Dime Community Bancshares (DCOM) 10-K 14 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 11, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	BRIDGE BANCORP INC
Entity Central Index Key	846,617
Trading Symbol	bdge
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		17,448,227
Entity Public Float			$ 438,956,096
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 79,750	$ 45,109
Interest earning deposits with banks	24,808	6,621
Total cash and cash equivalents	104,558	51,730
Securities available for sale, at fair value	800,203	587,184
Securities held to maturity (fair value of $210,003 and $216,289, respectively)	208,351	214,927
Total securities	1,008,554	802,111
Securities, restricted	24,788	10,037
Loans held for investment	2,410,774	1,338,327
Allowance for loan losses	(20,744)	(17,637)
Loans, net	2,390,030	1,320,690
Premises and equipment, net	39,595	32,424
Accrued interest receivable	9,270	6,425
Goodwill	98,445	9,450
Other intangible assets	8,376	842
Prepaid pension	6,047	4,927
Bank owned life insurance	53,314	30,644
Other real estate owned	250
Other assets	38,732	19,244
Total Assets	3,781,959	2,288,524
LIABILITIES AND STOCKHOLDERS' EQUITY
Demand deposits	1,156,882	703,130
Savings, NOW and money market deposits	1,393,888	989,287
Certificates of deposit of $100 or more	167,750	83,071
Other time deposits	125,105	58,291
Total deposits	2,843,625	1,833,779
Federal funds purchased	120,000	75,000
Federal Home Loan Bank advances	297,507	138,327
Repurchase agreements	50,891	36,263
Subordinated debentures, net	78,363
Junior subordinated debentures, net	15,878	15,873
Other liabilities and accrued expenses	34,567	14,164
Total Liabilities	$ 3,440,831	$ 2,113,406
Commitments and Contingencies
Stockholders' equity:
Preferred stock, par value $.01 per share (2,000,000 shares authorized; none issued)
Common stock, par value $.01 per share: Authorized: 40,000,000 shares; 17,388,918 and 11,651,398 shares issued, respectively; 17,388,918 and 11,650,405 shares outstanding, respectively	$ 174	$ 117
Surplus	278,333	118,846
Retained earnings	72,243	64,547
Less: Treasury Stock at cost, 0 and 993 shares, respectively		(25)
Total stockholders' equity before accumulated other comprehensive income (loss)	350,750	183,485
Accumulated other comprehensive loss, net of income tax	(9,622)	(8,367)
Total Stockholders' Equity	341,128	175,118
Total Liabilities and Stockholders' Equity	$ 3,781,959	$ 2,288,524

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Securities held to maturity, fair value (in dollars)	$ 210,003	$ 216,289
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,388,918	11,651,398
Common stock, shares outstanding	17,388,918	11,650,405
Treasury Stock, shares	0	993

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Loans (including fee income)	$ 88,760	$ 57,628	$ 45,250
Mortgage-backed securities, CMOs and other assets-backed securities	11,173	10,644	6,956
State and municipal obligations	3,198	2,735	2,638
U.S. GSE securities	1,630	2,716	2,982
Corporate bonds	840	749	399
Deposits with banks	47	32	28
Other interest and dividend income	592	406	177
Total interest income	106,240	74,910	58,430
Interest expense:
Savings, NOW and money market deposits	4,002	3,223	3,543
Certificates of deposit of $100 or more	929	767	1,079
Other time deposits	673	426	340
Federal funds purchased and repurchase agreements	474	588	505
Federal Home Loan Bank advances	1,425	1,091	440
Subordinated debentures	1,261
Junior subordinated debentures	1,365	1,365	1,365
Total interest expense	10,129	7,460	7,272
Net interest income	96,111	67,450	51,158
Provision for loan losses	4,000	2,200	2,350
Net interest income after provision for loan losses	92,111	65,250	48,808
Non-interest income:
Service charges on deposit accounts	3,737	3,206	3,174
Fees for other customer services	3,317	2,835	2,613
Title fee income	1,866	1,662	1,687
Net securities (losses) gains	(8)	(1,090)	659
Other operating income	3,756	1,553	758
Total non-interest income	12,668	8,166	8,891
Non-interest expense:
Salaries and employee benefits	33,871	26,011	21,532
Occupancy and equipment	11,045	7,712	5,374
Technology and communications	3,599	3,175	2,594
Marketing and advertising	3,125	2,430	1,864
Professional services	2,327	1,537	1,340
FDIC assessments	1,593	1,265	924
Acquisition costs and branch restructuring	9,766	5,504	499
Amortization of other intangible assets	1,447	300	59
Other operating expenses	6,117	4,480	3,751
Total non-interest expense	72,890	52,414	37,937
Income before income taxes	31,889	21,002	19,762
Income tax expense	10,778	7,239	6,669
Net income	$ 21,111	$ 13,763	$ 13,093
Basic earnings per share (in dollars per share)	$ 1.43	$ 1.18	$ 1.36
Diluted earnings per share (in dollars per share)	$ 1.43	$ 1.18	$ 1.36

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income
Net Income	$ 21,111	$ 13,763	$ 13,093
Other comprehensive (loss) income:
Change in unrealized net gains (losses) on securities available for sale, net of reclassification and deferred income taxes	(1,434)	8,687	(14,732)
Adjustment to pension liability, net of reclassifications and deferred income taxes	380	(3,348)	1,907
Unrealized (loss) gain on cash flow hedge, net of reclassifications and deferred income taxes	(201)	(470)	7
Total other comprehensive (loss) income	(1,255)	4,869	(12,818)
Comprehensive income	$ 19,856	$ 18,632	$ 275

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Surplus	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2012	$ 89	$ 64,208	$ 55,102	$ (309)	$ (418)	$ 118,672
Increase (Decrease) in Stockholders' Equity
Net income			13,093			13,093
Shares issued under the dividend reinvestment plan ("DRP")	4	8,656				8,660
Shares issued in common stock offerings, net of offering costs (1,926,250 shares)	19	37,558				37,577
Stock awards granted and distributed	1	(435)		434
Stock awards forfeited		79		(79)
Vesting of stock awards				(291)		(291)
Exercise of stock options		(6)		10		4
Tax effect of stock plans		21				21
Shared based compensation expense		1,296				1,296
Cash dividend declared, $0.69 per share for December 31, 2013 and $0.92 per share for December 31, 2014 and December 31, 2015			(6,754)			(6,754)
Other comprehensive income (loss), net of deferred income taxes					(12,818)	(12,818)
Balance at Dec. 31, 2013	113	111,377	61,441	(235)	(13,236)	159,460
Increase (Decrease) in Stockholders' Equity
Net income			13,763			13,763
Shares issued under the dividend reinvestment plan ("DRP")	1	630				631
Shares issued in the acquisition of Community National Bank ("CNB") and FNBNY Bancorp, net of offering costs 5,647,268 and 240,598 shares, respectively.	2	5,946				5,948
Stock awards granted and distributed	1	(432)		431
Stock awards forfeited		58		(58)
Vesting of stock awards				(173)		(173)
Exercise of stock options		(3)		10		7
Tax effect of stock plans		36				36
Shared based compensation expense		1,234				1,234
Cash dividend declared, $0.69 per share for December 31, 2013 and $0.92 per share for December 31, 2014 and December 31, 2015			(10,657)			(10,657)
Other comprehensive income (loss), net of deferred income taxes					4,869	4,869
Balance at Dec. 31, 2014	117	118,846	64,547	(25)	(8,367)	175,118
Increase (Decrease) in Stockholders' Equity
Net income			21,111			21,111
Shares issued under the dividend reinvestment plan ("DRP")		779				779
Shares issued in the acquisition of Community National Bank ("CNB") and FNBNY Bancorp, net of offering costs 5,647,268 and 240,598 shares, respectively.	56	157,143				157,199
Stock awards granted and distributed	1	(263)		262
Stock awards forfeited		125		(125)
Vesting of stock awards				(228)		(228)
Exercise of stock options		(36)		$ 116		80
Tax effect of stock plans		50				50
Shared based compensation expense		1,689				1,689
Cash dividend declared, $0.69 per share for December 31, 2013 and $0.92 per share for December 31, 2014 and December 31, 2015			(13,415)			(13,415)
Other comprehensive income (loss), net of deferred income taxes					(1,255)	(1,255)
Balance at Dec. 31, 2015	$ 174	$ 278,333	$ 72,243		$ (9,622)	$ 341,128

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Stockholders' Equity
Shares issued in common stock offerings, net of offering costs			1,926,250
Shares issued in the acquisition of CNB and FNBNY Bancorp (in shares)	5,647,268	240,598
Cash dividend declared (in dollars per share)	$ 0.92	$ 0.92	$ 0.69

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 21,111	$ 13,763	$ 13,093
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	4,000	2,200	2,350
Depreciation and (accretion) amortization	(3,789)	481	1,852
Net amortization on securities	4,936	3,763	5,168
Increase in cash surrender value of bank owned life insurance	(1,225)	(609)	(35)
Amortization of intangible assets	1,447	300	59
Share based compensation expense	1,689	1,234	1,296
Net securities losses (gains)	8	1,090	(659)
Increase in accrued interest receivable	(267)	(777)	(212)
Small Business Administration ("SBA") loans originated for sale	(5,043)
Proceeds from sale of the guaranteed portion of SBA loans	5,659
Gain on sale of the guaranteed portion of SBA loans	(507)
Gain on sale of loans	(477)
(Increase) decrease in other assets	(6,815)	5,783	(1,366)
Increase (decrease) in accrued expenses and other liabilities	10,799	(1,417)	3,483
Net cash provided by operating activities	31,526	25,811	25,029
Cash flows from investing activities:
Purchases of securities available for sale	(330,646)	(342,185)	(333,359)
Purchases of securities, restricted	(318,887)	(408,439)	(164,503)
Purchases of securities held to maturity	(21,650)	(52,464)	(68,251)
Proceeds from sales of securities available for sale	75,750	360,963	129,431
Redemption of securities, restricted	308,808	408,036	160,447
Maturities, calls and principal payments of securities available for sale	113,217	80,242	130,411
Maturities, calls and principal payments of securities held to maturity	34,897	37,983	76,128
Net increase in loans	(354,375)	(235,320)	(217,668)
Proceeds from loan sale	21,011
Proceeds from sales of other real estate owned ("OREO"), net		2,942	218
Purchase of bank owned life insurance		(20,000)	(10,000)
Purchase of premises and equipment	(4,325)	(5,232)	(4,029)
Net cash acquired in business combination	24,628	2,926
Net cash used in investing activities	(451,572)	(170,548)	(301,175)
Cash flows from financing activities:
Net increase in deposits	223,872	125,300	129,773
Net increase in federal funds purchased	45,000	11,000	19,500
Net increase in FHLB advances	124,087	1,499	83,000
Repayment of acquired unsecured debt		(1,450)
Net increase (decrease) in repurchase agreements	14,628	24,893	(1,020)
Net proceeds from issuance of subordinated debentures	78,324
Net proceeds from issuance of common stock	779	631	46,237
Net proceeds from exercise of stock options	80	7	4
Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards	(228)	(173)	(291)
Excess tax benefit from share based compensation	50	36	21
Cash dividends paid	(13,415)	(10,657)	(6,754)
Other, net	(303)	(192)
Net cash provided by financing activities	472,874	150,894	270,470
Net increase (decrease) in cash and cash equivalents	52,828	6,157	(5,676)
Cash and cash equivalents at beginning of period	51,730	45,573	51,249
Cash and cash equivalents at end of period	104,558	51,730	45,573
Cash paid for:
Interest	8,793	7,377	7,194
Income tax	8,744	4,068	5,108
Noncash investing and financing activities:
Transfers from portfolio loans to OREO	250	577	$ 2,242
Acquisition of noncash assets and liabilities:
Fair value of assets acquired	875,302	209,022
Fair value of liabilities assumed	$ 831,422	$ 213,224

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Bridge Bancorp, Inc. (the “Company”) is incorporated under the laws of the State of New York and is a registered bank holding company. The Company’s business currently consists of the operations of its wholly-owned subsidiary, The Bridgehampton National Bank (the “Bank”). The Bank’s operations include its real estate investment trust subsidiary, Bridgehampton Community, Inc. (“BCI”), a financial title insurance subsidiary, Bridge Abstract LLC (“Bridge Abstract”), and Bridge Financial Services LLC (“Bridge Financial Services’), an investment services subsidiary. In addition to the Bank, the Company has another subsidiary, Bridge Statutory Capital Trust II, which was formed in 2009. In accordance with current accounting guidance, the trust is not consolidated in the Company’s financial statements. See Note 9 for a further discussion of Bridge Statutory Capital Trust II. The financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and general practices within the financial institution industry. The following is a description of the significant accounting policies that the Company follows in preparing its Consolidated Financial Statements. a) Basis of Financial Statement Presentation The accompanying Consolidated Financial Statements are prepared on the accrual basis of accounting and include the accounts of the Company and its wholly-owned subsidiary, the Bank. All material intercompany transactions and balances have been eliminated. The preparation of financial statements, in conformity with U.S. generally accepted accounting principles, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of each consolidated balance sheet and the related consolidated statement of income for the years then ended. Such estimates are subject to change in the future as additional information becomes available or previously existing circumstances are modified. Actual future results could differ significantly from those estimates. b) Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest earning deposits with banks, and federal funds sold, which mature overnight. Cash flows are reported net for customer loan and deposit transactions, overnight borrowings and federal funds purchased, Federal Home Loan Bank advances, and repurchase agreements. c) Securities Debt and equity securities are classified in one of the following categories: (i) “held to maturity” (management has a positive intent and ability to hold to maturity), which are reported at amortized cost, (ii) “available for sale” (all other debt and marketable equity securities), which are reported at fair value, with unrealized gains and losses reported net of tax, as accumulated other comprehensive income, a separate component of stockholders’ equity, and (iii) “restricted” which represents FHLB, FRB and bankers’ banks stock which are reported at cost. Premiums and discounts on securities are amortized and accreted to interest income over the estimated life of the respective securities using the interest method. Gains and losses on the sales of securities are recognized upon realization based on the specific identification method. Declines in the fair value of securities below their cost that are other than temporary are reflected as realized losses. In estimating other-than-temporary impairment (“OTTI”), management considers many factors including: (1) the length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the security or more than likely than not will be required to sell the security before its anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. The assessment of whether any other than temporary decline exists may involve a high degree of subjectivity and judgment and is based on the information available to management at a point in time. d) Federal Home Loan Bank (FHLB) Stock The Bank is a member of the FHLB system. Members are required to own a particular amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost and classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. e) Loans, Loan Interest Income Recognition and Loans Held for Sale Loans are stated at the principal amount outstanding, net of partial charge-offs, deferred origination costs and fees and purchase premiums and discounts. Loan origination and commitment fees and certain direct and indirect costs incurred in connection with loan originations are deferred and amortized to income over the life of the related loans as an adjustment to yield. When a loan prepays, the remaining unamortized net deferred origination fees or costs are recognized in the current year. Interest on loans is credited to income based on the principal outstanding during the period. Past due status is based on the contractual terms of the loan. Loans that are 90 days past due are automatically placed on nonaccrual and previously accrued interest is reversed and charged against interest income. However, if the loan is in the process of collection and the Bank has reasonable assurance that the loan will be fully collectible based upon individual loan evaluation assessing such factors as collateral and collectibility, accrued interest will be recognized as earned. If a payment is received when a loan is nonaccrual or a troubled debt restructuring loan is nonaccrual, the payment is applied to the principal balance. A performing troubled debt restructuring loan is on accrual status in line with the modified terms. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans for which the terms have been modified as a concession to the borrower due to the borrower experiencing financial difficulties are considered troubled debt restructurings and are classified as impaired. Loans considered to be troubled debt restructurings can be categorized as nonaccrual or performing. The impairment of a loan is measured at the value of expected future cash flows using the loan’s effective interest rate, or at the loan’s observable market price or the fair value of the collateral less costs to sell if the loan is collateral dependent. Generally, the Bank measures impairment of such loans by reference to the fair value of the collateral less costs to sell. Loans that experience minor payment delays and payment shortfall generally are not classified as impaired. Loans over $50,000 are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less costs to sell if repayment is expected solely from the collateral. Loans with balances less than $50,000 are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. Loans that were acquired through the acquisition of Community National Bank on June 19, 2015 and First National Bank of New York on February 14, 2014, were initially recorded at fair value with no carryover of the related allowance for loan losses. After acquisition, losses are recognized through the allowance for loan losses. Determining fair value of the loans involves estimating the amount and timing of expected principal and interest cash flows to be collected on the loans and discounting those cash flows at a market interest rate. Some of the loans at time of acquisition showed evidence of credit deterioration since origination. These loans are considered purchased credit impaired loans. For purchased credit impaired loans, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. The nonaccretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent increases to the expected cash flows result in the reversal of a corresponding amount of the nonaccretable discount which is then reclassified as accretable discount and recognized into interest income over the remaining life of the loan using the interest method. Subsequent decreases to the expected cash flows require us to evaluate the need for an addition to the allowance for loan losses. Purchased credit impaired loans that met the criteria for nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if management can reasonably estimate the timing and amount of the expected cash flows on such loans and if management expects to fully collect the new carrying value of the loans. As such, management may no longer consider the loans to be nonaccrual or nonperforming and may accrue interest on these loans, including the impact of any accretable discount. Loans held for sale are carried at the lower of aggregate cost, or estimated fair value. Any subsequent declines in fair value below the initial carrying value are recorded as a valuation allowance, which is established through a charge to earnings. Unless otherwise noted, the above policy is applied consistently to all loan classes. f) Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. The Bank monitors its entire loan portfolio on a regular basis, with consideration given to loan growth, detailed analyses of classified loans, repayment patterns, delinquency status, past loss experience, current economic conditions, and various types of concentrations of credit. Additionally, the Bank considers its credit administration and asset management philosophies and procedures and concentrations in the portfolio when determining the allowances for each pool. The Bank evaluates and considers the credit’s risk rating which includes management’s evaluation of: cash flow, collateral, guarantor support, financial disclosures, industry trends and strength of borrowers’ management, the impact that economic and market conditions may have on the portfolio as well as known and inherent risks in the portfolio. Finally, the Bank evaluates and considers the allowance ratios and coverage percentages of both peer group and regulatory agency data. These evaluations are inherently subjective because, even though they are based on objective data, it is management’s interpretation of that data that determines the amount of the appropriate allowance. If the evaluations prove to be incorrect, the allowance for loan losses may not be sufficient to cover probable incurred losses in the loan portfolio, resulting in additions to the allowance for loan losses. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Additions to the allowance are charged to expense and realized losses, net of recoveries, are charged to the allowance. Based on the determination of management and the Credit Risk Committee, the overall level of allowance is periodically adjusted to account for the inherent and specific risks within the entire portfolio. Based on the Credit Risk Committee’s review of the classified loans and the overall allowance levels as they relate to the entire loan portfolio at December 31, 2015, management believes the allowance for loan losses is adequate. A loan is considered a potential charge-off when it is in default of either principal or interest for a period of 90, 120 or 180 days, depending upon the loan type, as of the end of the prior month. In addition to delinquency criteria, other triggering events may include, but are not limited to, notice of bankruptcy by the borrower or guarantor, death of the borrower, and deficiency balance from the sale of collateral. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in conditions. In addition, various regulatory agencies, as an integral part of the examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to, or charge-offs against, the allowance based on their judgment about information available to them at the time of their examination. Refer to Note 3 for further details. Unless otherwise noted, the above policy is applied consistently to all loan segments. g) Premises and Equipment Buildings, furniture and fixtures and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method using a useful life of fifty years for buildings and a range of two to ten years for equipment, computer hardware and software, and furniture and fixtures. Leasehold improvements are amortized over the lives of the respective leases or the service lives of the improvements, whichever is shorter. Land is recorded at cost. Improvements and major repairs are capitalized, while the cost of ordinary maintenance, repairs and minor improvements are charged to expense. h) Bank-Owned Life Insurance The Bank is the owner and beneficiary of life insurance policies on certain employees. Bank-owned life insurance (“BOLI”) is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. i) Other Real Estate Owned Real estate properties acquired through, or in lieu of, foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are charged to expense as incurred. j) Goodwill and Other Intangible Assets Goodwill resulting from business combinations is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. The Company has selected November 30 th Other intangible assets include core deposit intangible assets and a non-compete intangible arising from whole bank acquisitions. They are amortized on an accelerated method over their estimated useful lives of ten years and two years, respectively. Other intangible assets also include servicing rights which result from the sale of Small Business Administration (“SBA”) loans with servicing rights retained. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets totaled $893,000 at December 31, 2015. There were no servicing assets at December 31, 2014. k) Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as unused lines of credit, commitments to make loans and commercial letters of credit, issued to meet customer-financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded on the balance sheet when they are funded. l) Derivatives The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. A cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. m) Income Taxes The Company follows the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities, computed using enacted tax rates. Deferred tax assets are recognized if it is more likely than not that a future benefit will be realized. It is management’s position, as currently supported by the facts and circumstances, that no valuation allowance is necessary against any of the Company’s deferred tax assets. In accordance with FASB ASC 740, Accounting for Uncertainty in Income axes The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The Company did not have any amounts accrued for interest and penalties at December 31, 2015 and December 31, 2014, respectively. n) Treasury Stock Repurchases of common stock are recorded as treasury stock at cost. Treasury stock is reissued using the first in, first out method. o) Earnings Per Share Earnings per share is calculated in accordance with FASB ASC 260-10, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities” p) Dividends Cash available for distribution of dividends to stockholders of the Company is primarily derived from cash and cash equivalents of the Company and dividends paid by the Bank to the Company. Prior regulatory approval is required if the total of all dividends declared by the Bank in any calendar year exceeds the total of the Bank’s net income of that year combined with its retained net income of the preceding two years. Dividends from the Bank to the Company at January 1, 2016 are limited to $27.6 million which represents the Bank’s net retained earnings from the previous two years. During 2015, the Bank paid dividends of $10.0 million to the Company. q) Segment Reporting While management monitors the revenue streams of the various products and services, the identifiable segments are not material and operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. r) Stock Based Compensation Plans Stock based compensation awards are recorded in accordance with FASB ASC No. 718 and 505, “ Accounting for Stock-Based Compensation” s) Comprehensive Income Comprehensive income includes net income and all other changes in equity during a period, except those resulting from investments by owners and distributions to owners. Other comprehensive income includes revenues, expenses, gains and losses that under generally accepted accounting principles are included in comprehensive income but excluded from net income. Other comprehensive income and accumulated other comprehensive income are reported net of deferred income taxes. Accumulated other comprehensive income for the Company includes unrealized holding gains or losses on available for sale securities, unrealized gains or losses on cash flow hedges and changes in the funded status of the pension liability. FASB ASC 715-30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” t) Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. u) New Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases – (Topic 842). ASU 2016-02 was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 will require lessees to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this Update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this Update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this update become effective for annual periods and interim periods within those periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. v) Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current period presentation.

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2015
SECURITIES
SECURITIES	2. SECURITIES A summary of the amortized cost, gross unrealized gains and losses and fair value of securities is as follows: December 31, 2015 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S. GSE securities $ 63,238 $ — $ (564 ) $ 62,674 $ 97,560 $ 4 $ (2,139 ) $ 95,425 State and municipal obligations 87,830 427 (322 ) 87,935 63,583 318 (208 ) 63,693 U.S. GSE residential mortgage-backed securities 201,297 237 (1,270 ) 200,264 100,931 534 (40 ) 101,425 U.S. GSE residential collateralized mortgage obligations 321,253 513 (3,888 ) 317,878 261,256 310 (2,967 ) 258,599 U.S. GSE commercial mortgage-backed securities 12,491 7 (80 ) 12,418 3,016 — (71 ) 2,945 U.S. GSE commercial collateralized mortgage obligations 64,809 9 (620 ) 64,198 24,179 44 (141 ) 24,082 Other asset backed securities 24,250 — (1,879 ) 22,371 24,190 — (1,153 ) 23,037 Corporate Bonds 33,000 — (535 ) 32,465 17,952 161 (135 ) 17,978 Total available for sale 808,168 1,193 (9,158 ) 800,203 592,667 1,371 (6,854 ) 587,184 Held to maturity: U.S. GSE securities 7,466 1 — 7,467 11,283 135 (41 ) 11,377 State and municipal obligations 64,878 1,715 (113 ) 66,480 64,864 1,658 (98 ) 66,424 U.S. GSE residential mortgage-backed securities 7,609 — (106 ) 7,503 6,667 — (97 ) 6,570 U.S. GSE residential collateralized mortgage obligations 60,933 617 (498 ) 61,052 59,539 507 (862 ) 59,184 U.S. GSE commercial mortgage-backed securities 23,056 210 (313 ) 22,953 13,213 233 (26 ) 13,420 U.S. GSE commercial collateralized mortgage obligations 33,409 282 (185 ) 33,506 36,413 267 (431 ) 36,249 Corporate Bonds 11,000 42 — 11,042 22,948 139 (22 ) 23,065 Total held to maturity 208,351 2,867 (1,215 ) 210,003 214,927 2,939 (1,577 ) 216,289 Total securities $ 1,016,519 $ 4,060 $ (10,373 ) $ 1,010,206 $ 807,594 $ 4,310 $ (8,431 ) $ 803,473 Securities with unrealized losses at year-end 2015 and 2014, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: December 31, 2015 2014 Less than 12 months Greater than 12 months Less than 12 months Greater than 12 months (In thousands) Fair Value Unrealized losses Fair Value Unrealized losses Fair Value Unrealized losses Fair Value Unrealized losses Available for sale: U.S. GSE securities $ 37,759 $ 235 $ 24,914 $ 329 $ 4,991 $ 8 $ 90,233 $ 2,131 State and municipal obligations 39,621 298 5,118 24 12,330 79 14,592 129 U.S. GSE residential mortgage-backed securities 136,025 1,224 1,510 46 — — 1,554 40 U.S. GSE residential collateralized mortgage obligations 187,543 1,781 66,830 2,107 60,126 349 122,179 2,618 U.S. GSE commercial mortgage-backed securities 8,594 80 — — — — 2,944 71 U.S. GSE commercial collateralized mortgage obligations 51,178 503 10,034 117 13,830 108 4,636 33 Other asset backed securities — — 22,371 1,879 23,038 1,153 — — Corporate Bonds 27,640 360 4,825 175 9,865 135 — — Total available for sale 488,360 4,481 135,602 4,677 124,180 1,832 236,138 5,022 Held to maturity: U.S. GSE securities — — — — — — 7,414 41 State and municipal obligations 18,375 113 — — 11,343 97 202 1 U.S. GSE residential mortgage-backed securities 7,503 106 — — — — 6,569 97 U.S. GSE residential collateralized mortgage obligations 15,918 149 15,679 349 10,422 46 30,413 816 U.S. GSE commercial mortgage-backed securities 13,982 313 — — — — 4,188 26 U.S. GSE commercial collateralized mortgage obligations 7,912 8 3,813 177 14,392 73 8,611 358 Corporate Bonds — — — — 3,978 22 — — Total held to maturity $ 63,690 $ 689 $ 19,492 $ 526 $ 40,135 $ 238 $ 57,397 $ 1,339 Unrealized losses on securities have not been recognized into income, as the losses on these securities would be expected to dissipate as they approach their maturity dates. The Company evaluates securities for other-than-temporary impairment periodically and with increased frequency when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, whether the market decline was affected by macroeconomic conditions, and whether the Company has the intent to sell the security or more than likely than not will be required to sell the security before its anticipated recovery. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the federal government or its entities, whether downgrades by bond rating agencies have occurred, and the issuer’s financial condition. At December 31 , the majority of unrealized losses on both the available for sale and held to maturity securities are related to the Company’s U.S. GSE residential collateralized mortgage obligations and Other Asset Backed securities. The decrease in fair value of the U.S. GSE residential collateralized mortgage obligations and Other Asset Backed securities is attributable to changes in interest rates and not credit quality. The Company does not have the intent to sell these securities and it is more likely than not that it will not be required to sell the securities before their anticipated recovery. Therefore, the Company does not consider these securities to be other-than-temporarily impaired at December 31, 2015 The following table sets forth the fair value, amortized cost and maturities of the securities at December 31, 2015. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2015 Within One Year After One But Within Five Years After Five But Within Ten Years After Ten Years Total (In thousands) Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Available for sale: U.S. GSE securities $ — $ — $ 33,747 $ 33,990 $ 28,927 $ 29,248 $ — $ — $ 62,674 $ 63,238 State and municipal obligations 4,801 4,785 46,591 46,696 27,692 27,478 8,851 8,871 87,935 87,830 U.S. GSE residential mortgage-backed securities — — — — 14,369 14,441 185,895 186,856 200,264 201,297 U.S. GSE residential collateralized mortgage obligations — — — — 4,227 4,242 313,651 317,011 317,878 321,253 U.S. GSE commercial mortgage-backed securities — — 5,898 5,925 6,520 6,566 — — 12,418 12,491 U.S. GSE commercial collateralized mortgage obligations — — — — 5,968 5,974 58,230 58,835 64,198 64,809 Other Asset backed securities — — — — — — 22,371 24,250 22,371 24,250 Corporate Bonds 1,000 1,000 — — 31,465 32,000 — — 32,465 33,000 Total available for sale 5,801 5,785 86,236 86,611 119,168 119,949 588,998 595,823 800,203 808,168 Held to maturity: U.S. GSE securities — — 7,467 7,466 — — — — 7,467 7,466 State and municipal obligations 4,864 4,859 16,474 16,384 39,098 37,616 6,044 6,019 66,480 64,878 U.S. GSE residential mortgage-backed securities — — 5,032 5,080 14,685 14,841 3,236 3,135 22,953 23,056 U.S. GSE residential collateralized mortgage obligations — — — — 1,536 1,494 59,516 59,439 61,052 60,933 U.S. GSE commercial mortgage-backed securities — — — — — — 7,503 7,609 7,503 7,609 U.S. GSE commercial collateralized mortgage obligations — — — — — — 33,506 33,409 33,506 33,409 Corporate Bonds — — 11,042 11,000 — — — — 11,042 11,000 Total held to maturity 4,864 4,859 40,015 39,930 55,319 53,951 109,805 109,611 210,003 208,351 Total securities $ 10,665 $ 10,644 $ 126,251 $ 126,541 $ 174,487 $ 173,900 $ 698,803 $ 705,434 $ 1,010,206 $ 1,016,519 There were $75.8 million of proceeds on sales of available for sale securities with gross gains of approximately $0.5 million and gross losses of approximately $0.5 million realized in 2015. There were $361.0 million of proceeds on sales of available for sale securities with gross gains of approximately $1.2 million and gross losses of approximately $2.3 million realized in 2014. There were $129.4 million of proceeds on sales of available for sale securities with gross gains of approximately $1.5 million and gross losses of approximately $0.8 million realized in 2013. Securities having a fair value of approximately $611.0 million and $451.1 million at December 31, 2015 and 2014, respectively, were pledged to secure public deposits and Federal Home Loan Bank and Federal Reserve Bank overnight borrowings. The Company did not hold any trading securities during the years ended December 31, 2015 and 2014. As of December 31, 2015, there was no issuer, other than U.S. Government and its Sponsored Entities, where the Bank had invested holdings that exceeded 10% of consolidated stockholder’s equity. As of December 31, 2014, there was one issuer, other than U.S. Government and its Sponsored Entities, where the Bank had invested holdings that exceeded 10% of consolidated stockholder’s equity and represented 13% of consolidated stockholder’s equity. These assets were more than 95% backed by a U.S. Government guarantee.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2015
LOANS
LOANS	3. LOANS The following table sets forth the major classifications of loans: December 31, 2015 2014 (In thousands) Commercial real estate mortgage loans $ 1,053,399 $ 595,397 Multi-family mortgage loans 350,793 218,985 Residential real estate mortgage loans 392,815 156,156 Commercial, financial and agricultural loans 501,766 291,743 Real estate construction and land loans 91,153 63,556 Installment/consumer loans 17,596 10,124 Total loans 2,407,522 1,335,961 Net deferred loan costs and fees 3,252 2,366 2,410,774 1,338,327 Allowance for loan losses (20,744 ) (17,637 ) Net loans $ 2,390,030 $ 1,320,690 On June 19, 2015, the Company completed the acquisition of Community National Bank (“CNB”) resulting in the addition of $734.0 million of acquired loans recorded at their fair value. There were approximately $659.7 million of acquired CNB loans remaining as of December 31, 2015. On February 14, 2014, the Company completed the acquisition of FNBNY Bancorp, Inc. and its wholly owned subsidiary First National Bank of New York (collectively “FNBNY”) resulting in the addition of $89.7 million of acquired loans recorded at their fair value. There were approximately $37.7 million and $64.9 million of acquired FNBNY loans remaining as of December 31, 2015 and 2014, respectively. Lending Risk The principal business of the Bank is lending, primarily in commercial real estate mortgage loans, multi-family mortgage loans, residential real estate mortgage loans, construction loans, home equity loans, commercial and industrial loans, land loans and consumer loans. The Bank considers its primary lending area to be Nassau and Suffolk Counties located on Long Island and a substantial portion of the Bank’s loans are secured by real estate in this area. Accordingly, the ultimate collectibility of such a loan portfolio is susceptible to changes in market and economic conditions in this region. Commercial Real Estate Mortgages Loans in this classification include income producing investment properties and owner occupied real estate used for business purposes. The underlying properties are generally located largely in our primary market area. The cash flows of the income producing investment properties are adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, will have an effect on credit quality. Generally, management seeks to obtain annual financial information for borrowers with loans in excess of $0.25 million in this category. In the case of owner-occupied real estate used for business purposes, a weakened economy and resultant decreased consumer and/or business spending will have an adverse effect on credit quality. Multi-Family Mortgages Loans in this classification include income producing residential investment properties of 5 or more families. The loans are usually made in areas with limited single family residences generating high demand for these facilities. Loans are made to established owners with a proven and demonstrable record of strong performance. Loans are secured by a first mortgage lien on the subject property with a loan to value ratio generally not exceeding 75%. Repayment is derived generally from the rental income generated from the property and maybe supplemented by the owners’ personal cash flow. Credit risk arises with an increase in vacancy rates, property mismanagement and the predominance of non-recourse loans that are customary in the industry. Residential Real Estate Mortgages and Home Equity Loans Loans in these classifications are made to and secured by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, can have an effect on the credit quality in this loan class. The Bank generally does not originate loans with a loan-to-value ratio greater than 80% and does not grant subprime loans. Commercial, Industrial and Agricultural Loans Loans in this classification are made to businesses and include term loans, lines of credit, senior secured loans to corporations and taxi medallion loans. Generally these loans are secured by assets of the business and repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer and/or business spending will have an effect on the credit quality in this loan class. Real Estate Construction and Land Loans Loans in this classification primarily include land loans to local individuals, contractors and developers for developing the land for sale or for the purpose of making improvements thereon. Repayment is derived primarily from sale of the lots/units including any pre-sold units. Credit risk is affected by market conditions, time to sell at an adequate price and cost overruns. To a lesser extent this class includes commercial development projects that the Company finances, which in most cases require interest only during construction, and then convert to permanent financing. Credit risk is affected by construction delays, cost overruns, market conditions and the availability of permanent financing, to the extent such permanent financing is not being provided by us. Installment and Consumer Loans Loans in this classification may be either secured or unsecured and repayment is dependent on the credit quality of the individual borrower and, if applicable, sale of the collateral securing the loan such as automobiles. Therefore, the overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this loan class. Allowance for Loan Losses The allowance for loan losses is established and maintained through a provision for loan losses based on probable incurred losses inherent in the Bank’s loan portfolio. Management evaluates the adequacy of the allowance on a quarterly basis. The allowance is comprised of both individual valuation allowances and loan pool valuation allowances. The Bank monitors its entire loan portfolio on a regular basis, with consideration given to detailed analysis of classified loans, repayment patterns, probable incurred losses, past loss experience, current economic conditions, and various types of concentrations of credit. Additions to the allowance are charged to expense and realized losses, net of recoveries, are charged to the allowance. Individual valuation allowances are established in connection with specific loan reviews and the asset classification process including the procedures for impairment testing under FASB Accounting Standard Codification (“ASC”) No. 310, “Receivables”. Such valuation, which includes a review of loans for which full collectibility in accordance with contractual terms is not reasonably assured, considers the estimated fair value of the underlying collateral less the costs to sell, if any, or the present value of expected future cash flows, or the loan’s observable market value. Any shortfall that exists from this analysis results in a specific allowance for the loan. Pursuant to our policy, loan losses must be charged-off in the period the loans, or portions thereof, are deemed uncollectible. Assumptions and judgments by management, in conjunction with outside sources, are used to determine whether full collectibility of a loan is not reasonably assured. These assumptions and judgments are also used to determine the estimates of the fair value of the underlying collateral or the present value of expected future cash flows or the loan’s observable market value. Individual valuation allowances could differ materially as a result of changes in these assumptions and judgments. Individual loan analyses are periodically performed on specific loans considered impaired. The results of the individual valuation allowances are aggregated and included in the overall allowance for loan losses. Loan pool valuation allowances represent loss allowances that have been established to recognize the inherent risks associated with our lending activities, but which, unlike individual allowances, have not been allocated to particular problem assets. Pool evaluations are broken down into loans with homogenous characteristics by loan type and include commercial real estate mortgages, multi-family mortgage loans, home equity loans, residential real estate mortgages, commercial and industrial loans, real estate construction and land loans and consumer loans. The determination of the adequacy of the valuation allowance is a process that takes into consideration a variety of factors. The Bank has developed a range of valuation allowances necessary to adequately provide for probable incurred losses inherent in each pool of loans. We consider our own charge-off history along with the growth in the portfolio as well as the Bank’s credit administration and asset management philosophies and procedures when determining the allowances for each pool. In addition, we evaluate and consider the credit’s risk rating which includes management’s evaluation of: cash flow, collateral, guarantor support, financial disclosures, industry trends and strength of borrowers’ management, the impact that economic and market conditions may have on the portfolio as well as known and inherent risks in the portfolio. Finally, we evaluate and consider the allowance ratios and coverage percentages of peer group and regulatory agency data. These evaluations are inherently subjective because, even though they are based on objective data, it is management’s interpretation of that data that determines the amount of the appropriate allowance. If the evaluations prove to be incorrect, the allowance for loan losses may not be sufficient to cover losses inherent in the loan portfolio, resulting in additions to the allowance for loan losses. The Credit Risk Management Committee is comprised of Bank management. The adequacy of the allowance is analyzed quarterly, with any adjustment to a level deemed appropriate by the Credit Risk Management Committee, based on its risk assessment of the entire portfolio. Each quarter, members of the Credit Risk Management Committee meet with the Credit Risk Committee of the Board to review credit risk trends and the adequacy of the allowance for loan losses. Based on the Credit Risk Management Committee’s review of the classified loans and the overall allowance levels as they relate to the loan portfolio at December 31, 2015 and 2014, management believes the allowance for loan losses has been established at levels sufficient to cover the probable incurred losses in the Bank’s loan portfolio. Future additions or reductions to the allowance may be necessary based on changes in economic, market or other conditions. Changes in estimates could result in a material change in the allowance. In addition, various regulatory agencies, as an integral part of the examination process, periodically review the allowance for loan losses. Such agencies may require the Bank to recognize adjustments to the allowance based on their judgments of the information available to them at the time of their examination. The following table sets forth changes in the allowance for loan losses: December 31, 2015 2014 2013 (In thousands) Allowance for loan losses balance at beginning of period $ 17,637 $ 16,001 $ 14,439 Charge-offs (1,128 ) (824 ) (916 ) Recoveries 235 260 128 Net charge-offs (893 ) (564 ) (788 ) Provision for loan losses charged to operations 4,000 2,200 2,350 Balance at end of period $ 20,744 $ 17,637 $ 16,001 The following table represents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, as defined under ASC 310-10, and based on impairment method as of December 31, 2015, 2014 and 2013. The loan segment represents the categories that the Bank develops to determine its allowance for loan losses. December 31, 2015 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 6,994 $ 2,670 $ 2,208 $ 4,526 $ 1,104 $ 135 $ 17,637 Charge-offs (50 ) — (249 ) (827 ) — (2 ) (1,128 ) Recoveries — — 79 149 — 7 235 Provision 906 1,538 77 1,557 (74 ) (4 ) 4,000 Ending balance $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Ending balance: individually evaluated for impairment $ 20 $ — $ — $ 9 $ — $ — $ 29 Ending balance: collectively evaluated for impairment $ 7,830 $ 4,208 $ 2,115 $ 5,396 $ 1,030 $ 136 $ 20,715 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 1,053,399 $ 350,793 $ 392,815 $ 501,766 $ 91,153 $ 17,596 $ 2,407,522 Ending balance: individually evaluated for impairment $ 1,629 $ — $ 672 $ 290 $ — $ — $ 2,591 Ending balance: collectively evaluated for impairment $ 1,051,135 $ 347,054 $ 390,876 $ 495,045 $ 91,153 $ 17,596 $ 2,392,859 Ending balance: loans acquired with deteriorated credit quality (1) $ 635 $ 3,739 $ 1,267 $ 6,431 $ — $ — $ 12,072 (1) December 31, 2014 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 6,279 $ 1,597 $ 2,712 $ 4,006 $ 1,206 $ 201 $ 16,001 Charge-offs (461 ) — (257 ) (104 ) — (2 ) (824 ) Recoveries — — 170 87 — 3 260 Provision 1,176 1,073 (417 ) 537 (102 ) (67 ) 2,200 Ending balance $ 6,994 $ 2,670 $ 2,208 $ 4,526 $ 1,104 $ 135 $ 17,637 Ending balance: individually evaluated for impairment $ 23 $ — $ 72 $ 79 $ — $ — $ 174 Ending balance: collectively evaluated for impairment $ 6,971 $ 2,670 $ 2,136 $ 4,447 $ 1,104 $ 135 $ 17,463 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 595,397 $ 218,985 $ 156,156 $ 291,743 $ 63,556 $ 10,124 $ 1,335,961 Ending balance: individually evaluated for impairment $ 5,136 $ — $ 383 $ 682 $ — $ — $ 6,201 Ending balance: collectively evaluated for impairment $ 582,946 $ 218,985 $ 154,897 $ 286,368 $ 63,556 $ 10,124 $ 1,316,876 Ending balance: loans acquired with deteriorated credit quality (1) $ 7,315 $ — $ 876 $ 4,693 $ — $ — $ 12,884 (1) December 31, 2013 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 4,445 $ 1,239 $ 2,803 $ 4,349 $ 1,375 $ 228 $ 14,439 Charge-offs — — (420 ) (420 ) (23 ) (53 ) (916 ) Recoveries — — 34 87 2 5 128 Provision 1,834 358 295 (10 ) (148 ) 21 2,350 Ending balance $ 6,279 $ 1,597 $ 2,712 $ 4,006 $ 1,206 $ 201 $ 16,001 Ending balance: individually evaluated for impairment $ 116 $ — $ 122 $ — $ — $ — $ 238 Ending balance: collectively evaluated for impairment $ 6,163 $ 1,597 $ 2,590 $ 4,006 $ 1,206 $ 201 $ 15,763 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 484,900 $ 107,488 $ 153,417 $ 209,452 $ 46,981 $ 9,287 $ 1,011,525 Ending balance: individually evaluated for impairment $ 5,950 $ — $ 2,382 $ 526 $ — $ — $ 8,858 Ending balance: collectively evaluated for impairment $ 478,129 $ 107,488 $ 151,035 $ 208,677 $ 46,641 $ 9,287 $ 1,001,257 Ending balance: loans acquired with deteriorated credit quality (1) $ 821 $ — $ — $ 249 $ 340 $ — $ 1,410 (1) The recorded investment in loans excludes accrued interest receivable and loan origination fees, net due to immateriality. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt including repayment patterns, probable incurred losses, past loss experience, current economic conditions, and various types of concentrations of credit. Assigned risk rating grades are continuously updated as new information is obtained. Loans risk rated special mention, substandard and doubtful are reviewed on a quarterly basis. The Company uses the following definitions for risk rating grades: Pass: Loans classified as pass include current loans performing in accordance with contractual terms, pools of homogenous residential real estate and installment/consumer loans that are not individually risk rated and loans which exhibit certain risk factors that do not require greater than usual monitoring by management. Special mention: Loans classified as special mention, while generally not delinquent, have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Bank's credit position at some future date. Substandard: Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. There is a distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in a substandard loan, and may also be at delinquency status and have defined weaknesses based on currently existing facts, conditions and values making collection or liquidation in full highly questionable and improbable. The following table represents loans by class categorized by internally assigned risk grades: Grades: December 31, 2015 Pass Special Mention Substandard Doubtful Total (In thousands) Commercial real estate: Owner occupied $ 465,967 $ 3,239 $ 2,115 $ — $ 471,321 Non-owner occupied 573,049 542 8,487 — 582,078 Multi-family loans 350,785 — 8 — 350,793 Residential real estate: Residential 323,557 87 845 — 324,489 Home equity 66,910 523 893 — 68,326 Commercial: Secured 121,037 151 2,549 — 123,737 Unsecured 370,642 3,191 4,196 — 378,029 Real estate construction and land loans 91,153 — — — 91,153 Installment/consumer loans 17,496 — 100 — 17,596 Total loans $ 2,380,596 $ 7,733 $ 19,193 $ — $ 2,407,522 At December 31, 2015 there were $0.02 million and $9.6 million, respectively, of acquired CNB loans included in the special mention and substandard grades and $0.1 million and $0.2 million, respectively, of acquired FNBNY loans included in the special mention and substandard grades. Grades: December 31, 2014 Pass Special Mention Substandard Doubtful Total (In thousands) Commercial real estate: Owner occupied $ 243,512 $ 7,133 $ 5,963 $ — $ 256,608 Non-owner occupied 334,790 171 3,828 — 338,789 Multi-family loans 217,855 202 928 — 218,985 Residential real estate: First lien 88,405 — 1,613 — 90,018 Home equity 64,994 212 932 — 66,138 Commercial: Secured 91,007 621 2,339 — 93,967 Unsecured 191,942 4,168 1,666 — 197,776 Real estate construction and land loans 63,190 — 366 — 63,556 Installment/consumer loans 9,921 100 103 — 10,124 Total loans $ 1,305,616 $ 12,607 $ 17,738 $ — $ 1,335,961 At December 31, 2014 there were $0.3 million and $1.5 million, respectively, of acquired FNBNY loans included in the special mention and substandard grades. Past Due and Nonaccrual Loans The following table represents the aging of the recorded investment in past due loans as of December 31, 2015 and December 31, 2014 by class of loans, as defined by ASC 310-10: December 31, 2015 30-59 Days Past Due 60-89 Days Past Due >90 Days Past Due And Accruing Nonaccrual Including 90 Days or More Past Due Total Past Due and Nonaccrual Current Total Loans (In thousands) Commercial real estate: Owner occupied $ — $ — $ 435 $ 631 $ 1,066 $ 470,255 $ 471,321 Non-owner occupied — — — — — 582,078 582,078 Multi-family loans — — — — — 350,793 350,793 Residential real estate: Residential mortgages 939 245 — 62 1,246 323,243 324,489 Home equity 69 100 188 610 967 67,359 68,326 Commercial: Secured — — 341 — 341 123,396 123,737 Unsecured 128 24 — 44 196 377,833 378,029 Real estate construction and land loans — — — — — 91,153 91,153 Installment/consumer loans — — — 3 3 17,593 17,596 Total loans $ 1,136 $ 369 $ 964 $ 1,350 $ 3,819 $ 2,403,703 $ 2,407,522 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due >90 Days Past Due And Accruing Nonaccrual Including 90 Days or More Past Due Total Past Due and Nonaccrual Current Total Loans (In thousands) Commercial real estate: Owner occupied $ — $ 184 $ — $ 595 $ 779 $ 255,829 $ 256,608 Non-owner occupied 181 — 10 10 201 338,588 338,789 Multi-family loans — — — — — 218,985 218,985 Residential real estate: First lien — — — 143 143 89,875 90,018 Home equity 919 — 134 374 1,427 64,711 66,138 Commercial: Secured — — — — — 93,967 93,967 Unsecured 25 — — 222 247 197,529 197,776 Real estate construction and land loans — — — — — 63,556 63,556 Installment/consumer loans 1 — — 3 4 10,120 10,124 Total loans $ 1,126 $ 184 $ 144 $ 1,347 $ 2,801 $ 1,333,160 $ 1,335,961 As of December 31, 2015, there were $1.2 million of CNB acquired loans that were 30-89 days past due. There were no FNBNY acquired loans that were 30-89 days past due at December 31, 2015 and 2014. All loans 90 days or more past due that are still accruing interest represent loans that were acquired from CNB and FNBNY which were recorded at fair value upon acquisition. These loans are considered to be accruing as management can reasonably estimate future cash flows and expect to fully collect the carrying value of these acquired loans. Therefore, the difference between the carrying value of these loans and their expected cash flows is being accreted into income. Impaired Loans As of December 31, 2015 and 2014, the Company had impaired loans as defined by FASB ASC No. 310, “Receivables” of $2.6 million and $6.2 million, respectively. For a loan to be considered impaired, management determines after review whether it is probable that the Bank will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management applies its normal loan review procedures in making these judgments. Impaired loans include individually classified nonaccrual loans and troubled debt restructured (“TDR”) loans. For impaired loans, the Bank evaluates the impairment of the loan in accordance with FASB ASC 310-10-35-22. Impairment is determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based upon recent appraised values. The fair value of the collateral or present value of expected cash flows is compared to the carrying value to determine if any write-down or specific loan loss allowance allocation is required. These methods of fair value measurement for impaired loans are considered level 3 within the fair value hierarchy described in FASB ASC 820-10-50-5. The following tables represent impaired loans by class at December 31, 2015, 2014 and 2013: December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 384 $ 564 $ — $ 412 $ 10 Non-owner occupied 927 928 — 938 62 Residential real estate: Residential mortgages 62 73 — 66 — Home equity 610 700 — 631 — Commercial: Secured 96 96 — 93 6 Unsecured — — — — — Total with no related allowance recorded 2,079 2,361 — 2,140 78 With an allowance recorded: Commercial real estate – Owner occupied — — — — — Commercial real estate – Non-owner occupied 318 318 20 320 15 Residential real estate– Residential mortgages — — — — — Residential real estate – Home equity — — — — — Commercial–Secured — — — — — Commercial–Unsecured 194 194 9 223 17 Total with an allowance recorded 512 512 29 543 32 Total: Commercial real estate: Owner occupied 384 564 — 412 10 Non-owner occupied 1,245 1,246 20 1,258 77 Residential real estate: Residential mortgages 62 73 — 66 — Home equity 610 700 — 631 — Commercial: Secured 96 96 — 93 6 Unsecured 194 194 9 223 17 Total $ 2,591 $ 2,873 $ 29 $ 2,683 $ 110 December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 3,562 $ 3,707 $ — $ 3,974 $ 113 Non-owner occupied 1,251 1,568 — 961 63 Residential real estate: Residential mortgages 143 231 — 199 — Home equity 169 377 — 229 — Commercial: Secured 345 345 — 354 25 Unsecured — — — — — Total with no related allowance recorded 5,470 6,228 — 5,717 201 With an allowance recorded: Commercial real estate – Owner occupied — — — — — Commercial real estate – Non-owner occupied 323 323 23 27 — Residential real estate– Residential mortgages — — — — — Residential real estate – Home equity 71 89 72 75 13 Commercial–Secured — — — — — Commercial–Unsecured 337 339 79 206 — Total with an allowance recorded 731 751 174 308 13 Total: Commercial real estate: Owner occupied 3,562 3,707 — 3,974 113 Non-owner occupied 1,574 1,891 23 988 63 Residential real estate: Residential mortgages 143 231 — 199 — Home equity 240 466 72 304 13 Commercial: Secured 345 345 — 354 25 Unsecured 337 339 79 206 — Total $ 6,201 $ 6,979 $ 174 $ 6,025 $ 214 December 31, 2013 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 3,696 $ 3,805 $ — $ 3,730 $ 118 Non-owner occupied 917 917 — 917 60 Residential real estate: First lien 1,463 2,213 — 1,482 26 Home equity 689 1,046 — 633 — Commercial: Secured 352 352 — 450 26 Unsecured 174 — — 232 59 Total with no related allowance recorded 7,291 8,333 — 7,444 289 With an allowance recorded: Commercial real estate – Owner occupied 720 720 94 420 — Commercial real estate – Non-owner occupied 617 617 22 515 — Residential real estate – First Lien 152 156 42 141 — Residential real Estate – Home equity 78 89 80 81 — Total with an allowance recorded 1,567 1,582 238 1,157 — Total: Commercial real estate: Owner occupied 4,416 4,525 94 4,150 118 Non-owner occupied 1,534 1,534 22 1,432 60 Residential real estate: First lien 1,615 2,369 42 1,623 26 Home equity 767 1,135 80 714 — Commercial: Secured 352 352 — 450 26 Unsecured 174 — — 232 59 Total $ 8,858 $ 9,915 $ 238 $ 8,601 $ 289 The recorded investment in loans excludes accrued interest receivable and loan origination fees, net due to immateriality. For purposes of this disclosure, the unpaid principal balance is not reduced for partial charge-offs. The Bank had $250,000 other real estate owned at December 31, 2015 and none at December 31, 2014. Troubled Debt Restructurings The terms of certain loans were modified and are considered troubled debt restructurings (“TDR”). The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. The modification of these loans involved a loan to borrowers who were experiencing financial difficulties. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed to determine if that borrower is currently in payment default under any of its obligations or whether there is a probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The following table presents loans by class modified as troubled debt restructurings: Years Ended December 31, 2015 2014 2013 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment (Dollars in thousands) Trouble Debt Restructurings Commercial real estate: Owner occupied — $ — $ — — $ — $ — 1 $ 720 $ 720 Non-owner occupied — — — 1 323 323 1 620 620 Residential real estate: Home equity: — — — 1 127 127 — — — Commercial: Unsecured 3 160 160 1 127 127 1 33 33 Installment/consumer loans — — — 1 5 5 — — — Total loans 3 $ 160 $ 160 4 $ 582 $ 582 3 $ 1,373 $ 1,373 The TDRs described above did not increase the allowance for loan losses during the years ended December 31, 2015, 2014 and 2013. There were $0.7 million and $0.5 million of charge-offs related to TDRs during the years ended December 31, 2015 and 2014, respectively. There were no charge-offs related to TDRs during the year ended December 31, 2013. There were no loans modified as TDRs during 2015 and 2014 for which there was a payment default within twelve months following the modification. During 2013, there was one loan modified as a TDR for which there was a payment default within twelve months following the modification. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. The Bank had no commitments to lend additional amounts to loans that were classified as TDRs. At December 31, 2015 and 2014, the Company had $0.1 million and $0.5 million, respectively of nonaccrual TDR loans and $1.7 million and $5.0 million, respectively of performing TDRs. At December 31, 2015 and 2014, total nonaccrual TDR loans are secured with collateral that has an appraised value of $0.3 million and $0.9 million, respectively. The terms of certain other loans were modified during the year ended December 31, 2015 that did not meet the definition of a TDR. These loans have a total recorded investment as of December 31, 2015 of $11.0 million. The modification of these loans involved a modification of the terms of loans to borrowers who were not experiencing financial difficulties. Acquired Loans Loans acquired in a business combination are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is not recorded at the acquisition date. In determining the acquisition date fair value of purchased loans, acquired loans are aggregated into pools of loans with common characteristics. Each loan is reviewed at acquisition to determine if it should be accounted for as a loan that has experienced credit deterioration and it is probable that at acquisition, the Company will not be able to collect all the contractual principle and interest due from the borrower. All loans with evidence of deterioration in credit quality are considered purchased credit impaired (“PCI”) loans unless the loan type is specifically excluded from the scope of ASC 310-30 “Loans and Debt Securities Acquired with Deteriorated Credit Quality,” such as loans with active revolver features or because management has minimal doubt in the collection of the loan. The Bank makes an estimate of the loans’ contractual principal and contractual interest payments as well as the total cash flows it expects to collect from the pools of loans, which includes undiscounted expected principal and interest. The excess of contractual amounts over the total cash flows expected to be collected from the loans is referred to as non-accretable difference, which is not accreted into income. The excess of the expected undiscounted cash flows over the fair value of the loans is referred to as accretable discount. Accretable discount is recognized as interest income on a level-yield basis over the life of the loans. Management has not included prepayment assumptions in its modeling of contractual or expected cash flows. The Bank continues to estimate cash flows expected to be collected over the life of the loans. Subsequent increases in total cash flows expected to be collected are recognized as an adjustment to the accretable yield with the amount of periodic accretion adjusted over the remaining life of the loans. Subsequent decreases in cash flows expected to be collected over the life of the loans are recognized as impairment in the current period through allowance for loan losses. A PCI loan may be resolved either through a sale of the loan, by working with the customer and obtaini

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT Premises and equipment consist of: December 31, 2015 2014 (In thousands) Land $ 7,381 $ 7,381 Building and improvements 14,839 14,829 Furniture, fixtures and equipment 22,292 19,134 Leasehold improvements 17,887 11,243 62,399 52,587 Less: accumulated depreciation and amortization (22,804 ) (20,163 ) Total $ 39,595 $ 32,424 Depreciation and amortization amounted to $3.6 million, $2.6 million and $2.0 million for 2015, 2014 and 2013, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	5. GOODWILL AND OTHER INTANGIBLE ASSETS FASB ASC No. 350, Intangibles — Goodwill and Other, requires a company to perform an impairment test on goodwill annually, or more frequently if events or changes in circumstance indicate that the asset might be impaired, by computing the fair value of such goodwill to its recorded or carrying amount. If the carrying amount of goodwill exceeds the fair value, an impairment charge must be recorded in an amount equal to the excess. The FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment,” The Company tested goodwill for impairment during the fourth quarter of 2015. The Company has one reporting unit, Bridge Bancorp. Inc. and as such, evaluated goodwill at that reporting unit level. At December 31, 2015, the Company’s reporting unit elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value and no further testing was required. The results of this assessment indicated that goodwill was not impaired. Goodwill The change in goodwill during the year is as follows: 2015 2014 (In thousands) Balance at January 1 $ 9,450 $ 2,034 Acquired goodwill 88,995 7,416 Impairment — — Balance at December 31 $ 98,445 $ 9,450 Acquired Intangible Assets Acquired intangible assets were as follows at year end: 2015 2014 At December 31, Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 7,211 $ 1,186 $ 1,311 $ 469 Non-compete intangible 2,188 730 — — Total $ 9,399 $ 1,916 $ 1,311 $ 469 Aggregate amortization expense for the years ended December 31, 2015, 2014, and 2013 was $1,447,000, $300,000, and $59,000, respectively. Estimated amortization expense for each of the next five years and thereafter is as follows: Total (In thousands) 2016 $ 2,272 2017 1,412 2018 916 2019 786 2020 656 Thereafter 1,441 $ 7,483

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2015
DEPOSITS
DEPOSITS	6. DEPOSITS Time Deposits The following table sets forth the remaining maturities of the Bank’s time deposits at December 31, 2015: Total (In thousands) 2016 $ 185,650 2017 54,871 2018 25,832 2019 20,255 2020 6,247 Total $ 292,855 The deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2015 and 2014 were $52.0 million and $27.6 million, respectively. Deposits from principal officers, directors and their affiliates at December 31, 2015 and 2014 were approximately $13.3 million and $2.6 million, respectively.

SECURITIES SOLD UNDER AGREEMENT

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	12 Months Ended
	Dec. 31, 2015
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	7. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE At December 31, 2015 and 2014, securities sold under agreements to repurchase totaled $50.9 million and $36.3 million, respectively, and were secured by U.S. GSE, residential mortgage-backed securities and residential collateralized mortgage obligations with carrying amounts of $55.9 million and $40.3 million, respectively. Securities sold under agreements to repurchase are financing arrangements with $0.9 million maturing during the first quarter of 2016 and $50.0 million maturing during the fourth quarter of 2016. At maturity, the securities underlying the agreements are returned to the Company. Information concerning the securities sold under agreements to repurchase is summarized as follows: 2015 2014 (Dollars in thousands) Average daily balance during the year $ 30,317 $ 14,185 Average interest rate during the year 0.65 % 2.71 % Maximum month-end balance during the year $ 51,400 $ 36,879 Weighted average interest rate at year-end 0.64 % 2.67 % The primary risk associated with these secured borrowings is the requirement to pledge a market value based balance of collateral in excess of the borrowed amount. The excess collateral pledged represents an unsecured exposure to the lending counterparty. As the market value of the collateral changes, both through changes in discount rates and spreads as well as related cash flows, additional collateral may need to be pledged. In accordance with our policies, eligible counterparties are defined and monitored to minimize our exposure.

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES	8. FEDERAL HOME LOAN BANK ADVANCES The following table sets forth the contractual maturities and weighted average interest rates of FHLB advances for each of the next five years. There are no FHLB advances with contractual maturities after 2019. December 31, 2015 Contractual Maturity Amount Weighted Average Rate (Dollars in thousands) Overnight $ — — % 2016 249,599 0.75 % 2017 19,149 0.74 2018 25,781 1.04 2019 2,978 1.08 297,507 0.78 % $ 297,507 0.78 % December 31, 2014 Contractual Maturity Amount Weighted Average Rate (Dollars in thousands) Overnight $ 69,000 0.32 % 2015 41,508 0.37 % 2016 11,703 0.69 2017 — — 2018 16,116 1.00 69,327 0.57 % $ 138,327 0.44 % Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $666.3 million and $385.2 million of residential and commercial mortgage loans under a blanket lien arrangement at year end 2015 and 2014, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company is eligible to borrow up to a total of $1.1 billion at year end 2015.

BORROWED FUNDS

BORROWED FUNDS	12 Months Ended
	Dec. 31, 2015
Subordinated Borrowings [Abstract]
BORROWED FUNDS	9. BORROWED FUNDS Subordinated Debentures In September 2015, the Company issued $80.0 million in aggregate principal amount of fixed-to-floating rate subordinated debentures (the “Notes”). $40.0 million of the Notes are callable at par after five years, have a stated maturity of September 30, 2025 and bear interest at a fixed annual rate of 5.25% per year, from and including September 21, 2015 until but excluding September 30, 2020. From and including September 30, 2020 to the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 360 basis points. The remaining $40.0 million of the Notes are callable at par after ten years, have a stated maturity of September 30, 2030 and bear interest at a fixed annual rate of 5.75% per year, from and including September 21, 2015 until but excluding September 30, 2025. From and including September 30, 2025 to the maturity date or early redemption date, the interest rate will reset quarterly to an annual interest rate equal to the then-current three-month LIBOR plus 345 basis points. The Notes are included in Tier 2 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. Junior Subordinated Debentures In December 2009, the Company completed the private placement of $16.0 million in aggregate liquidation amount of 8.50% cumulative convertible trust preferred securities (the "TPS”), through its subsidiary, Bridge Statutory Capital Trust II. The TPS have a liquidation amount of $1,000 per security and are convertible into our common stock, at an effective conversion price of $31 per share. The TPS mature in 30 years but are callable by the Company at par any time after September 30, 2014. The Company issued $16.0 million of junior subordinated debentures (the “Debentures”) to the trust in exchange for ownership of all of the common security of the trust and the proceeds of the preferred securities sold by the trust. In accordance with current accounting guidance, the trust is not consolidated in the Company’s financial statements, but rather the Debentures are shown as a liability. The Debentures bear interest at a fixed rate equal to 8.50% and mature on December 31, 2039. Consistent with regulatory requirements, the interest payments may be deferred for up to 5 years, and are cumulative. The Debentures have the same prepayment provisions as the TPS. The Debentures may be included in Tier I capital (with certain limitations applicable) under current regulatory guidelines and interpretations.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2015
DERIVATIVES
DERIVATIVES	10. DERIVATIVES Cash Flow Hedges of Interest Rate Risk The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swap does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest rate swaps with notional amounts totaling $125.0 million and $75.0 million as of December 31, 2015 and 2014, respectively, were designated as cash flow hedges of certain Federal Home Loan Bank advances and repurchase agreements. The swaps were determined to be fully effective during the periods presented and therefore no amount of ineffectiveness has been included in net income. The aggregate fair value of the swaps is recorded in other assets/(other liabilities) with changes in fair value recorded in other comprehensive income (loss). The amount included in accumulated other comprehensive income (loss) would be reclassified to current earnings should the hedges no longer be considered effective. The Company expects the hedges to remain fully effective during the remaining term of the swaps. Summary information about the interest rate swaps designated as cash flow hedges as of December 31 is as follows: (Dollars in thousands) 2015 2014 Notional amounts $ 125,000 $ 75,000 Weighted average pay rates 1.58 % 1.39 % Weighted average receive rates 0.51 % 0.24 % Weighted average maturity 3.22 years 3.86 years Interest expense recorded on these swap transactions totaled $657,000 and $470,000 during 2015 and 2014, respectively, and is reported as a component of interest expense on FHLB Advances. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest income/expense as interest payments are made/received on the Company’s variable-rate assets/liabilities. During the year ended December 31, 2015, the Company had $657,000 of reclassifications to interest expense. During the next twelve months, the Company estimates that $762,000 will be reclassified as an increase in interest expense. The following tables present the net gains (losses) recorded in accumulated other comprehensive income and the Consolidated Statements of Income relating to the cash flow derivative instruments for the twelve months ended December 31: 2015 (In thousands) Amount of (loss) recognized in OCI (Effective Portion) Amount of (loss) reclassified from OCI to interest expense Amount of (loss) recognized in other non- interest income (Ineffective Portion) Interest rate contracts $ (1,008 ) $ (657 ) $ — 2014 (In thousands) Amount of (loss) recognized in OCI (Effective Portion) Amount of (loss) reclassified from OCI to interest expense Amount of (loss) recognized in other non- interest income (Ineffective Portion) Interest rate contracts $ (1,249 ) $ (470 ) $ — The following table reflects the cash flow hedge included in the Consolidated Balance Sheets: As of December 31, 2015 2014 Fair Fair Fair Fair Notional Value Value Notional Value Value (In thousands) Amount Asset Liability Amount Asset Liability Included in other assets/(liabilities): Interest rate swaps related to FHLB Advances $ 100,000 $ 14 $ (713 ) $ 40,000 $ 32 $ (280 ) Forward starting interest rate swap related to repurchase agreements — — — 10,000 — (445 ) Forward starting interest rate swap related to FHLB Advances 25,000 — (595 ) 25,000 — (250 ) Non-Designated Hedges Derivatives not designated as hedges may be used to manage the Company’s exposure to interest rate movements or to provide service to customers but do not meet the requirements for hedge accounting under U.S. GAAP. The Company executes interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that the Company executes with a third party in order to minimize the net risk exposure resulting from such transactions. These interest-rate swap agreements do not qualify for hedge accounting treatment, and therefore changes in fair value are reported in current period earnings. The following table presents summary information about these interest rate swaps as of December 31: (Dollars in thousands) 2015 2014 Notional amounts $ 56,328 $ 11,175 Weighted average pay rates 3.39 % 3.28 % Weighted average receive rates 3.39 % 3.28 % Weighted average maturity 3.39 years 9.64 years Fair value of combined interest rate swaps $ — $ — Credit-Risk-Related Contingent Features As of December 31, 2015 the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $2.2 million. As of December 31, 2015, the Company has minimum collateral posting thresholds with certain of its derivative counterparties and has posted collateral of $1.9 million against its obligations under these agreements. If the Company had breached any of these provisions at December 31, 2015, it could have been required to settle its obligations under the agreements at the termination value.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
INCOME TAXES	11. INCOME TAXES The components of income tax expense are as follows: Years Ended December 31, 2015 2014 2013 (In thousands) Current: Federal $ 8,248 $ 3,926 $ 5,500 State 1,230 507 664 9,478 4,433 6,164 Deferred: Federal 1,457 2,187 403 State (157 ) 619 102 1,300 2,806 505 Income tax expense $ 10,778 $ 7,239 $ 6,669 The reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision follows: Years Ended December 31, 2015 2014 2013 (Dollars in thousands) Amount Percentage of Pre-tax Earnings Amount Percentage of Pre-tax Earnings Amount Percentage of Pre-tax Earnings Federal income tax expense computed by applying the statutory rate to income before income taxes $ 11,161 35 % $ 7,141 34 % $ 6,828 34 % Tax exempt interest (927 ) (3 ) (665 ) (3 ) (740 ) (4 ) State taxes, net of federal income tax benefit 1,087 3 743 4 502 3 Other (543 ) (1 ) 20 — 79 1 Income tax expense $ 10,778 34 % $ 7,239 35 % $ 6,669 34 % Deferred tax assets and liabilities are comprised of the following: December 31, 2015 2014 (In thousands) Deferred tax assets: Allowance for loan losses $ 9,034 $ 7,311 Net unrealized losses on securities 3,224 2,177 Restricted stock awards 1,435 1,003 Purchase accounting fair value adjustments 15,942 8,321 Net change in pension liability 2,811 2,985 Net operating loss carryforward 1,955 2,063 Net loss on cash flow hedge 524 374 Other 792 351 Total 35,717 24,585 Deferred tax liabilities: Pension and SERP expense (4,142 ) (3,765 ) Depreciation (1,828 ) (1,832 ) REIT undistributed net income (482 ) (628 ) Net deferred loan costs and fees (1,416 ) (981 ) Other (1,541 ) (707 ) Total (9,409 ) (7,913 ) Net deferred tax asset $ 26,308 $ 16,672 The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the State and City of New York and the State of New Jersey. The Company is no longer subject to examination by taxing authorities for years before 2012. There are no unrecorded tax benefits and the Company does not expect the total amount of unrecognized income tax benefits to significantly increase in the next twelve months. Tax laws were enacted in 2014 and 2015 that changed the manner in which financial institutions and their affiliates are taxed in New York State and New York City, effective January 1, 2015. The initial impact of enactment of these law changes on the carrying amount of the Company’s deferred tax assets and liabilities were immaterial to the consolidated financial statements. In connection with the acquisitions of HSB and FNBNY, the Company acquired net operating loss (“NOL”) carryfowards subject to Internal Revenue Code Section 382. The Company recorded a deferred tax asset that it expects to realize within the carryfoward period. At December 31, 2015, the remaining NOL carryforward was $4.5 million.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2015
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	12. EMPLOYEE BENEFITS a) Pension Plan and Supplemental Executive Retirement Plan The Bank maintains a noncontributory pension plan covering all eligible employees. The Bank uses a December 31 st “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” New York State Bankers Association Retirement System to the new Trustee, Bank of America, N.A. During 2012, the Company amended the pension plan revising the formula for determining benefits effective January 1, 2013, except for certain grandfathered employees. During 2001, the Bank adopted the Bridgehampton National Bank Supplemental Executive Retirement Plan (“SERP”). The SERP provides benefits to certain employees, as recommended by the Compensation Committee of the Board of Directors and approved by the full Board of Directors, whose benefits under the pension plan are limited by the applicable provisions of the Internal Revenue Code. The benefit under the SERP is equal to the additional amount the employee would be entitled to under the Pension Plan and the 401(k) Plan in the absence of such Internal Revenue Code limitations. The assets of the SERP are held in a rabbi trust to maintain the tax-deferred status of the plan and are subject to the general, unsecured creditors of the Company. As a result, the assets of the trust are reflected on the Consolidated Balance Sheets of the Company. Information about changes in obligations and plan assets of the defined benefit pension plan and the defined benefit plan component of the SERP are as follows: Pension Benefits SERP Benefits At December 31, 2015 2014 2015 2014 (In thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 18,960 $ 13,243 $ 2,457 $ 1,919 Service cost 1,134 905 168 132 Interest cost 706 639 91 88 Benefits paid and expected expenses (264 ) (282 ) (112 ) (112 ) Assumption changes and other (2,021 ) 4,455 (49 ) 430 Plan amendment — — — — Benefit obligation at end of year $ 18,515 $ 18,960 $ 2,555 $ 2,457 Change in plan assets, at fair value: Plan assets at beginning of year $ 23,887 $ 21,828 $ — $ — Actual return on plan assets (60 ) 981 — — Employer contribution 999 1,361 112 112 Benefits paid and actual expenses (264 ) (283 ) (112 ) (112 ) Plan assets at end of year $ 24,562 $ 23,887 $ — $ — Funded status (plan assets less benefit obligations) $ 6,047 $ 4,927 $ (2,555 ) $ (2,457 ) Amounts recognized in accumulated other comprehensive income at December 31, consist of: Pension Benefits SERP Benefits At December 31, 2015 2014 2015 2014 (In thousands) Net actuarial loss $ 7,108 $ 7,631 $ 546 $ 628 Prior service cost (792 ) (869 ) — — Transition obligation — — 60 87 Plan amendment — — — — Net amount recognized $ 6,316 $ 6,762 $ 606 $ 715 The accumulated benefit obligation was $17.1 million and $1.9 million for the pension plan and the SERP, respectively, as of December 31, 2015. As of December 31, 2014, the accumulated benefit obligation was $16.7 million and $1.9 million for the pension plan and the SERP, respectively. Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income Pension Benefits SERP Benefits At December 31, 2015 2014 2013 2015 2014 2013 (In thousands) Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income Service cost $ 1,134 $ 905 $ 931 $ 168 $ 132 $ 149 Interest cost 706 639 564 91 88 76 Expected return on plan assets (1,838 ) (1,625 ) (1,385 ) — — — Amortization of net loss 376 27 325 32 — — Amortization of unrecognized prior service cost (77 ) (77 ) (77 ) — — — Amortization of unrecognized transition (asset) obligation — — — 28 28 43 Net periodic benefit cost (credit) $ 301 $ (131 ) $ 358 $ 319 $ 248 $ 268 Net (gain) loss $ (123 ) $ 5,099 $ (2,677 ) $ (48 ) $ 430 $ (193 ) Prior service cost — — — — — — Transition obligation — — — — — — Amortization of net loss (376 ) (27 ) (325 ) (32 ) — — Amortization of prior service cost 77 77 77 — — — Amortization of transition obligation — — — (27 ) (27 ) (43 ) (422 ) 5,149 (2,925 ) (107 ) 403 (236 ) Deferred taxes 141 (2,044 ) 1,161 33 (160 ) 93 Total recognized in other comprehensive income (281 ) 3,105 (1,764 ) (74 ) 243 (143 ) Total recognized in net periodic benefit cost and other comprehensive income $ 20 $ 2,974 $ (1,406 ) $ 245 $ 491 $ 125 The estimated net loss, transition obligation and prior service credit for the defined benefit pension plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $400,000, $0 and $77,000, respectively. The estimated net loss and unrecognized net transition obligation for the SERP that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $27,000 and $28,000, respectively. Expected Long-Term Rate-of-Return The expected long-term rate-of-return on plan assets reflects long-term earnings expectations on existing plan assets and those contributions expected to be received during the current plan year. In estimating that rate, appropriate consideration was given to historical returns earned by plan assets in the fund and the rates of return expected to be available for reinvestment. Average rates of return over the past 1, 3, 5 and 10-year periods were determined and subsequently adjusted to reflect current capital market assumptions and changes in investment allocations. Pension Benefits SERP Benefits At December 31, 2015 2014 2013 2015 2014 2013 Weighted Average Assumptions Used to Determine Benefit Obligations Discount rate 4.30 % 3.90 % 4.90 % 4.20 % 3.80 % 4.70 % Rate of compensation increase 3.00 3.00 3.00 5.00 5.00 5.00 Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 3.90 % 4.90 % 4.20 % 3.80 % 4.70 % 3.90 % Rate of compensation increase 3.00 3.00 3.00 5.00 5.00 5.00 Expected long-term rate of return 7.50 7.50 7.50 — — — Plan Assets The Plan seeks to provide retirement benefits to the employees of the Bank who are entitled to receive benefits under the Plan. The Plan’s overall investment strategy is to achieve a mix of approximately 97% of investments for long - - Cash equivalents consist primarily of short term investment funds. Equity securities primarily include investments in common stock, mutual funds, depository receipts and exchange traded funds. Fixed income securities include corporate bonds, government issues, mortgage backed securities, high yield securities and mutual funds. The weighted average expected long - The long term rate of return considers historical returns for the S&P 500 index and corporate bonds from 1926 to 2014 representing cumulative returns of approximately 10.1% and 5%, respectively. These returns were considered along with the target allocations of asset categories. Effective August 30, 2011, the Plan revised its investment guidelines. Except for pooled vehicles and mutual funds, which are governed by the prospectus and unless expressly authorized by management, the Plan and its investment managers are prohibited from purchasing the following investments: · Purchases of letter stock, private placements, or direct payments · Purchases of securities not readily marketable · Pledging or hypothecating securities, except for loans of securities that are fully collateralized · Purchasing or selling derivative securities for speculation or leverage · Investments by the investment managers in their own securities, their affiliates or subsidiaries (excluding money market funds) · Purchases of Bridge Bancorp. stock. The target allocations for Plan assets are shown in the table below: Percentage of Plan Assets At December 31, Weighted- Average Expected Target Allocation 2016 2015 2014 Long-term Rate of Return Asset Category Cash Equivalents 0 – 5 % 4.6 % 4.1 % — Equity Securities 45 - 65 % 62.2 % 62.1 % 4.9 % Fixed income securities 35 - 55 % 33.2 % 33.8 % 2.6 % Total 100.0 % 100.0 % 7.5 % Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments valued using the Net Asset Value (“NAV”) are classified as level 2 if the Plan can redeem its investment with the investee at the NAV at the measurement date. If the Plan can never redeem the investment with the investee at the NAV, it is considered a level 3. If the Plan can redeem the investment at the NAV at a future date, the Plan's assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset. In accordance with FASB ASC 715-20, the following table represents the Plan’s fair value hierarchy for its financial assets measured at fair value on a recurring basis as of December 31, 2015 and 2014: Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Cash and Cash Equivalents Cash $ 1,129 $ 1,129 $ — Short term investment funds 21 — 21 Total cash equivalents 1,150 1,129 21 Equities: U.S. Large cap 7,472 7,472 — U.S. Mid cap/small cap 2,259 2,259 — International 4,390 4,390 — Equities blend 1,151 1,151 — Total equities 15,272 15,272 — Fixed income securities: Government issues 1,329 984 345 Corporate bonds 1,308 — 1,308 Mortgage backed 562 — 562 High yield bonds and bond funds 4,941 — 4,941 Total fixed income securities 8,140 984 7,156 Total Plan Assets $ 24,562 $ 17,385 $ 7,177 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Cash and Cash Equivalents Cash $ 15 $ 15 $ — Short term investment funds 964 — 964 Total cash equivalents 979 15 964 Equities: U.S. Large cap 9,918 9,919 — U.S. Mid cap 800 800 — U.S. Small cap 782 782 — International 3,361 3,361 — Total equities 14,861 14,862 — Fixed income securities: Government issues 1,413 — 1,413 Corporate bonds 1,220 — 1,220 Mortgage backed 533 — 533 High yield bonds and bond funds 4,881 — 4,881 Total fixed income securities 8,047 — 8,047 Total Plan Assets $ 23,887 $ 14,877 $ 9,011 The Company has no minimum required pension contribution due to the overfunded status of the plan. Estimated Future Payments The following benefit payments, which reflect expected future service, are expected to be paid as follows: Year Pension and SERP Payments 2016 $ 506 2017 568 2018 663 2019 733 2020 899 2021-2025 5,913 b) 401(k) Plan The Company provides a 401(k) plan which covers substantially all current employees. Newly hired employees are automatically enrolled in the plan on the 90 th c) Equity Incentive Plan On May 4, 2012 the Bridge Bancorp, Inc. 2012 Stock-Based Incentive Plan (the “2012 Plan”) was approved by the shareholders to provide for the grant of stock-based and other incentive awards to officers, employees and directors of the Company. The plan supersedes the Bridge Bancorp, Inc. Equity Incentive Plan that was approved in 2006 (the “2006 Plan”). The number of shares of Common Stock of Bridge Bancorp, Inc. available for stock-based awards under the 2012 Plan is 525,000 plus 278,385 shares that were remaining under the 2006 Plan. Of the total 803,385 shares of common stock approved for issuance under the Plan, 581,369 shares remain available for issuance at December 31, 2015, including shares that may be granted in the form of restricted stock awards or restricted stock units. The Compensation Committee of the Board of Directors determines awards under the Plan. The Company accounts for this Plan under FASB ASC No. 718 and 505. Stock Options The fair value of each option granted is estimated on the date of the grant using the Black-Scholes option-pricing model. No new grants of stock options were awarded during the years ended December 31, 2015 and 2014. A summary of the status of the Company’s stock options as of December 31, 2015 follows: (Dollars in thousands, except per share amounts) Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding, January 1, 2015 39,870 $ 25.63 Granted — — Exercised (14,014 ) $ 25.53 Forfeited — — Expired (2,131 ) $ 30.60 Outstanding, December 31, 2015 23,725 $ 25.25 0.91 years $ 123 Vested and Exercisable, December 31, 2015 23,725 $ 25.25 0.91 years $ 123 Range of Exercise Prices Number of Options Exercise Price 23,725 $ 25.25 23,725 The aggregate intrinsic value for options outstanding and exercisable as of December 31, 2015 is the same because all options are currently vested. A summary of activity related to the stock options follows: December 31, 2015 2014 2013 (In thousands) Intrinsic value of options exercised $ 52 $ 3 $ 4 Cash received from options exercised 80 7 4 Tax benefit realized from option exercises — — — Weighted average fair value of options granted — — — There was no compensation expense attributable to stock options for the years ended December 31, 2015, 2014, and 2013 because all stock options were vested. Restricted Stock Awards A summary of the status of the Company’s shares of unvested restricted stock for the year ended December 31, 2015 follows: Shares Weighted Average Grant-Date Fair Value Unvested, January 1, 2015 248,444 $ 22.48 Granted 71,187 $ 26.33 Vested (33,586 ) $ 21.79 Forfeited (4,969 ) $ 26.61 Unvested, December 31, 2015 281,076 $ 23.46 The 2012 Plan provides for issuance of restricted stock awards. During the year ended December 31, 2015, the Company granted restricted awards of 71,187 shares. Of the 71,187 shares granted, 30,625 shares vest over approximately seven years with a third vesting after years five, six and seven, 24,812 shares vest over approximately five years with a third vesting after years three, four and five, 10,550 shares vest ratably over five years, 4,000 shares vest ratably over 3 years and 1,200 shares vest ratably over two years. During the year ended December 31, 2014, the Company granted restricted awards of 80,273 shares. Of the 80,273 shares granted, 53,425 shares vest over approximately seven years with a third vesting after years five, six and seven, 20,598 shares vest over approximately five years with a third vesting after years three, four and five and 6,250 shares vest ratably over two years. During the year ended December 31, 2013, the Company granted restricted stock awards of 72,940 shares. Of the 72,940 shares granted, 51,175 shares vest over approximately seven years with a third vesting after years five, six and seven, 12,652 shares vest over approximately five years with a third vesting after years three, four and five and 9,113 shares vest ratably over five years. Such shares are subject to restrictions based on continued service as employees of the Company or its subsidiaries. Compensation expense attributable to these awards was approximately $1,266,000, $1,087,000 and $1,152,000 for the years ended December 31, 2015, 2014, and 2013, respectively. The total fair value of shares vested during the years ended December 31, 2015, 2014 and 2013 was $732,000, $579,000 and $1,065,000, respectively. As of December 31, 2015, there was $4,124,000 of total unrecognized compensation costs related to non-vested restricted stock awards granted under the Plan. The cost is expected to be recognized over a weighted-average period of 4.17 years. Restricted Stock Units Effective for 2015, the Board revised the design of the Long Term Incentive Plan (“LTI Plan”) for Named Executive Officers (“NEOs”) to include performance based awards. Sixty percent of the awards are performance vested and 40% are time vested. The performance based awards are in the form of restricted stock units (“RSUs”) and are subject to adjustment up or down based upon the Company’s 3-year relative Total Shareholder Return (“TSR”) to the proxy peer group. The awards cliff vest in five years and require an additional two year holding period before the RSUs are delivered in shares of common stock. The Company recorded expenses of approximately $81,000 for the year ended December 31, 2015. In April 2009, the Company adopted a Directors Deferred Compensation Plan. Under the Plan, independent directors may elect to defer all or a portion of their annual retainer fee in the form of restricted stock units. In addition, Directors receive a non-election retainer in the form of restricted stock units. These restricted stock units vest ratably over one year and have dividend rights but no voting rights. In connection with this Plan, the Company recorded expenses of approximately $342,000, $147,000 and $144,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2015
EARNINGS PER SHARE
EARNINGS PER SHARE	13. EARNINGS PER SHARE FASB ASC 260-10-45 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share (“EPS”). The restricted stock awards and restricted stock units granted by the Company contain non-forfeitable rights to dividends and therefore are considered participating securities. The two-class method for calculating basic EPS excludes dividends paid to participating securities and any undistributed earnings attributable to participating securities. Prior period EPS figures have been presented in accordance with this accounting guidance. The following is a reconciliation of earnings per share for December 31, 2015, 2014 and 2013: For the Years Ended December 31, 2014 2014 2013 (In thousands, except per share data) Net Income $ 21,111 $ 13,763 $ 13,093 Less: Dividends paid on and earnings allocated to participating securities (451 ) (319 ) (329 ) Income attributable to common stock $ 20,660 $ 13,444 $ 12,764 Weighted average common shares outstanding, including participating securities 14,792 11,633 9,622 Less: weighted average participating securities (319 ) (278 ) (242 ) Weighted average common shares outstanding 14,473 11,355 9,380 Basic earnings per common share $ 1.43 $ 1.18 $ 1.36 Income attributable to common stock $ 20,660 $ 13,444 $ 12,764 Weighted average common shares outstanding 14,473 11,355 9,380 Weighted average common equivalent shares outstanding 4 — — Weighted average common and equivalent shares outstanding 14,477 11,355 9,380 Diluted earnings per common share $ 1.43 $ 1.18 $ 1.36 There were 0, 39,870 and 45,395 options outstanding at December 31, 2015, 2014 and 2013, respectively that were not included in the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of common stock and were, therefore, antidilutive. The $16.0 million in convertible trust preferred securities outstanding at December 31, 2015, 2014, and 2013 were not included in the computation of diluted earnings per share because the assumed conversion of the trust preferred securities was antidilutive.

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS
COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS	14. COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS In the normal course of business, there are various outstanding commitments and contingent liabilities, such as claims and legal actions, minimum annual rental payments under non-cancelable operating leases, guarantees and commitments to extend credit, which are not reflected in the accompanying consolidated financial statements. No material losses are anticipated as a result of these commitments and contingencies. a) Leases At December 31, 2015, the Company was obligated to make minimum annual rental payments under non-cancelable operating leases for its premises. Projected minimum rentals under existing leases are as follows: Year (In thousands) 2016 $ 6,710 2017 6,621 2018 5,787 2019 5,287 2020 4,638 Thereafter 21,854 Total $ 50,897 Certain leases contain rent escalation clauses which are reflected in the amounts listed above. In addition, certain leases provide for additional payments based upon real estate taxes, interest and other charges. Certain leases contain renewal options which are not reflected. Rental expenses under leases for the years ended December 31, 2015, 2014 and 2013 approximated $5.3 million, $3.4 million, and $2.3 million, respectively, net of subleases in place. b) Loan commitments Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk of credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, often including obtaining collateral at exercise of the commitment. The following represents commitments outstanding: December 31, 2015 2014 (In thousands) Standby letters of credit $ 14,930 $ 1,903 Loan commitments outstanding (1) 46,034 58,930 Unused lines of credit 418,596 248,328 Total commitments outstanding $ 479,560 $ 309,161 (1) Of the $46.0 million of loan commitments outstanding at December 31, 2014, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments. c) Other During 2015, the Bank was required to maintain certain cash balances with the Federal Reserve Bank of New York for reserve and clearing requirements. The required cash balance at December 31, 2015 was $2.7 million. During 2015, the Federal Reserve Bank of New York offered higher interest rates on overnight deposits compared to our correspondent banks. Therefore the Bank invested overnight with the Federal Reserve Bank of New York and the average balance maintained during 2015 was $14.3 million. During 2015, 2014 and 2013, the Bank maintained an overnight line of credit with the Federal Home Loan Bank of New York (“FHLB”). The Bank has the ability to borrow against its unencumbered residential and commercial mortgages and investment securities owned by the Bank. At December 31, 2015, the Bank had aggregate lines of credit of $295.0 million with unaffiliated correspondent banks to provide short-term credit for liquidity requirements. Of these aggregate lines of credit, $275.0 million is available on an unsecured basis. As of December 31, 2015, the Bank had $120.0 million of such borrowings outstanding. In March 2001, the Bank entered into a Master Repurchase Agreement with the FHLB whereby the FHLB agrees to purchase securities from the Bank, upon the Bank’s request, with the simultaneous agreement to sell the same or similar securities back to the Bank at a future date. Securities are limited, under the agreement, to government securities, securities issued, guaranteed or collateralized by any agency or instrumentality of the U.S. Government or any government sponsored enterprise, and non-agency AA and AAA rated mortgage-backed securities. At December 31, 2015, there was $1.1 billion available for transactions under this agreement. The Bank had $50.9 million of securities sold under agreements to repurchase outstanding as of December 31, 2015 (See Note 7).

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2015
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE	15. FAIR VALUE FASB ASC No. 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Assets and Liabilities Measured on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Assets: Available for sale securities U.S. GSE securities $ 62,674 $ 62,674 State and municipal obligations 87,935 87,935 U.S. GSE Residential mortgage-backed securities 200,264 200,264 U.S. GSE Residential collateralized mortgage 317,878 317,878 U.S. GSE Commercial mortgage-backed securities 12,418 12,418 U.S. GSE Commercial collateralized mortgage 64,198 64,198 Other Asset-backed securities 22,371 22,371 Corporate Bonds 32,465 32,465 Total available for sale securities $ 800,203 $ 800,203 Derivatives $ 779 779 Financial Liabilities: Derivatives $ 2,073 $ 2,073 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Assets: Available for sale securities U.S. GSE securities $ 95,425 $ 95,425 State and municipal obligations 63,693 63,693 U.S. GSE Residential mortgage-backed securities 101,425 101,425 U.S. GSE Residential collateralized mortgage 258,599 258,599 U.S. GSE Commercial mortgage-backed securities 2,945 2,945 U.S. GSE Commercial collateralized mortgage 24,082 24,082 Other Asset-backed securities 23,037 23,037 Corporate Bonds 17,978 17,978 Total available for sale securities $ 587,184 $ 587,184 Derivatives $ 280 $ 280 Financial Liabilities: Derivatives $ 1,223 $ 1,223 Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Impaired loans $ 483 $ 483 Other real estate owned 250 250 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Impaired loans $ 558 $ 558 Impaired loans with allocated allowance for loan losses at December 31, 2015, had a carrying amount of $0.5 million, which is made up of the outstanding balance of $0.5 million, net of a valuation allowance of $0.03 million. This resulted in an additional provision for loan losses of $0.03 million that is included in the amount reported on the income statement. Impaired loans with allocated allowance for loan losses at December 31, 2014, had a carrying amount of $0.5 million, which is made up of the outstanding balance of $0.7 million, net of a valuation allowance of $0.2 million. This resulted in an additional provision for loan losses of $0.2 million that is included in the amount reported on the Consolidated Statements of Income. Other real estate owned at December 31, 2015 had a carrying amount of $250,000 and no valuation allowance recorded. There was no Other Real Estate Owned at December 31, 2014. Accordingly, there was no additional provision for loan losses included in the amount reported on the Consolidated Statements of Income. The Company used the following method and assumptions in estimating the fair value of its financial instruments: Cash and Due from Banks and Federal Funds Sold: Carrying amounts approximate fair value, since these instruments are either payable on demand or have short-term maturities. Cash on hand and non-interest due from bank accounts are Level 1 and interest bearing Cash Due from Banks and Federal Funds Sold are Level 2. Securities Available for Sale and Held to Maturity: The estimated fair values are based on independent dealer quotations on nationally recognized securities exchanges, if available (Level 1). For securities where quoted prices are not available, fair value is based on matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Restricted Securities: It is not practicable to determine the fair value of FHLB, ACBB and FRB stock due to restrictions placed on its transferability. Derivatives: Represents an interest rate swap and the estimated fair values are based on valuation models using observable market data as of measurement date (Level 2). Loans: The estimated fair values of real estate mortgage loans and other loans receivable are based on discounted cash flow calculations that use available market benchmarks when establishing discount factors for the types of loans resulting in a Level 3 classification. Exceptions may be made for adjustable rate loans (with resets of one year or less), which would be discounted straight to their rate index plus or minus an appropriate spread. All nonaccrual loans are carried at their current fair value. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price and therefore, while permissible for presentation purposed under ASC 825-10, do not conform to ASC 820-10. Impaired Loans and Other Real Estate Owned: For impaired loans, the Company evaluates the fair value of the loan in accordance with current accounting guidance. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based upon recent appraised values. The fair value of other real estate owned is also evaluated in accordance with current accounting guidance and determined based upon recent appraised values less the estimated cost to sell. 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 independent appraisers to adjust for differences between the comparable sales and income data available. Adjustments may relate to location, square footage, condition, amenities, market rate of leases as well as timing of comparable sales. All appraisals undergo a second review process to insure that the methodology employed and the values derived are accurate. The fair value of the loan is compared to the carrying value to determine if any write-down or specific reserve is required. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Credit Administration department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On a quarterly basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Management also considers the appraisal values for commercial properties associated with current loan origination activity. Collectively, this information is reviewed to help assess current trends in commercial property values. For each collateral dependent impaired loan, management considers information that relates to the type of commercial property to determine if such properties may have appreciated or depreciated in value since the date of the most recent appraisal. Adjustments to fair value are made only when the analysis indicates a probable decline in collateral values. Adjustments made in the appraisal process are not deemed material to the overall financial statements given the level of impaired loans measured at fair value on a nonrecurring basis. Deposits: The estimated fair value of certificates of deposits are based on discounted cash flow calculations that use a replacement cost of funds approach to establishing discount rates for certificates of deposits maturities resulting in a Level 2 classification. Stated value is fair value for all other deposits resulting in a Level 1 classification. Borrowed Funds: The estimated fair value of borrowed funds are based on discounted cash flow calculations that use a replacement cost of funds approach to establishing discount rates for funding maturities resulting in a Level 2 classification. Subordinated Debentures: The estimated fair value is derived using discounted cash flow methodology based on a spread to the London Interbank Offered Rate (“LIBOR”) curve at the time of issuance and assuming the debt was issued at PAR resulting in a Level 3 classification. Junior Subordinated Debentures: The estimated fair value is based on estimates using market data for similarly risk weighted items and takes into consideration the convertible features of the debentures into common stock of the Company which is an unobservable input resulting in a Level 3 classification. Accrued Interest Receivable and Payable: For these short-term instruments, the carrying amount is a reasonable estimate of the fair value resulting in a Level 1 or 2 classification. Off-Balance-Sheet Liabilities: The fair value of off-balance-sheet commitments to extend credit is estimated using fees currently charged to enter into similar agreements. The fair value is immaterial as of December 31, 2015 and December 31, 2014. Fair value estimates are made at specific points in time and are based on existing on-and off-balance sheet financial instruments. Such estimates are generally subjective in nature and dependent upon a number of significant assumptions associated with each financial instrument or group of financial instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows, and relevant available market information. Changes in assumptions could significantly affect the estimates. In addition, fair value estimates do not reflect the value of anticipated future business, premiums or discounts that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, or the tax consequences of realizing gains or losses on the sale of financial instruments. The estimated fair values and recorded carrying values of the Company’s financial instruments are as follows: Fair Value Measurement at December 31, 2015 Using: (In thousands) Carrying Amount Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial Assets: Cash and due from banks $ 79,750 $ 79,750 $ — $ — $ 79,750 Interest bearing deposits with banks 24,408 — 24,408 — 24,408 Securities available for sale 800,203 — 800,203 — 800,203 Securities restricted 24,788 n/a n/a n/a n/a Securities held to maturity 208,351 — 210,003 — 210,003 Loans, net 2,390,030 — — 2,379,171 2,379,171 Derivatives 779 — 779 — 779 Accrued interest receivable 9,270 — 3,228 6,042 9,270 Financial Liabilities: Certificates of deposit 292,855 — 293,368 — 293,368 Demand and other deposits 2,550,770 2,550,770 — — 2,550,770 Federal funds purchased 120,000 120,000 — — 120,000 Federal Home Loan Bank advances 297,507 197,243 100,772 — 298,015 Repurchase agreements 50,891 — 51,480 — 51,480 Subordinated Debentures 78,363 — — 78,830 78,830 Junior Subordinated Debentures 15,878 — — 16,566 16,566 Derivatives 2,073 — 2,073 — 2,073 Accrued interest payable 1,644 93 1,551 — 1,644 Fair Value Measurement at December 31, 2014 Using: (In thousands) Carrying Amount Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial Assets: Cash and due from banks $ 45,109 $ 45,109 $ — $ — $ 45,109 Interest bearing deposits with banks 6,621 — 6,621 — 6,621 Securities available for sale 587,184 — 587,184 — 587,184 Securities restricted 10,037 n/a n/a n/a n/a Securities held to maturity 214,927 — 216,289 — 216,289 Loans, net 1,320,690 — — 1,317,625 1,317,625 Derivatives 280 — 280 — 280 Accrued interest receivable 6,425 — 2,721 3,704 6,425 Financial Liabilities: Certificates of deposit 141,362 — 142,264 — 142,264 Demand and other deposits 1,692,417 1,692,417 — — 1,692,417 Federal funds purchased 75,000 75,000 — — 75,000 Federal Home Loan Bank advances 138,327 98,070 40,165 — 138,235 Repurchase agreements 36,263 — 36,991 — 36,991 Subordinated Debentures — — — — — Junior Subordinated Debentures 16,002 — — 16,528 16,528 Derivatives 1,223 — 1,223 — 1,223 Accrued interest payable 308 77 231 — 308

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Dec. 31, 2015
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	16. REGULATORY CAPITAL REQUIREMENTS 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 result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’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 Bank’s assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classifications also are subject to qualitative judgments by the regulators about components, risk weightings, 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 and Tier 1 capital to risk weighted assets and of Tier 1 capital to average assets. Tier 1 capital, risk weighted assets and average assets are as defined by regulation. The required minimums for the Corporation and Bank are set forth in the table that follows. On January 1, 2015, the Basel III Capital Rules became effective and include transition provisions through January 1, 2019. These rules provide for the following minimum capital to risk-weighted assets ratios as of January 1, 2015: a) 4.5% based upon common equity tier 1 capital ("CET1"); b) 6.0% based upon tier 1 capital; and c) 8.0% based upon total regulatory capital. A minimum leverage ratio (tier 1 capital as a percentage of total average assets) of 4.0% is also required under the Basel III Capital Rules. When fully phased in, the Basel III Capital Rules will additionally require institutions to retain a capital conservation buffer, composed of CET1, of 2.5% above these required minimum capital ratio levels. The capital conservation buffer requirement is being phased in beginning January 1, 2016 at 0.625% of risk-weighted assets and increasing by 0.625% each subsequent January 1, until it reaches 2.5% on January 1, 2019. When the capital conservation buffer is fully phased in on January 1, 2019, the Company and the Bank will effectively have the following minimum capital to risk-weighted assets ratios: a) 7.0% based upon CET1; b) 8.5% based upon tier 1 capital; and c) 10.5% based upon total regulatory capital. The Company and the Bank made the one-time, permanent election to continue to exclude the effects of accumulated other comprehensive income or loss items included in stockholders' equity for the purposes of determining the regulatory capital ratios. As of December 31, 2015, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” the Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. Since that notification, there are no conditions or events that management believes have changed the institution’s category. The following table presents actual capital levels and minimum required levels for the Company and the Bank at December 31, 2015 (under Basel III rules) and December 31, 2014. Basel III Minimum To Be Well Minimum Capital Capitalized Under Prompt As of December 31, 2015 Actual Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common Equity Tier 1 Capital to Risk Weighted Assets: Consolidated $ 249,921 9.3 % $ 121,074 4.5 % n/a n/a Bank 319,351 11.9 121,074 4.5 $ 174,884 6.5 % Total Capital to Risk Weighted Assets: Consolidated 366,393 13.6 215,243 8.0 n/a n/a Bank 340,371 12.7 215,242 8.0 269,053 10.0 Tier 1 Capital to Risk Weighted Assets: Consolidated 265,373 9.9 161,432 4.0 n/a n/a Bank 319,351 11.9 161,432 4.0 215,242 8.0 Tier 1 Capital to Average Assets: Consolidated 265,373 7.6 140,490 4.0 n/a n/a Bank 319,351 9.1 140,492 4.0 175,615 5.0 Basel I Minimum To Be Well Minimum Capital Capitalized Under Prompt As of December 31, 2014 Actual Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common Equity Tier 1 Capital to Risk Weighted Assets: Consolidated n/a n/a n/a n/a n/a n/a Bank n/a n/a n/a n/a n/a n/a Total Capital to Risk Weighted Assets: Consolidated $ 207,340 13.0 % $ 127,445 8.0 % n/a n/a Bank 206,633 13.0 127,427 8.0 $ 159,284 10.0 % Tier 1 Capital to Risk Weighted Assets: Consolidated 189,527 11.9 63,722 4.0 n/a n/a Bank 188,820 11.9 63,714 4.0 95,571 6.0 Tier 1 Capital to Average Assets: Consolidated 189,527 8.4 90,614 4.0 n/a n/a Bank 188,820 8.3 90,617 4.0 113,271 5.0

PARENT COMPANY ONLY CONDENSED F

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2015
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION	17. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of Bridge Bancorp, Inc. (Parent Company only) follows: Condensed Balance Sheets December 31, 2015 2014 (In thousands) ASSETS Cash and cash equivalents $ 25,475 $ 610 Other assets 16 89 Investment in the Bank 411,106 190,292 Total Assets $ 436,597 $ 190,991 LIABILITIES AND STOCKHOLDERS’ EQUITY Subordinated debentures $ 78,363 $ — Junior subordinated debentures 15,878 15,873 Other liabilities 1,228 — Total Liabilities 95,469 15,873 Total Stockholders’ Equity 341,128 175,118 Total Liabilities and Stockholders’ Equity $ 436,597 $ 190,991 Condensed Statements of Income Years ended December 31, 2015 2014 2013 (In thousands) Dividends from the Bank $ 10,000 $ — $ — Interest expense 2,626 1,365 1,365 Non-interest expense 73 86 69 Income (loss) before income taxes and equity in undistributed 7,301 (1,451 ) (1,434 ) Income tax benefit (933 ) (463 ) (483 ) Income (loss) before equity in undistributed earnings of the Bank 8,234 (988 ) (951 ) Equity in undistributed earnings of the Bank 12,877 14,751 14,044 Net income $ 21,111 $ 13,763 $ 13,093 Condensed Statements of Cash Flows Years ended December 31, 2015 2014 2013 (In thousands) Cash flows from operating activities: Net income $ 21,111 $ 13,763 $ 13,093 Adjustments to reconcile net income to net cash (used in) operating activities: Equity in undistributed earnings of the Bank (12,877 ) (14,751 ) (14,044 ) Amortization 44 5 5 Decrease (increase) in other assets 72 76 (105 ) Increase (decrease) in other liabilities 1,228 (48 ) (5 ) Net cash provided by (used in) operating activities 9,578 (955 ) (1,056 ) Cash flows from investing activities: Investment in the Bank (50,000 ) (24,000 ) (6,000 ) Cash in lieu of fractional shares for business acquisition — (1 ) — Net cash used in investing activities (50,000 ) (24,001 ) (6,000 ) Cash flows from financing activities: Net proceeds from issuance of subordinated debentures 78,324 — — Repayment of acquired unsecured debt — (1,450 ) — Net proceeds from issuance of common stock 779 631 46,237 Net proceeds from exercise of stock options 80 7 4 Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards (228 ) (173 ) (291 ) Excess tax benefit from share based compensation 50 36 21 Cash dividends paid (13,415 ) (10,657 ) (6,754 ) Other, net (303 ) (192 ) — Net cash provided by (used in) financing activities 65,287 (11,798 ) 39,217 Net increase (decrease) in cash and cash equivalents 24,865 (36,754 ) 32,161 Cash and cash equivalents at beginning of year 610 37,364 5,203 Cash and cash equivalents at end of year $ 25,475 $ 610 $ 37,364

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2015
OTHER COMPREHENSIVE INCOME (LOSS)
OTHER COMPREHENSIVE INCOME (LOSS)	18. OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) components and related income tax effects were as follows: Years Ended December 31, 2015 2014 2013 (In thousands) Unrealized holding (losses) gains on available for sale securities $ (2,489 ) $ 13,315 $ (23,771 ) Reclassification adjustment for losses (gains) realized in income 8 1,090 (659 ) Income tax effect 1,047 (5,718 ) 9,698 Net change in unrealized (losses) gains on available for sale securities (1,434 ) 8,687 (14,732 ) Unrealized net gain (loss) arising during the period 196 (5,529 ) 2,871 Reclassification adjustment for amortization realized in income 358 (23 ) 291 Income tax effect (174 ) 2,204 (1,255 ) Net change in post-retirement obligation 380 (3,348 ) 1,907 Change in fair value of derivatives used for cash flow hedges (1,008 ) (1,249 ) (259 ) Reclassification adjustment for losses realized in income 657 470 271 Income tax effect 150 309 (5 ) Net change in unrealized (loss) gain on cash flow hedges (201 ) (470 ) 7 Total $ (1,255 ) $ 4,869 $ (12,818 ) The following is a summary of the accumulated other comprehensive income balances, net of income tax: Details about Accumulated Other Comprehensive Income Balance as of January 1, 2015 Current Period Change Balance as of December 31, 2015 (In thousands) Unrealized (losses) gains on available for sale securities $ (3,307 ) $ (1,434 ) $ (4,741 ) Unrealized (losses) gains on pension benefits (4,491 ) 380 (4,111 ) Unrealized (losses) gains on cash flow hedges (569 ) (201 ) (770 ) Total $ (8,367 ) $ (1,255 ) $ (9,622 ) The following represents the reclassifications out of accumulated other comprehensive income: Twelve Months Ended December 31, Details about accumulated Other Comprehensive Income 2015 2014 2013 Affected Line Item in the Consolidated Statements of Income (In thousands) Realized (losses) gains on sale of available for sale securities $ (8 ) $ (1,090 ) $ 659 Net securities losses Income tax benefit (expense) 3 433 (262 ) Income tax expense Net of income tax (5 ) (657 ) 397 Amortization of defined benefit pension plan and the defined benefit plan component of the SERP: Prior service credit $ 77 $ 77 $ 77 Salaries and employee benefits Transition obligation (27 ) (27 ) (43 ) Salaries and employee benefits Actuarial losses (408 ) (27 ) (325 ) Salaries and employee benefits (358 ) 23 (291 ) Income tax benefit (expense) 145 (9 ) 116 Income tax expense Net of income tax (213 ) 14 (175 ) Realized losses on cash flow hedges $ (657 ) $ (470 ) $ (271 ) Interest Expense Income tax effect 266 187 108 Income tax expense Net of income tax (391 ) (283 ) (163 ) Total reclassifications, net of income tax $ (609 ) $ (926 ) $ 59

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
QUARTERLY FINANCIAL DATA (UNAUDITED)
QUARTERLY FINANCIAL DATA (UNAUDITED)	19. QUARTERLY FINANCIAL DATA (UNAUDITED) Selected Consolidated Quarterly Financial Data 2015 Quarter Ended, March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Interest income $ 20,507 $ 22,380 $ 31,744 $ 31,609 Interest expense 1,812 1,953 2,659 3,705 Net interest income 18,695 20,427 29,085 27,904 Provision for loan losses 800 700 1,500 1,000 Net interest income after provision for loan losses 17,895 19,727 27,585 26,904 Non-interest income 2,804 2,527 3,926 3,411 Non-interest expenses 13,310 (2) 22,034 (3) 19,373 (4) 18,173 (5) Income before income taxes 7,389 220 12,138 12,142 Income tax expense 2,626 (243 ) 4,248 4,147 Net income $ 4,763 $ 463 $ 7,890 $ 7,995 Basic earnings per share $ 0.41 $ 0.04 $ 0.45 $ 0.46 Diluted earnings per share $ 0.41 $ 0.04 $ 0.45 $ 0.46 2014 Quarter Ended, March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Interest income $ 17,358 $ 18,730 $ 19,219 $ 19,603 Interest expense 1,822 1,915 1,857 1,866 Net interest income 15,536 16,815 17,362 17,737 Provision for loan losses 700 500 500 500 Net interest income after provision for loan losses 14,836 16,315 16,862 17,237 Non-interest income 802 (1) 2,292 2,562 2,510 Non-interest expenses 15,013 (2) 12,124 (3) 12,094 13,183 (5) Income before income taxes 625 6,483 7,330 6,564 Income tax expense 219 2,165 2,459 2,396 Net income $ 406 $ 4,318 $ 4,871 $ 4,168 Basic earnings per share $ 0.04 $ 0.37 $ 0.42 $ 0.36 Diluted earnings per share $ 0.04 $ 0.37 $ 0.42 $ 0.36 (1) 2014 amount includes net securities losses of $1.1 million. (2) 2015 amount includes costs associated with the CNB acquisition of $0.2 million. 2014 amount includes costs associated with the FNBNY acquisition and branch restructuring of $4.4 million. (3) 2015 amount includes costs associated with the CNB acquisition of $8.2 million. 2014 amount includes costs associated with the FNBNY acquisition of $0.3 million. (4) 2015 amount includes costs associated with the CNB acquisition of $0.9 million. (5) 2015 amount includes costs associated with the CNB acquisition of $0.5 million. 2014 amount includes costs associated with the CNB acquisition of $0.8 million

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
BUSINESS COMBINATIONS	20. BUSINESS COMBINATIONS On June 19, 2015, the Company acquired Community National Bank (“CNB”) at a purchase price of $157.5 million, issued an aggregate of 5.647 million Bridge Bancorp common shares in exchange for all the issued and outstanding common stock of CNB and recorded goodwill of $89.0 million, which is not deductible for tax purposes. At acquisition, CNB had total acquired assets on a fair value basis of $899.9 million, with loans of $734.0 million, investment securities of $90.1 million and deposits of $786.9 million. The transaction expanded the Company’s geographic footprint across Long Island including Nassau County, Queens and into New York City. It complements the Bank’s existing branch network and enhances asset generation capabilities. The expanded branch network allows the Bank to serve a greater portion of the Long Island and metropolitan marketplace through a network of 40 branches. The acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the assets acquired and liabilities assumed were recorded at their respective acquisition date fair values, and identifiable intangible assets were recorded at fair value. The operating results of the Company for the year ended December 31, 2015 include the operating results of CNB since the acquisition date of June 19, 2015. The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed on June 19, 2015: (In thousands) As Initially Reported Measurement Period Adjustments As Adjusted (In thousands, except per share amounts) Cash and due from banks $ 24,628 $ — $ 24,628 Securities 90,109 — 90,109 Loans 736,348 (2,362 ) 733,986 Bank Owned Life Insurance 21,445 — 21,445 Premises and equipment 6,398 — 6,398 Other intangible assets 6,698 — 6,698 Other assets 14,484 2,182 16,666 Total Assets Acquired $ 900,110 $ (180 ) $ 899,930 Deposits $ 786,853 — 786,853 Federal Home Loan Bank term advances 35,581 — 35,581 Other liabilities and accrued expenses 5,647 3,341 8,988 Total Liabilities Assumed $ 828,081 $ 3,341 $ 831,422 Net Assets Acquired 72,029 (3,521 ) 68,508 Consideration Paid 157,503 — 157,503 Goodwill Recorded on Acquisition $ 85,474 $ 3,521 $ 88,995 The above fair values are final with the exception of loans, premises and equipment, other assets, other liabilities and accrued expenses which are subject to adjustment as the Company finalizes fair value assessments. In accordance with FASB ASC 805-10 (Subtopic 25-15), the Company has up to one year from date of acquisition to complete this assessment. The following table presents selected unaudited pro forma financial information reflecting the Merger assuming it was completed as of January 1, 2015 and January 1, 2014. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies had the Merger actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full fiscal year period. The unaudited pro forma information, for the years ended December 31, 2015 and 2014, set forth below reflects the adjustments related to estimated amortization and accretion of purchase accounting fair value adjustments related to interest income on loans and investments, interest expense on time deposits and borrowings, unfavorable leases, SBA loan servicing rights, and core deposit and other intangibles. In the table below, merger-related expenses of $11.8 million and $1.3 million were excluded from pro forma non-interest expenses for the year ended December 31, 2015 and 2014, respectively. Additionally, the unaudited pro forma information does not reflect management’s estimate of any revenue enhancement opportunities or anticipated cost savings: Pro Forma for the Year Unaudited Ended December 31, (In thousands, except per share amounts) 2015 2014 Net Interest Income $ 129,538 $ 102,400 Net income $ 35,856 $ 20,089 Basic earnings per share $ 2.06 $ 1.90 Diluted earnings per share $ 2.06 $ 1.90 On February 14, 2014, the Company acquired FNBNY resulting in the addition of total acquired assets on a fair value basis of $211.9 million, with loans of $89.7 million, investment securities of $103.2 million and deposits of $169.9 million. The acquisition was accounted for under the acquisition method of accounting in accordance with FASB ASC 805, “Business Combinations.” Accordingly, the assets acquired and liabilities assumed were recorded at their respective acquisition date fair values, and identifiable intangible assets were recorded at fair value. The operating results of the Company include the operating results of FNBNY since the acquisition date of February 14, 2014. The following table summarizes the finalized fair value of the assets acquired and liabilities assumed: (In thousands) February 14, 2014 (In thousands, except per share amounts) Cash and due from banks $ 1,883 Interest earning deposits with banks 1,044 Securities 103,192 Loans 89,714 Premises and equipment 1,787 Core deposit intangible 951 Other assets 13,378 Total Assets Acquired $ 211,949 Deposits 169,873 Federal Home Loan Bank term advances 39,282 Unsecured debt 1,450 Other liabilities and accrued expenses 2,620 Total Liabilities Assumed $ 213,225 Net Assets Acquired/(Liabilities Assumed) (1,276 ) Consideration Paid 6,140 Goodwill Recorded on Acquisition $ 7,416

PRESENTATION OF DEBT ISSUANCE C

PRESENTATION OF DEBT ISSUANCE COSTS	12 Months Ended
	Dec. 31, 2015
Presentation Of Debt Issuance Costs [Abstract]
PRESENTATION OF DEBT ISSUANCE COSTS	21. PRESENTATION OF DEBT ISSUANCE COSTS During the third quarter of 2015, the Company adopted Accounting Standards Update (“ASU”) No. 2015-03 “Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability. This ASU is required to be applied retrospectively to all periods presented. The following table summarizes the impact of retrospective application to the balance sheet for the year ended December 31, 2014: (in thousands) December 31, 2014 Other assets As previously reported $ 19,373 As reported under the new guidance 19,244 Total assets As previously reported $ 2,288,653 As reported under the new guidance 2,288,524 Junior subordinated debentures As previously reported $ 16,002 As reported under the new guidance 15,873 Total liabilities As previously reported $ 2,113,535 As reported under the new guidance 2,113,406

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Financial Statement Presentation	a) Basis of Financial Statement Presentation The accompanying Consolidated Financial Statements are prepared on the accrual basis of accounting and include the accounts of the Company and its wholly-owned subsidiary, the Bank. All material intercompany transactions and balances have been eliminated. The preparation of financial statements, in conformity with U.S. generally accepted accounting principles, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of each consolidated balance sheet and the related consolidated statement of income for the years then ended. Such estimates are subject to change in the future as additional information becomes available or previously existing circumstances are modified. Actual future results could differ significantly from those estimates.
Cash and Cash Equivalents	b) Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest earning deposits with banks, and federal funds sold, which mature overnight. Cash flows are reported net for customer loan and deposit transactions, overnight borrowings and federal funds purchased, Federal Home Loan Bank advances, and repurchase agreements.
Securities	c) Securities Debt and equity securities are classified in one of the following categories: (i) “held to maturity” (management has a positive intent and ability to hold to maturity), which are reported at amortized cost, (ii) “available for sale” (all other debt and marketable equity securities), which are reported at fair value, with unrealized gains and losses reported net of tax, as accumulated other comprehensive income, a separate component of stockholders’ equity, and (iii) “restricted” which represents FHLB, FRB and bankers’ banks stock which are reported at cost. Premiums and discounts on securities are amortized and accreted to interest income over the estimated life of the respective securities using the interest method. Gains and losses on the sales of securities are recognized upon realization based on the specific identification method. Declines in the fair value of securities below their cost that are other than temporary are reflected as realized losses. In estimating other-than-temporary impairment (“OTTI”), management considers many factors including: (1) the length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the security or more than likely than not will be required to sell the security before its anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. The assessment of whether any other than temporary decline exists may involve a high degree of subjectivity and judgment and is based on the information available to management at a point in time.
Federal Home Loan Bank (FHLB) Stock	d) Federal Home Loan Bank (FHLB) Stock The Bank is a member of the FHLB system. Members are required to own a particular amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost and classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Loans, Loan Interest Income Recognition and Loans Held for Sale	e) Loans, Loan Interest Income Recognition and Loans Held for Sale Loans are stated at the principal amount outstanding, net of partial charge-offs, deferred origination costs and fees and purchase premiums and discounts. Loan origination and commitment fees and certain direct and indirect costs incurred in connection with loan originations are deferred and amortized to income over the life of the related loans as an adjustment to yield. When a loan prepays, the remaining unamortized net deferred origination fees or costs are recognized in the current year. Interest on loans is credited to income based on the principal outstanding during the period. Past due status is based on the contractual terms of the loan. Loans that are 90 days past due are automatically placed on nonaccrual and previously accrued interest is reversed and charged against interest income. However, if the loan is in the process of collection and the Bank has reasonable assurance that the loan will be fully collectible based upon individual loan evaluation assessing such factors as collateral and collectibility, accrued interest will be recognized as earned. If a payment is received when a loan is nonaccrual or a troubled debt restructuring loan is nonaccrual, the payment is applied to the principal balance. A performing troubled debt restructuring loan is on accrual status in line with the modified terms. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans for which the terms have been modified as a concession to the borrower due to the borrower experiencing financial difficulties are considered troubled debt restructurings and are classified as impaired. Loans considered to be troubled debt restructurings can be categorized as nonaccrual or performing. The impairment of a loan is measured at the value of expected future cash flows using the loan’s effective interest rate, or at the loan’s observable market price or the fair value of the collateral less costs to sell if the loan is collateral dependent. Generally, the Bank measures impairment of such loans by reference to the fair value of the collateral less costs to sell. Loans that experience minor payment delays and payment shortfall generally are not classified as impaired. Loans over $50,000 are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less costs to sell if repayment is expected solely from the collateral. Loans with balances less than $50,000 are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. Loans that were acquired through the acquisition of Community National Bank on June 19, 2015 and First National Bank of New York on February 14, 2014, were initially recorded at fair value with no carryover of the related allowance for loan losses. After acquisition, losses are recognized through the allowance for loan losses. Determining fair value of the loans involves estimating the amount and timing of expected principal and interest cash flows to be collected on the loans and discounting those cash flows at a market interest rate. Some of the loans at time of acquisition showed evidence of credit deterioration since origination. These loans are considered purchased credit impaired loans. For purchased credit impaired loans, the excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. The nonaccretable discount represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent increases to the expected cash flows result in the reversal of a corresponding amount of the nonaccretable discount which is then reclassified as accretable discount and recognized into interest income over the remaining life of the loan using the interest method. Subsequent decreases to the expected cash flows require us to evaluate the need for an addition to the allowance for loan losses. Purchased credit impaired loans that met the criteria for nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if management can reasonably estimate the timing and amount of the expected cash flows on such loans and if management expects to fully collect the new carrying value of the loans. As such, management may no longer consider the loans to be nonaccrual or nonperforming and may accrue interest on these loans, including the impact of any accretable discount. Loans held for sale are carried at the lower of aggregate cost, or estimated fair value. Any subsequent declines in fair value below the initial carrying value are recorded as a valuation allowance, which is established through a charge to earnings. Unless otherwise noted, the above policy is applied consistently to all loan classes.
Allowance for Loan Losses	f) Allowance for Loan Losses The allowance for loan losses is a valuation allowance for probable incurred credit losses. The Bank monitors its entire loan portfolio on a regular basis, with consideration given to loan growth, detailed analyses of classified loans, repayment patterns, delinquency status, past loss experience, current economic conditions, and various types of concentrations of credit. Additionally, the Bank considers its credit administration and asset management philosophies and procedures and concentrations in the portfolio when determining the allowances for each pool. The Bank evaluates and considers the credit’s risk rating which includes management’s evaluation of: cash flow, collateral, guarantor support, financial disclosures, industry trends and strength of borrowers’ management, the impact that economic and market conditions may have on the portfolio as well as known and inherent risks in the portfolio. Finally, the Bank evaluates and considers the allowance ratios and coverage percentages of both peer group and regulatory agency data. These evaluations are inherently subjective because, even though they are based on objective data, it is management’s interpretation of that data that determines the amount of the appropriate allowance. If the evaluations prove to be incorrect, the allowance for loan losses may not be sufficient to cover probable incurred losses in the loan portfolio, resulting in additions to the allowance for loan losses. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Additions to the allowance are charged to expense and realized losses, net of recoveries, are charged to the allowance. Based on the determination of management and the Credit Risk Committee, the overall level of allowance is periodically adjusted to account for the inherent and specific risks within the entire portfolio. Based on the Credit Risk Committee’s review of the classified loans and the overall allowance levels as they relate to the entire loan portfolio at December 31, 2015, management believes the allowance for loan losses is adequate. A loan is considered a potential charge-off when it is in default of either principal or interest for a period of 90, 120 or 180 days, depending upon the loan type, as of the end of the prior month. In addition to delinquency criteria, other triggering events may include, but are not limited to, notice of bankruptcy by the borrower or guarantor, death of the borrower, and deficiency balance from the sale of collateral. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based on changes in conditions. In addition, various regulatory agencies, as an integral part of the examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to, or charge-offs against, the allowance based on their judgment about information available to them at the time of their examination. Refer to Note 3 for further details. Unless otherwise noted, the above policy is applied consistently to all loan segments.
Premises and Equipment	g) Premises and Equipment Buildings, furniture and fixtures and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method using a useful life of fifty years for buildings and a range of two to ten years for equipment, computer hardware and software, and furniture and fixtures. Leasehold improvements are amortized over the lives of the respective leases or the service lives of the improvements, whichever is shorter. Land is recorded at cost. Improvements and major repairs are capitalized, while the cost of ordinary maintenance, repairs and minor improvements are charged to expense.
Bank-Owned Life Insurance	h) Bank-Owned Life Insurance The Bank is the owner and beneficiary of life insurance policies on certain employees. Bank-owned life insurance (“BOLI”) is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Other Real Estate Owned	i) Other Real Estate Owned Real estate properties acquired through, or in lieu of, foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are charged to expense as incurred.
Goodwill and other Intangible Assets	j) Goodwill and Other Intangible Assets Goodwill resulting from business combinations is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. The Company has selected November 30 th Other intangible assets include core deposit intangible assets and a non-compete intangible arising from whole bank acquisitions. They are amortized on an accelerated method over their estimated useful lives of ten years and two years, respectively. Other intangible assets also include servicing rights which result from the sale of Small Business Administration (“SBA”) loans with servicing rights retained. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. Servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing assets totaled $893,000 at December 31, 2015. There were no servicing assets at December 31, 2014.
Loan Commitments and Related Financial Instruments	k) Loan Commitments and Related Financial Instruments Financial instruments include off-balance sheet credit instruments, such as unused lines of credit, commitments to make loans and commercial letters of credit, issued to meet customer-financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded on the balance sheet when they are funded.
Derivatives	l) Derivatives The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. A cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Income Taxes	m) Income Taxes The Company follows the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities, computed using enacted tax rates. Deferred tax assets are recognized if it is more likely than not that a future benefit will be realized. It is management’s position, as currently supported by the facts and circumstances, that no valuation allowance is necessary against any of the Company’s deferred tax assets. In accordance with FASB ASC 740, Accounting for Uncertainty in Income axes The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The Company did not have any amounts accrued for interest and penalties at December 31, 2015 and December 31, 2014, respectively.
Treasury Stock	n) Treasury Stock Repurchases of common stock are recorded as treasury stock at cost. Treasury stock is reissued using the first in, first out method.
Earnings Per Share	o) Earnings Per Share Earnings per share is calculated in accordance with FASB ASC 260-10, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities”
Dividends	p) Dividends Cash available for distribution of dividends to stockholders of the Company is primarily derived from cash and cash equivalents of the Company and dividends paid by the Bank to the Company. Prior regulatory approval is required if the total of all dividends declared by the Bank in any calendar year exceeds the total of the Bank’s net income of that year combined with its retained net income of the preceding two years. Dividends from the Bank to the Company at January 1, 2016 are limited to $27.6 million which represents the Bank’s net retained earnings from the previous two years. During 2015, the Bank paid dividends of $10.0 million to the Company.
Segment Reporting	q) Segment Reporting While management monitors the revenue streams of the various products and services, the identifiable segments are not material and operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.
Stock Based Compensation Plans	r) Stock Based Compensation Plans Stock based compensation awards are recorded in accordance with FASB ASC No. 718 and 505, “ Accounting for Stock-Based Compensation”
Comprehensive Income	s) Comprehensive Income Comprehensive income includes net income and all other changes in equity during a period, except those resulting from investments by owners and distributions to owners. Other comprehensive income includes revenues, expenses, gains and losses that under generally accepted accounting principles are included in comprehensive income but excluded from net income. Other comprehensive income and accumulated other comprehensive income are reported net of deferred income taxes. Accumulated other comprehensive income for the Company includes unrealized holding gains or losses on available for sale securities, unrealized gains or losses on cash flow hedges and changes in the funded status of the pension liability. FASB ASC 715-30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension”
Fair Value of Financial Instruments	t) Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
New Accounting Standards	u) New Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases – (Topic 842). ASU 2016-02 was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. ASU 2016-02 will require lessees to recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2019. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments in this Update also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this Update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this update become effective for annual periods and interim periods within those periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements.
Reclassifications	v) Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current period presentation.

SECURITIES (Tables)

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
SECURITIES
Summary of amortized cost and fair value of the available for sale and held to maturity	December 31, 2015 2014 (In thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for sale: U.S. GSE securities $ 63,238 $ — $ (564 ) $ 62,674 $ 97,560 $ 4 $ (2,139 ) $ 95,425 State and municipal obligations 87,830 427 (322 ) 87,935 63,583 318 (208 ) 63,693 U.S. GSE residential mortgage-backed securities 201,297 237 (1,270 ) 200,264 100,931 534 (40 ) 101,425 U.S. GSE residential collateralized mortgage obligations 321,253 513 (3,888 ) 317,878 261,256 310 (2,967 ) 258,599 U.S. GSE commercial mortgage-backed securities 12,491 7 (80 ) 12,418 3,016 — (71 ) 2,945 U.S. GSE commercial collateralized mortgage obligations 64,809 9 (620 ) 64,198 24,179 44 (141 ) 24,082 Other asset backed securities 24,250 — (1,879 ) 22,371 24,190 — (1,153 ) 23,037 Corporate Bonds 33,000 — (535 ) 32,465 17,952 161 (135 ) 17,978 Total available for sale 808,168 1,193 (9,158 ) 800,203 592,667 1,371 (6,854 ) 587,184 Held to maturity: U.S. GSE securities 7,466 1 — 7,467 11,283 135 (41 ) 11,377 State and municipal obligations 64,878 1,715 (113 ) 66,480 64,864 1,658 (98 ) 66,424 U.S. GSE residential mortgage-backed securities 7,609 — (106 ) 7,503 6,667 — (97 ) 6,570 U.S. GSE residential collateralized mortgage obligations 60,933 617 (498 ) 61,052 59,539 507 (862 ) 59,184 U.S. GSE commercial mortgage-backed securities 23,056 210 (313 ) 22,953 13,213 233 (26 ) 13,420 U.S. GSE commercial collateralized mortgage obligations 33,409 282 (185 ) 33,506 36,413 267 (431 ) 36,249 Corporate Bonds 11,000 42 — 11,042 22,948 139 (22 ) 23,065 Total held to maturity 208,351 2,867 (1,215 ) 210,003 214,927 2,939 (1,577 ) 216,289 Total securities $ 1,016,519 $ 4,060 $ (10,373 ) $ 1,010,206 $ 807,594 $ 4,310 $ (8,431 ) $ 803,473
Securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months	December 31, 2015 2014 Less than 12 months Greater than 12 months Less than 12 months Greater than 12 months (In thousands) Fair Value Unrealized losses Fair Value Unrealized losses Fair Value Unrealized losses Fair Value Unrealized losses Available for sale: U.S. GSE securities $ 37,759 $ 235 $ 24,914 $ 329 $ 4,991 $ 8 $ 90,233 $ 2,131 State and municipal obligations 39,621 298 5,118 24 12,330 79 14,592 129 U.S. GSE residential mortgage-backed securities 136,025 1,224 1,510 46 — — 1,554 40 U.S. GSE residential collateralized mortgage obligations 187,543 1,781 66,830 2,107 60,126 349 122,179 2,618 U.S. GSE commercial mortgage-backed securities 8,594 80 — — — — 2,944 71 U.S. GSE commercial collateralized mortgage obligations 51,178 503 10,034 117 13,830 108 4,636 33 Other asset backed securities — — 22,371 1,879 23,038 1,153 — — Corporate Bonds 27,640 360 4,825 175 9,865 135 — — Total available for sale 488,360 4,481 135,602 4,677 124,180 1,832 236,138 5,022 Held to maturity: U.S. GSE securities — — — — — — 7,414 41 State and municipal obligations 18,375 113 — — 11,343 97 202 1 U.S. GSE residential mortgage-backed securities 7,503 106 — — — — 6,569 97 U.S. GSE residential collateralized mortgage obligations 15,918 149 15,679 349 10,422 46 30,413 816 U.S. GSE commercial mortgage-backed securities 13,982 313 — — — — 4,188 26 U.S. GSE commercial collateralized mortgage obligations 7,912 8 3,813 177 14,392 73 8,611 358 Corporate Bonds — — — — 3,978 22 — — Total held to maturity $ 63,690 $ 689 $ 19,492 $ 526 $ 40,135 $ 238 $ 57,397 $ 1,339
Summary of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio	December 31, 2015 Within One Year After One But Within Five Years After Five But Within Ten Years After Ten Years Total (In thousands) Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Fair Value Amount Amortized Cost Amount Available for sale: U.S. GSE securities $ — $ — $ 33,747 $ 33,990 $ 28,927 $ 29,248 $ — $ — $ 62,674 $ 63,238 State and municipal obligations 4,801 4,785 46,591 46,696 27,692 27,478 8,851 8,871 87,935 87,830 U.S. GSE residential mortgage-backed securities — — — — 14,369 14,441 185,895 186,856 200,264 201,297 U.S. GSE residential collateralized mortgage obligations — — — — 4,227 4,242 313,651 317,011 317,878 321,253 U.S. GSE commercial mortgage-backed securities — — 5,898 5,925 6,520 6,566 — — 12,418 12,491 U.S. GSE commercial collateralized mortgage obligations — — — — 5,968 5,974 58,230 58,835 64,198 64,809 Other Asset backed securities — — — — — — 22,371 24,250 22,371 24,250 Corporate Bonds 1,000 1,000 — — 31,465 32,000 — — 32,465 33,000 Total available for sale 5,801 5,785 86,236 86,611 119,168 119,949 588,998 595,823 800,203 808,168 Held to maturity: U.S. GSE securities — — 7,467 7,466 — — — — 7,467 7,466 State and municipal obligations 4,864 4,859 16,474 16,384 39,098 37,616 6,044 6,019 66,480 64,878 U.S. GSE residential mortgage-backed securities — — 5,032 5,080 14,685 14,841 3,236 3,135 22,953 23,056 U.S. GSE residential collateralized mortgage obligations — — — — 1,536 1,494 59,516 59,439 61,052 60,933 U.S. GSE commercial mortgage-backed securities — — — — — — 7,503 7,609 7,503 7,609 U.S. GSE commercial collateralized mortgage obligations — — — — — — 33,506 33,409 33,506 33,409 Corporate Bonds — — 11,042 11,000 — — — — 11,042 11,000 Total held to maturity 4,864 4,859 40,015 39,930 55,319 53,951 109,805 109,611 210,003 208,351 Total securities $ 10,665 $ 10,644 $ 126,251 $ 126,541 $ 174,487 $ 173,900 $ 698,803 $ 705,434 $ 1,010,206 $ 1,016,519

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2015
LOANS
Schedule of the major classifications of loans	December 31, 2015 2014 (In thousands) Commercial real estate mortgage loans $ 1,053,399 $ 595,397 Multi-family mortgage loans 350,793 218,985 Residential real estate mortgage loans 392,815 156,156 Commercial, financial and agricultural loans 501,766 291,743 Real estate construction and land loans 91,153 63,556 Installment/consumer loans 17,596 10,124 Total loans 2,407,522 1,335,961 Net deferred loan costs and fees 3,252 2,366 2,410,774 1,338,327 Allowance for loan losses (20,744 ) (17,637 ) Net loans $ 2,390,030 $ 1,320,690
Schedule of changes in the allowance for loan losses	December 31, 2015 2014 2013 (In thousands) Allowance for loan losses balance at beginning of period $ 17,637 $ 16,001 $ 14,439 Charge-offs (1,128 ) (824 ) (916 ) Recoveries 235 260 128 Net charge-offs (893 ) (564 ) (788 ) Provision for loan losses charged to operations 4,000 2,200 2,350 Balance at end of period $ 20,744 $ 17,637 $ 16,001
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method	December 31, 2015 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 6,994 $ 2,670 $ 2,208 $ 4,526 $ 1,104 $ 135 $ 17,637 Charge-offs (50 ) — (249 ) (827 ) — (2 ) (1,128 ) Recoveries — — 79 149 — 7 235 Provision 906 1,538 77 1,557 (74 ) (4 ) 4,000 Ending balance $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Ending balance: individually evaluated for impairment $ 20 $ — $ — $ 9 $ — $ — $ 29 Ending balance: collectively evaluated for impairment $ 7,830 $ 4,208 $ 2,115 $ 5,396 $ 1,030 $ 136 $ 20,715 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 1,053,399 $ 350,793 $ 392,815 $ 501,766 $ 91,153 $ 17,596 $ 2,407,522 Ending balance: individually evaluated for impairment $ 1,629 $ — $ 672 $ 290 $ — $ — $ 2,591 Ending balance: collectively evaluated for impairment $ 1,051,135 $ 347,054 $ 390,876 $ 495,045 $ 91,153 $ 17,596 $ 2,392,859 Ending balance: loans acquired with deteriorated credit quality (1) $ 635 $ 3,739 $ 1,267 $ 6,431 $ — $ — $ 12,072 (1) December 31, 2014 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 6,279 $ 1,597 $ 2,712 $ 4,006 $ 1,206 $ 201 $ 16,001 Charge-offs (461 ) — (257 ) (104 ) — (2 ) (824 ) Recoveries — — 170 87 — 3 260 Provision 1,176 1,073 (417 ) 537 (102 ) (67 ) 2,200 Ending balance $ 6,994 $ 2,670 $ 2,208 $ 4,526 $ 1,104 $ 135 $ 17,637 Ending balance: individually evaluated for impairment $ 23 $ — $ 72 $ 79 $ — $ — $ 174 Ending balance: collectively evaluated for impairment $ 6,971 $ 2,670 $ 2,136 $ 4,447 $ 1,104 $ 135 $ 17,463 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 595,397 $ 218,985 $ 156,156 $ 291,743 $ 63,556 $ 10,124 $ 1,335,961 Ending balance: individually evaluated for impairment $ 5,136 $ — $ 383 $ 682 $ — $ — $ 6,201 Ending balance: collectively evaluated for impairment $ 582,946 $ 218,985 $ 154,897 $ 286,368 $ 63,556 $ 10,124 $ 1,316,876 Ending balance: loans acquired with deteriorated credit quality (1) $ 7,315 $ — $ 876 $ 4,693 $ — $ — $ 12,884 (1) December 31, 2013 Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Financial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total (In thousands) Allowance for Loan Losses Beginning balance $ 4,445 $ 1,239 $ 2,803 $ 4,349 $ 1,375 $ 228 $ 14,439 Charge-offs — — (420 ) (420 ) (23 ) (53 ) (916 ) Recoveries — — 34 87 2 5 128 Provision 1,834 358 295 (10 ) (148 ) 21 2,350 Ending balance $ 6,279 $ 1,597 $ 2,712 $ 4,006 $ 1,206 $ 201 $ 16,001 Ending balance: individually evaluated for impairment $ 116 $ — $ 122 $ — $ — $ — $ 238 Ending balance: collectively evaluated for impairment $ 6,163 $ 1,597 $ 2,590 $ 4,006 $ 1,206 $ 201 $ 15,763 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ — $ — $ — $ — $ — Loans $ 484,900 $ 107,488 $ 153,417 $ 209,452 $ 46,981 $ 9,287 $ 1,011,525 Ending balance: individually evaluated for impairment $ 5,950 $ — $ 2,382 $ 526 $ — $ — $ 8,858 Ending balance: collectively evaluated for impairment $ 478,129 $ 107,488 $ 151,035 $ 208,677 $ 46,641 $ 9,287 $ 1,001,257 Ending balance: loans acquired with deteriorated credit quality (1) $ 821 $ — $ — $ 249 $ 340 $ — $ 1,410 (1) Includes loans acquired on May 27, 2011 from HSB
Schedule of loans by class categorized by internally assigned credit risk grades	Grades: December 31, 2015 Pass Special Mention Substandard Doubtful Total (In thousands) Commercial real estate: Owner occupied $ 465,967 $ 3,239 $ 2,115 $ — $ 471,321 Non-owner occupied 573,049 542 8,487 — 582,078 Multi-family loans 350,785 — 8 — 350,793 Residential real estate: Residential 323,557 87 845 — 324,489 Home equity 66,910 523 893 — 68,326 Commercial: Secured 121,037 151 2,549 — 123,737 Unsecured 370,642 3,191 4,196 — 378,029 Real estate construction and land loans 91,153 — — — 91,153 Installment/consumer loans 17,496 — 100 — 17,596 Total loans $ 2,380,596 $ 7,733 $ 19,193 $ — $ 2,407,522 Grades: December 31, 2014 Pass Special Mention Substandard Doubtful Total (In thousands) Commercial real estate: Owner occupied $ 243,512 $ 7,133 $ 5,963 $ — $ 256,608 Non-owner occupied 334,790 171 3,828 — 338,789 Multi-family loans 217,855 202 928 — 218,985 Residential real estate: First lien 88,405 — 1,613 — 90,018 Home equity 64,994 212 932 — 66,138 Commercial: Secured 91,007 621 2,339 — 93,967 Unsecured 191,942 4,168 1,666 — 197,776 Real estate construction and land loans 63,190 — 366 — 63,556 Installment/consumer loans 9,921 100 103 — 10,124 Total loans $ 1,305,616 $ 12,607 $ 17,738 $ — $ 1,335,961
Schedule of the aging of the recorded investment in past due loans by class of loans	December 31, 2015 30-59 Days Past Due 60-89 Days Past Due >90 Days Past Due And Accruing Nonaccrual Including 90 Days or More Past Due Total Past Due and Nonaccrual Current Total Loans (In thousands) Commercial real estate: Owner occupied $ — $ — $ 435 $ 631 $ 1,066 $ 470,255 $ 471,321 Non-owner occupied — — — — — 582,078 582,078 Multi-family loans — — — — — 350,793 350,793 Residential real estate: Residential mortgages 939 245 — 62 1,246 323,243 324,489 Home equity 69 100 188 610 967 67,359 68,326 Commercial: Secured — — 341 — 341 123,396 123,737 Unsecured 128 24 — 44 196 377,833 378,029 Real estate construction and land loans — — — — — 91,153 91,153 Installment/consumer loans — — — 3 3 17,593 17,596 Total loans $ 1,136 $ 369 $ 964 $ 1,350 $ 3,819 $ 2,403,703 $ 2,407,522 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due >90 Days Past Due And Accruing Nonaccrual Including 90 Days or More Past Due Total Past Due and Nonaccrual Current Total Loans (In thousands) Commercial real estate: Owner occupied $ — $ 184 $ — $ 595 $ 779 $ 255,829 $ 256,608 Non-owner occupied 181 — 10 10 201 338,588 338,789 Multi-family loans — — — — — 218,985 218,985 Residential real estate: First lien — — — 143 143 89,875 90,018 Home equity 919 — 134 374 1,427 64,711 66,138 Commercial: Secured — — — — — 93,967 93,967 Unsecured 25 — — 222 247 197,529 197,776 Real estate construction and land loans — — — — — 63,556 63,556 Installment/consumer loans 1 — — 3 4 10,120 10,124 Total loans $ 1,126 $ 184 $ 144 $ 1,347 $ 2,801 $ 1,333,160 $ 1,335,961
Schedule of individually impaired loans by class	The following tables represent impaired loans by class at December 31, 2015, 2014 and 2013: December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 384 $ 564 $ — $ 412 $ 10 Non-owner occupied 927 928 — 938 62 Residential real estate: Residential mortgages 62 73 — 66 — Home equity 610 700 — 631 — Commercial: Secured 96 96 — 93 6 Unsecured — — — — — Total with no related allowance recorded 2,079 2,361 — 2,140 78 With an allowance recorded: Commercial real estate – Owner occupied — — — — — Commercial real estate – Non-owner occupied 318 318 20 320 15 Residential real estate– Residential mortgages — — — — — Residential real estate – Home equity — — — — — Commercial–Secured — — — — — Commercial–Unsecured 194 194 9 223 17 Total with an allowance recorded 512 512 29 543 32 Total: Commercial real estate: Owner occupied 384 564 — 412 10 Non-owner occupied 1,245 1,246 20 1,258 77 Residential real estate: Residential mortgages 62 73 — 66 — Home equity 610 700 — 631 — Commercial: Secured 96 96 — 93 6 Unsecured 194 194 9 223 17 Total $ 2,591 $ 2,873 $ 29 $ 2,683 $ 110 December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 3,562 $ 3,707 $ — $ 3,974 $ 113 Non-owner occupied 1,251 1,568 — 961 63 Residential real estate: Residential mortgages 143 231 — 199 — Home equity 169 377 — 229 — Commercial: Secured 345 345 — 354 25 Unsecured — — — — — Total with no related allowance recorded 5,470 6,228 — 5,717 201 With an allowance recorded: Commercial real estate – Owner occupied — — — — — Commercial real estate – Non-owner occupied 323 323 23 27 — Residential real estate– Residential mortgages — — — — — Residential real estate – Home equity 71 89 72 75 13 Commercial–Secured — — — — — Commercial–Unsecured 337 339 79 206 — Total with an allowance recorded 731 751 174 308 13 Total: Commercial real estate: Owner occupied 3,562 3,707 — 3,974 113 Non-owner occupied 1,574 1,891 23 988 63 Residential real estate: Residential mortgages 143 231 — 199 — Home equity 240 466 72 304 13 Commercial: Secured 345 345 — 354 25 Unsecured 337 339 79 206 — Total $ 6,201 $ 6,979 $ 174 $ 6,025 $ 214 December 31, 2013 Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Commercial real estate: Owner occupied $ 3,696 $ 3,805 $ — $ 3,730 $ 118 Non-owner occupied 917 917 — 917 60 Residential real estate: First lien 1,463 2,213 — 1,482 26 Home equity 689 1,046 — 633 — Commercial: Secured 352 352 — 450 26 Unsecured 174 — — 232 59 Total with no related allowance recorded 7,291 8,333 — 7,444 289 With an allowance recorded: Commercial real estate – Owner occupied 720 720 94 420 — Commercial real estate – Non-owner occupied 617 617 22 515 — Residential real estate – First Lien 152 156 42 141 — Residential real Estate – Home equity 78 89 80 81 — Total with an allowance recorded 1,567 1,582 238 1,157 — Total: Commercial real estate: Owner occupied 4,416 4,525 94 4,150 118 Non-owner occupied 1,534 1,534 22 1,432 60 Residential real estate: First lien 1,615 2,369 42 1,623 26 Home equity 767 1,135 80 714 — Commercial: Secured 352 352 — 450 26 Unsecured 174 — — 232 59 Total $ 8,858 $ 9,915 $ 238 $ 8,601 $ 289
Schedule of loans receivable by class modified as troubled debt restructuring	Years Ended December 31, 2015 2014 2013 Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Contracts Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment (Dollars in thousands) Trouble Debt Restructurings Commercial real estate: Owner occupied — $ — $ — — $ — $ — 1 $ 720 $ 720 Non-owner occupied — — — 1 323 323 1 620 620 Residential real estate: Home equity: — — — 1 127 127 — — — Commercial: Unsecured 3 160 160 1 127 127 1 33 33 Installment/consumer loans — — — 1 5 5 — — — Total loans 3 $ 160 $ 160 4 $ 582 $ 582 3 $ 1,373 $ 1,373
Summary of activity in the accretable yield for the purchased credit impaired loans	December 31, 2015 2014 (In thousands) Balance at the beginning of the period $ 8,432 $ — Accretable discount arising from acquisition of PCI loans 259 6,580 Accretion (3,570 ) (1,598 ) Reclassification from (to) nonaccretable difference during the period 1,992 3,450 Accretable discount at end of period $ 7,113 $ 8,432
Schedule of selected information about related party loans	Balance Outstanding (In thousands) Balance at January 1, 2015 $ 2,759 New loans — Effective change in related parties 20,118 Advances 13 Repayments (101 ) Balance at December 31, 2015 $ 22,789

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
PREMISES AND EQUIPMENT
Schedule of components of premises and equipment	December 31, 2015 2014 (In thousands) Land $ 7,381 $ 7,381 Building and improvements 14,839 14,829 Furniture, fixtures and equipment 22,292 19,134 Leasehold improvements 17,887 11,243 62,399 52,587 Less: accumulated depreciation and amortization (22,804 ) (20,163 ) Total $ 39,595 $ 32,424

GOODWILL AND OTHER INTANGIBLE34

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	2015 2014 (In thousands) Balance at January 1 $ 9,450 $ 2,034 Acquired goodwill 88,995 7,416 Impairment — — Balance at December 31 $ 98,445 $ 9,450
Schedule of acquired intangible assets	2015 2014 At December 31, Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Amortized intangible assets: Core deposit intangibles $ 7,211 $ 1,186 $ 1,311 $ 469 Non-compete intangible 2,188 730 — — Total $ 9,399 $ 1,916 $ 1,311 $ 469
Schedule of estimated amortization expense	Total (In thousands) 2016 $ 2,272 2017 1,412 2018 916 2019 786 2020 656 Thereafter 1,441 $ 7,483

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2015
DEPOSITS
Schedule of the remaining maturities of the Bank's time deposits	Total (In thousands) 2016 $ 185,650 2017 54,871 2018 25,832 2019 20,255 2020 6,247 Total $ 292,855

SECURITIES SOLD UNDER AGREEME36

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)	12 Months Ended
	Dec. 31, 2015
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Schedule of summary of information concerning the securities sold under agreements to repurchase	2015 2014 (Dollars in thousands) Average daily balance during the year $ 30,317 $ 14,185 Average interest rate during the year 0.65 % 2.71 % Maximum month-end balance during the year $ 51,400 $ 36,879 Weighted average interest rate at year-end 0.64 % 2.67 %

FEDERAL HOME LOAN BANK ADVANC37

FEDERAL HOME LOAN BANK ADVANCES (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of contractual maturities and weighted average interest rates of FHLB advances	December 31, 2015 Contractual Maturity Amount Weighted Average Rate (Dollars in thousands) Overnight $ — — % 2016 249,599 0.75 % 2017 19,149 0.74 2018 25,781 1.04 2019 2,978 1.08 297,507 0.78 % $ 297,507 0.78 % December 31, 2014 Contractual Maturity Amount Weighted Average Rate (Dollars in thousands) Overnight $ 69,000 0.32 % 2015 41,508 0.37 % 2016 11,703 0.69 2017 — — 2018 16,116 1.00 69,327 0.57 % $ 138,327 0.44 %

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2015
DERIVATIVES
Summary of information about the interest rate swap designated as a cash flow hedge	(Dollars in thousands) 2015 2014 Notional amounts $ 125,000 $ 75,000 Weighted average pay rates 1.58 % 1.39 % Weighted average receive rates 0.51 % 0.24 % Weighted average maturity 3.22 years 3.86 years
Schedule of the net gains (losses) recorded, net of income tax, in accumulated other comprehensive income and the Consolidated Statements of Income relating to the cash flow derivative instruments	2015 (In thousands) Amount of (loss) recognized in OCI (Effective Portion) Amount of (loss) reclassified from OCI to interest expense Amount of (loss) recognized in other non- interest income (Ineffective Portion) Interest rate contracts $ (1,008 ) $ (657 ) $ — 2014 (In thousands) Amount of (loss) recognized in OCI (Effective Portion) Amount of (loss) reclassified from OCI to interest expense Amount of (loss) recognized in other non- interest income (Ineffective Portion) Interest rate contracts $ (1,249 ) $ (470 ) $ —
Schedule of cash flow hedge included in the Consolidated Balance Sheets	As of December 31, 2015 2014 Fair Fair Fair Fair Notional Value Value Notional Value Value (In thousands) Amount Asset Liability Amount Asset Liability Included in other assets/(liabilities): Interest rate swaps related to FHLB Advances $ 100,000 $ 14 $ (713 ) $ 40,000 $ 32 $ (280 ) Forward starting interest rate swap related to repurchase agreements — — — 10,000 — (445 ) Forward starting interest rate swap related to FHLB Advances 25,000 — (595 ) 25,000 — (250 )
Summary of information about interest rate swaps	(Dollars in thousands) 2015 2014 Notional amounts $ 56,328 $ 11,175 Weighted average pay rates 3.39 % 3.28 % Weighted average receive rates 3.39 % 3.28 % Weighted average maturity 3.39 years 9.64 years Fair value of combined interest rate swaps $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES
Schedule of components of income tax expense	Years Ended December 31, 2015 2014 2013 (In thousands) Current: Federal $ 8,248 $ 3,926 $ 5,500 State 1,230 507 664 9,478 4,433 6,164 Deferred: Federal 1,457 2,187 403 State (157 ) 619 102 1,300 2,806 505 Income tax expense $ 10,778 $ 7,239 $ 6,669
Schedule of reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision	Years Ended December 31, 2015 2014 2013 (Dollars in thousands) Amount Percentage of Pre-tax Earnings Amount Percentage of Pre-tax Earnings Amount Percentage of Pre-tax Earnings Federal income tax expense computed by applying the statutory rate to income before income taxes $ 11,161 35 % $ 7,141 34 % $ 6,828 34 % Tax exempt interest (927 ) (3 ) (665 ) (3 ) (740 ) (4 ) State taxes, net of federal income tax benefit 1,087 3 743 4 502 3 Other (543 ) (1 ) 20 — 79 1 Income tax expense $ 10,778 34 % $ 7,239 35 % $ 6,669 34 %
Schedule of components of deferred tax assets and liabilities	December 31, 2015 2014 (In thousands) Deferred tax assets: Allowance for loan losses $ 9,034 $ 7,311 Net unrealized losses on securities 3,224 2,177 Restricted stock awards 1,435 1,003 Purchase accounting fair value adjustments 15,942 8,321 Net change in pension liability 2,811 2,985 Net operating loss carryforward 1,955 2,063 Net loss on cash flow hedge 524 374 Other 792 351 Total 35,717 24,585 Deferred tax liabilities: Pension and SERP expense (4,142 ) (3,765 ) Depreciation (1,828 ) (1,832 ) REIT undistributed net income (482 ) (628 ) Net deferred loan costs and fees (1,416 ) (981 ) Other (1,541 ) (707 ) Total (9,409 ) (7,913 ) Net deferred tax asset $ 26,308 $ 16,672

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2015
EMPLOYEE BENEFITS
Schedule of Information about changes in obligations and plan assets of the defined benefit pension plan and the defined benefit plan component of the SERP	Pension Benefits SERP Benefits At December 31, 2015 2014 2015 2014 (In thousands) Change in benefit obligation: Benefit obligation at beginning of year $ 18,960 $ 13,243 $ 2,457 $ 1,919 Service cost 1,134 905 168 132 Interest cost 706 639 91 88 Benefits paid and expected expenses (264 ) (282 ) (112 ) (112 ) Assumption changes and other (2,021 ) 4,455 (49 ) 430 Plan amendment — — — — Benefit obligation at end of year $ 18,515 $ 18,960 $ 2,555 $ 2,457 Change in plan assets, at fair value: Plan assets at beginning of year $ 23,887 $ 21,828 $ — $ — Actual return on plan assets (60 ) 981 — — Employer contribution 999 1,361 112 112 Benefits paid and actual expenses (264 ) (283 ) (112 ) (112 ) Plan assets at end of year $ 24,562 $ 23,887 $ — $ — Funded status (plan assets less benefit obligations) $ 6,047 $ 4,927 $ (2,555 ) $ (2,457 )
Schedule of amounts recognized in accumulated other comprehensive income	Pension Benefits SERP Benefits At December 31, 2015 2014 2015 2014 (In thousands) Net actuarial loss $ 7,108 $ 7,631 $ 546 $ 628 Prior service cost (792 ) (869 ) — — Transition obligation — — 60 87 Plan amendment — — — — Net amount recognized $ 6,316 $ 6,762 $ 606 $ 715
Schedule net periodic benefit cost and other amounts recognized in other comprehensive income	Pension Benefits SERP Benefits At December 31, 2015 2014 2013 2015 2014 2013 (In thousands) Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income Service cost $ 1,134 $ 905 $ 931 $ 168 $ 132 $ 149 Interest cost 706 639 564 91 88 76 Expected return on plan assets (1,838 ) (1,625 ) (1,385 ) — — — Amortization of net loss 376 27 325 32 — — Amortization of unrecognized prior service cost (77 ) (77 ) (77 ) — — — Amortization of unrecognized transition (asset) obligation — — — 28 28 43 Net periodic benefit cost (credit) $ 301 $ (131 ) $ 358 $ 319 $ 248 $ 268 Net (gain) loss $ (123 ) $ 5,099 $ (2,677 ) $ (48 ) $ 430 $ (193 ) Prior service cost — — — — — — Transition obligation — — — — — — Amortization of net loss (376 ) (27 ) (325 ) (32 ) — — Amortization of prior service cost 77 77 77 — — — Amortization of transition obligation — — — (27 ) (27 ) (43 ) (422 ) 5,149 (2,925 ) (107 ) 403 (236 ) Deferred taxes 141 (2,044 ) 1,161 33 (160 ) 93 Total recognized in other comprehensive income (281 ) 3,105 (1,764 ) (74 ) 243 (143 ) Total recognized in net periodic benefit cost and other comprehensive income $ 20 $ 2,974 $ (1,406 ) $ 245 $ 491 $ 125
Schedule of average assumptions used to determine benefit obligations and net periodic benefit cost	Pension Benefits SERP Benefits At December 31, 2015 2014 2013 2015 2014 2013 Weighted Average Assumptions Used to Determine Benefit Obligations Discount rate 4.30 % 3.90 % 4.90 % 4.20 % 3.80 % 4.70 % Rate of compensation increase 3.00 3.00 3.00 5.00 5.00 5.00 Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost Discount rate 3.90 % 4.90 % 4.20 % 3.80 % 4.70 % 3.90 % Rate of compensation increase 3.00 3.00 3.00 5.00 5.00 5.00 Expected long-term rate of return 7.50 7.50 7.50 — — —
Schedule of target allocations for Plan assets	Percentage of Plan Assets At December 31, Weighted- Average Expected Target Allocation 2016 2015 2014 Long-term Rate of Return Asset Category Cash Equivalents 0 – 5 % 4.6 % 4.1 % — Equity Securities 45 - 65 % 62.2 % 62.1 % 4.9 % Fixed income securities 35 - 55 % 33.2 % 33.8 % 2.6 % Total 100.0 % 100.0 % 7.5 %
Schedule of the Plan's fair value hierarchy for its financial assets measured at fair value on a recurring basis	Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Cash and Cash Equivalents Cash $ 1,129 $ 1,129 $ — Short term investment funds 21 — 21 Total cash equivalents 1,150 1,129 21 Equities: U.S. Large cap 7,472 7,472 — U.S. Mid cap/small cap 2,259 2,259 — International 4,390 4,390 — Equities blend 1,151 1,151 — Total equities 15,272 15,272 — Fixed income securities: Government issues 1,329 984 345 Corporate bonds 1,308 — 1,308 Mortgage backed 562 — 562 High yield bonds and bond funds 4,941 — 4,941 Total fixed income securities 8,140 984 7,156 Total Plan Assets $ 24,562 $ 17,385 $ 7,177 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Cash and Cash Equivalents Cash $ 15 $ 15 $ — Short term investment funds 964 — 964 Total cash equivalents 979 15 964 Equities: U.S. Large cap 9,918 9,919 — U.S. Mid cap 800 800 — U.S. Small cap 782 782 — International 3,361 3,361 — Total equities 14,861 14,862 — Fixed income securities: Government issues 1,413 — 1,413 Corporate bonds 1,220 — 1,220 Mortgage backed 533 — 533 High yield bonds and bond funds 4,881 — 4,881 Total fixed income securities 8,047 — 8,047 Total Plan Assets $ 23,887 $ 14,877 $ 9,011
Summary of payments, which reflect expected future service, expected to be paid	Year Pension and SERP Payments 2016 $ 506 2017 568 2018 663 2019 733 2020 899 2021-2025 5,913
Summary of status of stock options	(Dollars in thousands, except per share amounts) Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding, January 1, 2015 39,870 $ 25.63 Granted — — Exercised (14,014 ) $ 25.53 Forfeited — — Expired (2,131 ) $ 30.60 Outstanding, December 31, 2015 23,725 $ 25.25 0.91 years $ 123 Vested and Exercisable, December 31, 2015 23,725 $ 25.25 0.91 years $ 123 Range of Exercise Prices Number of Options Exercise Price 23,725 $ 25.25 23,725
Schedule of summary of activity related to the stock options	December 31, 2015 2014 2013 (In thousands) Intrinsic value of options exercised $ 52 $ 3 $ 4 Cash received from options exercised 80 7 4 Tax benefit realized from option exercises — — — Weighted average fair value of options granted — — —
Schedule of unvested restricted stock	Shares Weighted Average Grant-Date Fair Value Unvested, January 1, 2015 248,444 $ 22.48 Granted 71,187 $ 26.33 Vested (33,586 ) $ 21.79 Forfeited (4,969 ) $ 26.61 Unvested, December 31, 2015 281,076 $ 23.46

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
EARNINGS PER SHARE
Schedule of computation of EPS	For the Years Ended December 31, 2014 2014 2013 (In thousands, except per share data) Net Income $ 21,111 $ 13,763 $ 13,093 Less: Dividends paid on and earnings allocated to participating securities (451 ) (319 ) (329 ) Income attributable to common stock $ 20,660 $ 13,444 $ 12,764 Weighted average common shares outstanding, including participating securities 14,792 11,633 9,622 Less: weighted average participating securities (319 ) (278 ) (242 ) Weighted average common shares outstanding 14,473 11,355 9,380 Basic earnings per common share $ 1.43 $ 1.18 $ 1.36 Income attributable to common stock $ 20,660 $ 13,444 $ 12,764 Weighted average common shares outstanding 14,473 11,355 9,380 Weighted average common equivalent shares outstanding 4 — — Weighted average common and equivalent shares outstanding 14,477 11,355 9,380 Diluted earnings per common share $ 1.43 $ 1.18 $ 1.36

COMMITMENTS AND CONTINGENCIES42

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS
Schedule of projected minimum rentals under existing operating leases	Year (In thousands) 2016 $ 6,710 2017 6,621 2018 5,787 2019 5,287 2020 4,638 Thereafter 21,854 Total $ 50,897
Schedule of commitments outstanding	December 31, 2015 2014 (In thousands) Standby letters of credit $ 14,930 $ 1,903 Loan commitments outstanding (1) 46,034 58,930 Unused lines of credit 418,596 248,328 Total commitments outstanding $ 479,560 $ 309,161 (1) Of the $46.0 million of loan commitments outstanding at December 31, 2014, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2015
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of assets and liabilities measured on a recurring basis	Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Assets: Available for sale securities U.S. GSE securities $ 62,674 $ 62,674 State and municipal obligations 87,935 87,935 U.S. GSE Residential mortgage-backed securities 200,264 200,264 U.S. GSE Residential collateralized mortgage 317,878 317,878 U.S. GSE Commercial mortgage-backed securities 12,418 12,418 U.S. GSE Commercial collateralized mortgage 64,198 64,198 Other Asset-backed securities 22,371 22,371 Corporate Bonds 32,465 32,465 Total available for sale securities $ 800,203 $ 800,203 Derivatives $ 779 779 Financial Liabilities: Derivatives $ 2,073 $ 2,073 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Financial Assets: Available for sale securities U.S. GSE securities $ 95,425 $ 95,425 State and municipal obligations 63,693 63,693 U.S. GSE Residential mortgage-backed securities 101,425 101,425 U.S. GSE Residential collateralized mortgage 258,599 258,599 U.S. GSE Commercial mortgage-backed securities 2,945 2,945 U.S. GSE Commercial collateralized mortgage 24,082 24,082 Other Asset-backed securities 23,037 23,037 Corporate Bonds 17,978 17,978 Total available for sale securities $ 587,184 $ 587,184 Derivatives $ 280 $ 280 Financial Liabilities: Derivatives $ 1,223 $ 1,223
Schedule of assets measured at fair value on a non-recurring basis	Fair Value Measurements at December 31, 2015 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Impaired loans $ 483 $ 483 Other real estate owned 250 250 Fair Value Measurements at December 31, 2014 Using: Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Impaired loans $ 558 $ 558
Schedule of estimated fair values and recorded carrying values of financial instruments	Fair Value Measurement at December 31, 2015 Using: (In thousands) Carrying Amount Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial Assets: Cash and due from banks $ 79,750 $ 79,750 $ — $ — $ 79,750 Interest bearing deposits with banks 24,408 — 24,408 — 24,408 Securities available for sale 800,203 — 800,203 — 800,203 Securities restricted 24,788 n/a n/a n/a n/a Securities held to maturity 208,351 — 210,003 — 210,003 Loans, net 2,390,030 — — 2,379,171 2,379,171 Derivatives 779 — 779 — 779 Accrued interest receivable 9,270 — 3,228 6,042 9,270 Financial Liabilities: Certificates of deposit 292,855 — 293,368 — 293,368 Demand and other deposits 2,550,770 2,550,770 — — 2,550,770 Federal funds purchased 120,000 120,000 — — 120,000 Federal Home Loan Bank advances 297,507 197,243 100,772 — 298,015 Repurchase agreements 50,891 — 51,480 — 51,480 Subordinated Debentures 78,363 — — 78,830 78,830 Junior Subordinated Debentures 15,878 — — 16,566 16,566 Derivatives 2,073 — 2,073 — 2,073 Accrued interest payable 1,644 93 1,551 — 1,644 Fair Value Measurement at December 31, 2014 Using: (In thousands) Carrying Amount Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial Assets: Cash and due from banks $ 45,109 $ 45,109 $ — $ — $ 45,109 Interest bearing deposits with banks 6,621 — 6,621 — 6,621 Securities available for sale 587,184 — 587,184 — 587,184 Securities restricted 10,037 n/a n/a n/a n/a Securities held to maturity 214,927 — 216,289 — 216,289 Loans, net 1,320,690 — — 1,317,625 1,317,625 Derivatives 280 — 280 — 280 Accrued interest receivable 6,425 — 2,721 3,704 6,425 Financial Liabilities: Certificates of deposit 141,362 — 142,264 — 142,264 Demand and other deposits 1,692,417 1,692,417 — — 1,692,417 Federal funds purchased 75,000 75,000 — — 75,000 Federal Home Loan Bank advances 138,327 98,070 40,165 — 138,235 Repurchase agreements 36,263 — 36,991 — 36,991 Subordinated Debentures — — — — — Junior Subordinated Debentures 16,002 — — 16,528 16,528 Derivatives 1,223 — 1,223 — 1,223 Accrued interest payable 308 77 231 — 308

REGULATORY CAPITAL REQUIREMEN44

REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
REGULATORY CAPITAL REQUIREMENTS
Schedule of the Company's and Bank's actual capital amounts and ratios	Basel III Minimum To Be Well Minimum Capital Capitalized Under Prompt As of December 31, 2015 Actual Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common Equity Tier 1 Capital to Risk Weighted Assets: Consolidated $ 249,921 9.3 % $ 121,074 4.5 % n/a n/a Bank 319,351 11.9 121,074 4.5 $ 174,884 6.5 % Total Capital to Risk Weighted Assets: Consolidated 366,393 13.6 215,243 8.0 n/a n/a Bank 340,371 12.7 215,242 8.0 269,053 10.0 Tier 1 Capital to Risk Weighted Assets: Consolidated 265,373 9.9 161,432 4.0 n/a n/a Bank 319,351 11.9 161,432 4.0 215,242 8.0 Tier 1 Capital to Average Assets: Consolidated 265,373 7.6 140,490 4.0 n/a n/a Bank 319,351 9.1 140,492 4.0 175,615 5.0 Basel I Minimum To Be Well Minimum Capital Capitalized Under Prompt As of December 31, 2014 Actual Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common Equity Tier 1 Capital to Risk Weighted Assets: Consolidated n/a n/a n/a n/a n/a n/a Bank n/a n/a n/a n/a n/a n/a Total Capital to Risk Weighted Assets: Consolidated $ 207,340 13.0 % $ 127,445 8.0 % n/a n/a Bank 206,633 13.0 127,427 8.0 $ 159,284 10.0 % Tier 1 Capital to Risk Weighted Assets: Consolidated 189,527 11.9 63,722 4.0 n/a n/a Bank 188,820 11.9 63,714 4.0 95,571 6.0 Tier 1 Capital to Average Assets: Consolidated 189,527 8.4 90,614 4.0 n/a n/a Bank 188,820 8.3 90,617 4.0 113,271 5.0

PARENT COMPANY ONLY CONDENSED45

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
Schedule of condensed balance sheets	December 31, 2015 2014 (In thousands) ASSETS Cash and cash equivalents $ 25,475 $ 610 Other assets 16 89 Investment in the Bank 411,106 190,292 Total Assets $ 436,597 $ 190,991 LIABILITIES AND STOCKHOLDERS’ EQUITY Subordinated debentures $ 78,363 $ — Junior subordinated debentures 15,878 15,873 Other liabilities 1,228 — Total Liabilities 95,469 15,873 Total Stockholders’ Equity 341,128 175,118 Total Liabilities and Stockholders’ Equity $ 436,597 $ 190,991
Schedule of condensed statements of income	Years ended December 31, 2015 2014 2013 (In thousands) Dividends from the Bank $ 10,000 $ — $ — Interest expense 2,626 1,365 1,365 Non-interest expense 73 86 69 Income (loss) before income taxes and equity in undistributed 7,301 (1,451 ) (1,434 ) Income tax benefit (933 ) (463 ) (483 ) Income (loss) before equity in undistributed earnings of the Bank 8,234 (988 ) (951 ) Equity in undistributed earnings of the Bank 12,877 14,751 14,044 Net income $ 21,111 $ 13,763 $ 13,093
Schedule of condensed statements of cash flows	Years ended December 31, 2015 2014 2013 (In thousands) Cash flows from operating activities: Net income $ 21,111 $ 13,763 $ 13,093 Adjustments to reconcile net income to net cash (used in) operating activities: Equity in undistributed earnings of the Bank (12,877 ) (14,751 ) (14,044 ) Amortization 44 5 5 Decrease (increase) in other assets 72 76 (105 ) Increase (decrease) in other liabilities 1,228 (48 ) (5 ) Net cash provided by (used in) operating activities 9,578 (955 ) (1,056 ) Cash flows from investing activities: Investment in the Bank (50,000 ) (24,000 ) (6,000 ) Cash in lieu of fractional shares for business acquisition — (1 ) — Net cash used in investing activities (50,000 ) (24,001 ) (6,000 ) Cash flows from financing activities: Net proceeds from issuance of subordinated debentures 78,324 — — Repayment of acquired unsecured debt — (1,450 ) — Net proceeds from issuance of common stock 779 631 46,237 Net proceeds from exercise of stock options 80 7 4 Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards (228 ) (173 ) (291 ) Excess tax benefit from share based compensation 50 36 21 Cash dividends paid (13,415 ) (10,657 ) (6,754 ) Other, net (303 ) (192 ) — Net cash provided by (used in) financing activities 65,287 (11,798 ) 39,217 Net increase (decrease) in cash and cash equivalents 24,865 (36,754 ) 32,161 Cash and cash equivalents at beginning of year 610 37,364 5,203 Cash and cash equivalents at end of year $ 25,475 $ 610 $ 37,364

OTHER COMPREHENSIVE INCOME (L46

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2015
OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of other comprehensive income (loss) components and related income tax effects	Years Ended December 31, 2015 2014 2013 (In thousands) Unrealized holding (losses) gains on available for sale securities $ (2,489 ) $ 13,315 $ (23,771 ) Reclassification adjustment for losses (gains) realized in income 8 1,090 (659 ) Income tax effect 1,047 (5,718 ) 9,698 Net change in unrealized (losses) gains on available for sale securities (1,434 ) 8,687 (14,732 ) Unrealized net gain (loss) arising during the period 196 (5,529 ) 2,871 Reclassification adjustment for amortization realized in income 358 (23 ) 291 Income tax effect (174 ) 2,204 (1,255 ) Net change in post-retirement obligation 380 (3,348 ) 1,907 Change in fair value of derivatives used for cash flow hedges (1,008 ) (1,249 ) (259 ) Reclassification adjustment for losses realized in income 657 470 271 Income tax effect 150 309 (5 ) Net change in unrealized (loss) gain on cash flow hedges (201 ) (470 ) 7 Total $ (1,255 ) $ 4,869 $ (12,818 )
Schedule of the accumulated other comprehensive income balances, net of income tax	Details about Accumulated Other Comprehensive Income Balance as of January 1, 2015 Current Period Change Balance as of December 31, 2015 (In thousands) Unrealized (losses) gains on available for sale securities $ (3,307 ) $ (1,434 ) $ (4,741 ) Unrealized (losses) gains on pension benefits (4,491 ) 380 (4,111 ) Unrealized (losses) gains on cash flow hedges (569 ) (201 ) (770 ) Total $ (8,367 ) $ (1,255 ) $ (9,622 )
Schedule of reclassifications out of accumulated other comprehensive income	Twelve Months Ended December 31, Details about accumulated Other Comprehensive Income 2015 2014 2013 Affected Line Item in the Consolidated Statements of Income (In thousands) Realized (losses) gains on sale of available for sale securities $ (8 ) $ (1,090 ) $ 659 Net securities losses Income tax benefit (expense) 3 433 (262 ) Income tax expense Net of income tax (5 ) (657 ) 397 Amortization of defined benefit pension plan and the defined benefit plan component of the SERP: Prior service credit $ 77 $ 77 $ 77 Salaries and employee benefits Transition obligation (27 ) (27 ) (43 ) Salaries and employee benefits Actuarial losses (408 ) (27 ) (325 ) Salaries and employee benefits (358 ) 23 (291 ) Income tax benefit (expense) 145 (9 ) 116 Income tax expense Net of income tax (213 ) 14 (175 ) Realized losses on cash flow hedges $ (657 ) $ (470 ) $ (271 ) Interest Expense Income tax effect 266 187 108 Income tax expense Net of income tax (391 ) (283 ) (163 ) Total reclassifications, net of income tax $ (609 ) $ (926 ) $ 59

QUARTERLY FINANCIAL DATA (UNA47

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
QUARTERLY FINANCIAL DATA (UNAUDITED)
Summary of Selected Consolidated Quarterly Financial Data	2015 Quarter Ended, March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Interest income $ 20,507 $ 22,380 $ 31,744 $ 31,609 Interest expense 1,812 1,953 2,659 3,705 Net interest income 18,695 20,427 29,085 27,904 Provision for loan losses 800 700 1,500 1,000 Net interest income after provision for loan losses 17,895 19,727 27,585 26,904 Non-interest income 2,804 2,527 3,926 3,411 Non-interest expenses 13,310 (2) 22,034 (3) 19,373 (4) 18,173 (5) Income before income taxes 7,389 220 12,138 12,142 Income tax expense 2,626 (243 ) 4,248 4,147 Net income $ 4,763 $ 463 $ 7,890 $ 7,995 Basic earnings per share $ 0.41 $ 0.04 $ 0.45 $ 0.46 Diluted earnings per share $ 0.41 $ 0.04 $ 0.45 $ 0.46 2014 Quarter Ended, March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Interest income $ 17,358 $ 18,730 $ 19,219 $ 19,603 Interest expense 1,822 1,915 1,857 1,866 Net interest income 15,536 16,815 17,362 17,737 Provision for loan losses 700 500 500 500 Net interest income after provision for loan losses 14,836 16,315 16,862 17,237 Non-interest income 802 (1) 2,292 2,562 2,510 Non-interest expenses 15,013 (2) 12,124 (3) 12,094 13,183 (5) Income before income taxes 625 6,483 7,330 6,564 Income tax expense 219 2,165 2,459 2,396 Net income $ 406 $ 4,318 $ 4,871 $ 4,168 Basic earnings per share $ 0.04 $ 0.37 $ 0.42 $ 0.36 Diluted earnings per share $ 0.04 $ 0.37 $ 0.42 $ 0.36 (1) 2014 amount includes net securities losses of $1.1 million. (2) 2015 amount includes costs associated with the CNB acquisition of $0.2 million. 2014 amount includes costs associated with the FNBNY acquisition and branch restructuring of $4.4 million. (3) 2015 amount includes costs associated with the CNB acquisition of $8.2 million. 2014 amount includes costs associated with the FNBNY acquisition of $0.3 million. (4) 2015 amount includes costs associated with the CNB acquisition of $0.9 million. (5) 2015 amount includes costs associated with the CNB acquisition of $0.5 million. 2014 amount includes costs associated with the CNB acquisition of $0.8 million

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Business Acquisition [Line Items]
Schedule of business acquisition proforma information	Pro Forma for the Year Unaudited Ended December 31, (In thousands, except per share amounts) 2015 2014 Net Interest Income $ 129,538 $ 102,400 Net income $ 35,856 $ 20,089 Basic earnings per share $ 2.06 $ 1.90 Diluted earnings per share $ 2.06 $ 1.90
CNB
Business Acquisition [Line Items]
Schedule of recognized identified assets acquired and liabilities assumed	(In thousands) As Initially Reported Measurement Period Adjustments As Adjusted (In thousands, except per share amounts) Cash and due from banks $ 24,628 $ — $ 24,628 Securities 90,109 — 90,109 Loans 736,348 (2,362 ) 733,986 Bank Owned Life Insurance 21,445 — 21,445 Premises and equipment 6,398 — 6,398 Other intangible assets 6,698 — 6,698 Other assets 14,484 2,182 16,666 Total Assets Acquired $ 900,110 $ (180 ) $ 899,930 Deposits $ 786,853 — 786,853 Federal Home Loan Bank term advances 35,581 — 35,581 Other liabilities and accrued expenses 5,647 3,341 8,988 Total Liabilities Assumed $ 828,081 $ 3,341 $ 831,422 Net Assets Acquired 72,029 (3,521 ) 68,508 Consideration Paid 157,503 — 157,503 Goodwill Recorded on Acquisition $ 85,474 $ 3,521 $ 88,995
FNBNY
Business Acquisition [Line Items]
Schedule of recognized identified assets acquired and liabilities assumed	(In thousands) February 14, 2014 (In thousands, except per share amounts) Cash and due from banks $ 1,883 Interest earning deposits with banks 1,044 Securities 103,192 Loans 89,714 Premises and equipment 1,787 Core deposit intangible 951 Other assets 13,378 Total Assets Acquired $ 211,949 Deposits 169,873 Federal Home Loan Bank term advances 39,282 Unsecured debt 1,450 Other liabilities and accrued expenses 2,620 Total Liabilities Assumed $ 213,225 Net Assets Acquired/(Liabilities Assumed) (1,276 ) Consideration Paid 6,140 Goodwill Recorded on Acquisition $ 7,416

PRESENTATION OF DEBT ISSUANCE49

PRESENTATION OF DEBT ISSUANCE COSTS (Tables)	12 Months Ended
	Dec. 31, 2015
Presentation Of Debt Issuance Costs [Abstract]
Schedule of impact of retrospective application to the balance sheet	(in thousands) December 31, 2014 Other assets As previously reported $ 19,373 As reported under the new guidance 19,244 Total assets As previously reported $ 2,288,653 As reported under the new guidance 2,288,524 Junior subordinated debentures As previously reported $ 16,002 As reported under the new guidance 15,873 Total liabilities As previously reported $ 2,113,535 As reported under the new guidance 2,113,406

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses
Potential charge-off of loan upon principal or interest default, period one	90 days
Potential charge-off of loan upon principal or interest default, period two	120 days
Potential charge-off of loan upon principal or interest default, period three	180 days
Balance of loans individually evaluated for impairment	$ 2,591,000	$ 6,201,000	$ 8,858,000
Balance of loans collectively evaluated for impairment	$ 2,392,859,000	$ 1,316,876,000	$ 1,001,257,000
Minimum
Impaired Intangible Assets [Abstract]
Estimated useful life	2 years
Allowance for loan losses
Balance of loans individually evaluated for impairment	$ 50,000
Maximum
Impaired Intangible Assets [Abstract]
Estimated useful life	10 years
Allowance for loan losses
Balance of loans collectively evaluated for impairment	$ 50,000

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 1)	12 Months Ended
	Dec. 31, 2015USD ($)segment
Premises and equipment
Servicing assets	$ 893,000
Dividends
Amount up to which dividends can be declared by the Bank to the Parent Company	$ 27,600,000
Period from which net retained earnings are available for dividend payment from the Bank to the Parent Company	2 years
Cash dividend paid to parent company by bank	$ 10,000,000
Segment Reporting
Number of reportable operating segment | segment	1
Buildings
Premises and equipment
Useful life	50 years
Equipment, computer hardware and software and furniture and fixtures | Minimum
Premises and equipment
Useful life	2 years
Equipment, computer hardware and software and furniture and fixtures | Maximum
Premises and equipment
Useful life	10 years

SECURITIES (Details)

SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Available for sale:
Amortized Cost	$ 808,168	$ 592,667
Gross Unrealized Gains	1,193	1,371
Gross Unrealized Losses	(9,158)	(6,854)
Estimated Fair Value	800,203	587,184
Held to maturity:
Held-to-maturity Securities	208,351	214,927
Gross Unrealized Gains	2,867	2,939
Gross Unrealized Losses	(1,215)	(1,577)
Estimated Fair Value	210,003	216,289
Total securities
Amortized Cost	1,016,519	807,594
Gross Unrealized Gains	4,060	4,310
Gross Unrealized Losses	(10,373)	(8,431)
Investments, Fair Value Disclosure	1,010,206	803,473
U.S. GSE securities
Available for sale:
Amortized Cost	$ 63,238	97,560
Gross Unrealized Gains		4
Gross Unrealized Losses	$ (564)	(2,139)
Estimated Fair Value	62,674	95,425
Held to maturity:
Held-to-maturity Securities	7,466	11,283
Gross Unrealized Gains	$ 1	135
Gross Unrealized Losses		(41)
Estimated Fair Value	$ 7,467	11,377
State and municipal obligations
Available for sale:
Amortized Cost	87,830	63,583
Gross Unrealized Gains	427	318
Gross Unrealized Losses	(322)	(208)
Estimated Fair Value	87,935	63,693
Held to maturity:
Held-to-maturity Securities	64,878	64,864
Gross Unrealized Gains	1,715	1,658
Gross Unrealized Losses	(113)	(98)
Estimated Fair Value	66,480	66,424
U.S. GSE residential mortgage-backed securities
Available for sale:
Amortized Cost	201,297	100,931
Gross Unrealized Gains	237	534
Gross Unrealized Losses	(1,270)	(40)
Estimated Fair Value	200,264	101,425
Held to maturity:
Held-to-maturity Securities	$ 7,609	$ 6,667
Gross Unrealized Gains
Gross Unrealized Losses	$ (106)	$ (97)
Estimated Fair Value	22,953	6,570
U.S. GSE Residential collateralized mortgage Obligations
Available for sale:
Amortized Cost	321,253	261,256
Gross Unrealized Gains	513	310
Gross Unrealized Losses	(3,888)	(2,967)
Estimated Fair Value	317,878	258,599
Held to maturity:
Held-to-maturity Securities	60,933	59,539
Gross Unrealized Gains	617	507
Gross Unrealized Losses	(498)	(862)
Estimated Fair Value	61,052	59,184
U.S. GSE commercial mortgage-backed securities
Available for sale:
Amortized Cost	12,491	$ 3,016
Gross Unrealized Gains	7
Gross Unrealized Losses	(80)	$ (71)
Estimated Fair Value	12,418	2,945
Held to maturity:
Held-to-maturity Securities	23,056	13,213
Gross Unrealized Gains	210	233
Gross Unrealized Losses	(313)	(26)
Estimated Fair Value	22,953	13,420
U.S. GSE commercial collateralized mortgage obligations
Available for sale:
Amortized Cost	64,809	24,179
Gross Unrealized Gains	9	44
Gross Unrealized Losses	(620)	(141)
Estimated Fair Value	64,198	24,082
Held to maturity:
Held-to-maturity Securities	33,409	36,413
Gross Unrealized Gains	282	267
Gross Unrealized Losses	(185)	(431)
Estimated Fair Value	33,506	36,249
Other asset backed securities
Available for sale:
Amortized Cost	$ 24,250	$ 24,190
Gross Unrealized Gains
Gross Unrealized Losses	$ (1,879)	$ (1,153)
Estimated Fair Value	22,371	23,037
Corporate bonds
Available for sale:
Amortized Cost	$ 33,000	17,952
Gross Unrealized Gains		161
Gross Unrealized Losses	$ (535)	(135)
Estimated Fair Value	32,465	17,978
Held to maturity:
Held-to-maturity Securities	11,000	22,948
Gross Unrealized Gains	$ 42	139
Gross Unrealized Losses		(22)
Estimated Fair Value	$ 11,042	$ 23,065

SECURITIES (Details 1)

SECURITIES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Available for sale:
Less than 12 months, Fair Value	$ 488,360	$ 124,180
Less than 12 months, Unrealized losses	4,481	1,832
Greater than 12 months, Fair Value	135,602	236,138
Greater than 12 months, Unrealized losses	4,677	5,022
Held to maturity:
Less than 12 months, Fair Value	63,690	40,135
Less than 12 months, Unrealized losses	689	238
Greater than 12 months, Fair Value	19,492	57,397
Greater than 12 months, Unrealized losses	526	1,339
U.S. GSE securities
Available for sale:
Less than 12 months, Fair Value	37,759	4,991
Less than 12 months, Unrealized losses	235	8
Greater than 12 months, Fair Value	24,914	90,233
Greater than 12 months, Unrealized losses	$ 329	$ 2,131
Held to maturity:
Less than 12 months, Fair Value
Less than 12 months, Unrealized losses
Greater than 12 months, Fair Value		$ 7,414
Greater than 12 months, Unrealized losses		41
State and municipal obligations
Available for sale:
Less than 12 months, Fair Value	$ 39,621	12,330
Less than 12 months, Unrealized losses	298	79
Greater than 12 months, Fair Value	5,118	14,592
Greater than 12 months, Unrealized losses	24	129
Held to maturity:
Less than 12 months, Fair Value	18,375	11,343
Less than 12 months, Unrealized losses	$ 113	97
Greater than 12 months, Fair Value		202
Greater than 12 months, Unrealized losses		$ 1
U.S. GSE residential mortgage-backed securities
Available for sale:
Less than 12 months, Fair Value	$ 136,025
Less than 12 months, Unrealized losses	1,224
Greater than 12 months, Fair Value	1,510	$ 1,554
Greater than 12 months, Unrealized losses	46	$ 40
Held to maturity:
Less than 12 months, Fair Value	7,503
Less than 12 months, Unrealized losses	$ 106
Greater than 12 months, Fair Value		$ 6,569
Greater than 12 months, Unrealized losses		97
U.S. GSE residential collateralized mortgage obligations
Available for sale:
Less than 12 months, Fair Value	$ 187,543	60,126
Less than 12 months, Unrealized losses	1,781	349
Greater than 12 months, Fair Value	66,830	122,179
Greater than 12 months, Unrealized losses	2,107	2,618
Held to maturity:
Less than 12 months, Fair Value	15,918	10,422
Less than 12 months, Unrealized losses	149	46
Greater than 12 months, Fair Value	15,679	30,413
Greater than 12 months, Unrealized losses	349	$ 816
U.S. GSE commercial mortgage-backed securities
Available for sale:
Less than 12 months, Fair Value	8,594
Less than 12 months, Unrealized losses	$ 80
Greater than 12 months, Fair Value		$ 2,944
Greater than 12 months, Unrealized losses		$ 71
Held to maturity:
Less than 12 months, Fair Value	$ 13,982
Less than 12 months, Unrealized losses	$ 313
Greater than 12 months, Fair Value		$ 4,188
Greater than 12 months, Unrealized losses		26
U.S. GSE commercial collateralized mortgage obligations
Available for sale:
Less than 12 months, Fair Value	$ 51,178	13,830
Less than 12 months, Unrealized losses	503	108
Greater than 12 months, Fair Value	10,034	4,636
Greater than 12 months, Unrealized losses	117	33
Held to maturity:
Less than 12 months, Fair Value	7,912	14,392
Less than 12 months, Unrealized losses	8	73
Greater than 12 months, Fair Value	3,813	8,611
Greater than 12 months, Unrealized losses	$ 177	358
Other asset backed securities
Available for sale:
Less than 12 months, Fair Value		23,038
Less than 12 months, Unrealized losses		$ 1,153
Greater than 12 months, Fair Value	$ 22,371
Greater than 12 months, Unrealized losses	1,879
Corporate bonds
Available for sale:
Less than 12 months, Fair Value	27,640	$ 9,865
Less than 12 months, Unrealized losses	360	$ 135
Greater than 12 months, Fair Value	4,825
Greater than 12 months, Unrealized losses	$ 175
Held to maturity:
Less than 12 months, Fair Value		$ 3,978
Less than 12 months, Unrealized losses		$ 22
Greater than 12 months, Fair Value
Greater than 12 months, Unrealized losses

SECURITIES (Details 2)

SECURITIES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Available for sale:
Within one year	$ 5,801
One to five years	86,236
Five to ten years	119,168
Beyond ten years	588,998
Estimated Fair Value	800,203	$ 587,184
Amortized Cost, Available for sale:
Within one year	5,785
One to five years	86,611
Five to ten years	119,949
Beyond ten years	595,823
Total	808,168	592,667
Fair Value, Held to maturity:
Within one year	4,864
One to five years	40,015
Five to ten years	55,319
Beyond ten years	109,805
Estimated Fair Value	210,003	216,289
Amortized Cost, Held to maturity:
Within one year	4,859
One to five years	39,930
Five to ten years	53,951
Beyond ten years	109,611
Total	208,351	214,927
Fair Value, Total securities
Within One Year	10,665
After One But Within Five Years	126,251
After Five But Within Ten Years	174,487
After Ten Years	698,803
Total securities	1,010,206	803,473
Amortized Cost, Total securities
Within One Year	10,644
After One But Within Five Years	126,541
After Five But Within Ten	173,900
After Ten Years	705,434
Amortized Cost	$ 1,016,519	807,594
U.S. GSE securities
Fair Value, Available for sale:
Within one year
One to five years	$ 33,747
Five to ten years	$ 28,927
Beyond ten years
Estimated Fair Value	$ 62,674	95,425
Amortized Cost, Available for sale:
Within one year
One to five years	$ 33,990
Five to ten years	$ 29,248
Beyond ten years
Total	$ 63,238	97,560
Fair Value, Held to maturity:
Within one year
One to five years	$ 7,467
Five to ten years
Beyond ten years
Estimated Fair Value	$ 7,467	11,377
Amortized Cost, Held to maturity:
Within one year
One to five years	$ 7,466
Five to ten years
Beyond ten years
Total	$ 7,466	11,283
State and municipal obligations
Fair Value, Available for sale:
Within one year	4,801
One to five years	46,591
Five to ten years	27,692
Beyond ten years	8,851
Estimated Fair Value	87,935	63,693
Amortized Cost, Available for sale:
Within one year	4,785
One to five years	46,696
Five to ten years	27,478
Beyond ten years	8,871
Total	87,830	63,583
Fair Value, Held to maturity:
Within one year	4,864
One to five years	16,474
Five to ten years	39,098
Beyond ten years	6,044
Estimated Fair Value	66,480	66,424
Amortized Cost, Held to maturity:
Within one year	4,859
One to five years	16,384
Five to ten years	37,616
Beyond ten years	6,019
Total	$ 64,878	64,864
U.S. GSE residential mortgage-backed securities
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	$ 14,369
Beyond ten years	185,895
Estimated Fair Value	$ 200,264	101,425
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	$ 14,441
Beyond ten years	186,856
Total	$ 201,297	100,931
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years
Beyond ten years	$ 7,503
Estimated Fair Value	$ 22,953	6,570
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years	$ 7,609
Beyond ten years	7,609
Total	$ 7,609	6,667
U.S. GSE residential collateralized mortgage obligations
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	$ 4,227
Beyond ten years	313,651
Estimated Fair Value	$ 317,878	258,599
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	$ 4,242
Beyond ten years	317,011
Total	$ 321,253	261,256
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years	$ 1,536
Beyond ten years	59,516
Estimated Fair Value	$ 61,052	59,184
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years	$ 1,494
Beyond ten years	59,439
Total	$ 60,933	59,539
U.S. GSE commercial mortgage-backed securities
Fair Value, Available for sale:
Within one year
One to five years	$ 5,898
Five to ten years	$ 6,520
Beyond ten years
Estimated Fair Value	$ 12,418	2,945
Amortized Cost, Available for sale:
Within one year
One to five years	$ 5,925
Five to ten years	$ 6,566
Beyond ten years
Total	$ 12,491	3,016
Fair Value, Held to maturity:
Within one year
One to five years	$ 5,032
Five to ten years	14,685
Beyond ten years	3,236
Estimated Fair Value	$ 22,953	13,420
Amortized Cost, Held to maturity:
Within one year
One to five years	$ 5,080
Five to ten years	14,841
Beyond ten years	3,135
Total	$ 23,056	13,213
U.S. GSE commercial collateralized mortgage obligations
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	$ 5,968
Beyond ten years	58,230
Estimated Fair Value	$ 64,198	24,082
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	$ 5,974
Beyond ten years	58,835
Total	$ 64,809	24,179
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years
Beyond ten years	$ 33,506
Estimated Fair Value	$ 33,506	36,249
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years
Beyond ten years	$ 33,409
Total	$ 33,409	36,413
Other asset backed securities
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	$ 22,371
Estimated Fair Value	$ 22,371	23,037
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	$ 24,250
Total	24,250	24,190
Corporate bonds
Fair Value, Available for sale:
Within one year	$ 1,000
One to five years
Five to ten years	$ 31,465
Beyond ten years
Estimated Fair Value	$ 32,465	17,978
Amortized Cost, Available for sale:
Within one year	$ 1,000
One to five years
Five to ten years	$ 32,000
Beyond ten years
Total	$ 33,000	17,952
Fair Value, Held to maturity:
Within one year
One to five years	$ 11,042
Five to ten years
Beyond ten years
Estimated Fair Value	$ 11,042	23,065
Amortized Cost, Held to maturity:
Within one year
One to five years	$ 11,000
Five to ten years
Beyond ten years
Total	$ 11,000	$ 22,948

SECURITIES (Detail Textuals)

SECURITIES (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other-Than-Temporary-Impairment
Proceeds from sales of securities available for sale	$ 75,750	$ 360,963	$ 129,431
Gross gains realized on sale of securities available for sale	500	1,200	1,500
Gross losses realized on sale of securities available for sale	500	2,300	$ 800
Fair value of securities pledged to secure public deposits and FHLB and FRB overnight borrowings	$ 611,000	$ 451,100
Threshold for Disclosure Percentage	10.00%	10.00%
Concentration Risk, Percentage		13.00%
Percentage of Assets Backed by A U S Government Guarantee where Bank Had Invested Holdings that Exceeded Ten Percent of Stockholders Equity		95.00%

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Classifications of loans
Total loans	$ 2,407,522	$ 1,335,961	$ 1,011,525
Net deferred loan costs and fees	3,252	2,366
Loans	2,410,774	1,338,327
Allowance for loan losses	(20,744)	(17,637)	(16,001)	$ (14,439)
Loans, net	2,390,030	1,320,690
Commercial real estate mortgage loans
Classifications of loans
Total loans	1,053,399	595,397
Multi-family mortgage loans
Classifications of loans
Total loans	350,793	218,985	107,488
Allowance for loan losses	(4,208)	(2,670)	(1,597)	(1,239)
Residential real estate mortgage loans
Classifications of loans
Total loans	392,815	156,156	153,417
Allowance for loan losses	(2,115)	(2,208)	(2,712)	(2,803)
Commercial, financial, and agricultural loans
Classifications of loans
Total loans	501,766	291,743	209,452
Allowance for loan losses	(5,405)	(4,526)	(4,006)	(4,349)
Real estate-construction and land loans
Classifications of loans
Total loans	91,153	63,556	46,981
Allowance for loan losses	(1,030)	(1,104)	(1,206)	(1,375)
Installment/consumer loans
Classifications of loans
Total loans	17,596	10,124	9,287
Allowance for loan losses	$ (136)	$ (135)	$ (201)	$ (228)

LOANS (Details 1)

LOANS (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)		Dec. 31, 2014USD ($)		Dec. 31, 2013USD ($)
Allowance for Loan Losses
Beginning balance	$ 17,637		$ 16,001		$ 14,439
Charge-offs	(1,128)		(824)		(916)
Recoveries	235		260		128
Net charge-offs	(893)		(564)		(788)
Provision for loan losses	4,000		2,200		2,350
Ending balance	20,744		17,637		16,001
Ending balance: individually evaluated for impairment	29		174		238
Ending balance: collectively evaluated for impairment	20,715		17,463		15,763
Total loans	2,407,522		1,335,961		1,011,525
Ending balance: individually evaluated for impairment, loans	2,591		6,201		8,858
Ending balance: collectively evaluated for impairment, loans	$ 2,392,859		$ 1,316,876		$ 1,001,257
Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality	$ 12,072	[1]	$ 12,884	[2]	$ 1,410	[3]
Commercial Real Estate Mortgage Loans
Allowance for Loan Losses
Beginning balance	6,994		6,279		$ 4,445
Charge-offs	$ (50)		$ (461)
Recoveries
Provision for loan losses	$ 906		$ 1,176		$ 1,834
Ending balance	7,850		6,994		6,279
Ending balance: individually evaluated for impairment	20		23		116
Ending balance: collectively evaluated for impairment	7,830		6,971		6,163
Total loans	1,053,399		595,397		484,900
Ending balance: individually evaluated for impairment, loans	1,629		5,136		5,950
Ending balance: collectively evaluated for impairment, loans	$ 1,051,135		$ 582,946		$ 478,129
Commercial Real Estate Mortgage Loans | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality	$ 635	[1]	$ 7,315	[2]	$ 821	[3]
Multi-family
Allowance for Loan Losses
Beginning balance	$ 2,670		$ 1,597		$ 1,239
Charge-offs
Recoveries
Provision for loan losses	$ 1,538		$ 1,073		$ 358
Ending balance	$ 4,208		2,670		$ 1,597
Ending balance: individually evaluated for impairment			$ 2,670
Ending balance: collectively evaluated for impairment	$ 4,208				$ 1,597
Total loans	$ 350,793		$ 218,985		$ 107,488
Ending balance: individually evaluated for impairment, loans
Ending balance: collectively evaluated for impairment, loans	$ 347,054		$ 218,985		$ 107,488
Multi-family | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality	$ 3,739	[1]		[2]		[3]
Residential Real Estate Mortgage Loans
Allowance for Loan Losses
Beginning balance	2,208		$ 2,712		$ 2,803
Charge-offs	(249)		(257)		(420)
Recoveries	79		170		34
Provision for loan losses	77		(417)		295
Ending balance	$ 2,115		2,208		2,712
Ending balance: individually evaluated for impairment			72		122
Ending balance: collectively evaluated for impairment	$ 2,115		2,136		2,590
Total loans	392,815		156,156		153,417
Ending balance: individually evaluated for impairment, loans	672		383		2,382
Ending balance: collectively evaluated for impairment, loans	$ 390,876		$ 154,897		$ 151,035
Residential Real Estate Mortgage Loans | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality	$ 1,267	[1]	$ 876	[2]		[3]
Commercial, Financial and Agricultural Loans
Allowance for Loan Losses
Beginning balance	4,526		4,006		$ 4,349
Charge-offs	(827)		(104)		(420)
Recoveries	149		87		87
Provision for loan losses	1,557		537		(10)
Ending balance	5,405		4,526		$ 4,006
Ending balance: individually evaluated for impairment	9		79
Ending balance: collectively evaluated for impairment	5,396		4,447		$ 4,006
Total loans	501,766		291,743		209,452
Ending balance: individually evaluated for impairment, loans	290		682		526
Ending balance: collectively evaluated for impairment, loans	$ 495,045		$ 286,368		$ 208,677
Commercial, Financial and Agricultural Loans | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality	$ 6,431	[1]	$ 4,693	[2]	$ 249	[3]
Real Estate Construction and Land Loans
Allowance for Loan Losses
Beginning balance	$ 1,104		$ 1,206		1,375
Charge-offs					(23)
Recoveries					2
Provision for loan losses	$ (74)		$ (102)		(148)
Ending balance	$ 1,030		$ 1,104		$ 1,206
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	$ 1,030		$ 1,104		$ 1,206
Total loans	$ 91,153		$ 63,556		$ 46,981
Ending balance: individually evaluated for impairment, loans
Ending balance: collectively evaluated for impairment, loans	$ 91,153		$ 63,556		$ 46,641
Real Estate Construction and Land Loans | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality		[1]		[2]	$ 340	[3]
Installment/Consumer Loans
Allowance for Loan Losses
Beginning balance	$ 135		$ 201		228
Charge-offs	(2)		(2)		(53)
Recoveries	7		3		5
Provision for loan losses	(4)		(67)		21
Ending balance	$ 136		$ 135		$ 201
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	$ 136		$ 135		$ 201
Total loans	$ 17,596		$ 10,124		$ 9,287
Ending balance: individually evaluated for impairment, loans
Ending balance: collectively evaluated for impairment, loans	$ 17,596		$ 10,124		$ 9,287
Installment/Consumer Loans | Loans acquired with deteriorated credit quality
Allowance for Loan Losses
Beginning balance
Ending balance
Ending balance: loans acquired with deteriorated credit quality		[1]		[2]		[3]
[1]	Includes loans acquired on June 19, 2015 from CNB, on February 14, 2014 from FNBNY and on May 27, 2011 from HSB.
[2]	Includes loans acquired on February 14, 2014 from FNBNY and on May 27, 2011 from HSB
[3]	Includes loans acquired on May 27, 2011 from HSB

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loans by class categorized by internally assigned risk grades
Total loans	$ 2,407,522	$ 1,335,961	$ 1,011,525
Pass
Loans by class categorized by internally assigned risk grades
Total loans	2,380,596	1,305,616
Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	7,733	12,607
Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 19,193	$ 17,738
Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial real estate: Owner occupied
Loans by class categorized by internally assigned risk grades
Total loans	$ 471,321	$ 256,608
Commercial real estate: Owner occupied | Pass
Loans by class categorized by internally assigned risk grades
Total loans	465,967	243,512
Commercial real estate: Owner occupied | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	3,239	7,133
Commercial real estate: Owner occupied | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 2,115	$ 5,963
Commercial real estate: Owner occupied | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial real estate: Non-owner occupied
Loans by class categorized by internally assigned risk grades
Total loans	$ 582,078	$ 338,789
Commercial real estate: Non-owner occupied | Pass
Loans by class categorized by internally assigned risk grades
Total loans	573,049	334,790
Commercial real estate: Non-owner occupied | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	542	171
Commercial real estate: Non-owner occupied | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 8,487	$ 3,828
Commercial real estate: Non-owner occupied | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Multi-family
Loans by class categorized by internally assigned risk grades
Total loans	$ 350,793	$ 218,985	107,488
Multi-family | Pass
Loans by class categorized by internally assigned risk grades
Total loans	$ 350,785	217,855
Multi-family | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans		202
Multi-family | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 8	$ 928
Multi-family | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Residential real estate: Residential
Loans by class categorized by internally assigned risk grades
Total loans	$ 324,489	$ 90,018
Residential real estate: Residential | Pass
Loans by class categorized by internally assigned risk grades
Total loans	323,557	$ 88,405
Residential real estate: Residential | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	87
Residential real estate: Residential | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 845	$ 1,613
Residential real estate: Residential | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Residential real estate: Home equity
Loans by class categorized by internally assigned risk grades
Total loans	$ 68,326	$ 66,138
Residential real estate: Home equity | Pass
Loans by class categorized by internally assigned risk grades
Total loans	66,910	64,994
Residential real estate: Home equity | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	523	212
Residential real estate: Home equity | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 893	$ 932
Residential real estate: Home equity | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial: Secured
Loans by class categorized by internally assigned risk grades
Total loans	$ 123,737	$ 93,967
Commercial: Secured | Pass
Loans by class categorized by internally assigned risk grades
Total loans	121,037	91,007
Commercial: Secured | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	151	621
Commercial: Secured | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 2,549	$ 2,339
Commercial: Secured | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial: Unsecured
Loans by class categorized by internally assigned risk grades
Total loans	$ 378,029	$ 197,776
Commercial: Unsecured | Pass
Loans by class categorized by internally assigned risk grades
Total loans	370,642	191,942
Commercial: Unsecured | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	3,191	4,168
Commercial: Unsecured | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 4,196	$ 1,666
Commercial: Unsecured | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Real estate construction and land loans
Loans by class categorized by internally assigned risk grades
Total loans	$ 91,153	$ 63,556	46,981
Real estate construction and land loans | Pass
Loans by class categorized by internally assigned risk grades
Total loans	$ 91,153	$ 63,190
Real estate construction and land loans | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans
Real estate construction and land loans | Substandard
Loans by class categorized by internally assigned risk grades
Total loans		$ 366
Real estate construction and land loans | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Installment/consumer loans
Loans by class categorized by internally assigned risk grades
Total loans	$ 17,596	$ 10,124	$ 9,287
Installment/consumer loans | Pass
Loans by class categorized by internally assigned risk grades
Total loans	$ 17,496	9,921
Installment/consumer loans | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans		100
Installment/consumer loans | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	$ 100	$ 103
Installment/consumer loans | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	$ 964	$ 144
Nonaccrual Including 90 Days or More Past Due	1,350	1,347
Total Past Due and Nonaccrual	3,819	2,801
Current	2,403,703	1,333,160
Total loans	2,407,522	1,335,961	$ 1,011,525
30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	1,136	1,126
60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	369	$ 184
Commercial real estate: Owner occupied
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	435
Nonaccrual Including 90 Days or More Past Due	631	$ 595
Total Past Due and Nonaccrual	1,066	779
Current	470,255	255,829
Total loans	$ 471,321	$ 256,608
Commercial real estate: Owner occupied | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial real estate: Owner occupied | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		$ 184
Commercial real estate: Non-owner occupied
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing		10
Nonaccrual Including 90 Days or More Past Due		10
Total Past Due and Nonaccrual		201
Current	$ 582,078	338,588
Total loans	$ 582,078	338,789
Commercial real estate: Non-owner occupied | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		$ 181
Commercial real estate: Non-owner occupied | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Multi-Family
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due
Total Past Due and Nonaccrual
Current	$ 350,793	$ 218,985
Total loans	$ 350,793	$ 218,985	107,488
Multi-Family | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Multi-Family | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Residential real estate: Residential mortgage
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due	$ 62	$ 143
Total Past Due and Nonaccrual	1,246	143
Current	323,243	89,875
Total loans	324,489	$ 90,018
Residential real estate: Residential mortgage | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	939
Residential real estate: Residential mortgage | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	245
Residential real estate: Home equity
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	188	$ 134
Nonaccrual Including 90 Days or More Past Due	610	374
Total Past Due and Nonaccrual	967	1,427
Current	67,359	64,711
Total loans	68,326	66,138
Residential real estate: Home equity | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	69	$ 919
Residential real estate: Home equity | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	100
Commercial: Secured
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	$ 341
Nonaccrual Including 90 Days or More Past Due
Total Past Due and Nonaccrual	$ 341
Current	123,396	$ 93,967
Total loans	$ 123,737	$ 93,967
Commercial: Secured | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial: Secured | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial: Unsecured
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due	$ 44	$ 222
Total Past Due and Nonaccrual	196	247
Current	377,833	197,529
Total loans	378,029	197,776
Commercial: Unsecured | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	128	$ 25
Commercial: Unsecured | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	$ 24
Real estate construction and land loans
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due
Total Past Due and Nonaccrual
Current	$ 91,153	$ 63,556
Total loans	$ 91,153	$ 63,556	46,981
Real estate construction and land loans | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Real estate construction and land loans | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Installment/Consumer Loans
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due	$ 3	$ 3
Total Past Due and Nonaccrual	3	4
Current	17,593	10,120
Total loans	$ 17,596	10,124	$ 9,287
Installment/Consumer Loans | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		$ 1
Installment/Consumer Loans | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Recorded Investment
With no related allowance recorded	$ 2,079	$ 5,470	$ 7,291
With an allowance recorded	512	731	1,567
Total impaired loans	2,591	6,201	8,858
Unpaid Principal Balance
With no related allowance recorded	2,361	6,228	8,333
With an allowance recorded	512	751	1,582
Total impaired loans	2,873	6,979	9,915
Related Allocated Allowance
With an allowance recorded	29	174	238
Total impaired loans	29	174	238
Average Recorded Investment
With no related allowance recorded	2,140	5,717	7,444
With an allowance recorded	543	308	1,157
Average recorded investment in impaired loans	2,683	6,025	8,601
Interest Income Recognized
With no related allowance recorded	78	201	$ 289
With an allowance recorded	32	13
Total impaired loans	110	214	$ 289
Commercial real estate: Owner occupied
Recorded Investment
With no related allowance recorded	$ 384	$ 3,562	3,696
With an allowance recorded			720
Total impaired loans	$ 384	$ 3,562	4,416
Unpaid Principal Balance
With no related allowance recorded	$ 564	$ 3,707	3,805
With an allowance recorded			720
Total impaired loans	$ 564	$ 3,707	4,525
Related Allocated Allowance
With an allowance recorded			94
Total impaired loans			94
Average Recorded Investment
With no related allowance recorded	$ 412	$ 3,974	3,730
With an allowance recorded			420
Average recorded investment in impaired loans	$ 412	$ 3,974	4,150
Interest Income Recognized
With no related allowance recorded	$ 10	$ 113	$ 118
With an allowance recorded
Total impaired loans	$ 10	$ 113	$ 118
Commercial real estate: Non-owner occupied
Recorded Investment
With no related allowance recorded	927	1,251	917
With an allowance recorded	318	323	617
Total impaired loans	1,245	1,574	1,534
Unpaid Principal Balance
With no related allowance recorded	928	1,568	917
With an allowance recorded	318	323	617
Total impaired loans	1,246	1,891	1,534
Related Allocated Allowance
With an allowance recorded	20	23	22
Total impaired loans	20	23	22
Average Recorded Investment
With no related allowance recorded	938	961	917
With an allowance recorded	320	27	515
Average recorded investment in impaired loans	1,258	988	1,432
Interest Income Recognized
With no related allowance recorded	62	$ 63	$ 60
With an allowance recorded	15
Total impaired loans	77	$ 63	$ 60
Residential Real Estate Mortgage Loans
Average Recorded Investment
With no related allowance recorded	$ 66
With an allowance recorded
Average recorded investment in impaired loans	$ 66
Interest Income Recognized
With no related allowance recorded
With an allowance recorded
Total impaired loans
Residential real estate: Residential mortgage
Recorded Investment
With no related allowance recorded	$ 62	$ 143	1,463
With an allowance recorded			152
Total impaired loans	$ 62	$ 143	1,615
Unpaid Principal Balance
With no related allowance recorded	$ 73	$ 231	2,213
With an allowance recorded			156
Total impaired loans	$ 73	$ 231	2,369
Related Allocated Allowance
With an allowance recorded			42
Total impaired loans			42
Average Recorded Investment
With no related allowance recorded		$ 199	1,482
With an allowance recorded			141
Average recorded investment in impaired loans		$ 199	1,623
Interest Income Recognized
With no related allowance recorded			$ 26
With an allowance recorded
Total impaired loans			$ 26
Residential real estate: Home equity
Recorded Investment
With no related allowance recorded	$ 610	$ 169	689
With an allowance recorded		71	78
Total impaired loans	$ 610	240	767
Unpaid Principal Balance
With no related allowance recorded	$ 700	377	1,046
With an allowance recorded		89	89
Total impaired loans	$ 700	466	1,135
Related Allocated Allowance
With an allowance recorded		72	80
Total impaired loans		72	80
Average Recorded Investment
With no related allowance recorded	$ 631	229	633
With an allowance recorded		75	81
Average recorded investment in impaired loans	$ 631	$ 304	$ 714
Interest Income Recognized
With no related allowance recorded
With an allowance recorded		$ 13
Total impaired loans		13
Commercial: Secured
Recorded Investment
With no related allowance recorded	$ 96	$ 345	$ 352
With an allowance recorded
Total impaired loans	$ 96	$ 345	352
Unpaid Principal Balance
With no related allowance recorded	$ 96	$ 345	352
With an allowance recorded
Total impaired loans	$ 96	$ 345	$ 352
Related Allocated Allowance
With an allowance recorded
Total impaired loans
Average Recorded Investment
With no related allowance recorded	$ 93	$ 354	$ 450
With an allowance recorded
Average recorded investment in impaired loans	$ 93	$ 354	450
Interest Income Recognized
With no related allowance recorded	$ 6	$ 25	26
With an allowance recorded
Total impaired loans	$ 6	$ 25	26
Commercial: Unsecured
Recorded Investment
With no related allowance recorded			174
With an allowance recorded	$ 194	$ 337
Total impaired loans	$ 194	$ 337	$ 174
Unpaid Principal Balance
With no related allowance recorded
With an allowance recorded	$ 194	$ 339
Total impaired loans	194	339
Related Allocated Allowance
With an allowance recorded	9	79
Total impaired loans	$ 9	$ 79
Average Recorded Investment
With no related allowance recorded			$ 232
With an allowance recorded	$ 223	$ 206
Average recorded investment in impaired loans	$ 223	$ 206	232
Interest Income Recognized
With no related allowance recorded			59
With an allowance recorded	$ 17
Total impaired loans	$ 17		$ 59

LOANS (Details 5)

LOANS (Details 5) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)contract	Dec. 31, 2014USD ($)contract	Dec. 31, 2013USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	3	4	3
Pre-Modification Outstanding Recorded Investment	$ 160	$ 582	$ 1,373
Post-Modification Outstanding Recorded Investment	$ 160	$ 582	$ 1,373
Commercial real estate: Owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract			1
Pre-Modification Outstanding Recorded Investment			$ 720
Post-Modification Outstanding Recorded Investment			$ 720
Commercial real estate: Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		1	1
Pre-Modification Outstanding Recorded Investment		$ 323	$ 620
Post-Modification Outstanding Recorded Investment		$ 323	$ 620
Residential real estate: Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		1
Pre-Modification Outstanding Recorded Investment		$ 127
Post-Modification Outstanding Recorded Investment		$ 127
Commercial: Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	3	1	1
Pre-Modification Outstanding Recorded Investment	$ 160	$ 127	$ 33
Post-Modification Outstanding Recorded Investment	$ 160	$ 127	$ 33
Installment/Consumer Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		1
Pre-Modification Outstanding Recorded Investment		$ 5
Post-Modification Outstanding Recorded Investment		$ 5

LOANS (Details 6)

LOANS (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Activity in the accretable yield for the purchased credit impaired loans
Balance at the beginning of the period	$ 8,432
Accretable discount arising from acquisition of PCI loans	259	$ 6,580
Accretion	(3,570)	(1,598)
Reclassification from (to) nonaccretable difference during the period	1,992	3,450
Accretable discount at end of period	$ 7,113	$ 8,432

LOANS (Details 7)

LOANS (Details 7) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at January 1, 2015	$ 2,759
New loans
Effective change in related parties	$ 20,118
Advances	13
Repayments	(101)
Balance at December 31, 2015	$ 22,789

LOANS (Detail Textuals)

LOANS (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Family	Jun. 19, 2015USD ($)	Dec. 31, 2014USD ($)	Feb. 14, 2014USD ($)
CNB
Classifications of loans
Addition in acquired loans recorded at fair value		$ 733,986
Fair value of loans acquired	$ 659,700
FNBNY
Classifications of loans
Addition in acquired loans recorded at fair value				$ 89,714
Fair value of loans acquired	37,700		$ 64,900
Commercial real estate mortgage loans | Minimum
Lending Risk
Loan amount beyond which annual financial information is sought	$ 250
Multi-family mortgage loans | Minimum
Lending Risk
Number of families having income producing residential investment properties | Family	5
Multi-family mortgage loans | Maximum
Lending Risk
Loan-to-value ratio (as a percent)	75.00%
Residential real estate: Home equity | Minimum
Lending Risk
Loan-to-value ratio (as a percent)	80.00%

LOANS (Detail Textuals 1)

LOANS (Detail Textuals 1) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)contract
Troubled Debt Restructurings
Total loans	$ 2,407,522	$ 1,335,961	$ 1,011,525
Impaired loans	2,600	6,200
Other real estate owned	250
Charge offs relating to TDRs	$ 700	500
Number of loans modified as TDRs for which there was a payment default within twelve months following the modification | contract			1
Period of modified contractually past due loans to be considered as payment default	30 days
Nonaccrual troubled debt restructured loans	$ 100	500
Amount of current and performing TDR loans	1,700	5,000
Appraised value of collateral for nonaccrual TDR loans	300	900
Post-Modification of other than troubled debt restructuring, recorded investment	11,000
Special Mention
Troubled Debt Restructurings
Total loans	7,733	12,607
Substandard
Troubled Debt Restructurings
Total loans	19,193	17,738
FNBNY
Acquired Loans
Contractually required principal and interest payments receivable	40,300
Expected cash flows	28,400
Fair value (initial carrying amount) of purchased credit impaired loans	21,800
Non-accretable difference	11,900
Initial accretable yield	6,600
Outstanding balance of purchased credit impaired loans	13,900
Carrying amount of purchased credit impaired loans	8,300
Remaining non-accretable difference	1,500
FNBNY | Special Mention
Troubled Debt Restructurings
Total loans	100	300
FNBNY | Substandard
Troubled Debt Restructurings
Total loans	200	$ 1,500
CNB
Acquired Loans
Contractually required principal and interest payments receivable	8,200
Expected cash flows	3,000
Fair value (initial carrying amount) of purchased credit impaired loans	2,700
Non-accretable difference	5,200
Initial accretable yield	300
Outstanding balance of purchased credit impaired loans	8,200
Carrying amount of purchased credit impaired loans	2,800
Remaining non-accretable difference	5,200
CNB | 30-59 Days Past Due
Troubled Debt Restructurings
Acquired loans	1,200
CNB | Special Mention
Troubled Debt Restructurings
Total loans	20
CNB | Substandard
Troubled Debt Restructurings
Total loans	$ 9,600

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
PREMISES AND EQUIPMENT
Land	$ 7,381	$ 7,381
Building and improvements	14,839	14,829
Furniture, fixtures and equipment	22,292	19,134
Leasehold improvements	17,887	11,243
Gross	62,399	52,587
Less: accumulated depreciation and amortization	(22,804)	(20,163)
Total	$ 39,595	$ 32,424

PREMISES AND EQUIPMENT (Detail

PREMISES AND EQUIPMENT (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
PREMISES AND EQUIPMENT
Depreciation, Depletion and Amortization	$ 3.6	$ 2.6	$ 2

GOODWILL AND OTHER INTANGIBLE68

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Balance at January 1	$ 9,450	$ 2,034
Acquired goodwill	$ 88,995	$ 7,416
Impairment
Balance at December 31	$ 98,445	$ 9,450

GOODWILL AND OTHER INTANGIBLE69

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized intangible assets:
Gross Carrying Amount	$ 9,399	$ 1,311
Accumulated Amortization	1,916	469
Core deposit intangibles
Amortized intangible assets:
Gross Carrying Amount	7,211	1,311
Accumulated Amortization	1,186	$ 469
Non-compete intangible
Amortized intangible assets:
Gross Carrying Amount	2,188
Accumulated Amortization	$ 730

GOODWILL AND OTHER INTANGIBLE70

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 2,272
2,017	1,412
2,018	916
2,019	786
2,020	656
Thereafter	1,441
Estimated amortization expense	$ 7,483

GOODWILL AND OTHER INTANGIBLE71

GOODWILL AND OTHER INTANGIBLE ASSETS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Aggregate amortization expense	$ 1,447	$ 300	$ 59

DEPOSITS (Details)

DEPOSITS (Details) $ in Thousands	Dec. 31, 2015USD ($)
DEPOSITS
2,016	$ 185,650
2,017	54,871
2,018	25,832
2,019	20,255
2,020	6,247
Total	$ 292,855

DEPOSITS (Detail Textuals)

DEPOSITS (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Time deposits
Deposits from principal officers, directors and their affiliates	$ 13.3	$ 2.6
$100,000 or Greater
Time deposits
Deposits in excess of the FDIC limit	$ 52	$ 27.6

SECURITIES SOLD UNDER AGREEME74

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Details) - Securities sold under agreement to repurchase - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Securities sold under agreements to repurchase
Average daily balance during the year	$ 30,317	$ 14,185
Average interest rate during the year (as a percent)	0.65%	2.71%
Maximum month-end balance during the year	$ 51,400	$ 36,879
Weighted average interest rate at year-end (as a percent)	0.64%	2.67%

SECURITIES SOLD UNDER AGREEME75

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Securities sold under agreements to repurchase
Securities sold under agreements to repurchase	$ 50,891	$ 36,263
Carrying amount of U.S. GSE, mortgage-backed securities and collateralized mortgage obligations that serve as securities under repurchase agreements	55,900	$ 40,300
First quarter of 2016
Securities sold under agreements to repurchase
Securities sold under agreements to repurchase	900
Fourth quarter of 2016
Securities sold under agreements to repurchase
Securities sold under agreements to repurchase	$ 50,000

FEDERAL HOME LOAN BANK ADVANC76

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Contractual Maturity, Amount
Overnight		$ 69,000
2,015		41,508
2,016	$ 249,599	11,703
2,017	19,149
2,018	25,781	16,116
2,019	2,978
Total FHLB advances except overnight advances	297,507	69,327
Total FHLB advances	$ 297,507	$ 138,327
Weighted Average Rate
Overnight (as a percent)		0.32%
2015 (as a percent)		0.37%
2016 (as a percent)	0.75%	0.69%
2017 (as a percent)	0.74%
2018 (as a percent)	1.04%	1.00%
2019 (as a percent)	1.08%
Weighted Average Rate for total FHLB advances except overnight advances (as a percent)	0.78%	0.57%
Weighted Average Rate for total FHLB advances (as a percent)	0.78%	0.44%

FEDERAL HOME LOAN BANK ADVANC77

FEDERAL HOME LOAN BANK ADVANCES (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Advances collateralized amount	$ 666.3	$ 385.2
Maximum borrowing amount from FHLB term advances	$ 1,100

BORROWED FUNDS (Detail Textuals

BORROWED FUNDS (Detail Textuals) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 80
Subordinated Debentures | Callable after five years
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 40
Fixed annual interest rate	5.25%
Debt instrument variable rate description	three-month LIBOR
Basis points	3.60%
Subordinated Debentures | Callable after ten years
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 40
Fixed annual interest rate	5.75%
Debt instrument variable rate description	three-month LIBOR
Basis points	3.45%

BORROWED FUNDS (Detail Textua79

BORROWED FUNDS (Detail Textuals 1) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2015	Dec. 31, 2014
Junior subordinated debentures
Amount of debentures issued to trust		$ 15,878	$ 15,873
Bridge Statutory Capital Trust II
Junior subordinated debentures
Aggregate liquidation amount of trust preferred securities issued	$ 16,000
Distribution rate of trust preferred securities (as a percent)	8.50%
Liquidation amount per security (in dollars per share)	$ 1,000
Effective conversion price (in dollars per share)	$ 31
Maturity period	30 years
Junior Subordinated Debentures
Junior subordinated debentures
Amount of debentures issued to trust		$ 16,000
Fixed interest rate of debentures		8.50%
Junior Subordinated Debentures | Maximum
Junior subordinated debentures
Period of interest payments that may deferred		5 years

DERIVATIVES (Details)

DERIVATIVES (Details) - Interest rate swaps - Derivative designated as a cash flow hedge - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivatives
Notional amounts	$ 125	$ 75
Weighted average pay rates (as a percent)	1.58%	1.39%
Weighted average receive rates (as a percent)	0.51%	0.24%
Weighted average maturity	3 years 2 months 19 days	3 years 10 months 10 days

DERIVATIVES (Details 2)

DERIVATIVES (Details 2) - Derivative designated as a cash flow hedge - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Net gains (losses) recorded in accumulated other comprehensive income and the Consolidated Statements of Income
Interest rate contracts, Amount of gain (loss) recognized in OCI (Effective Portion)	$ (1,008)	$ (1,249)
Interest rate contracts, Amount of gain (loss) reclassified from OCI to interest expense	$ (657)	$ (470)
Interest rate contracts, Amount of gain (loss) recognized in other Non-interest income (Ineffective Portion)

DERIVATIVES (Details 3)

DERIVATIVES (Details 3) - Derivative designated as a cash flow hedge - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Interest rate swaps related to FHLB Advances
Included in other assets/(liabilities):
Notional Amount	$ 100,000	$ 40,000
Fair value asset	14	32
Fair value liability	$ (713)	(280)
Forward starting interest rate swap related to repurchase agreements
Included in other assets/(liabilities):
Notional Amount		$ 10,000
Fair value asset
Fair value liability		$ (445)
Forward starting interest rate swap related to FHLB advances
Included in other assets/(liabilities):
Notional Amount	$ 25,000	$ 25,000
Fair value asset
Fair value liability	$ (595)	$ (250)

DERIVATIVES (Details 4)

DERIVATIVES (Details 4) - Interest rate swaps - Non-Designated Hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivatives
Notional amounts	$ 56,328	$ 11,175
Weighted average pay rates (as a percent)	3.39%	3.28%
Weighted average receive rates (as a percent)	3.39%	3.28%
Weighted average maturity	3 years 4 months 21 days	9 years 7 months 21 days
Fair value of combined interest rate swaps

DERIVATIVES (Detail Textuals)

DERIVATIVES (Detail Textuals) - Interest rate swaps - Derivative designated as a cash flow hedge - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivatives
Notional amounts		$ 125,000,000	$ 75,000,000
Derivative liability position net		2,200,000
Derivative collateral		1,900,000
Federal Home Loan Bank
Derivatives
Interest Expense on Interest Rate Derivative		$ 657,000	$ 470,000
Federal Home Loan Bank | Forecast
Derivatives
Interest Expense on Interest Rate Derivative	$ 762,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 8,248	$ 3,926	$ 5,500
State	1,230	507	664
Total current	9,478	4,433	6,164
Deferred:
Federal	1,457	2,187	403
State	(157)	619	102
Total deferred	1,300	2,806	505
Income tax expense	$ 10,778	$ 7,239	$ 6,669

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amount
Federal income tax expense computed by applying the statutory rate to income before income taxes	$ 11,161	$ 7,141	$ 6,828
Tax exempt interest	(927)	(665)	(740)
State taxes, net of federal income tax benefit	1,087	743	502
Other	(543)	20	79
Income tax expense	$ 10,778	$ 7,239	$ 6,669
Percentage of Pre-tax Earnings
Federal income tax expense computed by applying the statutory rate to income before income taxes (as a percent)	35.00%	34.00%	34.00%
Tax exempt interest (as a percent)	(3.00%)	(3.00%)	(4.00%)
State taxes, net of federal income tax benefit (as a percent)	3.00%	4.00%	3.00%
Other (as a percent)	(1.00%)		1.00%
Income tax expense (as a percent)	34.00%	35.00%	34.00%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Allowance for loan losses	$ 9,034	$ 7,311
Net unrealized losses on securities	3,224	2,177
Restricted stock awards	1,435	1,003
Purchase accounting fair value adjustments	15,942	8,321
Net change in pension liability	2,811	2,985
Net operating loss carryforward	1,955	2,063
Net loss on cash flow hedge	524	374
Other	792	351
Total	35,717	24,585
Deferred tax liabilities:
Pension and SERP expense	(4,142)	(3,765)
Depreciation	(1,828)	(1,832)
REIT undistributed net income	(482)	(628)
Net deferred loan costs and fees	(1,416)	(981)
Other	(1,541)	(707)
Total	(9,409)	(7,913)
Net deferred tax asset	$ 26,308	$ 16,672

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) $ in Millions	Dec. 31, 2015USD ($)
INCOME TAXES
NOL carryforward	$ 4.5

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	$ 18,960	$ 13,243
Service cost	1,134	905	$ 931
Interest cost	706	639	564
Benefits paid and expected expenses	(264)	(282)
Assumption changes and other	$ (2,021)	$ 4,455
Plan amendment
Benefit obligation at end of year	$ 18,515	$ 18,960	13,243
Change in plan assets, at fair value:
Plan assets at beginning of year	23,887	21,828
Actual return on plan assets	(60)	981
Employer contribution	999	1,361
Benefits paid and actual expenses	(264)	(283)
Plan assets at end of year	24,562	23,887	21,828
Funded status (plan assets less benefit obligations)	6,047	4,927
SERP Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	2,457	1,919
Service cost	168	132	149
Interest cost	91	88	76
Benefits paid and expected expenses	(112)	(112)
Assumption changes and other	$ (49)	$ 430
Plan amendment
Benefit obligation at end of year	$ 2,555	$ 2,457	$ 1,919
Change in plan assets, at fair value:
Plan assets at beginning of year
Actual return on plan assets
Employer contribution	$ 112	$ 112
Benefits paid and actual expenses	$ (112)	$ (112)
Plan assets at end of year
Funded status (plan assets less benefit obligations)	$ (2,555)	$ (2,457)

EMPLOYEE BENEFITS (Details 1)

EMPLOYEE BENEFITS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amounts recognized in accumulated other comprehensive income
Net amount recognized	$ (4,111)	$ (4,491)
Pension Benefits
Amounts recognized in accumulated other comprehensive income
Net actuarial loss	7,108	7,631
Prior service cost	$ (792)	$ (869)
Transition obligation
Plan amendment
Net amount recognized	$ 6,316	$ 6,762
SERP Benefits
Amounts recognized in accumulated other comprehensive income
Net actuarial loss	$ 546	$ 628
Prior service cost
Transition obligation	$ 60	$ 87
Plan amendment
Net amount recognized	$ 606	$ 715

EMPLOYEE BENEFITS (Details 2)

EMPLOYEE BENEFITS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income
Total recognized in other comprehensive income, before tax	$ (196)	$ 5,529	$ (2,871)
Total recognized in other comprehensive income	(380)	3,348	(1,907)
Pension Benefits
Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income
Service cost	1,134	905	931
Interest cost	706	639	564
Expected return on plan assets	(1,838)	(1,625)	(1,385)
Amortization of net loss	376	27	325
Amortization of unrecognized prior service cost	$ (77)	$ (77)	$ (77)
Amortization of unrecognized transition (asset) obligation
Net periodic benefit cost (credit)	$ 301	$ (131)	$ 358
Net (gain) loss	$ (123)	$ 5,099	$ (2,677)
Prior service cost
Transition obligation
Amortization of net loss	$ (376)	$ (27)	$ (325)
Amortization of prior service cost	$ 77	$ 77	$ 77
Amortization of transition obligation
Total recognized in other comprehensive income, before tax	$ (422)	$ 5,149	$ (2,925)
Deferred taxes	141	(2,044)	1,161
Total recognized in other comprehensive income	(281)	3,105	(1,764)
Total recognized in net periodic benefit cost and other comprehensive income	20	2,974	(1,406)
SERP Benefits
Components of net periodic benefit cost and other amounts recognized in Other Comprehensive Income
Service cost	168	132	149
Interest cost	$ 91	$ 88	$ 76
Expected return on plan assets
Amortization of net loss	$ 32
Amortization of unrecognized prior service cost
Amortization of unrecognized transition (asset) obligation	$ 28	$ 28	$ 43
Net periodic benefit cost (credit)	319	248	268
Net (gain) loss	$ (48)	$ 430	$ (193)
Prior service cost
Transition obligation
Amortization of net loss	$ (32)
Amortization of prior service cost
Amortization of transition obligation	$ (27)	$ (27)	$ (43)
Total recognized in other comprehensive income, before tax	(107)	403	(236)
Deferred taxes	33	(160)	93
Total recognized in other comprehensive income	(74)	243	(143)
Total recognized in net periodic benefit cost and other comprehensive income	$ 245	$ 491	$ 125

EMPLOYEE BENEFITS (Details 3)

EMPLOYEE BENEFITS (Details 3)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Weighted Average Assumptions Used to Determine Benefit Obligations
Discount rate (as a percent)	4.30%	3.90%	4.90%
Rate of compensation increase (as a percent)	3.00%	3.00%	3.00%
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate (as a percent)	3.90%	4.90%	4.20%
Rate of compensation increase (as a percent)	3.00%	3.00%	3.00%
Expected long-term rate of return (as a percent)	7.50%	7.50%	7.50%
SERP Benefits
Weighted Average Assumptions Used to Determine Benefit Obligations
Discount rate (as a percent)	4.20%	3.80%	4.70%
Rate of compensation increase (as a percent)	5.00%	5.00%	5.00%
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate (as a percent)	3.80%	4.70%	3.90%
Rate of compensation increase (as a percent)	5.00%	5.00%	5.00%
Expected long-term rate of return (as a percent)

EMPLOYEE BENEFITS (Details 4)

EMPLOYEE BENEFITS (Details 4)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Target allocations for Plan assets
Percentage of Plan Assets	100.00%	100.00%
Weighted-Average Expected Long-term Rate of Return (as a percent)	7.50%
Cash Equivalents
Target allocations for Plan assets
Target Allocation, minimum (as a percent)	0.00%
Target Allocation, maximum (as a percent)	5.00%
Percentage of Plan Assets	4.60%	4.10%
Weighted-Average Expected Long-term Rate of Return (as a percent)
Equity Securities
Target allocations for Plan assets
Target Allocation, minimum (as a percent)	45.00%
Target Allocation, maximum (as a percent)	65.00%
Percentage of Plan Assets	62.20%	62.10%
Weighted-Average Expected Long-term Rate of Return (as a percent)	4.90%
Fixed income securities
Target allocations for Plan assets
Target Allocation, minimum (as a percent)	35.00%
Target Allocation, maximum (as a percent)	55.00%
Percentage of Plan Assets	33.20%	33.80%
Weighted-Average Expected Long-term Rate of Return (as a percent)	2.60%

EMPLOYEE BENEFITS (Details 5)

EMPLOYEE BENEFITS (Details 5) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Employee benefits
Total plan assets	$ 24,562	$ 23,887	$ 21,828
Carrying Amount | Recurring basis
Employee benefits
Total plan assets	24,562	23,887
Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	17,385	14,877
Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	7,177	9,011
Cash Equivalents | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	1,150	979
Cash Equivalents | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	1,129	15
Cash Equivalents | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	21	964
Cash | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	1,129	15
Cash | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 1,129	$ 15
Cash | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
Short term investment funds | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 21	$ 964
Short term investment funds | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets
Short term investment funds | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	$ 21	$ 964
Equity Securities | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	15,272	14,861
Equity Securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 15,272	$ 14,862
Equity Securities | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
U.S. Large cap | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 7,472	$ 9,918
U.S. Large cap | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 7,472	$ 9,919
U.S. Large cap | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
U.S. Mid cap/small cap | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 2,259
U.S. Mid cap/small cap | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 2,259
U.S. Mid cap/small cap | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
U.S. Mid cap | Carrying Amount | Recurring basis
Employee benefits
Total plan assets		$ 800
U.S. Mid cap | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets		$ 800
U.S. Mid cap | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
U.S. Small cap | Carrying Amount | Recurring basis
Employee benefits
Total plan assets		$ 782
U.S. Small cap | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets		$ 782
U.S. Small cap | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
Equity blend | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 1,151
Equity blend | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 1,151
Equity blend | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
International | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 4,390	$ 3,361
International | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	$ 4,390	$ 3,361
International | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
Fixed income securities | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 8,140	$ 8,047
Fixed income securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	984
Fixed income securities | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	7,156	$ 8,047
Government issues | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	1,329	$ 1,413
Government issues | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	984
Government issues | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	345	$ 1,413
Corporate bonds | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 1,308	$ 1,220
Corporate bonds | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets
Corporate bonds | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	$ 1,308	$ 1,220
Mortgage backed | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 562	$ 533
Mortgage backed | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets
Mortgage backed | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	$ 562	$ 533
High yield bonds and bond funds | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	$ 4,941	$ 4,881
High yield bonds and bond funds | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets
High yield bonds and bond funds | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	$ 4,941	$ 4,881

EMPLOYEE BENEFITS (Details 6)

EMPLOYEE BENEFITS (Details 6) $ in Thousands	Dec. 31, 2015USD ($)
Estimated future pension and SERP payments
2,016	$ 506
2,017	568
2,018	663
2,019	733
2,020	899
2021-2025	$ 5,913

EMPLOYEE BENEFITS (Details 7)

EMPLOYEE BENEFITS (Details 7) - Stock options $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Number of Options
Outstanding at the beginning of the period (in shares)	39,870
Granted (in shares)
Exercised (in shares)	(14,014)
Forfeited (in shares)
Expired (in shares)	(2,131)
Outstanding at the end of the period (in shares)	23,725
Vested and Exercisable at the end of the period (in shares)	23,725
Weighted Average Exercise Price
Outstanding at beginning of the period (in dollars per share) | $ / shares	$ 25.63
Exercised (in dollars per share) | $ / shares	$ 25.53
Forfeited (in dollars per share) | $ / shares
Expired (in dollars per share) | $ / shares	$ 30.60
Outstanding at the end of the period (in dollars per share) | $ / shares	25.25
Vested and Exercisable at the end of the period (in dollars per share) | $ / shares	$ 25.25
Weighted Average Remaining Contractual Life
Outstanding at the end of the period (in years)	10 months 28 days
Vested and Exercisable at the end of the period (in years)	10 months 28 days
Aggregate Intrinsic Value
Outstanding at the end of the period | $	$ 123
Vested and Exercisable at the end of the period | $	$ 123

EMPLOYEE BENEFITS (Details 8)

EMPLOYEE BENEFITS (Details 8)	Dec. 31, 2015$ / sharesshares
Stock options outstanding by range of exercise prices
Number of options (in shares)	23,725
Stock options | Exercise Price Range, one
Stock options outstanding by range of exercise prices
Number of options (in shares)	23,725
Exercise Price (in dollars per share) | $ / shares	$ 25.25

EMPLOYEE BENEFITS (Details 9)

EMPLOYEE BENEFITS (Details 9) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of activity related to the stock options
Cash received from options exercised	$ 80	$ 7	$ 4
Stock options
Summary of activity related to the stock options
Intrinsic value of options exercised	52	3	4
Cash received from options exercised	$ 80	$ 7	$ 4
Tax benefit realized from option exercises
Weighted average fair value of options granted

EMPLOYEE BENEFITS (Details 10)

EMPLOYEE BENEFITS (Details 10) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Shares
Unvested at the beginning of the period (in shares)	248,444
Granted (in shares)	71,187	80,273	72,940
Vested (in shares)	(33,586)
Forfeited (in shares)	(4,969)
Unvested at the end of the period (in shares)	281,076	248,444
Weighted Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share)	$ 22.48
Granted (in dollars per share)	26.33
Vested (in dollars per share)	21.79
Forfeited (in dollars per share)	26.61
Unvested at the end of the period (in dollars per share)	$ 23.46	$ 22.48

EMPLOYEE BENEFITS (Detail Textu

EMPLOYEE BENEFITS (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Investments for long-term growth (as a percent)	97.00%
Investments for near-term benefit payments (as a percent)	3.00%
Cumulative historical returns for the S&P 500 index (as a percent)	10.10%
Cumulative historical returns for the long term U.S. government bonds (as a percent)	5.00%
Pension Benefits
Employee benefits
Accumulated benefit obligation	$ 17,100,000	$ 16,700,000
Amortization from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Estimated net loss	400,000
Estimated transition obligation	0
Estimated prior service costs	77,000
SERP Benefits
Employee benefits
Accumulated benefit obligation	1,900,000	$ 1,900,000
Amortization from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Estimated net loss	27,000
Estimated transition obligation	$ 28,000

EMPLOYEE BENEFITS (Detail Te101

EMPLOYEE BENEFITS (Detail Textuals 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
401(k) Plan
Cash contributions by the Bank	$ 623,000	$ 530,000	$ 466,000
Discretionary profit sharing contribution	$ 276,000	$ 247,000
Shares of common stock approved for issuance under the Plan	803,385
Shares available for issuance	581,369
2012 Plan
401(k) Plan
Shares of common stock approved for issuance under the Plan	525,000
2006 Plan
401(k) Plan
Shares available for issuance	278,385

EMPLOYEE BENEFITS (Detail Te102

EMPLOYEE BENEFITS (Detail Textuals 2) - Restricted stock - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Compensation expense	$ 1,266,000	$ 1,087,000	$ 1,152,000
Total fair value of shares vested	732,000	$ 579,000	$ 1,065,000
Total unrecognized compensation costs	$ 4,124,000
Weighted-average period over which cost expected to be recognized	4 years 2 months 1 day
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	71,187	80,273	72,940
Seven year specified vesting schedule | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	30,625	53,425	51,175
Vesting period (in years)	7 years	7 years	7 years
Year in vesting schedule in which one-third of the awards vest, period one	5 years	5 years	5 years
Year in vesting schedule in which one-third of the awards vest, period two	6 years	6 years	6 years
Year in vesting schedule in which one-third of the awards vest, period three	7 years	7 years	7 years
Five year specified vesting schedule | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	24,812	20,598	12,652
Vesting period (in years)	5 years	5 years	5 years
Year in vesting schedule in which one-third of the awards vest, period one	3 years	3 years	3 years
Year in vesting schedule in which one-third of the awards vest, period two	4 years	4 years	4 years
Year in vesting schedule in which one-third of the awards vest, period three	5 years	5 years	5 years
Five year ratable vesting | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	10,550		9,113
Vesting period (in years)	5 years		5 years
Three year ratable vesting | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	4,000
Vesting period (in years)	3 years
Two year ratable vesting | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Numbers of shares expected to vest	1,200	6,250
Vesting period (in years)	2 years	2 years

EMPLOYEE BENEFITS (Detail Te103

EMPLOYEE BENEFITS (Detail Textuals 3) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
LTI Plan | Restricted stock units
Deferred compensation plan
Percentage Of Restricted Stock Units Time Vested	40.00%
Vesting period (in years)	5 years
Additional holding period of RSU's	2 years
Compensation expense	$ 81,000,000
LTI Plan | Restricted Stock Units Performance Vested Awards
Deferred compensation plan
Percentage Of Restricted Stock Units Performance Vested	60.00%
Vesting period (in years)	3 years
Directors | Restricted stock units
Deferred compensation plan
Vesting period (in years)	1 year
Deferred compensation expense	$ 342,000	$ 147,000	$ 144,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
EARNINGS PER SHARE
Net Income	$ 21,111	$ 13,763	$ 13,093
Less: Dividends paid on and earnings allocated to participating securities	(451)	(319)	(329)
Income attributable to common stock	$ 20,660	$ 13,444	$ 12,764
Weighted average common shares outstanding, including participating securities	14,792	11,633	9,622
Less: weighted average participating securities (in shares)	(319)	(278)	(242)
Weighted average common shares outstanding	14,473	11,355	9,380
Basic earnings per common share (in dollars per share)	$ 1.43	$ 1.18	$ 1.36
Income attributable to common stock	$ 20,660	$ 13,444	$ 12,764
Weighted average common shares outstanding	14,473	11,355	9,380
Weighted average common equivalent shares outstanding	4
Weighted average common and equivalent shares outstanding	14,477	11,355	9,380
Diluted earnings per common share (in dollars per share)	$ 1.43	$ 1.18	$ 1.36

EARNINGS PER SHARE (Detail Text

EARNINGS PER SHARE (Detail Textuals) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock options
Antidilutive securities
Securities not included in the computation of diluted earnings per share (in shares)	0	39,870	45,395
Convertible trust preferred securities
Antidilutive securities
Securities not included in the computation of diluted earnings per share (in shares)	16,000,000	16,000,000	16,000,000

COMMITMENTS AND CONTINGENCIE106

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Details) $ in Thousands	Dec. 31, 2015USD ($)
Projected minimum rentals under existing operating leases
2,016	$ 6,710
2,017	6,621
2,018	5,787
2,019	5,287
2,020	4,638
Thereafter	21,854
Total minimum rentals	$ 50,897

COMMITMENTS AND CONTINGENCIE107

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Details 1) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Commitments outstanding
Total commitments outstanding		$ 479,560	$ 248,328
Standby letters of credit
Commitments outstanding
Total commitments outstanding		14,930	1,903
Loan commitments outstanding
Commitments outstanding
Total commitments outstanding	[1]	46,034	58,930
Unused lines of credit
Commitments outstanding
Total commitments outstanding		$ 418,596	$ 248,328
[1]	Of the $46.0 million of loan commitments outstanding at December 31, 2014, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments.

COMMITMENTS AND CONTINGENCIE108

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Parentheticals) (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments outstanding		$ 479,560	$ 248,328
Fixed rate loan commitments outstanding		13,100
Variable rate loan commitments outstanding		32,900
Loan commitments outstanding
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments outstanding	[1]	$ 46,034	$ 58,930
[1]	Of the $46.0 million of loan commitments outstanding at December 31, 2014, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments.

COMMITMENTS AND CONTINGENCIE109

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies [Line Items]
Rental expenses under leases	$ 5,300	$ 3,400	$ 2,300
Securities sold under agreements to repurchase	50,891	$ 36,263
Bridgehampton National Bank
Commitments and Contingencies [Line Items]
Required cash balance with Federal Reserve Bank of New York	2,700
Average balance maintained	14,300
Lines of credit outstanding	120,000
Amount available for transactions under Master Repurchase Agreement	11,000,000
Bridgehampton National Bank | Overnight line of credit with the Federal Home Loan Bank of New York
Commitments and Contingencies [Line Items]
Lines of credit with unaffiliated correspondent banks to provide short-term credit	295,000
Lines of credit available on an unsecured basis	$ 275,000

ESTIMATED FAIR VALUE OF FINANCI

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets measured at fair value on recurring basis
Available for sale securities	$ 800,203	$ 587,184
U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	62,674	95,425
State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	87,935	63,693
U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	200,264	101,425
U.S. GSE residential collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	317,878	258,599
U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	12,418	2,945
U.S. GSE commercial collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	64,198	24,082
Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,371	23,037
Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	32,465	17,978
Carrying Value
Assets measured at fair value on recurring basis
Available for sale securities	800,203	587,184
Financial Assets: Derivatives	779	280
Recurring basis | Carrying Value
Assets measured at fair value on recurring basis
Available for sale securities	800,203	587,184
Recurring basis | Carrying Value | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	62,674	95,425
Recurring basis | Carrying Value | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	87,935	63,693
Recurring basis | Carrying Value | U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	200,264	101,425
Recurring basis | Carrying Value | U.S. GSE residential collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	317,878	258,599
Recurring basis | Carrying Value | U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	12,418	2,945
Recurring basis | Carrying Value | U.S. GSE commercial collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	64,198	24,082
Recurring basis | Carrying Value | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,371	23,037
Recurring basis | Carrying Value | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	32,465	17,978
Recurring basis | Carrying Value | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives	779	280
Financial Liabilities:
Financial Liabilities: Derivatives	$ 2,073	$ 1,223
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1)
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | U.S. GSE residential collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | U.S. GSE commercial collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1) | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives
Financial Liabilities:
Financial Liabilities: Derivatives
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets measured at fair value on recurring basis
Available for sale securities	$ 800,203	$ 587,184
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	62,674	95,425
Recurring basis | Significant Other Observable Inputs (Level 2) | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	87,935	63,693
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	200,264	101,425
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE residential collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	317,878	258,599
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	12,418	2,945
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE commercial collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities	64,198	24,082
Recurring basis | Significant Other Observable Inputs (Level 2) | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,371	23,037
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	32,465	17,978
Recurring basis | Significant Other Observable Inputs (Level 2) | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives	779	280
Financial Liabilities:
Financial Liabilities: Derivatives	$ 2,073	$ 1,223
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. GSE residential collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. GSE commercial collateralized mortgage obligations
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities
Recurring basis | Significant Unobservable Inputs (Level 3) | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives
Financial Liabilities:
Financial Liabilities: Derivatives

ESTIMATED FAIR VALUE OF FINA111

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets measured at fair value on non-recurring basis
Impaired loans	$ 500	$ 500
Non-recurring basis | Carrying Value
Assets measured at fair value on non-recurring basis
Impaired loans	483	$ 558
Other real estate owned	$ 250
Non-recurring basis | Quoted Prices In Active Markets for Identical Assets (Level 1)
Assets measured at fair value on non-recurring basis
Impaired loans
Other real estate owned
Non-recurring basis | Significant Other Observable Inputs (Level 2)
Assets measured at fair value on non-recurring basis
Impaired loans
Other real estate owned
Non-recurring basis | Significant Unobservable Inputs (Level 3)
Assets measured at fair value on non-recurring basis
Impaired loans	$ 483	$ 558
Other real estate owned	$ 250

ESTIMATED FAIR VALUE OF FINA112

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financial assets:
Cash and due from banks	$ 79,750	$ 45,109
Interest bearing deposits with banks	24,808	6,621
Securities available for sale	800,203	587,184
Securities held to maturity	210,003	216,289
Accrued interest receivable	9,270	6,425
Financial liabilities:
Certificates of deposit	292,855
Junior Subordinated Debentures	15,878	15,873
Carrying Amount
Financial assets:
Cash and due from banks	79,750	45,109
Interest bearing deposits with banks	24,408	6,621
Securities available for sale	800,203	587,184
Securities restricted	24,788	10,037
Securities held to maturity	208,351	214,927
Loans, net	2,390,030	1,320,690
Derivative Asset	779	280
Accrued interest receivable	9,270	6,425
Financial liabilities:
Certificates of deposit	292,855	141,362
Demand and other deposits	2,550,770	1,692,417
Federal funds purchased	120,000	75,000
Federal Home Loan Bank term advances	297,507	138,327
Repurchase agreements	50,891	$ 36,263
Subordinated Debentures	78,363
Junior Subordinated Debentures	15,878	$ 16,002
Derivatives	2,073	1,223
Accrued interest payable	1,644	308
Fair Value
Financial assets:
Cash and due from banks	79,750	45,109
Interest bearing deposits with banks	24,408	6,621
Securities available for sale	800,203	587,184
Securities held to maturity	210,003	216,289
Loans, net	2,379,171	1,317,625
Derivative Asset	779	280
Accrued interest receivable	9,270	6,425
Financial liabilities:
Certificates of deposit	293,368	142,264
Demand and other deposits	2,550,770	1,692,417
Federal funds purchased	120,000	75,000
Federal Home Loan Bank term advances	298,015	138,235
Repurchase agreements	51,480	$ 36,991
Subordinated Debentures	78,830
Junior Subordinated Debentures	16,566	$ 16,528
Derivatives	2,073	1,223
Accrued interest payable	1,644	308
Fair Value | Quoted Prices In Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and due from banks	$ 79,750	$ 45,109
Interest bearing deposits with banks
Securities available for sale
Securities held to maturity
Loans, net
Derivative Asset
Accrued interest receivable
Financial liabilities:
Certificates of deposit
Demand and other deposits	$ 2,550,770	$ 1,692,417
Federal funds purchased	120,000	75,000
Federal Home Loan Bank term advances	$ 197,243	$ 98,070
Repurchase agreements
Subordinated Debentures
Junior Subordinated Debentures
Derivatives
Accrued interest payable	$ 93	$ 77
Fair Value | Significant Other Observable Inputs (Level 2)
Financial assets:
Cash and due from banks
Interest bearing deposits with banks	$ 24,408	$ 6,621
Securities available for sale	800,203	587,184
Securities held to maturity	$ 210,003	$ 216,289
Loans, net
Derivative Asset	$ 779	$ 280
Accrued interest receivable	3,228	2,721
Financial liabilities:
Certificates of deposit	$ 293,368	$ 142,264
Demand and other deposits
Federal funds purchased
Federal Home Loan Bank term advances	$ 100,772	$ 40,165
Repurchase agreements	$ 51,480	$ 36,991
Subordinated Debentures
Junior Subordinated Debentures
Derivatives	$ 2,073	$ 1,223
Accrued interest payable	$ 1,551	$ 231
Fair Value | Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and due from banks
Interest bearing deposits with banks
Securities available for sale
Securities held to maturity
Loans, net	$ 2,379,171	$ 1,317,625
Derivative Asset
Accrued interest receivable	$ 6,042	$ 3,704
Financial liabilities:
Certificates of deposit
Demand and other deposits
Federal funds purchased
Federal Home Loan Bank term advances
Repurchase agreements
Subordinated Debentures	$ 78,830
Junior Subordinated Debentures	$ 16,566	$ 16,528
Derivatives
Accrued interest payable

ESTIMATED FAIR VALUE OF FINA113

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
Impaired loans	$ 500	$ 500
Outstanding balance of impaired loans with an allowance recorded	512	731	$ 1,567
Valuation allowance on impaired loans	29	174	238
Additional provision for loan losses	4,000	$ 2,200	$ 2,350
Other real estate owned	$ 250

REGULATORY CAPITAL REQUIREME114

REGULATORY CAPITAL REQUIREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Basel III
Common Equity Tier 1 Capital to Risk Weighted Assets:
Actual, Amount	$ 249,921
Actual, Ratio (as a percent)	9.30%
Minimum Capital Adequacy Requirement, Amount	$ 121,074
Minimum Capital Adequacy Requirement, Ratio (as a percent)	4.50%
Total Capital (to risk weighted assets)
Actual, Amount	$ 366,393
Actual, Ratio (as a percent)	13.60%
For Capital Adequacy Purposes, Amount	$ 215,243
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%
Tier 1 Capital (to risk weighted assets)
Actual, Amount	$ 265,373
Actual, Ratio (as a percent)	9.90%
For Capital Adequacy Purposes, Amount	$ 161,432
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%
Tier 1 Capital (to average assets)
Actual, Amount	$ 265,373
Actual, Ratio (as a percent)	7.60%
For Capital Adequacy Purposes, Amount	$ 140,490
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%
Basel I
Total Capital (to risk weighted assets)
Actual, Amount		$ 207,340
Actual, Ratio (as a percent)		13.00%
For Capital Adequacy Purposes, Amount		$ 127,445
For Capital Adequacy Purposes, Ratio (as a percent)		8.00%
Tier 1 Capital (to risk weighted assets)
Actual, Amount		$ 189,527
Actual, Ratio (as a percent)		11.90%
For Capital Adequacy Purposes, Amount		$ 63,722
For Capital Adequacy Purposes, Ratio (as a percent)		4.00%
Tier 1 Capital (to average assets)
Actual, Amount		$ 189,527
Actual, Ratio (as a percent)		8.40%
For Capital Adequacy Purposes, Amount		$ 90,614
For Capital Adequacy Purposes, Ratio (as a percent)		4.00%
Bank | Basel III
Common Equity Tier 1 Capital to Risk Weighted Assets:
Actual, Amount	$ 319,351
Actual, Ratio (as a percent)	11.90%
Minimum Capital Adequacy Requirement, Amount	$ 121,074
Minimum Capital Adequacy Requirement, Ratio (as a percent)	4.50%
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 174,884
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	6.50%
Total Capital (to risk weighted assets)
Actual, Amount	$ 340,371
Actual, Ratio (as a percent)	12.70%
For Capital Adequacy Purposes, Amount	$ 215,242
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 269,053
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	10.00%
Tier 1 Capital (to risk weighted assets)
Actual, Amount	$ 319,351
Actual, Ratio (as a percent)	11.90%
For Capital Adequacy Purposes, Amount	$ 161,432
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 215,242
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	8.00%
Tier 1 Capital (to average assets)
Actual, Amount	$ 319,351
Actual, Ratio (as a percent)	9.10%
For Capital Adequacy Purposes, Amount	$ 140,492
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 175,615
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	5.00%
Bank | Basel I
Total Capital (to risk weighted assets)
Actual, Amount		$ 206,633
Actual, Ratio (as a percent)		13.00%
For Capital Adequacy Purposes, Amount		$ 127,427
For Capital Adequacy Purposes, Ratio (as a percent)		8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 159,284
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		10.00%
Tier 1 Capital (to risk weighted assets)
Actual, Amount		$ 188,820
Actual, Ratio (as a percent)		11.90%
For Capital Adequacy Purposes, Amount		$ 63,714
For Capital Adequacy Purposes, Ratio (as a percent)		4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 95,571
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		6.00%
Tier 1 Capital (to average assets)
Actual, Amount		$ 188,820
Actual, Ratio (as a percent)		8.30%
For Capital Adequacy Purposes, Amount		$ 90,617
For Capital Adequacy Purposes, Ratio (as a percent)		4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount		$ 113,271
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)		5.00%

PARENT COMPANY ONLY CONDENSE115

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 104,558	$ 51,730	$ 45,573	$ 51,249
Other assets	38,732	19,244
Total Assets	3,781,959	2,288,524
LIABILITIES AND STOCKHOLDERS' EQUITY
Subordinated debentures	78,363
Junior subordinated debentures	15,878	15,873
Total Liabilities	3,440,831	2,113,406
Total Stockholders' Equity	341,128	175,118	159,460	118,672
Total Liabilities and Stockholders' Equity	3,781,959	2,288,524
Parent Company
ASSETS
Cash and cash equivalents	25,475	610	$ 37,364	$ 5,203
Other assets	16	89
Investment in the Bank	411,106	190,292
Total Assets	436,597	190,991
LIABILITIES AND STOCKHOLDERS' EQUITY
Subordinated debentures	78,363
Junior subordinated debentures	15,878	15,873
Other liabilities	1,228
Total Liabilities	95,469	15,873
Total Stockholders' Equity	341,128	175,118
Total Liabilities and Stockholders' Equity	$ 436,597	$ 190,991

PARENT COMPANY ONLY CONDENSE116

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details 2) - USD ($) $ in Thousands	3 Months Ended															12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed financial information
Dividends from the Bank																$ 10,000
Interest expense																10,129	$ 7,460	$ 7,272
Non-interest expense																72,890	52,414	37,937
Income (loss) before income taxes and equity in undistributed earnings of the Bank																7,301	(1,451)	(1,434)
Income tax benefit																10,778	7,239	6,669
Net income																21,111	13,763	13,093
Parent Company
Condensed financial information
Dividends from the Bank																10,000
Interest expense	$ 3,705		$ 2,659		$ 1,953		$ 1,812		$ 1,866		$ 1,857	$ 1,915		$ 1,822		2,626	1,365	1,365
Non-interest expense	18,173	[1]	19,373	[2]	22,034	[3]	13,310	[4]	13,183	[1]	12,094	12,124	[3]	15,013	[4]	73	86	69
Income (loss) before income taxes and equity in undistributed earnings of the Bank																7,301	(1,451)	(1,434)
Income tax benefit	4,147		4,248		(243)		2,626		2,396		2,459	2,165		219		(933)	(463)	(483)
Income (loss) before equity in undistributed earnings of the Bank																8,234	(988)	(951)
Equity in undistributed earnings of the Bank																12,877	14,751	14,044
Net income	$ 7,995		$ 7,890		$ 463		$ 4,763		$ 4,168		$ 4,871	$ 4,318		$ 406		$ 21,111	$ 13,763	$ 13,093
[1]	2015 amount includes costs associated with the CNB acquisition of $0.5 million. 2014 amount includes costs associated with the CNB acquisition of $0.8 million
[2]	2015 amount includes costs associated with the CNB acquisition of $0.9 million.
[3]	2015 amount includes costs associated with the CNB acquisition of $8.2 million. 2014 amount includes costs associated with the FNBNY acquisition of $0.3 million.
[4]	2015 amount includes costs associated with the CNB acquisition of $0.2 million. 2014 amount includes costs associated with the FNBNY acquisition and branch restructuring of $4.4 million.

PARENT COMPANY ONLY CONDENSE117

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income									$ 21,111	$ 13,763	$ 13,093
Adjustments to reconcile net income to net cash (used in) operating activities:
Decrease (increase) in other assets									6,815	(5,783)	1,366
Increase (decrease) in other liabilities									10,799	(1,417)	3,483
Net cash used in operating activities									31,526	25,811	25,029
Cash flows from investing activities:
Cash in lieu of fractional shares for business acquisition									24,628	2,926
Net cash used in investing activities									(451,572)	(170,548)	(301,175)
Cash flows from financing activities:
Net proceeds from issuance of subordinated debentures									78,324
Repayment of acquired unsecured debt										1,450
Net proceeds from issuance of common stock									779	631	46,237
Net proceeds from exercise of stock options									80	7	4
Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards									(228)	(173)	(291)
Excess tax benefit from share based compensation									50	36	21
Cash dividends paid									(13,415)	(10,657)	(6,754)
Other, net									(303)	(192)
Net cash provided by financing activities									472,874	150,894	270,470
Net increase (decrease) in cash and cash equivalents									52,828	6,157	(5,676)
Cash and cash equivalents at beginning of period				$ 51,730				$ 45,573	51,730	45,573	51,249
Cash and cash equivalents at end of period	$ 104,558				$ 51,730				104,558	51,730	45,573
Parent Company
Cash flows from operating activities:
Net income	7,995	$ 7,890	$ 463	4,763	4,168	$ 4,871	$ 4,318	406	21,111	13,763	13,093
Adjustments to reconcile net income to net cash (used in) operating activities:
Equity in undistributed earnings of the Bank									(12,877)	(14,751)	(14,044)
Amortization									44	5	5
Decrease (increase) in other assets									72	76	(105)
Increase (decrease) in other liabilities									1,228	(48)	(5)
Net cash used in operating activities									9,578	(955)	(1,056)
Cash flows from investing activities:
Investment in the Bank									(50,000)	(24,000)	(6,000)
Cash in lieu of fractional shares for business acquisition										(1)
Net cash used in investing activities									(50,000)	(24,001)	(6,000)
Cash flows from financing activities:
Net proceeds from issuance of subordinated debentures									78,324
Repayment of acquired unsecured debt										(1,450)
Net proceeds from issuance of common stock									779	631	46,237
Net proceeds from exercise of stock options									80	7	4
Repurchase of surrendered stock from exercise of stock options and vesting of restricted stock awards									(228)	(173)	(291)
Excess tax benefit from share based compensation									50	36	21
Cash dividends paid									(13,415)	(10,657)	(6,754)
Other, net									(303)	(192)
Net cash provided by financing activities									65,287	(11,798)	39,217
Net increase (decrease) in cash and cash equivalents									24,865	(36,754)	32,161
Cash and cash equivalents at beginning of period				$ 610				$ 37,364	610	37,364	5,203
Cash and cash equivalents at end of period	$ 25,475				$ 610				$ 25,475	$ 610	$ 37,364

OTHER COMPREHENSIVE INCOME (118

OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized holding (losses) gains on available for sale securities	$ (2,489)	$ 13,315	$ (23,771)
Reclassification adjustment for losses (gains) realized in income	8	1,090	(659)
Income tax effect	1,047	(5,718)	9,698
Net change in unrealized (losses) gains on available for sale securities	(1,434)	8,687	(14,732)
Unrealized net gain (loss) arising during the period	196	(5,529)	2,871
Reclassification adjustment for amortization realized in income	358	(23)	291
Income tax effect	(174)	2,204	(1,255)
Net change in post-retirement obligation	380	(3,348)	1,907
Change in fair value of derivatives used for cash flow hedges	(1,008)	(1,249)	(259)
Reclassification adjustment for losses realized in income	657	470	271
Income tax effect	150	309	(5)
Net change in unrealized (loss) gain on cash flow hedges	(201)	(470)	7
Total	$ (1,255)	$ 4,869	$ (12,818)

OTHER COMPREHENSIVE INCOME (119

OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unrealized (losses) gains on available for sale securities
Balance at the beginning of the period	$ (3,307)
Current Period Change	(1,434)	$ 8,687	$ (14,732)
Balance at the end of the period	(4,741)	(3,307)
Unrealized (losses) gains on pension benefits
Balance at the beginning of the period	(4,491)
Current Period Change	380	(3,348)	1,907
Balance at the end of the period	(4,111)	(4,491)
Unrealized (losses) gains on cash flow hedges
Balance at the beginning of the period	(569)
Current Period Change	(201)	(470)	7
Balance at the end of the period	(770)	(569)
Total
Balance at the beginning of the period	(8,367)
Current Period Change	(1,255)	4,869	$ (12,818)
Balance at the end of the period	$ (9,622)	$ (8,367)

OTHER COMPREHENSIVE INCOME (120

OTHER COMPREHENSIVE INCOME (LOSS) (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	$ (8)	$ (1,090)	$ 659
Income before income taxes	31,889	21,002	19,762
Income tax effect	(10,778)	(7,239)	(6,669)
Net income	21,111	13,763	13,093
Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Net income	(609)	(926)	59
Unrealized gains (losses) on available for sale securities | Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	(8)	(1,090)	659
Income tax effect	3	433	(262)
Net income	(5)	(657)	397
Amortization of defined benefit pension plan and the defined benefit plan component of the SERP | Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Amortization of prior service cost	77	77	77
Transition obligation	(27)	(27)	(43)
Amortization of net loss	(408)	(27)	(325)
Income before income taxes	(358)	23	(291)
Income tax effect	145	(9)	116
Net income	(213)	14	(175)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	(657)	(470)	(271)
Income tax effect	266	187	108
Net income	$ (391)	$ (283)	$ (163)

QUARTERLY FINANCIAL DATA (UN121

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended															12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income																$ 106,240	$ 74,910	$ 58,430
Interest expense																10,129	7,460	7,272
Net interest income																96,111	67,450	51,158
Provision for loan losses																4,000	2,200	2,350
Net interest income after provision for loan losses																92,111	65,250	48,808
Non-interest income																12,668	8,166	8,891
Non-interest expenses																72,890	52,414	37,937
Income before income taxes																31,889	21,002	19,762
Income tax expense																10,778	7,239	6,669
Net Income																$ 21,111	$ 13,763	$ 13,093
Basic earnings per share (in dollars per share)																$ 1.43	$ 1.18	$ 1.36
Diluted earnings per share (in dollars per share)																$ 1.43	$ 1.18	$ 1.36
Parent Company
Interest income	$ 31,609		$ 31,744		$ 22,380		$ 20,507		$ 19,603		$ 19,219	$ 18,730		$ 17,358
Interest expense	3,705		2,659		1,953		1,812		1,866		1,857	1,915		1,822		$ 2,626	$ 1,365	$ 1,365
Net interest income	27,904		29,085		20,427		18,695		17,737		17,362	16,815		15,536
Provision for loan losses	1,000		1,500		700		800		500		500	500		700
Net interest income after provision for loan losses	26,904		27,585		19,727		17,895		17,237		16,862	16,315		14,836
Non-interest income	3,411		3,926		2,527		2,804		2,510		2,562	2,292		802	[1]
Non-interest expenses	18,173	[2]	19,373	[3]	22,034	[4]	13,310	[5]	13,183	[2]	12,094	12,124	[4]	15,013	[5]	73	86	69
Income before income taxes	12,142		12,138		220		7,389		6,564		7,330	6,483		625
Income tax expense	4,147		4,248		(243)		2,626		2,396		2,459	2,165		219		(933)	(463)	(483)
Net Income	$ 7,995		$ 7,890		$ 463		$ 4,763		$ 4,168		$ 4,871	$ 4,318		$ 406		$ 21,111	$ 13,763	$ 13,093
Basic earnings per share (in dollars per share)	$ 0.46		$ 0.45		$ 0.04		$ 0.41		$ 0.36		$ 0.42	$ 0.37		$ 0.04
Diluted earnings per share (in dollars per share)	$ 0.46		$ 0.45		$ 0.04		$ 0.41		$ 0.36		$ 0.42	$ 0.37		$ 0.04
[1]	2014 amount includes net securities losses of $1.1 million.
[2]	2015 amount includes costs associated with the CNB acquisition of $0.5 million. 2014 amount includes costs associated with the CNB acquisition of $0.8 million
[3]	2015 amount includes costs associated with the CNB acquisition of $0.9 million.
[4]	2015 amount includes costs associated with the CNB acquisition of $8.2 million. 2014 amount includes costs associated with the FNBNY acquisition of $0.3 million.
[5]	2015 amount includes costs associated with the CNB acquisition of $0.2 million. 2014 amount includes costs associated with the FNBNY acquisition and branch restructuring of $4.4 million.

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	1 Months Ended
	Jun. 19, 2015	Feb. 14, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill Recorded on Acquisition			$ 98,445	$ 9,450	$ 2,034
CNB
Business Acquisition [Line Items]
Cash and due from banks	$ 24,628
Securities	90,109
Loans	733,986
Bank Owned Life Insurance	21,445
Premises and equipment	6,398
Other intangible assets	6,698
Other assets	16,666
Total Assets Acquired	899,930
Deposits	786,853
Federal Home Loan Bank term advances	35,581
Other liabilities and accrued expenses	8,988
Total Liabilities Assumed	831,422
Net Assets Acquired	68,508
Consideration Paid	157,503
Goodwill Recorded on Acquisition	88,995
CNB | As Initially Reported
Business Acquisition [Line Items]
Cash and due from banks	24,628
Securities	90,109
Loans	736,348
Bank Owned Life Insurance	21,445
Premises and equipment	6,398
Other intangible assets	6,698
Other assets	14,484
Total Assets Acquired	900,110
Deposits	786,853
Federal Home Loan Bank term advances	35,581
Other liabilities and accrued expenses	5,647
Total Liabilities Assumed	828,081
Net Assets Acquired	72,029
Consideration Paid	157,503
Goodwill Recorded on Acquisition	$ 85,474
CNB | Measurement Period Adjustments
Business Acquisition [Line Items]
Cash and due from banks
Securities
Loans	$ (2,362)
Bank Owned Life Insurance
Premises and equipment
Other intangible assets
Other assets	$ 2,182
Total Assets Acquired	$ (180)
Deposits
Federal Home Loan Bank term advances
Other liabilities and accrued expenses	$ 3,341
Total Liabilities Assumed	3,341
Net Assets Acquired	$ (3,521)
Consideration Paid
Goodwill Recorded on Acquisition	$ 3,521
FNBNY
Business Acquisition [Line Items]
Cash and due from banks		$ 1,883
Interest earning deposits with banks		1,044
Securities		103,192
Loans		89,714
Premises and equipment		1,787
Core deposit intangible		951
Other assets		13,378
Total Assets Acquired		211,949
Deposits		169,873
Federal Home Loan Bank term advances		39,282
Unsecured debt		1,450
Other liabilities and accrued expenses		2,620
Total Liabilities Assumed		213,225
Net Assets Acquired		(1,276)
Consideration Paid		6,140
Goodwill Recorded on Acquisition		$ 7,416

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Net Interest Income	$ 129,538	$ 102,400
Net income	$ 35,856	$ 20,089
Basic earnings per share (in dollars per share)	$ 2.06	$ 1.90
Diluted earnings per share (in dollars per share)	$ 2.06	$ 1.90

BUSINESS COMBINATIONS (Detail T

BUSINESS COMBINATIONS (Detail Textuals) shares in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Jun. 19, 2015USD ($)Branchshares	Feb. 14, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Business Acquisition [Line Items]
Goodwill Recorded on Acquisition			$ 98,445	$ 9,450	$ 2,034
Merger-related expenses excluded from pro forma non-interest expenses			$ 11,800	$ 1,300
CNB
Business Acquisition [Line Items]
Purchase price	$ 157,503
Aggregate shares issued in exchange for issued and outstanding common stock | shares	5,647
Goodwill Recorded on Acquisition	$ 88,995
Total Assets Acquired	899,930
Loans	733,986
Securities	90,109
Deposits	$ 786,853
Number of branches | Branch	40
FNBNY
Business Acquisition [Line Items]
Purchase price		$ 6,140
Goodwill Recorded on Acquisition		7,416
Total Assets Acquired		211,949
Loans		89,714
Securities		103,192
Deposits		$ 169,873

PRESENTATION OF DEBT ISSUANC125

PRESENTATION OF DEBT ISSUANCE COSTS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Other Assets	$ 38,732	$ 19,244
Assets	3,781,959	2,288,524
Junior subordinated debentures	15,878	15,873
Liabilities	$ 3,440,831	2,113,406
Accounting Standards Update 2015-03 | As previously reported
Debt Instrument [Line Items]
Other Assets		19,373
Assets		2,288,653
Junior subordinated debentures		16,002
Liabilities		2,113,535
Accounting Standards Update 2015-03 | As reported under the new guidance
Debt Instrument [Line Items]
Other Assets		19,244
Assets		2,288,524
Junior subordinated debentures		15,873
Liabilities		$ 2,113,406