018 were as follows: Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank September 30, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 203,119 12.65 % $ 112,392 7.00 % $ 104,364 6.50 % Total Capital to Risk-Weighted Assets 216,331 13.47 % 168,589 10.50 % 160,561 10.00 % Tier I Capital to Risk-Weighted Assets 203,119 12.65 % 136,476 8.50 % 128,448 8.00 % Tier I Capital to Average Assets 203,119 10.88 % 74,676 4.00 % 93,345 5.00 % Bankwell Financial Group, Inc. September 30, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 184,441 11.47 % $ 112,590 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 222,847 13.85 % 168,885 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 184,441 11.47 % 136,716 8.50 % N/A N/A Tier I Capital to Average Assets 184,441 9.86 % 74,787 4.00 % N/A N/A Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2018 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 191,128 11.56 % $ 105,392 6.38 % $ 107,459 6.50 % Total Capital to Risk-Weighted Assets 206,593 12.50 % 163,255 9.88 % 165,321 10.00 % Tier I Capital to Risk-Weighted Assets 191,128 11.56 % 130,190 7.88 % 132,257 8.00 % Tier I Capital to Average Assets 191,128 10.14 % 75,432 4.00 % 94,290 5.00 % Bankwell Financial Group, Inc. December 31, 2018 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 172,415 10.41 % $ 105,575 6.38 % N/A N/A Total Capital to Risk-Weighted Assets 213,035 12.86 % 163,537 9.88 % N/A N/A Tier I Capital to Risk-Weighted Assets 172,415 10.41 % 130,416 7.88 % N/A N/A Tier I Capital to Average Assets 172,415 9.13 % 75,567 4.00 % N/A N/A Regulatory Restrictions on Dividends The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. In accordance with Connecticut statutes, regulatory approval is required to pay dividends in excess of the Bank’s profits retained in the current year plus retained profits from the previous two years. The Bank is also prohibited from paying dividends that would reduce its capital ratios below minimum regulatory requirements. Reserve Requirements on Cash The Bank is required to maintain a minimum reserve balance of $12.3 million and $16.8 million in the Federal Reserve Bank at September 30, 2019 and December 31, 2018 , respectively. The Bank is also required to maintain a minimum reserve balance of $4.5 million at Atlantic Community Bankers Bank (formerly Bankers’ Bank Northeast) at September 30, 2019 and December 31, 2018 . These balances are maintained for clearing purposes in the ordinary course of business and do not represent restricted cash.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Stock-Based Compensation	Stock-Based Compensation Equity award plans The Company has stock options or unvested restricted stock outstanding under three equity award plans, which are collectively referred to as the “Plan”. The current plan under which any future issuances of equity awards will be made is the 2012 BNC Financial Group, Inc. Stock Plan, or the “2012 Plan,” last amended on June 26, 2013. All equity awards made under the 2012 Plan are made by means of an award agreement, which contains the specific terms and conditions of the grant. To date, all equity awards have been in the form of stock options or restricted stock. At September 30, 2019 , there were 672,832 shares reserved for future issuance under the 2012 Plan. Stock Options : The Company accounts for stock options based on the fair value at the date of grant and records an expense over the vesting period of such awards on a straight line basis. There were no options granted during the nine months ended September 30, 2019 . A summary of the status of outstanding stock options for the nine months ended September 30, 2019 is presented below: Nine Months Ended September 30, 2019 Number of Shares Weighted Average Exercise Price Options outstanding at beginning of period 19,030 $ 15.91 Exercised (2,350 ) 13.14 Options outstanding at end of period 16,680 16.30 Options exercisable at end of period 16,680 16.30 Intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of share options exercised during the nine months ended September 30, 2019 was $40 thousand . The range of exercise prices for the 16,680 options exercisable at September 30, 2019 was $11.00 to $17.86 per share. The weighted average remaining contractual life for these options was 2.8 years at September 30, 2019 . At September 30, 2019 , as all awarded options have vested, all of the outstanding options are exercisable, and the aggregate intrinsic value of these options was $0.2 million . Restricted Stock : Restricted stock provides grantees with rights to shares of common stock upon completion of a service period. Shares of unvested restricted stock are considered participating securities. Restricted stock awards generally vest over one to five years . The following table presents the activity for restricted stock for the nine months ended September 30, 2019 : Nine Months Ended September 30, 2019 Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 77,624 (1) $ 30.78 Granted 34,450 (2) 29.69 Vested (19,801 ) 30.23 Forfeited (3,800 ) 22.82 Unvested at end of period 88,473 30.82 (1) Includes 11,250 shares of performance based restricted stock (2) Includes 7,500 shares of performance based restricted stock The total fair value of restricted stock awards vested during the nine months ended September 30, 2019 was $0.6 million . The Company's restricted stock expense for the nine months ended September 30, 2019 and 2018 was $0.8 million and $1.0 million , respectively. At September 30, 2019 , there was $2.0 million of unrecognized stock compensation expense for restricted stock, expected to be recognized over a weighted average period of 1.6 years . Performance Based Restricted Stock : On February 20, 2018, the Company issued 11,250 shares of restricted stock with performance and service conditions and on March 18, 2019, the Company issued 7,500 shares of restricted stock with performance and service conditions pursuant to the Company’s 2012 Stock Plan. The awards vest over a three -year service period, provided certain performance metrics are met. The share quantity, which can range between 0% and 200% , of the grant is dependent on the degree to which the performance metrics are met. The Company records an expense over the vesting period based on (a) the probability that the performance metric will be met and (b) the fair market value of the Company’s stock at the date of the grant.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company manages economic risks, including interest rate, liquidity, and credit risk, by managing the amount, sources, and duration of its funding along with the use of interest rate derivative financial instruments, namely interest rate swaps. The Company does not use derivatives for speculative purposes. As of September 30, 2019 , the Company was a party to six interest rate swaps, designated as hedging instruments, to add stability to interest expense and to manage its exposure to interest rate movements. The notional amount for each swap is $25 million and in each case, the Company has entered into pay-fixed LIBOR interest rate swaps to convert rolling 90 days Federal Home Loan Bank advances or brokered deposits. In addition, as of September 30, 2019 , the Company was a party to two forward-starting interest rate swaps on probable future FHLB advances or brokered deposits. As of September 30, 2019 , the Company entered into two interest rate swaps not designated as hedging instruments, to minimize interest rate risk exposure with loans to customers. The Company accounts for all non-borrower related interest rate swaps as effective cash flow hedges. None of the interest rate swap agreements contain any credit risk related contingent features. A hedging instrument is expected at inception to be highly effective at offsetting changes in the hedged transactions attributable to the changes in the hedged risk. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain loan customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. Interest rate swaps with a positive fair value are recorded as other assets and interest rate swaps with a negative fair value are recorded as other liabilities on the Consolidated Balance Sheets. Information about derivative instruments at September 30, 2019 and December 31, 2018 is as follows: September 30, 2019: (Dollars in thousands) Notional Amount Original Maturity Received Paid Fair Value Asset (Liability) Derivatives designated as hedging instruments: Interest rate swap $ 25,000 5.0 years 3-month USD LIBOR 1.83% $ 17 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.48% 81 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.22% 186 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% (668 ) Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% (674 ) Interest rate swap 25,000 15.0 years 3-month USD LIBOR 3.01% (4,593 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.03% (4,861 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.05% (4,869 ) $ 200,000 $ (15,381 ) Derivatives not designated as hedging instruments: (2) Interest rate swap $ 20,000 20.0 years 1-month USD LIBOR 5.00% $ (2,702 ) Interest rate swap 20,000 20.0 years 1-month USD LIBOR 5.00% 2,702 $ 40,000 $ — Total derivatives $ 240,000 $ (15,381 ) (1) The effective date of the forward-starting interest rate swaps listed above are January 2, 2020 and August 26, 2020, respectively. (2) Represents an interest rate swap with a commercial banking customer, which is offset by a derivative with a third party. Accrued interest receivable related to interest rate swaps as of September 30, 2019 totaled $0.1 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps including accrued interest totaled $15.3 million as of September 30, 2019 . December 31, 2018: (Dollars in thousands) Notional Amount Original Maturity Received Paid Fair Value Asset (Liability) Cash flow hedge: Interest rate swap $ 25,000 4.7 years 3-month USD LIBOR 1.62% $ 1 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.83% 220 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.48% 475 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.22% 828 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% 675 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% 668 Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.01% (807 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.03% (819 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.05% (811 ) $ 225,000 $ 430 (1) The effective date of the forward-starting interest rate swaps listed above are January 2, 2019, January 2, 2020 and August 26, 2020, respectively. Accrued interest receivable related to interest rate swaps as of December 31, 2018 totaled $0.2 million and is excluded from the fair value presented in the table above. The fair value of interest rate swaps including accrued interest totaled $0.7 million as of December 31, 2018. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company expects to reclassify $0.5 million as an increase to interest expense during the next 12 months. The Company assesses 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 item or transaction. The interest rate swap assets are presented in other assets and the interest rate swap liabilities are presented in accrued expenses and other liabilities in the Consolidated Balance Sheets. The Company does not offset derivative assets and derivative liabilities for financial statement presentation purposes. The Company's cash flow hedge positions consist of interest rate swap transactions as detailed in the table below: Notional Amount Original Effective Date of Hedged Borrowing Duration of Borrowing Counterparty (Dollars in Thousands) $ 25,000 January 2, 2015 5.0 years Bank of Montreal 25,000 August 26, 2015 5.0 years Bank of Montreal 25,000 July 1, 2016 5.0 years Bank of Montreal 25,000 August 25, 2017 7.0 years Bank of Montreal 25,000 August 25, 2017 7.0 years FTN Financial Capital Markets 25,000 January 2, 2019 15.0 years Bank of Montreal $ 150,000 This hedge strategy converts the rate of interest on short term rolling FHLB advances or brokered deposits to long term fixed interest rates, thereby protecting the Company from interest rate variability. Changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows were as follows for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Interest rate swap on FHLB advances and brokered deposits: Unrealized (losses) gains recognized in accumulated other comprehensive income $ (5,766 ) $ 1,784 $ (15,811 ) $ 3,599 Income tax benefit (expense) on items recognized in accumulated other comprehensive income 1,211 (375 ) 3,319 (756 ) Other comprehensive (loss) income $ (4,555 ) $ 1,409 $ (12,492 ) $ 2,843 Amount recognized in interest expense on hedged FHLB advances and brokered deposits $ 742 $ 653 $ 2,202 $ 1,939 The above unrealized gains and losses are reflective of market interest rates as of the respective balance sheet dates. Generally, a lower interest rate environment will result in a negative impact to comprehensive income whereas a higher interest rate environment will result in a positive impact to comprehensive income.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the Consolidated Balance Sheets, for which it is practicable to estimate that value. 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 rates and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparisons to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent limitations in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates presented herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction. The estimated fair value amounts have been measured as of the respective period-ends, and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk. The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 83,109 $ 83,109 $ 83,109 $ — $ — Marketable equity securities 2,120 2,120 2,120 — — Available for sale securities 86,017 86,017 10,022 75,995 — Held to maturity securities 17,365 19,758 — 1,086 18,672 Loans receivable, net 1,548,988 1,562,471 — — 1,562,471 Accrued interest receivable 5,916 5,916 — 5,916 — FHLB stock 7,475 7,475 — 7,475 — Servicing asset, net of valuation allowance 946 946 — — 946 Derivative asset 2,986 2,986 — 2,986 — Financial Liabilities: Noninterest bearing deposits $ 178,733 $ 178,733 $ — $ 178,733 $ — NOW and money market 471,893 471,893 — 471,893 — Savings 176,232 176,232 — 176,232 — Time deposits 643,426 649,182 — — 649,182 Accrued interest payable 1,577 1,577 — 1,577 — Advances from the FHLB 150,000 149,994 — — 149,994 Subordinated debentures 25,194 25,526 — — 25,526 Servicing liability 65 65 — — 65 Derivative liability 18,367 18,367 — 18,367 — December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 75,411 $ 75,411 $ 75,411 $ — $ — Federal funds sold 2,701 2,701 2,701 — — Marketable equity securities 2,009 2,009 2,009 — — Available for sale securities 93,154 93,154 9,798 83,356 — Held to maturity securities 21,421 21,988 — 1,098 20,890 Loans receivable, net 1,586,775 1,584,858 — — 1,584,858 Accrued interest receivable 6,375 6,375 — 6,375 — FHLB stock 8,110 8,110 — 8,110 — Servicing asset, net of valuation allowance 870 870 — — 870 Derivative asset 2,867 2,867 — 2,867 — Financial Liabilities: Noninterest bearing deposits $ 173,198 $ 173,198 $ — $ 173,198 $ — NOW and money market 533,837 533,837 — 533,837 — Savings 180,487 180,487 — 180,487 — Time deposits 614,722 616,973 — — 616,973 Accrued interest payable 1,381 1,381 — 1,381 — Advances from the FHLB 160,000 159,753 — — 159,753 Subordinated debentures 25,155 24,211 — — 24,211 Servicing liability 73 73 — — 73 Derivative liability 2,437 2,437 — 2,437 — The following methods and assumptions were used by management in estimating the fair value of its financial instruments: Cash and due from banks, federal funds sold, accrued interest receivable and accrued interest payable: The carrying amount is a reasonable estimate of fair value. Marketable equity securities, available for sale securities and held to maturity securities: Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. The majority of the available for sale securities are considered to be Level 2 as other observable inputs are utilized, such as quoted prices for similar securities. Level 1 investment securities include investments in U.S. treasury notes and in marketable equity securities for which a quoted price is readily available. Level 3 held to maturity securities represent private placement municipal housing authority bonds for which no quoted market price is available. The fair value for these securities is estimated using a discounted cash flow model, using discount rates ranging from 3.6% to 4.0% as of September 30, 2019 and 4.7% to 5.1% as of December 31, 2018 . These securities are CRA eligible investments. FHLB stock: The carrying value of FHLB stock approximates fair value based on the most recent redemption provisions of the FHLB. Loans receivable: For variable rate loans which reprice frequently and have no significant change in credit risk, fair values are based on carrying values. The fair value of fixed rate loans are estimated by discounting the future cash flows using the rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The fair value methodology includes prepayment, default and loss severity assumptions applied by the type of loan. The fair value estimate of the loans includes an expected credit loss. Derivative asset (liability): The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company also considers the creditworthiness of each counterparty for assets and the creditworthiness of the Company for liabilities. Servicing asset (liability): Servicing assets and liabilities do not trade in an active, open market with readily observable prices. The Company estimates the fair value of servicing assets and liabilities using discounted cash flow models, incorporating numerous assumptions from the perspective of a market participant, including market discount rates. Deposits: The fair value of demand deposits, regular savings and certain money market deposits is the amount payable on demand at the reporting date. The fair value of certificates of deposit and other time deposits is estimated using a discounted cash flow calculation that applies interest rates currently being offered for deposits of similar remaining maturities to a schedule of aggregated expected maturities on such deposits. Borrowings and Subordinated Debentures: The fair value of the Company’s borrowings and subordinated debentures is estimated using a discounted cash flow calculation that applies discount rates currently offered based on similar maturities. The Company also considers its own creditworthiness in determining the fair value of its borrowings and subordinated debt. Contractual cash flows for the subordinated debt are reduced based on the estimated rates of default, the severity of losses to be incurred on a default, and the rates at which the subordinated debt is expected to prepay after the call date. Off-balance-sheet instruments: Loan commitments on which the committed interest rate is less than the current market rate are insignificant at September 30, 2019 and December 31, 2018 .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to account for certain assets at fair value on a recurring or non-recurring basis. The Company determines fair value in accordance with GAAP, which defines fair value and establishes a framework for measuring fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 — Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 — Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Valuation techniques based on unobservable inputs are highly subjective and require judgments regarding significant matters such as the amount and timing of future cash flows and the selection of discount rates that may appropriately reflect market and credit risks. Changes in these judgments often have a material impact on the fair value estimates. In addition, since these estimates are as of a specific point in time they are susceptible to material near-term changes. Financial instruments measured at fair value on a recurring basis The following table details the financial instruments carried at fair value on a recurring basis at September 30, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the nine months ended September 30, 2019 and for the year ended December 31, 2018 . Fair Value (In thousands) Level 1 Level 2 Level 3 September 30, 2019: Marketable equity securities $ 2,120 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 10,022 75,995 — Derivative asset — 2,986 — Derivative liability — 18,367 — December 31, 2018: Marketable equity securities $ 2,009 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 9,798 72,338 — State agency and municipal obligations — 4,007 — Corporate bonds — 7,011 — Derivative asset — 2,867 — Derivative liability — 2,437 — Marketable equity securities and available for sale investment securities: The fair value of the Company’s investment securities is estimated by using pricing models or quoted prices of securities with similar characteristics (i.e., matrix pricing) and is classified within Level 1 or Level 2 of the valuation hierarchy. The pricing is primarily sourced from third party pricing services overseen by management. Derivative assets and liabilities: The Company’s derivative assets and liabilities consist of transactions as part of management’s strategy to manage interest rate risk. The valuation of the Company’s interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. The Company has determined that the majority of the inputs used to value its interest rate derivatives fall within Level 2 of the fair value hierarchy. Financial instruments measured at fair value on a nonrecurring basis Certain assets and liabilities are measured at fair value on a non-recurring basis in accordance with GAAP. These include assets that are measured at the lower-of-cost-or-market that were recognized at fair value below cost at the end of the period as well as assets that are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The following table details the financial instruments measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value (In thousands) Level 1 Level 2 Level 3 September 30, 2019: Impaired loans $ — $ — $ 13,407 Servicing asset, net — — 881 December 31, 2018: Impaired loans $ — $ — $ 18,709 Servicing asset, net — — 797 The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 : Fair Value Valuation Methodology Unobservable Input Range (Dollars in thousands) September 30, 2019: Impaired loans $ 5,896 Appraisals Discount to appraised value 8.00 - 28.00% 7,511 Discounted cash flows Discount rate 3.60 - 7.00% $ 13,407 Servicing asset, net $ 881 Discounted cash flows Discount rate 10.00 - 11.00% (1) Prepayment rate 3.00 - 19.00% December 31, 2018: Impaired loans $ 10,188 Appraisals Discount to appraised value 5.00 - 8.00% 8,521 Discounted cash flows Discount rate 3.25 - 8.00% $ 18,709 Servicing asset, net $ 797 Discounted cash flows Discount rate 10.00 - 12.00% (2) Prepayment rate 3.00 - 15.00% (1) Servicing liabilities totaling $65 thousand were valued using a discount rate of 1.4% (2) Servicing liabilities totaling $73 thousand were valued using a discount rate of 2.8% Impaired loans : Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans calculated in accordance with ASC 310-10 when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or other assumptions. Estimates of fair value based on collateral are generally based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3. For those loans where the primary source of repayment is cash flow from operations, adjustments include impairment amounts calculated based on the perceived collectability of interest payments on the basis of a discounted cash flow analysis utilizing a discount rate equivalent to the original note rate. Servicing assets and liabilities: When loans are sold, on a servicing retained basis, servicing rights are initially recorded at fair value. All classes of servicing assets are subsequently measured using the amortization method, which requires servicing rights to be amortized. The fair value of servicing assets and liabilities are not measured on an ongoing basis but are subject to fair value adjustments when and if the assets or liabilities are deemed to be impaired.

Subordinated debentures

Subordinated debentures	9 Months Ended
	Sep. 30, 2019
Subordinated Borrowings [Abstract]
Subordinated debentures	Subordinated debentures On August 19, 2015, the Company completed a private placement of $25.5 million in aggregate principal amount of fixed rate subordinated notes (the “Notes”) to certain institutional investors. The Notes are non-callable for five years, have a stated maturity of August 15, 2025 , and bear interest at a quarterly pay fixed rate of 5.75% per annum to the maturity date or the early redemption date. The Notes have been structured to qualify for the Company as Tier 2 capital under regulatory guidelines. We used the net proceeds for general corporate purposes, which included maintaining liquidity at the holding company, providing equity capital to the Bank to fund balance sheet growth and the Company's working capital needs. The Notes were assigned an investment grade rating of BBB by Kroll Bond Rating Agency, which was reaffirmed in the third quarter of 2019.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842). As of September 30, 2019 , the Company leases real estate for ten branch offices under various operating lease agreements. The branch leases have maturities which range from 2019 to 2029, some of which include options to extend the lease term. The weighted average remaining life of the lease term for these leases was 6.7 years as of September 30, 2019 . In addition, the Company’s headquarter building (included in premises and equipment) is on land that is leased from the local municipality. As of September 30, 2019 the land lease has a remaining life of 80.8 years . The Company utilized a weighted average discount rate of 6.0% in determining the lease liability as of January 1, 2019. The total operating lease costs were $0.5 million and $1.5 million for the three and nine months ended September 30, 2019 , respectively. The right-of-use asset, included in premises and equipment, net was $10.1 million as of September 30, 2019 and the corresponding lease liability, included in accrued expenses and other liabilities was $10.2 million as of September 30, 2019 . Future minimum lease payments as of September 30, 2019 are as follows: September 30, 2019 (In thousands) 2019 $ 512 2020 1,901 2021 1,796 2022 1,164 2023 1,171 Thereafter 18,713 Total $ 25,257 A reconciliation of the undiscounted cash flows in the maturity table above and the lease liability recognized in the consolidated balance sheet as of September 30, 2019 , is shown below: September 30, 2019 (In thousands) Undiscounted cash flows $ 25,257 Discount effect of cash flows (15,056 ) Lease liability $ 10,201

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 30, 2019, the Company’s Board of Directors declared a $0.13 per share cash dividend, payable on November 25, 2019 to shareholders of record on November 15, 2019.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of the Company and the Bank, including its wholly owned passive investment company subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the consolidated balance sheet, and revenue and expenses for the period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses, the valuation of derivative instruments, investment securities and deferred income taxes, and the evaluation of investment securities for other than temporary impairment.
Basis of consolidated financial statement presentation	Basis of consolidated financial statement presentation The unaudited consolidated financial statements presented herein have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and note disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) and disclosures considered necessary for the fair presentation of the accompanying unaudited interim consolidated financial statements have been included. Interim results are not necessarily reflective of the results that may be expected for the year ending December 31, 2019 . The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included on Form 10-K for the year ended December 31, 2018 .
Significant concentrations of credit risk	Significant concentrations of credit risk Most of the Company’s activities are with customers located in the New York metropolitan area and throughout Fairfield and New Haven Counties and the surrounding region of Connecticut. Declines in property values in these areas could significantly impact the Company. The Company has a significant concentration in commercial real estate loans. Management does not believe this presents any special risk as loans are subject to an appropriate credit risk monitoring process. The Company does not have any significant concentrations in any one industry or customer.
Common Shares Repurchases	Common Share Repurchases The Company is incorporated in the state of Connecticut. Connecticut law does not provide for treasury shares, rather shares repurchased by the Company constitute authorized, but unissued shares. GAAP states that accounting for treasury stock shall conform to state law. Therefore, the cost of shares repurchased by the Company has been allocated to common stock balances.
Reclassification	Reclassification Certain prior period amounts have been reclassified to conform to the 2019 financial statement presentation. These reclassifications only changed the reporting categories and did not affect the consolidated results of operations or consolidated financial position of the Company.
Recent accounting pronouncements	Recent accounting pronouncements The following section includes changes in accounting principles and potential effects of new accounting guidance and pronouncements. Recently issued accounting pronouncements not yet adopted ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): “Measurement of Credit Losses on Financial Instruments.” This ASU changes the impairment model for most financial assets and certain other instruments. For trade and other receivables, held to maturity debt securities, loans and other instruments, entities will be required to use a new forward-looking “expected loss” model that will replace today’s “incurred loss” model and can result in the earlier recognition of credit losses. For available for sale debt securities with unrealized losses, entities will measure credit losses in a manner similar to current practice, except that the losses will be recognized as an allowance. This update will be effective for the Company on January 1, 2020, including interim periods within that fiscal year. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is currently working with third-party consultants and continues to evaluate the impact of its pending adoption of this guidance on the Company's financial statements. On July 17, 2019, the FASB proposed deferring the effective date of ASC 326 for smaller reporting companies as defined by the SEC. The FASB has proposed a three-year deferral for smaller reporting companies, with an effective date of January 1, 2023. On October 16, 2019, the FASB voted in favor of finalizing its proposal to defer the effective date of this standard. Subject to any additional guidance or clarification from the FASB or the SEC, management believes the Company will qualify for this proposed deferral. ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment.” This ASU simplifies the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity was required to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In addition, this ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments will be effective for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. On October 16, 2019, the FASB voted in favor of a proposal to defer the effective date of this standard in the same manner it is deferring the effective date of ASC 326. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. ASU No. 2018-13, Fair Value Measurement (Topic 820) : “Changes to the Disclosure Requirements for Fair Value Measurement.” The amendments in this update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The following disclosure requirements were removed from topic 820 for public entities: (1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, (2) the policy for timing of transfers between levels and (3) the valuation processes for Level 3 fair value measurements. This update also modified and added disclosure requirements to Topic 820, including adding (1) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and (2) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information (such as the median or arithmetic average) in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods in the year of adoption. Early adoption is permitted for any interim or annual period. The Company does not expect the application of this guidance to have a material impact on the Company’s financial statements. Recently adopted accounting pronouncements ASU No. 2016-02, Leases (Topic 842): The amendments in this ASU require lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by operating leases. Accounting by lessors will remain largely unchanged. In July 2018, the FASB issued a subsequent update which introduced a new transition method, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The guidance was effective for the Company on January 1, 2019. The Company recognized $0.5 million , net of tax, as a cumulative-effect adjustment to the opening balance of retained earnings at the time of adoption on January 1, 2019. In addition, the Company recorded a right of use asset totaling $10.6 million and a lease liability totaling $10.6 million on the balance sheet for the Company's outstanding lease obligations on January 1, 2019. The Company utilized a 6% discount rate to calculate the present value of the right of use asset and lease liability on January 1, 2019. The right of use asset is disclosed within premises and equipment, net on the balance sheet and the lease liability is disclosed within accrued expenses and other liabilities on the balance sheet.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities	The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at September 30, 2019 were as follows: September 30, 2019 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 2,100 $ — $ (4 ) $ 2,096 Due from one through five years 10,944 78 (5 ) 11,017 Due from five through ten years 8,354 385 (1 ) 8,738 Due after ten years 63,418 748 — 64,166 Total available for sale securities $ 84,816 $ 1,211 $ (10 ) $ 86,017 Held to maturity securities: State agency and municipal obligations Due after ten years $ 16,284 $ 2,388 $ — $ 18,672 Corporate bonds Less than one year 1,000 — (4 ) 996 Government-sponsored mortgage backed securities No contractual maturity 81 9 — 90 Total held to maturity securities $ 17,365 $ 2,397 $ (4 ) $ 19,758 The amortized cost, gross unrealized gains and losses and fair value of available for sale and held to maturity securities at December 31, 2018 were as follows: December 31, 2018 Amortized Cost Gross Unrealized Fair Value Gains Losses (In thousands) Available for sale securities: U.S. Government and agency obligations Less than one year $ 1,000 $ — $ (11 ) $ 989 Due from one through five years 12,025 — (161 ) 11,864 Due from five through ten years 100 — (5 ) 95 Due after ten years 70,690 7 (1,509 ) 69,188 83,815 7 (1,686 ) 82,136 State agency and municipal obligations Due from one through five years 2,234 18 — 2,252 Due from five through ten years 1,261 18 — 1,279 Due after ten years 528 — (52 ) 476 4,023 36 (52 ) 4,007 Corporate bonds Due from one through five years 7,061 — (50 ) 7,011 Total available for sale securities $ 94,899 $ 43 $ (1,788 ) $ 93,154 Held to maturity securities: State agency and municipal obligations Less than one year $ 3,894 $ 6 $ — $ 3,900 Due after ten years 16,434 669 (113 ) 16,990 20,328 675 (113 ) 20,890 Corporate bonds Less than one year 1,000 — — 1,000 Government-sponsored mortgage backed securities No contractual maturity 93 5 — 98 Total held to maturity securities $ 21,421 $ 680 $ (113 ) $ 21,988
Schedule of fair value and related unrealized losses of temporarily impaired investment securities, aggregated by investment category	The following table provides information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018 : Length of Time in Continuous Unrealized Loss Position Less Than 12 Months 12 Months or More Total Fair Value Unrealized Loss Percent Decline from Amortized Cost Fair Value Unrealized Loss Percent Decline from Amortized Cost Fair Value Unrealized Loss Percent Decline from Amortized Cost (Dollars in thousands) September 30, 2019 U.S. Government and agency obligations $ 99 $ (1 ) 0.41 % $ 3,090 $ (9 ) 0.31 % $ 3,189 $ (10 ) 0.31 % Corporate bonds 996 (4 ) 0.38 % — — — % 996 (4 ) 0.38 % Total investment securities $ 1,095 $ (5 ) 0.38 % $ 3,090 $ (9 ) 0.31 % $ 4,185 $ (14 ) 0.32 % December 31, 2018 U.S. Government and agency obligations $ 4,990 $ (38 ) 0.75 % $ 72,676 $ (1,648 ) 2.22 % $ 77,666 $ (1,686 ) 2.12 % State agency and municipal obligations 8,212 (113 ) 1.36 % 476 (52 ) 9.87 % 8,688 (165 ) 1.87 % Corporate bonds 2,033 (11 ) 0.51 % 4,978 (39 ) 0.78 % 7,011 (50 ) 0.70 % Total investment securities $ 15,235 $ (162 ) 1.05 % $ 78,130 $ (1,739 ) 2.18 % $ 93,365 $ (1,901 ) 2.00 %

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of loan portfolio	The following table sets forth a summary of the loan portfolio at September 30, 2019 and December 31, 2018 : (In thousands) September 30, 2019 December 31, 2018 Real estate loans: Residential $ 159,193 $ 178,079 Commercial 1,096,856 1,094,066 Construction 89,878 73,191 1,345,927 1,345,336 Commercial business 218,145 258,978 Consumer 260 412 Total loans 1,564,332 1,604,726 Allowance for loan losses (13,212 ) (15,462 ) Deferred loan origination fees, net (2,135 ) (2,497 ) Unamortized loan premiums 3 8 Loans receivable, net $ 1,548,988 $ 1,586,775
Schedule of allowance for loan losses	The following tables set forth the activity in the Company’s allowance for loan losses for the three and nine months ended September 30, 2019 and 2018 , by portfolio segment: Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended September 30, 2019 Beginning balance $ 923 $ 9,910 $ 259 $ 2,797 $ 1 $ 13,890 Charge-offs (78 ) (594 ) — (748 ) (57 ) (1,477 ) Recoveries — — — 2 24 26 (Credit) Provisions (54 ) 778 2 14 33 773 Ending balance $ 791 $ 10,094 $ 261 $ 2,065 $ 1 $ 13,212 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Three Months Ended September 30, 2018 Beginning balance $ 750 $ 14,185 $ 481 $ 3,589 $ 1 $ 19,006 Charge-offs (16 ) — — — (2 ) (18 ) Recoveries — — — — 1 1 Provisions (Credits) 349 (114 ) (122 ) 208 1 322 Ending balance $ 1,083 $ 14,071 $ 359 $ 3,797 $ 1 $ 19,311 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Nine Months Ended September 30, 2019 Beginning balance $ 857 $ 11,562 $ 140 $ 2,902 $ 1 $ 15,462 Charge-offs (875 ) (594 ) — (884 ) (70 ) (2,423 ) Recoveries — — — 18 28 46 Provisions (Credit) 809 (874 ) 121 29 42 127 Ending balance $ 791 $ 10,094 $ 261 $ 2,065 $ 1 $ 13,212 Residential Real Estate Commercial Real Estate Construction Commercial Business Consumer Total (In thousands) Nine Months Ended September 30, 2018 Beginning balance $ 1,721 $ 12,777 $ 907 $ 3,498 $ 1 $ 18,904 Charge-offs (72 ) (18 ) — (96 ) (62 ) (248 ) Recoveries — — — 4 6 10 (Credits) Provisions (566 ) 1,312 (548 ) 391 56 645 Ending balance $ 1,083 $ 14,071 $ 359 $ 3,797 $ 1 $ 19,311
Schedule of portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio	Loans evaluated for impairment and the related allowance for loan losses as of September 30, 2019 and December 31, 2018 were as follows: Portfolio Allowance (In thousands) September 30, 2019 Loans individually evaluated for impairment: Residential real estate $ 4,056 $ — Commercial real estate 6,062 109 Commercial business 3,542 144 Subtotal 13,660 253 Loans collectively evaluated for impairment: Residential real estate 155,137 791 Commercial real estate 1,090,794 9,985 Construction 89,878 261 Commercial business 214,603 1,921 Consumer 260 1 Subtotal 1,550,672 12,959 Total $ 1,564,332 $ 13,212 Portfolio Allowance (In thousands) December 31, 2018 Loans individually evaluated for impairment: Residential real estate $ 6,534 $ 233 Commercial real estate 6,383 — Commercial business 6,155 133 Consumer 3 — Subtotal 19,075 366 Loans collectively evaluated for impairment: Residential real estate 171,545 624 Commercial real estate 1,087,683 11,562 Construction 73,191 140 Commercial business 252,823 2,769 Consumer 409 1 Subtotal 1,585,651 15,096 Total $ 1,604,726 $ 15,462
Schedule of loan portfolio quality indicators by portfolio segment	The following tables present credit risk ratings by loan segment as of September 30, 2019 and December 31, 2018 : Commercial Credit Quality Indicators September 30, 2019 December 31, 2018 Commercial Real Estate Construction Commercial Business Total Commercial Real Estate Construction Commercial Business Total (In thousands) Pass $ 1,072,187 $ 89,878 $ 189,416 $ 1,351,481 $ 1,084,695 $ 73,191 $ 237,933 $ 1,395,819 Special Mention 18,607 — 25,187 43,794 2,988 — 14,890 17,878 Substandard 6,062 — 918 6,980 2,516 — 2,592 5,108 Doubtful — — 2,624 2,624 3,867 — 3,563 7,430 Loss — — — — — — — — Total loans $ 1,096,856 $ 89,878 $ 218,145 $ 1,404,879 $ 1,094,066 $ 73,191 $ 258,978 $ 1,426,235 Residential and Consumer Credit Quality Indicators September 30, 2019 December 31, 2018 Residential Real Estate Consumer Total Residential Real Estate Consumer Total (In thousands) Pass $ 155,007 $ 260 $ 155,267 $ 171,415 $ 409 $ 171,824 Special Mention 130 — 130 130 — 130 Substandard 3,868 — 3,868 6,534 3 6,537 Doubtful 188 — 188 — — — Loss — — — — — — Total loans $ 159,193 $ 260 $ 159,453 $ 178,079 $ 412 $ 178,491
Schedule of information with respect to our loan portfolio delinquencies by portfolio segment and amount	The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of September 30, 2019 and December 31, 2018 : September 30, 2019 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 1,070 $ 150 $ 281 $ 1,501 $ 157,692 $ 159,193 Commercial real estate 494 8,530 2,152 11,176 1,085,680 1,096,856 Construction 1,358 — — 1,358 88,520 89,878 Commercial business 158 373 2,601 3,132 215,013 218,145 Consumer — — — — 260 260 Total loans $ 3,080 $ 9,053 $ 5,034 $ 17,167 $ 1,547,165 $ 1,564,332 December 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Loans (In thousands) Real estate loans: Residential real estate $ 994 $ — $ 2,203 $ 3,197 $ 174,882 $ 178,079 Commercial real estate 668 133 4,386 5,187 1,088,879 1,094,066 Construction — — — — 73,191 73,191 Commercial business — 1 4,076 4,077 254,901 258,978 Consumer — — — — 412 412 Total loans $ 1,662 $ 134 $ 10,665 $ 12,461 $ 1,592,265 $ 1,604,726
Schedule of nonaccrual loans by portfolio segment	The following is a summary of nonaccrual loans by portfolio segment as of September 30, 2019 and December 31, 2018 : September 30, 2019 December 31, 2018 (In thousands) Residential real estate $ 1,583 $ 3,812 Commercial real estate 5,332 5,950 Commercial business 2,963 4,320 Total $ 9,878 $ 14,082
Schedule of summarizes impaired loans	The following table summarizes impaired loans by portfolio segment as of September 30, 2019 and December 31, 2018 : Carrying Amount Unpaid Principal Balance Associated Allowance September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,056 $ 4,520 $ 4,169 $ 4,613 $ — $ — Commercial real estate 5,308 6,383 5,562 12,191 — — Commercial business 1,228 5,212 1,812 6,051 — — Consumer — 3 — 3 — — Total impaired loans without a valuation allowance 10,592 16,118 11,543 22,858 — — Impaired loans with a valuation allowance: Residential real estate $ — $ 2,014 $ — $ 2,054 $ — $ 233 Commercial real estate 754 — 763 — 109 — Commercial business 2,314 943 2,926 945 144 133 Total impaired loans with a valuation allowance 3,068 2,957 3,689 2,999 253 366 Total impaired loans $ 13,660 $ 19,075 $ 15,232 $ 25,857 $ 253 $ 366 The following table summarizes the average carrying amount of impaired loans and interest income recognized on impaired loans by portfolio segment for the three and nine months ended September 30, 2019 and 2018 : Average Carrying Amount Interest Income Recognized Three Months Ended September 30, Three Months Ended September 30, 2019 2018 2019 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,076 $ 4,932 $ 31 $ 24 Commercial real estate 5,357 9,530 39 79 Commercial business 1,253 1,961 7 77 Consumer — 4 — — Total impaired loans without a valuation allowance 10,686 16,427 77 180 Impaired loans with a valuation allowance: Residential real estate $ — $ 2,237 $ — $ — Commercial real estate 766 11,033 3 16 Commercial business 2,323 4,536 1 3 Total impaired loans with a valuation allowance 3,089 17,806 4 19 Total impaired loans $ 13,775 $ 34,233 $ 81 $ 199 Average Carrying Amount Interest Income Recognized Nine Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Impaired loans without a valuation allowance: Residential real estate $ 4,112 $ 5,101 $ 92 $ 87 Commercial real estate 4,701 9,638 155 159 Commercial business 1,368 2,028 19 231 Consumer — 4 — — Total impaired loans without a valuation allowance 10,181 16,771 266 477 Impaired loans with a valuation allowance: Residential real estate $ — $ 2,250 $ — $ 14 Commercial real estate 778 11,047 5 69 Commercial business 2,738 3,283 8 27 Total impaired loans with a valuation allowance 3,516 16,580 13 110 Total impaired loans $ 13,697 $ 33,351 $ 279 $ 587
Schedule of loans whose terms were modified as TDRs during the periods	The following table provides information on loans that were modified as TDRs during the periods indicated. Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2019 2018 2019 2018 2019 2018 Three Months Ended September 30, Commercial real estate — 1 $ — $ 608 $ — — $ 608 Total — 1 $ — $ 608 $ — $ 608 Outstanding Recorded Investment Number of Loans Pre-Modification Post-Modification (Dollars in thousands) 2019 2018 2019 2018 2019 2018 Nine Months Ended September 30, Residential real estate 1 2 $ 34 $ 2,826 $ 34 $ 2,822 Commercial business 2 1 465 37 465 29 Commercial real estate — 1 — 608 — — 608 Total 3 4 $ 499 $ 3,471 $ 499 $ 3,459
Schedule of information on how loans were modified as a TDR	The following table provides information on how loans were modified as TDRs during the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Payment concession $ — $ — $ — $ 2,101 Maturity concession — — 125 — Maturity and payment concession — — — 750 Maturity and rate concession — 608 — 608 Rate and payment concession — — 374 — Total $ — $ 608 $ 499 $ 3,459

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component	The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax for the three and nine months ended September 30, 2019 and 2018 : Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at June 30, 2019 $ 670 $ (7,595 ) $ (6,925 ) Other comprehensive income (loss) before reclassifications, net of tax 279 (4,555 ) (4,276 ) Net other comprehensive income (loss) 279 (4,555 ) (4,276 ) Balance at September 30, 2019 $ 949 $ (12,150 ) $ (11,201 ) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at June 30, 2018 $ (1,764 ) $ 3,043 $ 1,279 Other comprehensive (loss) income before reclassifications, net of tax (508 ) 1,409 901 Net other comprehensive (loss) income (508 ) 1,409 901 Balance at September 30, 2018 $ (2,272 ) $ 4,452 $ 2,180 Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2018 $ (1,379 ) $ 342 $ (1,037 ) Other comprehensive income (loss) before reclassifications, net of tax 2,388 (12,492 ) (10,104 ) Amounts reclassified from accumulated other comprehensive income, net of tax (60 ) — (60 ) Net other comprehensive income (loss) 2,328 (12,492 ) (10,164 ) Balance at September 30, 2019 $ 949 $ (12,150 ) $ (11,201 ) Net Unrealized Gain (Loss) on Available for Sale Securities Net Unrealized Gain (Loss) on Interest Rate Swaps Total (In thousands) Balance at December 31, 2017 $ 85 $ 1,609 $ 1,694 Other comprehensive (loss) income before reclassifications, net of tax (2,182 ) 2,843 661 Amounts reclassified from accumulated other comprehensive income, net of tax (175 ) — (175 ) Net other comprehensive (loss) income (2,357 ) 2,843 486 Balance at September 30, 2018 $ (2,272 ) $ 4,452 $ 2,180
Schedule of reclassified from accumulated other comprehensive income or loss	The following table provides information for the items reclassified from accumulated other comprehensive income or loss: Accumulated Other Comprehensive Income Components Three Months Ended September 30, Nine Months Ended September 30, Associated Line Item in the Consolidated Statements of Income 2019 2018 2019 2018 (In thousands) Available for sale securities: Unrealized gains on investments $ — $ — $ 76 $ 222 Net gain on sale of available for sale securities Tax expense — — (16 ) (47 ) Income tax expense Net of tax $ — $ — $ 60 $ 175

Earnings per Share ("EPS") (Tab

Earnings per Share ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding	The following table is a reconciliation of earnings available to common shareholders and basic weighted average common shares outstanding to diluted weighted average common shares outstanding, reflecting the application of the two-class method: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 4,088 $ 4,857 $ 14,744 $ 14,172 Dividends to participating securities (1) (12 ) (13 ) (35 ) (39 ) Undistributed earnings allocated to participating securities (1) (35 ) (52 ) (135 ) (153 ) Net income for earnings per share calculation $ 4,041 $ 4,792 $ 14,574 $ 13,980 Weighted average shares outstanding, basic 7,750 7,738 7,761 7,713 Effect of dilutive equity-based awards (2) 16 26 28 46 Weighted average shares outstanding, diluted 7,766 7,764 7,789 7,759 Net earnings per common share: Basic earnings per common share $ 0.52 $ 0.62 $ 1.88 $ 1.81 Diluted earnings per common share $ 0.52 $ 0.62 $ 1.87 $ 1.80 (1) Represents dividends paid and undistributed earnings allocated to unvested stock-based awards that contain non-forfeitable rights to dividends. (2) Represents the effect of the assumed exercise of stock options and the vesting of restricted shares, as applicable, utilizing the treasury stock method.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Sep. 30, 2019
Banking and Thrift [Abstract]
Schedule of capital amounts and ratios	The capital amounts and ratios for the Bank and the Company at September 30, 2019 and December 31, 2018 were as follows: Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank September 30, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 203,119 12.65 % $ 112,392 7.00 % $ 104,364 6.50 % Total Capital to Risk-Weighted Assets 216,331 13.47 % 168,589 10.50 % 160,561 10.00 % Tier I Capital to Risk-Weighted Assets 203,119 12.65 % 136,476 8.50 % 128,448 8.00 % Tier I Capital to Average Assets 203,119 10.88 % 74,676 4.00 % 93,345 5.00 % Bankwell Financial Group, Inc. September 30, 2019 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 184,441 11.47 % $ 112,590 7.00 % N/A N/A Total Capital to Risk-Weighted Assets 222,847 13.85 % 168,885 10.50 % N/A N/A Tier I Capital to Risk-Weighted Assets 184,441 11.47 % 136,716 8.50 % N/A N/A Tier I Capital to Average Assets 184,441 9.86 % 74,787 4.00 % N/A N/A Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer Minimum Regulatory Capital to be Well Capitalized Under Prompt Corrective Action Provisions Actual Capital (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Bankwell Bank December 31, 2018 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 191,128 11.56 % $ 105,392 6.38 % $ 107,459 6.50 % Total Capital to Risk-Weighted Assets 206,593 12.50 % 163,255 9.88 % 165,321 10.00 % Tier I Capital to Risk-Weighted Assets 191,128 11.56 % 130,190 7.88 % 132,257 8.00 % Tier I Capital to Average Assets 191,128 10.14 % 75,432 4.00 % 94,290 5.00 % Bankwell Financial Group, Inc. December 31, 2018 Common Equity Tier 1 Capital to Risk-Weighted Assets $ 172,415 10.41 % $ 105,575 6.38 % N/A N/A Total Capital to Risk-Weighted Assets 213,035 12.86 % 163,537 9.88 % N/A N/A Tier I Capital to Risk-Weighted Assets 172,415 10.41 % 130,416 7.88 % N/A N/A Tier I Capital to Average Assets 172,415 9.13 % 75,567 4.00 % N/A N/A

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Schedule of status of outstanding stock options	A summary of the status of outstanding stock options for the nine months ended September 30, 2019 is presented below: Nine Months Ended September 30, 2019 Number of Shares Weighted Average Exercise Price Options outstanding at beginning of period 19,030 $ 15.91 Exercised (2,350 ) 13.14 Options outstanding at end of period 16,680 16.30 Options exercisable at end of period 16,680 16.30
Schedule of activity for restricted stock	The following table presents the activity for restricted stock for the nine months ended September 30, 2019 : Nine Months Ended September 30, 2019 Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of period 77,624 (1) $ 30.78 Granted 34,450 (2) 29.69 Vested (19,801 ) 30.23 Forfeited (3,800 ) 22.82 Unvested at end of period 88,473 30.82 (1) Includes 11,250 shares of performance based restricted stock (2) Includes 7,500 shares of performance based restricted stock

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	Information about derivative instruments at September 30, 2019 and December 31, 2018 is as follows: September 30, 2019: (Dollars in thousands) Notional Amount Original Maturity Received Paid Fair Value Asset (Liability) Derivatives designated as hedging instruments: Interest rate swap $ 25,000 5.0 years 3-month USD LIBOR 1.83% $ 17 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.48% 81 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.22% 186 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% (668 ) Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% (674 ) Interest rate swap 25,000 15.0 years 3-month USD LIBOR 3.01% (4,593 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.03% (4,861 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.05% (4,869 ) $ 200,000 $ (15,381 ) Derivatives not designated as hedging instruments: (2) Interest rate swap $ 20,000 20.0 years 1-month USD LIBOR 5.00% $ (2,702 ) Interest rate swap 20,000 20.0 years 1-month USD LIBOR 5.00% 2,702 $ 40,000 $ — Total derivatives $ 240,000 $ (15,381 ) (1) The effective date of the forward-starting interest rate swaps listed above are January 2, 2020 and August 26, 2020, respectively. (2) Represents an interest rate swap with a commercial banking customer, which is offset by a derivative with a third party. December 31, 2018: (Dollars in thousands) Notional Amount Original Maturity Received Paid Fair Value Asset (Liability) Cash flow hedge: Interest rate swap $ 25,000 4.7 years 3-month USD LIBOR 1.62% $ 1 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.83% 220 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.48% 475 Interest rate swap 25,000 5.0 years 3-month USD LIBOR 1.22% 828 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% 675 Interest rate swap 25,000 7.0 years 3-month USD LIBOR 2.04% 668 Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.01% (807 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.03% (819 ) Forward-starting interest rate swap (1) 25,000 15.0 years 3-month USD LIBOR 3.05% (811 ) $ 225,000 $ 430 (1) The effective date of the forward-starting interest rate swaps listed above are January 2, 2019, January 2, 2020 and August 26, 2020, respectively.
Schedule of interest rate swap transactions	The Company's cash flow hedge positions consist of interest rate swap transactions as detailed in the table below: Notional Amount Original Effective Date of Hedged Borrowing Duration of Borrowing Counterparty (Dollars in Thousands) $ 25,000 January 2, 2015 5.0 years Bank of Montreal 25,000 August 26, 2015 5.0 years Bank of Montreal 25,000 July 1, 2016 5.0 years Bank of Montreal 25,000 August 25, 2017 7.0 years Bank of Montreal 25,000 August 25, 2017 7.0 years FTN Financial Capital Markets 25,000 January 2, 2019 15.0 years Bank of Montreal $ 150,000
Schedule of changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows	Changes in the consolidated statements of comprehensive income related to interest rate derivatives designated as hedges of cash flows were as follows for the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Interest rate swap on FHLB advances and brokered deposits: Unrealized (losses) gains recognized in accumulated other comprehensive income $ (5,766 ) $ 1,784 $ (15,811 ) $ 3,599 Income tax benefit (expense) on items recognized in accumulated other comprehensive income 1,211 (375 ) 3,319 (756 ) Other comprehensive (loss) income $ (4,555 ) $ 1,409 $ (12,492 ) $ 2,843 Amount recognized in interest expense on hedged FHLB advances and brokered deposits $ 742 $ 653 $ 2,202 $ 1,939

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of carrying values and fair values of the Company s financial instruments	The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at September 30, 2019 and December 31, 2018 were as follows: September 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 83,109 $ 83,109 $ 83,109 $ — $ — Marketable equity securities 2,120 2,120 2,120 — — Available for sale securities 86,017 86,017 10,022 75,995 — Held to maturity securities 17,365 19,758 — 1,086 18,672 Loans receivable, net 1,548,988 1,562,471 — — 1,562,471 Accrued interest receivable 5,916 5,916 — 5,916 — FHLB stock 7,475 7,475 — 7,475 — Servicing asset, net of valuation allowance 946 946 — — 946 Derivative asset 2,986 2,986 — 2,986 — Financial Liabilities: Noninterest bearing deposits $ 178,733 $ 178,733 $ — $ 178,733 $ — NOW and money market 471,893 471,893 — 471,893 — Savings 176,232 176,232 — 176,232 — Time deposits 643,426 649,182 — — 649,182 Accrued interest payable 1,577 1,577 — 1,577 — Advances from the FHLB 150,000 149,994 — — 149,994 Subordinated debentures 25,194 25,526 — — 25,526 Servicing liability 65 65 — — 65 Derivative liability 18,367 18,367 — 18,367 — December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 (In thousands) Financial Assets: Cash and due from banks $ 75,411 $ 75,411 $ 75,411 $ — $ — Federal funds sold 2,701 2,701 2,701 — — Marketable equity securities 2,009 2,009 2,009 — — Available for sale securities 93,154 93,154 9,798 83,356 — Held to maturity securities 21,421 21,988 — 1,098 20,890 Loans receivable, net 1,586,775 1,584,858 — — 1,584,858 Accrued interest receivable 6,375 6,375 — 6,375 — FHLB stock 8,110 8,110 — 8,110 — Servicing asset, net of valuation allowance 870 870 — — 870 Derivative asset 2,867 2,867 — 2,867 — Financial Liabilities: Noninterest bearing deposits $ 173,198 $ 173,198 $ — $ 173,198 $ — NOW and money market 533,837 533,837 — 533,837 — Savings 180,487 180,487 — 180,487 — Time deposits 614,722 616,973 — — 616,973 Accrued interest payable 1,381 1,381 — 1,381 — Advances from the FHLB 160,000 159,753 — — 159,753 Subordinated debentures 25,155 24,211 — — 24,211 Servicing liability 73 73 — — 73 Derivative liability 2,437 2,437 — 2,437 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of financial instruments carried at fair value on a recurring basis	The following table details the financial instruments carried at fair value on a recurring basis at September 30, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the nine months ended September 30, 2019 and for the year ended December 31, 2018 . Fair Value (In thousands) Level 1 Level 2 Level 3 September 30, 2019: Marketable equity securities $ 2,120 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 10,022 75,995 — Derivative asset — 2,986 — Derivative liability — 18,367 — December 31, 2018: Marketable equity securities $ 2,009 $ — $ — Available for sale investment securities: U.S. Government and agency obligations 9,798 72,338 — State agency and municipal obligations — 4,007 — Corporate bonds — 7,011 — Derivative asset — 2,867 — Derivative liability — 2,437 —
Schedule of financial instruments carried at fair value on a nonrecurring basis	The following table details the financial instruments measured at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value (In thousands) Level 1 Level 2 Level 3 September 30, 2019: Impaired loans $ — $ — $ 13,407 Servicing asset, net — — 881 December 31, 2018: Impaired loans $ — $ — $ 18,709 Servicing asset, net — — 797
Schedule of quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis	The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at September 30, 2019 and December 31, 2018 : Fair Value Valuation Methodology Unobservable Input Range (Dollars in thousands) September 30, 2019: Impaired loans $ 5,896 Appraisals Discount to appraised value 8.00 - 28.00% 7,511 Discounted cash flows Discount rate 3.60 - 7.00% $ 13,407 Servicing asset, net $ 881 Discounted cash flows Discount rate 10.00 - 11.00% (1) Prepayment rate 3.00 - 19.00% December 31, 2018: Impaired loans $ 10,188 Appraisals Discount to appraised value 5.00 - 8.00% 8,521 Discounted cash flows Discount rate 3.25 - 8.00% $ 18,709 Servicing asset, net $ 797 Discounted cash flows Discount rate 10.00 - 12.00% (2) Prepayment rate 3.00 - 15.00% (1) Servicing liabilities totaling $65 thousand were valued using a discount rate of 1.4% (2) Servicing liabilities totaling $73 thousand were valued using a discount rate of

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of future minimum lease payments	Future minimum lease payments as of September 30, 2019 are as follows: September 30, 2019 (In thousands) 2019 $ 512 2020 1,901 2021 1,796 2022 1,164 2023 1,171 Thereafter 18,713 Total $ 25,257 A reconciliation of the undiscounted cash flows in the maturity table above and the lease liability recognized in the consolidated balance sheet as of September 30, 2019 , is shown below: September 30, 2019 (In thousands) Undiscounted cash flows $ 25,257 Discount effect of cash flows (15,056 ) Lease liability $ 10,201

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Retained Earnings Adjustments
Right of use asset	$ 10,100
Operating lease liability	$ 10,201
Weighted average discount rate (percent)		6.00%
ASU 2016-02
Retained Earnings Adjustments
ASU 2016-02 transition adjustment, net of tax		$ 481
Right of use asset		10,600
Operating lease liability		10,600
ASU 2016-02 | Retained Earnings
Retained Earnings Adjustments
ASU 2016-02 transition adjustment, net of tax		$ 481

Investment Securities - Summary

Investment Securities - Summary of amortized cost, gross unrealized gains and losses and fair values of available for sale and held to maturity securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Held to maturity securities:
Amortized cost	$ 17,365	$ 21,421
Gross unrealized gains	2,397	680
Gross unrealized losses	(4)	(113)
Fair value	19,758	21,988
Available for sale securities:
Amortized cost	84,816	94,899
Gross unrealized gains	1,211	43
Gross unrealized losses	(10)	(1,788)
Available for sale securities	86,017	93,154
U.S. Government and agency obligations
Available for sale securities:
Amortized cost, less than one year	2,100	1,000
Gross unrealized gains, less than one year	0	0
Gross unrealized losses, less than one year	(4)	(11)
Fair value, less than one year	2,096	989
Amortized cost, due from one through five years	10,944	12,025
Gross unrealized gains, due from one through five years	78	0
Gross unrealized losses, due from one through five years	(5)	(161)
Fair value, due from one through five years	11,017	11,864
Amortized cost, due from five through ten years	8,354	100
Gross unrealized gains, due from five through ten years	385	0
Gross unrealized losses, due from five through ten years	(1)	(5)
Fair value, due from five through ten years	8,738	95
Amortized cost, due after ten years	63,418	70,690
Gross unrealized gains, due after ten years	748	7
Gross unrealized losses, due after ten years	0	(1,509)
Fair value, due after ten years	64,166	69,188
Amortized cost		83,815
Gross unrealized gains		7
Gross unrealized losses		(1,686)
Available for sale securities		82,136
State agency and municipal obligations
Held to maturity securities:
Amortized cost, due after ten years	16,284	16,434
Gross unrealized gains, due after ten years	2,388	669
Gross unrealized losses, due after ten years	0	(113)
Fair Value, due after ten years	18,672	16,990
Amortized cost, due in less than one year		3,894
Gross unrealized gains, due in less than one year		6
Gross unrealized losses, due in less than one year		0
Fair Value, due in less than one year		3,900
Amortized cost		20,328
Gross unrealized gains		675
Gross unrealized losses		(113)
Fair value		20,890
Available for sale securities:
Amortized cost, due from one through five years		2,234
Gross unrealized gains, due from one through five years		18
Gross unrealized losses, due from one through five years		0
Fair value, due from one through five years		2,252
Amortized cost, due from five through ten years		1,261
Gross unrealized gains, due from five through ten years		18
Gross unrealized losses, due from five through ten years		0
Fair value, due from five through ten years		1,279
Amortized cost, due after ten years		528
Gross unrealized gains, due after ten years		0
Gross unrealized losses, due after ten years		(52)
Fair value, due after ten years		476
Amortized cost		4,023
Gross unrealized gains		36
Gross unrealized losses		(52)
Available for sale securities		4,007
Corporate bonds
Held to maturity securities:
Amortized cost, due in less than one year	1,000	1,000
Gross unrealized gains, due in less than one year	0	0
Gross unrealized losses, due in less than one year	(4)	0
Fair Value, due in less than one year	996	1,000
Available for sale securities:
Amortized cost, due from one through five years		7,061
Gross unrealized gains, due from one through five years		0
Gross unrealized losses, due from one through five years		(50)
Fair value, due from one through five years		7,011
No contractual maturity
Held to maturity securities:
Amortized cost, no contractual maturity	81	93
Gross unrealized gains, no contractual maturity	9	5
Gross unrealized losses, no contractual maturity	0	0
Fair Value, no contractual maturity	$ 90	$ 98

Investment Securities - Informa

Investment Securities - Information regarding investment securities with unrealized losses, aggregated by investment category and length of time that individual securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Length of Time in Continuous Unrealized Loss Position
Less than 12 months - Fair Value	$ 1,095	$ 15,235
Less than 12 months - Unrealized Loss	$ (5)	$ (162)
Less than 12 months - Percent Decline from Amortized Cost	0.38%	1.05%
12 Months or More - Fair Value	$ 3,090	$ 78,130
12 Months or More - Unrealized Loss	$ (9)	$ (1,739)
12 Months or More - Percent Decline from Amortized Cost	0.31%	2.18%
Fair Value - Total	$ 4,185	$ 93,365
Unrealized Loss - Total	$ (14)	$ (1,901)
Percent Decline from Amortized Cost - Total	0.32%	2.00%
U.S. Government and agency obligations
Length of Time in Continuous Unrealized Loss Position
Less than 12 months - Fair Value	$ 99	$ 4,990
Less than 12 months - Unrealized Loss	$ (1)	$ (38)
Less than 12 months - Percent Decline from Amortized Cost	0.41%	0.75%
12 Months or More - Fair Value	$ 3,090	$ 72,676
12 Months or More - Unrealized Loss	$ (9)	$ (1,648)
12 Months or More - Percent Decline from Amortized Cost	0.31%	2.22%
Fair Value - Total	$ 3,189	$ 77,666
Unrealized Loss - Total	$ (10)	$ (1,686)
Percent Decline from Amortized Cost - Total	0.31%	2.12%
State agency and municipal obligations
Length of Time in Continuous Unrealized Loss Position
Less than 12 months - Fair Value		$ 8,212
Less than 12 months - Unrealized Loss		$ (113)
Less than 12 months - Percent Decline from Amortized Cost		1.36%
12 Months or More - Fair Value		$ 476
12 Months or More - Unrealized Loss		$ (52)
12 Months or More - Percent Decline from Amortized Cost		9.87%
Fair Value - Total		$ 8,688
Unrealized Loss - Total		$ (165)
Percent Decline from Amortized Cost - Total		1.87%
Corporate bonds
Length of Time in Continuous Unrealized Loss Position
Less than 12 months - Fair Value	$ 996	$ 2,033
Less than 12 months - Unrealized Loss	$ (4)	$ (11)
Less than 12 months - Percent Decline from Amortized Cost	0.38%	0.51%
12 Months or More - Fair Value	$ 0	$ 4,978
12 Months or More - Unrealized Loss	$ 0	$ (39)
12 Months or More - Percent Decline from Amortized Cost	0.00%	0.78%
Fair Value - Total	$ 996	$ 7,011
Unrealized Loss - Total	$ (4)	$ (50)
Percent Decline from Amortized Cost - Total	0.38%	0.70%

Investment Securities - Narrati

Investment Securities - Narratives (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Security	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Security	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)Security
Investments, Debt and Equity Securities [Abstract]
Available for sale debt securities, realized gain	$ 0	$ 0	$ 76,000	$ 222,000
Available for sale debt securities, realized loss			17,000	2,000
Proceeds from sales of securities	0	$ 0	15,500,000	$ 12,400,000
Marketable equity securities, at fair value	2,120,000		2,120,000		$ 2,009,000
Marketable equity securities at amortized cost	$ 2,000,000		$ 2,000,000		$ 2,000,000
Number of available for sales debt securities in continuous loss position (positions) | Security	6		6		25

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Loan Losses - Summary of loan portfolio (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure
Total loans	$ 1,564,332		$ 1,604,726
Allowance for loan losses	(13,212)	$ (13,890)	(15,462)	$ (19,311)	$ (19,006)	$ (18,904)
Deferred loan origination fees, net	(2,135)		(2,497)
Unamortized loan premiums	3		8
Loans receivable, net	1,548,988		1,586,775
Real estate loan
Loans and Leases Receivable Disclosure
Total loans	1,345,927		1,345,336
Residential
Loans and Leases Receivable Disclosure
Total loans	159,193		178,079
Allowance for loan losses	(791)	(923)	(857)	(1,083)	(750)	(1,721)
Commercial
Loans and Leases Receivable Disclosure
Total loans	1,096,856		1,094,066
Allowance for loan losses	(10,094)	(9,910)	(11,562)	(14,071)	(14,185)	(12,777)
Construction
Loans and Leases Receivable Disclosure
Total loans	89,878		73,191
Allowance for loan losses	(261)	(259)	(140)	(359)	(481)	(907)
Commercial business
Loans and Leases Receivable Disclosure
Total loans	218,145		258,978
Allowance for loan losses	(2,065)	(2,797)	(2,902)	(3,797)	(3,589)	(3,498)
Consumer
Loans and Leases Receivable Disclosure
Total loans	260		412
Allowance for loan losses	(1)	$ (1)	(1)	$ (1)	$ (1)	$ (1)
Real estate | Residential
Loans and Leases Receivable Disclosure
Total loans	159,193		178,079
Real estate | Commercial
Loans and Leases Receivable Disclosure
Total loans	$ 1,096,856		$ 1,094,066

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Loan Losses - Narratives (Details)	9 Months Ended
	Sep. 30, 2019USD ($)Loan	Sep. 30, 2018USD ($)Loan	Dec. 31, 2018USD ($)Loan
Loans and Leases Receivable Disclosure
Percentage of market value of the collateral	80.00%
Private mortgage percentage of appraised value property	80.00%
Maximum percent of the loan in comparison with original appraised value of the property	80.00%
Loans delinquent greater than 90 days	$ 0		$ 0
Income contractually due but not recognized on originated nonaccrual loans	500,000	$ 600,000
Actual interest income recognized	44,000	$ 90,000
Non-accrual loans with no allowance for loans losses	7,000,000		11,500,000
Recorded investment in TDR	$ 4,400,000		$ 7,200,000
Number of nonaccrual loans identified as TDRs | Loan	2		6
TDR on non accrual status	$ 1,300,000		$ 3,600,000
Number of loans re-defaulted | Loan	2	1
Total recorded investment	$ 1,300,000	$ 2,000,000
Real estate | Residential mortgage
Loans and Leases Receivable Disclosure
Private mortgage percentage of appraised value property	80.00%
Real estate | Home equity
Loans and Leases Receivable Disclosure
Private mortgage percentage of appraised value property	80.00%

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Loan Losses - Summary of allowance for loan losses by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Allowance for Loan and Lease Losses
Beginning balance	$ 13,890	$ 19,006	$ 15,462	$ 18,904
Charge-offs	(1,477)	(18)	(2,423)	(248)
Recoveries	26	1	46	10
(Credit) Provisions	773	322	127	645
Ending balance	13,212	19,311	13,212	19,311
Residential Real Estate
Allowance for Loan and Lease Losses
Beginning balance	923	750	857	1,721
Charge-offs	(78)	(16)	(875)	(72)
Recoveries	0	0	0	0
(Credit) Provisions	(54)	349	809	(566)
Ending balance	791	1,083	791	1,083
Commercial Real Estate
Allowance for Loan and Lease Losses
Beginning balance	9,910	14,185	11,562	12,777
Charge-offs	(594)	0	(594)	(18)
Recoveries	0	0	0	0
(Credit) Provisions	778	(114)	(874)	1,312
Ending balance	10,094	14,071	10,094	14,071
Construction
Allowance for Loan and Lease Losses
Beginning balance	259	481	140	907
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
(Credit) Provisions	2	(122)	121	(548)
Ending balance	261	359	261	359
Commercial Business
Allowance for Loan and Lease Losses
Beginning balance	2,797	3,589	2,902	3,498
Charge-offs	(748)	0	(884)	(96)
Recoveries	2	0	18	4
(Credit) Provisions	14	208	29	391
Ending balance	2,065	3,797	2,065	3,797
Consumer
Allowance for Loan and Lease Losses
Beginning balance	1	1	1	1
Charge-offs	(57)	(2)	(70)	(62)
Recoveries	24	1	28	6
(Credit) Provisions	33	1	42	56
Ending balance	$ 1	$ 1	$ 1	$ 1

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Loan Losses - Summary by portfolio segment and impairment methodology, of the allowance for loan losses and related portfolio (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	$ 13,660		$ 19,075
Loans individually evaluated for impairment, Allowance	253		366
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,550,672		1,585,651
Loans collectively evaluated for impairment, Allowance	12,959		15,096
Total Loans	1,564,332		1,604,726
Total Allowance	13,212	$ 13,890	15,462	$ 19,311	$ 19,006	$ 18,904
Residential Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	4,056		6,534
Loans individually evaluated for impairment, Allowance	0		233
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	155,137		171,545
Loans collectively evaluated for impairment, Allowance	791		624
Total Loans	159,193		178,079
Total Allowance	791	923	857	1,083	750	1,721
Commercial Real Estate
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	6,062		6,383
Loans individually evaluated for impairment, Allowance	109		0
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	1,090,794		1,087,683
Loans collectively evaluated for impairment, Allowance	9,985		11,562
Total Loans	1,096,856		1,094,066
Total Allowance	10,094	9,910	11,562	14,071	14,185	12,777
Construction
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	89,878		73,191
Loans collectively evaluated for impairment, Allowance	261		140
Total Loans	89,878		73,191
Total Allowance	261	259	140	359	481	907
Commercial business
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio	3,542		6,155
Loans individually evaluated for impairment, Allowance	144		133
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	214,603		252,823
Loans collectively evaluated for impairment, Allowance	1,921		2,769
Total Loans	218,145		258,978
Total Allowance	2,065	2,797	2,902	3,797	3,589	3,498
Consumer
Loans individually evaluated for impairment:
Loans individually evaluated for impairment, Portfolio			3
Loans individually evaluated for impairment, Allowance			0
Loans collectively evaluated for impairment:
Loans collectively evaluated for impairment, Portfolio	260		409
Loans collectively evaluated for impairment, Allowance	1		1
Total Loans	260		412
Total Allowance	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Loan Losses - Summary of credit risk ratings by loan segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment
Total loans	$ 1,564,332	$ 1,604,726
Commercial Real Estate
Financing Receivable, Recorded Investment
Total loans	1,096,856	1,094,066
Construction
Financing Receivable, Recorded Investment
Total loans	89,878	73,191
Commercial business
Financing Receivable, Recorded Investment
Total loans	218,145	258,978
Residential Real Estate
Financing Receivable, Recorded Investment
Total loans	159,193	178,079
Consumer
Financing Receivable, Recorded Investment
Total loans	260	412
Commercial Credit Quality Indicators
Financing Receivable, Recorded Investment
Total loans	1,404,879	1,426,235
Commercial Credit Quality Indicators | Pass
Financing Receivable, Recorded Investment
Total loans	1,351,481	1,395,819
Commercial Credit Quality Indicators | Special Mention
Financing Receivable, Recorded Investment
Total loans	43,794	17,878
Commercial Credit Quality Indicators | Substandard
Financing Receivable, Recorded Investment
Total loans	6,980	5,108
Commercial Credit Quality Indicators | Doubtful
Financing Receivable, Recorded Investment
Total loans	2,624	7,430
Commercial Credit Quality Indicators | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Commercial Real Estate
Financing Receivable, Recorded Investment
Total loans	1,096,856	1,094,066
Commercial Credit Quality Indicators | Commercial Real Estate | Pass
Financing Receivable, Recorded Investment
Total loans	1,072,187	1,084,695
Commercial Credit Quality Indicators | Commercial Real Estate | Special Mention
Financing Receivable, Recorded Investment
Total loans	18,607	2,988
Commercial Credit Quality Indicators | Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment
Total loans	6,062	2,516
Commercial Credit Quality Indicators | Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment
Total loans	0	3,867
Commercial Credit Quality Indicators | Commercial Real Estate | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction
Financing Receivable, Recorded Investment
Total loans	89,878	73,191
Commercial Credit Quality Indicators | Construction | Pass
Financing Receivable, Recorded Investment
Total loans	89,878	73,191
Commercial Credit Quality Indicators | Construction | Special Mention
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction | Substandard
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction | Doubtful
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Construction | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Commercial Credit Quality Indicators | Commercial business
Financing Receivable, Recorded Investment
Total loans	218,145	258,978
Commercial Credit Quality Indicators | Commercial business | Pass
Financing Receivable, Recorded Investment
Total loans	189,416	237,933
Commercial Credit Quality Indicators | Commercial business | Special Mention
Financing Receivable, Recorded Investment
Total loans	25,187	14,890
Commercial Credit Quality Indicators | Commercial business | Substandard
Financing Receivable, Recorded Investment
Total loans	918	2,592
Commercial Credit Quality Indicators | Commercial business | Doubtful
Financing Receivable, Recorded Investment
Total loans	2,624	3,563
Commercial Credit Quality Indicators | Commercial business | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators
Financing Receivable, Recorded Investment
Total loans	159,453	178,491
Residential and Consumer Credit Quality Indicators | Pass
Financing Receivable, Recorded Investment
Total loans	155,267	171,824
Residential and Consumer Credit Quality Indicators | Special Mention
Financing Receivable, Recorded Investment
Total loans	130	130
Residential and Consumer Credit Quality Indicators | Substandard
Financing Receivable, Recorded Investment
Total loans	3,868	6,537
Residential and Consumer Credit Quality Indicators | Doubtful
Financing Receivable, Recorded Investment
Total loans	188	0
Residential and Consumer Credit Quality Indicators | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Residential Real Estate
Financing Receivable, Recorded Investment
Total loans	159,193	178,079
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Pass
Financing Receivable, Recorded Investment
Total loans	155,007	171,415
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Special Mention
Financing Receivable, Recorded Investment
Total loans	130	130
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Substandard
Financing Receivable, Recorded Investment
Total loans	3,868	6,534
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Doubtful
Financing Receivable, Recorded Investment
Total loans	188	0
Residential and Consumer Credit Quality Indicators | Residential Real Estate | Loss
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer
Financing Receivable, Recorded Investment
Total loans	260	412
Residential and Consumer Credit Quality Indicators | Consumer | Pass
Financing Receivable, Recorded Investment
Total loans	260	409
Residential and Consumer Credit Quality Indicators | Consumer | Special Mention
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer | Substandard
Financing Receivable, Recorded Investment
Total loans	0	3
Residential and Consumer Credit Quality Indicators | Consumer | Doubtful
Financing Receivable, Recorded Investment
Total loans	0	0
Residential and Consumer Credit Quality Indicators | Consumer | Loss
Financing Receivable, Recorded Investment
Total loans	$ 0	$ 0

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Loan Losses - Summary of loan portfolio delinquencies by portfolio segment and amount (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due
Total Past Due	$ 17,167	$ 12,461
Current	1,547,165	1,592,265
Total Loans	1,564,332	1,604,726
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,080	1,662
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	9,053	134
90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	5,034	10,665
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,501	3,197
Current	157,692	174,882
Total Loans	159,193	178,079
Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,070	994
Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	150	0
Residential Real Estate | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	281	2,203
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due
Total Past Due	11,176	5,187
Current	1,085,680	1,088,879
Total Loans	1,096,856	1,094,066
Commercial Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	494	668
Commercial Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	8,530	133
Commercial Real Estate | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	2,152	4,386
Construction
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,358	0
Current	88,520	73,191
Total Loans	89,878	73,191
Construction | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,358	0
Construction | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	0	0
Construction | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	0	0
Commercial business
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,132	4,077
Current	215,013	254,901
Total Loans	218,145	258,978
Commercial business | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	158	0
Commercial business | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	373	1
Commercial business | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	2,601	4,076
Consumer
Financing Receivable, Recorded Investment, Past Due
Total Past Due	0	0
Current	260	412
Total Loans	260	412
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	0	0
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	0	0
Consumer | 90 Days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	$ 0	$ 0

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Loan Losses - Summary of nonaccrual loans by portfolio segment (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	$ 9,878	$ 14,082
Residential Real Estate
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	1,583	3,812
Commercial Real Estate
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	5,332	5,950
Commercial business
Financing Receivable, Recorded Investment, Past Due
Total nonaccrual loans	$ 2,963	$ 4,320

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Loan Losses - Summary of impaired loans (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Impaired loans without a valuation allowance:
Carrying Amount	$ 10,592	$ 16,118
Unpaid Principal Balance	11,543	22,858
Impaired loans with a valuation allowance:
Carrying Amount	3,068	2,957
Unpaid Principal Balance	3,689	2,999
Associated Allowance	253	366
Total impaired loans
Carrying Amount	13,660	19,075
Unpaid Principal Balance	15,232	25,857
Associated Allowance	253	366
Residential Real Estate
Impaired loans without a valuation allowance:
Carrying Amount	4,056	4,520
Unpaid Principal Balance	4,169	4,613
Impaired loans with a valuation allowance:
Carrying Amount	0	2,014
Unpaid Principal Balance	0	2,054
Associated Allowance	0	233
Total impaired loans
Associated Allowance	0	233
Commercial Real Estate
Impaired loans without a valuation allowance:
Carrying Amount	5,308	6,383
Unpaid Principal Balance	5,562	12,191
Impaired loans with a valuation allowance:
Carrying Amount	754	0
Unpaid Principal Balance	763	0
Associated Allowance	109	0
Total impaired loans
Associated Allowance	109	0
Commercial business
Impaired loans without a valuation allowance:
Carrying Amount	1,228	5,212
Unpaid Principal Balance	1,812	6,051
Impaired loans with a valuation allowance:
Carrying Amount	2,314	943
Unpaid Principal Balance	2,926	945
Associated Allowance	144	133
Total impaired loans
Associated Allowance	144	133
Consumer
Impaired loans without a valuation allowance:
Carrying Amount	0	3
Unpaid Principal Balance	$ 0	$ 3

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Loan Losses - Summary of average recorded investment balance of impaired loans and interest income recognized on impaired loans by portfolio segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Impaired loans without a valuation allowance:
Average Carrying Amount	$ 10,686	$ 16,427	$ 10,181	$ 16,771
Interest Income Recognized	77	180	266	477
Impaired loans with a valuation allowance:
Average Carrying Amount	3,089	17,806	3,516	16,580
Interest Income Recognized	4	19	13	110
Total impaired loans
Average Carrying Amount	13,775	34,233	13,697	33,351
Interest Income Recognized	81	199	279	587
Residential Real Estate
Impaired loans without a valuation allowance:
Average Carrying Amount	4,076	4,932	4,112	5,101
Interest Income Recognized	31	24	92	87
Impaired loans with a valuation allowance:
Average Carrying Amount	0	2,237	0	2,250
Interest Income Recognized	0	0	0	14
Commercial Real Estate
Impaired loans without a valuation allowance:
Average Carrying Amount	5,357	9,530	4,701	9,638
Interest Income Recognized	39	79	155	159
Impaired loans with a valuation allowance:
Average Carrying Amount	766	11,033	778	11,047
Interest Income Recognized	3	16	5	69
Commercial business
Impaired loans without a valuation allowance:
Average Carrying Amount	1,253	1,961	1,368	2,028
Interest Income Recognized	7	77	19	231
Impaired loans with a valuation allowance:
Average Carrying Amount	2,323	4,536	2,738	3,283
Interest Income Recognized	1	3	8	27
Consumer
Impaired loans without a valuation allowance:
Average Carrying Amount	0	4	0	4
Interest Income Recognized	$ 0	$ 0	$ 0	$ 0

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Loan Losses - Summary of loans whose terms were modified as TDRs (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Loan	Sep. 30, 2018USD ($)Loan	Sep. 30, 2019USD ($)Loan	Sep. 30, 2018USD ($)Loan
Financing Receivable, Modifications
Number of TDR loans modified | Loan	0	1	3	4
Outstanding recorded investment - pre-modification	$ 0	$ 608	$ 499	$ 3,471
Outstanding recorded investment - post-modification	$ 0	$ 608	$ 499	$ 3,459
Residential Real Estate
Financing Receivable, Modifications
Number of TDR loans modified | Loan			1	2
Outstanding recorded investment - pre-modification			$ 34	$ 2,826
Outstanding recorded investment - post-modification			$ 34	$ 2,822
Commercial business
Financing Receivable, Modifications
Number of TDR loans modified | Loan			2	1
Outstanding recorded investment - pre-modification			$ 465	$ 37
Outstanding recorded investment - post-modification			$ 465	$ 29
Commercial Real Estate
Financing Receivable, Modifications
Number of TDR loans modified | Loan	0	1	0	1
Outstanding recorded investment - pre-modification	$ 0	$ 608	$ 0	$ 608
Outstanding recorded investment - post-modification	$ 0	$ 608	$ 0	$ 608

Loans Receivable and Allowan_13

Loans Receivable and Allowance for Loan Losses - Summary of loans were modified as TDR (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	$ 0	$ 608	$ 499	$ 3,459
Payment concession
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	0	0	0	2,101
Maturity concession
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	0	0	125	0
Maturity and payment concession
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	0	0	0	750
Maturity and rate concession
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	0	608	0	608
Rate and payment concession
Financing Receivable, Modifications
Outstanding recorded investment - post-modification	$ 0	$ 0	$ 374	$ 0

Shareholders' Equity - Common s

Shareholders' Equity - Common stock (Details) - shares	Sep. 30, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Common stock, shares authorized (shares)	10,000,000	10,000,000
Common stock, shares outstanding (shares)	7,841,103	7,842,271
Common stock, shares issued (shares)	7,841,103	7,842,271

Shareholders' Equity - Warrants

Shareholders' Equity - Warrants (Details) - Quinnipiac Bank and Trust Company	Oct. 01, 2014$ / sharesshares
Stockholders Equity Note
Number of warrants issued (shares)	68,600
Number of common stock shares purchased under each warrant (shares)	0.56
Exercise price of warrant (in dollars per share) | $ / shares	$ 17.86

Shareholders' Equity - Issuer p

Shareholders' Equity - Issuer purchases of equity securities (Details) - $ / shares	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 19, 2018
Stockholders Equity Note
Authorized shares for repurchase (shares)				400,000
Shares repurchased (shares)		34,168	0
Common Stock
Stockholders Equity Note
Shares repurchased (shares)	34,168
Weighted average share repurchased (in dollars per share)		$ 28.87

Comprehensive Income - Summary

Comprehensive Income - Summary of changes in accumulated other comprehensive income (loss) by component, net of tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income Loss
Beginning balance	$ 176,940	$ 169,573	$ 174,196	$ 161,027
Other comprehensive (loss) income before reclassifications, net of tax	(4,276)	901	(10,104)	661
Amounts reclassified from accumulated other comprehensive income, net of tax			(60)	(175)
Total other comprehensive (loss) income, net of tax	(4,276)	901	(10,164)	486
Ending balance	176,012	174,754	176,012	174,754
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income Loss
Beginning balance	(6,925)	1,279	(1,037)	1,694
Total other comprehensive (loss) income, net of tax	(4,276)	901	(10,164)	486
Ending balance	(11,201)	2,180	(11,201)	2,180
Net Unrealized Gain (Loss) on Available for Sale Securities
Accumulated Other Comprehensive Income Loss
Beginning balance	670	(1,764)	(1,379)	85
Other comprehensive (loss) income before reclassifications, net of tax	279	(508)	2,388	(2,182)
Amounts reclassified from accumulated other comprehensive income, net of tax			(60)	(175)
Total other comprehensive (loss) income, net of tax	279	(508)	2,328	(2,357)
Ending balance	949	(2,272)	949	(2,272)
Net Unrealized Gain (Loss) on Interest Rate Swaps
Accumulated Other Comprehensive Income Loss
Beginning balance	(7,595)	3,043	342	1,609
Other comprehensive (loss) income before reclassifications, net of tax	(4,555)	1,409	(12,492)	2,843
Amounts reclassified from accumulated other comprehensive income, net of tax			0	0
Total other comprehensive (loss) income, net of tax	(4,555)	1,409	(12,492)	2,843
Ending balance	$ (12,150)	$ 4,452	$ (12,150)	$ 4,452

Comprehensive Income - Summar_2

Comprehensive Income - Summary of reclassified from accumulated other comprehensive income or loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Available for sale securities:
Net gain on sale of available for sale securities	$ 279	$ (508)	$ 2,328	$ (2,357)
Tax expense	(1,030)	(1,056)	(3,802)	(3,504)
Net income	4,088	4,857	14,744	14,172
Net Unrealized Gain (Loss) on Available for Sale Securities | Amount Reclassified from Accumulated Other Comprehensive Income
Available for sale securities:
Net gain on sale of available for sale securities	0	0	76	222
Tax expense	0	0	(16)	(47)
Net income	$ 0	$ 0	$ 60	$ 175

Earnings per Share ("EPS") - Re

Earnings per Share ("EPS") - Reconciliation of earnings available to common stockholders and basic weighted-average common shares outstanding to diluted weighted average common shares outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 4,088	$ 4,857	$ 14,744	$ 14,172
Dividends to participating securities	(12)	(13)	(35)	(39)
Undistributed earnings allocated to participating securities	(35)	(52)	(135)	(153)
Net income for earnings per share calculation	$ 4,041	$ 4,792	$ 14,574	$ 13,980
Weighted average shares outstanding, basic (in shares)	7,750,490	7,738,343	7,761,441	7,712,924
Effect of dilutive equity-based awards (in shares)	16,000	26,000	28,000	46,000
Weighted average shares outstanding, diluted (in shares)	7,766,485	7,763,935	7,788,839	7,758,762
Net earnings per common share:
Basic earnings per common share (in dollars per share)	$ 0.52	$ 0.62	$ 1.88	$ 1.81
Diluted earnings per common share (in dollars per share)	$ 0.52	$ 0.62	$ 1.87	$ 1.80

Regulatory Matters - Capital am

Regulatory Matters - Capital amounts and ratios for Bank (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Actual Capital, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 203,119	$ 191,128
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	216,331	206,593
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	203,119	191,128
Tier I Capital to Average Assets, Actual Capital, Amount	$ 203,119	$ 191,128
Actual Capital, Ratio
Common Equity Tier 1 capital requirement	12.65%	11.56%
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	13.47%	12.50%
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	12.65%	11.56%
Tier I Capital to Average Assets, Actual Capital, Ratio	10.88%	10.14%
Minimum Regulatory Capital Required for Capital Adequacy Plus Capital Conservation Buffer, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 112,392	$ 105,392
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	168,589	163,255
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	136,476	130,190
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 74,676	$ 75,432
Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	7.00%	6.38%
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	10.50%	9.88%
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	8.50%	7.88%
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	4.00%	4.00%
Minimum Regulatory Capital To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 104,364	$ 107,459
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	160,561	165,321
Tier I Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	128,448	132,257
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 93,345	$ 94,290
Minimum Regulatory Capital To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%
Total Capital to Risk-Weighted Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	10.00%	10.00%
Tier I Capital to Risk-Weighted Assets To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	8.00%	8.00%
Tier I Capital to Average Assets, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	5.00%	5.00%
Bankwell Financial Group Inc.
Actual Capital, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Actual Capital, Amount	$ 184,441	$ 172,415
Total Capital to Risk-Weighted Assets, Actual Capital, Amount	222,847	213,035
Tier I Capital to Risk-Weighted Assets, Actual Capital, Amount	184,441	172,415
Tier I Capital to Average Assets, Actual Capital, Amount	$ 184,441	$ 172,415
Actual Capital, Ratio
Common Equity Tier 1 capital requirement	11.47%	10.41%
Total Capital to Risk-Weighted Assets, Actual Capital, Ratio	13.85%	12.86%
Tier I Capital to Risk-Weighted Assets, Actual Capital, Ratio	11.47%	10.41%
Tier I Capital to Average Assets, Actual Capital, Ratio	9.86%	9.13%
Minimum Regulatory Capital Required for Capital Adequacy Plus Capital Conservation Buffer, Amount
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 112,590	$ 105,575
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	168,885	163,537
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	136,716	130,416
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Amount	$ 74,787	$ 75,567
Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio
Common Equity Tier 1 Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	7.00%	6.38%
Total Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	10.50%	9.88%
Tier I Capital to Risk-Weighted Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	8.50%	7.88%
Tier I Capital to Average Assets, Minimum Regulatory Capital Required for Capital Adequacy plus Capital Conservation Buffer, Ratio	4.00%	4.00%

Regulatory Matters - Narratives

Regulatory Matters - Narratives (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets requirement (percent)	12.65%		11.56%
Total capital to risk-weighted assets requirement (percent)	8.00%		8.00%
Percentage of higher risk weight (percent)	150.00%
Risk weight of marketable equity securities (percent)	300.00%
Required minimum conservation buffer (percent)		2.50%	1.875%
Federal Reserve Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Minimum reserve balance	$ 12.3		$ 16.8
Atlantic Community Bankers Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Minimum reserve balance	$ 4.5		$ 4.5
Minimum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital requirement of risk-weighted assets (percent)	4.50%
Leverage ratio (percent)	4.00%
Tier 1 capital to risk-weighted assets requirement (percent)	4.00%
Percentage of capital ratio	1.00%
Regulatory risk based capital conservation buffer (percent)	2.50%
Maximum
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 capital to risk-weighted assets requirement (percent)	6.00%
Percentage of capital ratio	2.00%

Stock-Based Compensation - Outs

Stock-Based Compensation - Outstanding share options (Details) - Employee Stock Options	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Number of Shares
Options outstanding at beginning of period (shares) | shares	19,030
Exercised (shares) | shares	(2,350)
Options outstanding at end of period (shares) | shares	16,680
Options exercisable at end of period (shares) | shares	16,680
Weighted Average Exercise Price
Options outstanding at beginning of period (usd per share) | $ / shares	$ 15.91
Exercised (usd per share) | $ / shares	13.14
Options outstanding at end of period (usd per share) | $ / shares	16.30
Options exercisable at end of period (usd per share) | $ / shares	$ 16.30

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity for restricted stock (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Number of Shares
Unvested at beginning of period (shares) | shares	77,624
Granted (shares) | shares	34,450
Vested (shares) | shares	(19,801)
Forfeited (shares) | shares	(3,800)
Unvested at end of period (shares) | shares	88,473
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) | $ / shares	$ 30.78
Granted (in dollars per share) | $ / shares	29.69
Vested (in dollars per share) | $ / shares	30.23
Forfeited (in dollars per share) | $ / shares	22.82
Unvested at end of period (in dollars per share) | $ / shares	$ 30.82

Stock-Based Compensation - Narr

Stock-Based Compensation - Narratives (Details) $ / shares in Units, $ in Thousands	Mar. 18, 2019shares	Feb. 20, 2018shares	Sep. 30, 2019USD ($)Plan$ / sharesshares	Sep. 30, 2018USD ($)	Dec. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period (shares)			88,473		77,624
Share based payment award shares issued (shares)			34,450
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of share options exercised | $			$ 40
Exercise price of exercisable shares (shares)			16,680
Exercise price lower range limit (in dollars per share) | $ / shares			$ 11
Exercise price upper range limit (in dollars per share) | $ / shares			$ 17.86
Exercisable shares (term)			2 years 9 months
Intrinsic value of exercisable shares | $			$ 200
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of awards other than options | $			600
Share based compensation expenses | $			800	$ 1,000
Unrecognized stock compensation expense for restricted stock | $			$ 2,000
Weighted average period for recognition of compensation expense for restricted stock			1 year 7 months
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			1 year
Percentage of grant as share quantity for which performance metric is met			0.00%
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			5 years
Percentage of grant as share quantity for which performance metric is met			200.00%
Performance based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period (shares)					11,250
Share based payment award shares issued (shares)	7,500		7,500
BNC Financial Group Inc Stock Option 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity award plans | Plan			3
Number of common stock reserved for issuance (shares)			672,832
BNC Financial Group Inc Stock Option 2012 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period			3 years
Share based payment award shares issued (shares)		11,250

Derivative Instruments - Narrat

Derivative Instruments - Narratives (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)instrument	Dec. 31, 2018USD ($)
Derivatives
Notional amount of interest rate swap	$ 240,000
Rolling period of federal home loan bank advances converted to fixed rates	90 days
Accrued interest excluded from derivative fair value	$ 100	$ 200
Accrued interest included in derivative fair value	15,300	$ 700
Amount of cash flow hedge gain expected to be reclassified to interest expense in the next 12 months	$ 500
Interest rate swap
Derivatives
Number of derivatives instruments held (instruments) | instrument	6
Notional amount of interest rate swap	$ 25,000
Derivatives not designated as hedging instruments
Derivatives
Notional amount of interest rate swap	$ 40,000
Derivatives not designated as hedging instruments | Interest rate swap
Derivatives
Number of derivatives instruments held (instruments) | instrument	2

Derivative Instruments - Inform

Derivative Instruments - Information about derivative instruments (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Derivatives
Notional Amount	$ 240,000
Fair Value Asset (Liability), Net	(15,381)
Interest rate swap
Derivatives
Notional Amount	25,000
Derivatives designated as hedging instruments: | Cash Flow Hedging
Derivatives
Notional Amount	200,000	$ 225,000
Fair Value Asset (Liability), Net	(15,381)	430
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap 1.83%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	5 years	5 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	1.83%	1.83%
Derivative asset fair value	$ 17	$ 220
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap 1.48%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	5 years	5 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	1.48%	1.48%
Derivative asset fair value	$ 81	$ 475
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap 1.22%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	5 years	5 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	1.22%	1.22%
Derivative asset fair value	$ 186	$ 828
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap 2.04%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	7 years	7 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	2.04%	2.04%
Derivative asset fair value		$ 675
Derivative liability fair value	$ (668)
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap 2.04% (2)
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	7 years	7 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	2.04%	2.04%
Derivative asset fair value		$ 668
Derivative liability fair value	$ (674)
Derivatives designated as hedging instruments: | Cash Flow Hedging | Forward-starting interest rate swap 3.01%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	15 years	15 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	3.01%	3.01%
Derivative liability fair value	$ (4,593)	$ (807)
Derivatives designated as hedging instruments: | Cash Flow Hedging | Forward-starting interest rate swap 3.03%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	15 years	15 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	3.03%	3.03%
Derivative liability fair value	$ (4,861)	$ (819)
Derivatives designated as hedging instruments: | Cash Flow Hedging | Forward-starting interest rate swap 3.05%
Derivatives
Notional Amount	$ 25,000	$ 25,000
Original Maturity	15 years	15 years
Received	3-month USD LIBOR	3-month USD LIBOR
Paid (Interest Rate)	3.05%	3.05%
Derivative liability fair value	$ (4,869)	$ (811)
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap
Derivatives
Notional Amount		$ 25,000
Original Maturity		4 years 8 months 12 days
Received		3-month USD LIBOR
Paid (Interest Rate)		1.62%
Derivative asset fair value		$ 1
Derivatives not designated as hedging instruments
Derivatives
Notional Amount	40,000
Fair Value Asset (Liability), Net	0
Derivatives not designated as hedging instruments | Interest rate swap 5.00%
Derivatives
Notional Amount	$ 20,000
Original Maturity	20 years
Received	1-month USD LIBOR
Paid (Interest Rate)	5.00%
Derivative liability fair value	$ (2,702)
Derivatives not designated as hedging instruments | Interest rate swap 5.00% (2)
Derivatives
Notional Amount	$ 20,000
Original Maturity	20 years
Received	1-month USD LIBOR
Paid (Interest Rate)	5.00%
Derivative asset fair value	$ 2,702

Derivative Instruments - Forwar

Derivative Instruments - Forward starting interest rate swap transactions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Derivatives
Notional Amount	$ 240,000
Interest rate swap
Derivatives
Notional Amount	25,000
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap
Derivatives
Notional Amount	150,000
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | January 2, 2015
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	5 years
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | August 26, 2015
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	5 years
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | July 1, 2016
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	5 years
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | August 25, 2017
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	7 years
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | August 25, 2017
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	7 years
Cash Flow Hedging | FHLB 90-day advance | Interest rate swap | January 2, 2019
Derivatives
Notional Amount	$ 25,000
Duration of Borrowing	15 years

Derivative Instruments - Change

Derivative Instruments - Changes in consolidated statements of comprehensive income related to interest rate derivatives (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest rate swap on FHLB advances and brokered deposits:
Unrealized (losses) gains recognized in accumulated other comprehensive income	$ (5,766)	$ 1,784	$ (15,811)	$ 3,599
Income tax benefit (expense) on items recognized in accumulated other comprehensive income	1,211	(375)	3,319	(756)
Other comprehensive (loss) income	(4,555)	1,409	(12,492)	2,843
Amount recognized in interest expense on hedged FHLB advances and brokered deposits	$ 742	$ 653	$ 2,202	$ 1,939

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Carrying values and fair values of financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial Assets:
Federal funds sold	$ 0	$ 2,701
Marketable equity securities	2,120	2,009
Available for sale securities	86,017	93,154
Held to maturity securities	17,365	21,421
Level 1
Financial Assets:
Cash and due from banks	83,109	75,411
Federal funds sold		2,701
Marketable equity securities	2,120	2,009
Available for sale securities	10,022	9,798
Held to maturity securities	0	0
Loans receivable, net	0	0
Accrued interest receivable	0	0
FHLB stock	0	0
Servicing asset, net of valuation allowance	0	0
Derivative asset	0	0
Financial Liabilities:
Noninterest bearing deposits	0	0
NOW and money market	0	0
Savings	0	0
Time deposits	0	0
Accrued interest payable	0	0
Advances from the FHLB	0	0
Subordinated debentures	0	0
Servicing liability	0	0
Derivative liability	0	0
Level 2
Financial Assets:
Cash and due from banks	0	0
Federal funds sold		0
Marketable equity securities	0	0
Available for sale securities	75,995	83,356
Held to maturity securities	1,086	1,098
Loans receivable, net	0	0
Accrued interest receivable	5,916	6,375
FHLB stock	7,475	8,110
Servicing asset, net of valuation allowance	0	0
Derivative asset	2,986	2,867
Financial Liabilities:
Noninterest bearing deposits	178,733	173,198
NOW and money market	471,893	533,837
Savings	176,232	180,487
Time deposits	0	0
Accrued interest payable	1,577	1,381
Advances from the FHLB	0	0
Subordinated debentures	0	0
Servicing liability	0	0
Derivative liability	18,367	2,437
Level 3
Financial Assets:
Cash and due from banks	0	0
Federal funds sold		0
Marketable equity securities	0	0
Available for sale securities	0	0
Held to maturity securities	18,672	20,890
Loans receivable, net	1,562,471	1,584,858
Accrued interest receivable	0	0
FHLB stock	0	0
Servicing asset, net of valuation allowance	946	870
Derivative asset	0	0
Financial Liabilities:
Noninterest bearing deposits	0	0
NOW and money market	0	0
Savings	0	0
Time deposits	649,182	616,973
Accrued interest payable	0	0
Advances from the FHLB	149,994	159,753
Subordinated debentures	25,526	24,211
Servicing liability	65	73
Derivative liability	0	0
Carrying Value
Financial Assets:
Cash and due from banks	83,109	75,411
Federal funds sold		2,701
Marketable equity securities	2,120	2,009
Available for sale securities	86,017	93,154
Held to maturity securities	17,365	21,421
Loans receivable, net	1,548,988	1,586,775
Accrued interest receivable	5,916	6,375
FHLB stock	7,475	8,110
Servicing asset, net of valuation allowance	946	870
Derivative asset	2,986	2,867
Financial Liabilities:
Noninterest bearing deposits	178,733	173,198
NOW and money market	471,893	533,837
Savings	176,232	180,487
Time deposits	643,426	614,722
Accrued interest payable	1,577	1,381
Advances from the FHLB	150,000	160,000
Subordinated debentures	25,194	25,155
Servicing liability	65	73
Derivative liability	18,367	2,437
Fair Value
Financial Assets:
Cash and due from banks	83,109	75,411
Federal funds sold		2,701
Marketable equity securities	2,120	2,009
Available for sale securities	86,017	93,154
Held to maturity securities	19,758	21,988
Loans receivable, net	1,562,471	1,584,858
Accrued interest receivable	5,916	6,375
FHLB stock	7,475	8,110
Servicing asset, net of valuation allowance	946	870
Derivative asset	2,986	2,867
Financial Liabilities:
Noninterest bearing deposits	178,733	173,198
NOW and money market	471,893	533,837
Savings	176,232	180,487
Time deposits	649,182	616,973
Accrued interest payable	1,577	1,381
Advances from the FHLB	149,994	159,753
Subordinated debentures	25,526	24,211
Servicing liability	65	73
Derivative liability	$ 18,367	$ 2,437

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narratives (Details) - Discount rate	Sep. 30, 2019	Dec. 31, 2018
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities, measurement input	0.036	0.047
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt securities, measurement input	0.040	0.051

Fair Value Measurements - Finan

Fair Value Measurements - Financial instruments carried at fair value on recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	$ 2,120	$ 2,009
Available for sale securities	86,017	93,154
U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		82,136
State agency and municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		4,007
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	2,120	2,009
Available for sale securities	10,022	9,798
Derivative asset	0	0
Derivative liability	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Available for sale securities	75,995	83,356
Derivative asset	2,986	2,867
Derivative liability	18,367	2,437
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Available for sale securities	0	0
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	2,120	2,009
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 1 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	10,022	9,798
Fair Value Measurements Recurring | Level 1 | State agency and municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		0
Fair Value Measurements Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		0
Fair Value Measurements Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Derivative asset	2,986	2,867
Derivative liability	18,367	2,437
Fair Value Measurements Recurring | Level 2 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	75,995	72,338
Fair Value Measurements Recurring | Level 2 | State agency and municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		4,007
Fair Value Measurements Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		7,011
Fair Value Measurements Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Marketable equity securities	0	0
Derivative asset	0	0
Derivative liability	0	0
Fair Value Measurements Recurring | Level 3 | U.S. Government and agency obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities	$ 0	0
Fair Value Measurements Recurring | Level 3 | State agency and municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		0
Fair Value Measurements Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Available for sale securities		$ 0

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial instruments carried at fair value on nonrecurring basis (Details) - Fair Value Measurements Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 0	$ 0
Servicing asset, net	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	0	0
Servicing asset, net	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	13,407	18,709
Servicing asset, net	$ 881	$ 797

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on nonrecurring basis (Details) $ in Thousands	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability	$ 65	$ 73
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability	65	73
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability	65	73
Fair Value Measurements Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	13,407	18,709
Servicing asset, net	881	797
Fair Value Measurements Nonrecurring | Level 3 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	13,407	18,709
Servicing asset, net	$ 881	$ 797
Fair Value Measurements Nonrecurring | Level 3 | Discount rate | Fair Value | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing liability, measurement input (percent)	0.014	0.028
Fair Value Measurements Nonrecurring | Level 3 | Discount rate | Fair Value | Minimum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.1000	0.1000
Fair Value Measurements Nonrecurring | Level 3 | Discount rate | Fair Value | Maximum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.1100	0.1200
Fair Value Measurements Nonrecurring | Level 3 | Prepayment rate | Fair Value | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.0300	0.0300
Fair Value Measurements Nonrecurring | Level 3 | Prepayment rate | Fair Value | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Servicing asset, measurement input (percent)	0.1900	0.1500
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Fair Value | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 5,896	$ 10,188
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Fair Value | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 7,511	$ 8,521
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Appraised value | Minimum | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0800	0.0500
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Appraised value | Maximum | Appraisals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.2800	0.0800
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount rate | Minimum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0360	0.0325
Fair Value Measurements Nonrecurring | Level 3 | Impaired loans | Discount rate | Maximum | Discounted cash flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loan, measurement input (percent)	0.0700	0.0800

Narratives (Detail)

Narratives (Detail) - Fixed rated subordinated notes	Aug. 19, 2015USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 25,500,000
Notes non-callable term (in years)	5 years
Stated maturity date of notes	Aug. 15, 2025
Quarterly pay fixed interest rate of notes	5.75%

Leases - Narratives (Details)

Leases - Narratives (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)Branch	Sep. 30, 2019USD ($)Branch	Jan. 01, 2019
Lessee, Lease, Description
Branches under operating lease agreement | Branch	10	10
Weighted average remaining lease term	6 years 8 months 1 day	6 years 8 months 1 day
Weighted average discount rate (percent)			6.00%
Operating lease cost	$ 500	$ 1,500
Right of use asset	10,100	10,100
Operating lease liability	$ 10,201	$ 10,201
Land
Lessee, Lease, Description
Remaining lease term		80 years 9 months 18 days

Leases - Future minimum lease p

Leases - Future minimum lease payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Lease Liabilities, Payments Due
2019	$ 512
2020	1,901
2021	1,796
2022	1,164
2023	1,171
Thereafter	18,713
Total	25,257
Discount effect of cash flows	(15,056)
Lease liability	$ 10,201

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Oct. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event
Dividends per common share (in dollars per share)		$ 0.13	$ 0.12	$ 0.39	$ 0.36
Subsequent Event
Subsequent Event
Dividends per common share (in dollars per share)	$ 0.13