Beneficial Bancorp 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 28, 2016
Document and Entity Information
Entity Registrant Name	Beneficial Bancorp Inc.
Entity Central Index Key	1,615,418
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		75,426,531
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
CASH AND CASH EQUIVALENTS:
Cash and due from banks	$ 40,381	$ 43,978
Overnight Investments	71,384	189,942
Total cash and cash equivalents	111,765	233,920
INVESTMENT SECURITIES:
Available-for-sale, at fair value (amortized cost of $570,785 and $650,439 at March 31, 2016 and December 31, 2015, respectively)	582,402	655,162
Held-to-maturity (estimated fair value of $683,884 and $695,290 at March 31, 2016 and December 31, 2015, respectively)	673,222	696,310
Federal Home Loan Bank stock, at cost	8,786	8,786
Total investment securities	1,264,410	1,360,258
LOANS:	3,151,785	2,941,446
Allowance for loan losses	(45,234)	(45,500)
Net loans	3,106,551	2,895,946
ACCRUED INTEREST RECEIVABLE	14,794	14,298
BANK PREMISES AND EQUIPMENT, Net	72,465	73,213
OTHER ASSETS:
Goodwill	121,973	121,973
Bank owned life insurance	65,095	64,827
Other intangibles	3,915	4,389
Other assets	53,726	57,871
Total other assets	244,709	249,060
TOTAL ASSETS	4,814,694	4,826,695
Deposits:
Non-interest bearing deposits	409,716	409,232
Interest-bearing deposits	3,100,774	3,042,691
Total deposits	3,510,490	3,451,923
Borrowed funds	190,410	190,405
Other liabilities	67,206	68,821
Total liabilities	$ 3,768,106	$ 3,711,149
COMMITMENTS AND CONTINGENCIES (Note 15)
STOCKHOLDERS' EQUITY:
Preferred Stock - $.01 par value; 100,000,000 shares authorized, None issued or outstanding as of March 31, 2016 and December 31, 2015
Common Stock - $.01 par value 500,000,000 shares authorized, 83,089,369 and 82,949,191 issued and 76,741,577 and 82,918,595 outstanding, as of March 31, 2016 and December 31, 2015, respectively	$ 831	$ 829
Additional paid-in capital	789,978	787,503
Unearned common stock held by employee savings and stock ownership plan	(31,397)	(32,014)
Retained earnings (partially restricted)	387,974	382,951
Accumulated other comprehensive loss	(18,562)	(23,374)
Treasury Stock at cost, 6,347,792 shares and 30,596 shares at March 31, 2016 and December 31, 2015, respectively	(82,236)	(349)
Total stockholders' equity	1,046,588	1,115,546
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 4,814,694	$ 4,826,695

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Condensed Consolidated Statements of Financial Condition
Available-for-sale, amortized cost (in dollars)	$ 570,785	$ 650,439
Held-to-maturity, estimated fair value (in dollars)	$ 683,884	$ 695,290
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized	100,000,000	100,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	83,089,369	82,949,191
Common Stock, shares outstanding	76,741,577	82,918,595
Treasury Stock, shares	6,347,792	30,596

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
INTEREST INCOME:
Interest and fees on loans	$ 29,990	$ 26,266
Interest on overnight investments	259	269
Interest and dividends on investment securities:
Taxable	6,360	7,910
Tax-exempt	325	498
Total interest income	36,934	34,943
Interest on deposits:
Interest bearing checking accounts	466	423
Money market and savings deposits	1,322	1,307
Time deposits	1,628	1,833
Total	3,416	3,563
Interest on borrowed funds	1,278	1,247
Total interest expense	4,694	4,810
Net interest income	32,240	30,133
Provision for loan losses		(2,000)
Net interest income after provision for loan losses	32,240	32,133
NON-INTEREST INCOME:
Insurance and advisory commission and fee income	1,990	1,986
Service charges and other income	3,385	3,507
Mortgage banking (loss) income	(28)	127
Net loss on sale of investment securities	(4)	(5)
Total non-interest income	5,343	5,615
NON-INTEREST EXPENSE:
Salaries and employee benefits	15,817	15,492
Occupancy expense	2,293	2,797
Depreciation, amortization and maintenance	2,317	2,301
Marketing expense	913	1,316
Intangible amortization expense	474	466
FDIC insurance	553	548
Merger and restructuring charges	838
Professional fees	1,029	1,555
Classified loan and other real estate owned related expense	292	292
Other	5,807	5,724
Total non-interest expense	30,333	30,491
Income before income taxes	7,250	7,257
Income tax expense	2,227	2,006
NET INCOME	$ 5,023	$ 5,251
EARNINGS PER SHARE - Basic (in dollars per share)	$ 0.07	$ 0.07
EARNINGS PER SHARE - Diluted (in dollars per share)	$ 0.07	$ 0.07
Average common shares outstanding - Basic (in shares)	76,162,515	78,454,187
Average common shares outstanding - Diluted (in shares)	76,993,671	79,073,032

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income	$ 5,023	$ 5,251
Unrealized gains (losses) on securities:
Unrealized holding gains on available-for-sale securities arising during the period (net of deferred tax of $2,519 and $1,405 for the three months ended March 31, 2016 and 2015, respectively)	4,370	2,431
Accretion of unrealized losses on available-for-sale securities transferred to held-to-maturity (net of tax of $76 and $79 for the three months ended March 31, 2016 and 2015, respectively)	131	137
Reclassification adjustment for net losses on available-for-sale securities included in net income (net of tax of $1 and $2 for the three months ended March 31, 2016 and 2015, respectively)	3	3
Defined benefit pension plans:
Pension losses, other postretirement and postemployment benefit plan adjustments (net of tax of $232 and $231 for the three months ended March 31, 2016 and 2015, respectively)	308	345
Total other comprehensive income	4,812	2,916
Comprehensive income	$ 9,835	$ 8,167

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Unrealized holding gains on available-for-sale securities arising during the period, deferred tax	$ 2,519	$ 1,405
Accretion of unrealized losses on available-for-sale securities transferred to held-to-maturity, tax	76	79
Reclassification adjustment for net losses on available-for-sale securities included in net income, tax	1	2
Pension losses, other postretirement and postemployment benefit plan adjustments, tax	$ 232	$ 231

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid In Capital	Common Stock held by KSOP	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Total
BALANCE, beginning at Dec. 31, 2014						$ (22,663)
Increase (Decrease) in Stockholders' Equity
Net Income							$ 5,251
Net unrealized losses on AFS securities arising during the period (net of deferred tax of $2,519)							2,431
Accretion of unrealized losses on AFS securities transferred to HTM during the period (net of deferred tax of $76)						137	137
Reclassification adjustment for net losses on AFS securities included in net income (net of tax of $1)							3
Pension, other post retirement and postemployment benefit plan adjustments (net of tax of $232)							345
BALANCE, ending at Mar. 31, 2015						(19,747)
BALANCE, beginning at Dec. 31, 2015	$ 829	$ 787,503	$ (32,014)	$ 382,951	$ (349)	(23,374)	1,115,546
BALANCE, beginning (in shares) at Dec. 31, 2015	82,949,191
Increase (Decrease) in Stockholders' Equity
Net Income				5,023			5,023
KSOP shares committed to be released		238	617				855
Stock option expense		417					417
Restricted stock expense		413					413
Stock options exercised	$ 2	1,407					1,409
Stock options exercised (in shares)	140,178
Purchase of treasury stock					(81,887)		(81,887)
Net unrealized losses on AFS securities arising during the period (net of deferred tax of $2,519)						4,370	4,370
Accretion of unrealized losses on AFS securities transferred to HTM during the period (net of deferred tax of $76)						131	131
Reclassification adjustment for net losses on AFS securities included in net income (net of tax of $1)						3	3
Pension, other post retirement and postemployment benefit plan adjustments (net of tax of $232)						308	308
BALANCE, ending at Mar. 31, 2016	$ 831	$ 789,978	$ (31,397)	$ 387,974	$ (82,236)	$ (18,562)	$ 1,046,588
BALANCE, ending (in shares) at Mar. 31, 2016	83,089,369

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY
Net unrealized loss on AFS securities arising during the period, deferred tax	$ 2,519	$ 1,405
Accretion of unrealized losses on AFS securities transferred to HTM during the period, tax	76	79
Reclassification adjustment for net gains on AFS securities included in net income, tax	1	2
Pension, other postretirement and postemployment benefit plan adjustments, tax	$ 232	$ 231

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net Income	$ 5,023	$ 5,251
Adjustment to reconcile net income to net cash provided by operating activities:
Provision for loan losses		(2,000)
Depreciation and amortization	1,517	1,511
Intangible amortization	474	466
Net loss on sale of investments	4	5
Accretion of discount on investments	(74)	(148)
Amortization of premium on investments	1,444	1,443
Gain on sale of residential loans held for sale	(84)	(93)
Net loss from disposition of premises and equipment	46	5
Net gain on sale of other real estate	(53)	(98)
Amortization of KSOP	855	709
Increase in bank owned life insurance	(268)	(375)
Stock based compensation	830	710
Origination of loans held for sale	(2,891)	(5,637)
Proceeds from sale of loans	4,158	5,555
Changes in assets and liabilities:
Accrued interest receivable	(496)	(353)
Accrued interest payable	(281)	(162)
Income taxes payable	703	1,891
Other liabilities	(1,442)	215
Other assets	648	(5,752)
Net cash provided by operating activities	10,113	3,143
INVESTING ACTIVITIES:
Loans originated or acquired	(368,828)	(365,490)
Principal repayment on loans	156,673	121,826
Proceeds from maturities, calls or repayments of investment securities available for sale	87,355	36,161
Purchases of investment securities held to maturity		(53,071)
Proceeds from maturities, calls or repayments of investment securities held to maturity	22,625	22,640
Net purchases of money market and mutual funds	(8,406)	(8,325)
Proceeds from sale other real estate owned	868	383
Purchases of premises and equipment	(868)	(2,192)
Proceeds from sale of premises and equipment		17
Cash used in other investing activities	219	49
Net cash used in investing activities	(110,362)	(248,002)
FINANCING ACTIVITIES:
Increase in borrowed funds	5,008	6,000
Repayment of borrowed funds	(5,003)	(5,996)
Net increase in checking, savings and demand accounts	54,916	33,772
Net increase (decrease) in time deposits	3,651	(16,065)
Proceeds from the exercise of stock options	1,409	114
Purchase of treasury stock	(81,887)	(266)
Net cash (used in) provided by financing activities	(21,906)	17,559
NET DECREASE IN CASH AND CASH EQUIVALENTS	(122,155)	(227,300)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	233,920	534,015
CASH AND CASH EQUIVALENTS, END OF PERIOD	111,765	306,715
SUPPLEMENTAL DISCLOSURES OF CASH FLOW AND NON-CASH INFORMATION:
Cash payments for interest	4,975	4,972
Cash payments for income taxes	1,533	115
Transfers of loans to other real estate owned	$ 366	113
Issuance of common stock funded by stock subscriptions received prior to January 1, 2015, net of offering costs		$ 474,398

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto contained in the Annual Report on Form 10-K filed by Beneficial Bancorp, Inc. (the “Company” or “Beneficial”) with the U.S. Securities and Exchange Commission on February 26, 2016. The results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2016 or any other period. Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Specifically, the financial statements include the accounts of Beneficial Bank (the “Bank”), the Company’s wholly owned subsidiary, and the Bank’s wholly owned subsidiaries. The Bank’s wholly owned subsidiaries are: (i) Beneficial Advisors, LLC, which offers wealth management services and non-deposit investment products, (ii) Neumann Corporation, a Delaware corporation formed to manage certain investments, (iii) Beneficial Insurance Services, LLC, which provides insurance services to individual and business customers and (iv) Beneficial Equipment Finance Corporation (formerly BSB Union Corporation), an equipment leasing company. Additionally, the Company has subsidiaries that hold other real estate acquired in foreclosure or transferred from the real estate loan portfolio. All significant intercompany accounts and transactions have been eliminated. The various services and products support each other and are interrelated. Management makes significant operating decisions based upon the analysis of the entire Company and financial performance is evaluated on a company-wide basis. Accordingly, the various financial services and products offered are included in one reportable operating segment: community banking as outlined under guidance in the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC” or “codification”) Topic 280 for Segment Reporting. Use of Estimates in the Preparation of Financial Statements These unaudited interim condensed consolidated financial statements are prepared in conformity with GAAP. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Significant estimates include the allowance for loan losses, goodwill, other intangible assets, income taxes, postretirement benefits, and the fair value of investment securities. Actual results could differ from those estimates and assumptions.

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2016
NATURE OF OPERATIONS
NATURE OF OPERATIONS	NOTE 2 — NATURE OF OPERATIONS The Company is a Maryland corporation that was incorporated in August 2014 to be the successor to Beneficial Mutual Bancorp, Inc. (“Beneficial Mutual Bancorp”) upon completion of the second-step conversion of the Bank from the two-tier mutual holding company structure to the stock holding company structure. Beneficial Savings Bank MHC was the former mutual holding company for Beneficial Mutual Bancorp prior to completion of the second-step conversion. In conjunction with the second-step conversion, each of Beneficial Savings Bank MHC and Beneficial Mutual Bancorp ceased to exist. The second-step conversion was completed on January 12, 2015, at which time the Company sold, for gross proceeds of $503.8 million, a total of 50,383,817 shares of common stock at $10.00 per share, including 2,015,352 shares purchased by the Bank’s employee savings and stock ownership plan. As part of the second-step conversion, each of the existing 29,394,417 outstanding shares of Beneficial Mutual Bancorp common stock owned by persons other than Beneficial Savings Bank MHC was converted into 1.0999 of a share of Company common stock. The consolidated financial statements include the accounts of the Company, the Bank, a Pennsylvania chartered savings bank, and the Bank’s subsidiaries. The Company owns 100% of the issued and outstanding common stock of the Bank. The Bank offers a variety of consumer and commercial banking services to individuals, businesses, and nonprofit organizations through 67 offices throughout the Philadelphia and Southern New Jersey area. The Bank is supervised and regulated by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation (the “FDIC”). The Company is regulated by the Board of Governors of the Federal Reserve System. The deposits of the Bank are insured up to the applicable legal limits by the Deposit Insurance Fund of the FDIC.

CHANGES IN AND RECLASSIFICATION

CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2016
CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 3 — CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the changes in the balances of each component of accumulated other comprehensive income (“AOCI”) for the three months ended March 31, 2016 and March 31, 2015. All amounts are presented net of tax. Net unrealized holding gains on available-for-sale Defined benefit (Dollars in thousands) securities pension plan items Total Beginning balance, January 1, 2016 $ $ ) $ ) Changes in other comprehensive loss before reclassifications: Unrealized holding gains on AFS securities — Accretion of unrealized losses on AFS securities transferred to HTM — Amount reclassified from accumulated other comprehensive loss Net current-period other comprehensive income Ending balance, March 31, 2016 $ $ ) $ ) Net unrealized holding gains on available-for-sale Defined benefit (Dollars in thousands) securities pension plan items Total Beginning balance, January 1, 2015 $ $ ) $ ) Changes in other comprehensive loss before reclassifications: Unrealized holding gains on AFS securities — Accretion of unrealized losses on AFS securities transferred to HTM — Amount reclassified from accumulated other comprehensive loss Net current-period other comprehensive income Ending balance, March 31, 2015 $ $ ) $ ) The following tables present reclassifications out of AOCI by component for the three months ended March 31, 2016 and March 31, 2015: For the Three Months Ended March 31, 2016 (Dollars in thousands) Details about accumulated Amount reclassified Affected line item in other comprehensive loss from accumulated other the consolidated statements Components comprehensive loss of operations Unrealized gains and losses on available-for-sale securities $ Net loss on sale of investment securities ) Income tax benefit $ Net of tax Amortization of defined benefit pension items Prior service costs $ )(1) Other non-interest expense Net recognized actuarial losses (1) Other non-interest expense $ Total before tax ) Income tax benefit $ Net of tax (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. See Note 13 - Pension and Other Postretirement Benefits for additional details. For the Three Months Ended March 31, 2015 (Dollars in thousands) Details about accumulated Amount reclassified Affected line item in other comprehensive loss from accumulated other the consolidated statements components comprehensive loss of operations Unrealized gains and losses on available-for-sale securities $ Net loss on sale of investment securities ) Income tax benefit $ Net of tax Amortization of defined benefit pension items Prior service costs $ )(1) Other non-interest expense Net recognized actuarial losses (1) Other non-interest expense $ Total before tax ) Income tax benefit $ Net of tax (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. See Note 13 - Pension and Other Postretirement Benefits for additional details.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 4 — EARNINGS PER SHARE The following table presents a calculation of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015. Earnings per share is computed by dividing net income available to common shareholders by the weighted average number of shares of common stock outstanding. The difference between common shares issued and basic average common shares outstanding, for purposes of calculating basic earnings per share, is a result of subtracting unallocated employee stock ownership plan (“ESOP”) shares and unvested restricted stock shares. See Note 14 for further discussion of stock grants. Three Months Ended March 31, (Dollars in thousands, except share and per share amounts) 2016 2015 Basic and diluted earnings per share: Net income $ $ Basic average common shares outstanding Effect of dilutive securities Dilutive average shares outstanding Net earnings per share Basic $ $ Diluted $ $ Anti-dilutive shares are common stock equivalents with weighted average exercise prices in excess of the weighted average market value for the periods presented. For the three months ended March 31, 2016, there were 185,544 outstanding options that were anti-dilutive and therefore excluded from the earnings per share calculation. For the three months ended March 31, 2015, there were 230,700 restricted stock grants and 868,999 outstanding options that were anti-dilutive and therefore excluded from the earnings per share calculation.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2016
INVESTMENT SECURITIES.
INVESTMENT SECURITIES	NOTE 5 — INVESTMENT SECURITIES The amortized cost and estimated fair value of investments in debt and equity securities at March 31, 2016 and December 31, 2015 are as follows: March 31, 2016 Investment Securities Available-for-Sale Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value U.S. Government Sponsored Enterprise (“GSE”) and Agency Notes $ $ $ — $ Ginnie Mae guaranteed mortgage certificates — GSE mortgage-backed securities GSE collateralized mortgage obligations Municipal bonds — Corporate securities Money market and mutual funds — Total $ $ $ $ March 31, 2016 Investment Securities Held-to-Maturity Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value GSE mortgage-backed securities $ $ $ $ GSE collateralized mortgage obligations Municipal bonds — Foreign bonds — Total $ $ $ $ December 31, 2015 Investment Securities Available-for-Sale Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value U.S. Government Sponsored Enterprise (“GSE”) and Agency Notes $ $ $ — $ Ginnie Mae guaranteed mortgage certificates — GSE mortgage-backed securities Collateralized mortgage obligations Municipal bonds — Corporate Securities — Money market, mutual funds and certificates of deposit — Total $ $ $ $ December 31, 2015 Investment Securities Held-to-Maturity Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value GSE mortgage-backed securities $ $ $ $ Collateralized mortgage obligations Municipal bonds — Foreign bonds — Total $ $ $ $ During the three months ended March 31, 2016, the Bank sold $89 thousand of mutual funds that resulted in a loss of $4 thousand. The following tables provide information on the gross unrealized losses and fair market value of the Company’s investments with unrealized losses that are not deemed to be other than temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015: At March 31, 2016 Less than 12 months 12 months or longer Total Unrealized Unrealized Unrealized (Dollars in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage-backed securities $ $ $ $ $ $ Corporate Securities — — Collateralized mortgage obligations — — Subtotal, debt securities $ $ $ $ $ $ Mutual Funds — — Total temporarily impaired securities $ $ $ $ $ $ At December 31, 2015 Less than 12 months 12 months or longer Total Unrealized Unrealized Unrealized (Dollars in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage-backed securities $ $ $ $ $ $ Corporate Securities — — Collateralized mortgage obligations Subtotal, debt securities $ $ $ $ $ $ Mutual Funds — — Total temporarily impaired securities $ $ $ $ $ $ Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The Company determines whether the unrealized losses are temporary in accordance with guidance under FASB ASC Topic 320 for Investments - Debt and Equity Securities. The evaluation is based upon factors such as the creditworthiness of the issuers/guarantors, the underlying collateral, if applicable, and the continuing performance of the securities. Management also evaluates other facts and circumstances that may be indicative of an OTTI condition. This includes, but is not limited to, an evaluation of the type of security, length of time and extent to which the fair value has been less than cost, and near-term prospects of the issuer. The likelihood of recovering the Company’s investment, whether the Company has the intent to sell the investment or that it is more likely than not that the Company will be required to sell the investment before recovery is also used to determine the nature of the decline in market value of the securities. The Company records the credit portion of OTTI through earnings based on the credit impairment estimates generally derived from cash flow analyses. The remaining unrealized loss, due to factors other than credit, is recorded in other comprehensive income (“OCI”). The Company had an unrealized loss of $560 thousand related to its GSE mortgage-backed securities as of March 31, 2016. Additionally, the Company had an unrealized loss of $274 thousand on GSE collateralized mortgage obligations, an unrealized loss of $40 thousand on corporate securities and an unrealized loss of $18 thousand on mutual funds as of March 31, 2016. Mortgage-Backed Securities The Company’s investments that were in a loss position for greater than 12 months included GSE mortgage-backed securities with an unrealized loss of 0.5% as of March 31, 2016. The Company’s investments that were in a loss position for less than 12 months included GSE mortgage-backed securities with an unrealized loss of 0.3% as of March 31, 2016. The unrealized loss is due to current interest rate levels relative to the Company’s cost. Because the unrealized losses are due to current interest rate levels relative to the Company’s cost and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell these investments before recovery of its amortized cost, which may be at maturity, the Company does not consider these investments to be other-than temporarily impaired at March 31, 2016. Collateralized Mortgage Obligations (CMOs) The Company’s investments that were in a loss position for greater than 12 months included GSE CMOs with an unrealized loss of 0.8% as of March 31, 2016. The unrealized loss is due to current interest rate levels relative to the Company’s cost. Because the unrealized losses are due to current interest rate levels relative to the Company’s cost and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell these investments before recovery of its amortized cost, which may be at maturity, the Company does not consider these investments to be other-than temporarily impaired at March 31, 2016. Corporate Securities The Company’s investment that was in a loss position for less than 12 months included one investment-grade rated subordinated debt issued by a financial institution with an unrealized loss of 2.0% as of March 31, 2016. The unrealized loss is due to current interest rate levels relative to the Company’s cost. Because the unrealized losses are due to current interest rate levels relative to the Company’s cost and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell these investments before recovery of its amortized cost, which may be at maturity, the Company does not consider these investments to be other-than temporarily impaired at March 31, 2016. The following table sets forth the stated maturities of the investment securities at March 31, 2016 and December 31, 2015. Maturities for mortgage-backed securities are dependent upon the rate environment and prepayments of the underlying loans. For purposes of this table they are presented separately. March 31, 2016 December 31, 2015 Amortized Estimated Amortized Estimated (Dollars are in thousands) Cost Fair Value Cost Fair Value Available-for-sale: Due in one year or less $ — $ — $ — $ — Due after one year through five years Due after five years through ten years Due after ten years — — — — Mortgage-backed securities Money market and mutual funds Total $ $ $ $ Held-to-maturity: Due in one year or less $ $ $ $ Due after one year through five years Due after five years through ten years Due after ten years — — — — Mortgage-backed securities Total $ $ $ $ At March 31, 2016 and December 31, 2015, $75.6 million and $75.7 million, respectively, of securities were pledged to secure municipal deposits. At March 31, 2016 and December 31, 2015, the Company had $548 thousand and $458 thousand, respectively, of securities pledged as collateral on interest rate swaps.

LOANS

LOANS	3 Months Ended
	Mar. 31, 2016
LOANS.
LOANS	NOTE 6 — LOANS Loans at March 31, 2016 and December 31, 2015 are summarized as follows: (Dollars in thousands) March 31, 2016 December 31, 2015 Commercial: Commercial real estate $ $ Commercial business loans Commercial construction Total commercial loans Residential: Residential real estate Residential construction Total residential loans Consumer loans: Home equity & lines of credit Personal Education Automobile Total consumer loans Total loans Allowance for losses ) ) Loans, net $ $ During the three months ended March 31, 2016, the Company entered into $117.5 million of participations in a portfolio of multi-family loans that are included in commercial real estate loans. These loans all met the Company’s underwriting standards and are secured by real estate located within the Company’s market area. As of March 31, 2016, the Company had no loans held for sale compared to $1.2 million of residential loans held for sale at December 31, 2015. These loans are carried at the lower of cost or estimated fair value, on an aggregate basis. Loans held for sale are loans originated by the Bank to be sold to a third party who is under contractual obligation to purchase the loans from the Bank. For the three months ended March 31, 2016 and 2015, the Bank sold residential mortgage loans with an unpaid principal balance of approximately $4.1 million and $5.5 million, respectively, and recorded mortgage banking (loss) income of approximately $(28) thousand and $127 thousand, respectively. The mortgage banking loss during the three months ended March 31, 2016 was the result of a decrease in the fair value of mortgage servicing rights due to an increase in the constant prepayment assumption. Please refer to Note 18 — Mortgage Servicing Rights for additional information. The Bank retained the related servicing rights for the loans that were sold to Fannie Mae and receives a 25 basis point servicing fee from the purchaser of the loans. Commercial business loans include shared national credits, which are participations in loans or loan commitments of at least $20.0 million that are shared by three or more banks. Included in the shared national credit portfolio are purchased participations and assignments in leveraged lending transactions. Leveraged lending transactions are generally used to support a merger- or acquisition-related transaction, to back a recapitalization of a company’s balance sheet or to refinance debt. When considering a participation in the leveraged lending market, the Company will participate only in first lien senior secured term loans that are highly rated (investment grade) by the rating agencies and that trade in active secondary markets. The Company actively monitors the secondary market for these types of loans to ensure that it maintains flexibility to sell such loans in the event of deteriorating credit quality. To further minimize risk and based on our current capital levels and loan portfolio, the Company has limited the total amount of leveraged loans to $150.0 million with no single obligor exceeding $15.0 million while maintaining single industry concentrations below 30% of the leveraged lending limit. The Company may reevaluate these limits in future periods. The shared national credit loans are typically variable rate with terms ranging from one to seven years. At March 31, 2016, shared national credits totaled $227.2 million, which included $127.4 million of leveraged lending transactions. All of these loans were classified as pass rated as of March 31, 2016 as all payments are current and the loans are performing in accordance with their contractual terms. Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable losses inherent in the loan portfolio. The Company evaluates the appropriateness of the allowance for loan losses balance on loans on a quarterly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings and, when less allowances are necessary, a credit is taken. As of March 31, 2016, the Company’s methodology for assessing the appropriateness of the allowance for loan losses consists of (1) a specific valuation allowance on identified problem loans and (2) a general valuation allowance on the remainder of the loan portfolio. The appropriate allowance level is estimated based upon factors and trends identified by the Company at the time the consolidated financial statements are prepared. Management continuously evaluates its allowance methodology. The Company charges-off the collateral or discounted cash flow deficiency on all loans at 90 days past due, except government guaranteed student loans, and all loans rated substandard or worse that are 90 days past due. As a result, no specific valuation allowance was maintained at March 31, 2016 or December 31, 2015. The summary activity in the allowance for loan losses for all portfolios for the three months ended March 31, 2016 and 2015, and for the year ended December 31, 2015, is as follows: Three Months Ended Year Ended March 31, December 31, (Dollars in thousands) 2016 2015 2015 Balance, beginning of year $ $ Provision for loan losses — ) ) Charge-offs ) ) ) Recoveries Balance, end of period $ $ $ The following table sets forth the activity in the allowance for loan losses by portfolio for the three months ended March 31, 2016 and the year ended December 31, 2015: COMMERCIAL RESIDENTIAL CONSUMER March 31, 2016 (Dollars in thousands) Real Estate Business Construction Real Estate Construction Home Equity & Equity Lines Personal Education Auto Total Allowance for loan losses: Beginning balance $ $ $ $ $ — $ $ $ $ $ Charge-offs — ) — ) — ) ) ) ) ) Recoveries — — Provision (credit) — ) ) ) — Allowance ending balance $ $ $ $ $ — $ $ $ $ $ Allowance ending balance Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — Total Allowance $ $ $ $ $ — $ $ $ $ $ Financing receivable: Ending balance Individually evaluated for impairment $ $ $ — $ $ $ $ $ — $ — $ Collectively evaluated for impairment — Total Portfolio $ $ $ $ $ $ $ $ $ $ COMMERCIAL RESIDENTIAL CONSUMER December 31, 2015 (Dollars in thousands) Real Estate Business Construction Real Estate Construction Home Equity & Equity Lines Personal Education Auto Unallocated Total Allowance for loan losses: Beginning balance $ $ $ $ $ — $ $ $ $ $ $ Charge-offs ) ) — ) — ) ) ) ) — ) Recoveries — — — Provision (credit) ) ) ) — ) ) ) ) Allowance ending balance $ $ $ $ $ — $ $ $ $ $ — $ Allowance ending balance Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment $ — $ — $ Total Allowance $ $ $ $ $ — $ $ $ $ $ — $ Financing receivable: Ending balance Individually evaluated for impairment $ $ $ $ $ $ $ $ — $ — $ — $ Collectively evaluated for impairment — — Total Portfolio $ $ $ $ $ $ $ $ $ $ — $ The provision for loan losses charged to expense is based upon past loan loss experience and an evaluation of estimated losses in the current loan portfolio, including the evaluation of impaired loans under FASB ASC Topic 310 for Loans and Debt Securities. Under FASB ASC Topic 310 for Receivables, for all loan segments a loan is considered to be impaired when, based upon current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan. An insignificant delay or insignificant shortfall in amount of payments does not necessarily result in the loan being identified as impaired. When all or a portion of the loan is deemed uncollectible, the uncollectible portion is charged-off. The measurement is based either on the fair value of the collateral if the loan is collateral dependent, the liquidation value, or the present value of expected future cash flows discounted at the loan’s effective interest rate. Most of the Company’s commercial loans are collateral dependent and, therefore, the Company uses the value of the collateral to measure the loss. Any collateral or discounted cash flow deficiency for loans that are 90 days past due are charged-off. Impairment losses are included in the provision for loan losses. Large groups of homogeneous loans are collectively evaluated for impairment, except for those loans restructured under a troubled debt restructuring. Classified Loans The Bank’s credit review process includes a risk classification of all commercial and residential loans that includes pass, special mention, substandard and doubtful. The classification of a loan may change based on changes in the creditworthiness of the borrower. The description of the risk classifications are as follows: A loan is classified as pass when payments are current and it is performing under the original contractual terms. A loan is classified as special mention when the borrower exhibits potential credit weakness or a downward trend which, if not checked or corrected, will weaken the asset or inadequately protect the Bank’s position. While potentially weak, the borrower is currently marginally acceptable; no loss of principal or interest is envisioned. A loan is classified as substandard when the borrower has a well-defined weakness or weaknesses that jeopardize the orderly liquidation of the debt. A substandard loan is inadequately protected by the current net worth and paying capacity of the obligor, normal repayment from this borrower is in jeopardy, and there is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. A loan is classified as doubtful when a borrower has all weaknesses inherent in a loan classified as substandard with the added provision that: (1) the weaknesses make collection of debt in full on the basis of currently existing facts, conditions and values highly questionable and improbable; (2) serious problems exist to the point where a partial loss of principal is likely; and (3) the possibility of loss is extremely high, but because of certain important, reasonably specific pending factors which may work to the advantage and strengthening of the assets, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens and additional refinancing plans. The Company charges-off the collateral or discounted cash flow deficiency on all loans classified as substandard or worse. In all cases, loans are placed on non-accrual when 90 days past due or earlier if collection of principal or interest is considered doubtful. The following tables set forth the amounts and percentage of the portfolio of classified asset categories for the commercial and residential loan portfolios at March 31, 2016 and December 31, 2015: Commercial and Residential Loans Credit Risk Internally Assigned March 31, 2016 Commercial Commercial Commercial Residential Residential (Dollars in thousands) Real Estate Business Construction Real Estate Construction Total Grade Pass $ % $ % $ % $ % $ % $ % Special Mention — % % — — % — — % — — % — % Substandard % % — — % % % % Doubtful — — % — — % — — % — — % — — % — — % Total $ % $ % $ % $ % $ % $ % December 31, 2015 Commercial Commercial Commercial Residential Residential Real Estate Business Construction Real Estate Construction Total Grade Pass $ % $ % $ % $ % $ % $ % Special Mention % % — — % — — % — — % % Substandard % % — % % % % Doubtful — — % — — % — — % — — % — — % — — % Total $ % $ % $ % $ % $ % $ % The Bank’s credit review process is based on payment history for all consumer loans. The collateral deficiency on consumer loans is charged-off when they become 90 days delinquent with the exception of education loans which are guaranteed by the U.S. government. The following tables set forth the consumer loan risk profile based on payment activity as of March 31, 2016 and December 31, 2015: Credit Risk Profile Based on Payment Activity March 31, 2016 (Dollars in thousands) Home Equity & Lines of Credit Personal Education Auto Total Performing $ % $ % $ % $ % $ % Non-performing % — % % — — % % Total $ % $ % $ % $ % $ % December 31, 2015 Home Equity & Lines of Credit Personal Education Auto Total Performing $ % $ % $ % $ % $ % Non-performing % — — % % — — % % Total $ % $ % $ % $ % $ % Loan Delinquencies and Non-accrual Loans The Company monitors the past due and non-accrual status of loans in determining the loss classification, impairment status and the allowance for loan losses. Generally, all loans past due 90 days or more are put on non-accrual status. Education loans greater than 90 days delinquent continue to accrue interest as they are U.S. government guaranteed with little risk of credit loss. The following tables provide information about delinquent and non-accrual loans in the Company’s portfolio at the dates indicated: Aged Analysis of Past Due and Non-accrual Financing Receivables As of March 31, 2016 Recorded 30-59 60-89 > 90 Investment Days Days Days Total Total >90 Days Past Past Past Past Financing And Non- (Dollars in thousands) Due Due Due Due Current Receivables Accruing Accruing Commercial: Commercial real estate $ % $ — — % $ % $ % $ % $ % $ — $ % Commercial business loans — — % — — % % % % % — % Commercial construction — — % — — % — — % — — % % % — — — % Total commercial $ % $ — — % $ % $ % $ % $ % $ — $ % Residential: Residential real estate $ % $ % $ % $ % $ % $ % $ — $ % Residential construction — — % — — % % — % — — % — % — % Total residential $ % $ % $ % $ % $ % $ % $ — $ % Consumer loans: Home equity & lines of credit $ % $ % $ % $ % $ % $ % $ — $ % Personal % % — — % % % % — — % Education % % % % % % — — % Automobile % % — — % % % % — — — % Total consumer $ % $ % $ % $ % $ % $ % $ $ % Total $ % $ % $ % $ % $ % $ % $ $ % Aged Analysis of Past Due and Non-accrual Financing Receivables As of December 31, 2015 Recorded 30-59 60-89 > 90 Investment Days Days Days Total Total >90 Days Past Past Past Past Financing And Non- (Dollars in thousands) Due Due Due Due Current Receivables Accruing Accruing Commercial: Commercial real estate $ — — % $ % $ — — % $ % $ % $ % $ — $ % Commercial business loans % — % % % % % — % Commercial construction — — % — — % — % — % % % — — % Total commercial $ % $ % $ % $ % $ % $ % $ — $ % Residential: Residential real estate $ % $ % $ % $ % $ % $ % $ — $ % Residential construction — — % — — % % — % — — % — % — % Total residential $ % $ % $ % $ % $ % $ % $ — $ % Consumer loans: Home equity & lines of credit $ % $ % $ % $ % $ % $ % $ — $ % Personal % — % — — % — % % % — — — % Education % % % % % % — — % Automobile % % — — % % % % — — — % Total consumer $ % $ % $ % $ % $ % $ % $ $ % Total $ % $ % $ % $ % $ % $ % $ $ % Troubled Debt Restructured Loans The Bank determines whether a restructuring of debt constitutes a troubled debt restructuring (“TDR”) in accordance with guidance under FASB ASC Topic 310 Receivables. The Bank considers a loan a TDR when the borrower is experiencing financial difficulty and the Bank grants a concession that it would not otherwise consider but for the borrower’s financial difficulties. A TDR includes a modification of debt terms or assets received in satisfaction of the debt (including a foreclosure or a deed in lieu of foreclosure) or a combination of types. The Bank evaluates selective criteria to determine if a borrower is experiencing financial difficulty, including the ability of the borrower to obtain funds from sources other than the Bank at market rates. The Bank considers all TDR loans as impaired loans and, generally, they are put on non-accrual status. The Bank will not consider the loan a TDR if the loan modification was made for customer retention purposes and the modification reflects prevailing market conditions. The Bank’s policy for returning a loan to accruing status requires the preparation of a well-documented credit evaluation, which includes the following: · A review of the borrower’s current financial condition in which the borrower must demonstrate sufficient cash flow to support the repayment of all principal and interest including any amounts previously charged-off; · An updated appraisal or home valuation, which must demonstrate sufficient collateral value to support the debt; · Sustained performance based on the restructured terms for at least six consecutive months; and · Approval by the Special Assets Committee, which consists of the Chief Credit Officer, the Chief Financial Officer and other members of senior management. The following table summarizes loans whose terms were modified in a manner that met the definition of a TDR as of March 31, 2016 and 2015. March 31, March 31, 2016 2015 (Dollars in thousands) No. of Loans Balance No. of Loans Balance Commercial: Commercial real estate — $ — $ Commercial business loans — — — — Commercial construction — — — — Total commercial — — Residential: Residential real estate Residential construction — — — — Total real estate loans Consumer loans: Home equity & lines of credit Automobile — — — — Total consumer loans Total loans $ $ The following tables summarize information about TDRs as of and for the three months ended March 31, 2016 and 2015: For the Three Months Ended March 31, 2016 (Dollars in thousands, except number of loans) No. of Loans Balance Loans modified during the period in a manner that met the definition of a TDR — $ — Modifications granted: Reduction of outstanding principal due — — Deferral of principal amounts due — — Temporary reduction in interest rate — — Deferral of interest due — — Below market interest rate granted — — Outstanding principal balance immediately before modification — — Outstanding principal balance immediately after modification — — Aggregate principal charge-off recognized on TDRs outstanding at period end since origination — — Outstanding principal balance at period end TDRs that re-defaulted subsequent to being modified (in the past twelve months) — — For the Three Months Ended March 31, 2015 (Dollars in thousands, except number of loans) No. of Loans Balance Loans modified during the period in a manner that met the definition of a TDR $ Modifications granted: Reduction of outstanding principal due — — Deferral of principal amounts due Temporary reduction in interest rate — — Deferral of interest due — — Below market interest rate granted — — Outstanding principal balance immediately before modification Outstanding principal balance immediately after modification Aggregate principal charge-off recognized on TDRs outstanding at period end since origination — — Outstanding principal balance at period end TDRs that re-defaulted subsequent to being modified (in the past twelve months) — — Impaired Loans Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures the extent of the impairment in accordance with guidance under FASB ASC Topic 310 for Receivables. The fair value of impaired loans is estimated using one of several methods, including collateral value, liquidation value or discounted cash flows. However, collateral value is predominantly used to assess the fair value of an impaired loan. Those impaired loans not requiring an allowance represent loans for which the fair value of the collateral or expected repayments exceed the recorded investments in such loans. Components of Impaired Loans Impaired Loans Year to date March 31, 2016 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized Using Cash Basis Impaired loans with no related specific allowance recorded: Commercial Real Estate $ $ $ — $ $ — $ — Commercial Business — — — Commercial Construction — — — — — Residential Real Estate — — — Residential Construction — — — Home Equity and Lines of Credit — — — Personal — — — Education — — — — — — Auto — — — — — — Total Impaired Loans: $ $ $ — $ $ — $ — Commercial — — — Residential — — — Consumer — — — Total $ $ $ — $ $ — $ — Impaired Loans For the Year Ended December 31, 2015 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized Using Cash Basis Impaired loans with no related specific allowance recorded: Commercial Real Estate $ $ $ — $ $ — $ — Commercial Business — — — Commercial Construction — — — Residential Real Estate — — — Residential Construction — — — Home Equity and Lines of Credit — — — Personal — — — — — Education — — — — — — Auto — — — — — Total Impaired Loans: $ $ $ — $ $ — $ — Commercial — — — Residential — — — Consumer — — — Total $ $ $ — $ $ — $ — The Company charged-off the collateral or discounted cash flow deficiency on all impaired loans and, as a result, no specific valuation allowance was required for any impaired loans at March 31, 2016. Interest income that would have been recorded for the three months ended March 31, 2016, had impaired loans been current according to their original terms, amounted to $202 thousand. Non-performing loans (which include non-accrual loans and loans past due 90 days or more and still accruing) at March 31, 2016 and December 31, 2015 amounted to $35.8 million and $37.7 million, respectively, and included $21.2 million and $22.9 million, respectively, of government guaranteed student loans .

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2016
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES	NOTE 7 — GOODWILL AND OTHER INTANGIBLES The goodwill and other intangible assets arising from acquisitions accounted for in accordance with the accounting guidance in FASB ASC Topic 350 for Intangibles - Goodwill and Other. As of March 31, 2016, the other intangibles consisted of $2.0 million of core deposit intangibles, which are amortized over an estimated useful life of ten years, and $1.9 million of customer list intangibles, which are amortized over an estimated remaining life of between four and six years. Goodwill and other intangibles at March 31, 2016 are summarized below. (Dollars in thousands) Goodwill Intangibles Balance at January 1, 2016 $ $ Additions — — Amortization — ) Balance at March 31, 2016 $ $ During 2015, management reviewed qualitative factors for the bank unit including financial performance, market changes and general economic conditions and noted there was not a significant change in any of these factors as compared to 2014. Accordingly, it was determined that it was more likely than not that the fair value of each reporting unit continued to be in excess of its carrying amount as of December 31, 2015. As it relates to Beneficial Insurance Services, LLC the Company performed an impairment test which estimates the fair value of equity using discounted cash flow analyses as well as guideline company and guideline transaction information. The inputs and assumptions are incorporated in the valuations including projections of future cash flows, discount rates, the fair value of tangible and intangible assets and liabilities, and applicable valuation multiples based on the guideline information. Based on the Company’s latest annual impairment assessment of Beneficial Insurance Services, LLC, management believes that the fair value is in excess of the carrying amount. As a result, management concluded that there was no impairment of goodwill during the year ended December 31, 2015. During the three months ended March 31, 2016, the Company noted no indicators of impairment as it relates to goodwill or other intangibles.

OTHER ASSETS

OTHER ASSETS	3 Months Ended
	Mar. 31, 2016
OTHER ASSETS.
OTHER ASSETS	NOTE 8 — OTHER ASSETS The following table provides selected information on other assets at March 31, 2016 and December 31, 2015: March 31, December 31, (Dollars in thousands) 2016 2015 Investments in affordable housing and other partnerships $ $ Prepaid assets Net deferred tax assets Other real estate Fixed assets held for sale Mortgage servicing rights Prepaid and other assets Total other assets $ $ The Company follows the authoritative guidance under ASC 860-50 - Servicing Assets and Liabilities to account for its mortgage servicing rights (“MSRs”). The Company utilizes the fair value measurement method to value its existing mortgage servicing assets at fair value in accordance with ASC 860-50. Under the fair value measurement method, the Company measures its MSRs at fair value at each reporting date and reports changes in the fair value of its MSRs in earnings in the period in which the changes occur. See Note 18 for further discussion of MSRs.

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2016
DEPOSITS
DEPOSITS	NOTE 9 — DEPOSITS Deposits consisted of the following major classifications at March 31, 2016 and December 31, 2015: March 31, % of Total December 31, % of Total (Dollars in thousands) 2016 Deposits 2015 Deposits Non-interest bearing deposits $ % $ % Interest-earning checking accounts % % Municipal checking accounts % % Money market accounts % % Savings accounts % % Certificates of deposit % % Total deposits $ % $ %

BORROWED FUNDS

BORROWED FUNDS	3 Months Ended
	Mar. 31, 2016
BORROWED FUNDS
BORROWED FUNDS	NOTE 10 — BORROWED FUNDS Borrowed funds at March 31, 2016 and December 31, 2015 are summarized as follows: (Dollars in thousands) March 31, 2016 December 31, 2015 FHLB advances $ $ Statutory trust debenture Total borrowed funds $ $ The Company pledges loans to secure its borrowings at the Federal Reserve Bank of Philadelphia. At March 31, 2016 and December 31, 2015, loans in the amount of $237.2 million and $235.8 million, respectively, were pledged to secure the Company’s borrowing capacity at the Federal Reserve Bank of Philadelphia. The Bank entered into future borrowing arrangements with the FHLB of Pittsburgh to borrow $200.0 million and $75.0 million, respectively, at a fixed interest rate during the period from April 2016 through April 2019 and the period from March 2017 through March 2020, respectively, to replace existing borrowings that will mature during these periods, as well as, to manage future interest rate volatility by locking into fixed borrowing rates. There was no impact to the Company’s financial condition, results of operations or cash flows for the quarter ended March 31, 2016.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Mar. 31, 2016
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	NOTE 11 — REGULATORY CAPITAL REQUIREMENTS The Bank is subject to various regulatory capital requirements administered by state and federal banking agencies. 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 Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Dodd-Frank Act required the Federal Reserve Board to promulgate consolidated capital requirements for depository institution holding companies that are no less stringent, both quantitatively and in terms of components of capital, than those applicable to institutions themselves. In early July 2013, the Federal Reserve Board and the Office of the Comptroller of the Currency approved revisions to their capital adequacy guidelines and prompt corrective action rules that implement the revised standards of the Basel Committee on Banking Supervision, commonly called Basel III, and address relevant provisions of the Dodd-Frank Act. “Basel III” refers to two consultative documents released by the Basel Committee on Banking Supervision in December 2009, the rules text released in December 2010, and loss absorbency rules issued in January 2011, which include significant changes to bank capital, leverage and liquidity requirements. In July 2013, the Federal Deposit Insurance Corporation and the Federal Reserve Board approved a new rule that substantially amended the regulatory risk-based capital rules applicable to Beneficial Bank and Beneficial Bancorp. The final rule implements the “Basel III” regulatory capital reforms and changes required by the Dodd-Frank Act. The rules include new risk-based capital and leverage ratios, which became effective on January 1, 2015, and revised the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to the Company and the Bank are: (1) a new common equity Tier 1 capital ratio of 4.5%; (2) a Tier 1 capital ratio of 6% (increased from 4%); (3) a total capital ratio of 8% (unchanged from current rules); and (4) a Tier 1 leverage ratio of 4% for all institutions. The rules also establish a “capital conservation buffer” of 2.5% above the new regulatory minimum capital requirements, which must consist entirely of common equity Tier 1 capital and would result in the following minimum ratios: (1) a common equity Tier 1 capital ratio of 7.0%, (2) a Tier 1 capital ratio of 8.5%, and (3) a total capital ratio of 10.5%. The new capital conservation buffer requirement was phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase by that amount each year until fully implemented in January 2019. An institution is also subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. As of March 31, 2016, the Company’s and the Bank’s current capital levels exceed the required capital amounts to be considered “well capitalized” and we believe they also meet the fully-phased in minimum capital requirements, including the related capital conservation buffers, as required by the Basel III capital rules. The following table summarizes the Company’s compliance with applicable regulatory capital requirements as of March 31, 2016 and December 31, 2015: Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio As of March 31, 2016: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % % As of December 31, 2015: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % % The following table summarizes the Bank’s compliance with applicable regulatory capital requirements as of March 31, 2016 and December 31, 2015: To Be Well Capitalized For Capital Under Prompt Corrective Actual Adequacy Purposes Action Provisions (Dollars in thousands) Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio As of March 31, 2016: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % % As of December 31, 2015: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % %

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
INCOME TAXES
INCOME TAXES	NOTE 12 — INCOME TAXES For the three months ended March 31, 2016, we recorded a provision for income taxes of $2.2 million, reflecting an effective tax rate of 30.7%, compared to a provision for income taxes of $2.0 million, reflecting an effective tax rate of 27.6%, for the three months ended March 31, 2015. The increase in income tax expense and the effective tax rate during these periods is due to a higher ratio of taxable income compared to tax exempt income for the three months ended March 31, 2016 as compared to the same periods in 2015. The effective income tax rates differ from the statutory rate of 35% principally because of tax-exempt investments, non-taxable income related to bank-owned life insurance, state and local income taxes and tax credits received on affordable housing partnerships. Tax-exempt income, state and local income taxes and federal income tax credits (reduced) increased the effective tax rates by (3.5%), 3.4% and (3.9%) in the effective income tax rate calculation as of March 31, 2016, respectively, and (4.1%), 2.5% and (4.2%) in the effective income tax rate calculation as of March 31, 2015, respectively. As of March 31, 2016, the Company had net deferred tax assets totaling $34.9 million. These deferred tax assets can only be realized if the Company generates sufficient taxable income in the future. If it cannot, a valuation allowance is established. The Company regularly evaluates the reliability of deferred tax asset positions. In determining whether a valuation allowance is necessary, the Company considers the level of taxable income in prior years to the extent that carry backs are permitted under current tax laws, as well as estimates of future pre-tax and taxable income and tax planning strategies that would, if necessary, be implemented. The Company currently maintains a valuation allowance for certain state net operating losses and other-than-temporary impairments that management believes it is more likely than not that such deferred tax assets will not be realized. The Company expects to realize the remaining deferred tax assets over the allowable carry back and/or carry forward periods. Therefore, no valuation allowance is deemed necessary against its remaining federal or remaining state deferred tax assets as March 31, 2016. However, if an unanticipated event occurs that materially changes pre-tax and taxable income in future periods, an increase in the valuation allowance may become necessary and it could be material to the Company’s financial statements.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	NOTE 13 — PENSION AND OTHER POSTRETIREMENT BENEFITS The Bank has noncontributory defined benefit pension plans covering many of its employees. Additionally, the Company sponsors nonqualified supplemental employee retirement plans for certain participants. The Bank also provides certain postretirement benefits to qualified former employees. These postretirement benefits principally pertain to certain health and life insurance coverage. Information relating to these employee benefits program are included in the tables that follow. Effective June 30, 2008, the defined pension benefits for Bank employees were frozen at the current levels. Additionally, the Bank enhanced its 401(k) Plan and combined it with its Employee Stock Ownership Plan to fund employer contributions. The components of net pension cost are as follows: Pension Benefits Other Postretirement Benefits Three Months Ended March 31, Three Months Ended March 31, (Dollars in thousands) 2016 2015 2016 2015 Service cost $ — $ — $ $ Interest cost Expected return on assets ) ) — — Amortization of loss Amortization of prior service cost — — ) ) Net periodic pension (benefit) cost $ ) $ ) $ $

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Mar. 31, 2016
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION	NOTE 14 — STOCK BASED COMPENSATION Stock-based compensation is accounted for in accordance with FASB ASC Topic 718 for Compensation — Stock Compensation . The Company establishes fair value for its equity awards to determine their cost. The Company recognizes the related expense for employees over the appropriate vesting period, or when applicable, service period, using the straight-line method. However, consistent with the guidance, the amount of stock-based compensation recognized at any date must at least equal the portion of the grant date value of the award that is vested at that date. As a result, it may be necessary to recognize the expense using a ratable method. The Company’s 2008 Equity Incentive Plan (“EIP”) authorizes the issuance of shares of common stock pursuant to awards that may be granted in the form of stock options to purchase common stock (“options”) and awards of shares of common stock (“stock awards”). The purpose of the Company’s stock-based incentive plans is to attract and retain personnel for positions of substantial responsibility and to provide additional incentive to certain officers, directors and employees. In order to fund grants of stock awards under the EIP, the Equity Incentive Plan Trust (the “EIP Trust”) purchased 1,773,463 shares of Company common stock in the open market for approximately $19.0 million during the year ended December 31, 2008. The Company funded the stock purchases. The acquisition of these shares by the EIP Trust reduced the Company’s outstanding additional paid in capital. The EIP shares will generally vest at a rate of 20% over five years. As of March 31, 2016, 1,028,578 shares were fully vested and 513,789 shares were forfeited. All grants that were issued contain a service condition in order for the shares to vest. Compensation expense related to the stock awards is recognized ratably over the five-year vesting period in an amount which totals the market price of the Company’s stock at the grant date. The expense recognized for the three months ended March 31, 2016 was $413 thousand compared to $273 thousand for the three months ended March 31, 2015. The following table summarizes the non-vested stock award activity for the three months ended March 31, 2016: Summary of Non-vested Stock Award Activity Number of Shares Weighted Average Grant Price Non-vested Stock Awards outstanding, January 1, 2016 $ Issued Vested ) Forfeited ) Non-vested Stock Awards outstanding, March 31, 2016 The following table summarizes the non-vested stock award activity for the three months ended March 31, 2015: Summary of Non-vested Stock Award Activity Number of Shares Weighted Average Grant Price Non-vested Stock Awards outstanding, January 1, 2015 $ Issued Vested ) Forfeited ) Non-vested Stock Awards outstanding, March 31, 2015 The fair value of the 99,738 shares that vested during the three months ended March 31, 2016 was $1.3 million. The fair value of the 85,887 shares that vested during the three months ended March 31, 2015 was $957 thousand. The EIP authorizes the grant of options to officers, employees, and directors of the Company to acquire shares of common stock with an exercise price equal to the fair value of the common stock at the grant date. Options expire ten years after the date of grant, unless terminated earlier under the option terms. Options are granted at the then fair market value of the Company’s stock. The options were valued using the Black-Scholes option pricing model. During the three months ended March 31, 2016, the Company did not grant any options compared to 166,075 options granted during the three months ended March 31, 2015. All options issued contain vesting conditions that require the participant’s continued service. The options generally vest and are exercisable over five years. Compensation expense for the options totaled $417 thousand for the three months ended March 31, 2016, compared to $437 thousand for the three months ended March 31, 2015. A summary of option activity as of March 31, 2016 and changes during the three month period ended March 31, 2016 is presented below: Number of Options Weighted Exercise Price per Shares January 1, 2016 $ Granted — — Exercised ) Forfeited ) Expired — — March 31, 2016 A summary of option activity as of March 31, 2015 and changes during the three month period ended March 31, 2015 is presented below: Number of Options Weighted Exercise Price per Shares January 1, 2015 $ Granted Exercised ) Forfeited ) Expired ) March 31, 2015 The weighted average remaining contractual term was approximately 5.52 years and the aggregate intrinsic value was $13.4 million for options outstanding as of March 31, 2016. As of March 31, 2016, exercisable options totaled 2,306,651 with an average weighted exercise price of $9.49 per share, a weighted average remaining contractual term of approximately 4.75 years, and an aggregate intrinsic value of $9.7 million. The weighted average remaining contractual term was approximately 6.33 years and the aggregate intrinsic value was $6.2 million for options outstanding as of March 31, 2015. As of March 31, 2015, exercisable options totaled 2,210,328 with an average weighted exercise price of $9.61 per share, a weighted average remaining contractual term of approximately 5.11 years, and an aggregate intrinsic value of $3.7 million. During the three months ended March 31, 2016, the Company did not grant any options. Significant weighted average assumptions used to calculate the fair value of the options granted during the three months ended March 31, 2015 are as follows: For the Three Months Ended March 31, 2015 Weighted average fair value of options granted $ Weighted average risk-free rate of return % Weighted average expected option life in months Weighted average expected volatility % Expected dividends $ — As of March 31, 2016, there was $3.1 million of total unrecognized compensation cost related to options and $6.4 million in unrecognized compensation cost related to non-vested stock awards granted under the EIP. As of March 31, 2015, there was $4.8 million of total unrecognized compensation cost related to options and $5.1 million in unrecognized compensation cost related to non-vested stock awards granted under the EIP. The average weighted lives for the option expense were 2.59 and 3.39 years as of March 31, 2016 and March 31, 2015, respectively. The average weighted lives for the stock award expense were 3.90 and 3.97 years at March 31, 2016 and March 31, 2015, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 15 — COMMITMENTS AND CONTINGENCIES At March 31, 2016 and December 31, 2015, the Company had outstanding commitments to purchase or originate new loans aggregating $20.7 million and $40.4 million, respectively, commitments to customers on available lines of credit of $303.6 million and $290.4 million, respectively, commitments to fund commercial construction and other advances of $133.3 million and $136.9 million, respectively, and standby letters of credit of $20.0 million and $17.6 million, respectively. Commitments are issued in accordance with the same policies and underwriting procedures as settled loans. The Bank had a reserve for its unfunded commitments of $284 thousand and $275 thousand at March 31, 2016 and December 31, 2015, respectively. Periodically, there have been various claims and lawsuits against the Company, such as claims to enforce liens, condemnation proceedings on properties in which it holds security interests, claims involving the making and servicing of real property loans and other issues incident to its business. The Company is not a party to any pending legal proceedings that it believes would have a material adverse effect on its financial condition, results of operations or cash flows.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 16 — RECENT ACCOUNTING PRONOUNCEMENTS In April 2016, the FASB issued ASU 2016-10: Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The amendments in this update clarify the following two aspects of Topic 606: (a) identifying performance obligations; and (b) the licensing implementation guidance. The amendments do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for the amendments in this update are the same as the effective date and transition requirements in Topic 606. The Company is in the process of evaluating the impact of this guidance and does not anticipate a material impact to the consolidated financial statements at this time. In March 2016, the FASB issued ASU 2016-09: Compensation —Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The Board is issuing this update as part of its initiative to reduce complexity in accounting standards. The areas for simplification in this update involve several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. In addition, the amendments in this update eliminate the guidance in Topic 718 that was indefinitely deferred shortly after the issuance of FASB Statement No. 123 (revised 2004), Share-Based Payment. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is in the process of evaluating the impact of this guidance and does not anticipate a material impact to the consolidated financial statements at this time. Also in March 2016, the FASB issued ASU 2016-08: Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in this update clarify the implementation guidance included in Topic 606 on principal versus agent considerations. The effective date and transition requirements for the amendments in this update are the same as the effective date and transition requirements in Topic 606. The Company is in the process of evaluating the impact of this guidance and does not anticipate a material impact to the consolidated financial statements at this time. Also in March 2016, the FASB issued ASU 2016-07: Investments —Equity Method and Joint Ventures (Topic 323). To simplify the accounting for equity method investments, the amendments in this update eliminate the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. The amendments in this update are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The Company has not identified significant changes in the level of its ownership in its investments in limited partnerships. As a result, the Company does not anticipate an impact to the consolidated financial statements. Also in March 2016, the FASB issued ASU 2016-05: Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. The term novation refers to replacing one counterparty to a derivative instrument with a new counterparty. That change occurs for a variety of reasons, including financial institution mergers, intercompany transactions, an entity exiting a particular derivatives business or relationship, an entity managing against internal credit limits, or in response to laws or regulatory requirements. The amendments in this update clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815, does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. For public business entities, the amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company does not designate any of its derivative instruments as a heading relationship. As a result, the Company does not anticipate an impact to the consolidated financial statements. Also in March 2016, the FASB issued ASU 2016-04: Liabilities —Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products. When an entity sells a prepaid stored-value product (such as gift cards, telecommunication cards, and traveler’s checks), it recognizes a financial liability for its obligation to provide the product holder with the ability to purchase goods or services at a third-party merchant. When a prepaid stored-value product goes unused wholly or partially for an indefinite time period, the amount that remains on the product is referred to as breakage. There currently is diversity in the methodology used to recognize breakage. Subtopic 405-20 includes derecognition guidance for both financial liabilities and nonfinancial liabilities, and Topic 606, Revenue from Contracts with Customers, includes authoritative breakage guidance but excludes financial liabilities. The amendments in this update provide a narrow scope exception to the guidance in Subtopic 405-20 to require that breakage be accounted for consistent with the breakage guidance in Topic 606. The amendments in this update are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Earlier application is permitted, including adoption in an interim period. The Company is in the process of evaluating the impact of this guidance and does not anticipate an impact to the consolidated financial statements at this time. In February 2016, the FASB issued its new lease accounting guidance in ASU 2016-02: Leases (Topic 842). Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (i) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is in the process of evaluating the impact of this guidance and anticipates an impact to the consolidated financial statements with regard to the Company’s operating lease agreements. In January 2016, the FASB issued ASU 2016-01: Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The amendments in this update address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update require all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition the amendments in this update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is in the process of evaluating the impact of this guidance and does not anticipate a material impact to the consolidated financial statements at this time. In November 2015, the FASB issued ASU 2015-17: Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. In Topic 740, Income Taxes, requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. Deferred tax liabilities and assets that are not related to an asset or liability for financial reporting are classified according to the expected reversal date of the temporary difference. To simplify the presentation of deferred income taxes, the amendments in this update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this update. For public business entities, the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. This update is not applicable since the Company does not present a classified statement of financial position. As a result, the Company does not anticipate an impact to the consolidated financial statements. In September 2015, the FASB issued ASU 2015-16: Business Combinations — Simplifying the Accounting for Measurement-Period Adjustments. GAAP requires that during the measurement period, the acquirer retrospectively adjust the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill. Those adjustments are required when new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts initially recognized or would have resulted in the recognition of additional assets or liabilities. The acquirer also must revise comparative information for prior periods presented in financial statements as needed, including revising depreciation, amortization, or other income effects as a result of changes made to provisional amounts. To simplify the accounting for adjustments made to provisional amounts recognized in a business combination, the amendments in this update eliminate the requirement to retrospectively account for those adjustments. The amendments in this update require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments in this update require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The Company adopted the provisions of this update during the three months ended March 31, 2016 and noted no impact to the consolidated financial statements related to this guidance. In August 2015, the FASB issued ASU 2015-14: Revenue from Contracts with Customers — Deferral of the Effective Date. On May 28, 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. For public business entities, the effective date was for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. In response to stakeholders’ requests to defer the effective date of the guidance in Update 2014-09 and in consideration of feedback received through extensive outreach with preparers, practitioners, and users of financial statements, the Board issued proposed Accounting Standards Update, Revenue from Contracts with Customers: Deferral of the Effective Date. The amendments in this update defer the effective date of Update 2014-09 for all entities by one year. Public business entities should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company intends to comply with the effective date of this update. In June 2015, the FASB issued ASU 2015-10: Technical Corrections and Improvements. This update contains amendments that will affect a wide variety of Topics in the Codification. The amendments in this update will apply to all reporting entities within the scope of the affected accounting guidance. The amendments generally fall into one of the types of amendments: (i) amendments related to differences between original guidance and the Codification, (ii) guidance clarification and reference corrections, (iii) simplification, and (iv) minor improvements. The amendments in this update represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, some of the amendments will make the Codification easier to understand and easier to apply by eliminating inconsistencies, providing needed clarifications, and improving the presentation of guidance in the Codification. Transition guidance varies based on the amendments in this update. The amendments in this update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The Company adopted the provisions of this update during the three months ended March 31, 2016 and noted no impact to the consolidated financial statements related to this guidance. In April 2015, the FASB issued ASU 2015-05: Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in this update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. For public business entities, the amendments in this update will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The Company adopted the provisions of this update during the three months ended March 31, 2016 and, following an evaluation of its software agreements, noted no impact to the consolidated financial statements related to this guidance. In February 2015, the FASB issued ASU 2015-02: Consolidation. The amendments in this update respond to concerns about the current accounting for consolidation of certain legal entities. Entities expressed concerns that current generally accepted accounting principles might require a reporting entity to consolidate another legal entity in situations in which the reporting entity’s contractual rights do not give it the ability to act primarily on its own behalf, the reporting entity does not hold a majority of the legal entity’s voting rights, or the reporting entity is not exposed to a majority of the legal entity’s economic benefits or obligations. Financial statement users asserted that in certain of those situations in which consolidation is ultimately required, deconsolidated financial statements are necessary to better analyze the reporting entity’s economic and operational results. Previously, the FASB issued an indefinite deferral for certain entities to partially address those concerns. However, the amendments in this update rescind that deferral and address those concerns by making changes to the consolidation guidance. The amendments in this update impact all reporting entities involved with limited partnerships or similar entities and require reporting entities to re-evaluate these entities for consolidation. In some cases, consolidation conclusion may change. In other cases, a reporting entity will need to provide additional disclosures if an entity that currently isn’t considered a variable interest entity is considered a variable interest entity under the new guidance. For public business entities, the guidance is effective for annual and interim periods beginning after December 15, 2015. The Company adopted the provisions of this update during the three months ended March 31, 2016 and noted no impact to the consolidated financial statements related to this guidance. In August 2014, the FASB issued ASU 2014-15: Presentation of Financial Statements — Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The amendments in this update apply to all entities. The amendments in this update provide guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued. The term probable is used consistently with its use in Topic 450, Contingencies. When management identifies conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern, management should consider whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company does not anticipate a material impact to the consolidated financial statements related to this guidance. In June 2014, the FASB issued ASU 2014-12 — Compensation — Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period: Current U.S. GAAP does not contain explicit guidance on whether to treat a performance target that could be achieved after the requisite service period as a performance condition that affects vesting or as a nonvesting condition that affects the grant-date fair value of an award. The amendments in this update provide explicit guidance for those awards. For all entities, the amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. The Company does not believe that it is probable that the performance conditions for any of the outstanding performance based awards will be met. The Company adopted the provisions of this update during the three months ended March 31, 2016 and noted no impact to the consolidated financial statements related to this guidance. In May 2014, the FASB issued ASU 2014-09 — Revenue from Contracts with Customers: The objective of this amendment is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. This update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are in the scope of other standards. For public entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2016. The Company is in the process of evaluating the impact of this guidance and does not anticipate a material impact to the consolidated financial statements at this time.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 17 — FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows authoritative guidance under FASB ASC Topic 820 for Fair Value Measurements and Disclosures which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The definition of fair value under ASC 820 is the exchange price. The guidance clarifies that the exchange price is the price in an orderly transaction between market participants to sell the asset or transfer the liability in the market in which the reporting entity would transact for the asset or liability. The definition focuses on the price that would be received to sell the asset or paid to transfer the liability (an exit price), not the price that would be paid to acquire the asset or received to assume the liability (an entry price). The guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Fair value is based on quoted market prices, when available. If listed prices or quotes are not available, fair value is based on fair value models that use market participant or independently sourced market data which include: discount rate, interest rate yield curves, credit risk, default rates and expected cash flow assumptions. In addition, valuation adjustments may be made in the determination of fair value. These fair value adjustments may include amounts to reflect counter party credit quality, creditworthiness, liquidity and other unobservable inputs that are applied consistently over time. These adjustments are estimated and, therefore, subject to significant management judgment, and at times, may be necessary to mitigate the possibility of error or revision in the model-based estimate of the fair value provided by the model. The methods described above may produce fair value calculations that may not be indicative of the net realizable value. While the Company believes its valuation methods are consistent with other financial institutions, the use of different methods or assumptions to determine fair values could result in different estimates of fair value. FASB ASC Topic 820 for Fair Value Measurements and Disclosures describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt securities, equity securities and derivative contracts that are traded in an active exchange market as well as certain U.S. Treasury securities that are highly liquid and actively traded in over-the-counter markets. Level 2 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 for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted market prices that are traded less frequently than exchange traded assets and liabilities. The values of these items are determined using pricing models with inputs observable in the market or can be corroborated from observable market data. This category generally includes U.S. Government and agency mortgage-backed debt securities, corporate debt securities and derivative contracts. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Those assets which will continue to be measured at fair value on a recurring basis are as follows at March 31, 2016: Category Used for Fair Value Measurement (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Mortgage servicing rights $ — $ — $ $ Investment securities available for sale: U.S. GSE and agency notes — — Ginnie Mae guaranteed mortgage certificates — — Collateralized mortgage obligations (“CMOs”) GSE CMOs — — GSE mortgage-backed securities — — Municipal bonds General obligation municipal bonds — — Revenue municipal bonds — — Corporate securities — — Money market funds — — Mutual funds — — Interest rate swap agreements — — Total Assets $ $ $ $ Liabilities: Interest rate swap agreements and other contracts $ — $ $ — $ Total Liabilities $ — $ $ — $ Those assets which will continue to be measured at fair value on a recurring basis are as follows at December 31, 2015: Category Used for Fair Value Measurement (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Mortgage servicing rights $ — $ — $ $ Investment securities available for sale: U.S. GSE and agency notes — — Ginnie Mae guaranteed mortgage securities — — Collateralized mortgage obligations (“CMOs”) GSE CMOs — — GSE mortgage-backed securities — — Municipal bonds General obligation municipal bonds — — Revenue municipal bonds — — Corporate securities — — Money market funds — — Mutual funds — — Interest rate swap agreements — — Total Assets $ $ $ $ Liabilities: Interest rate swap agreements $ — $ $ — $ Total Liabilities $ — $ $ — $ Level 1 Valuation Techniques and Inputs Included in this category are money market funds, mutual funds and certificates of deposit. To estimate the fair value of these securities, the Company utilizes observable quotations for the indicated security. Level 2 Valuation Techniques and Inputs The majority of the Company’s investment securities are reported at fair value utilizing Level 2 inputs. Prices of these securities are obtained through independent, third-party pricing services. Prices obtained through these sources include market derived quotations and matrix pricing and may include both observable and unobservable inputs. Fair market values take into consideration data such as dealer quotes, new issue pricing, trade prices for similar issues, prepayment estimates, cash flows, market credit spreads and other factors. The Company reviews the output from the third-party providers for reasonableness by considering the pricing consistency among securities with similar characteristics, where available, and comparing values with other pricing sources available to the Company. In general, the Level 2 valuation process uses the following significant inputs in determining the fair value of the different classes of investments: U.S. Government Sponsored Enterprise (GSE) and Agency Notes. Pricing evaluations are based on obtaining relevant trade data, benchmark quotes and spreads and incorporating this information into the evaluation process. Evaluations are generated on either a price or spread basis as determined by the observed market data. For spread-based evaluations, a non-call spread scale is created or an Option Adjusted Spread (OAS) model is incorporated to adjust spreads of issues that have early redemption features. Spreads are calculated continuously throughout the day, as well as “end of day”. Ginnie Mae Guaranteed Mortgage Certificates. Pricing evaluations are based on issuer type, coupon and maturity. The Pool specific evaluation model takes into account pool level information supplied directly by the agency. For adjustable rate mortgages, the model takes into account indices, margin, periodic and life caps, next coupon adjustment date and the convertibility of the bond. GSE CMOs. For pricing evaluations, the pricing service, obtains and applies available direct market color (trades, covers, bids, offers and price talk) along with market color for similar bonds and GSE/Agency CMOs in general (including market research). Evaluations of tranches (non-volatile and volatile) are based on IDC’s interpretation of accepted market modeling, trading, and pricing conventions. GSE Mortgage-backed Securities. Included in this category are Fannie Mae and Freddie Mac fixed rate residential mortgage backed securities and Fannie Mae and Freddie Mac Adjustable Rate residential mortgage backed securities. Pricing evaluations are based on issuer type, coupon and maturity. The Pool specific evaluation model takes into account pool level information supplied directly by the GSE. For adjustable rate mortgages, the model takes into account indices, margin, periodic and life caps, next coupon adjustment date and the convertibility of the bond. Tax Exempt General Obligation and Revenue Municipal Bonds. For pricing, the pricing service’s evaluators build internal yield curves, which are adjusted throughout the day based on trades and other pertinent market information. Evaluators apply this information to bond sectors, and individual bond evaluations are then extrapolated. Within a given sector, evaluators have the ability to make daily spread adjustments for various attributes that include, but are not limited to, discounts, premiums, credit, alternative minimum tax (AMT), use of proceeds, and callability. Corporate Securities. Pricing evaluations are based on obtaining relevant trade data, benchmark quotes and spreads and incorporating this information into the evaluation process. Evaluations are generated on either a price or spread basis as determined by the observed market data. For spread-based evaluations, a non-call spread scale is created or an Option Adjusted Spread (OAS) model is incorporated to adjust spreads of issues that have early redemption features. Spreads are calculated continuously throughout the day, as well as “end of day”. Interest Rate Swaps and Other Contracts. The Company’s valuation methodology for over-the-counter (“OTC”) derivatives includes an analysis of discount cash flows based on Overnight Index Swap (“OIS”) rates. Fully collateralized trades are discounted using OIS with no additional economic adjustments to arrive at fair value. Uncollateralized or partially-collateralized trades are also discounted at OIS, but include appropriate economic adjustments for funding costs (i.e., a LIBOR-OIS basis adjustment to approximate uncollateralized cost of funds) and credit risk. Level 3 Valuation Techniques and Inputs Mortgage Servicing Rights. The Company determines the fair value of its MSRs by estimating the amount and timing of future cash flows associated with the servicing rights and discounting the cash flows using market discount rates. The valuation includes the application of certain assumptions made by management of the Company, including prepayment projections, and prevailing assumptions used in the marketplace at the time of the valuation. The table below presents all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2016 and 2015. Level 3 Investments Only For the Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Mortgage Servicing Rights Mortgage Servicing Rights Balance, January 1, $ $ Additions Payments ) ) Decrease in fair value due to changes in valuation inputs or assumptions ) ) Balance, March 31, $ $ The Company also has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis. These include assets that are measured at the lower of cost or market value and had a fair value below cost at the end of the period as summarized below. A loan is impaired when, based on current information, the Company determines that it is probable that the Company will be unable to collect amounts due according to the terms of the loan agreement. The Company’s impaired loans are measured based on the estimated fair value of the collateral if the loans are collateral dependent or based on a discounted cash flow analysis if the loans are not collateral dependent. Assets measured at fair value on a nonrecurring basis are as follows: Balance Transferred YTD (Dollars in thousands) March 31, 2016 Level 1 Level 2 Level 3 Gains/(Losses) Impaired loans $ $ — $ — $ $ ) Other real estate owned — — — Balance Transferred YTD (Dollars in thousands) March 31, 2015 Level 1 Level 2 Level 3 Gains/(Losses) Impaired loans $ $ — $ — $ $ ) Other real estate owned — — — In accordance with FASB ASC Topic 825 for Financial Instruments, Disclosures about Fair Value of Financial Instruments, the Company is required to disclose the fair value of financial instruments. The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a distressed sale. Fair value is best determined using observable market prices; however for many of the Company’s financial instruments no quoted market prices are readily available. In instances where quoted market prices are not readily available, fair value is determined using present value or other techniques appropriate for the particular instrument. These techniques involve some degree of judgment, and as a result, are not necessarily indicative of the amounts the Company would realize in a current market exchange. Different assumptions or estimation techniques may have a material effect on the estimated fair value. The following table sets forth the carrying and estimated fair value of the Company’s financial assets and liabilities for the periods indicated: Fair Value of Financial Instruments At March 31, 2016 At December 31, 2015 Estimated Estimated Fair Value Carrying Fair Carrying Fair (Dollars in thousands) Hierarchy Level Amount Value Amount Value Assets: Cash and cash equivalents Level 1 $ $ $ $ Securities available for sale See previous table Securities held to maturity Level 2 FHLB stock Level 3 Loans, net Level 3 Loans held for sale Level 2 — — Mortgage servicing rights Level 3 Interest rate swaps Level 2 Accrued interest receivable Level 3 Liabilities: Deposits Level 2 Borrowed funds Level 2 Interest rate swaps and other contracts Level 2 Accrued interest payable Level 2 Cash and Cash Equivalents - For cash and cash equivalents, the carrying amount is a reasonable estimate of fair value. Securities Available for Sale and Held to Maturity - The fair value of investment securities, mortgage-backed securities and collateralized mortgage obligations is based on quoted market prices, dealer quotes, yield curve analysis, and prices obtained from independent pricing services. FHLB Stock - The fair value of FHLB stock is estimated at its carrying value and redemption price of $100 per share. Loans, Net - The fair value of loans is estimated by discounting the future cash flows using the current rate at which similar loans would be made to borrowers with similar credit and for the same remaining maturities. Additionally, to be consistent with the requirements under FASB ASC Topic 820 for Fair Value Measurements and Disclosures, the loans were valued at a price that represents the Company’s exit price or the price at which these instruments would be sold or transferred. Loans Held for Sale - The fair value of loans held for sale is estimated using the current rate at which similar loans would be made to borrowers with similar credit risk and the same remaining maturities. Loans held for sale are carried at the lower of cost or estimated fair value. Mortgage Servicing Rights - The Company determines the fair value of its MSRs by estimating the amount and timing of future cash flows associated with the servicing rights and discounting the cash flows using market discount rates. The valuation included the application of certain assumptions made by management of the Bank, including prepayment projections, and prevailing assumptions used in the marketplace at the time of the valuation. Interest Rate Swaps and Other Contracts - The Company’s valuation methodology for OTC derivatives includes an analysis of discount cash flows based on OIS rates. Fully collateralized trades are discounted using OIS with no additional economic adjustments to arrive at fair value. Uncollateralized or partially-collateralized trades are also discounted at OIS, but include appropriate economic adjustments for funding costs (i.e., a LIBOR-OIS basis adjustment to approximate uncollateralized cost of funds) and credit risk. Beginning January 1, 2013, the Company made the changes to better align its inputs, assumptions, and pricing methodologies with those used in its principal market by most dealers and major market participants. These changes in valuation methodology were applied prospectively as a change in accounting estimate and were immaterial to the Company’s financial statements. Accrued Interest Receivable/Payable - The carrying amounts of interest receivable/payable approximate fair value. Deposits - The fair value of checking and money market deposits and savings accounts is the amount reported in the consolidated financial statements. The carrying amount of checking, savings and money market accounts is the amount that is payable on demand at the reporting date. The fair value of time deposits is generally based on a present value estimate using rates currently offered for deposits of similar remaining maturity. Borrowed Funds - The fair value of borrowed funds is based on a present value estimate using rates currently offered. Commitments to Extend Credit and Letters of Credit - The majority of the Company’s commitments to extend credit and letters of credit carry current market interest rates if converted to loans and are not included in the table above. Because commitments to extend credit and letters of credit are generally unassignable by either the Company or the borrower, they only have value to the Company and the borrower. The estimated fair value approximates the recorded net deferred fee amounts, which are not significant. The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2016 and December 31, 2015. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since March 31, 2016 and December 31, 2015 and, therefore, current estimates of fair value may differ significantly from the amounts presented herein.

MORTGAGE SERVICING RIGHTS

MORTGAGE SERVICING RIGHTS	3 Months Ended
	Mar. 31, 2016
MORTGAGE SERVICING RIGHTS
MORTGAGE SERVICING RIGHTS	NOTE 18 — MORTGAGE SERVICING RIGHTS The Company follows the authoritative guidance under ASC 860-50 - Servicing Assets and Liabilities to account for its MSRs. The Company has elected the fair value measurement method to value its existing mortgage servicing assets at fair value in accordance with ASC 860-50. Under the fair value measurement method, the Company records its MSRs on its consolidated statements of financial condition as a component of other assets at fair value with changes in fair value recorded as a component of mortgage banking income in the Company’s consolidated statements of income for each period. As of March 31, 2016 and March 31, 2015, the Company serviced $139.2 million and $150.9 million of residential mortgage loans, respectively. During the three months ended March 31, 2016, the Company recognized servicing fee income of $87 thousand, compared to $95 thousand for the same period in 2015. The following is an analysis of the activity in the Company’s residential MSRs for the three months ended March 31, 2016 and 2015: Residential Mortgage Servicing Rights For the Three months ended March 31, Dollars in thousands 2016 2015 Balance, January 1, $ $ Additions Decreases in fair value due to: Changes in valuation input or assumptions ) ) Paydowns ) ) Balance, March 31, $ $ The Company uses assumptions and estimates in determining the fair value of MSRs. These assumptions include prepayment speeds, discount rates, escrow earnings rates and other assumptions. The assumptions used in the valuation were based on input from buyers, brokers and other qualified personnel, as well as market knowledge. At March 31, 2016, the key assumptions used to determine the fair value of the Company’s MSRs included a lifetime constant prepayment rate equal to 13.13%, a discount rate equal to 9.38% and an escrow earnings credit rate equal to 1.35%. At March 31, 2015, the key assumptions used to determine the fair value of the Company’s MSRs included a lifetime constant prepayment rate equal to 11.77%, a discount rate equal to 9.50% and an escrow earnings credit rate equal to 1.63%. At March 31, 2016 and March 31, 2015, the sensitivity of the current fair value of the residential mortgage servicing rights to immediate 10% and 20% favorable and unfavorable changes in key economic assumptions are included in the following table . Residential Residential Mortgage Servicing Rights Mortgage Servicing Rights (Dollars in thousands) March 31, 2016 March 31, 2015 Fair value of residential mortgage servicing rights $ $ Weighted average life (years) 4.7 years 5.1 years Prepayment speed Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease Discount rate Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease Escrow earnings credit Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. As indicated, changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of an adverse variation in a particular assumption on the fair value of the MSRs is calculated without changing any other assumption; while in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or counteract the effect of the change.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 19 — DERIVATIVE FINANCIAL INSTRUMENTS The Company is a party to derivative financial instruments in the normal course of business to meet the needs of commercial banking customers. These financial instruments have been limited to interest rate swap agreements, which are entered into with counterparties that meet established credit standards and, where appropriate, contain master netting and collateral provisions protecting the party at risk. The Company believes that the credit risk inherent in all of the derivative contracts is minimal based on the credit standards and the netting and collateral provisions of the interest rate swap agreements. 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 interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. These derivatives are not designated as hedges and are not speculative. Rather, these derivatives result from a service the Company provides to certain customers. As the interest rate swaps associated with this program do not meet the hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of March 31, 2016, the Company had six interest rate swaps with an aggregate notional amount of $23.9 million related to this program. During the three months ended March 31, 2016, the Company recognized a net loss of $10 thousand, compared to a net loss of $9 thousand for the three months ended March 31, 2015 related to interest rate swap agreements that are included as a component of services charges and other non-interest income in the Company’s consolidated statements of income. Under certain circumstances, when the Company purchases a portion of a commercial loan that has an existing interest rate swap, it enters a Risk Participation Agreement with the counterparty and assumes the credit risk of the loan customer related to the swap. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. Any fee paid to the Company as a result of the risk participation agreement is offset by credit risk of the counterparties and is recognized in the Company’s consolidated statements of income. Credit risk on the risk participation agreements is determined after considering the risk rating, probability of default and loss given default of the counterparties. During the first quarter, the Company entered into one risk participation agreement with a notional value of $2.5 million and a fair value of $10 thousand as of March 31, 2016. During the three months ended March 31, 2016, the Company recognized a gain of $22 thousand related to the risk participation agreement that is included as a component of services charges and other non-interest income in the Company’s consolidated statements of income. The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated statements of financial condition as of March 31, 2016 and December 31, 2015: As of March 31, 2016 Asset derivatives Liability derivatives (Dollars in thousands) Notional amount Fair value (1) Notional amount Fair value (2) Interest rate swap agreements $ $ $ $ Risk participation agreement — — Total derivatives $ $ $ $ (1) Included in other assets in our Consolidated Statements of Financial Condition. (2) Included in other liabilities in our Consolidated Statements of Financial Condition. As of December 31, 2015 Asset derivatives Liability derivatives (dollars in thousands) Notional amount Fair value (1) Notional amount Fair value (2) Interest rate swap agreements $ $ $ $ Total derivatives $ $ $ $ (1) Included in other assets in our Consolidated Statements of Financial Condition. (2) Included in other liabilities in our Consolidated Statements of Financial Condition. The following displays offsetting interest rate swap assets and liabilities for the dates presented: Offsetting of Derivative Assets As of March 31, 2016 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Collateral Received Net Amount Interest rate swaps $ $ — $ $ — $ — $ Offsetting of Derivative Liabilities As of March 31, 2016 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Collateral Posted Net Amount Interest rate swaps and risk participation agreements $ $ — $ $ — $ $ ) (1) - Balance includes accrued interest receivable/payable and credit valuation adjustments. Offsetting of Derivative Assets As of December 31, 2015 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Collateral Received Net Amount Interest rate swaps $ $ — $ $ — $ — $ Offsetting of Derivative Liabilities As of December 31, 2015 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Collateral Posted Net Amount Interest rate swaps $ $ — $ $ — $ $ ) (1) - Balance includes accrued interest receivable/payable and credit valuation adjustments. The Company has agreements with certain of its derivative counterparties that provide that if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that provide that if the Company fails to maintain its status as a well or adequately capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements . As of March 31, 2016, the termination value of the interest rate swaps and risk participation agreements in a liability position was $465 thousand. The Company has minimum collateral posting thresholds with its counterparty. At March 31, 2016, the Company had $548 thousand of securities pledged as collateral on interest rate swaps. If the Company had breached any of these provisions at March 31, 2016 it would have been required to settle its obligation under the agreement at the termination value and could have been required to pay any additional amounts due in excess of amounts previously posted as collateral with the counterparty. The Company had not breached any provisions at March 31, 2016.

ACQUISITION OF CONESTOGA BANK A

ACQUISITION OF CONESTOGA BANK AND RESTRUCTURING	3 Months Ended
	Mar. 31, 2016
ACQUISITION OF CONESTOGA BANK AND RESTRUCTURING
ACQUISITION OF CONESTOGA BANK AND RESTRUCTURING	NOTE 20 — ACQUISITION OF CONESTOGA BANK AND RESTRUCTURING On April 15, 2016, Beneficial announced the completion of its acquisition of Conestoga Bank. Pursuant to the terms of the Stock Purchase Agreement, dated October 21, 2015, between the Company and Conestoga Bancorp, Inc. (“Conestoga”) and Conestoga Bank, on April 14, 2016, the Company acquired Conestoga’s ownership interest in Conestoga Bank for a cash payment of $105.0 million and Conestoga Bank subsequently merged with and into Beneficial Bank. The results of Conestoga Bank’s operations will be included in the Company’s financial statements beginning on April 15, 2016. During the second quarter of 2016, the Company expects to record merger and other restructuring charges of approximately $8.0 million, pre-tax, as a result of the completion of the transaction. Because the Company has not completed the measurement of fair value of assets acquired and liabilities assumed in the Conestoga Bank acquisition, the initial accounting for the business combination has not been completed at the time of the Company’s filing of this Form 10-Q. Consequently, the Company has not made certain disclosures as described in ASC 805-10-50-2, 805-20-50-1 and 805-30-50-1. In connection with the closing of the Conestoga transaction, the Company announced the implementation of an expense management reduction program following a comprehensive review of the Company’s and Bank’s operating cost structure. Under the expense management reduction program, the Bank will reduce its salary and benefits expense by approximately 11% during the second quarter of 2016. Employees whose positions are eliminated as a result of the reduction in force will receive severance packages, which will include outplacement services. During the second quarter of 2016, the Company expects to record a charge of approximately $1.2 million, pre-tax, as a result of the expense management reduction program.

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto contained in the Annual Report on Form 10-K filed by Beneficial Bancorp, Inc. (the “Company” or “Beneficial”) with the U.S. Securities and Exchange Commission on February 26, 2016. The results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2016 or any other period.
Principles of Consolidation	Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Specifically, the financial statements include the accounts of Beneficial Bank (the “Bank”), the Company’s wholly owned subsidiary, and the Bank’s wholly owned subsidiaries. The Bank’s wholly owned subsidiaries are: (i) Beneficial Advisors, LLC, which offers wealth management services and non-deposit investment products, (ii) Neumann Corporation, a Delaware corporation formed to manage certain investments, (iii) Beneficial Insurance Services, LLC, which provides insurance services to individual and business customers and (iv) Beneficial Equipment Finance Corporation (formerly BSB Union Corporation), an equipment leasing company. Additionally, the Company has subsidiaries that hold other real estate acquired in foreclosure or transferred from the real estate loan portfolio. All significant intercompany accounts and transactions have been eliminated. The various services and products support each other and are interrelated. Management makes significant operating decisions based upon the analysis of the entire Company and financial performance is evaluated on a company-wide basis. Accordingly, the various financial services and products offered are included in one reportable operating segment: community banking as outlined under guidance in the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC” or “codification”) Topic 280 for Segment Reporting.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements These unaudited interim condensed consolidated financial statements are prepared in conformity with GAAP. The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Significant estimates include the allowance for loan losses, goodwill, other intangible assets, income taxes, postretirement benefits, and the fair value of investment securities. Actual results could differ from those estimates and assumptions.

CHANGES IN AND RECLASSIFICATI31

CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2016
CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of changes in the balances of each component of accumulated other comprehensive income	Net unrealized holding gains on available-for-sale Defined benefit (Dollars in thousands) securities pension plan items Total Beginning balance, January 1, 2016 $ $ ) $ ) Changes in other comprehensive loss before reclassifications: Unrealized holding gains on AFS securities — Accretion of unrealized losses on AFS securities transferred to HTM — Amount reclassified from accumulated other comprehensive loss Net current-period other comprehensive income Ending balance, March 31, 2016 $ $ ) $ ) Net unrealized holding gains on available-for-sale Defined benefit (Dollars in thousands) securities pension plan items Total Beginning balance, January 1, 2015 $ $ ) $ ) Changes in other comprehensive loss before reclassifications: Unrealized holding gains on AFS securities — Accretion of unrealized losses on AFS securities transferred to HTM — Amount reclassified from accumulated other comprehensive loss Net current-period other comprehensive income Ending balance, March 31, 2015 $ $ ) $ )
Schedule of reclassifications out of AOCI by component	For the Three Months Ended March 31, 2016 (Dollars in thousands) Details about accumulated Amount reclassified Affected line item in other comprehensive loss from accumulated other the consolidated statements Components comprehensive loss of operations Unrealized gains and losses on available-for-sale securities $ Net loss on sale of investment securities ) Income tax benefit $ Net of tax Amortization of defined benefit pension items Prior service costs $ )(1) Other non-interest expense Net recognized actuarial losses (1) Other non-interest expense $ Total before tax ) Income tax benefit $ Net of tax (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. See Note 13 - Pension and Other Postretirement Benefits for additional details. For the Three Months Ended March 31, 2015 (Dollars in thousands) Details about accumulated Amount reclassified Affected line item in other comprehensive loss from accumulated other the consolidated statements components comprehensive loss of operations Unrealized gains and losses on available-for-sale securities $ Net loss on sale of investment securities ) Income tax benefit $ Net of tax Amortization of defined benefit pension items Prior service costs $ )(1) Other non-interest expense Net recognized actuarial losses (1) Other non-interest expense $ Total before tax ) Income tax benefit $ Net of tax (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. See Note 13 - Pension and Other Postretirement Benefits for additional details.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
EARNINGS PER SHARE
EARNINGS PER SHARE	Three Months Ended March 31, (Dollars in thousands, except share and per share amounts) 2016 2015 Basic and diluted earnings per share: Net income $ $ Basic average common shares outstanding Effect of dilutive securities Dilutive average shares outstanding Net earnings per share Basic $ $ Diluted $ $

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2016
INVESTMENT SECURITIES.
Amortized cost and estimated fair value of investments in debt and equity securities	March 31, 2016 Investment Securities Available-for-Sale Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value U.S. Government Sponsored Enterprise (“GSE”) and Agency Notes $ $ $ — $ Ginnie Mae guaranteed mortgage certificates — GSE mortgage-backed securities GSE collateralized mortgage obligations Municipal bonds — Corporate securities Money market and mutual funds — Total $ $ $ $ March 31, 2016 Investment Securities Held-to-Maturity Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value GSE mortgage-backed securities $ $ $ $ GSE collateralized mortgage obligations Municipal bonds — Foreign bonds — Total $ $ $ $ December 31, 2015 Investment Securities Available-for-Sale Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value U.S. Government Sponsored Enterprise (“GSE”) and Agency Notes $ $ $ — $ Ginnie Mae guaranteed mortgage certificates — GSE mortgage-backed securities Collateralized mortgage obligations Municipal bonds — Corporate Securities — Money market, mutual funds and certificates of deposit — Total $ $ $ $ December 31, 2015 Investment Securities Held-to-Maturity Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value GSE mortgage-backed securities $ $ $ $ Collateralized mortgage obligations Municipal bonds — Foreign bonds — Total $ $ $ $
Summary of continuous unrealized loss position for periods of less than 12 months and 12 months or longer	At March 31, 2016 Less than 12 months 12 months or longer Total Unrealized Unrealized Unrealized (Dollars in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage-backed securities $ $ $ $ $ $ Corporate Securities — — Collateralized mortgage obligations — — Subtotal, debt securities $ $ $ $ $ $ Mutual Funds — — Total temporarily impaired securities $ $ $ $ $ $ At December 31, 2015 Less than 12 months 12 months or longer Total Unrealized Unrealized Unrealized (Dollars in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage-backed securities $ $ $ $ $ $ Corporate Securities — — Collateralized mortgage obligations Subtotal, debt securities $ $ $ $ $ $ Mutual Funds — — Total temporarily impaired securities $ $ $ $ $ $
Summary of maturities investment securities	March 31, 2016 December 31, 2015 Amortized Estimated Amortized Estimated (Dollars are in thousands) Cost Fair Value Cost Fair Value Available-for-sale: Due in one year or less $ — $ — $ — $ — Due after one year through five years Due after five years through ten years Due after ten years — — — — Mortgage-backed securities Money market and mutual funds Total $ $ $ $ Held-to-maturity: Due in one year or less $ $ $ $ Due after one year through five years Due after five years through ten years Due after ten years — — — — Mortgage-backed securities Total $ $ $ $

LOANS (Tables)

LOANS (Tables)	3 Months Ended
	Mar. 31, 2016
Loans disclosures
Summary of loans	(Dollars in thousands) March 31, 2016 December 31, 2015 Commercial: Commercial real estate $ $ Commercial business loans Commercial construction Total commercial loans Residential: Residential real estate Residential construction Total residential loans Consumer loans: Home equity & lines of credit Personal Education Automobile Total consumer loans Total loans Allowance for losses ) ) Loans, net $ $
Summary of activity in the allowance for loan losses	Three Months Ended Year Ended March 31, December 31, (Dollars in thousands) 2016 2015 2015 Balance, beginning of year $ $ Provision for loan losses — ) ) Charge-offs ) ) ) Recoveries Balance, end of period $ $ $
Summary of activity in the allowance for loans and recorded investment by loan portfolio	COMMERCIAL RESIDENTIAL CONSUMER March 31, 2016 (Dollars in thousands) Real Estate Business Construction Real Estate Construction Home Equity & Equity Lines Personal Education Auto Total Allowance for loan losses: Beginning balance $ $ $ $ $ — $ $ $ $ $ Charge-offs — ) — ) — ) ) ) ) ) Recoveries — — Provision (credit) — ) ) ) — Allowance ending balance $ $ $ $ $ — $ $ $ $ $ Allowance ending balance Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — Total Allowance $ $ $ $ $ — $ $ $ $ $ Financing receivable: Ending balance Individually evaluated for impairment $ $ $ — $ $ $ $ $ — $ — $ Collectively evaluated for impairment — Total Portfolio $ $ $ $ $ $ $ $ $ $ COMMERCIAL RESIDENTIAL CONSUMER December 31, 2015 (Dollars in thousands) Real Estate Business Construction Real Estate Construction Home Equity & Equity Lines Personal Education Auto Unallocated Total Allowance for loan losses: Beginning balance $ $ $ $ $ — $ $ $ $ $ $ Charge-offs ) ) — ) — ) ) ) ) — ) Recoveries — — — Provision (credit) ) ) ) — ) ) ) ) Allowance ending balance $ $ $ $ $ — $ $ $ $ $ — $ Allowance ending balance Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment $ — $ — $ Total Allowance $ $ $ $ $ — $ $ $ $ $ — $ Financing receivable: Ending balance Individually evaluated for impairment $ $ $ $ $ $ $ $ — $ — $ — $ Collectively evaluated for impairment — — Total Portfolio $ $ $ $ $ $ $ $ $ $ — $
Schedule of delinquent and non-accrual loans in the Company's portfolio	Aged Analysis of Past Due and Non-accrual Financing Receivables As of March 31, 2016 Recorded 30-59 60-89 > 90 Investment Days Days Days Total Total >90 Days Past Past Past Past Financing And Non- (Dollars in thousands) Due Due Due Due Current Receivables Accruing Accruing Commercial: Commercial real estate $ % $ — — % $ % $ % $ % $ % $ — $ % Commercial business loans — — % — — % % % % % — % Commercial construction — — % — — % — — % — — % % % — — — % Total commercial $ % $ — — % $ % $ % $ % $ % $ — $ % Residential: Residential real estate $ % $ % $ % $ % $ % $ % $ — $ % Residential construction — — % — — % % — % — — % — % — % Total residential $ % $ % $ % $ % $ % $ % $ — $ % Consumer loans: Home equity & lines of credit $ % $ % $ % $ % $ % $ % $ — $ % Personal % % — — % % % % — — % Education % % % % % % — — % Automobile % % — — % % % % — — — % Total consumer $ % $ % $ % $ % $ % $ % $ $ % Total $ % $ % $ % $ % $ % $ % $ $ % Aged Analysis of Past Due and Non-accrual Financing Receivables As of December 31, 2015 Recorded 30-59 60-89 > 90 Investment Days Days Days Total Total >90 Days Past Past Past Past Financing And Non- (Dollars in thousands) Due Due Due Due Current Receivables Accruing Accruing Commercial: Commercial real estate $ — — % $ % $ — — % $ % $ % $ % $ — $ % Commercial business loans % — % % % % % — % Commercial construction — — % — — % — % — % % % — — % Total commercial $ % $ % $ % $ % $ % $ % $ — $ % Residential: Residential real estate $ % $ % $ % $ % $ % $ % $ — $ % Residential construction — — % — — % % — % — — % — % — % Total residential $ % $ % $ % $ % $ % $ % $ — $ % Consumer loans: Home equity & lines of credit $ % $ % $ % $ % $ % $ % $ — $ % Personal % — % — — % — % % % — — — % Education % % % % % % — — % Automobile % % — — % % % % — — — % Total consumer $ % $ % $ % $ % $ % $ % $ $ % Total $ % $ % $ % $ % $ % $ % $ $ %
Summary of loans whose terms were modified in a manner that met the definition of a TDR	March 31, March 31, 2016 2015 (Dollars in thousands) No. of Loans Balance No. of Loans Balance Commercial: Commercial real estate — $ — $ Commercial business loans — — — — Commercial construction — — — — Total commercial — — Residential: Residential real estate Residential construction — — — — Total real estate loans Consumer loans: Home equity & lines of credit Automobile — — — — Total consumer loans Total loans $ $
Summary of Troubled Debt Restructured Loans	For the Three Months Ended March 31, 2016 (Dollars in thousands, except number of loans) No. of Loans Balance Loans modified during the period in a manner that met the definition of a TDR — $ — Modifications granted: Reduction of outstanding principal due — — Deferral of principal amounts due — — Temporary reduction in interest rate — — Deferral of interest due — — Below market interest rate granted — — Outstanding principal balance immediately before modification — — Outstanding principal balance immediately after modification — — Aggregate principal charge-off recognized on TDRs outstanding at period end since origination — — Outstanding principal balance at period end TDRs that re-defaulted subsequent to being modified (in the past twelve months) — — For the Three Months Ended March 31, 2015 (Dollars in thousands, except number of loans) No. of Loans Balance Loans modified during the period in a manner that met the definition of a TDR $ Modifications granted: Reduction of outstanding principal due — — Deferral of principal amounts due Temporary reduction in interest rate — — Deferral of interest due — — Below market interest rate granted — — Outstanding principal balance immediately before modification Outstanding principal balance immediately after modification Aggregate principal charge-off recognized on TDRs outstanding at period end since origination — — Outstanding principal balance at period end TDRs that re-defaulted subsequent to being modified (in the past twelve months) — —
Summary of components of impaired loans	Impaired Loans Year to date March 31, 2016 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized Using Cash Basis Impaired loans with no related specific allowance recorded: Commercial Real Estate $ $ $ — $ $ — $ — Commercial Business — — — Commercial Construction — — — — — Residential Real Estate — — — Residential Construction — — — Home Equity and Lines of Credit — — — Personal — — — Education — — — — — — Auto — — — — — — Total Impaired Loans: $ $ $ — $ $ — $ — Commercial — — — Residential — — — Consumer — — — Total $ $ $ — $ $ — $ — Impaired Loans For the Year Ended December 31, 2015 (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Recognized Using Cash Basis Impaired loans with no related specific allowance recorded: Commercial Real Estate $ $ $ — $ $ — $ — Commercial Business — — — Commercial Construction — — — Residential Real Estate — — — Residential Construction — — — Home Equity and Lines of Credit — — — Personal — — — — — Education — — — — — — Auto — — — — — Total Impaired Loans: $ $ $ — $ $ — $ — Commercial — — — Residential — — — Consumer — — — Total $ $ $ — $ $ — $ —
Consumer
Loans disclosures
Schedule of amounts and percentage of the portfolio of classified asset categories	Credit Risk Profile Based on Payment Activity March 31, 2016 (Dollars in thousands) Home Equity & Lines of Credit Personal Education Auto Total Performing $ % $ % $ % $ % $ % Non-performing % — % % — — % % Total $ % $ % $ % $ % $ % December 31, 2015 Home Equity & Lines of Credit Personal Education Auto Total Performing $ % $ % $ % $ % $ % Non-performing % — — % % — — % % Total $ % $ % $ % $ % $ %
Commercial And Residential Loan
Loans disclosures
Schedule of amounts and percentage of the portfolio of classified asset categories	Commercial and Residential Loans Credit Risk Internally Assigned March 31, 2016 Commercial Commercial Commercial Residential Residential (Dollars in thousands) Real Estate Business Construction Real Estate Construction Total Grade Pass $ % $ % $ % $ % $ % $ % Special Mention — % % — — % — — % — — % — % Substandard % % — — % % % % Doubtful — — % — — % — — % — — % — — % — — % Total $ % $ % $ % $ % $ % $ % December 31, 2015 Commercial Commercial Commercial Residential Residential Real Estate Business Construction Real Estate Construction Total Grade Pass $ % $ % $ % $ % $ % $ % Special Mention % % — — % — — % — — % % Substandard % % — % % % % Doubtful — — % — — % — — % — — % — — % — — % Total $ % $ % $ % $ % $ % $ %

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2016
GOODWILL AND OTHER INTANGIBLES
Schedule of goodwill and other intangibles	(Dollars in thousands) Goodwill Intangibles Balance at January 1, 2016 $ $ Additions — — Amortization — ) Balance at March 31, 2016 $ $

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
OTHER ASSETS.
Schedule of other assets	March 31, December 31, (Dollars in thousands) 2016 2015 Investments in affordable housing and other partnerships $ $ Prepaid assets Net deferred tax assets Other real estate Fixed assets held for sale Mortgage servicing rights Prepaid and other assets Total other assets $ $

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2016
DEPOSITS
Schedule of major classifications of deposits	March 31, % of Total December 31, % of Total (Dollars in thousands) 2016 Deposits 2015 Deposits Non-interest bearing deposits $ % $ % Interest-earning checking accounts % % Municipal checking accounts % % Money market accounts % % Savings accounts % % Certificates of deposit % % Total deposits $ % $ %

BORROWED FUNDS (Tables)

BORROWED FUNDS (Tables)	3 Months Ended
	Mar. 31, 2016
BORROWED FUNDS
Schedule of borrowed funds	(Dollars in thousands) March 31, 2016 December 31, 2015 FHLB advances $ $ Statutory trust debenture Total borrowed funds $ $

REGULATORY CAPITAL REQUIREMEN39

REGULATORY CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Summary of bank's actual capital amounts and ratios	Actual For Capital Adequacy Purposes To Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars in thousands) Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio As of March 31, 2016: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % % As of December 31, 2015: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % %
The Bank
Summary of bank's actual capital amounts and ratios	To Be Well Capitalized For Capital Under Prompt Corrective Actual Adequacy Purposes Action Provisions (Dollars in thousands) Capital Amount Ratio Capital Amount Ratio Capital Amount Ratio As of March 31, 2016: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % % As of December 31, 2015: Tier 1 Leverage (to average assets) $ % $ % $ % Common Equity Tier 1 Capital (to risk weighted assets) % % % Tier 1 Capital (to risk weighted assets) % % % Total Capital (to risk weighted assets) % % %

PENSION AND OTHER POSTRETIREM40

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
Schedule of components of net pension cost	Pension Benefits Other Postretirement Benefits Three Months Ended March 31, Three Months Ended March 31, (Dollars in thousands) 2016 2015 2016 2015 Service cost $ — $ — $ $ Interest cost Expected return on assets ) ) — — Amortization of loss Amortization of prior service cost — — ) ) Net periodic pension (benefit) cost $ ) $ ) $ $

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2016
STOCK BASED COMPENSATION
Summary of non-vested stock award activity	Summary of Non-vested Stock Award Activity Number of Shares Weighted Average Grant Price Non-vested Stock Awards outstanding, January 1, 2016 $ Issued Vested ) Forfeited ) Non-vested Stock Awards outstanding, March 31, 2016 Summary of Non-vested Stock Award Activity Number of Shares Weighted Average Grant Price Non-vested Stock Awards outstanding, January 1, 2015 $ Issued Vested ) Forfeited ) Non-vested Stock Awards outstanding, March 31, 2015
Summary of stock option activity	Number of Options Weighted Exercise Price per Shares January 1, 2016 $ Granted — — Exercised ) Forfeited ) Expired — — March 31, 2016 Number of Options Weighted Exercise Price per Shares January 1, 2015 $ Granted Exercised ) Forfeited ) Expired ) March 31, 2015
Schedule of weighted average assumptions used to calculate the fair value of the options	For the Three Months Ended March 31, 2015 Weighted average fair value of options granted $ Weighted average risk-free rate of return % Weighted average expected option life in months Weighted average expected volatility % Expected dividends $ —

FAIR VALUE OF FINANCIAL INSTR42

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value of assets and liabilities measured on a recurring basis	Those assets which will continue to be measured at fair value on a recurring basis are as follows at March 31, 2016: Category Used for Fair Value Measurement (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Mortgage servicing rights $ — $ — $ $ Investment securities available for sale: U.S. GSE and agency notes — — Ginnie Mae guaranteed mortgage certificates — — Collateralized mortgage obligations (“CMOs”) GSE CMOs — — GSE mortgage-backed securities — — Municipal bonds General obligation municipal bonds — — Revenue municipal bonds — — Corporate securities — — Money market funds — — Mutual funds — — Interest rate swap agreements — — Total Assets $ $ $ $ Liabilities: Interest rate swap agreements and other contracts $ — $ $ — $ Total Liabilities $ — $ $ — $ Those assets which will continue to be measured at fair value on a recurring basis are as follows at December 31, 2015: Category Used for Fair Value Measurement (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Mortgage servicing rights $ — $ — $ $ Investment securities available for sale: U.S. GSE and agency notes — — Ginnie Mae guaranteed mortgage securities — — Collateralized mortgage obligations (“CMOs”) GSE CMOs — — GSE mortgage-backed securities — — Municipal bonds General obligation municipal bonds — — Revenue municipal bonds — — Corporate securities — — Money market funds — — Mutual funds — — Interest rate swap agreements — — Total Assets $ $ $ $ Liabilities: Interest rate swap agreements $ — $ $ — $ Total Liabilities $ — $ $ — $
Summary of assets measured at fair value on a recurring basis using significant unobservable inputs	Level 3 Investments Only For the Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Mortgage Servicing Rights Mortgage Servicing Rights Balance, January 1, $ $ Additions Payments ) ) Decrease in fair value due to changes in valuation inputs or assumptions ) ) Balance, March 31, $ $
Assets measured at fair value on a nonrecurring basis	Balance Transferred YTD (Dollars in thousands) March 31, 2016 Level 1 Level 2 Level 3 Gains/(Losses) Impaired loans $ $ — $ — $ $ ) Other real estate owned — — — Balance Transferred YTD (Dollars in thousands) March 31, 2015 Level 1 Level 2 Level 3 Gains/(Losses) Impaired loans $ $ — $ — $ $ ) Other real estate owned — — —
Schedule of carrying and estimated fair value of financial assets and liabilities	Fair Value of Financial Instruments At March 31, 2016 At December 31, 2015 Estimated Estimated Fair Value Carrying Fair Carrying Fair (Dollars in thousands) Hierarchy Level Amount Value Amount Value Assets: Cash and cash equivalents Level 1 $ $ $ $ Securities available for sale See previous table Securities held to maturity Level 2 FHLB stock Level 3 Loans, net Level 3 Loans held for sale Level 2 — — Mortgage servicing rights Level 3 Interest rate swaps Level 2 Accrued interest receivable Level 3 Liabilities: Deposits Level 2 Borrowed funds Level 2 Interest rate swaps and other contracts Level 2 Accrued interest payable Level 2

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	3 Months Ended
	Mar. 31, 2016
MORTGAGE SERVICING RIGHTS
Schedule of residential MSRs	Residential Mortgage Servicing Rights For the Three months ended March 31, Dollars in thousands 2016 2015 Balance, January 1, $ $ Additions Decreases in fair value due to: Changes in valuation input or assumptions ) ) Paydowns ) ) Balance, March 31, $ $
Schedule of residential MSRs' favorable and unfavorable changes in key economic assumptions	Residential Residential Mortgage Servicing Rights Mortgage Servicing Rights (Dollars in thousands) March 31, 2016 March 31, 2015 Fair value of residential mortgage servicing rights $ $ Weighted average life (years) 4.7 years 5.1 years Prepayment speed Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease Discount rate Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease Escrow earnings credit Effect on fair value of a 20% increase $ $ Effect on fair value of a 10% increase Effect on fair value of a 10% decrease Effect on fair value of a 20% decrease

DERIVATIVE FINANCIAL INSTRUME44

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of fair value of derivative financial instruments and classification on the consolidated statements of condition	As of March 31, 2016 Asset derivatives Liability derivatives (Dollars in thousands) Notional amount Fair value (1) Notional amount Fair value (2) Interest rate swap agreements $ $ $ $ Risk participation agreement — — Total derivatives $ $ $ $ (1) Included in other assets in our Consolidated Statements of Financial Condition. (2) Included in other liabilities in our Consolidated Statements of Financial Condition. As of December 31, 2015 Asset derivatives Liability derivatives (dollars in thousands) Notional amount Fair value (1) Notional amount Fair value (2) Interest rate swap agreements $ $ $ $ Total derivatives $ $ $ $ (1) Included in other assets in our Consolidated Statements of Financial Condition. (2) Included in other liabilities in our Consolidated Statements of Financial Condition.
Schedule of offsetting of derivative assets	Offsetting of Derivative Assets As of March 31, 2016 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Collateral Received Net Amount Interest rate swaps $ $ — $ $ — $ — $ Offsetting of Derivative Assets As of December 31, 2015 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Assets (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets presented in the Statement of Financial Condition Financial Instruments Collateral Received Net Amount Interest rate swaps $ $ — $ $ — $ — $
Schedule of offsetting of derivative liabilities	Offsetting of Derivative Liabilities As of March 31, 2016 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Collateral Posted Net Amount Interest rate swaps and risk participation agreements $ $ — $ $ — $ $ ) (1) - Balance includes accrued interest receivable/payable and credit valuation adjustments. Offsetting of Derivative Liabilities As of December 31, 2015 (Dollars in thousands) Gross Amounts Not Offset in the Statement of Financial Condition Gross Amounts of Recognized Liabilities (1) Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities presented in the Statement of Financial Condition Financial Instruments Collateral Posted Net Amount Interest rate swaps $ $ — $ $ — $ $ ) (1) - Balance includes accrued interest receivable/payable and credit valuation adjustments.

SUMMARY OF SIGNIFICANT ACCOUN45

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Organization (Details)	3 Months Ended
	Mar. 31, 2016item
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of reportable operating segments	1

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) $ / shares in Units, $ in Millions	Jan. 12, 2015USD ($)$ / sharesshares	Mar. 31, 2016shares	Dec. 31, 2015shares
Existing outstanding common stock shares for conversion		76,741,577	82,918,595
Second-step conversion and stock offering
Gross proceeds from common stock | $	$ 503.8
Issuance of common shares (in shares)	50,383,817
Price per share (in dollars per share) | $ / shares	$ 10
Existing outstanding common stock shares for conversion	29,394,417
Exchange ratio	1.0999
Bank's employee savings and stock ownership plan | Second-step conversion and stock offering
Issuance of common shares (in shares)	2,015,352

NATURE OF OPERATIONS (Details 2

NATURE OF OPERATIONS (Details 2) - The Bank	3 Months Ended
	Mar. 31, 2016item
Percentage of outstanding common stock	100.00%
Number of offices	67

CHANGES IN AND RECLASSIFICATI48

CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in the balances of each component of accumulated other comprehensive income
BALANCE, beginning	$ 1,115,546
Changes in other comprehensive income (loss) before reclassifications:
Accretion of unrealized losses on AFS securities transferred to HTM	131	$ 137
Total other comprehensive income	4,812	2,916
BALANCE, ending	1,046,588
Accumulated Other Comprehensive Loss
Changes in the balances of each component of accumulated other comprehensive income
BALANCE, beginning	(23,374)	(22,663)
Changes in other comprehensive income (loss) before reclassifications:
Amount before reclassifications	4,370	2,431
Accretion of unrealized losses on AFS securities transferred to HTM	131	137
Amount reclassified from accumulated other comprehensive loss	311	348
Total other comprehensive income	4,812	2,916
BALANCE, ending	(18,562)	(19,747)
Net unrealized holding gains (losses) on available-for-sale securities
Changes in the balances of each component of accumulated other comprehensive income
BALANCE, beginning	542	2,711
Changes in other comprehensive income (loss) before reclassifications:
Amount before reclassifications	4,370	2,431
Accretion of unrealized losses on AFS securities transferred to HTM	131	137
Amount reclassified from accumulated other comprehensive loss	3	3
Total other comprehensive income	4,504	2,571
BALANCE, ending	5,046	5,282
Defined benefit pension plan items
Changes in the balances of each component of accumulated other comprehensive income
BALANCE, beginning	(23,916)	(25,374)
Changes in other comprehensive income (loss) before reclassifications:
Amount reclassified from accumulated other comprehensive loss	308	345
Total other comprehensive income	308	345
BALANCE, ending	$ (23,608)	$ (25,029)

CHANGES IN AND RECLASSIFICATI49

CHANGES IN AND RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassifications out of AOCI by component
Net loss on sale of investment securities	$ 4	$ 5
Income tax benefit	2,227	2,006
Net of tax	(5,023)	(5,251)
Net unrealized holding gains (losses) on available-for-sale securities
Reclassifications out of AOCI by component
Reclassification after tax	3	3
Net unrealized holding gains (losses) on available-for-sale securities | Amount reclassified from accumulated other comprehensive loss
Reclassifications out of AOCI by component
Net loss on sale of investment securities	4	5
Income tax benefit	(1)	(2)
Net of tax	3	3
Defined benefit pension plan items
Reclassifications out of AOCI by component
Reclassification after tax	308	345
Defined benefit pension plan items | Amount reclassified from accumulated other comprehensive loss
Reclassifications out of AOCI by component
Reclassification before tax	540	576
Tax effect of reclassification	(232)	(231)
Reclassification after tax	308	345
Net prior service cost or credit | Amount reclassified from accumulated other comprehensive loss
Reclassifications out of AOCI by component
Reclassification before tax	(122)	(130)
Net recognized actuarial gains or losses | Amount reclassified from accumulated other comprehensive loss
Reclassifications out of AOCI by component
Reclassification before tax	$ 662	$ 706

EARNINGS PER SHARE - Net Earnin

EARNINGS PER SHARE - Net Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic and diluted earnings per share:
Net income	$ 5,023	$ 5,251
Basic average common shares outstanding	76,162,515	78,454,187
Effect of dilutive securities	831,156	618,845
Dilutive average shares outstanding	76,993,671	79,073,032
Net earnings per share
Basic	$ 0.07	$ 0.07
Diluted	$ 0.07	$ 0.07

EARNINGS PER SHARE - Anti-dilut

EARNINGS PER SHARE - Anti-dilutive Shares (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Options
Anti-dilutive securities disclosures
Antidilutive securities excluded from computation of earnings per share amount	185,544	868,999
Restricted Stock
Anti-dilutive securities disclosures
Antidilutive securities excluded from computation of earnings per share amount		230,700

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Estimated Fair Value of Investments, Gains and Losses on Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	$ 570,785		$ 650,439
Investment securities available-for-sale , gross unrealized gain	11,973		7,658
Investment securities available-for-sale , gross unrealized losses	356		2,935
Investment securities available-for-sale, estimated fair value	582,402		655,162
Investment securities held-to-maturity, amortized cost	673,222		696,310
Investment securities held-to-maturity , gross unrealized gains	11,198		3,607
Investment securities held-to-maturity , gross unrealized losses	536		4,627
Held-to-maturity, estimated fair value (in dollars)	683,884		695,290
Gains and losses on investments
Gain (loss) on sale on investment	(4)	$ (5)
U.S. GSE and Agency notes
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	5,704		6,107
Investment securities available-for-sale , gross unrealized gain	95		2
Investment securities available-for-sale, estimated fair value	5,799		6,109
Ginnie Mae guaranteed mortgage certificates
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	4,205		4,395
Investment securities available-for-sale , gross unrealized gain	160		146
Investment securities available-for-sale, estimated fair value	4,365		4,541
GSE mortgage-backed securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	458,755		543,687
Investment securities available-for-sale , gross unrealized gain	10,042		5,963
Investment securities available-for-sale , gross unrealized losses	123		2,379
Investment securities available-for-sale, estimated fair value	468,674		547,271
Investment securities held-to-maturity, amortized cost	633,567		654,803
Investment securities held-to-maturity , gross unrealized gains	10,184		3,042
Investment securities held-to-maturity , gross unrealized losses	437		4,335
Held-to-maturity, estimated fair value (in dollars)	643,314		653,510
Collateralized mortgage obligations
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost			32,717
Investment securities available-for-sale , gross unrealized gain			37
Investment securities available-for-sale , gross unrealized losses			397
Investment securities available-for-sale, estimated fair value			32,357
Investment securities held-to-maturity, amortized cost			38,757
Investment securities held-to-maturity , gross unrealized gains			456
Investment securities held-to-maturity , gross unrealized losses			292
Held-to-maturity, estimated fair value (in dollars)			38,921
Municipal bonds
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	30,154		30,146
Investment securities available-for-sale , gross unrealized gain	1,456		1,510
Investment securities available-for-sale, estimated fair value	31,610		31,656
Investment securities held-to-maturity, amortized cost	750		750
Investment securities held-to-maturity , gross unrealized gains	73		69
Held-to-maturity, estimated fair value (in dollars)	823		819
Corporate securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	11,986		11,986
Investment securities available-for-sale , gross unrealized gain	188
Investment securities available-for-sale , gross unrealized losses	40		126
Investment securities available-for-sale, estimated fair value	12,134		11,860
Money market, mutual funds and certificates of deposit
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	29,803		21,401
Investment securities available-for-sale , gross unrealized losses	18		33
Investment securities available-for-sale, estimated fair value	29,785		21,368
Foreign bonds
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities held-to-maturity, amortized cost	2,000		2,000
Investment securities held-to-maturity , gross unrealized gains	41		40
Held-to-maturity, estimated fair value (in dollars)	2,041		$ 2,040
GSE collateralized mortgage obligations (CMOs)
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	30,178
Investment securities available-for-sale , gross unrealized gain	32
Investment securities available-for-sale , gross unrealized losses	175
Investment securities available-for-sale, estimated fair value	30,035
Investment securities held-to-maturity, amortized cost	36,905
Investment securities held-to-maturity , gross unrealized gains	900
Investment securities held-to-maturity , gross unrealized losses	99
Held-to-maturity, estimated fair value (in dollars)	37,706
Mutual funds | The Bank
Gains and losses on investments
Proceeds from sale of marketable securities	89
Gain (loss) on sale on investment	$ (4)

INVESTMENT SECURITIES - Tempora

INVESTMENT SECURITIES - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position less than twelve months	$ 106,506	$ 604,322
Unrealized losses less than twelve months	379	5,445
Fair value of securities in a continuous unrealized loss position twelve months or longer	77,865	150,506
Unrealized losses twelve months or longer	513	2,117
Fair value of securities in a continuous unrealized loss position	184,371	754,828
Total unrealized losses	892	7,562
Mortgage-backed securities
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position less than twelve months	104,546	588,681
Unrealized losses less than twelve months	339	5,296
Fair value of securities in a continuous unrealized loss position twelve months or longer	42,781	113,146
Unrealized losses twelve months or longer	221	1,418
Fair value of securities in a continuous unrealized loss position	147,327	701,827
Total unrealized losses	560	6,714
Collateralized mortgage obligations
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position less than twelve months		3,781
Unrealized losses less than twelve months		23
Fair value of securities in a continuous unrealized loss position twelve months or longer	34,621	36,819
Unrealized losses twelve months or longer	274	666
Fair value of securities in a continuous unrealized loss position	34,621	40,600
Total unrealized losses	274	689
Mutual funds
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position twelve months or longer	463	541
Unrealized losses twelve months or longer	18	33
Fair value of securities in a continuous unrealized loss position	463	541
Total unrealized losses	18	33
Debt securities
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position less than twelve months	106,506	604,322
Unrealized losses less than twelve months	379	5,445
Fair value of securities in a continuous unrealized loss position twelve months or longer	77,402	149,965
Unrealized losses twelve months or longer	495	2,084
Fair value of securities in a continuous unrealized loss position	183,908	754,287
Total unrealized losses	874	7,529
Corporate securities
Temporarily impaired securities
Fair value of securities in a continuous unrealized loss position less than twelve months	1,960	11,860
Unrealized losses less than twelve months	40	126
Fair value of securities in a continuous unrealized loss position	1,960	11,860
Total unrealized losses	40	$ 126
GSE mortgage-backed securities
Temporarily impaired securities
Total unrealized losses	560,000
GSE collateralized mortgage obligations (CMOs)
Temporarily impaired securities
Total unrealized losses	$ 274

INVESTMENT SECURITIES - Mortgag

INVESTMENT SECURITIES - Mortgage-Backed Securities and CMOs (Details)	Mar. 31, 2016
GSE mortgage-backed securities
Summary of the significant inputs used in estimating potential credit losses for pooled trust preferred securities
Percentage of unrealized loss for securities in unrealized loss position for greater than 12 months	0.50%
Percentage of unrealized loss for securities in unrealized loss position for less than 12 months	0.30%
GSE collateralized mortgage obligations (CMOs)
Summary of the significant inputs used in estimating potential credit losses for pooled trust preferred securities
Percentage of unrealized loss for securities in unrealized loss position for greater than 12 months	0.80%
Corporate securities
Summary of the significant inputs used in estimating potential credit losses for pooled trust preferred securities
Percentage of unrealized loss for securities in unrealized loss position for less than 12 months	2.00%

INVESTMENT SECURITIES - Investm

INVESTMENT SECURITIES - Investment Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale, amortized cost
Due after one year through five years, amortized cost	$ 9,247	$ 8,696
Due after five years through ten years, amortized cost	38,597	39,543
Mortgage-backed securities, amortized cost	493,138	580,799
Money market and mutual funds, amortized cost	29,803	21,401
Investment securities available-for-sale, amortized cost	570,785	650,439
Available-for-sale, fair value
Due after one year through five years, fair value	9,526	9,025
Due after five years through ten years, fair value	40,017	40,600
Mortgage-backed securities, fair value	503,074	584,169
Money market and mutual funds, fair value	29,785	21,368
Investment securities available-for-sale, estimated fair value	582,402	655,162
Held-to-maturity, amortized cost
Due in one year or less, amortized cost	120	120
Due after one year through five years, amortized cost	2,505	2,505
Due after five years through ten years, amortized cost	125	125
Mortgage-backed securities, amortized cost	670,472	693,560
Investment securities held-to-maturity, amortized cost	673,222	696,310
Held-to-maturity, fair value
Due in one year or less, fair value	122	123
Due after one year through five years, fair value	2,595	2,592
Due after five years through ten years, fair value	147	144
Mortgage-backed securities, fair value	681,020	692,431
Investment securities held-to-maturity, estimated fair value	$ 683,884	$ 695,290

INVESTMENT SECURITIES - Securit

INVESTMENT SECURITIES - Securities Pledges as Collateral (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Interest rate swaps
Investment disclosures
Securities pledged as collateral	$ 548	$ 458
Municipal Deposits
Investment disclosures
Securities pledged as collateral	$ 75,600	$ 75,700

LOANS - Summary of Loans by Cla

LOANS - Summary of Loans by Classification (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loans disclosures
Total loans	$ 3,151,785		$ 2,941,446
Allowance for loan losses	(45,234)	$ (49,144)	(45,500)	$ (50,654)
Net loans	3,106,551		2,895,946
Loans activity
Mortgage banking (loss) income	(28)	127
Shared national credits
Loans disclosures
Total loans	227,200
Loans activity
Minimum loan commitment amount shared by banks	20,000
Amount of leveraged lending transactions	$ 127,400
Shared national credits | Minimum
Loans activity
Number of banks which shares amount of loan commitments | item	3
Term of variable rate loans	1 year
Shared national credits | Maximum
Loans activity
Total amount of leveraged loans	$ 150,000
Single obligor leveraged loans amount	$ 15,000
Single industry concentrations (as a percent)	30.00%
Term of variable rate loans	7 years
Commercial
Loans disclosures
Total loans	$ 1,792,477		1,583,851
Commercial | Real estate
Loans disclosures
Total loans	1,152,559		971,086
Allowance for loan losses	(24,312)		(22,640)	(18,016)
Loans activity
Amount of loans held that relate to a participation in a portfolio of multi-family loans	117,500
Commercial | Business loans
Loans disclosures
Total loans	510,423		496,313
Allowance for loan losses	(11,823)		(11,856)	(18,264)
Commercial | Construction
Loans disclosures
Total loans	129,495		116,452
Allowance for loan losses	(2,439)		(2,335)	(2,343)
Residential
Loans disclosures
Total loans	738,730		735,724
Loans activity
Loans held for sale	0		1,200
Mortgage banking (loss) income	$ (28)	127
Servicing fee (as a percent)	25.00%
Residential | The Bank
Loans activity
Residential mortgage loans sold	$ 4,100	$ 5,500
Residential | Real estate
Loans disclosures
Total loans	738,477		735,468
Allowance for loan losses	(1,615)		(1,644)	(1,960)
Residential | Construction
Loans disclosures
Total loans	253		256
Consumer
Loans disclosures
Total loans	620,578		621,871
Consumer | Home equity and lines of credit
Loans disclosures
Total loans	228,869		231,808
Allowance for loan losses	(1,612)		(2,356)	(2,669)
Consumer | Personal
Loans disclosures
Total loans	18,959		20,640
Allowance for loan losses	(372)		(436)	(1,957)
Consumer | Education
Loans disclosures
Total loans	177,087		181,646
Allowance for loan losses	(131)		(125)	(285)
Consumer | Automobile
Loans disclosures
Total loans	195,663		187,777
Allowance for loan losses	$ (2,930)		$ (4,108)	$ (4,610)

LOANS - Allowance for Loan Loss

LOANS - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Allowance for loan losses:
Balance, beginning of year	$ 45,500	$ 50,654	$ 50,654
Provision (credit) for loan losses		(2,000)	(3,600)
Charge-offs	(742)	(1,462)	(6,302)
Recoveries	476	1,952	4,748
Balance, end of period	45,234	49,144	45,500
Allowance for loan losses:
Collectively evaluated for impairment				$ 45,234	$ 45,500
Total Allowance	$ 45,500	50,654	50,654	45,234	45,500
Financing receivables:
Individually evaluated for impairment				33,906	35,173
Collectively evaluated for impairment				3,117,879	2,906,273
Total Portfolio				3,151,785	2,941,446
Collateral or discounted cash flow deficiency for loans, period when charged off	90 days
Unallocated
Allowance for loan losses:
Balance, beginning of year		550	550
Provision (credit) for loan losses			(550)
Allowance for loan losses:
Total Allowance		550	550
Commercial
Financing receivables:
Total Portfolio				1,792,477	1,583,851
Commercial | Real estate
Allowance for loan losses:
Balance, beginning of year	$ 22,640	18,016	18,016
Provision (credit) for loan losses	1,658		6,310
Charge-offs			(2,333)
Recoveries	14		647
Balance, end of period	24,312		22,640
Allowance for loan losses:
Collectively evaluated for impairment				24,312	22,640
Total Allowance	22,640	18,016	18,016	24,312	22,640
Financing receivables:
Individually evaluated for impairment				17,806	17,943
Collectively evaluated for impairment				1,134,753	953,143
Total Portfolio				1,152,559	971,086
Commercial | Business loans
Allowance for loan losses:
Balance, beginning of year	11,856	18,264	18,264
Provision (credit) for loan losses	52		(8,464)
Charge-offs	(96)		(703)
Recoveries	11		2,759
Balance, end of period	11,823		11,856
Allowance for loan losses:
Collectively evaluated for impairment				11,823	11,856
Total Allowance	11,856	18,264	18,264	11,823	11,856
Financing receivables:
Individually evaluated for impairment				2,154	2,287
Collectively evaluated for impairment				508,269	494,026
Total Portfolio				510,423	496,313
Commercial | Construction
Allowance for loan losses:
Balance, beginning of year	2,335	2,343	2,343
Provision (credit) for loan losses	101		(110)
Recoveries	3		102
Balance, end of period	2,439		2,335
Allowance for loan losses:
Collectively evaluated for impairment				2,439	2,335
Total Allowance	2,335	2,343	2,343	2,439	2,335
Financing receivables:
Individually evaluated for impairment					41
Collectively evaluated for impairment				129,495	116,411
Total Portfolio				129,495	116,452
Residential
Financing receivables:
Total Portfolio				738,730	735,724
Residential | Real estate
Allowance for loan losses:
Balance, beginning of year	1,644	1,960	1,960
Provision (credit) for loan losses	45		(49)
Charge-offs	(75)		(283)
Recoveries	1		16
Balance, end of period	1,615		1,644
Allowance for loan losses:
Collectively evaluated for impairment				1,615	1,644
Total Allowance	1,644	1,960	1,960	1,615	1,644
Financing receivables:
Individually evaluated for impairment				11,776	12,634
Collectively evaluated for impairment				726,701	722,834
Total Portfolio				738,477	735,468
Residential | Construction
Financing receivables:
Individually evaluated for impairment				253	256
Total Portfolio				253	256
Consumer
Financing receivables:
Total Portfolio				620,578	621,871
Consumer | Home equity and lines of credit
Allowance for loan losses:
Balance, beginning of year	2,356	2,669	2,669
Provision (credit) for loan losses	(657)		98
Charge-offs	(102)		(584)
Recoveries	15		173
Balance, end of period	1,612		2,356
Allowance for loan losses:
Collectively evaluated for impairment				1,612	2,356
Total Allowance	2,356	2,669	2,669	1,612	2,356
Financing receivables:
Individually evaluated for impairment				1,883	2,002
Collectively evaluated for impairment				226,986	229,806
Total Portfolio				228,869	231,808
Consumer | Personal
Allowance for loan losses:
Balance, beginning of year	436	1,957	1,957
Provision (credit) for loan losses	(171)		(1,169)
Charge-offs	(17)		(505)
Recoveries	124		153
Balance, end of period	372		436
Allowance for loan losses:
Collectively evaluated for impairment				372	436
Total Allowance	436	1,957	1,957	372	436
Financing receivables:
Individually evaluated for impairment				34	10
Collectively evaluated for impairment				18,925	20,630
Total Portfolio				18,959	20,640
Consumer | Education
Allowance for loan losses:
Balance, beginning of year	125	285	285
Provision (credit) for loan losses	52		(40)
Charge-offs	(46)		(120)
Balance, end of period	131		125
Allowance for loan losses:
Collectively evaluated for impairment				131	125
Total Allowance	125	285	285	131	125
Financing receivables:
Collectively evaluated for impairment				177,087	181,646
Total Portfolio				177,087	181,646
Consumer | Automobile
Allowance for loan losses:
Balance, beginning of year	4,108	4,610	4,610
Provision (credit) for loan losses	(1,080)		374
Charge-offs	(406)		(1,774)
Recoveries	308		898
Balance, end of period	2,930		4,108
Allowance for loan losses:
Collectively evaluated for impairment				2,930	4,108
Total Allowance	$ 4,108	$ 4,610	$ 4,610	2,930	4,108
Financing receivables:
Collectively evaluated for impairment				195,663	187,777
Total Portfolio				$ 195,663	$ 187,777

LOANS - Portfolio Amounts and P

LOANS - Portfolio Amounts and Percentages by Classification (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Amounts and percentage of portfolio
Amount of portfolio	$ 3,151,785	$ 2,941,446
Commercial And Residential Loans
Amounts and percentage of portfolio
Amount of portfolio	$ 2,531,207	$ 2,319,575
Percentage of portfolio	100.00%	100.00%
Commercial
Amounts and percentage of portfolio
Amount of portfolio	$ 1,792,477	$ 1,583,851
Commercial | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 1,152,559	$ 971,086
Percentage of portfolio	100.00%	100.00%
Commercial | Business loans
Amounts and percentage of portfolio
Amount of portfolio	$ 510,423	$ 496,313
Percentage of portfolio	100.00%	100.00%
Commercial | Construction
Amounts and percentage of portfolio
Amount of portfolio	$ 129,495	$ 116,452
Percentage of portfolio	100.00%	100.00%
Residential
Amounts and percentage of portfolio
Amount of portfolio	$ 738,730	$ 735,724
Residential | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 738,477	$ 735,468
Percentage of portfolio	100.00%	100.00%
Residential | Construction
Amounts and percentage of portfolio
Amount of portfolio	$ 253	$ 256
Percentage of portfolio	100.00%	100.00%
Pass | Commercial And Residential Loans
Amounts and percentage of portfolio
Amount of portfolio	$ 2,493,653	$ 2,272,821
Percentage of portfolio	99.00%	98.00%
Pass | Commercial | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 1,136,663	$ 953,761
Percentage of portfolio	99.00%	98.00%
Pass | Commercial | Business loans
Amounts and percentage of portfolio
Amount of portfolio	$ 494,814	$ 473,653
Percentage of portfolio	97.00%	95.00%
Pass | Commercial | Construction
Amounts and percentage of portfolio
Amount of portfolio	$ 129,495	$ 116,411
Percentage of portfolio	100.00%	100.00%
Pass | Residential | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 732,558	$ 728,870
Percentage of portfolio	99.00%	99.00%
Pass | Residential | Construction
Amounts and percentage of portfolio
Amount of portfolio	$ 123	$ 126
Percentage of portfolio	49.00%	49.00%
Special Mention | Commercial And Residential Loans
Amounts and percentage of portfolio
Amount of portfolio	$ 8,044	$ 15,190
Percentage of portfolio		1.00%
Special Mention | Commercial | Real estate
Amounts and percentage of portfolio
Amount of portfolio	4,756	$ 6,465
Percentage of portfolio		1.00%
Special Mention | Commercial | Business loans
Amounts and percentage of portfolio
Amount of portfolio	$ 3,288	$ 8,725
Percentage of portfolio	1.00%	2.00%
Substandard | Commercial And Residential Loans
Amounts and percentage of portfolio
Amount of portfolio	$ 29,510	$ 31,564
Percentage of portfolio	1.00%	1.00%
Substandard | Commercial | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 11,140	$ 10,860
Percentage of portfolio	1.00%	1.00%
Substandard | Commercial | Business loans
Amounts and percentage of portfolio
Amount of portfolio	$ 12,321	$ 13,935
Percentage of portfolio	2.00%	3.00%
Substandard | Commercial | Construction
Amounts and percentage of portfolio
Amount of portfolio		$ 41
Substandard | Residential | Real estate
Amounts and percentage of portfolio
Amount of portfolio	$ 5,919	$ 6,598
Percentage of portfolio	1.00%	1.00%
Substandard | Residential | Construction
Amounts and percentage of portfolio
Amount of portfolio	$ 130	$ 130
Percentage of portfolio	51.00%	51.00%

LOANS - Consumer Loan Risk Prof

LOANS - Consumer Loan Risk Profile (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Amounts and percentage of portfolio
Amount of portfolio	$ 3,151,785	$ 2,941,446
Consumer
Amounts and percentage of portfolio
Amount of portfolio	$ 620,578	$ 621,871
Percentage of portfolio	100.00%	100.00%
Collateral deficiency for loans, period when charged off	90 days
Consumer | Home equity and lines of credit
Amounts and percentage of portfolio
Amount of portfolio	$ 228,869	$ 231,808
Percentage of portfolio	100.00%	100.00%
Consumer | Personal
Amounts and percentage of portfolio
Amount of portfolio	$ 18,959	$ 20,640
Percentage of portfolio	100.00%	100.00%
Consumer | Education
Amounts and percentage of portfolio
Amount of portfolio	$ 177,087	$ 181,646
Percentage of portfolio	100.00%	100.00%
Consumer | Automobile
Amounts and percentage of portfolio
Amount of portfolio	$ 195,663	$ 187,777
Percentage of portfolio	100.00%	100.00%
Performing | Consumer
Amounts and percentage of portfolio
Amount of portfolio	$ 597,806	$ 597,336
Percentage of portfolio	96.00%	96.00%
Performing | Consumer | Home equity and lines of credit
Amounts and percentage of portfolio
Amount of portfolio	$ 227,345	$ 230,173
Percentage of portfolio	99.00%	99.00%
Performing | Consumer | Personal
Amounts and percentage of portfolio
Amount of portfolio	$ 18,934	$ 20,640
Percentage of portfolio	100.00%	100.00%
Performing | Consumer | Education
Amounts and percentage of portfolio
Amount of portfolio	$ 155,864	$ 158,746
Percentage of portfolio	88.00%	87.00%
Performing | Consumer | Automobile
Amounts and percentage of portfolio
Amount of portfolio	$ 195,663	$ 187,777
Percentage of portfolio	100.00%	100.00%
Nonperforming | Consumer
Amounts and percentage of portfolio
Amount of portfolio	$ 22,772	$ 24,535
Percentage of portfolio	4.00%	4.00%
Nonperforming | Consumer | Home equity and lines of credit
Amounts and percentage of portfolio
Amount of portfolio	$ 1,524	$ 1,635
Percentage of portfolio	1.00%	1.00%
Nonperforming | Consumer | Personal
Amounts and percentage of portfolio
Amount of portfolio	$ 25
Nonperforming | Consumer | Education
Amounts and percentage of portfolio
Amount of portfolio	$ 21,223	$ 22,900
Percentage of portfolio	12.00%	13.00%

LOANS - Loan Delinquencies and

LOANS - Loan Delinquencies and Non-accrual Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 51,879	$ 59,344
Past due, percentage	100.00%	100.00%
Current loans	$ 3,099,906	$ 2,882,102
Current loans, percentage	100.00%	100.00%
Total Portfolio	$ 3,151,785	$ 2,941,446
Loans, percentage	100.00%	100.00%
Recorded Investment Greater Than 90 Days And Accruing	$ 21,223	$ 22,900
Non-Accruing	$ 13,731	$ 14,768
Non-Accruing, percentage	100.00%	100.00%
30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 17,987	$ 18,819
Past due, percentage	100.00%	100.00%
60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 6,999	$ 11,549
Past due, percentage	100.00%	100.00%
Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 26,893	$ 28,976
Past due, percentage	100.00%	100.00%
Commercial
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,764	$ 1,518
Past due, percentage	3.00%	2.00%
Current loans	$ 1,790,713	$ 1,582,333
Current loans, percentage	58.00%	55.00%
Total Portfolio	$ 1,792,477	$ 1,583,851
Loans, percentage	57.00%	54.00%
Non-Accruing	$ 3,236	$ 3,448
Non-Accruing, percentage	23.00%	23.00%
Commercial | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 503	$ 143
Past due, percentage	3.00%	1.00%
Commercial | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		$ 803
Past due, percentage		7.00%
Commercial | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,261	$ 572
Past due, percentage	5.00%	2.00%
Commercial | Real estate
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,294	$ 800
Past due, percentage	2.00%	1.00%
Current loans	$ 1,151,265	$ 970,286
Current loans, percentage	38.00%	34.00%
Total Portfolio	$ 1,152,559	$ 971,086
Loans, percentage	37.00%	33.00%
Non-Accruing	$ 1,984	$ 2,029
Non-Accruing, percentage	14.00%	14.00%
Commercial | Real estate | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 503
Past due, percentage	3.00%
Commercial | Real estate | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		$ 800
Past due, percentage		7.00%
Commercial | Real estate | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 791
Past due, percentage	3.00%
Commercial | Business loans
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 470	$ 677
Past due, percentage	1.00%	1.00%
Current loans	$ 509,953	$ 495,636
Current loans, percentage	16.00%	17.00%
Total Portfolio	$ 510,423	$ 496,313
Loans, percentage	16.00%	17.00%
Non-Accruing	$ 1,252	$ 1,378
Non-Accruing, percentage	9.00%	9.00%
Commercial | Business loans | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		$ 143
Past due, percentage		1.00%
Commercial | Business loans | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		$ 3
Commercial | Business loans | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 470	$ 531
Past due, percentage	2.00%	2.00%
Commercial | Construction
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		$ 41
Current loans	$ 129,495	$ 116,411
Current loans, percentage	4.00%	4.00%
Total Portfolio	$ 129,495	$ 116,452
Loans, percentage	4.00%	4.00%
Non-Accruing		$ 41
Commercial | Construction | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due		41
Residential
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 5,439	$ 5,980
Past due, percentage	10.00%	10.00%
Current loans	$ 733,291	$ 729,744
Current loans, percentage	24.00%	25.00%
Total Portfolio	$ 738,730	$ 735,724
Loans, percentage	23.00%	25.00%
Non-Accruing	$ 8,946	$ 9,685
Non-Accruing, percentage	66.00%	65.00%
Residential | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,039	$ 1,075
Past due, percentage	6.00%	8.00%
Residential | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 765	$ 338
Past due, percentage	11.00%	3.00%
Residential | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 3,635	$ 4,567
Past due, percentage	14.00%	16.00%
Residential | Real estate
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 5,186	$ 5,724
Past due, percentage	10.00%	10.00%
Current loans	$ 733,291	$ 729,744
Current loans, percentage	24.00%	25.00%
Total Portfolio	$ 738,477	$ 735,468
Loans, percentage	23.00%	25.00%
Non-Accruing	$ 8,693	$ 9,429
Non-Accruing, percentage	64.00%	63.00%
Residential | Real estate | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,039	$ 1,075
Past due, percentage	6.00%	8.00%
Residential | Real estate | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 765	$ 338
Past due, percentage	11.00%	3.00%
Residential | Real estate | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 3,382	$ 4,311
Past due, percentage	13.00%	15.00%
Residential | Construction
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 253	$ 256
Total Portfolio	253	256
Non-Accruing	$ 253	$ 256
Non-Accruing, percentage	2.00%	2.00%
Residential | Construction | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 253	$ 256
Past due, percentage	1.00%	1.00%
Consumer
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 44,676	$ 51,846
Past due, percentage	87.00%	88.00%
Current loans	$ 575,902	$ 570,025
Current loans, percentage	18.00%	20.00%
Total Portfolio	$ 620,578	$ 621,871
Loans, percentage	20.00%	21.00%
Recorded Investment Greater Than 90 Days And Accruing	$ 21,223	$ 22,900
Non-Accruing	$ 1,549	$ 1,635
Non-Accruing, percentage	11.00%	12.00%
Consumer | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 16,445	$ 17,601
Past due, percentage	91.00%	91.00%
Consumer | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 6,234	$ 10,408
Past due, percentage	89.00%	90.00%
Consumer | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 21,997	$ 23,837
Past due, percentage	81.00%	82.00%
Consumer | Home equity and lines of credit
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 1,757	$ 1,840
Past due, percentage	3.00%	3.00%
Current loans	$ 227,112	$ 229,968
Current loans, percentage	7.00%	8.00%
Total Portfolio	$ 228,869	$ 231,808
Loans, percentage	7.00%	8.00%
Non-Accruing	$ 1,524	$ 1,635
Non-Accruing, percentage	11.00%	12.00%
Consumer | Home equity and lines of credit | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 750	$ 762
Past due, percentage	4.00%	4.00%
Consumer | Home equity and lines of credit | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 233	$ 141
Past due, percentage	3.00%	1.00%
Consumer | Home equity and lines of credit | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 774	$ 937
Past due, percentage	3.00%	3.00%
Consumer | Personal
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 427	$ 220
Past due, percentage	1.00%
Current loans	$ 18,532	$ 20,420
Current loans, percentage	1.00%	1.00%
Total Portfolio	$ 18,959	$ 20,640
Loans, percentage	1.00%	1.00%
Non-Accruing	$ 25
Consumer | Personal | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 245	$ 209
Past due, percentage	1.00%	1.00%
Consumer | Personal | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 182	$ 11
Past due, percentage	3.00%
Consumer | Education
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 39,769	$ 46,363
Past due, percentage	78.00%	79.00%
Current loans	$ 137,318	$ 135,283
Current loans, percentage	4.00%	5.00%
Total Portfolio	$ 177,087	$ 181,646
Loans, percentage	6.00%	6.00%
Recorded Investment Greater Than 90 Days And Accruing	$ 21,223	$ 22,900
Consumer | Education | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 12,908	$ 13,536
Past due, percentage	72.00%	70.00%
Consumer | Education | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 5,638	$ 9,927
Past due, percentage	80.00%	86.00%
Consumer | Education | Greater than 90 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 21,223	$ 22,900
Past due, percentage	78.00%	79.00%
Consumer | Automobile
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 2,723	$ 3,423
Past due, percentage	5.00%	6.00%
Current loans	$ 192,940	$ 184,354
Current loans, percentage	6.00%	6.00%
Total Portfolio	$ 195,663	$ 187,777
Loans, percentage	6.00%	6.00%
Consumer | Automobile | 30-59 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 2,542	$ 3,094
Past due, percentage	14.00%	16.00%
Consumer | Automobile | 60-89 Days Past Due
Summary of Aged Analysis of Past Due and Non-accrual Loans
Loans past due	$ 181	$ 329
Past due, percentage	3.00%	3.00%

LOANS - Troubled Debt Restructu

LOANS - Troubled Debt Restructured Loans by Classification (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)item
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Period of sustained performance based on the restructured terms	6 months
Number of TDR loans at period end | item	6	7
Outstanding principal balance of TDR loans at period end | $	$ 709	$ 1,983
Commercial
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item		3
Outstanding principal balance of TDR loans at period end | $		$ 1,383
Commercial | Real estate
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item		3
Outstanding principal balance of TDR loans at period end | $		$ 1,383
Residential
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item	5	3
Outstanding principal balance of TDR loans at period end | $	$ 515	$ 371
Residential | Real estate
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item	5	3
Outstanding principal balance of TDR loans at period end | $	$ 515	$ 371
Consumer
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item	1	1
Outstanding principal balance of TDR loans at period end | $	$ 194	$ 229
Consumer | Home equity and lines of credit
Summary of loans whose terms were modified in a manner that met the definition of a TDR
Number of TDR loans at period end | item	1	1
Outstanding principal balance of TDR loans at period end | $	$ 194	$ 229

LOANS - Summary of Troubled Deb

LOANS - Summary of Troubled Debt Restructured Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)item
Summary of troubled debt restructured loans
Number of loans modified | item		4
Outstanding principal balance of loans modified | $		$ 1,534
No. of Loans immediately before modification | item		4
Outstanding principal balance immediately before modification | $		$ 1,534
No. of Loans immediately after modification | item		4
Outstanding principal balance immediately after modification | $		$ 1,534
Number of TDR loans at period end | item	6	7
Outstanding principal balance of TDR loans at period end | $	$ 709	$ 1,983
Deferral of principal amounts due
Summary of troubled debt restructured loans
Number of loans modified | item		4
Outstanding principal balance of loans modified | $		$ 1,534

LOANS - Impaired Loans (Details

LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Components of Impaired Loans
Recorded investment	$ 13,731	$ 14,917
Unpaid principal balance	14,737	15,768
Average recorded investment	14,185	13,945
Interest income recognizable as per original terms	202
Nonperforming loans, both nonaccrual and accrual	35,800	37,700
Commercial
Components of Impaired Loans
Recorded investment	3,236	3,448
Unpaid principal balance	3,332	3,448
Average recorded investment	3,354	3,706
Commercial | Real estate
Components of Impaired Loans
Recorded investment	1,984	2,029
Unpaid principal balance	1,984	2,029
Average recorded investment	2,008	1,654
Commercial | Business loans
Components of Impaired Loans
Recorded investment	1,252	1,378
Unpaid principal balance	1,348	1,378
Average recorded investment	1,315	1,707
Commercial | Construction
Components of Impaired Loans
Recorded investment		41
Unpaid principal balance		41
Average recorded investment	31	345
Residential
Components of Impaired Loans
Recorded investment	8,946	9,834
Unpaid principal balance	9,837	10,675
Average recorded investment	9,246	8,513
Residential | Real estate
Components of Impaired Loans
Recorded investment	8,693	9,578
Unpaid principal balance	9,376	10,211
Average recorded investment	8,992	8,249
Residential | Construction
Components of Impaired Loans
Recorded investment	253	256
Unpaid principal balance	461	464
Average recorded investment	254	264
Consumer
Components of Impaired Loans
Recorded investment	1,549	1,635
Unpaid principal balance	1,568	1,645
Average recorded investment	1,585	1,726
Consumer | Home equity and lines of credit
Components of Impaired Loans
Recorded investment	1,524	1,635
Unpaid principal balance	1,543	1,645
Average recorded investment	1,573	1,711
Consumer | Personal
Components of Impaired Loans
Recorded investment	25
Unpaid principal balance	25
Average recorded investment	12	12
Consumer | Education
Components of Impaired Loans
Nonperforming loans, both nonaccrual and accrual	$ 21,200	22,900
Consumer | Automobile
Components of Impaired Loans
Average recorded investment		$ 3

GOODWILL AND OTHER INTANGIBLE65

GOODWILL AND OTHER INTANGIBLES - Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Summary of goodwill
Balance at the end of the period	$ 121,973
Beneficial Insurance Services, LLC
Additional disclosures
Impairment	$ 0

GOODWILL AND OTHER INTANGIBLE66

GOODWILL AND OTHER INTANGIBLES - Intangible Assets and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Goodwill and Other Intangibles
Impairment		$ 0
Summary of intangible assets
Balance at the beginning of the period	$ 4,389
Amortization		$ (474)
Balance at the end of the period	$ 3,915
Core Deposits
Goodwill and Other Intangibles
Estimated useful life	10 years
Summary of intangible assets
Balance at the end of the period	$ 2,000
Customer list
Summary of intangible assets
Balance at the end of the period	$ 1,900
Customer list | Minimum
Goodwill and Other Intangibles
Estimated useful life	4 years
Customer list | Maximum
Goodwill and Other Intangibles
Estimated useful life	6 years

OTHER ASSETS - Summary of Other

OTHER ASSETS - Summary of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
OTHER ASSETS:
Investments in affordable housing and other partnerships	$ 8,506	$ 9,317
Prepaid assets	2,624	2,120
Net deferred tax assets	34,950	37,778
Other real estate	827	1,276
Fixed assets held for sale	744	744
Mortgage servicing rights	1,137	1,349
Prepaid and other assets	4,938	5,287
Total other assets	$ 53,726	$ 57,871

DEPOSITS - Deposits by Major Cl

DEPOSITS - Deposits by Major Classification (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
DEPOSITS
Non-interest bearing deposits	$ 409,716	$ 409,232
Interest-earning checking accounts	778,816	757,719
Municipal checking accounts	118,207	132,642
Money market accounts	401,332	389,403
Savings accounts	1,168,683	1,132,842
Certificates of deposit	633,736	630,085
Total deposits	$ 3,510,490	$ 3,451,923
Non-interest bearing deposits, percentage	11.70%	11.80%
Interest-earning checking accounts, percentage	22.20%	22.00%
Municipal checking accounts, percentage	3.40%	3.80%
Money market accounts, percentage	11.40%	11.30%
Savings accounts, percentage	33.30%	32.80%
Certificates of deposit, percentage	18.00%	18.30%
Total deposits, percentage	100.00%	100.00%

BORROWED FUNDS - Summary of Bor

BORROWED FUNDS - Summary of Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Summary of borrowed funds
FHLB advances	$ 165,000	$ 165,000
Statutory trust debenture	25,410	25,405
Borrowed funds	$ 190,410	$ 190,405

BORROWED FUNDS - Loans Pledged

BORROWED FUNDS - Loans Pledged as Collateral (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Federal Reserve Bank borrowings | Federal Reserve Bank Of Philadelphia
Borrowed funds
Loans pledged to secure borrowing capacity	$ 237.2	$ 235.8

BORROWED FUNDS - FHLB Advances

BORROWED FUNDS - FHLB Advances (Details) - The Bank - FHLB Pittsburgh $ in Millions	Mar. 31, 2016USD ($)
Future borrowing arrangement from April 2016 through April 2019
FHLB Advances disclosures
Maximum borrowing capacity of FHLB advances	$ 200
Future borrowing arrangement from March 2017 through March 2020
FHLB Advances disclosures
Maximum borrowing capacity of FHLB advances	$ 75

REGULATORY CAPITAL REQUIREMEN72

REGULATORY CAPITAL REQUIREMENTS - Summary of Requirements (Details)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Summary of regulatory capital requirements and ratios
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	29.15%	33.36%
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	29.89%	34.13%
Total Capital (to risk weighted assets), ratio (as a percent)	31.14%	35.38%
Tier 1 Leverage ratio (as a percent)	20.58%	22.38%
Federal Deposit Corporation And Federal Reserve Board
Summary of regulatory capital requirements and ratios
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	4.00%
Federal Deposit Corporation And Federal Reserve Board | Rules Effective January 1, 2015
Summary of regulatory capital requirements and ratios
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	4.50%
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	6.00%
Total Capital (to risk weighted assets), ratio (as a percent)	8.00%
Tier 1 Leverage ratio (as a percent)	4.00%
Federal Deposit Corporation And Federal Reserve Board | Rules Phased in beginning January 2016
Summary of regulatory capital requirements and ratios
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	7.00%
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	8.50%
Total Capital (to risk weighted assets), ratio (as a percent)	10.50%
Additional Common Equity Tier 1 (to risk weighted assets), ratio (as a percent)	2.50%
New Capital Conservation Buffer Requirement Beginning Ratio	0.625%

REGULATORY CAPITAL REQUIREMEN73

REGULATORY CAPITAL REQUIREMENTS - Summary of Compliance (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Tier 1 Leverage
Tier 1 Leverage, actual, capital amount	$ 962,503	$ 1,036,850
Tier 1 Leverage (to average assets), actual, ratio (as a percent)	20.58%	22.38%
Tier 1 Leverage, for capital adequacy purposes, capital amount	$ 187,030	$ 185,332
Tier 1 Leverage (to average assets), for capital adequacy purposes, ratio (as a percent)	4.00%	4.00%
Tier 1 Leverage, to be well capitalized under prompt corrective action provisions, capital amount	$ 233,788	$ 231,665
Tier 1 Leverage (to average assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	5.00%	5.00%
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, actual, capital amount	$ 938,583	$ 1,013,680
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	29.15%	33.36%
Common Equity Tier 1 Capital, for capital adequacy, capital amount	$ 144,902	$ 136,722
Common Equity Tier 1 Capital (to risk weighted assets, for capital adequacy purposes, ratio (as a percent)	4.50%	4.50%
Common Equity Tier 1 Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 209,302	$ 197,487
Common Equity Tier 1 Capital (to risk weighted assets), to be well capitalized under prompt corrective action, ratio (as a percent)	6.50%	6.50%
Tier 1 Capital
Tier 1 Capital, actual, capital amount	$ 962,503	$ 1,036,850
Tier 1 Capital (to risk weighted assets), actual, ratio (as a percent)	29.89%	34.13%
Tier 1 Capital, for capital adequacy purposes, capital amount	$ 193,202	$ 182,296
Tier 1 Capital (to risk weighted assets), for capital adequacy purposes, ratio (as a percent)	6.00%	6.00%
Tier 1 Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 257,603	$ 243,061
Tier 1 Capital (to risk weighted assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	8.00%	8.00%
Total Capital
Total Capital, actual, capital amount	$ 1,002,836	$ 1,074,952
Total Capital (to risk weighted assets), actual, ratio (as a percent)	31.14%	35.38%
Total Capital, for capital adequacy purposes, capital amount	$ 257,603	$ 243,061
Total Capital (to risk weighted assets), for capital adequacy purposes, ratio (as a percent)	8.00%	8.00%
Total Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 322,003	$ 303,826
Total Capital (to risk weighted assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	10.00%	10.00%
The Bank
Tier 1 Leverage
Tier 1 Leverage, actual, capital amount	$ 785,182	$ 780,713
Tier 1 Leverage (to average assets), actual, ratio (as a percent)	16.81%	16.86%
Tier 1 Leverage, for capital adequacy purposes, capital amount	$ 186,869	$ 185,183
Tier 1 Leverage (to average assets), for capital adequacy purposes, ratio (as a percent)	4.00%	4.00%
Tier 1 Leverage, to be well capitalized under prompt corrective action provisions, capital amount	$ 233,586	$ 231,479
Tier 1 Leverage (to average assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	5.00%	5.00%
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, actual, capital amount	$ 785,182	$ 780,713
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	24.42%	25.74%
Common Equity Tier 1 Capital, for capital adequacy, capital amount	$ 144,690	$ 136,514
Common Equity Tier 1 Capital (to risk weighted assets, for capital adequacy purposes, ratio (as a percent)	4.50%	4.50%
Common Equity Tier 1 Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 208,997	$ 197,187
Common Equity Tier 1 Capital (to risk weighted assets), to be well capitalized under prompt corrective action, ratio (as a percent)	6.50%	6.50%
Tier 1 Capital
Tier 1 Capital, actual, capital amount	$ 785,182	$ 780,713
Tier 1 Capital (to risk weighted assets), actual, ratio (as a percent)	24.42%	25.74%
Tier 1 Capital, for capital adequacy purposes, capital amount	$ 192,920	$ 182,018
Tier 1 Capital (to risk weighted assets), for capital adequacy purposes, ratio (as a percent)	6.00%	6.00%
Tier 1 Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 257,227	$ 242,691
Tier 1 Capital (to risk weighted assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	8.00%	8.00%
Total Capital
Total Capital, actual, capital amount	$ 825,457	$ 818,758
Total Capital (to risk weighted assets), actual, ratio (as a percent)	25.67%	26.99%
Total Capital, for capital adequacy purposes, capital amount	$ 257,227	$ 242,691
Total Capital (to risk weighted assets), for capital adequacy purposes, ratio (as a percent)	8.00%	8.00%
Total Capital, to be well capitalized under prompt corrective action provisions, capital amount	$ 321,534	$ 303,364
Total Capital (to risk weighted assets), to be well capitalized under prompt corrective action provisions, ratio (as a percent)	10.00%	10.00%

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
INCOME TAXES
Income tax expense	$ 2,227	$ 2,006
Effective income tax rate (as a percent)	30.70%	27.60%
Tax at statutory rate (as a percent)	35.00%	35.00%
Increase/(reduction) in taxes resulting from:
Change in tax rate due to Tax-exempt income (as a percent)	(3.50%)	(4.10%)
Change in tax rate due to State and local income taxes (as a percent)	3.40%	2.50%
Change in tax rate due to Federal income tax credits (as a percent)	(3.90%)	(4.20%)

INCOME TAXES - Net defferred ta

INCOME TAXES - Net defferred taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
INCOME TAXES
Net deferred tax assets	$ 34,950	$ 37,778

PENSION AND OTHER POSTRETIREM76

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS - Assumptions and Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits
Components of net pension cost
Interest cost	$ 818	$ 958
Expected return on assets	(1,559)	(1,655)
Amortization of loss	623	616
Net periodic pension (benefit) cost	(118)	(81)
Other Postretirement Benefits
Components of net pension cost
Service cost	34	44
Interest cost	179	215
Amortization of loss	39	90
Amortization of prior service cost	(122)	(130)
Net periodic pension (benefit) cost	$ 130	$ 219

STOCK BASED COMPENSATION - Equi

STOCK BASED COMPENSATION - Equity Incentive Plan and Non-Vested Stock Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2008
Summary of Non-vested Stock Award Activity
Non-vested Stock Awards outstanding, Beginning balance (in shares)	616,505	534,738
Non-vested Stock Awards outstanding Weighted Average Grant Price, Beginning (in dollars per share)	$ 10	$ 8.89
Number of Shares, issued	222,017	238,900
Weighted Average Grant Price, issued (in dollars per share)	$ 12.69	$ 11.41
Number of Shares, vested	(99,738)	(85,887)
Weighted Average Grant Price, vested (in dollars per share)	$ 8.47	$ 8.52
Number of Shares, forfeited	(21,066)	(46,211)
Weighted Average Grant Price, forfeited (in dollars per share)	$ 9.89	$ 8.48
Non-vested Stock Awards outstanding, Ending balance (in shares)	717,718	641,540
Non-vested Stock Awards outstanding Weighted Average Grant Price, Ending (in dollars per share)	$ 11.05	$ 9.91
Fair value of shares vested	$ 1,300	$ 957
Stock awards
Stock Based Compensation
Award vesting period	5 years
Compensation expense	$ 413	$ 273
Equity Incentive Plan Trust
Stock Based Compensation
Common stock subscriptions, shares			1,773,463
Common stock subscriptions, value			$ 19,000
Equity Incentive Plan Trust | Restricted Stock
Stock Based Compensation
Annual vesting percentage	20.00%
Award vesting period	5 years
Common stock shares, vested	1,028,578
Common stock shares, forfeited	513,789

STOCK BASED COMPENSATION - Shar

STOCK BASED COMPENSATION - Share-Based Compensation and Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock Options
Share - based compensation disclosures
Award expiration period	10 years
Award vesting period		5 years
Compensation expense	$ 417	$ 437
Summary of stock option activity
Number of Options, Beginning balance (in shares)	3,422,241	3,568,887
Weighted Exercise Price per Shares, Beginning balance (in dollars per share)	$ 9.59	$ 9.51
Options, granted (in shares)		166,075
Weighted Exercise Price per Shares, granted (in dollars per share)		$ 11.41
Number of Options, exercised (in shares)	(140,178)	(13,030)
Weighted Exercise Price per Shares, exercised (in dollars per share)	$ 10.05	$ 8.72
Number of Options, forfeited (in shares)	(26,290)	(78,865)
Weighted Exercise Price per Shares, forfeited (in dollars per share)	$ 9.72	$ 9.14
Number of Options, expired (in shares)		(88)
Weighted Exercise Price per Shares, expired (in dollars per share)		$ 8.90
Number of Options, Ending balance (in shares)	3,255,773	3,642,979
Weighted Exercise Price per Shares, Ending balance (in dollars per share)	$ 9.57	$ 9.61
Options, additional disclosures
Weighted average remaining contractual term of options outstanding	5 years 6 months 7 days	6 years 3 months 29 days
Aggregate intrinsic value of options outstanding	$ 13,400	$ 6,200
Exercisable options (in shares)	2,306,651	2,210,328
Average weighted exercise price of exercisable options (in dollars per share)	$ 9.49	$ 9.61
Weighted average remaining contractual term of exercisable options	4 years 9 months	5 years 1 month 10 days
Aggregate intrinsic value of exercisable options	$ 9,700	$ 3,700
Unrecognized compensation cost related to options	$ 3,100	$ 4,800
Period for recognizing unrecognized compensation	2 years 7 months 2 days	3 years 4 months 21 days
Stock awards
Share - based compensation disclosures
Award vesting period	5 years
Compensation expense	$ 413	$ 273
Options, additional disclosures
Unrecognized compensation cost related non-vested stock awards granted under EIP	$ 6,400	$ 5,100
Period for recognizing unrecognized compensation	3 years 10 months 24 days	3 years 11 months 19 days

STOCK BASED COMPENSATION - Sche

STOCK BASED COMPENSATION - Schedule of Fair Value Option Award (Details)	3 Months Ended
	Mar. 31, 2015$ / shares
Schedule of Fair Value Option Award
Weighted average fair value of options granted (in dollars per share)	$ 3.98
Weighted average risk-free rate of return (as a percent)	1.74%
Weighted average expected option life	78 months
Weighted average expected volatility (as a percent)	31.19%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commitments disclosures
Outstanding commitments to purchase or originate loans	$ 20,700	$ 40,400
Commitments to customers on available lines of credit	303,600	290,400
Commitments to fund commercial construction and other advances	133,300	136,900
Commitments to customer on standby letters of credit	20,000	17,600
Reserve for unfunded commitments	$ 284	$ 275

FAIR VALUE OF FINANCIAL INSTR81

FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Mortgage servicing rights	$ 1,137	$ 1,349
Investment securities available-for-sale, estimated fair value	582,402	655,162
Interest rate swaps
Assets:
Interest rate swap agreements	433	206
U.S. GSE and Agency notes
Assets:
Investment securities available-for-sale, estimated fair value	5,799	6,109
Ginnie Mae guaranteed mortgage certificates
Assets:
Investment securities available-for-sale, estimated fair value	4,365	4,541
GSE collateralized mortgage obligations (CMOs)
Assets:
Investment securities available-for-sale, estimated fair value	30,035
GSE mortgage-backed securities
Assets:
Investment securities available-for-sale, estimated fair value	468,674	547,271
Corporate securities
Assets:
Investment securities available-for-sale, estimated fair value	12,134	11,860
Recurring
Assets:
Mortgage servicing rights	1,137	1,349
Total Assets	583,958	656,701
Liabilities:
Total Liabilities	452	202
Recurring | Interest rate swaps
Assets:
Interest rate swap agreements	419	190
Liabilities:
Derivative Liability		202
Recurring | Interest rate swap agreements and other contracts
Liabilities:
Derivative Liability	452
Recurring | U.S. GSE and Agency notes
Assets:
Investment securities available-for-sale, estimated fair value	5,799	6,109
Recurring | Ginnie Mae guaranteed mortgage certificates
Assets:
Investment securities available-for-sale, estimated fair value	4,365	4,541
Recurring | GSE collateralized mortgage obligations (CMOs)
Assets:
Investment securities available-for-sale, estimated fair value	30,035	32,357
Recurring | GSE mortgage-backed securities
Assets:
Investment securities available-for-sale, estimated fair value	468,674	547,271
Recurring | General obligation municipal bonds
Assets:
Investment securities available-for-sale, estimated fair value	14,870	14,968
Recurring | Revenue municipal bonds
Assets:
Investment securities available-for-sale, estimated fair value	16,740	16,688
Recurring | Corporate securities
Assets:
Investment securities available-for-sale, estimated fair value	12,134	11,860
Recurring | Money market funds
Assets:
Investment securities available-for-sale, estimated fair value	29,322	20,827
Recurring | Mutual funds
Assets:
Investment securities available-for-sale, estimated fair value	463	541
Recurring | Level 1
Assets:
Total Assets	29,785	21,368
Recurring | Level 1 | Money market funds
Assets:
Investment securities available-for-sale, estimated fair value	29,322	20,827
Recurring | Level 1 | Mutual funds
Assets:
Investment securities available-for-sale, estimated fair value	463	541
Recurring | Level 2
Assets:
Total Assets	553,036	633,984
Liabilities:
Total Liabilities	452	202
Recurring | Level 2 | Interest rate swaps
Assets:
Interest rate swap agreements	419	190
Liabilities:
Derivative Liability		202
Recurring | Level 2 | Interest rate swap agreements and other contracts
Liabilities:
Derivative Liability	452
Recurring | Level 2 | U.S. GSE and Agency notes
Assets:
Investment securities available-for-sale, estimated fair value	5,799	6,109
Recurring | Level 2 | Ginnie Mae guaranteed mortgage certificates
Assets:
Investment securities available-for-sale, estimated fair value	4,365	4,541
Recurring | Level 2 | GSE collateralized mortgage obligations (CMOs)
Assets:
Investment securities available-for-sale, estimated fair value	30,035	32,357
Recurring | Level 2 | GSE mortgage-backed securities
Assets:
Investment securities available-for-sale, estimated fair value	468,674	547,271
Recurring | Level 2 | General obligation municipal bonds
Assets:
Investment securities available-for-sale, estimated fair value	14,870	14,968
Recurring | Level 2 | Revenue municipal bonds
Assets:
Investment securities available-for-sale, estimated fair value	16,740	16,688
Recurring | Level 2 | Corporate securities
Assets:
Investment securities available-for-sale, estimated fair value	12,134	11,860
Recurring | Level 3
Assets:
Mortgage servicing rights	1,137	1,349
Total Assets	$ 1,137	$ 1,349

FAIR VALUE OF FINANCIAL INSTR82

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Fair Value on a Recurring Basis Using Unobservable Units (Details) - Mortgage servicing rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Summary of fair value on a recurring basis using unobservable units
Balance at the beginning of the period	$ 1,349	$ 1,403
Additions	20	51
Payments	(50)	(37)
Decrease in fair value due to changes in valuation inputs or assumptions	(182)	(83)
Balance at the end of the period	$ 1,137	$ 1,334

FAIR VALUE OF FINANCIAL INSTR83

FAIR VALUE OF FINANCIAL INSTRUMENTS - Assets and Liabilities Measured on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Assets and Liabilities Measured on Nonrecurring Basis
Impaired loans	$ 1,358	$ 3,440
Other real estate owned	366	113
Gains/(Losses) - Impaired Loans	(33)	(349)
Level 3
Assets and Liabilities Measured on Nonrecurring Basis
Impaired loans	1,358	3,440
Other real estate owned	$ 366	$ 113

FAIR VALUE OF FINANCIAL INSTR84

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value of Financial Instruments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Assets:
Securities available for sale	$ 582,402	$ 655,162
Securities held to maturity	683,884	695,290
Mortgage servicing rights	1,137	1,349
Accrued interest receivable	$ 14,794	14,298
Fair value of Financial instruments - other disclosures
Redemption price of FHLB (in dollars per share)	$ 100
Interest rate swaps
Assets:
Interest rate swaps	$ 433	206
Carrying Amount
Assets:
Securities available for sale	582,402	655,162
Carrying Amount | Level 1
Assets:
Cash and cash equivalents	111,765	233,920
Carrying Amount | Level 2
Assets:
Securities held to maturity	673,222	696,310
Loans held for sale		1,183
Interest rate swaps	419	190
Liabilities:
Deposits.	3,510,490	3,451,923
Borrowed funds	190,410	190,405
Accrued interest payable	1,447	1,728
Carrying Amount | Level 2 | Interest rate swap agreements and other contracts
Liabilities:
Derivative Liability	452	202
Carrying Amount | Level 3
Assets:
FHLB stock	8,786	8,786
Loans, net	3,106,551	2,894,763
Mortgage servicing rights	1,137	1,349
Accrued interest receivable	14,794	14,298
Estimated Fair Value
Assets:
Securities available for sale	582,402	655,162
Estimated Fair Value | Level 1
Assets:
Cash and cash equivalents	111,765	233,920
Estimated Fair Value | Level 2
Assets:
Securities held to maturity	683,884	695,290
Loans held for sale		1,210
Interest rate swaps	419	190
Liabilities:
Deposits.	3,512,736	3,453,135
Borrowed funds	188,501	184,048
Accrued interest payable	1,447	1,728
Estimated Fair Value | Level 2 | Interest rate swap agreements and other contracts
Liabilities:
Derivative Liability	452	202
Estimated Fair Value | Level 3
Assets:
FHLB stock	8,786	8,786
Loans, net	3,179,944	2,917,053
Mortgage servicing rights	1,137	1,349
Accrued interest receivable	$ 14,794	$ 14,298

MORTGAGE SERVICING RIGHTS - Ana

MORTGAGE SERVICING RIGHTS - Analysis of Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
MORTGAGE SERVICING RIGHTS
Residential mortgages serviced	$ 139,200	$ 150,900
Servicing fee income	87	95
Residential MSR's
Balance at the beginning of the period	1,349
Decreases in fair value due to:
Balance at the end of the period	1,137
Residential Mortgage Servicing Rights
Residential MSR's
Balance at the beginning of the period	1,349	1,403
Additions	20	51
Decreases in fair value due to:
Changes in valuation input or assumptions	(182)	(83)
Paydowns	(50)	(37)
Balance at the end of the period	$ 1,137	$ 1,334

MORTGAGE SERVICING RIGHTS - Sen

MORTGAGE SERVICING RIGHTS - Sensitivity of the Current Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
MORTGAGE SERVICING RIGHTS
Fair value of residential mortgage servicing rights	$ 1,137		$ 1,349
Residential Mortgage Servicing Rights
MORTGAGE SERVICING RIGHTS
Fair value of residential mortgage servicing rights	$ 1,137	$ 1,334	$ 1,349	$ 1,403
Weighted average life	4 years 8 months 12 days	5 years 1 month 6 days
Prepayment speed assumption (as a percent)	13.13%	11.77%
Effect on fair value of a 20% increase	$ (97)	$ (107)
Effect on fair value of a 10% increase	(50)	(55)
Effect on fair value of a 10% decrease	55	60
Effect on fair value of a 20% decrease	$ 114	$ 126
Discount rate assumption (as a percent)	9.38%	9.50%
Effect on fair value of a 20% increase	$ (65)	$ (83)
Effect on fair value of a 10% increase	(33)	(43)
Effect on fair value of a 10% decrease	36	46
Effect on fair value of a 20% decrease	$ 73	$ 94
Escrow earnings credit assumption (as a percent)	1.35%	1.63%
Effect on fair value of a 20% increase	$ 25	$ 32
Effect on fair value of a 10% increase	12	15
Effect on fair value of a 10% decrease	(11)	(15)
Effect on fair value of a 20% decrease	$ (24)	$ (32)

DERIVATIVE FINANCIAL INSTRUME87

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivative Financial Instruments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)instrument	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Other assets
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Notional amount, asset derivatives	$ 11,930		$ 12,066
Fair value of asset derivatives	419		190
Other liabilities
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Notional amount, liability derivatives	14,410		12,066
Fair value of liability derivatives	452		202
Interest rate swaps
Derivative disclosures
Interest rate derivative net gain (loss)	(10)	$ (9)
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Fair value of asset derivatives	433		206
Posted collateral	548
Interest rate swaps | Other assets
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Notional amount, asset derivatives	11,930		12,066
Fair value of asset derivatives	419		190
Interest rate swaps | Other liabilities
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Notional amount, liability derivatives	11,930		12,066
Fair value of liability derivatives	$ 442		$ 202
Interest rate swaps | Not designated as hedging instruments
Derivative disclosures
Number of interest rate derivatives held | instrument	6
Notional amount of derivative	$ 23,900
Risk participation agreements
Derivative disclosures
Number of interest rate derivatives held | instrument	1
Interest rate derivative net gain (loss)	$ 22
Risk participation agreements | Other liabilities
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Notional amount, liability derivatives	2,480
Fair value of liability derivatives	10
Interest rate swaps And Risk participation agreements | Other liabilities
Fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition
Termination value of the interest rate swaps	$ 465

DERIVATIVE FINANCIAL INSTRUME88

DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Interest Rate Swap Assets (Details) - Interest rate swaps - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives
Gross Amounts of Recognized Assets	$ 433	$ 206
Net Amounts of Assets presented in the Statement of Financial Condition	433	206
Gross Amounts Not Offset in the Statement of Financial Condition
Net Amount	$ 433	$ 206

DERIVATIVE FINANCIAL INSTRUME89

DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Interest Rate Swap Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Interest rate swaps And Risk participation agreements
Derivatives
Gross Amounts of Recognized Liabilities	$ 465
Net Amounts of Liabilities Presented in the Statement of Financial Condition	465
Gross Amounts Not Offset in the Statement of Financial Condition
Collateral Posted	548
Net Amount	$ (83)
Interest rate swaps
Derivatives
Gross Amounts of Recognized Liabilities		$ 218
Net Amounts of Liabilities Presented in the Statement of Financial Condition		218
Gross Amounts Not Offset in the Statement of Financial Condition
Collateral Posted		458
Net Amount		$ (240)

ACQUISITION OF CONESTOGA BANK (

ACQUISITION OF CONESTOGA BANK (Details) - USD ($) $ in Thousands	Apr. 14, 2015	Jun. 30, 2016	Mar. 31, 2016
Business Combination Disclosures
Merger and other restructuring charges			$ 838
Conestoga Bank
Business Combination Disclosures
Cash payment transaction value	$ 105,000
Forecast | Conestoga Bank
Business Combination Disclosures
Merger and other restructuring charges		$ 8,000

ACQUISITION OF CONESTOGA BANK91

ACQUISITION OF CONESTOGA BANK AND RESTRUCTURING (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Restructuring disclosures
Merger and restructuring charges		$ 838
Expense Management Reduction Program | Employee Severance | Forecast
Restructuring disclosures
Merger and restructuring charges	$ 1,200
Expense Management Reduction Program | Employee Severance | Forecast | The Bank
Restructuring disclosures
Approximate workforce reduction (as a percent)	11.00%