Suffolk Bancorp (SCNB) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 15, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	SUFFOLK BANCORP
Entity Central Index Key	754,673
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,792,756
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Cash and cash equivalents
Cash and non-interest-bearing deposits due from banks	$ 79,049	$ 41,140
Interest-bearing deposits due from banks	18,751	13,376
Federal funds sold	0	1,000
Total cash and cash equivalents	97,800	55,516
Interest-bearing time deposits in other banks	0	10,000
Federal Reserve and Federal Home Loan Bank stock and other investments	5,581	8,600
Investment securities:
Available for sale, at fair value	261,232	298,670
Held to maturity (fair value of $69,402 and $64,796, respectively)	66,427	62,270
Total investment securities	327,659	360,940
Loans	1,559,520	1,355,427
Allowance for loan losses	20,315	19,200
Net loans	1,539,205	1,336,227
Loans held for sale	745	26,495
Premises and equipment, net	23,144	23,641
Bank owned life insurance	46,027	45,109
Deferred taxes	14,422	15,714
Accrued interest and loan fees receivable	6,349	5,676
Goodwill and other intangibles	2,915	2,991
Other assets	2,997	4,374
TOTAL ASSETS	2,066,844	1,895,283
LIABILITIES & STOCKHOLDERS' EQUITY
Demand deposits	801,212	683,634
Savings, N.O.W. and money market deposits	759,080	653,667
Subtotal core deposits	1,560,292	1,337,301
Time deposits	235,539	218,759
Total deposits	1,795,831	1,556,060
Borrowings	50,000	130,000
Unfunded pension liability	5,969	6,303
Capital leases	4,426	4,511
Other liabilities	14,078	15,676
TOTAL LIABILITIES	$ 1,870,304	$ 1,712,550
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY
Common stock (par value $2.50; 15,000,000 shares authorized; 13,956,250 shares and 13,836,508 shares issued at September 30, 2015 and December 31, 2014, respectively; 11,790,512 shares and 11,670,770 shares outstanding at September 30, 2015 and December 31, 2014, respectively)	$ 34,890	$ 34,591
Surplus	45,656	44,230
Retained earnings	127,636	116,169
Treasury stock at par (2,165,738 shares)	(5,414)	(5,414)
Accumulated other comprehensive loss, net of tax	(6,228)	(6,843)
TOTAL STOCKHOLDERS' EQUITY	196,540	182,733
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,066,844	$ 1,895,283

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investment securities:
Held to maturity, fair value	$ 69,402	$ 64,796
STOCKHOLDERS' EQUITY
Common Stock, par value (in dollars per share)	$ 2.50	$ 2.50
Common Stock, shares authorized (in shares)	15,000,000	15,000,000
Common Stock, shares issued (in shares)	13,956,250	13,836,508
Common Stock, shares outstanding (in shares)	11,790,512	11,670,770
Treasury Stock, shares (in shares)	2,165,738	2,165,738

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
INTEREST INCOME
Loans and loan fees	$ 15,798	$ 13,396	$ 46,362	$ 39,476
U.S. Government agency obligations	530	553	1,602	1,772
Obligations of states and political subdivisions	1,114	1,428	3,725	4,422
Collateralized mortgage obligations	149	198	507	672
Mortgage-backed securities	441	474	1,329	1,475
Corporate bonds	96	38	179	215
Federal funds sold, securities purchased under agreements to resell and interest-bearing deposits due from banks	7	35	50	123
Dividends	71	42	221	115
Total interest income	18,206	16,164	53,975	48,270
INTEREST EXPENSE
Saving, N.O.W. and money market deposits	338	291	906	870
Time deposits	396	322	1,043	1,004
Borrowings	94	2	310	7
Total interest expense	828	615	2,259	1,881
Net interest income	17,378	15,549	51,716	46,389
Provision for loan losses	350	250	600	750
Net interest income after provision for loan losses	17,028	15,299	51,116	45,639
NON-INTEREST INCOME
Service charges on deposit accounts	749	887	2,319	2,834
Other service charges, commissions and fees	759	778	2,032	2,349
Fiduciary fees	0	265	0	824
Net gain (loss) on sale of securities available for sale	133	11	319	(12)
Net gain on sale of portfolio loans	370	217	568	217
Net gain on sale of mortgage loans originated for sale	85	51	290	214
Net gain on sale of premises and equipment	0	0	0	752
Income from bank owned life insurance	306	316	918	1,036
Other operating income	25	25	122	106
Total non-interest income	2,427	2,550	6,568	8,320
OPERATING EXPENSES
Employee compensation and benefits	7,980	8,628	25,102	25,977
Occupancy expense	1,401	1,295	4,236	4,141
Equipment expense	410	418	1,199	1,301
Consulting and professional services	609	693	1,491	1,883
FDIC assessment	226	202	802	737
Data processing	506	549	1,590	1,681
Branch consolidation credits	0	0	0	(449)
Other operating expenses	1,536	1,451	4,530	4,426
Total operating expenses	12,668	13,236	38,950	39,697
Income before income tax expense	6,787	4,613	18,734	14,262
Income tax expense	1,864	875	4,684	3,033
NET INCOME	$ 4,923	$ 3,738	$ 14,050	$ 11,229
EARNINGS PER COMMON SHARE - BASIC (in dollars per shares)	$ 0.42	$ 0.32	$ 1.20	$ 0.97
EARNINGS PER COMMON SHARE - DILUTED (in dollars per shares)	$ 0.42	$ 0.32	$ 1.19	$ 0.96
WEIGHTED AVERAGE COMMON SHARES - BASIC (in shares)	11,785,731	11,661,544	11,743,076	11,611,790
WEIGHTED AVERAGE COMMON SHARES - DILUTED (in shares)	11,863,299	11,716,286	11,817,899	11,667,991
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.10	$ 0.06	$ 0.22	$ 0.06

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Net income	$ 4,923	$ 3,738	$ 14,050	$ 11,229
Other comprehensive income (loss), net of tax and reclassification adjustments:
Change in unrealized gain (loss) on securities available for sale arising during the period, net of tax of $700, ($416), $354 and $3,851, respectively	1,008	(641)	479	6,430
Change in unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of tax of $14, $26, $67 and ($1,201), respectively	55	40	136	(1,850)
Total other comprehensive income (loss), net of tax	1,063	(601)	615	4,580
Total comprehensive income	$ 5,986	$ 3,137	$ 14,665	$ 15,809

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) [Abstract]
Change in unrealized gain (loss) on securities available for sale, tax	$ 700	$ (416)	$ 354	$ 3,851
Change in unrealized gain (loss) on securities transferred, tax	$ 14	$ 26	$ 67	$ (1,201)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Common Stock [Member]	Surplus [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss, Net of Tax [Member]	Total
Balance at Dec. 31, 2013	$ 34,348	$ 43,280	$ 102,273	$ (5,414)	$ (7,289)
Net income			11,229			$ 11,229
Dividend reinvestment	5	38
Stock options exercised	46	200
Stock-based compensation	184	416
Other comprehensive income					4,580	15,809
Cash dividends on common stock ($0.22 and $0.06 per share, respectively)			(699)
Balance at Sep. 30, 2014	34,583	43,934	112,803	(5,414)	(2,709)	183,197
Balance at Dec. 31, 2014	34,591	44,230	116,169	(5,414)	(6,843)	182,733
Net income			14,050			14,050
Dividend reinvestment	59	501
Stock options exercised	98	441
Stock-based compensation	142	484
Other comprehensive income					615	14,665
Cash dividends on common stock ($0.22 and $0.06 per share, respectively)			(2,583)
Balance at Sep. 30, 2015	$ 34,890	$ 45,656	$ 127,636	$ (5,414)	$ (6,228)	$ 196,540

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) [Abstract]
Cash dividend on common stock (in dollars per share)	$ 0.22	$ 0.06
Dividend reinvestment (in shares)	23,524	2,291
Stock options exercised (in shares)	(39,334)	(18,735)

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) [Abstract]
NET INCOME	$ 14,050	$ 11,229
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES
Provision for loan losses	600	750
Depreciation and amortization	1,740	1,775
Stock-based compensation - net	626	600
Net amortization of premiums	863	889
Originations of mortgage loans held for sale	(31,613)	(10,745)
Proceeds from sale of mortgage loans originated for sale	32,517	11,134
Gain on sale of mortgage loans originated for sale	(290)	(214)
Gain on sale of portfolio loans	(568)	(217)
Decrease (increase) in other intangibles	76	(9)
Deferred tax expense (benefit)	872	(1,914)
Increase in accrued interest and loan fees receivable	(673)	(786)
Decrease in other assets	1,377	613
Adjustment to unfunded pension liability	(334)	(274)
Decrease in other liabilities	(1,598)	(3,133)
Income from bank owned life insurance	(918)	(1,036)
Gain on sale of premises and equipment	0	(752)
Net (gain) loss on sale of securities available for sale	(319)	12
Net cash provided by operating activities	16,408	7,922
CASH FLOWS FROM INVESTING ACTIVITIES
Principal payments on investment securities - available for sale	8,030	9,692
Proceeds from sale of investment securities - available for sale	10,080	20,604
Maturities of investment securities - available for sale	26,505	20,807
Purchases of investment securities - available for sale	(6,800)	(800)
Maturities of investment securities - held to maturity	1,957	994
Purchases of investment securities - held to maturity	(6,000)	(3,434)
Decrease in interest-bearing time deposits in other banks	10,000	0
Decrease (increase) in Federal Reserve and Federal Home Loan Bank stock and other investments	3,019	(337)
Proceeds from sale of portfolio loans	49,871	25,371
Loan originations - net	(227,745)	(217,580)
Proceeds from sale of premises and equipment	0	1,064
Increase in bank owned life insurance	0	(5,000)
Purchases of premises and equipment - net	(1,243)	(727)
Net cash used in investing activities	(132,326)	(149,346)
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in deposit accounts	239,771	70,708
Net (decrease) increase in short-term borrowings	(95,000)	10,000
Net increase in long-term borrowings	15,000	0
Proceeds from stock options exercised	539	246
Cash dividends paid on common stock	(2,583)	(699)
Proceeds from shares issued under the dividend reinvestment plan	560	43
Decrease in capital lease payable	(85)	(74)
Net cash provided by financing activities	158,202	80,224
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	42,284	(61,200)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	55,516	132,352
CASH AND CASH EQUIVALENTS, END OF PERIOD	97,800	71,152
SUPPLEMENTAL DATA:
Interest paid	2,208	1,892
Income taxes paid	3,148	5,264
Loans transferred to held-for-sale	24,164	25,221
Investment securities transferred from available for sale to held to maturity	$ 0	$ 48,147

FINANCIAL STATEMENT PRESENTATIO

FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	1. FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Suffolk Bancorp (the “Company”) was incorporated in 1985 as a bank holding company. The Company currently owns all of the outstanding capital stock of Suffolk County National Bank (the “Bank”). The Bank was organized under the national banking laws of the United States in 1890. The Bank formed Suffolk Greenway, Inc. (the “REIT”), a real estate investment trust, and owns 100% of an insurance agency and two corporations used to acquire foreclosed real estate. The insurance agency and the two corporations used to acquire foreclosed real estate are immaterial to the Company’s operations. The unaudited interim condensed consolidated financial statements include the accounts of the Company and the Bank and its subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. Unless the context otherwise requires, references herein to the Company include the Company and the Bank and subsidiaries on a consolidated basis. In the opinion of the Company’s management, the preceding unaudited interim condensed consolidated financial statements contain all adjustments, consisting of normal accruals, necessary for a fair presentation of its condensed consolidated statement of condition as of September 30, 2015, its condensed consolidated statements of income for the three and nine months ended September 30, 2015 and 2014, its condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014, its condensed consolidated statements of changes in stockholders’ equity for the nine months ended September 30, 2015 and 2014 and its condensed consolidated statements of cash flows for the nine months ended September 30, 2015 and 2014. The preceding unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X, as well as in accordance with predominant practices within the banking industry. They do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results of operations to be expected for the remainder of the year. For further information, please refer to the audited consolidated financial statements and footnotes thereto included in the Company’s 2014 Annual Report on Form 10-K. Earnings Per Share The reconciliation of basic and diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2015 and 2014 follows. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average common shares outstanding 11,674,697 11,586,564 11,636,155 11,578,350 Weighted average unvested restricted shares 111,034 74,980 106,921 33,440 Weighted average shares for basic earnings per share 11,785,731 11,661,544 11,743,076 11,611,790 Additional diluted shares: Stock options 77,568 54,742 74,823 56,201 Weighted average shares for diluted earnings per share 11,863,299 11,716,286 11,817,899 11,667,991 Loans and Loan Interest Income Recognition Interest income is accrued on the unpaid loan principal balance. Recognition of interest income is discontinued when reasonable doubt exists as to whether principal or interest due can be collected. Loans of all classes will generally no longer accrue interest when over 90 days past due unless the loan is well-secured and in process of collection. When a loan is placed on non-accrual status, all interest previously accrued, but not collected, is reversed against current-year interest income. Interest received on such loans is applied against principal or interest, according to management’s judgment as to the collectability of the principal, until qualifying for return to accrual status. Loans may start accruing interest again when they become current as to principal and interest for at least six months, and when, after a well-documented analysis by management, it has been determined that the loans can be collected in full. For all classes of loans, an impaired loan is defined as a loan for which it is probable that the lender will not collect all amounts due under the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties are considered troubled debt restructurings (“TDRs”) and are classified as impaired. Generally, TDRs are initially classified as non-accrual until sufficient time has passed to assess whether the restructured loan will continue to perform. For impaired, accruing loans, interest income is recognized on an accrual basis with cash offsetting the recorded accruals upon receipt. Allowance for Loan Losses The allowance for loan losses consists of specific and general components, as well as an unallocated component. The specific component relates to loans that are individually classified as impaired. Specific reserves are established based on an analysis of the most probable sources of repayment or liquidation of collateral. Impaired loans that are collateral dependent are reviewed based on the fair market value of collateral and the estimated time required to recover the Company’s investment in the loans, as well as the cost of doing so, and the estimate of the recovery. Non-collateral dependent impaired loans are reviewed based on the present value of estimated future cash flows, including balloon payments, if any, using the loan’s effective interest rate. While every impaired loan is evaluated individually, not every loan requires a specific reserve. Specific reserves fluctuate based on changes in the underlying loans, anticipated sources of repayment, and charge-offs. The general component covers non-impaired loans and is based on historical loss experience for each loan class from a rolling twelve quarter period and modifying those percentages, if necessary, after adjusting for current qualitative and environmental factors that reflect changes in the estimated collectability of the loan class not captured by historical loss data. These factors augment actual loss experience and help estimate the probability of loss within the loan portfolio based on emerging or inherent risk trends. These qualitative factors are applied as an adjustment to historical loss rates and require judgments that cannot be subjected to exact mathematical calculation. These adjustments reflect management’s overall estimate of the extent to which current losses on a pool of loans will differ from historical loss experience. These adjustments are subjective estimates and management reviews them on a quarterly basis. TDRs are also considered impaired with impairment generally measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception or using the fair value of collateral, less estimated costs to sell, if repayment is expected solely from the collateral. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. Loans Held For Sale Bank Owned Life Insurance Derivatives Recent Accounting Guidance In January 2014, the FASB issued ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Topic 310), “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The ASU requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Company’s adoption of ASU 2014-04 on January 1, 2015 did not have a material effect on the Company’s consolidated financial statements. Reclassifications

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")	9 Months Ended
	Sep. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")	2. ACCUMULATED OTHER COMPREHENSIVE INCOME (“AOCI”) The changes in the Company’s AOCI by component, net of tax, for the three and nine months ended September 30, 2015 and 2014 follow (in thousands). Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Beginning balance $ 2,108 $ (1,724 ) $ (7,675 ) $ (7,291 ) $ 2,976 $ (1,890 ) $ (3,194 ) $ (2,108 ) Other comprehensive income (loss) before reclassifications 1,087 - - 1,087 (634 ) (1 ) - (635 ) Amounts reclassified from AOCI (79 ) 55 - (24 ) (7 ) 41 - 34 Net other comprehensive income (loss) 1,008 55 - 1,063 (641 ) 40 - (601 ) Ending balance $ 3,116 $ (1,669 ) $ (7,675 ) $ (6,228 ) $ 2,335 $ (1,850 ) $ (3,194 ) $ (2,709 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Beginning balance $ 2,637 $ (1,805 ) $ (7,675 ) $ (6,843 ) $ (4,095 ) $ - $ (3,194 ) $ (7,289 ) Other comprehensive income (loss) before reclassifications 670 - - 670 6,423 (1,944 ) - 4,479 Amounts reclassified from AOCI (191 ) 136 - (55 ) 7 94 - 101 Net other comprehensive income (loss) 479 136 - 615 6,430 (1,850 ) - 4,580 Ending balance $ 3,116 $ (1,669 ) $ (7,675 ) $ (6,228 ) $ 2,335 $ (1,850 ) $ (3,194 ) $ (2,709 ) Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 follow (in thousands). Amount Reclassified from AOCI Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Details about AOCI Components 2015 2014 2015 2014 Where Net Income is Presented Unrealized gains and losses on available for sale securities $ 133 $ 11 $ 319 $ (12 ) Net gain (loss) on sale of securities available for sale Unrealized losses on securities transferred from available for sale to held to maturity (69 ) (67 ) (203 ) (153 ) Interest income - U.S. Government agency obligations (40 ) 22 (61 ) 64 Income tax expense Total, net of tax $ 24 $ (34 ) $ 55 $ (101 )

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2015
INVESTMENT SECURITIES [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES At the time of purchase of a security, the Company designates the security as either available for sale or held to maturity, depending upon investment objectives, liquidity needs and intent. Securities held to maturity are stated at cost, adjusted for premium amortized or discount accreted, if any. The Company has the positive intent and ability to hold such securities to maturity. Securities available for sale are stated at estimated fair value. Unrealized gains and losses are excluded from income and reported net of tax in AOCI as a separate component of stockholders’ equity until realized. Changes in unrealized gains and losses are reported, net of tax, in the consolidated statements of comprehensive income. Interest earned on securities is included in interest income. Realized gains and losses on the sale of securities are reported in the consolidated statements of income and determined using the adjusted cost of the specific security sold. In 2014, investment securities with a fair value of $48 million and unrealized loss of $3.2 million were transferred from available for sale to held to maturity. In accordance with U.S. GAAP, the securities were transferred at fair value, which became the amortized cost. The discount will be accreted to interest income over the remaining life of the security. The unrealized holding losses at the date of transfer remained in AOCI and will be amortized simultaneously against interest income. Those entries will offset or mitigate each other. The amortized cost, fair value and gross unrealized gains and losses of the Company’s investment securities available for sale and held to maturity at September 30, 2015 and December 31, 2014 were as follows (in thousands): September 30, 2015 December 31, 2014 Amortized Gross Gross Fair Amortized Gross Gross Fair Available for sale: U.S. Government agency securities $ 38,977 $ 18 $ (201 ) $ 38,794 $ 42,474 $ - $ (897 ) $ 41,577 Obligations of states and political subdivisions 105,217 5,155 - 110,372 131,300 6,469 - 137,769 Collateralized mortgage obligations 16,547 48 (129 ) 16,466 22,105 423 (531 ) 21,997 Mortgage-backed securities 89,299 589 (258 ) 89,630 92,095 88 (1,264 ) 90,919 Corporate bonds 6,000 - (30 ) 5,970 6,336 90 (18 ) 6,408 Total available for sale securities 256,040 5,810 (618 ) 261,232 294,310 7,070 (2,710 ) 298,670 Held to maturity: U.S. Government agency securities 48,568 2,290 - 50,858 48,365 1,717 - 50,082 Obligations of states and political subdivisions 11,859 633 - 12,492 13,905 809 - 14,714 Corporate bonds 6,000 52 - 6,052 - - - - Total held to maturity securities 66,427 2,975 - 69,402 62,270 2,526 - 64,796 Total investment securities $ 322,467 $ 8,785 $ (618 ) $ 330,634 $ 356,580 $ 9,596 $ (2,710 ) $ 363,466 At September 30, 2015 and December 31, 2014, investment securities carried at $268 million and $245 million, respectively, were pledged primarily for public funds on deposit and as collateral for the Company’s derivative swap contracts. The amortized cost, contractual maturities and fair value of the Company’s investment securities at September 30, 2015 (in thousands) are presented in the table below. Collateralized mortgage obligations (“CMOs”) and mortgage-backed securities (“MBS”) assume maturity dates pursuant to average lives. September 30, 2015 Amortized Fair Securities available for sale: Due in one year or less $ 29,275 $ 29,688 Due from one to five years 134,171 138,558 Due from five to ten years 92,594 92,986 Total securities available for sale 256,040 261,232 Securities held to maturity: Due in one year or less 836 859 Due from one to five years 4,363 4,650 Due from five to ten years 38,141 39,351 Due after ten years 23,087 24,542 Total securities held to maturity 66,427 69,402 Total investment securities $ 322,467 $ 330,634 The proceeds from sales of securities available for sale and the associated realized gains and losses are shown below for the periods indicated (in thousands). Realized gains are also inclusive of gains on called securities. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Proceeds $ 3,077 $ - $ 10,080 $ 20,604 Gross realized gains $ 133 $ 11 $ 334 $ 240 Gross realized losses - - (15 ) (252 ) Net realized gains (losses) $ 133 $ 11 $ 319 $ (12 ) Information pertaining to securities with unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows (in thousands): Less than 12 months 12 months or longer Total September 30, 2015 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government agency securities $ 13,941 $ (52 ) $ 19,851 $ (149 ) $ 33,792 $ (201 ) Collateralized mortgage obligations - - 8,447 (129 ) 8,447 (129 ) Mortgage-backed securities 13,841 (79 ) 18,495 (179 ) 32,336 (258 ) Corporate bonds 5,970 (30 ) - - 5,970 (30 ) Total $ 33,752 $ (161 ) $ 46,793 $ (457 ) $ 80,545 $ (618 ) Less than 12 months 12 months or longer Total December 31, 2014 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government agency securities $ - $ - $ 41,577 $ (897 ) $ 41,577 $ (897 ) Collateralized mortgage obligations - - 8,417 (531 ) 8,417 (531 ) Mortgage-backed securities - - 81,510 (1,264 ) 81,510 (1,264 ) Corporate bonds - - 2,982 (18 ) 2,982 (18 ) Total $ - $ - $ 134,486 $ (2,710 ) $ 134,486 $ (2,710 ) All securities with unrealized losses for twelve months or longer at September 30, 2015 are issued or guaranteed by U.S. Government agencies or sponsored enterprises and the related unrealized losses resulted solely from the current interest rate environment and the corresponding shape of the yield curve. The Company does not intend to sell and it is not more likely than not that the Company will be required to sell these securities prior to their recovery to a level equal to or greater than amortized cost. Management has determined that no other-than-temporary impairment (“OTTI”) was present at September 30, 2015. The Bank was a member of the Visa USA payment network and was issued Class B shares upon Visa’s initial public offering in March 2008. The Visa Class B shares are transferable only under limited circumstances until they can be converted into shares of the publicly traded class of stock. This conversion cannot happen until the settlement of certain litigation, which is indemnified by Visa members. Since its initial public offering, Visa has funded a litigation reserve based upon a change in the conversion ratio of Visa Class B shares into Visa Class A shares. At its discretion, Visa may continue to increase the conversion rate in connection with any settlements in excess of amounts then in escrow for that purpose and reduce the conversion rate to the extent that it adds any funds to the escrow in the future. Based on the existing transfer restriction and the uncertainty of the litigation, the Company has recorded its Visa Class B shares on its balance sheet at zero value. In conjunction with the sale of Visa Class B shares in 2013, the Company entered into derivative swap contracts with the purchaser of these Visa Class B shares which provide for settlements between the purchaser and the Company based upon a change in the conversion ratio of Visa Class B shares into Visa Class A shares. The Company’s recorded liability representing the fair value of the derivative was $752 thousand at September 30, 2015 and December 31, 2014. The present value of estimated future fees to be paid to the derivative counterparty, or carrying costs, calculated by reference to the market price of the Visa Class A shares at a fixed rate of interest are expensed as incurred. For the three and nine months ended September 30, 2015, $73 thousand and $214 thousand, respectively, in such carrying costs was expensed. For the three and nine months ended September 30, 2014, $57 thousand and $172 thousand, respectively, was expensed. The Company has pledged U.S. Government agency securities held in its available for sale portfolio, with a market value of approximately $3 million at both September 30, 2015 and December 31, 2014, as collateral for the derivative swap contracts. Subjectivity has been used in estimating the fair value of both the derivative liability and the associated fees, but management believes that these fair value estimates are adequate based on available information. However, future developments in the litigation could require potentially significant changes to these estimates. At September 30, 2015, the Company still owned 38,638 Visa Class B shares subsequent to the sales described here. Upon termination of the existing transfer restriction and settlement of the litigation, and to the extent that the Company continues to own such Visa Class B shares in the future, the Company expects to record its Visa Class B shares at fair value.

LOANS

LOANS	9 Months Ended
	Sep. 30, 2015
LOANS [Abstract]
LOANS	4. LOANS At September 30, 2015 and December 31, 2014, net loans disaggregated by class consisted of the following (in thousands): September 30, 2015 December 31, 2014 Commercial and industrial $ 181,116 $ 177,813 Commercial real estate 648,132 560,524 Multifamily 392,921 309,666 Mixed use commercial 64,381 34,806 Real estate construction 32,896 26,206 Residential mortgages 186,545 187,828 Home equity 46,990 50,982 Consumer 6,539 7,602 Gross loans 1,559,520 1,355,427 Allowance for loan losses (20,315 ) (19,200 ) Net loans at end of period $ 1,539,205 $ 1,336,227 The following summarizes the activity in the allowance for loan losses disaggregated by class for the periods indicated (in thousands). Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Commercial and industrial $ 2,073 $ (252 ) $ 138 $ (62 ) $ 1,897 $ 2,932 $ (104 ) $ 160 $ (1,121 ) $ 1,867 Commercial real estate 6,000 - 10 420 6,430 7,899 - 11 (499 ) 7,411 Multifamily 4,065 - - 252 4,317 2,444 - - 238 2,682 Mixed use commercial 465 - - 129 594 212 - - (6 ) 206 Real estate construction 478 - - 8 486 230 - - 36 266 Residential mortgages 2,571 - 4 120 2,695 2,650 - 4 193 2,847 Home equity 672 - 10 (6 ) 676 761 - 3 (55 ) 709 Consumer 150 (1 ) 5 (29 ) 125 166 (15 ) 13 13 177 Unallocated 3,577 - - (482 ) 3,095 1,184 - - 1,451 2,635 Total $ 20,051 $ (253 ) $ 167 $ 350 $ 20,315 $ 18,478 $ (119 ) $ 191 $ 250 $ 18,800 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Commercial and industrial $ 1,560 $ (744 ) $ 1,174 $ (93 ) $ 1,897 $ 2,615 $ (419 ) $ 663 $ (992 ) $ 1,867 Commercial real estate 6,777 - 28 (375 ) 6,430 6,572 - 508 331 7,411 Multifamily 4,018 - - 299 4,317 2,159 - - 523 2,682 Mixed use commercial 261 - - 333 594 54 - - 152 206 Real estate construction 383 - - 103 486 88 - - 178 266 Residential mortgages 3,027 - 31 (363 ) 2,695 2,463 (32 ) 12 404 2,847 Home equity 709 - 17 (50 ) 676 745 - 48 (84 ) 709 Consumer 166 (11 ) 20 (50 ) 125 241 (19 ) 26 (71 ) 177 Unallocated 2,299 - - 796 3,095 2,326 - - 309 2,635 Total $ 19,200 $ (755 ) $ 1,270 $ 600 $ 20,315 $ 17,263 $ (470 ) $ 1,257 $ 750 $ 18,800 Factors considered by management in determining loan impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The general component of the allowance covers non-impaired loans and is based on historical loss experience, adjusted for qualitative factors. These qualitative factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability, and depth of lending management and other relevant staff; local, regional and national economic trends and conditions; industry conditions; and effects of changes in credit concentrations. At September 30, 2015 and December 31, 2014, the ending balance in the allowance for loan losses disaggregated by class and impairment methodology is as follows (in thousands). Also in the tables below are total loans at September 30, 2015 and December 31, 2014 disaggregated by class and impairment methodology (in thousands). Allowance for Loan Losses Loan Balances September 30, 2015 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Commercial and industrial $ - $ 1,897 $ 1,897 $ 4,674 $ 176,442 $ 181,116 Commercial real estate - 6,430 6,430 5,285 642,847 648,132 Multifamily - 4,317 4,317 - 392,921 392,921 Mixed use commercial - 594 594 - 64,381 64,381 Real estate construction - 486 486 - 32,896 32,896 Residential mortgages 749 1,946 2,695 5,747 180,798 186,545 Home equity 182 494 676 1,852 45,138 46,990 Consumer 60 65 125 384 6,155 6,539 Unallocated - 3,095 3,095 - - - Total $ 991 $ 19,324 $ 20,315 $ 17,942 $ 1,541,578 $ 1,559,520 Allowance for Loan Losses Loan Balances December 31, 2014 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Commercial and industrial $ 16 $ 1,544 $ 1,560 $ 4,889 $ 172,924 $ 177,813 Commercial real estate - 6,777 6,777 10,214 550,310 560,524 Multifamily - 4,018 4,018 - 309,666 309,666 Mixed use commercial - 261 261 - 34,806 34,806 Real estate construction - 383 383 - 26,206 26,206 Residential mortgages 809 2,218 3,027 5,422 182,406 187,828 Home equity 92 617 709 1,567 49,415 50,982 Consumer 88 78 166 323 7,279 7,602 Unallocated - 2,299 2,299 - - - Total $ 1,005 $ 18,195 $ 19,200 $ 22,415 $ 1,333,012 $ 1,355,427 The following table presents the Company’s impaired loans disaggregated by class at September 30, 2015 and December 31, 2014 (in thousands). September 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Balance Allowance Allocated Unpaid Principal Balance Recorded Balance Allowance Allocated With no allowance recorded: Commercial and industrial $ 4,668 $ 4,668 $ - $ 4,833 $ 4,833 $ - Commercial real estate 5,703 5,285 - 10,632 10,214 - Residential mortgages 2,209 2,080 - 1,645 1,516 - Home equity 1,398 1,398 - 1,377 1,377 - Consumer 210 210 - 137 137 - Subtotal 14,188 13,641 - 18,624 18,077 - With an allowance recorded: Commercial and industrial 6 6 - 57 56 16 Residential mortgages 3,667 3,667 749 3,906 3,906 809 Home equity 590 454 182 326 190 92 Consumer 175 174 60 185 186 88 Subtotal 4,438 4,301 991 4,474 4,338 1,005 Total $ 18,626 $ 17,942 $ 991 $ 23,098 $ 22,415 $ 1,005 The following table presents the Company’s average recorded investment in impaired loans and the related interest income recognized disaggregated by class for the three and nine months ended September 30, 2015 and 2014 (in thousands). No interest income was recognized on a cash basis on impaired loans for any of the periods presented. The interest income recognized on accruing impaired loans is shown in the following table. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Commercial and industrial $ 2,322 $ 226 $ 7,061 $ 128 $ 3,331 $ 485 $ 7,304 $ 679 Commercial real estate 6,213 48 10,424 49 8,590 647 11,045 204 Residential mortgages 5,817 166 5,148 24 5,604 245 5,069 100 Home equity 1,752 15 811 6 1,687 43 767 26 Consumer 349 5 289 7 374 11 222 14 Total $ 16,453 $ 460 $ 23,733 $ 214 $ 19,586 $ 1,431 $ 24,407 $ 1,023 TDRs are modifications or renewals where the Company has granted a concession to a borrower in financial distress. The Company reviews all modifications and renewals for determination of TDR status. The Company allocated $748 thousand and $790 thousand of specific reserves to customers whose loan terms have been modified as TDRs as of September 30, 2015 and December 31, 2014, respectively. These loans involved the restructuring of terms to allow customers to mitigate the risk of default by meeting a lower payment requirement based upon their current cash flow. These may also include loans that renewed at existing contractual rates, but below market rates for comparable credit. A total of $45 thousand and $100 thousand were committed to be advanced in connection with TDRs as of September 30, 2015 and December 31, 2014, respectively, representing the amount the Company is legally required to advance under existing loan agreements. These loans are not in default under the terms of the loan agreements and are accruing interest. It is the Company’s policy to evaluate advances on such loans on a case-by-case basis. Absent a legal obligation to advance pursuant to the terms of the loan agreement, the Company generally will not advance funds for which it has outstanding commitments, but may do so in certain circumstances. Outstanding TDRs, disaggregated by class, at September 30, 2015 and December 31, 2014 are as follows (dollars in thousands): September 30, 2015 December 31, 2014 TDRs Outstanding Number of Loans Outstanding Recorded Balance Number of Loans Outstanding Recorded Balance Commercial and industrial 18 $ 1,217 31 $ 3,683 Commercial real estate 6 5,068 8 10,179 Residential mortgages 21 4,576 19 4,314 Home equity 6 1,391 5 1,216 Consumer 8 308 7 281 Total 59 $ 12,560 70 $ 19,673 The following presents, disaggregated by class, information regarding TDRs executed during the three and nine months ended September 30, 2015 and 2014 (dollars in thousands): Three Months Ended September 30, 2015 2014 New TDRs Number of Pre-Modification Post-Modification Number of Pre-Modification Post-Modification Commercial and industrial 1 $ 8 $ 8 - $ - $ - Home equity 1 192 192 1 98 98 Consumer 1 43 43 1 46 46 Total 3 $ 243 $ 243 2 $ 144 $ 144 Nine Months Ended September 30, 2015 2014 New TDRs Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Commercial and industrial 3 $ 343 $ 343 10 $ 1,877 $ 1,877 Commercial real estate - - - 2 5,161 5,161 Residential mortgages 2 194 199 3 273 273 Home equity 1 192 192 3 207 207 Consumer 1 43 43 4 145 145 Total 7 $ 772 $ 777 22 $ 7,663 $ 7,663 Presented below and disaggregated by class is information regarding loans modified as TDRs that had payment defaults of 90 days or more within twelve months of restructuring during the nine months ended September 30, 2015 and 2014 (dollars in thousands). There were no such loans during the three months ended September 30, 2015 and 2014. Nine Months Ended September 30, 2015 2014 Defaulted TDRs Number Outstanding Number Outstanding Commercial real estate - $ - 2 $ 1,536 Consumer 1 46 - - Total 1 $ 46 2 $ 1,536 Not all loan modifications are TDRs. In some cases, the Company might provide a concession, such as a reduction in interest rate, but the borrower is not experiencing financial distress. This could be the case if the Company is matching a competitor’s interest rate. The following table presents a summary of non-performing assets for each period (in thousands): September 30, 2015 December 31, 2014 Non-accrual loans $ 7,501 $ 12,981 Non-accrual loans held for sale - - Loans 90 days past due and still accruing - - OREO - - Total non-performing assets $ 7,501 $ 12,981 TDRs accruing interest $ 10,172 $ 9,380 TDRs non-accruing $ 2,388 $ 10,293 At September 30, 2015 and December 31, 2014, non-accrual loans disaggregated by class were as follows (dollars in thousands): September 30, 2015 December 31, 2014 Non- accrual loans % of Total Total Loans % of Total Loans Non- accrual loans % of Total Total Loans % of Total Loans Commercial and industrial $ 3,662 48.8 % $ 181,116 0.2 % $ 4,060 31.3 % $ 177,813 0.3 % Commercial real estate 1,746 23.3 648,132 0.1 6,556 50.5 560,524 0.5 Multifamily - - 392,921 - - - 309,666 - Mixed use commercial - - 64,381 - - - 34,806 - Real estate construction - - 32,896 - - - 26,206 - Residential mortgages 1,424 19.0 186,545 0.1 2,020 15.6 187,828 0.1 Home equity 548 7.3 46,990 0.1 303 2.3 50,982 0.1 Consumer 121 1.6 6,539 - 42 0.3 7,602 - Total $ 7,501 100.0 % $ 1,559,520 0.5 % $ 12,981 100.0 % $ 1,355,427 1.0 % Additional interest income of approximately $138 thousand and $185 thousand would have been recorded during the three months ended September 30, 2015 and 2014, respectively, and $270 thousand and $824 thousand during the nine months ended September 30, 2015 and 2014, respectively, if non-accrual loans had performed in accordance with their original terms. At September 30, 2015 and December 31, 2014, past due loans disaggregated by class were as follows (in thousands). Past Due September 30, 2015 30 - 59 days 60 - 89 days 90 days and over Total Current Total Commercial and industrial $ - $ - $ 3,662 $ 3,662 $ 177,454 $ 181,116 Commercial real estate - - 1,746 1,746 646,386 648,132 Multifamily - - - - 392,921 392,921 Mixed use commercial - - - - 64,381 64,381 Real estate construction - - - - 32,896 32,896 Residential mortgages 523 176 1,424 2,123 184,422 186,545 Home equity 302 - 548 850 46,140 46,990 Consumer - - 121 121 6,418 6,539 Total $ 825 $ 176 $ 7,501 $ 8,502 $ 1,551,018 $ 1,559,520 % of Total Loans 0.1 % 0.0 % 0.5 % 0.6 % 99.4 % 100.0 % Past Due December 31, 2014 30 - 59 days 60 - 89 days 90 days and over Total Current Total Commercial and industrial $ 52 $ 241 $ 4,060 $ 4,353 $ 173,460 $ 177,813 Commercial real estate - - 6,556 6,556 553,968 560,524 Multifamily - - - - 309,666 309,666 Mixed use commercial - - - - 34,806 34,806 Real estate construction - - - - 26,206 26,206 Residential mortgages 822 - 2,020 2,842 184,986 187,828 Home equity - 112 303 415 50,567 50,982 Consumer 59 77 42 178 7,424 7,602 Total $ 933 $ 430 $ 12,981 $ 14,344 $ 1,341,083 $ 1,355,427 % of Total Loans 0.1 % 0.0 % 1.0 % 1.1 % 98.9 % 100.0 % The Bank utilizes an eight-grade risk-rating system for commercial and industrial loans, commercial real estate and construction loans. Loans in risk grades 1- 4 are considered pass loans. The Bank’s risk grades are as follows: Risk Grade 1, Excellent Risk Grade 2, Good Risk Grade 3, Satisfactory · At inception, the loan was properly underwritten, did not possess an unwarranted level of credit risk, and the loan met the above criteria for a risk grade of Excellent, Good, or Satisfactory. · At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss. · The loan has exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance. · During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants or the borrower is in an industry known to be experiencing problems. If any of these credit weaknesses is observed, a lower risk grade may be warranted. Risk Grade 4, Satisfactory/Monitored Risk Grade 5, Special Mention Risk Grade 6, Substandard · Loans which possess a defined credit weakness. The likelihood that a loan will be paid from the primary source of repayment is uncertain. Financial deterioration is under way and very close attention is warranted to ensure that the loan is collected without loss. · Loans are inadequately protected by the current net worth and paying capacity of the obligor. · The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment, such as collateral liquidation or guarantees. · Loans have a distinct possibility that the Bank will sustain some loss if deficiencies are not corrected. · Unusual courses of action are needed to maintain a high probability of repayment. · The borrower is not generating enough cash flow to repay loan principal; however, it continues to make interest payments. · The lender is forced into a subordinated or unsecured position due to flaws in documentation. · Loans have been restructured so that payment schedules, terms, and collateral represent concessions to the borrower when compared to the normal loan terms. · The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan. · There is a significant deterioration in market conditions to which the borrower is highly vulnerable. Risk Grade 7, Doubtful · Loans have all of the weaknesses of those classified as Substandard. However, based on existing conditions, these weaknesses make full collection of principal highly improbable. · The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment. · The possibility of loss is high but because of certain important pending factors which may strengthen the loan, loss classification is deferred until the exact status of repayment is known. Risk Grade 8, Loss The Bank annually reviews the ratings on all loans greater than $750 thousand. Semi-annually, the Bank engages an independent third-party to review a significant portion of loans within the commercial and industrial, commercial real estate, multifamily, mixed use commercial and real estate construction loan classes. Management uses the results of these reviews as part of its ongoing review process. The following presents the Company’s loan portfolio credit risk profile by internally assigned grade disaggregated by class of loan at September 30, 2015 and December 31, 2014 (in thousands). September 30, 2015 December 31, 2014 Grade Grade Pass Special mention Substandard Total Pass Special mention Substandard Total Commercial and industrial $ 170,122 $ 1,788 $ 9,206 $ 181,116 $ 167,922 $ 1,225 $ 8,666 $ 177,813 Commercial real estate 632,330 12,292 3,510 648,132 536,536 9,182 14,806 560,524 Multifamily 392,921 - - 392,921 309,666 - - 309,666 Mixed use commercial 64,369 - 12 64,381 34,806 - - 34,806 Real estate construction 32,896 - - 32,896 26,206 - - 26,206 Residential mortgages 184,747 - 1,798 186,545 183,263 - 4,565 187,828 Home equity 46,442 - 548 46,990 49,569 - 1,413 50,982 Consumer 6,375 - 164 6,539 7,279 - 323 7,602 Total $ 1,530,202 $ 14,080 $ 15,238 $ 1,559,520 $ 1,315,247 $ 10,407 $ 29,773 $ 1,355,427 % of Total 98.1 % 0.9 % 1.0 % 100.0 % 97.0 % 0.8 % 2.2 % 100.0 %

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	9 Months Ended
	Sep. 30, 2015
EMPLOYEE BENEFITS [Abstract]
EMPLOYEE BENEFITS	5. EMPLOYEE BENEFITS Retirement Plan In December 2014, the Company made an optional contribution of $1 million for the plan year ended September 30, 2015. No minimum contribution was required. The Company does not presently expect to contribute to its pension plan in 2015.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	6. STOCK-BASED COMPENSATION Stock Options Under the terms of the Company’s stock option plans adopted in 1999 and 2009, options have been granted to key employees and directors to purchase shares of the Company’s stock. Options are awarded by the Compensation Committee of the Board of Directors. Both plans provide that the option price shall not be less than the fair value of the common stock on the date the option is granted. All options are exercisable for a period of ten years or less. No options were granted in 2015 or 2014. Options granted in 2013 and 2012 are exercisable over a three-year period commencing one year from the date of grant at a rate of one-third per year. Options granted in 2011 are exercisable over a three-year period commencing three years from the date of grant at a rate of one-third per year. The total intrinsic value of options exercised during the first nine months of 2015 and 2014 was $438 thousand and $145 thousand, respectively. The total cash received from such option exercises was $539 thousand and $246 thousand, respectively, excluding the tax benefit realized. In exercising those options, 39,334 shares and 18,735 shares, respectively, of the Company’s common stock were issued. Both plans provide for but do not require the grant of stock appreciation rights (“SARs”) that the holder may exercise instead of the underlying option. At September 30, 2015, there were 6,000 SARs outstanding related to options granted before 2011. The SARs had no intrinsic value at September 30, 2015. When the SAR is exercised, the underlying option is canceled. The optionee receives shares of common stock or cash with a fair market value equal to the excess of the fair value of the shares subject to the option at the time of exercise (or the portion thereof so exercised) over the aggregate option price of the shares set forth in the option agreement. The exercise of SARs is treated as the exercise of the underlying option. A summary of stock option activity follows: Number Weighted-Average Outstanding, January 1, 2015 251,100 $ 16.33 Granted - - Exercised (39,334 ) $ 13.71 Forfeited or expired (16,666 ) $ 19.67 Outstanding, September 30, 2015 195,100 $ 16.58 The following summarizes shares subject to purchase from stock options outstanding and exercisable as of September 30, 2015: Outstanding Exercisable Range of Shares Weighted-Average Remaining Contractual Life Weighted-Average Shares Weighted-Average Remaining Contractual Life Weighted-Average $10.00 - $14.00 90,000 6.3 years $ 11.68 56,667 6.4 years $ 12.20 $14.01 - $20.00 83,100 7.8 years $ 17.80 50,774 7.8 years $ 17.64 $20.01 - $30.00 5,000 3.3 years $ 28.30 5,000 3.3 years $ 28.30 $30.01 - $40.00 17,000 1.3 years $ 33.12 17,000 1.3 years $ 33.12 195,100 6.4 years $ 16.58 129,441 6.1 years $ 17.70 Restricted Stock Awards Under the Company’s Amended and Restated 2009 Stock Incentive Plan (the “2009 Plan”), the Company can award options, SARs and restricted stock. During the first nine months of 2015, the Company awarded 71,612 shares of restricted stock to certain key employees and directors. Generally, the restricted stock awards vest over a three-year period commencing one year from the date of grant at a rate of one-third per year. The fair value of the 25,948 restricted shares that vested during the first nine months of 2015 was $585 thousand. Of the 25,948 vested shares, 4,787 were withheld to pay taxes due upon vesting. A summary of restricted stock activity follows: Number of Shares Weighted-Average Grant-Date Fair Value Nonvested, January 1, 2015 72,350 $ 22.51 Granted 71,612 $ 23.18 Vested (25,948 ) $ 22.55 Forfeited or expired (9,941 ) $ 22.61 Nonvested, September 30, 2015 108,073 $ 22.94 The Company recognizes compensation expense for the fair value of stock options and restricted stock on a straight line basis over the requisite service period of the grants. Compensation expense related to stock-based compensation amounted to $626 thousand and $600 thousand for the nine months ended September 30, 2015 and 2014, respectively. The remaining unrecognized compensation cost of approximately $94 thousand and $1.9 million at September 30, 2015 related to stock options and restricted stock, respectively, will be expensed over the remaining weighted average vesting period of approximately 1.0 year and 2.1 years, respectively. Under the 2009 Plan, a total of 500,000 shares of the Company’s common stock were reserved for issuance, of which 162,930 shares remain for possible issuance at September 30, 2015. There are no remaining shares reserved for issuance under the 1999 Stock Option Plan.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
INCOME TAXES [Abstract]
INCOME TAXES	7. INCOME TAXES The deferred tax assets and liabilities are netted and presented in a single amount which is included in deferred taxes in the accompanying consolidated statements of condition. The realization of deferred tax assets (“DTAs”) (net of a recorded valuation allowance) is largely dependent upon future taxable income, future reversals of existing taxable temporary differences and the ability to carry back losses to available tax years. In assessing the need for a valuation allowance, the Company considers positive and negative evidence, including taxable income in carryback years, scheduled reversals of deferred tax liabilities, expected future taxable income and tax planning strategies. At September 30, 2015 the Company had no remaining Federal net operating loss carryforwards and had net operating loss carryforwards of approximately $15.0 million for New York State (“NYS”) income tax purposes, which may be applied against future taxable income. The Company has a full valuation allowance of $668 thousand, tax effected, on the NYS net operating loss carryforward due to the Company’s significant tax-exempt investment income. The valuation allowance may be reversed to income in future periods to the extent that the related DTAs are realized or when the Company returns to consistent, taxable earnings in NYS. The NYS unused net operating loss carryforwards are expected to expire in varying amounts through the year 2032. The Company recorded income tax expense of $4.7 million in the year-to-date September 2015 period resulting in an effective tax rate of 25.0% versus an income tax expense of $3.0 million and an effective tax rate of 21.3% in the comparable period a year ago. The increase in both income tax expense and the effective tax rate in 2015 resulted from an increase in earnings relative to tax-exempt income which has decreased year over year and, additionally, the change in the federal tax rate from 34% to 35% based on the federal tax rates expected to be in effect during the periods in which the temporary differences reverse. The Company has no unrecognized tax benefits at September 30, 2015 as compared to $34 thousand at December 31, 2014. The Company files income tax returns in the U.S. federal jurisdiction and in New York State. Federal returns are subject to audits by tax authorities and the Company is currently under an audit for the tax year 2013. It is not anticipated that the unrecognized tax benefits will significantly change over the next 12 months.

REGULATORY MATTERS

REGULATORY MATTERS	9 Months Ended
	Sep. 30, 2015
REGULATORY MATTERS [Abstract]
REGULATORY MATTERS	8. REGULATORY MATTERS The Company and the Bank are subject to various regulatory capital requirements administered by the 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 Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital requirements that involve quantitative measures of the Company’s and the Bank’s assets, liabilities and certain off-balance sheet items calculated under regulatory accounting practices. The Company’s and the Bank’s capital amounts and the Bank’s classification are also subject to qualitative judgments by the regulators about components, risk weighting and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of total, tier 1 and common equity tier 1 capital, as defined in the federal banking regulations, to risk-weighted assets and of tier 1 capital to adjusted average assets (leverage). Management believes, as of September 30, 2015, that the Company and the Bank met all such capital adequacy requirements to which it is subject. In July 2013, the Office of the Comptroller of the Currency (“OCC”) approved new rules on regulatory capital applicable to national banks, implementing Basel III. Most banking organizations were required to apply the new capital rules on January 1, 2015. The final rules set a new common equity tier 1 requirement and higher minimum tier 1 requirements for all banking organizations. They also place limits on capital distributions and certain discretionary bonus payments if a banking organization does not maintain a buffer of common equity tier 1 capital above minimum capital requirements. The rules revise the prompt corrective action framework to incorporate the new regulatory capital minimums. They also enhance risk sensitivity and address weaknesses identified over recent years with the measure of risk-weighted assets, including through new measures of creditworthiness to replace references to credit ratings, consistent with section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The Company’s implementation of the new rules on January 1, 2015 did not have a material impact on its capital needs. The Bank’s capital amounts (in thousands) and ratios are as follows: Actual capital ratios Minimum Minimum to be Well Amount Ratio Amount Ratio Amount Ratio September 30, 2015 Total capital to risk-weighted assets $ 216,671 13.01 % $ 133,233 8.00 % $ 166,541 10.00 % Tier 1 capital to risk-weighted assets 196,066 11.77 % 99,925 6.00 % 133,233 8.00 % Common equity tier 1 capital to risk-weighted assets 196,066 11.77 % 74,944 4.50 % 108,252 6.50 % Tier 1 capital to adjusted average assets (leverage) 196,066 9.78 % 80,223 4.00 % 100,279 5.00 % December 31, 2014 Total capital to risk-weighted assets $ 201,476 13.25 % $ 121,608 8.00 % $ 152,010 10.00 % Tier 1 capital to risk-weighted assets 182,469 12.00 % 60,804 4.00 % 91,206 6.00 % Tier 1 capital to adjusted average assets (leverage) 182,469 9.96 % 73,312 4.00 % 91,640 5.00 % The Company’s tier 1 leverage, common equity tier 1 risk-based, tier 1 risk-based and total risk-based capital ratios were 9.95%, 11.98%, 11.98% and 13.21%, respectively, at September 30, 2015. The Company’s tier 1 leverage, tier 1 risk-based and total risk-based capital ratios were 10.04%, 12.10% and 13.35%, respectively, at December 31, 2014. The ability of the Bank to pay dividends to the Company is subject to certain regulatory restrictions. Generally, dividends declared in a given year by a national bank are limited to its net profit, as defined by regulatory agencies, for that year, combined with its retained net income for the preceding two years, less any required transfer to surplus or to fund for the retirement of any preferred stock. In addition, a national bank may not pay dividends in an amount greater than its undivided profits or declare any dividends if such declaration would leave the bank inadequately capitalized.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2015
FAIR VALUE [Abstract]
FAIR VALUE	9. FAIR VALUE Fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability in an exchange. The definition of fair value includes the exchange price which is the price in an orderly transaction between market participants to sell an asset or transfer a liability in the principal market for the asset or liability. Market participant assumptions include assumptions about risk, the risk inherent in a particular valuation technique used to measure fair value and/or the risk inherent in the inputs to the valuation technique, as well as the effect of credit risk on the fair value of liabilities. T he Company Basis of Fair Value Measurement: Level 1 – Valuations based on quoted prices in active markets for identical investments. Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 2 inputs include: (i) quoted prices for similar investments in active markets, (ii) quoted prices for identical investments traded in non-active markets (i.e., dealer or broker markets) and (iii) inputs other than quoted prices that are observable or inputs derived from or corroborated by market data for substantially the full term of the investment. Level 3 – Valuations based on inputs that are unobservable, supported by little or no market activity, and significant to the overall fair value measurement. The types of instruments valued based on quoted market prices in active markets include most U.S. Treasury securities. Such instruments are generally classified within Level 1 and Level 2 of the fair value hierarchy. T he Company The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency include U.S. Government agency securities, state and municipal obligations, MBS, CMOs and corporate bonds. Such instruments are generally classified within Level 2 of the fair value hierarchy. The types of instruments valued based on significant unobservable inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability are generally classified within Level 3 of the fair value hierarchy. The following table presents the carrying amounts and fair values of the Company Level in September 30, 2015 December 31, 2014 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial Assets: Cash and due from banks Level 1 $ 97,800 $ 97,800 $ 54,516 $ 54,516 Federal funds sold Level 2 - - 1,000 1,000 Interest-bearing time deposits in other banks Level 2 - - 10,000 10,017 Investment securities held to maturity Level 2 66,427 69,402 62,270 64,796 Investment securities available for sale Level 2 261,232 261,232 298,670 298,670 Loans held for sale Level 2 745 745 26,495 26,495 Loans, net of allowance Level 2, 3 (1) 1,539,205 1,537,750 1,336,227 1,329,041 Accrued interest and loan fees receivable Level 2 6,349 6,349 5,676 5,676 Financial Liabilities: Non-maturity deposits Level 2 1,560,292 1,560,292 1,337,301 1,337,301 Time deposits Level 2 235,539 235,883 218,759 219,089 Borrowings Level 2 50,000 50,052 130,000 130,004 Accrued interest payable Level 2 187 187 136 136 Derivatives Level 3 752 752 752 752 (1) Impaired loans are generally classified within Level 3 of the fair value hierarchy. Fair value estimates are made at a specific point in time and may be based on judgments regarding losses expected in the future, risk, and other factors that are subjective in nature. The methods and assumptions used to produce the fair value estimates follow. For securities held to maturity and securities available for sale, the fair value equals quoted market price if available. If a quoted market price is not available, fair value is estimated using a quoted market price for similar securities. Fair values are estimated for portfolios of loans with similar characteristics. The fair value of performing loans was calculated by discounting projected cash flows through their estimated maturity using market discount rates that reflect the general credit and interest rate characteristics of the loan category. The maturity horizon is based on the Bank’s history of repayments for each type of loan and an estimate of the effect of current economic conditions. Assumptions regarding credit risk, cash flows, and discount rates are made using available Loans identified as impaired are measured using one of three methods: the fair value of collateral less estimated costs to sell, the present value of expected future cash flows or the loan’s observable market price. Those measured using the fair value of collateral or the loan’s observable market price are recorded at fair value. For each period presented, no impaired loans were measured using the loan’s observable market price. If an impaired loan has had a charge-off or if the fair value of the collateral is less than the recorded investment in the loan, the Company establishes a specific reserve and reports the loan as non-recurring Level 3. The fair value of collateral of impaired loans is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. For the periods presented, loans held for sale were performing and carried at cost. The carrying cost is a reasonable estimate of fair value due to their short-term nature. In conjunction with the sale of Visa Class B shares in 2013, the Company entered into derivative swap contracts with the purchaser of its Visa Class B shares. The fair value of these derivatives is measured using an internal model that includes the use of probability weighted scenarios for estimates of Visa’s aggregate exposure to the litigation matters, with consideration of amounts funded by Visa into its escrow account for this litigation. At September 30, 2015, the Company estimates a fair value for these derivatives at approximately 10% of the net proceeds from the Company’s sale of the related Visa Class B shares. Since this estimation process requires application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability weighting assigned to each scenario, these derivatives have been classified as Level 3 within the valuation hierarchy. (See also Note 3. Investment Securities contained herein.) The fair value of commitments to extend credit is estimated by either discounting cash flows or using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the current creditworthiness of the counter-parties. The estimated fair value of written financial guarantees and letters of credit is based on fees currently charged for similar agreements. The fees charged for the commitments were not material in amount. Assets measured at fair value on a non-recurring basis are as follows (in thousands): Assets: September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Impaired loans $ 3,304 $ 3,304 Total $ 3,304 $ 3,304 Assets: December 31, 2014 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Impaired loans $ 3,293 $ 3,293 Total $ 3,293 $ 3,293 The Company had no liabilities measured at fair value on a non-recurring basis at September 30, 2015 and December 31, 2014. The following presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis (dollars in thousands): Fair Value at Assets: September 30, 2015 December 31, 2014 Valuation Technique Unobservable Inputs Discount Impaired loans: Residential mortgages 2,918 3,097 Third party appraisal Discount to appraised value 25 % (1) Home equity 272 98 Third party appraisal Discount to appraised value 25 % (1) Consumer 114 98 Third party appraisal Discount to appraised value 25 % (2) Total $ 3,304 $ 3,293 (1) Of which estimated selling costs are approximately 9% - 15% of the total discount. (2) Of which estimated selling costs are approximately 10% - 12% of the total discount. The following presents fair value measurements on a recurring basis at September 30, 2015 and December 31, 2014 (in thousands): Fair Value Measurements Using Significant Other Observable Inputs Significant Unobservable Inputs Assets: September 30, 2015 (Level 2) (Level 3) U.S. Government agency securities $ 38,794 $ 38,794 $ - Obligations of states and political subdivisions 110,372 110,372 - Collateralized mortgage obligations 16,466 16,466 - Mortgage-backed securities 89,630 89,630 - Corporate bonds 5,970 5,970 - Total $ 261,232 $ 261,232 $ - Liabilities: Derivatives 752 $ - $ 752 Total $ 752 $ - $ 752 Fair Value Measurements Using Significant Other Observable Inputs Significant Unobservable Inputs Assets: December 31, 2014 (Level 2) (Level 3) U.S. Government agency securities $ 41,577 $ 41,577 $ - Obligations of states and political subdivisions 137,769 137,769 - Collateralized mortgage obligations 21,997 21,997 - Mortgage-backed securities 90,919 90,919 - Corporate bonds 6,408 6,408 - Total $ 298,670 $ 298,670 $ - Liabilities: Derivatives 752 $ - $ 752 Total $ 752 $ - $ 752 Reconciliations for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follow (in thousands). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Liabilities Derivatives Liabilities Derivatives Liabilities Derivatives Liabilities Derivatives Beginning balance $ 752 $ 932 $ 752 $ 932 Net change - - - - Ending balance $ 752 $ 932 $ 752 $ 932

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2015
LEGAL PROCEEDINGS [Abstract]
LEGAL PROCEEDINGS	10. LEGAL PROCEEDINGS Certain lawsuits and claims arising in the ordinary course of business may be filed or pending against us or our affiliates from time to time. In accordance with applicable accounting guidance, we establish accruals for all lawsuits, claims and expected settlements when we believe it is probable that a loss has been incurred and the amount of the loss is reasonably estimable. When a loss contingency is not both probable and estimable, we do not establish an accrual. Any such loss estimates are inherently uncertain, based on currently available information and are subject to management’s judgment and various assumptions. Due to the inherent subjectivity of these estimates and unpredictability of outcomes of legal proceedings, any amounts accrued may not represent the ultimate resolution of such matters. To the extent we believe any potential loss relating to such lawsuits and claims may have a material impact on our liquidity, consolidated financial position, results of operations, and/or our business as a whole and is reasonably possible but not probable, we disclose information relating to any such potential loss, whether in excess of any established accruals or where there is no established accrual. We also disclose information relating to any material potential loss that is probable but not reasonably estimable. Where reasonably practicable, we will provide an estimate of loss or range of potential loss. No disclosures are generally made for any loss contingencies that are deemed to be remote. Based upon information available to us and our review of lawsuits and claims filed or pending against us to date, we have not recognized a material accrual liability for these matters, nor do we currently expect it is reasonably possible that these matters will result in a material liability to the Company. However, the outcome of litigation and other legal and regulatory matters is inherently uncertain, and it is possible that one or more of such matters currently pending or threatened could have an unanticipated material adverse effect on our liquidity, consolidated financial position, results of operations, and/or our business as a whole, in the future.

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2015
BORROWINGS [Abstract]
BORROWINGS	11. BORROWINGS The following summarizes borrowed funds at September 30, 2015 and December 31, 2014 (dollars in thousands): As of or for the Nine Months Ended September 30, 2015 Federal Home Loan Federal Home Loan Federal Funds Daily average outstanding $ 69,066 $ 9,396 $ 2 Total interest cost 186 124 - Average interest rate paid 0.36 % 1.76 % 0.45 % Maximum amount outstanding at any month-end $ 155,000 $ 15,000 $ - Ending balance 35,000 15,000 - Weighted-average interest rate on balances outstanding 0.40 % 1.76 % - % As of or for the Year Ended December 31, 2014 Federal Home Loan Federal Home Loan Federal Funds Daily average outstanding $ 13,051 $ - $ 8 Total interest cost 48 - - Average interest rate paid 0.37 % - % 0.46 % Maximum amount outstanding at any month-end $ 130,000 $ - $ - Ending balance 130,000 - - Weighted-average interest rate on balances outstanding 0.32 % - % - % Assets pledged as collateral to the Federal Home Loan Bank (“FHLB”), consisting of eligible loans and investment securities, at September 30, 2015 and December 31, 2014 resulted in a maximum borrowing potential of $673 million and $505 million, respectively. The Company had $50 million and $130 million in FHLB borrowings at September 30, 2015 and December 31, 2014, respectively.

FINANCIAL STATEMENT PRESENTAT21

FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Earnings Per Share	Earnings Per Share The reconciliation of basic and diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2015 and 2014 follows. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average common shares outstanding 11,674,697 11,586,564 11,636,155 11,578,350 Weighted average unvested restricted shares 111,034 74,980 106,921 33,440 Weighted average shares for basic earnings per share 11,785,731 11,661,544 11,743,076 11,611,790 Additional diluted shares: Stock options 77,568 54,742 74,823 56,201 Weighted average shares for diluted earnings per share 11,863,299 11,716,286 11,817,899 11,667,991
Loans and Loan Interest Income Recognition	Loans and Loan Interest Income Recognition Interest income is accrued on the unpaid loan principal balance. Recognition of interest income is discontinued when reasonable doubt exists as to whether principal or interest due can be collected. Loans of all classes will generally no longer accrue interest when over 90 days past due unless the loan is well-secured and in process of collection. When a loan is placed on non-accrual status, all interest previously accrued, but not collected, is reversed against current-year interest income. Interest received on such loans is applied against principal or interest, according to management’s judgment as to the collectability of the principal, until qualifying for return to accrual status. Loans may start accruing interest again when they become current as to principal and interest for at least six months, and when, after a well-documented analysis by management, it has been determined that the loans can be collected in full. For all classes of loans, an impaired loan is defined as a loan for which it is probable that the lender will not collect all amounts due under the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties are considered troubled debt restructurings (“TDRs”) and are classified as impaired. Generally, TDRs are initially classified as non-accrual until sufficient time has passed to assess whether the restructured loan will continue to perform. For impaired, accruing loans, interest income is recognized on an accrual basis with cash offsetting the recorded accruals upon receipt.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses consists of specific and general components, as well as an unallocated component. The specific component relates to loans that are individually classified as impaired. Specific reserves are established based on an analysis of the most probable sources of repayment or liquidation of collateral. Impaired loans that are collateral dependent are reviewed based on the fair market value of collateral and the estimated time required to recover the Company’s investment in the loans, as well as the cost of doing so, and the estimate of the recovery. Non-collateral dependent impaired loans are reviewed based on the present value of estimated future cash flows, including balloon payments, if any, using the loan’s effective interest rate. While every impaired loan is evaluated individually, not every loan requires a specific reserve. Specific reserves fluctuate based on changes in the underlying loans, anticipated sources of repayment, and charge-offs. The general component covers non-impaired loans and is based on historical loss experience for each loan class from a rolling twelve quarter period and modifying those percentages, if necessary, after adjusting for current qualitative and environmental factors that reflect changes in the estimated collectability of the loan class not captured by historical loss data. These factors augment actual loss experience and help estimate the probability of loss within the loan portfolio based on emerging or inherent risk trends. These qualitative factors are applied as an adjustment to historical loss rates and require judgments that cannot be subjected to exact mathematical calculation. These adjustments reflect management’s overall estimate of the extent to which current losses on a pool of loans will differ from historical loss experience. These adjustments are subjective estimates and management reviews them on a quarterly basis. TDRs are also considered impaired with impairment generally measured at the present value of estimated future cash flows using the loan’s effective interest rate at inception or using the fair value of collateral, less estimated costs to sell, if repayment is expected solely from the collateral. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio.
Loans Held For Sale	Loans Held For Sale
Bank Owned Life Insurance	Bank Owned Life Insurance
Derivatives	Derivatives
Recent Accounting Guidance	Recent Accounting Guidance In January 2014, the FASB issued ASU 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Topic 310), “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The ASU requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Company’s adoption of ASU 2014-04 on January 1, 2015 did not have a material effect on the Company’s consolidated financial statements.
Reclassifications	Reclassifications

FINANCIAL STATEMENT PRESENTAT22

FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2015
FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Reconciliation of basic and diluted weighted average number of common shares outstanding	The reconciliation of basic and diluted weighted average number of common shares outstanding for the three and nine months ended September 30, 2015 and 2014 follows. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average common shares outstanding 11,674,697 11,586,564 11,636,155 11,578,350 Weighted average unvested restricted shares 111,034 74,980 106,921 33,440 Weighted average shares for basic earnings per share 11,785,731 11,661,544 11,743,076 11,611,790 Additional diluted shares: Stock options 77,568 54,742 74,823 56,201 Weighted average shares for diluted earnings per share 11,863,299 11,716,286 11,817,899 11,667,991

ACCUMULATED OTHER COMPREHENSI23

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") (Tables)	9 Months Ended
	Sep. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") [Abstract]
Changes in AOCI by component, net of tax	The changes in the Company’s AOCI by component, net of tax, for the three and nine months ended September 30, 2015 and 2014 follow (in thousands). Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Beginning balance $ 2,108 $ (1,724 ) $ (7,675 ) $ (7,291 ) $ 2,976 $ (1,890 ) $ (3,194 ) $ (2,108 ) Other comprehensive income (loss) before reclassifications 1,087 - - 1,087 (634 ) (1 ) - (635 ) Amounts reclassified from AOCI (79 ) 55 - (24 ) (7 ) 41 - 34 Net other comprehensive income (loss) 1,008 55 - 1,063 (641 ) 40 - (601 ) Ending balance $ 3,116 $ (1,669 ) $ (7,675 ) $ (6,228 ) $ 2,335 $ (1,850 ) $ (3,194 ) $ (2,709 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Unrealized Gains and Losses on Available for Sale Securities Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity Pension and Post- Retirement Plan Items Total Beginning balance $ 2,637 $ (1,805 ) $ (7,675 ) $ (6,843 ) $ (4,095 ) $ - $ (3,194 ) $ (7,289 ) Other comprehensive income (loss) before reclassifications 670 - - 670 6,423 (1,944 ) - 4,479 Amounts reclassified from AOCI (191 ) 136 - (55 ) 7 94 - 101 Net other comprehensive income (loss) 479 136 - 615 6,430 (1,850 ) - 4,580 Ending balance $ 3,116 $ (1,669 ) $ (7,675 ) $ (6,228 ) $ 2,335 $ (1,850 ) $ (3,194 ) $ (2,709 )
Reclassifications out of AOCI	Reclassifications out of AOCI for the three and nine months ended September 30, 2015 and 2014 follow (in thousands). Amount Reclassified from AOCI Three Months Ended September 30, Nine Months Ended September 30, Affected Line Item in the Statement Details about AOCI Components 2015 2014 2015 2014 Where Net Income is Presented Unrealized gains and losses on available for sale securities $ 133 $ 11 $ 319 $ (12 ) Net gain (loss) on sale of securities available for sale Unrealized losses on securities transferred from available for sale to held to maturity (69 ) (67 ) (203 ) (153 ) Interest income - U.S. Government agency obligations (40 ) 22 (61 ) 64 Income tax expense Total, net of tax $ 24 $ (34 ) $ 55 $ (101 )

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
INVESTMENT SECURITIES [Abstract]
Amortized cost, estimated fair values, and gross unrealized gains and losses of securities available for sale and held to maturity	The amortized cost, fair value and gross unrealized gains and losses of the Company’s investment securities available for sale and held to maturity at September 30, 2015 and December 31, 2014 were as follows (in thousands): September 30, 2015 December 31, 2014 Amortized Gross Gross Fair Amortized Gross Gross Fair Available for sale: U.S. Government agency securities $ 38,977 $ 18 $ (201 ) $ 38,794 $ 42,474 $ - $ (897 ) $ 41,577 Obligations of states and political subdivisions 105,217 5,155 - 110,372 131,300 6,469 - 137,769 Collateralized mortgage obligations 16,547 48 (129 ) 16,466 22,105 423 (531 ) 21,997 Mortgage-backed securities 89,299 589 (258 ) 89,630 92,095 88 (1,264 ) 90,919 Corporate bonds 6,000 - (30 ) 5,970 6,336 90 (18 ) 6,408 Total available for sale securities 256,040 5,810 (618 ) 261,232 294,310 7,070 (2,710 ) 298,670 Held to maturity: U.S. Government agency securities 48,568 2,290 - 50,858 48,365 1,717 - 50,082 Obligations of states and political subdivisions 11,859 633 - 12,492 13,905 809 - 14,714 Corporate bonds 6,000 52 - 6,052 - - - - Total held to maturity securities 66,427 2,975 - 69,402 62,270 2,526 - 64,796 Total investment securities $ 322,467 $ 8,785 $ (618 ) $ 330,634 $ 356,580 $ 9,596 $ (2,710 ) $ 363,466
Investment securities amortized cost, maturities, and approximate fair value	The amortized cost, contractual maturities and fair value of the Company’s investment securities at September 30, 2015 (in thousands) are presented in the table below. Collateralized mortgage obligations (“CMOs”) and mortgage-backed securities (“MBS”) assume maturity dates pursuant to average lives. September 30, 2015 Amortized Fair Securities available for sale: Due in one year or less $ 29,275 $ 29,688 Due from one to five years 134,171 138,558 Due from five to ten years 92,594 92,986 Total securities available for sale 256,040 261,232 Securities held to maturity: Due in one year or less 836 859 Due from one to five years 4,363 4,650 Due from five to ten years 38,141 39,351 Due after ten years 23,087 24,542 Total securities held to maturity 66,427 69,402 Total investment securities $ 322,467 $ 330,634
Proceeds from sales of securities available for sale and the associated realized securities gains and losses	The proceeds from sales of securities available for sale and the associated realized gains and losses are shown below for the periods indicated (in thousands). Realized gains are also inclusive of gains on called securities. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Proceeds $ 3,077 $ - $ 10,080 $ 20,604 Gross realized gains $ 133 $ 11 $ 334 $ 240 Gross realized losses - - (15 ) (252 ) Net realized gains (losses) $ 133 $ 11 $ 319 $ (12 )
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position	Information pertaining to securities with unrealized losses at September 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows (in thousands): Less than 12 months 12 months or longer Total September 30, 2015 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government agency securities $ 13,941 $ (52 ) $ 19,851 $ (149 ) $ 33,792 $ (201 ) Collateralized mortgage obligations - - 8,447 (129 ) 8,447 (129 ) Mortgage-backed securities 13,841 (79 ) 18,495 (179 ) 32,336 (258 ) Corporate bonds 5,970 (30 ) - - 5,970 (30 ) Total $ 33,752 $ (161 ) $ 46,793 $ (457 ) $ 80,545 $ (618 ) Less than 12 months 12 months or longer Total December 31, 2014 Fair Unrealized Fair Unrealized Fair Unrealized U.S. Government agency securities $ - $ - $ 41,577 $ (897 ) $ 41,577 $ (897 ) Collateralized mortgage obligations - - 8,417 (531 ) 8,417 (531 ) Mortgage-backed securities - - 81,510 (1,264 ) 81,510 (1,264 ) Corporate bonds - - 2,982 (18 ) 2,982 (18 ) Total $ - $ - $ 134,486 $ (2,710 ) $ 134,486 $ (2,710 )

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Sep. 30, 2015
LOANS [Abstract]
Categorizes total loans	At September 30, 2015 and December 31, 2014, net loans disaggregated by class consisted of the following (in thousands): September 30, 2015 December 31, 2014 Commercial and industrial $ 181,116 $ 177,813 Commercial real estate 648,132 560,524 Multifamily 392,921 309,666 Mixed use commercial 64,381 34,806 Real estate construction 32,896 26,206 Residential mortgages 186,545 187,828 Home equity 46,990 50,982 Consumer 6,539 7,602 Gross loans 1,559,520 1,355,427 Allowance for loan losses (20,315 ) (19,200 ) Net loans at end of period $ 1,539,205 $ 1,336,227
Summary of the activity in the allowance for loan losses by loan class	The following summarizes the activity in the allowance for loan losses disaggregated by class for the periods indicated (in thousands). Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Commercial and industrial $ 2,073 $ (252 ) $ 138 $ (62 ) $ 1,897 $ 2,932 $ (104 ) $ 160 $ (1,121 ) $ 1,867 Commercial real estate 6,000 - 10 420 6,430 7,899 - 11 (499 ) 7,411 Multifamily 4,065 - - 252 4,317 2,444 - - 238 2,682 Mixed use commercial 465 - - 129 594 212 - - (6 ) 206 Real estate construction 478 - - 8 486 230 - - 36 266 Residential mortgages 2,571 - 4 120 2,695 2,650 - 4 193 2,847 Home equity 672 - 10 (6 ) 676 761 - 3 (55 ) 709 Consumer 150 (1 ) 5 (29 ) 125 166 (15 ) 13 13 177 Unallocated 3,577 - - (482 ) 3,095 1,184 - - 1,451 2,635 Total $ 20,051 $ (253 ) $ 167 $ 350 $ 20,315 $ 18,478 $ (119 ) $ 191 $ 250 $ 18,800 Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Balance at beginning of period Charge-offs Recoveries (Credit) provision for loan losses Balance at end of period Commercial and industrial $ 1,560 $ (744 ) $ 1,174 $ (93 ) $ 1,897 $ 2,615 $ (419 ) $ 663 $ (992 ) $ 1,867 Commercial real estate 6,777 - 28 (375 ) 6,430 6,572 - 508 331 7,411 Multifamily 4,018 - - 299 4,317 2,159 - - 523 2,682 Mixed use commercial 261 - - 333 594 54 - - 152 206 Real estate construction 383 - - 103 486 88 - - 178 266 Residential mortgages 3,027 - 31 (363 ) 2,695 2,463 (32 ) 12 404 2,847 Home equity 709 - 17 (50 ) 676 745 - 48 (84 ) 709 Consumer 166 (11 ) 20 (50 ) 125 241 (19 ) 26 (71 ) 177 Unallocated 2,299 - - 796 3,095 2,326 - - 309 2,635 Total $ 19,200 $ (755 ) $ 1,270 $ 600 $ 20,315 $ 17,263 $ (470 ) $ 1,257 $ 750 $ 18,800
Summary of changes in the allowance for loan losses	At September 30, 2015 and December 31, 2014, the ending balance in the allowance for loan losses disaggregated by class and impairment methodology is as follows (in thousands). Also in the tables below are total loans at September 30, 2015 and December 31, 2014 disaggregated by class and impairment methodology (in thousands). Allowance for Loan Losses Loan Balances September 30, 2015 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Commercial and industrial $ - $ 1,897 $ 1,897 $ 4,674 $ 176,442 $ 181,116 Commercial real estate - 6,430 6,430 5,285 642,847 648,132 Multifamily - 4,317 4,317 - 392,921 392,921 Mixed use commercial - 594 594 - 64,381 64,381 Real estate construction - 486 486 - 32,896 32,896 Residential mortgages 749 1,946 2,695 5,747 180,798 186,545 Home equity 182 494 676 1,852 45,138 46,990 Consumer 60 65 125 384 6,155 6,539 Unallocated - 3,095 3,095 - - - Total $ 991 $ 19,324 $ 20,315 $ 17,942 $ 1,541,578 $ 1,559,520 Allowance for Loan Losses Loan Balances December 31, 2014 Individually evaluated for impairment Collectively evaluated for impairment Ending balance Individually evaluated for impairment Collectively evaluated for impairment Ending balance Commercial and industrial $ 16 $ 1,544 $ 1,560 $ 4,889 $ 172,924 $ 177,813 Commercial real estate - 6,777 6,777 10,214 550,310 560,524 Multifamily - 4,018 4,018 - 309,666 309,666 Mixed use commercial - 261 261 - 34,806 34,806 Real estate construction - 383 383 - 26,206 26,206 Residential mortgages 809 2,218 3,027 5,422 182,406 187,828 Home equity 92 617 709 1,567 49,415 50,982 Consumer 88 78 166 323 7,279 7,602 Unallocated - 2,299 2,299 - - - Total $ 1,005 $ 18,195 $ 19,200 $ 22,415 $ 1,333,012 $ 1,355,427
Summary of impaired loans	The following table presents the Company’s impaired loans disaggregated by class at September 30, 2015 and December 31, 2014 (in thousands). September 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Balance Allowance Allocated Unpaid Principal Balance Recorded Balance Allowance Allocated With no allowance recorded: Commercial and industrial $ 4,668 $ 4,668 $ - $ 4,833 $ 4,833 $ - Commercial real estate 5,703 5,285 - 10,632 10,214 - Residential mortgages 2,209 2,080 - 1,645 1,516 - Home equity 1,398 1,398 - 1,377 1,377 - Consumer 210 210 - 137 137 - Subtotal 14,188 13,641 - 18,624 18,077 - With an allowance recorded: Commercial and industrial 6 6 - 57 56 16 Residential mortgages 3,667 3,667 749 3,906 3,906 809 Home equity 590 454 182 326 190 92 Consumer 175 174 60 185 186 88 Subtotal 4,438 4,301 991 4,474 4,338 1,005 Total $ 18,626 $ 17,942 $ 991 $ 23,098 $ 22,415 $ 1,005 The following table presents the Company’s average recorded investment in impaired loans and the related interest income recognized disaggregated by class for the three and nine months ended September 30, 2015 and 2014 (in thousands). No interest income was recognized on a cash basis on impaired loans for any of the periods presented. The interest income recognized on accruing impaired loans is shown in the following table. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Commercial and industrial $ 2,322 $ 226 $ 7,061 $ 128 $ 3,331 $ 485 $ 7,304 $ 679 Commercial real estate 6,213 48 10,424 49 8,590 647 11,045 204 Residential mortgages 5,817 166 5,148 24 5,604 245 5,069 100 Home equity 1,752 15 811 6 1,687 43 767 26 Consumer 349 5 289 7 374 11 222 14 Total $ 16,453 $ 460 $ 23,733 $ 214 $ 19,586 $ 1,431 $ 24,407 $ 1,023
Troubled debt restructurings	Outstanding TDRs, disaggregated by class, at September 30, 2015 and December 31, 2014 are as follows (dollars in thousands): September 30, 2015 December 31, 2014 TDRs Outstanding Number of Loans Outstanding Recorded Balance Number of Loans Outstanding Recorded Balance Commercial and industrial 18 $ 1,217 31 $ 3,683 Commercial real estate 6 5,068 8 10,179 Residential mortgages 21 4,576 19 4,314 Home equity 6 1,391 5 1,216 Consumer 8 308 7 281 Total 59 $ 12,560 70 $ 19,673 The following presents, disaggregated by class, information regarding TDRs executed during the three and nine months ended September 30, 2015 and 2014 (dollars in thousands): Three Months Ended September 30, 2015 2014 New TDRs Number of Pre-Modification Post-Modification Number of Pre-Modification Post-Modification Commercial and industrial 1 $ 8 $ 8 - $ - $ - Home equity 1 192 192 1 98 98 Consumer 1 43 43 1 46 46 Total 3 $ 243 $ 243 2 $ 144 $ 144 Nine Months Ended September 30, 2015 2014 New TDRs Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Number of Loans Pre-Modification Outstanding Recorded Balance Post-Modification Outstanding Recorded Balance Commercial and industrial 3 $ 343 $ 343 10 $ 1,877 $ 1,877 Commercial real estate - - - 2 5,161 5,161 Residential mortgages 2 194 199 3 273 273 Home equity 1 192 192 3 207 207 Consumer 1 43 43 4 145 145 Total 7 $ 772 $ 777 22 $ 7,663 $ 7,663 Presented below and disaggregated by class is information regarding loans modified as TDRs that had payment defaults of 90 days or more within twelve months of restructuring during the nine months ended September 30, 2015 and 2014 (dollars in thousands). There were no such loans during the three months ended September 30, 2015 and 2014. Nine Months Ended September 30, 2015 2014 Defaulted TDRs Number Outstanding Number Outstanding Commercial real estate - $ - 2 $ 1,536 Consumer 1 46 - - Total 1 $ 46 2 $ 1,536
Summary of impaired and non-accrual loans	The following table presents a summary of non-performing assets for each period (in thousands): September 30, 2015 December 31, 2014 Non-accrual loans $ 7,501 $ 12,981 Non-accrual loans held for sale - - Loans 90 days past due and still accruing - - OREO - - Total non-performing assets $ 7,501 $ 12,981 TDRs accruing interest $ 10,172 $ 9,380 TDRs non-accruing $ 2,388 $ 10,293
Summarizes non-accrual loans by loan class	At September 30, 2015 and December 31, 2014, non-accrual loans disaggregated by class were as follows (dollars in thousands): September 30, 2015 December 31, 2014 Non- accrual loans % of Total Total Loans % of Total Loans Non- accrual loans % of Total Total Loans % of Total Loans Commercial and industrial $ 3,662 48.8 % $ 181,116 0.2 % $ 4,060 31.3 % $ 177,813 0.3 % Commercial real estate 1,746 23.3 648,132 0.1 6,556 50.5 560,524 0.5 Multifamily - - 392,921 - - - 309,666 - Mixed use commercial - - 64,381 - - - 34,806 - Real estate construction - - 32,896 - - - 26,206 - Residential mortgages 1,424 19.0 186,545 0.1 2,020 15.6 187,828 0.1 Home equity 548 7.3 46,990 0.1 303 2.3 50,982 0.1 Consumer 121 1.6 6,539 - 42 0.3 7,602 - Total $ 7,501 100.0 % $ 1,559,520 0.5 % $ 12,981 100.0 % $ 1,355,427 1.0 %
Summary of current and past due loans	At September 30, 2015 and December 31, 2014, past due loans disaggregated by class were as follows (in thousands). Past Due September 30, 2015 30 - 59 days 60 - 89 days 90 days and over Total Current Total Commercial and industrial $ - $ - $ 3,662 $ 3,662 $ 177,454 $ 181,116 Commercial real estate - - 1,746 1,746 646,386 648,132 Multifamily - - - - 392,921 392,921 Mixed use commercial - - - - 64,381 64,381 Real estate construction - - - - 32,896 32,896 Residential mortgages 523 176 1,424 2,123 184,422 186,545 Home equity 302 - 548 850 46,140 46,990 Consumer - - 121 121 6,418 6,539 Total $ 825 $ 176 $ 7,501 $ 8,502 $ 1,551,018 $ 1,559,520 % of Total Loans 0.1 % 0.0 % 0.5 % 0.6 % 99.4 % 100.0 % Past Due December 31, 2014 30 - 59 days 60 - 89 days 90 days and over Total Current Total Commercial and industrial $ 52 $ 241 $ 4,060 $ 4,353 $ 173,460 $ 177,813 Commercial real estate - - 6,556 6,556 553,968 560,524 Multifamily - - - - 309,666 309,666 Mixed use commercial - - - - 34,806 34,806 Real estate construction - - - - 26,206 26,206 Residential mortgages 822 - 2,020 2,842 184,986 187,828 Home equity - 112 303 415 50,567 50,982 Consumer 59 77 42 178 7,424 7,602 Total $ 933 $ 430 $ 12,981 $ 14,344 $ 1,341,083 $ 1,355,427 % of Total Loans 0.1 % 0.0 % 1.0 % 1.1 % 98.9 % 100.0 %
Credit risk profile by internally assigned grade	The following presents the Company’s loan portfolio credit risk profile by internally assigned grade disaggregated by class of loan at September 30, 2015 and December 31, 2014 (in thousands). September 30, 2015 December 31, 2014 Grade Grade Pass Special mention Substandard Total Pass Special mention Substandard Total Commercial and industrial $ 170,122 $ 1,788 $ 9,206 $ 181,116 $ 167,922 $ 1,225 $ 8,666 $ 177,813 Commercial real estate 632,330 12,292 3,510 648,132 536,536 9,182 14,806 560,524 Multifamily 392,921 - - 392,921 309,666 - - 309,666 Mixed use commercial 64,369 - 12 64,381 34,806 - - 34,806 Real estate construction 32,896 - - 32,896 26,206 - - 26,206 Residential mortgages 184,747 - 1,798 186,545 183,263 - 4,565 187,828 Home equity 46,442 - 548 46,990 49,569 - 1,413 50,982 Consumer 6,375 - 164 6,539 7,279 - 323 7,602 Total $ 1,530,202 $ 14,080 $ 15,238 $ 1,559,520 $ 1,315,247 $ 10,407 $ 29,773 $ 1,355,427 % of Total 98.1 % 0.9 % 1.0 % 100.0 % 97.0 % 0.8 % 2.2 % 100.0 %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2015
STOCK-BASED COMPENSATION [Abstract]
Summary of stock option activity	A summary of stock option activity follows: Number Weighted-Average Outstanding, January 1, 2015 251,100 $ 16.33 Granted - - Exercised (39,334 ) $ 13.71 Forfeited or expired (16,666 ) $ 19.67 Outstanding, September 30, 2015 195,100 $ 16.58
Summary of options outstanding and exercisable	The following summarizes shares subject to purchase from stock options outstanding and exercisable as of September 30, 2015: Outstanding Exercisable Range of Shares Weighted-Average Remaining Contractual Life Weighted-Average Shares Weighted-Average Remaining Contractual Life Weighted-Average $10.00 - $14.00 90,000 6.3 years $ 11.68 56,667 6.4 years $ 12.20 $14.01 - $20.00 83,100 7.8 years $ 17.80 50,774 7.8 years $ 17.64 $20.01 - $30.00 5,000 3.3 years $ 28.30 5,000 3.3 years $ 28.30 $30.01 - $40.00 17,000 1.3 years $ 33.12 17,000 1.3 years $ 33.12 195,100 6.4 years $ 16.58 129,441 6.1 years $ 17.70
Summary of restricted stock activity	A summary of restricted stock activity follows: Number of Shares Weighted-Average Grant-Date Fair Value Nonvested, January 1, 2015 72,350 $ 22.51 Granted 71,612 $ 23.18 Vested (25,948 ) $ 22.55 Forfeited or expired (9,941 ) $ 22.61 Nonvested, September 30, 2015 108,073 $ 22.94

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	9 Months Ended
	Sep. 30, 2015
REGULATORY MATTERS [Abstract]
The Bank's actual capital amounts and ratios	The Bank’s capital amounts (in thousands) and ratios are as follows: Actual capital ratios Minimum Minimum to be Well Amount Ratio Amount Ratio Amount Ratio September 30, 2015 Total capital to risk-weighted assets $ 216,671 13.01 % $ 133,233 8.00 % $ 166,541 10.00 % Tier 1 capital to risk-weighted assets 196,066 11.77 % 99,925 6.00 % 133,233 8.00 % Common equity tier 1 capital to risk-weighted assets 196,066 11.77 % 74,944 4.50 % 108,252 6.50 % Tier 1 capital to adjusted average assets (leverage) 196,066 9.78 % 80,223 4.00 % 100,279 5.00 % December 31, 2014 Total capital to risk-weighted assets $ 201,476 13.25 % $ 121,608 8.00 % $ 152,010 10.00 % Tier 1 capital to risk-weighted assets 182,469 12.00 % 60,804 4.00 % 91,206 6.00 % Tier 1 capital to adjusted average assets (leverage) 182,469 9.96 % 73,312 4.00 % 91,640 5.00 %

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2015
FAIR VALUE [Abstract]
Carrying amounts and fair values of financial instruments	The following table presents the carrying amounts and fair values of the Company Level in September 30, 2015 December 31, 2014 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial Assets: Cash and due from banks Level 1 $ 97,800 $ 97,800 $ 54,516 $ 54,516 Federal funds sold Level 2 - - 1,000 1,000 Interest-bearing time deposits in other banks Level 2 - - 10,000 10,017 Investment securities held to maturity Level 2 66,427 69,402 62,270 64,796 Investment securities available for sale Level 2 261,232 261,232 298,670 298,670 Loans held for sale Level 2 745 745 26,495 26,495 Loans, net of allowance Level 2, 3 (1) 1,539,205 1,537,750 1,336,227 1,329,041 Accrued interest and loan fees receivable Level 2 6,349 6,349 5,676 5,676 Financial Liabilities: Non-maturity deposits Level 2 1,560,292 1,560,292 1,337,301 1,337,301 Time deposits Level 2 235,539 235,883 218,759 219,089 Borrowings Level 2 50,000 50,052 130,000 130,004 Accrued interest payable Level 2 187 187 136 136 Derivatives Level 3 752 752 752 752 (1) Impaired loans are generally classified within Level 3 of the fair value hierarchy.
Assets measured at fair value on a non-recurring basis	Assets measured at fair value on a non-recurring basis are as follows (in thousands): Assets: September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Impaired loans $ 3,304 $ 3,304 Total $ 3,304 $ 3,304 Assets: December 31, 2014 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Impaired loans $ 3,293 $ 3,293 Total $ 3,293 $ 3,293
Fair value inputs, quantitative information	The following presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis (dollars in thousands): Fair Value at Assets: September 30, 2015 December 31, 2014 Valuation Technique Unobservable Inputs Discount Impaired loans: Residential mortgages 2,918 3,097 Third party appraisal Discount to appraised value 25 % (1) Home equity 272 98 Third party appraisal Discount to appraised value 25 % (1) Consumer 114 98 Third party appraisal Discount to appraised value 25 % (2) Total $ 3,304 $ 3,293 (1) Of which estimated selling costs are approximately 9% - 15% of the total discount. (2) Of which estimated selling costs are approximately 10% - 12% of the total discount.
Valuation of financial instruments measured at fair value on recurring basis	The following presents fair value measurements on a recurring basis at September 30, 2015 and December 31, 2014 (in thousands): Fair Value Measurements Using Significant Other Observable Inputs Significant Unobservable Inputs Assets: September 30, 2015 (Level 2) (Level 3) U.S. Government agency securities $ 38,794 $ 38,794 $ - Obligations of states and political subdivisions 110,372 110,372 - Collateralized mortgage obligations 16,466 16,466 - Mortgage-backed securities 89,630 89,630 - Corporate bonds 5,970 5,970 - Total $ 261,232 $ 261,232 $ - Liabilities: Derivatives 752 $ - $ 752 Total $ 752 $ - $ 752 Fair Value Measurements Using Significant Other Observable Inputs Significant Unobservable Inputs Assets: December 31, 2014 (Level 2) (Level 3) U.S. Government agency securities $ 41,577 $ 41,577 $ - Obligations of states and political subdivisions 137,769 137,769 - Collateralized mortgage obligations 21,997 21,997 - Mortgage-backed securities 90,919 90,919 - Corporate bonds 6,408 6,408 - Total $ 298,670 $ 298,670 $ - Liabilities: Derivatives 752 $ - $ 752 Total $ 752 $ - $ 752
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis	Reconciliations for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follow (in thousands). Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Liabilities Derivatives Liabilities Derivatives Liabilities Derivatives Liabilities Derivatives Beginning balance $ 752 $ 932 $ 752 $ 932 Net change - - - - Ending balance $ 752 $ 932 $ 752 $ 932

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2015
BORROWINGS [Abstract]
Schedule of components of short- and long-term interest-bearing liabilities	The following summarizes borrowed funds at September 30, 2015 and December 31, 2014 (dollars in thousands): As of or for the Nine Months Ended September 30, 2015 Federal Home Loan Federal Home Loan Federal Funds Daily average outstanding $ 69,066 $ 9,396 $ 2 Total interest cost 186 124 - Average interest rate paid 0.36 % 1.76 % 0.45 % Maximum amount outstanding at any month-end $ 155,000 $ 15,000 $ - Ending balance 35,000 15,000 - Weighted-average interest rate on balances outstanding 0.40 % 1.76 % - % As of or for the Year Ended December 31, 2014 Federal Home Loan Federal Home Loan Federal Funds Daily average outstanding $ 13,051 $ - $ 8 Total interest cost 48 - - Average interest rate paid 0.37 % - % 0.46 % Maximum amount outstanding at any month-end $ 130,000 $ - $ - Ending balance 130,000 - - Weighted-average interest rate on balances outstanding 0.32 % - % - %

FINANCIAL STATEMENT PRESENTAT30

FINANCIAL STATEMENT PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)shares	Sep. 30, 2014shares	Sep. 30, 2015USD ($)Corporationshares	Sep. 30, 2014shares
Summary of Significant Accounting Policies [Abstract]
Ownership percentage	100.00%		100.00%
Number of corporation used to acquire foreclosed real estate | Corporation			2
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average common shares outstanding (in shares)	11,674,697	11,586,564	11,636,155	11,578,350
Weighted average unvested restricted shares (in shares)	111,034	74,980	106,921	33,440
Weighted average shares for basic earnings per share (in shares)	11,785,731	11,661,544	11,743,076	11,611,790
Additional diluted shares [Abstract]
Stock options (in shares)	77,568	54,742	74,823	56,201
Weighted average shares for diluted earnings per share (in shares)	11,863,299	11,716,286	11,817,899	11,667,991
Loans and Loan Interest Income Recognition [Abstract]
Maximum period for accrued interest for all class of loans			90 days
Allowance for Loan Losses [Abstract]
Threshold for non-accrual loans to be evaluated individually for impairment | $	$ 250		$ 250

ACCUMULATED OTHER COMPREHENSI31

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (7,291)	$ (2,108)	$ (6,843)	$ (7,289)
Other comprehensive income (loss) before reclassifications	1,087	(635)	670	4,479
Amounts reclassified from AOCI	(24)	34	(55)	101
Net other comprehensive income (loss)	1,063	(601)	615	4,580
Ending balance	(6,228)	(2,709)	(6,228)	(2,709)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain (loss) on sale of securities available for sale	133	11	319	(12)
Interest income - U.S. Government agency obligations	(530)	(553)	(1,602)	(1,772)
Income tax expense	1,864	875	4,684	3,033
Net income	(4,923)	(3,738)	(14,050)	(11,229)
Reclassification Out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain (loss) on sale of securities available for sale	133	11	319	(12)
Interest income - U.S. Government agency obligations	(69)	(67)	(203)	(153)
Income tax expense	(40)	22	(61)	64
Net income	24	(34)	55	(101)
Unrealized Gains and Losses on Available for Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	2,108	2,976	2,637	(4,095)
Other comprehensive income (loss) before reclassifications	1,087	(634)	670	6,423
Amounts reclassified from AOCI	(79)	(7)	(191)	7
Net other comprehensive income (loss)	1,008	(641)	479	6,430
Ending balance	3,116	2,335	3,116	2,335
Unrealized Losses on Securities Transferred from Available for Sale to Held to Maturity [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,724)	(1,890)	(1,805)	0
Other comprehensive income (loss) before reclassifications	0	(1)	0	(1,944)
Amounts reclassified from AOCI	55	41	136	94
Net other comprehensive income (loss)	55	40	136	(1,850)
Ending balance	(1,669)	(1,850)	(1,669)	(1,850)
Pension and Post-Retirement Plan Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(7,675)	(3,194)	(7,675)	(3,194)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI	0	0	0	0
Net other comprehensive income (loss)	0	0	0	0
Ending balance	$ (7,675)	$ (3,194)	$ (7,675)	$ (3,194)

INVESTMENT SECURITIES, Amortize

INVESTMENT SECURITIES, Amortized Cost, Estimated Values and Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
INVESTMENT SECURITIES [Abstract]
Investment securities transferred from available for sale to held to maturity, fair value	$ 0	$ 48,147	$ 48,000
Investment securities transferred from available for sale to held to maturity, unrealized gain (loss)			(3,200)
Available for sale [Abstract]
Amortized Cost	256,040		294,310
Gross Unrealized Gains	5,810		7,070
Gross Unrealized Losses	(618)		(2,710)
Investment securities available for sale	261,232		298,670
Held to maturity [Abstract]
Amortized Cost	66,427		62,270
Gross Unrealized Gains	2,975		2,526
Gross Unrealized Losses	0		0
Fair Value	69,402		64,796
Total investment securities [Abstract]
Total investment securities, Amortized Cost	322,467		356,580
Total Gross Unrealized Gains	8,785		9,596
Total Gross Unrealized Losses	(618)		(2,710)
Total investment securities, Fair Value	330,634		363,466
Investment securities pledged	268,000		245,000
U.S. Government Agency Securities [Member]
Available for sale [Abstract]
Amortized Cost	38,977		42,474
Gross Unrealized Gains	18		0
Gross Unrealized Losses	(201)		(897)
Investment securities available for sale	38,794		41,577
Obligations of States and Political Subdivisions [Member]
Available for sale [Abstract]
Amortized Cost	105,217		131,300
Gross Unrealized Gains	5,155		6,469
Gross Unrealized Losses	0		0
Investment securities available for sale	110,372		137,769
Collateralized Mortgage Obligations [Member]
Available for sale [Abstract]
Amortized Cost	16,547		22,105
Gross Unrealized Gains	48		423
Gross Unrealized Losses	(129)		(531)
Investment securities available for sale	16,466		21,997
Mortgage-Backed Securities [Member]
Available for sale [Abstract]
Amortized Cost	89,299		92,095
Gross Unrealized Gains	589		88
Gross Unrealized Losses	(258)		(1,264)
Investment securities available for sale	89,630		90,919
Corporate Bonds [Member]
Available for sale [Abstract]
Amortized Cost	6,000		6,336
Gross Unrealized Gains	0		90
Gross Unrealized Losses	(30)		(18)
Investment securities available for sale	5,970		6,408
U.S. Government Agency Securities [Member]
Held to maturity [Abstract]
Amortized Cost	48,568		48,365
Gross Unrealized Gains	2,290		1,717
Gross Unrealized Losses	0		0
Fair Value	50,858		50,082
Obligations of States and Political Subdivisions [Member]
Held to maturity [Abstract]
Amortized Cost	11,859		13,905
Gross Unrealized Gains	633		809
Gross Unrealized Losses	0		0
Fair Value	12,492		14,714
Corporate Bonds [Member]
Held to maturity [Abstract]
Amortized Cost	6,000		0
Gross Unrealized Gains	52		0
Gross Unrealized Losses	0		0
Fair Value	$ 6,052		$ 0

INVESTMENT SECURITIES, Amorti33

INVESTMENT SECURITIES, Amortized Cost, Maturities and Approximate Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Amortized Cost [Abstract]
Due in one year or less	$ 29,275
Due from one to five years	134,171
Due from five to ten years	92,594
Amortized Cost	256,040	$ 294,310
Fair Value [Abstract]
Due in one year or less	29,688
Due from one to five years	138,558
Due from five to ten years	92,986
Total securities available for sale	261,232	298,670
Amortized Cost [Abstract]
Due in one year or less	836
Due from one to five years	4,363
Due from five to ten years	38,141
Due after ten years	23,087
Amortized Cost	66,427	62,270
Fair Value [Abstract]
Due in one year or less	859
Due from one to five years	4,650
Due from five to ten years	39,351
Due after ten years	24,542
Total securities held to maturity	69,402	64,796
Total investment securities, Amortized Cost	322,467	356,580
Total investment securities, Fair Value	$ 330,634	$ 363,466

INVESTMENT SECURITIES, Securiti

INVESTMENT SECURITIES, Securities Sales And Continuous Unrealized Loss Position Of Securities Held (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Proceeds from sales of securities available for sale and the associated realized securities gains and losses [Abstract]
Proceeds	$ 3,077	$ 0	$ 10,080	$ 20,604
Gross realized gains	133	11	334	240
Gross realized losses	0	0	15	252
Net realized gains (losses)	133	$ 11	319	$ (12)
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position [Abstract]
Less than 12 months Fair Value	33,752		33,752		$ 0
Less than 12 months Unrealized Losses	(161)		(161)		0
12 months or longer Fair Value	46,793		46,793		134,486
12 months or longer Unrealized Losses	(457)		(457)		(2,710)
Total Fair Value	80,545		80,545		134,486
Total Unrealized Losses	(618)		(618)		(2,710)
U.S. Government Agency Securities [Member]
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position [Abstract]
Less than 12 months Fair Value	13,941		13,941		0
Less than 12 months Unrealized Losses	(52)		(52)		0
12 months or longer Fair Value	19,851		19,851		41,577
12 months or longer Unrealized Losses	(149)		(149)		(897)
Total Fair Value	33,792		33,792		41,577
Total Unrealized Losses	(201)		(201)		(897)
Collateralized Mortgage Obligations [Member]
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position [Abstract]
Less than 12 months Fair Value	0		0		0
Less than 12 months Unrealized Losses	0		0		0
12 months or longer Fair Value	8,447		8,447		8,417
12 months or longer Unrealized Losses	(129)		(129)		(531)
Total Fair Value	8,447		8,447		8,417
Total Unrealized Losses	(129)		(129)		(531)
Mortgage-Backed Securities [Member]
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position [Abstract]
Less than 12 months Fair Value	13,841		13,841		0
Less than 12 months Unrealized Losses	(79)		(79)		0
12 months or longer Fair Value	18,495		18,495		81,510
12 months or longer Unrealized Losses	(179)		(179)		(1,264)
Total Fair Value	32,336		32,336		81,510
Total Unrealized Losses	(258)		(258)		(1,264)
Corporate Bonds [Member]
Length of time individual securities for held-to-maturity and available-for-sale held in a continuous unrealized loss position [Abstract]
Less than 12 months Fair Value	5,970		5,970		0
Less than 12 months Unrealized Losses	(30)		(30)		0
12 months or longer Fair Value	0		0		2,982
12 months or longer Unrealized Losses	0		0		(18)
Total Fair Value	5,970		5,970		2,982
Total Unrealized Losses	$ (30)		$ (30)		$ (18)

INVESTMENT SECURITIES, Other Di

INVESTMENT SECURITIES, Other Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Investment securities other disclosures [Abstract]
Contingent liability from counterparty estimated future exposure from Visa litigation	$ 752		$ 752		$ 752
Approximate cash payment per quarter for Visa litigation	73	$ 57	214	$ 172
US Government agency securities held as available-for-sale pledged as collateral	$ 3,000		$ 3,000		$ 3,000
Shares of Visa Class B securities held (in shares)	38,638		38,638

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Categorized total loans [Abstract]
Gross loans	$ 1,559,520		$ 1,355,427
Allowance for loan losses	(20,315)	$ (20,051)	(19,200)	$ (18,800)	$ (18,478)	$ (17,263)
Net loans	1,539,205		1,336,227
Commercial and Industrial [Member]
Categorized total loans [Abstract]
Gross loans	181,116		177,813
Allowance for loan losses	(1,897)	(2,073)	(1,560)	(1,867)	(2,932)	(2,615)
Commercial Real Estate [Member]
Categorized total loans [Abstract]
Gross loans	648,132		560,524
Allowance for loan losses	(6,430)	(6,000)	(6,777)	(7,411)	(7,899)	(6,572)
Multifamily [Member]
Categorized total loans [Abstract]
Gross loans	392,921		309,666
Allowance for loan losses	(4,317)	(4,065)	(4,018)	(2,682)	(2,444)	(2,159)
Mixed Use Commercial [Member]
Categorized total loans [Abstract]
Gross loans	64,381		34,806
Allowance for loan losses	(594)	(465)	(261)	(206)	(212)	(54)
Real Estate Construction [Member]
Categorized total loans [Abstract]
Gross loans	32,896		26,206
Allowance for loan losses	(486)	(478)	(383)	(266)	(230)	(88)
Residential Mortgages [Member]
Categorized total loans [Abstract]
Gross loans	186,545		187,828
Allowance for loan losses	(2,695)	(2,571)	(3,027)	(2,847)	(2,650)	(2,463)
Home Equity [Member]
Categorized total loans [Abstract]
Gross loans	46,990		50,982
Allowance for loan losses	(676)	$ (672)	(709)	$ (709)	$ (761)	$ (745)
Consumer [Member]
Categorized total loans [Abstract]
Gross loans	6,539		7,602
Allowance for loan losses	$ (125)		$ (166)

LOANS, Analysis of Changes in t

LOANS, Analysis of Changes in the Allowances for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Allowance for loan losses [Abstract]
Balance at beginning of period	$ 20,051	$ 18,478	$ 19,200	$ 17,263
Charge-offs	(253)	(119)	(755)	(470)
Recoveries	167	191	1,270	1,257
(Credit) provision for loan losses	350	250	600	750
Balance at end of period	20,315	18,800	20,315	18,800
Commercial and Industrial [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	2,073	2,932	1,560	2,615
Charge-offs	(252)	(104)	(744)	(419)
Recoveries	138	160	1,174	663
(Credit) provision for loan losses	(62)	(1,121)	(93)	(992)
Balance at end of period	1,897	1,867	1,897	1,867
Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	6,000	7,899	6,777	6,572
Charge-offs	0	0	0	0
Recoveries	10	11	28	508
(Credit) provision for loan losses	420	(499)	(375)	331
Balance at end of period	6,430	7,411	6,430	7,411
Multifamily [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	4,065	2,444	4,018	2,159
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
(Credit) provision for loan losses	252	238	299	523
Balance at end of period	4,317	2,682	4,317	2,682
Mixed Use Commercial [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	465	212	261	54
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
(Credit) provision for loan losses	129	(6)	333	152
Balance at end of period	594	206	594	206
Real Estate Construction [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	478	230	383	88
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
(Credit) provision for loan losses	8	36	103	178
Balance at end of period	486	266	486	266
Residential Mortgages [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	2,571	2,650	3,027	2,463
Charge-offs	0	0	0	(32)
Recoveries	4	4	31	12
(Credit) provision for loan losses	120	193	(363)	404
Balance at end of period	2,695	2,847	2,695	2,847
Home Equity [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	672	761	709	745
Charge-offs	0	0	0	0
Recoveries	10	3	17	48
(Credit) provision for loan losses	(6)	(55)	(50)	(84)
Balance at end of period	676	709	676	709
Consumer [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	150	166	166	241
Charge-offs	(1)	(15)	(11)	(19)
Recoveries	5	13	20	26
(Credit) provision for loan losses	(29)	13	(50)	(71)
Balance at end of period	125	177	125	177
Unallocated [Member]
Allowance for loan losses [Abstract]
Balance at beginning of period	3,577	1,184	2,299	2,326
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
(Credit) provision for loan losses	(482)	1,451	796	309
Balance at end of period	$ 3,095	$ 2,635	$ 3,095	$ 2,635

LOANS, Loans and Allowance for

LOANS, Loans and Allowance for Loan Losses Impairment Evaluations (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	$ 991		$ 1,005
Ending balance: collectively evaluated for impairment	19,324		18,195
Ending balance	20,315	$ 20,051	19,200	$ 18,800	$ 18,478	$ 17,263
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	17,942		22,415
Ending balance: collectively evaluated for impairment	1,541,578		1,333,012
Total loans	1,559,520		1,355,427
Commercial and Industrial [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		16
Ending balance: collectively evaluated for impairment	1,897		1,544
Ending balance	1,897	2,073	1,560	1,867	2,932	2,615
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	4,674		4,889
Ending balance: collectively evaluated for impairment	176,442		172,924
Total loans	181,116		177,813
Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	6,430		6,777
Ending balance	6,430	6,000	6,777	7,411	7,899	6,572
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	5,285		10,214
Ending balance: collectively evaluated for impairment	642,847		550,310
Total loans	648,132		560,524
Multifamily [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	4,317		4,018
Ending balance	4,317	4,065	4,018	2,682	2,444	2,159
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	392,921		309,666
Total loans	392,921		309,666
Mixed Use Commercial [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	594		261
Ending balance	594	465	261	206	212	54
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	64,381		34,806
Total loans	64,381		34,806
Real Estate Construction [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	486		383
Ending balance	486	478	383	266	230	88
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	32,896		26,206
Total loans	32,896		26,206
Residential Mortgages [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	749		809
Ending balance: collectively evaluated for impairment	1,946		2,218
Ending balance	2,695	2,571	3,027	2,847	2,650	2,463
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	5,747		5,422
Ending balance: collectively evaluated for impairment	180,798		182,406
Total loans	186,545		187,828
Home Equity [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	182		92
Ending balance: collectively evaluated for impairment	494		617
Ending balance	676	672	709	709	761	745
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	1,852		1,567
Ending balance: collectively evaluated for impairment	45,138		49,415
Total loans	46,990		50,982
Consumer [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	60		88
Ending balance: collectively evaluated for impairment	65		78
Ending balance	125		166
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	384		323
Ending balance: collectively evaluated for impairment	6,155		7,279
Total loans	6,539		7,602
Unallocated [Member]
Allowance for loan losses [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	3,095		2,299
Ending balance	3,095	$ 3,577	2,299	$ 2,635	$ 1,184	$ 2,326
Loan balances [Abstract]
Ending balance: individually evaluated for impairment	0		0
Ending balance: collectively evaluated for impairment	0		0
Total loans	$ 0		$ 0

LOANS, Summary of Impaired Loan

LOANS, Summary of Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	$ 14,188		$ 14,188		$ 18,624
Impaired loans with an allowance recorded, Unpaid Principal Balance	4,438		4,438		4,474
Impaired loans, Unpaid Principal Balance, Total	18,626		18,626		23,098
Impaired loans with no allowance recorded, Recorded Balance	13,641		13,641		18,077
Impaired loans with an allowance recorded, Recorded Balance	4,301		4,301		4,338
Impaired loans, Recorded Balance, Total	17,942		17,942		22,415
Impaired loans, No Allowance Allocated	0		0		0
Impaired loans, Allowance Allocated	991		991		1,005
Average recorded investment in impaired loans	16,453	$ 23,733	19,586	$ 24,407
Interest income recognized on impaired loans	460	214	1,431	1,023
Commercial and Industrial [Member]
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	4,668		4,668		4,833
Impaired loans with an allowance recorded, Unpaid Principal Balance	6		6		57
Impaired loans with no allowance recorded, Recorded Balance	4,668		4,668		4,833
Impaired loans with an allowance recorded, Recorded Balance	6		6		56
Impaired loans, No Allowance Allocated	0		0		0
Impaired loans, Allowance Allocated	0		0		16
Average recorded investment in impaired loans	2,322	7,061	3,331	7,304
Interest income recognized on impaired loans	226	128	485	679
Commercial Real Estate [Member]
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	5,703		5,703		10,632
Impaired loans with no allowance recorded, Recorded Balance	5,285		5,285		10,214
Impaired loans, No Allowance Allocated	0		0		0
Average recorded investment in impaired loans	6,213	10,424	8,590	11,045
Interest income recognized on impaired loans	48	49	647	204
Residential Mortgages [Member]
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	2,209		2,209		1,645
Impaired loans with an allowance recorded, Unpaid Principal Balance	3,667		3,667		3,906
Impaired loans with no allowance recorded, Recorded Balance	2,080		2,080		1,516
Impaired loans with an allowance recorded, Recorded Balance	3,667		3,667		3,906
Impaired loans, No Allowance Allocated	0		0		0
Impaired loans, Allowance Allocated	749		749		809
Average recorded investment in impaired loans	5,817	5,148	5,604	5,069
Interest income recognized on impaired loans	166	24	245	100
Home Equity [Member]
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	1,398		1,398		1,377
Impaired loans with an allowance recorded, Unpaid Principal Balance	590		590		326
Impaired loans with no allowance recorded, Recorded Balance	1,398		1,398		1,377
Impaired loans with an allowance recorded, Recorded Balance	454		454		190
Impaired loans, No Allowance Allocated	0		0		0
Impaired loans, Allowance Allocated	182		182		92
Average recorded investment in impaired loans	1,752	811	1,687	767
Interest income recognized on impaired loans	15	6	43	26
Consumer [Member]
Summary of impaired loans [Abstract]
Impaired loans with no allowance recorded, Unpaid Principal Balance	210		210		137
Impaired loans with an allowance recorded, Unpaid Principal Balance	175		175		185
Impaired loans with no allowance recorded, Recorded Balance	210		210		137
Impaired loans with an allowance recorded, Recorded Balance	174		174		186
Impaired loans, No Allowance Allocated	0		0		0
Impaired loans, Allowance Allocated	60		60		$ 88
Average recorded investment in impaired loans	349	289	374	222
Interest income recognized on impaired loans	$ 5	$ 7	$ 11	$ 14

LOANS, Loans Modified as Troubl

LOANS, Loans Modified as Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Loan	Sep. 30, 2014USD ($)Loan	Sep. 30, 2015USD ($)Loan	Sep. 30, 2014USD ($)Loan	Dec. 31, 2014USD ($)Loan
Financing Receivable, Modifications [Line Items]
Allocation of specific reserve regarding troubled debt restructuring	$ 748		$ 748		$ 790
Troubled debt restructuring funds committed	$ 45		$ 45		$ 100
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	59		59		70
Outstanding Recorded Balance	$ 12,560		$ 12,560		$ 19,673
Troubled debt restructured during year [Abstract]
Number of Loans | Loan	3	2	7	22
Pre-Modification, Outstanding Recorded Balance	$ 243	$ 144	$ 772	$ 7,663
Post-modification, Outstanding Recorded Balance	243	144	$ 777	$ 7,663
Defaulted Troubled Debt Restructurings [Member]
Troubled debt restructured during year [Abstract]
Number of Loans | Loan			1	2
Pre-Modification, Outstanding Recorded Balance	$ 0	$ 0	$ 46	$ 1,536
Commercial and Industrial [Member]
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	18		18		31
Outstanding Recorded Balance	$ 1,217		$ 1,217		$ 3,683
Troubled debt restructured during year [Abstract]
Number of Loans | Loan	1	0	3	10
Pre-Modification, Outstanding Recorded Balance	$ 8	$ 0	$ 343	$ 1,877
Post-modification, Outstanding Recorded Balance	$ 8	$ 0	$ 343	$ 1,877
Commercial Real Estate [Member]
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	6		6		8
Outstanding Recorded Balance	$ 5,068		$ 5,068		$ 10,179
Troubled debt restructured during year [Abstract]
Number of Loans | Loan			0	2
Pre-Modification, Outstanding Recorded Balance			$ 0	$ 5,161
Post-modification, Outstanding Recorded Balance			$ 0	$ 5,161
Commercial Real Estate [Member] | Defaulted Troubled Debt Restructurings [Member]
Troubled debt restructured during year [Abstract]
Number of Loans | Loan			0	2
Pre-Modification, Outstanding Recorded Balance			$ 0	$ 1,536
Residential Mortgages [Member]
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	21		21		19
Outstanding Recorded Balance	$ 4,576		$ 4,576		$ 4,314
Troubled debt restructured during year [Abstract]
Number of Loans | Loan			2	3
Pre-Modification, Outstanding Recorded Balance			$ 194	$ 273
Post-modification, Outstanding Recorded Balance			$ 199	$ 273
Home Equity [Member]
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	6		6		5
Outstanding Recorded Balance	$ 1,391		$ 1,391		$ 1,216
Troubled debt restructured during year [Abstract]
Number of Loans | Loan	1	1	1	3
Pre-Modification, Outstanding Recorded Balance	$ 192	$ 98	$ 192	$ 207
Post-modification, Outstanding Recorded Balance	$ 192	$ 98	$ 192	$ 207
Consumer [Member]
Troubled debt restructuring at end of period [Abstract]
Number of Loans | Loan	8		8		7
Outstanding Recorded Balance	$ 308		$ 308		$ 281
Troubled debt restructured during year [Abstract]
Number of Loans | Loan	1	1	1	4
Pre-Modification, Outstanding Recorded Balance	$ 43	$ 46	$ 43	$ 145
Post-modification, Outstanding Recorded Balance	$ 43	$ 46	$ 43	$ 145
Consumer [Member] | Defaulted Troubled Debt Restructurings [Member]
Troubled debt restructured during year [Abstract]
Number of Loans | Loan			1	0
Pre-Modification, Outstanding Recorded Balance			$ 46	$ 0

LOANS, Summary of Non-Performin

LOANS, Summary of Non-Performing Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Summary of non-performing assets [Abstract]
Non-accrual loans	$ 7,501	$ 12,981
Non-accrual loans held for sale	0	0
Loans 90 days past due and still accruing	0	0
OREO	0	0
Total non-performing assets	7,501	12,981
TDRs accruing interest	10,172	9,380
TDRs non-accruing	$ 2,388	$ 10,293

LOANS, Loans and Allowance fo42

LOANS, Loans and Allowance for Loan Losses by Risk Rating (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 7,501		$ 7,501		$ 12,981
Percentage of Total			100.00%		100.00%
Total Loans	$ 1,559,520		$ 1,559,520		$ 1,355,427
Percentage of Total Loans	0.50%		0.50%		1.00%
Additional interest income for the non-accrual loans outstanding at the end of the reported periods	$ 138	$ 185	$ 270	$ 824
Commercial and Industrial [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	3,662		$ 3,662		$ 4,060
Percentage of Total			48.80%		31.30%
Total Loans	$ 181,116		$ 181,116		$ 177,813
Percentage of Total Loans	0.20%		0.20%		0.30%
Commercial Real Estate [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 1,746		$ 1,746		$ 6,556
Percentage of Total			23.30%		50.50%
Total Loans	$ 648,132		$ 648,132		$ 560,524
Percentage of Total Loans	0.10%		0.10%		0.50%
Multifamily [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 0		$ 0		$ 0
Percentage of Total			0.00%		0.00%
Total Loans	$ 392,921		$ 392,921		$ 309,666
Percentage of Total Loans	0.00%		0.00%		0.00%
Mixed Use Commercial [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 0		$ 0		$ 0
Percentage of Total			0.00%		0.00%
Total Loans	$ 64,381		$ 64,381		$ 34,806
Percentage of Total Loans	0.00%		0.00%		0.00%
Real Estate Construction [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 0		$ 0		$ 0
Percentage of Total			0.00%		0.00%
Total Loans	$ 32,896		$ 32,896		$ 26,206
Percentage of Total Loans	0.00%		0.00%		0.00%
Residential Mortgages [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 1,424		$ 1,424		$ 2,020
Percentage of Total			19.00%		15.60%
Total Loans	$ 186,545		$ 186,545		$ 187,828
Percentage of Total Loans	0.10%		0.10%		0.10%
Home Equity [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 548		$ 548		$ 303
Percentage of Total			7.30%		2.30%
Total Loans	$ 46,990		$ 46,990		$ 50,982
Percentage of Total Loans	0.10%		0.10%		0.10%
Consumer [Member]
Summarizes non-accrual loans by loan class [Abstract]
Non-accrual loans	$ 121		$ 121		$ 42
Percentage of Total			1.60%		0.30%
Total Loans	$ 6,539		$ 6,539		$ 7,602
Percentage of Total Loans	0.00%		0.00%		0.00%

LOANS, Loans Current and Past D

LOANS, Loans Current and Past Due by Aging Categories (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Summary of current and past due loans [Abstract]
Total past due	$ 8,502	$ 14,344
Current	1,551,018	1,341,083
Total loans	$ 1,559,520	$ 1,355,427
Percentage of Total Loans, Past Due	0.60%	1.10%
Percentage of Total Loans, Current	99.40%	98.90%
Percentage of Total Loans	100.00%	100.00%
30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	$ 825	$ 933
Percentage of Total Loans, Past Due	0.10%	0.10%
60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	$ 176	$ 430
Percentage of Total Loans, Past Due	0.00%	0.00%
90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	$ 7,501	$ 12,981
Percentage of Total Loans, Past Due	0.50%	1.00%
Commercial and Industrial [Member]
Summary of current and past due loans [Abstract]
Total past due	$ 3,662	$ 4,353
Current	177,454	173,460
Total loans	181,116	177,813
Commercial and Industrial [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	52
Commercial and Industrial [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	241
Commercial and Industrial [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	3,662	4,060
Commercial Real Estate [Member]
Summary of current and past due loans [Abstract]
Total past due	1,746	6,556
Current	646,386	553,968
Total loans	648,132	560,524
Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Commercial Real Estate [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	1,746	6,556
Multifamily [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Current	392,921	309,666
Total loans	392,921	309,666
Multifamily [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Multifamily [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Multifamily [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Mixed Use Commercial [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Current	64,381	34,806
Total loans	64,381	34,806
Mixed Use Commercial [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Mixed Use Commercial [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Mixed Use Commercial [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Real Estate Construction [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Current	32,896	26,206
Total loans	32,896	26,206
Real Estate Construction [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Real Estate Construction [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Real Estate Construction [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	0
Residential Mortgages [Member]
Summary of current and past due loans [Abstract]
Total past due	2,123	2,842
Current	184,422	184,986
Total loans	186,545	187,828
Residential Mortgages [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	523	822
Residential Mortgages [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	176	0
Residential Mortgages [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	1,424	2,020
Home Equity [Member]
Summary of current and past due loans [Abstract]
Total past due	850	415
Current	46,140	50,567
Total loans	46,990	50,982
Home Equity [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	302	0
Home Equity [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	112
Home Equity [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	548	303
Consumer [Member]
Summary of current and past due loans [Abstract]
Total past due	121	178
Current	6,418	7,424
Total loans	6,539	7,602
Consumer [Member] | 30-59 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	59
Consumer [Member] | 60-89 Days Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	0	77
Consumer [Member] | 90 Days and Over Past Due [Member]
Summary of current and past due loans [Abstract]
Total past due	$ 121	$ 42

LOANS, Loans by Internal Assign

LOANS, Loans by Internal Assigned Grade for Credit Risk (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Number of consecutive years	5 years
Minimum repayment period	2 years
Threshold loan amount for annual rating review	$ 750
Credit risk profile by internally assigned grade [Abstract]
Total	$ 1,559,520	$ 1,355,427
Percentage of Total Loans	100.00%	100.00%
Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	$ 1,530,202	$ 1,315,247
Percentage of Total Loans	98.10%	97.00%
Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	$ 14,080	$ 10,407
Percentage of Total Loans	0.90%	0.80%
Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	$ 15,238	$ 29,773
Percentage of Total Loans	1.00%	2.20%
Commercial and Industrial [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	$ 181,116	$ 177,813
Commercial and Industrial [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	170,122	167,922
Commercial and Industrial [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	1,788	1,225
Commercial and Industrial [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	9,206	8,666
Commercial Real Estate [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	648,132	560,524
Commercial Real Estate [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	632,330	536,536
Commercial Real Estate [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	12,292	9,182
Commercial Real Estate [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	3,510	14,806
Multifamily [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	392,921	309,666
Multifamily [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	392,921	309,666
Multifamily [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Multifamily [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Mixed Use Commercial [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	64,381	34,806
Mixed Use Commercial [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	64,369	34,806
Mixed Use Commercial [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Mixed Use Commercial [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	12	0
Real Estate Construction [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	32,896	26,206
Real Estate Construction [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	32,896	26,206
Real Estate Construction [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Real Estate Construction [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Residential Mortgages [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	186,545	187,828
Residential Mortgages [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	184,747	183,263
Residential Mortgages [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Residential Mortgages [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	1,798	4,565
Home Equity [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	46,990	50,982
Home Equity [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	46,442	49,569
Home Equity [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Home Equity [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	548	1,413
Consumer [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	6,539	7,602
Consumer [Member] | Pass [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	6,375	7,279
Consumer [Member] | Special Mention [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	0	0
Consumer [Member] | Substandard [Member]
Credit risk profile by internally assigned grade [Abstract]
Total	$ 164	$ 323

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2012
EMPLOYEE BENEFITS [Abstract]
Additional minimum required contribution for the pension plan						$ 0
Net periodic pension credit	$ (111)	$ (91)	$ (333)	$ (273)
Optional required contribution for pension plan					$ 1,000
Minimum required contribution for the pension plan			$ 0

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, new shares (in shares)	39,334	18,735
Number of Shares [Roll Forward]
Outstanding at beginning (in shares)	251,100
Granted (in shares)	0
Exercised (in shares)	(39,334)	(18,735)
Forfeited or expired (in shares)	(16,666)
Outstanding at ending (in shares)	195,100
Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning (in dollars per share)	$ 16.33
Granted (in dollars per share)	0
Exercised (in dollars per share)	13.71
Forfeited or expired (in dollars per share)	19.67
Outstanding at ending (in dollars per share)	$ 16.58
Weighted Average Grant-Date Fair Value [Roll Forward]
Compensation expense	$ 626	$ 600
Summary of options outstanding and exercisable [Abstract]
Total Shares Outstanding (in shares)	251,100					195,100
Total Weighted-Average Remaining Contractual Life, , Outstanding	6 years 4 months 24 days
Total Weighted-Average Exercise Price, Outstanding (in dollars per share)	$ 16.33					$ 16.58
Total Shares Exercisable (in shares)						129,441
Total Weighted-Average Remaining Contractual Life, Exercisable	6 years 1 month 6 days
Total Weighted-Average Exercise Price, Exercisable (in dollars per share)						$ 17.70
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of SAR's (in dollars per share)						$ 0
Number of Shares [Roll Forward]
Outstanding at ending (in shares)	6,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercise period	3 years
Vesting rate	0.33333
Weighted Average Exercise Price [Roll Forward]
Fair value of restricted stock awards vested	$ 585
Shares withheld to pay taxes (in shares)						4,787
Number of Shares [Roll Forward]
Outstanding at beginning (in shares)	72,350
Granted (in shares)	71,612
Vested (in shares)	(25,948)
Forfeited or expired (in shares)	(9,941)
Outstanding at ending (in shares)	108,073
Weighted Average Grant-Date Fair Value [Roll Forward]
Outstanding at beginning (in dollars per shares)	$ 22.51
Granted (in dollars per share)	23.18
Vested (in dollars per share)	22.55
Forfeited or expired (in dollars per share)	22.61
Outstanding at ending (in dollars per share)	$ 22.94
Remaining unrecognized compensation cost						$ 1,900
Remaining unrecognized compensation cost remaining vesting period	2 years 1 month 6 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercise period			3 years	3 years	3 years
Vesting rate			0.33333	0.33333	0.33333
Total intrinsic value of options exercised	$ 438	145
Total cash received from option exercises	$ 539	$ 246
Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercise period	10 years
2009 Stock Incentive Plan [Member]
Weighted Average Grant-Date Fair Value [Roll Forward]
Remaining unrecognized compensation cost						$ 94
Remaining unrecognized compensation cost remaining vesting period	1 year
Company's common stock reserved for issuance (in shares)						500,000
Common stock available for possible issuance (in shares)						162,930
1999 Stock Incentive Plan [Member]
Weighted Average Grant-Date Fair Value [Roll Forward]
Company's common stock reserved for issuance (in shares)						0
$10.00 - $14.00 [Member]
Summary of options outstanding and exercisable [Abstract]
Exercise price range, Lower limit (in dollars per share)	$ 10
Exercise price range, Upper limit (in dollars per share)	$ 14
Shares Outstanding (in shares)						90,000
Weighted-Average Remaining Contractual Life, Outstanding	6 years 3 months 18 days
Weighted-Average Exercise Price, Outstanding (in dollars per share)						$ 11.68
Shares Exercisable (in shares)						56,667
Weighted-Average Remaining Contractual Life, Exercisable	6 years 4 months 24 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)						$ 12.20
$14.01 - $20.00 [Member]
Summary of options outstanding and exercisable [Abstract]
Exercise price range, Lower limit (in dollars per share)	$ 14.01
Exercise price range, Upper limit (in dollars per share)	$ 20
Shares Outstanding (in shares)						83,100
Weighted-Average Remaining Contractual Life, Outstanding	7 years 9 months 18 days
Weighted-Average Exercise Price, Outstanding (in dollars per share)						$ 17.80
Shares Exercisable (in shares)						50,774
Weighted-Average Remaining Contractual Life, Exercisable	7 years 9 months 18 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)						$ 17.64
$20.01 - $30.00 [Member]
Summary of options outstanding and exercisable [Abstract]
Exercise price range, Lower limit (in dollars per share)	$ 20.01
Exercise price range, Upper limit (in dollars per share)	$ 30
Shares Outstanding (in shares)						5,000
Weighted-Average Remaining Contractual Life, Outstanding	3 years 3 months 18 days
Weighted-Average Exercise Price, Outstanding (in dollars per share)						$ 28.30
Shares Exercisable (in shares)						5,000
Weighted-Average Remaining Contractual Life, Exercisable	3 years 3 months 18 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)						$ 28.30
$30.01 - $40.00 [Member]
Summary of options outstanding and exercisable [Abstract]
Exercise price range, Lower limit (in dollars per share)	$ 30.01
Exercise price range, Upper limit (in dollars per share)	$ 40
Shares Outstanding (in shares)						17,000
Weighted-Average Remaining Contractual Life, Outstanding	1 year 3 months 18 days
Weighted-Average Exercise Price, Outstanding (in dollars per share)						$ 33.12
Shares Exercisable (in shares)						17,000
Weighted-Average Remaining Contractual Life, Exercisable	1 year 3 months 18 days
Weighted-Average Exercise Price, Exercisable (in dollars per share)						$ 33.12

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Valuation reserve	$ (668)		$ (668)
Operating loss carryforwards, expiration dates			Dec. 31, 2032
Income tax expense	1,864	$ 875	$ 4,684	$ 3,033
Effective tax rate			25.00%	21.30%
Federal income tax statutory rates			35.00%	34.00%
Unrecognized tax benefits	0		$ 0		$ 34
Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	0		0
New York State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 15,000		$ 15,000

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Total capital to risk-weighted assets [Abstract]
Actual capital ratios, Amount	$ 216,671	$ 201,476
Minimum for capital adequacy, Amount	133,233	121,608
Minimum to be Well Capitalized under prompt corrective action provisions, Amount	$ 166,541	$ 152,010
Total capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	13.01%	13.25%
Minimum for capital adequacy, Ratio	8.00%	8.00%
Minimum to be Well Capitalized under prompt corrective action provisions, Ratio	10.00%	10.00%
Tier 1 capital to risk-weighted assets [Abstract]
Actual capital ratios, Amount	$ 196,066	$ 182,469
Minimum for capital adequacy, Amount	99,925	60,804
Minimum to be Well Capitalized under prompt corrective action provisions, Amount	$ 133,233	$ 91,206
Tier 1 Capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	11.77%	12.00%
Minimum for capital adequacy, Ratio	6.00%	4.00%
Minimum to be Well Capitalized under prompt corrective action provisions, Ratio	8.00%	6.00%
Common equity tier 1 capital to risk-weighted assets [Abstract]
Actual capital ratios, Amount	$ 196,066
Minimum for capital adequacy, Amount	74,944
Minimum to be Well Capitalized under prompt corrective action provisions, Amount	$ 108,252
Common equity tier 1 capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	11.77%
Minimum for capital adequacy, Ratio	4.50%
Minimum to be Well Capitalized under prompt corrective action provisions, Ratio	6.50%
Tier 1 capital to adjusted average assets (leverage) [Abstract]
Actual capital ratios, Amount	$ 196,066	$ 182,469
Minimum for capital adequacy, Amount	80,223	73,312
Minimum to be Well Capitalized under prompt corrective action provisions, Amount	$ 100,279	$ 91,640
Tier 1 capital to adjusted average assets (leverage), Ratio [Abstract]
Actual capital ratios, Ratio	9.78%	9.96%
Minimum for capital adequacy, Ratio	4.00%	4.00%
Minimum to be Well Capitalized under prompt corrective action provisions, Ratio	5.00%	5.00%
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 leverage capital ratio	9.78%	9.96%
Tier 1 risk-based capital ratio	11.77%	12.00%
Common equity tier 1 risk-based capital ratio	11.77%
Total risk-based capital ratio	13.01%	13.25%
Parent Company [Member]
Total capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	13.21%	13.35%
Tier 1 Capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	11.98%	12.10%
Common equity tier 1 capital to risk-weighted assets, Ratio [Abstract]
Actual capital ratios, Ratio	11.98%
Tier 1 capital to adjusted average assets (leverage), Ratio [Abstract]
Actual capital ratios, Ratio	9.95%	10.04%
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 leverage capital ratio	9.95%	10.04%
Tier 1 risk-based capital ratio	11.98%	12.10%
Common equity tier 1 risk-based capital ratio	11.98%
Total risk-based capital ratio	13.21%	13.35%

FAIR VALUE, Balance Sheets Grou

FAIR VALUE, Balance Sheets Grouping (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Financial Assets [Abstract]
Interest-bearing time deposits in other banks		$ 0	$ 10,000
Investment securities held to maturity		69,402	64,796
Investment securities available for sale		261,232	298,670
Financial Liabilities [Abstract]
Borrowings		$ 50,000	130,000
Percentage of derivative in net sale proceeds		10.00%
Carrying Amount [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and due from banks		$ 97,800	54,516
Carrying Amount [Member] | Level 2 [Member]
Financial Assets [Abstract]
Federal funds sold		0	1,000
Interest-bearing time deposits in other banks		0	10,000
Investment securities held to maturity		66,427	62,270
Investment securities available for sale		261,232	298,670
Loans held for sale		745	26,495
Accrued interest and loan fees receivable		6,349	5,676
Financial Liabilities [Abstract]
Non-maturity deposits		1,560,292	1,337,301
Time deposits		235,539	218,759
Borrowings		50,000	130,000
Accrued interest payable		187	136
Carrying Amount [Member] | Level 3 [Member]
Financial Liabilities [Abstract]
Derivatives		752	752
Carrying Amount [Member] | Level 2/3 [Member]
Financial Assets [Abstract]
Loans, net of allowance	[1]	1,539,205	1,336,227
Fair Value [Member] | Level 1 [Member]
Financial Assets [Abstract]
Cash and due from banks		97,800	54,516
Fair Value [Member] | Level 2 [Member]
Financial Assets [Abstract]
Federal funds sold		0	1,000
Interest-bearing time deposits in other banks		0	10,017
Investment securities held to maturity		69,402	64,796
Investment securities available for sale		261,232	298,670
Loans held for sale		745	26,495
Accrued interest and loan fees receivable		6,349	5,676
Financial Liabilities [Abstract]
Non-maturity deposits		1,560,292	1,337,301
Time deposits		235,883	219,089
Borrowings		50,052	130,004
Accrued interest payable		187	136
Fair Value [Member] | Level 3 [Member]
Financial Liabilities [Abstract]
Derivatives		752	752
Fair Value [Member] | Level 2/3 [Member]
Financial Assets [Abstract]
Loans, net of allowance	[1]	$ 1,537,750	$ 1,329,041
[1]	Impaired loans are generally classified within Level 3 of the fair value hierarchy.

FAIR VALUE, Non-recurring Basis

FAIR VALUE, Non-recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	$ 3,304	$ 3,293
Total	3,304	3,293
Significant Unobservable Inputs (Level 3) [Member]
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	3,304	3,293
Total	$ 3,304	$ 3,293

FAIR VALUE, Non-recurring Bas51

FAIR VALUE, Non-recurring Basis, Quantitative Information (Details) - Level 3 [Member] - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Total		$ 3,304	$ 3,293
Third Party Appraisal [Member] | Residential Mortgages [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Total		$ 2,918	$ 3,097
Discount to appraised value	[1]	25.00%	25.00%
Third Party Appraisal [Member] | Residential Mortgages [Member] | Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		9.00%	9.00%
Third Party Appraisal [Member] | Residential Mortgages [Member] | Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		15.00%	15.00%
Third Party Appraisal [Member] | Home Equity [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Total		$ 272	$ 98
Discount to appraised value	[1]	25.00%	25.00%
Third Party Appraisal [Member] | Home Equity [Member] | Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		9.00%	9.00%
Third Party Appraisal [Member] | Home Equity [Member] | Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		15.00%	15.00%
Third Party Appraisal [Member] | Consumer [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Total		$ 114	$ 98
Discount to appraised value	[2]	25.00%	25.00%
Third Party Appraisal [Member] | Consumer [Member] | Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		10.00%	10.00%
Third Party Appraisal [Member] | Consumer [Member] | Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Estimated selling costs		12.00%	12.00%
[1]	Of which estimated selling costs are approximately 9% - 15% of the total discount.
[2]	Of which estimated selling costs are approximately 10% - 12% of the total discount.

FAIR VALUE, Recurring Basis (De

FAIR VALUE, Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets [Abstract]
Total	$ 261,232	$ 298,670
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
U.S. Government agency securities	38,794	41,577
Obligations of states and political subdivisions	110,372	137,769
Collateralized mortgage obligations	16,466	21,997
Mortgage-backed securities	89,630	90,919
Corporate bonds	5,970	6,408
Total	261,232	298,670
Liabilities [Abstract]
Derivatives	752	752
Total	752	752
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
U.S. Government agency securities	38,794	41,577
Obligations of states and political subdivisions	110,372	137,769
Collateralized mortgage obligations	16,466	21,997
Mortgage-backed securities	89,630	90,919
Corporate bonds	5,970	6,408
Total	261,232	298,670
Liabilities [Abstract]
Derivatives	0	0
Total	0	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
U.S. Government agency securities	0	0
Obligations of states and political subdivisions	0	0
Collateralized mortgage obligations	0	0
Mortgage-backed securities	0	0
Corporate bonds	0	0
Total	0	0
Liabilities [Abstract]
Derivatives	752	752
Total	$ 752	$ 752

FAIR VALUE, Reconciliations for

FAIR VALUE, Reconciliations for Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - Liabilities Derivatives [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) [Rollforward]
Beginning balance	$ 752	$ 932	$ 752	$ 932
Net change	0	0	0	0
Ending balance	$ 752	$ 932	$ 752	$ 932

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Assets pledged as collateral to the Federal Home Loan Bank	$ 673,000	$ 505,000
Federal Home Loan Bank borrowings	50,000	130,000
Federal Home Loan Bank Borrowings Short-Term [Member]
Debt Instrument [Line Items]
Daily average outstanding	69,066	13,051
Total interest cost	$ 186	$ 48
Average interest rate paid	0.36%	0.37%
Maximum amount outstanding at any month-end	$ 155,000	$ 130,000
Ending balance	$ 35,000	$ 130,000
Weighted-average interest rate on balances outstanding	0.40%	0.32%
Federal Home Loan Bank Borrowings Long-Term [Member]
Debt Instrument [Line Items]
Daily average outstanding	$ 9,396	$ 0
Total interest cost	$ 124	$ 0
Average interest rate paid	1.76%	0.00%
Maximum amount outstanding at any month-end	$ 15,000	$ 0
Ending balance	$ 15,000	$ 0
Weighted-average interest rate on balances outstanding	1.76%	0.00%
Federal Funds Purchased [Member]
Debt Instrument [Line Items]
Daily average outstanding	$ 2	$ 8
Total interest cost	$ 0	$ 0
Average interest rate paid	0.45%	0.46%
Maximum amount outstanding at any month-end	$ 0	$ 0
Ending balance	$ 0	$ 0
Weighted-average interest rate on balances outstanding	0.00%	0.00%