Dime Community Bancshares (DCOM) 10-K 10 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
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		19,692,088
Entity Public Float			$ 469,323,830
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 102,280	$ 79,750
Interest earning deposits with banks	11,558	24,808
Total cash and cash equivalents	113,838	104,558
Securities available for sale, at fair value	819,722	800,203
Securities held to maturity (fair value of $222,878 and $210,003, respectively)	223,237	208,351
Total securities	1,042,959	1,008,554
Securities, restricted	34,743	24,788
Loans held for investment	2,600,440	2,410,774
Allowance for loan losses	(25,904)	(20,744)
Loans, net	2,574,536	2,390,030
Premises and equipment, net	35,263	39,595
Accrued interest receivable	10,233	9,270
Goodwill	105,950	98,445
Other intangible assets	5,824	8,376
Prepaid pension	7,070	6,047
Bank owned life insurance	85,243	53,314
Other real estate owned		250
Other assets	38,911	38,732
Total Assets	4,054,570	3,781,959
LIABILITIES AND STOCKHOLDERS' EQUITY
Demand deposits	1,151,268	1,156,882
Savings, NOW and money market deposits	1,568,009	1,393,888
Certificates of deposit of $100,000 or more	126,198	167,750
Other time deposits	80,534	125,105
Total deposits	2,926,009	2,843,625
Federal funds purchased	100,000	120,000
Federal Home Loan Bank advances	496,684	297,507
Repurchase agreements	674	50,891
Subordinated debentures, net	78,502	78,363
Junior subordinated debentures, net	15,244	15,878
Other liabilities and accrued expenses	29,470	34,567
Total Liabilities	3,646,583	3,440,831
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 (40,000,000 shares authorized; 19,106,246 and 17,388,918 shares issued, respectively; and19,100,389 and 17,388,918 shares outstanding, respectively)	191	174
Surplus	329,427	278,333
Retained earnings	91,594	72,243
Treasury Stock at cost, 5,857 and 0 shares, respectively	(161)
Total stockholders' equity before accumulated other comprehensive income (loss)	421,051	350,750
Accumulated other comprehensive loss, net of income tax	(13,064)	(9,622)
Total Stockholders' Equity	407,987	341,128
Total Liabilities and Stockholders' Equity	$ 4,054,570	$ 3,781,959

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets
Securities held to maturity, fair value (in dollars)	$ 222,878	$ 210,003
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	19,106,246	17,388,918
Common stock, shares outstanding	19,100,389	17,388,918
Treasury Stock, shares	5,857	0

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest income:
Loans (including fee income)	$ 116,723	$ 88,760	$ 57,628
Mortgage-backed securities, CMOs and other assets-backed securities	13,483	11,173	10,644
State and municipal obligations	3,777	3,198	2,735
U.S. GSE securities	1,294	1,630	2,716
Corporate bonds	1,124	840	749
Deposits with banks	147	47	32
Other interest and dividend income	1,168	592	406
Total interest income	137,716	106,240	74,910
Interest expense:
Savings, NOW and money market deposits	5,250	4,002	3,223
Certificates of deposit of $100,000 or more	932	929	767
Other time deposits	684	673	426
Federal funds purchased and repurchase agreements	1,075	474	588
Federal Home Loan Bank advances	3,001	1,425	1,091
Subordinated debentures	4,539	1,261
Junior subordinated debentures	1,364	1,365	1,365
Total interest expense	16,845	10,129	7,460
Net interest income	120,871	96,111	67,450
Provision for loan losses	5,550	4,000	2,200
Net interest income after provision for loan losses	115,321	92,111	65,250
Non-interest income:
Service charges on deposit accounts	4,187	3,737	3,206
Fees for other customer services	4,220	3,317	2,835
Title fee income	1,833	1,866	1,662
Net securities gains (losses)	449	(8)	(1,090)
Other operating income	5,357	3,756	1,553
Total non-interest income	16,046	12,668	8,166
Non-interest expense:
Salaries and employee benefits	40,913	33,871	26,011
Occupancy and equipment	12,798	11,045	7,712
Technology and communications	4,897	3,599	3,175
Marketing and advertising	4,048	3,125	2,430
Professional services	3,646	2,327	1,537
FDIC assessments	1,635	1,593	1,265
Acquisition costs and branch restructuring	(920)	9,766	5,504
Amortization of other intangible assets	2,637	1,447	300
Other operating expenses	7,427	6,117	4,480
Total non-interest expense	77,081	72,890	52,414
Income before income taxes	54,286	31,889	21,002
Income tax expense	18,795	10,778	7,239
Net income	$ 35,491	$ 21,111	$ 13,763
Basic earnings per share (in dollars per share)	$ 2.01	$ 1.43	$ 1.18
Diluted earnings per share (in dollars per share)	$ 2	$ 1.43	$ 1.18

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income
Net Income	$ 35,491	$ 21,111	$ 13,763
Other comprehensive (loss) income:
Change in unrealized net (losses) gains on securities available for sale, net of reclassifications and deferred income taxes	(4,082)	(1,434)	8,687
Adjustment to pension liability, net of reclassifications and deferred income taxes	(630)	380	(3,348)
Unrealized gains (losses) on cash flow hedges, net of reclassifications and deferred income taxes	1,270	(201)	(470)
Total other comprehensive (loss) income	(3,442)	(1,255)	4,869
Comprehensive income	$ 32,049	$ 19,856	$ 18,632

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, 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 FNBNY Bancorp and Community National Bank ("CNB"), net of offering costs (240,598 shares) and (5,647,268 shares), respectively.	2	5,946				5,948
Stock awards granted and distributed	1	(432)		431
Stock awards forfeited		58		(58)
Repurchase of surrendered stock from vesting of restricted 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, $0.92 per share for December 31, 2014 and $0.92 per share for December 31, 2015 and $0.92 per share for December 31, 2016			(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 FNBNY Bancorp and Community National Bank ("CNB"), net of offering costs (240,598 shares) and (5,647,268 shares), respectively.	56	157,143				157,199
Stock awards granted and distributed	1	(263)		262
Stock awards forfeited		125		(125)
Repurchase of surrendered stock from vesting of restricted 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, $0.92 per share for December 31, 2014 and $0.92 per share for December 31, 2015 and $0.92 per share for December 31, 2016			(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
Increase (Decrease) in Stockholders' Equity
Net income			35,491			35,491
Shares issued under the dividend reinvestment plan ("DRP")		921				921
Shares issued in common stock offering, net of offering costs (1,613,000 shares)	16	47,505				47,521
Shares issued for trust preferred securities conversions (10,344 shares)		292				292
Stock awards granted and distributed	1	(205)		204
Stock awards forfeited		173		(173)
Repurchase of surrendered stock from vesting of restricted stock awards				(344)		(344)
Exercise of stock options		(90)		152		62
Impact of modification of convertible trust preferred securities		356				356
Shared based compensation expense		2,142				2,142
Cash dividend declared, $0.92 per share for December 31, 2014 and $0.92 per share for December 31, 2015 and $0.92 per share for December 31, 2016			(16,140)			(16,140)
Other comprehensive income (loss), net of deferred income taxes					(3,442)	(3,442)
Balance at Dec. 31, 2016	$ 191	$ 329,427	$ 91,594	$ (161)	$ (13,064)	$ 407,987

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Stockholders' Equity
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	$ 0.92
Shares issued in common stock offerings, net of offering costs	1,613,000
Number of shares issued for trust preferred securities conversions	10,344

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 35,491	$ 21,111	$ 13,763
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	5,550	4,000	2,200
Depreciation and (accretion) amortization	(6,746)	(3,789)	481
Net amortization on securities	6,501	4,936	3,763
Increase in cash surrender value of bank owned life insurance	(1,929)	(1,225)	(609)
Amortization of intangible assets	2,637	1,447	300
Share based compensation expense	2,142	1,689	1,234
Net securities (gains) losses	(449)	8	1,090
Increase in accrued interest receivable	(963)	(267)	(777)
Small Business Administration ("SBA") loans originated for sale	(11,944)	(5,043)
Proceeds from sale of the guaranteed portion of SBA loans	13,286	5,659
Gain on sale of the guaranteed portion of SBA loans	(1,097)	(507)
Gain on sale of loans	(98)	(477)
Decrease (increase) in other assets	8,331	(6,815)	5,783
(Decrease) increase in accrued expenses and other liabilities	(6,476)	10,799	(1,417)
Net cash provided by operating activities	44,236	31,526	25,811
Cash flows from investing activities:
Purchases of securities available for sale	(462,702)	(330,646)	(342,185)
Purchases of securities, restricted	(537,930)	(318,887)	(408,439)
Purchases of securities held to maturity	(46,495)	(21,650)	(52,464)
Proceeds from sales of securities available for sale	264,358	75,750	360,963
Redemption of securities, restricted	527,975	308,808	408,036
Maturities, calls and principal payments of securities available for sale	167,045	113,217	80,242
Maturities, calls and principal payments of securities held to maturity	30,460	34,897	37,983
Net increase in loans	(206,380)	(354,375)	(235,320)
Proceeds from loan sale	18,116	21,011
Proceeds from sales of other real estate owned ("OREO"), net	278		2,942
Purchase of bank owned life insurance	(30,000)		(20,000)
Purchase of premises and equipment	(4,270)	(4,325)	(5,232)
Net cash acquired in business combination		24,628	2,926
Net cash used in investing activities	(279,545)	(451,572)	(170,548)
Cash flows from financing activities:
Net increase in deposits	83,120	223,872	125,300
Net (decrease) increase in federal funds purchased	(20,000)	45,000	11,000
Net increase in Federal Home Loan Bank advances	199,666	124,087	1,499
Repayment of acquired unsecured debt			(1,450)
Net (decrease) increase in repurchase agreements	(50,217)	14,628	24,893
Net proceeds from issuance of subordinated debentures		78,324
Net proceeds from issuance of common stock	48,442	779	631
Net proceeds from exercise of stock options	62	80	7
Repurchase of surrendered stock from vesting of restricted stock awards	(344)	(228)	(173)
Excess tax benefit from share based compensation		50	36
Cash dividends paid	(16,140)	(13,415)	(10,657)
Other, net		(303)	(192)
Net cash provided by financing activities	244,589	472,874	150,894
Net increase in cash and cash equivalents	9,280	52,828	6,157
Cash and cash equivalents at beginning of period	104,558	51,730	45,573
Cash and cash equivalents at end of period	113,838	104,558	51,730
Cash paid for:
Interest	16,640	8,793	7,377
Income tax	$ 21,585	8,744	4,068
Noncash investing and financing activities:
Transfers from portfolio loans to OREO		250	577
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, 2016
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 an investment services subsidiary, Bridge Financial Services LLC (“Bridge Financial Services”). 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. GAAP, 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, federal funds purchased, Federal Home Loan Bank (“FHLB”) 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, Federal Reserve Bank (“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 determining other-than-temporary impairment (“OTTI”), management considers many factors including: (1) the length of time and extent to which the 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 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 these criteria, the amount of impairment is split into two components: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) OTTI 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 an other-than-temporary decline exists involves 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 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 an 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 troubled debt restructured loan performing in accordance with its modified terms is maintained on accrual status. 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 present 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 expected future cash flows using the loan’s effective interest 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 (“CNB”) on June 19, 2015 and First National Bank of New York (“FNBNY”) 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 the 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 management to evaluate the need for an addition to the allowance for loan losses. Purchased credit impaired loans that were nonaccrual prior to 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 established and maintained through a provision for loan losses based on probable incurred losses 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 regularly, 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 Financial Accounting Standards Board ("FASB") Accounting Standards 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 the Company’s 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 the Bank’s 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, owner and non-owner occupied; multi-family mortgage loans; home equity loans; residential real estate mortgages; commercial, industrial and agricultural loans, secured and unsecured; real estate construction and land loans; and consumer loans. Management considers a variety of factors in determining the adequacy of the valuation allowance and has developed a range of valuation allowances necessary to adequately provide for probable incurred losses in each pool of loans. Management considers the Bank’s 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, management 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, management evaluates and considers 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. 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. 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. Unless otherwise noted, the above policy is applied consistently to all loan segments. g) Premises and Equipment Buildings, furniture and fixtures, and equipment are carried 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 the 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 non-compete intangibles arising from whole bank acquisitions. Core deposit intangibles are amortized on an accelerated method over their estimated useful lives of ten years. The non-compete intangible was fully amortized as of December 31, 2016. 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 $975,000 at December 31, 2016 and $893,000 at December 31, 2015. 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 (“OCI”) 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. When 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 in 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 ASU 740, Accounting for Uncertainty in Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. There are no such tax positions in the Company’s financial statements at December 31, 2016 and 2015. 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, 2016 and 2015. 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 (“EPS”) is calculated in accordance with FASB ASC 260-10, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities”. This ASC 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 EPS. Basic earnings per common share is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS, which reflects the potential dilution that could occur if outstanding stock options were exercised and if junior subordinated debentures were converted into common shares, is computed by dividing net income attributable to common shareholders including assumed conversions by the weighted average number of common shares and common equivalent shares outstanding during the period. 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, 2017 are limited to $37.6 million which represents the Bank’s net retained earnings from the previous two years. During 2016, the Bank paid dividends of $14.8 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, “Accounting for Stock-Based Compensation” which requires companies to record compensation cost for stock options, restricted stock awards and restricted stock units granted to employees in return for employee service. The cost is measured at the fair value of the options and awards when granted, and this cost is expensed over the employee service period, which is normally the vesting period of the options and awards. 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 plan. FASB ASC 715-30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires employers to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year the changes occur through comprehensive income. t) New Accounting Standards In March 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016, with early adoption permitted. The Company adopted ASU 2016-09 in the first quarter of 2016. The adoption of ASU 2016-09 did not have a material impact on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments.” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. ASU 2015-16 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-16 resulted in a fixed asset measurement period adjustment of $0.3 million that was recorded in 2016 related to the recovery of depreciation expense recorded in 2015. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 provides guidance on the presentation and classification in the statement of cash flows of eight specific cash flow issues, including debt prepayment or debt extinguishment costs, proceeds from the settlement of insurance claims and proceeds from the settlement of BOLI policies, with the objective of reducing diversity in practice. For public entities, like the Company, ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. Since the provisions of ASU 2016-15 are disclosure related, adoption will not have an impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model and also provides for recording credit losses on available for sale debt securities through an allowance account. ASU 2016-13 also requires certain incremental disclosures. ASU 2016-13 is effective for public entities that are SEC filers, like the Company, for interim and annual reporting periods beginning after December 15, 2019. The Company is currently assessing its data and system needs and evaluating the impact of adopting ASU 2016-13, but can not yet determine the overall impact this guidance will have on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” ASU 2016-02 affects any entity that enters into a lease and is intended to increase the transparency and comparability of financial statements among organizations. ASU 2016-02 requires, among other changes, a lessee to recognize on its balance sheet a lease asset and a lease liability for those leases previously classified as operating leases. The lease asset would represent the right to use the underlying asset for the lease term and the lease liability would represent the discounted value of the required lease payments to the lessor. ASU 2016-02 would also require entities to disclose key information about leasing arrangements. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018. As of December 31, 2016, the Bank leases thirty five properties as branch locations and two properties as loan production offices. The adoption of ASU 2016-02 will result in an increase in the Company’s assets and liabilities. The Company is in the process of quantifying the impact ASU 2016-02 will have on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in ASU 2016-01 are intended to improve the recogn

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2016
SECURITIES
SECURITIES	2. SECURITIES The following table summarizes the amortized cost and estimated fair value of the available for sale and held to maturity investment securities portfolio and the corresponding amounts of gross unrealized gains and losses therein: December 31, 2016 2015 ( In thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available for sale: U.S. GSE securities $ 64,993 $ — $ (1,344 ) $ 63,649 $ 63,238 $ — $ (564 ) $ 62,674 State and municipal obligations 117,292 212 (1,339 ) 116,165 87,830 427 (322 ) 87,935 U.S. GSE residential mortgage-backed securities 160,446 16 (2,414 ) 158,048 201,297 237 (1,270 ) 200,264 U.S. GSE residential collateralized mortgage obligations 373,098 149 (5,736 ) 367,511 321,253 513 (3,888 ) 317,878 U.S. GSE commercial mortgage-backed securities 6,337 6 (36 ) 6,307 12,491 7 (80 ) 12,418 U.S. GSE commercial collateralized mortgage obligations 56,148 — (956 ) 55,192 64,809 9 (620 ) 64,198 Other asset backed securities 24,250 — (1,697 ) 22,553 24,250 — (1,879 ) 22,371 Corporate bonds 32,000 — (1,703 ) 30,297 33,000 — (535 ) 32,465 Total available for sale 834,564 383 (15,225 ) 819,722 808,168 1,193 (9,158 ) 800,203 Held to maturity: U.S. GSE securities — — — — 7,466 1 — 7,467 State and municipal obligations 66,666 1,085 (130 ) 67,621 64,878 1,715 (113 ) 66,480 U.S. GSE residential mortgage-backed securities 13,443 — (287 ) 13,156 7,609 — (106 ) 7,503 U.S. GSE residential collateralized mortgage obligations 61,639 352 (552 ) 61,439 60,933 617 (498 ) 61,052 U.S. GSE commercial mortgage-backed securities 28,772 136 (509 ) 28,399 23,056 210 (313 ) 22,953 U.S. GSE commercial collateralized mortgage obligations 41,717 93 (573 ) 41,237 33,409 282 (185 ) 33,506 Corporate bonds 11,000 26 — 11,026 11,000 42 — 11,042 Total held to maturity 223,237 1,692 (2,051 ) 222,878 208,351 2,867 (1,215 ) 210,003 Total securities $ 1,057,801 $ 2,075 $ (17,276 ) $ 1,042,600 $ 1,016,519 $ 4,060 $ (10,373 ) $ 1,010,206 The following table summarizes securities with gross unrealized losses at December 31, 2016 and 2015, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position: December 31, 2016 2015 Less than 12 months Greater than 12 months Less than 12 months Greater than 12 months Estimated Gross Estimated Gross Estimated Gross Estimated Gross Fair Unrealized Fair Unrealized Fair Unrealized Fair Unrealized ( In thousands Value Losses Value Losses Value Losses Value Losses Available for sale: U.S. GSE securities $ 63,649 $ (1,344 ) $ — $ — $ 37,759 $ (235 ) $ 24,914 $ (329 ) State and municipal obligations 78,883 (1,338 ) 240 (1 ) 39,621 (298 ) 5,118 (24 ) U.S. GSE residential mortgage-backed securities 140,514 (2,409 ) 241 (5 ) 136,025 (1,224 ) 1,510 (46 ) U.S. GSE residential collateralized mortgage obligations 319,197 (5,221 ) 15,627 (515 ) 187,543 (1,781 ) 66,830 (2,107 ) U.S. GSE commercial mortgage-backed securities 2,573 (36 ) — — 8,594 (80 ) — — U.S. GSE commercial collateralized mortgage obligations 48,901 (886 ) 6,292 (70 ) 51,178 (503 ) 10,034 (117 ) Other asset backed securities — — 22,552 (1,697 ) — — 22,371 (1,879 ) Corporate bonds 17,834 (1,166 ) 12,463 (537 ) 27,640 (360 ) 4,825 (175 ) Total available for sale 671,551 (12,400 ) 57,415 (2,825 ) 488,360 (4,481 ) 135,602 (4,677 ) Held to maturity: State and municipal obligations 21,867 (130 ) — — 18,375 (113 ) — — U.S. GSE residential mortgage-backed securities 13,156 (287 ) — — 7,503 (106 ) — — U.S. GSE residential collateralized mortgage obligations 31,297 (455 ) 3,873 (97 ) 15,918 (149 ) 15,679 (349 ) U.S. GSE commercial mortgage-backed securities 12,860 (286 ) 5,877 (223 ) 13,982 (313 ) — — U.S. GSE commercial collateralized mortgage obligations 22,666 (372 ) 3,790 (201 ) 7,912 (8 ) 3,813 (177 ) Corporate bonds — — — — — — — — Total held to maturity $ 101,846 $ (1,530 ) $ 13,540 $ (521 ) $ 63,690 $ (689 ) $ 19,492 $ (526 ) 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 OTTI quarterly and more frequently when economic or market concerns warrant. Consideration is given to the length of time and 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 debt security or more likely than not will be required to sell the debt 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 and whether downgrades by bond rating agencies have occurred. At December 31, 2016, substantially all of the securities in an unrealized loss position had a fixed interest rate and the cause of the temporary impairment was directly related to changes in interest rates. The Company generally views changes in fair value caused by changes in interest rates as temporary, which is consistent with its experience. Other asset backed securities are comprised of student loan backed bonds which are guaranteed by the U.S. Department of Education for 97% to 100% of principal. Additionally, the bonds have credit support of 3% to 5% and have maintained their Aaa Moody’s rating during the time the Bank has owned them. None of the unrealized losses are related to credit losses. 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, 2016. The following table sets forth the estimated fair value, amortized cost and contractual maturities of the securities portfolio at December 31, 2016. 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, 2016 Within After One but After Five but After One Year Within Five Years Within Ten Years Ten Years Total Estimated Estimated Estimated Estimated Estimated Fair Amortized Fair Amortized Fair Amortized Fair Amortized Fair Amortized ( In thousands Value Cost Value Cost Value Cost Value Cost Value Cost Available for sale: U.S. GSE securities $ — $ — $ 26,593 $ 26,994 $ 37,056 $ 37,999 $ — $ — $ 63,649 $ 64,993 State and municipal obligations 14,635 14,638 50,964 51,473 42,921 43,461 7,645 7,720 116,165 117,292 U.S. GSE residential mortgage-backed securities — — — — 16,124 16,227 141,924 144,219 158,048 160,446 U.S. GSE residential collateralized mortgage obligations — — — — 9,263 9,361 358,248 363,737 367,511 373,098 U.S. GSE commercial mortgage-backed securities — — — — 6,307 6,337 — — 6,307 6,337 U.S. GSE commercial collateralized mortgage obligations — — — — — — 55,192 56,148 55,192 56,148 Other asset backed securities — — — — — — 22,553 24,250 22,553 24,250 Corporate bonds — — — — 30,297 32,000 — — 30,297 32,000 Total available for sale 14,635 14,638 77,557 78,467 141,968 145,385 585,562 596,074 819,722 834,564 Held to maturity: State and municipal obligations 9,631 9,635 16,982 16,818 39,133 38,361 1,875 1,852 67,621 66,666 U.S. GSE residential mortgage-backed securities — — — — 1,688 1,701 11,468 11,742 13,156 13,443 U.S. GSE residential collateralized mortgage obligations — — — — 7,389 7,394 54,050 54,245 61,439 61,639 U.S. GSE commercial mortgage-backed securities — — 5,016 5,063 14,568 14,621 8,815 9,088 28,399 28,772 U.S. GSE commercial collateralized mortgage obligations — — — — 4,930 5,129 36,307 36,588 41,237 41,717 Corporate bonds 11,026 11,000 — — — — — — 11,026 11,000 Total held to maturity 20,657 20,635 21,998 21,881 67,708 67,206 112,515 113,515 222,878 223,237 Total securities $ 35,292 $ 35,273 $ 99,555 $ 100,348 $ 209,676 $ 212,591 $ 698,077 $ 709,589 $ 1,042,600 $ 1,057,801 There were $264.4 million of proceeds on sales of available for sale securities with gross gains of approximately $1.6 million and gross losses of approximately $1.2 million realized in 2016. 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. Securities having a fair value of $570.1 million and $611.0 million at December 31, 2016 and 2015, respectively, were pledged to secure public deposits and FHLB and FRB overnight borrowings. The Company did not hold any trading securities during the years ended December 31, 2016 and 2015. The Bank is a member of the FHLB of New York. 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. The Bank is a member of the Atlantic Central Banker’s Bank (“ACBB”) and is required to own ACBB stock. The Bank is also a member of the FRB system and required to own FRB stock. FHLB, ACBB and FRB stock is carried at cost and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. The Bank owned $34.7 million and $24.8 million in FHLB, ACBB and FRB stock at December 31, 2016 and 2015, respectively. These amounts were reported as restricted securities in the consolidated balance sheets. As of December 31, 2016 and 2015, there was no issuer, other than the U.S. Government and its sponsored entities, where the Bank had invested holdings that exceeded 10% of consolidated stockholders’ equity.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2016
LOANS
LOANS	3. LOANS The following table sets forth the major classifications of loans: December 31, ( In thousands 2016 2015 Commercial real estate mortgage loans $ 1,016,983 $ 999,474 Multi-family mortgage loans 518,146 350,793 Residential real estate mortgage loans 439,653 446,740 Commercial, industrial and agricultural loans 524,450 501,766 Real estate construction and land loans 80,605 91,153 Installment/consumer loans 16,368 17,596 Total loans 2,596,205 2,407,522 Net deferred loan costs and fees 4,235 3,252 Total loans held for investment 2,600,440 2,410,774 Allowance for loan losses (25,904 ) (20,744 ) Net loans $ 2,574,536 $ 2,390,030 On June 19, 2015, the Company completed the acquisition of Community National Bank (“CNB”) resulting in the addition of $729.4 million of acquired loans recorded at their fair value. There were approximately $464.2 million and $659.7 million of acquired CNB loans remaining as of December 31, 2016 and 2015, respectively. 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 $26.5 million and $37.7 million of acquired FNBNY loans remaining as of December 31, 2016 and 2015, respectively. Lending Risk The principal business of the Bank is lending in commercial real estate mortgage loans, multi-family mortgage loans, residential real estate mortgage loans, construction loans, home equity loans, commercial, industrial and agricultural loans, land loans and consumer loans. The Bank considers its primary lending area to be Nassau and Suffolk Counties located on Long Island and the New York City boroughs. A substantial portion of the Bank’s loans are secured by real estate in these areas. Accordingly, the ultimate collectibility of the 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 located largely in the Bank’s 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 five 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 may be 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 generally 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, equipment financing 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. Construction delays, cost overruns, market conditions and the availability of permanent financing, to the extent such permanent financing is not being provided by the Bank, all affect the credit risk in this loan class. Installment and Consumer Loans Loans in this classification may be either secured or unsecured. 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 following tables represent the changes in the allowance for loan losses for the years ended December 31, 2016, 2015 and 2014, by portfolio segment, as defined under FASB ASC 310-10. The portfolio segments represent the categories that the Bank uses to determine its allowance for loan losses. Year Ended December 31, 2016 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Beginning balance $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Charge-offs — — (56 ) (930 ) — (1 ) (987 ) Recoveries 109 — 96 386 — 6 597 Provision 800 2,056 (194 ) 2,976 (75 ) (13 ) 5,550 Ending balance $ 8,759 $ 6,264 $ 1,961 $ 7,837 $ 955 $ 128 $ 25,904 Year Ended December 31, 2015 (In thousands) Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total 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 Year Ended December 31, 2014 (In thousands) Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total 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 The following tables represent the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment, as defined under FASB ASC 310-10, and based on impairment method as of December 31, 2016 and 2015. The tables include loans acquired on June 19, 2015 from CNB and February 14, 2014 from FNBNY. December 31, 2016 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ 1 $ — $ — $ 1 Collectively evaluated for impairment 8,759 6,264 1,961 7,836 955 128 25,903 Loans acquired with deteriorated credit quality — — — — — — — Total allowance for loan losses $ 8,759 $ 6,264 $ 1,961 $ 7,837 $ 955 $ 128 $ 25,904 Loans: Individually evaluated for impairment $ 1,539 $ — $ 784 $ 1,030 $ — $ — $ 3,353 Collectively evaluated for impairment 1,013,563 514,853 437,999 519,686 80,605 16,368 2,583,074 Loans acquired with deteriorated credit quality 1,881 3,293 870 3,734 — — 9,778 Total loans $ 1,016,983 $ 518,146 $ 439,653 $ 524,450 $ 80,605 $ 16,368 $ 2,596,205 December 31, 2015 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Individually evaluated for impairment $ 20 $ — $ — $ 9 $ — $ — $ 29 Collectively evaluated for impairment 7,830 4,208 2,115 5,396 1,030 136 20,715 Loans acquired with deteriorated credit quality — — — — — — — Total allowance for loan losses $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Loans: Individually evaluated for impairment $ 1,629 $ — $ 672 $ 290 $ — $ — $ 2,591 Collectively evaluated for impairment 992,137 347,054 444,801 495,074 91,153 17,596 2,387,815 Loans acquired with deteriorated credit quality 5,708 3,739 1,267 6,402 — — 17,116 Total loans $ 999,474 $ 350,793 $ 446,740 $ 501,766 $ 91,153 $ 17,596 $ 2,407,522 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 of pass, special mention, substandard and doubtful 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: Special mention: Substandard: Doubtful: The following tables represent loans categorized by class and internally assigned risk grades: December 31, 2016 (In thousands) Pass Special Mention Substandard Doubtful Total Commercial real estate: Owner occupied $ 404,584 $ 18,909 $ 722 $ — $ 424,215 Non-owner occupied 569,870 20,035 2,863 — 592,768 Multi-family 518,146 — — — 518,146 Residential real estate: Residential mortgage 372,853 82 1,583 — 374,518 Home equity 64,195 563 377 — 65,135 Commercial and industrial: Secured 75,837 31,143 2,254 — 109,234 Unsecured 409,879 2,493 2,844 — 415,216 Real estate construction and land loans 80,272 — 333 — 80,605 Installment/consumer loans 16,268 — 100 — 16,368 Total loans $ 2,511,904 $ 73,225 $ 11,076 $ — $ 2,596,205 At December 31, 2016 there were $0.01 million and $1.5 million of acquired CNB loans included in the special mention and substandard grades, respectively, and $0.2 million and $0.2 million of acquired FNBNY loans included in the special mention and substandard grades, respectively. December 31, 2015 (In thousands) Pass Special Mention Substandard Doubtful Total Commercial real estate: Owner occupied $ 465,967 $ 3,239 $ 2,115 $ — $ 471,321 Non-owner occupied 519,124 542 8,487 — 528,153 Multi-family 350,785 — 8 — 350,793 Residential real estate: Residential mortgage 377,482 87 845 — 378,414 Home equity 66,910 523 893 — 68,326 Commercial and industrial: 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 of acquired CNB loans included in the special mention and substandard grades, respectively, and $0.1 million and $0.2 million of acquired FNBNY loans included in the special mention and substandard grades, respectively. Past Due and Nonaccrual Loans The following tables represent the aging of the recorded investment in past due loans as of December 31, 2016 and 2015 by class of loans, as defined by FASB ASC 310-10: December 31, 2016 (In thousands) 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 Commercial real estate: Owner occupied $ 222 $ — $ 467 $ 184 $ 873 $ 423,342 $ 424,215 Non-owner occupied — — — — — 592,768 592,768 Multi-family — — — — — 518,146 518,146 Residential real estate: Residential mortgages 1,232 — — 770 2,002 372,516 374,518 Home equity 532 — 238 265 1,035 64,100 65,135 Commercial and industrial: Secured 27 — 204 — 231 109,003 109,234 Unsecured 115 — 118 22 255 414,961 415,216 Real estate construction and land loans — — — — — 80,605 80,605 Installment/consumer loans 28 — — — 28 16,340 16,368 Total loans $ 2,156 $ — $ 1,027 $ 1,241 $ 4,424 $ 2,591,781 $ 2,596,205 December 31, 2015 (In thousands) 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 Commercial real estate: Owner occupied $ — $ — $ 435 $ 631 $ 1,066 $ 470,255 $ 471,321 Non-owner occupied — — — — — 528,153 528,153 Multi-family — — — — — 350,793 350,793 Residential real estate: Residential mortgages 939 245 — 62 1,246 377,168 378,414 Home equity 69 100 188 610 967 67,359 68,326 Commercial and industrial: 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 There were no FNBNY acquired loans 30-89 days past due at December 31, 2016 and 2015. There were $1.0 million and $1.2 million of CNB acquired loans that were 30-89 days past due at December 31, 2016 and 2015, respectively. All loans 90 days or more past due that are still accruing interest represent loans acquired from CNB, FNBNY and Hamptons State Bank (“HSB”) which were recorded at fair value upon acquisition. These loans are considered to be accruing as management can reasonably estimate future cash flows and expects 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 At December 31, 2016 and 2015, the Company had individually impaired loans as defined by FASB ASC No. 310, “Receivables” of $3.4 million and $2.6 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 restructurings (“TDRs”). 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 on 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. The following tables set forth the recorded investment, unpaid principal balance and related allowance by class of loans at December 31, 2016, 2015 and 2014 for individually impaired loans. The tables also set forth the average recorded investment of individually impaired loans and interest income recognized while the loans were impaired during the years ended December 31, 2016, 2015 and 2014: December 31, 2016 Year Ended December 31, 2016 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate: Owner occupied $ 326 $ 538 $ — $ 176 $ 10 Non-owner occupied 1,213 1,213 — 614 75 Residential real estate: Residential mortgages 520 558 — 276 — Home equity 264 285 — 328 — Commercial and industrial: Secured 556 556 — 274 12 Unsecured 408 408 — 227 19 Total with no related allowance recorded 3,287 3,558 — 1,895 116 With an allowance recorded: Commercial real estate: Owner occupied — — — — — Non-owner occupied — — — — — Residential real estate: Residential mortgages — — — — — Home equity — — — — — Commercial and industrial: Secured — — — — — Unsecured 66 66 1 43 7 Total with an allowance recorded 66 66 1 43 7 Total: Commercial real estate: Owner occupied 326 538 — 176 10 Non-owner occupied 1,213 1,213 — 614 75 Residential real estate: Residential mortgages 520 558 — 276 — Home equity 264 285 — 328 — Commercial and industrial: Secured 556 556 — 274 12 Unsecured 474 474 1 270 26 Total $ 3,353 $ 3,624 $ 1 $ 1,938 $ 123 December 31, 2015 Year Ended December 31, 2015 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Recognized 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 and industrial: 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 — — — — — Non-owner occupied 318 318 20 320 15 Residential real estate: Residential mortgages — — — — — Home equity — — — — — Commercial and industrial: Secured — — — — — 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 and industrial: Secured 96 96 — 93 6 Unsecured 194 194 9 223 17 Total $ 2,591 $ 2,873 $ 29 $ 2,683 $ 110 December 31, 2014 Year Ended December 31, 2014 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized 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 and industrial: 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 — — — — — Non-owner occupied 323 323 23 27 — Residential real estate: Residential mortgages — — — — — Home equity 71 89 72 75 13 Commercial and industrial: Secured — — — — — 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 and industrial: Secured 345 345 — 354 25 Unsecured 337 339 79 206 — Total $ 6,201 $ 6,979 $ 174 $ 6,025 $ 214 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 no other real estate owned at December 31, 2016 compared to $250,000 at December 31, 2015. Troubled Debt Restructurings The terms of certain loans were modified and are considered TDRs. 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 loans 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. The following table presents loans by class modified as troubled debt restructurings during the years indicated: Modifications During the Years Ended December 31, 2016 2015 2014 ( Dollars in thousands) Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Owner occupied — $ — $ — — $ — $ — — $ — $ — Non-owner occupied — — — — — — 1 323 323 Residential real estate: Residential mortgages 1 252 252 — — — — — — Home equity 1 69 69 — — — 1 127 127 Commercial and industrial: Secured 3 459 459 — — — — — — Unsecured 1 525 525 3 160 160 1 127 127 Installment/consumer loans — — — — — — 1 5 5 Total 6 $ 1,305 $ 1,305 3 $ 160 $ 160 4 $ 582 $ 582 The TDRs described above did not increase the allowance for loan losses during the years ended December 31, 2016, 2015 and 2014. There were $0.1 million, $0.7 million and $0.5 million of charge-offs related to TDRs during the years ended December 31, 2016, 2015 and 2014, respectively. There was one loan modified as a TDR during 2016 where there was a payment default. This loan has since been brought current. There were no loans modified as TDRs during 2015 and 2014 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. At December 31, 2016 and 2015, the Company had $0.3 million and $0.1 million, respectively, of nonaccrual TDRs and $2.4 million and $1.7 million, respectively, of performing TDRs. At December 31, 2016 and 2015, total nonaccrual TDRs are secured with collateral that has an appraised value of $1.3 million and $0.3 million, respectively. The Bank has no commitment to lend additional funds to these debtors. The terms of certain other loans were modified during the year ended December 31, 2016 that did not meet the definition of a TDR. These loans have a total recorded investment at December 31, 2016 of $38.9 million. These loans were 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 principal 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 FASB 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 about the collection of the loan. The Bank makes an estimate of the loans’ contractual principal and contractual interest payments as well as the expected total cash flows 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 the allowance for loan losses. A PCI loan may be resolved either through a sale of the loan, by working with the customer and obtaining partial or full repayment, by short sale of the collateral, or by foreclosure. When a loan accounted for in a pool is resolved, it is removed from the pool at its carrying amount. Any differences between the amounts received and the outstanding balance are absorbed by the non-accretable difference of the pool. For loans not accounted for in pools, a gain or loss on resolution would be recognized based on the difference between the proceeds received and the carrying amount of the loan. Payments received earlier than expected or in excess of expected cash flows from sales or other resolutions may result in the carrying value of a pool being reduced to zero even though outstanding contractual balances and expected cash flows remain related to loans in the pool. Once the carrying value of a pool is reduced to zero, any future proceeds from the remaining loans, representing further realization of accretable yield, are recognized as interest income upon receipt. These proceeds may include cash or real estate acquired in foreclosure. At the acquisition date, the PCI loans acquired as part of the FNBNY acquisition had contractually required principal and interest payments receivable of $40.3 million; expected cash flows of $28.4 million; and a fair value (initial carrying amount) of $21.8 million. The difference between the contractually required principal and interest payments receivable and the expected cash flows of $11.9 million represented the non-accretable difference. The difference between the expected cash flows and fair value of $6.6 million represented the initial accretable yield. At December 31, 2016, the contractually required principal and interest payments receivable and carrying amount of the purchased credit impaired loans was $12.2 million and $7.0 million, respectively, with a remaining non-accretable difference of $1.3 million. At December 31, 2015, the contractually required principal and interest payments receivable and carrying amount of the purchased credit impaired loans was $16.7 million and $8.3 million, respectively, with a remaining non-accretable difference of $1.5 million. At the acquisition date, the PCI loans acquired as part of the CNB acquisition had contractually required principal and interest payments receivable of $23.4 million, expected cash flows of $10.1 million, and a fair value (initial carrying amount) of $8.7 million. The difference between the contractually required principal and interest payments receivable and the expected cash flows of $13.3 million represented the non-accretable difference. The difference between the expected cash flows and fair value of $1.4 million represented the initial accretable yield. At December 31, 2016, the contractually required principal and interest payments receivable and carrying amount of the purchased credit impaired loans was $12.2 million and $2.3 million, respectively, with a remaining non-accretable difference of $6.9 million. At December 31, 2015, the contractually required principal and interest payments receivable and carrying amount of the purchased credit impaired loans was $22.5 million and $8.2 million, respectively, with a remaining non-accretable difference of $13.3 million. The following table summarizes the activity in the accretable yield for the purchased credit impaired loans: Year Ended December 31, (In thousands) 2016 2015 Balance at beginning of period $ 7,113 $ 8,432 Accretable discount arising from acquisition of PCI loans — 259 Accretion (4,924 ) (3,570 ) Reclassification from nonaccretable difference during the period 4,492 1,992 Other 234 — Accretable discount at end of period $ 6,915 $ 7,113 The allowance for loan losses was not increased during the years ended December 31, 2016 and 2015 for those purchased credit impaired loans disclosed above. In addition, no allowances for loan losses were reversed during 2016. Related Party Loans Certain directors, executive officers, and their related parties, including their immediate families and companies in which they are principal owners, were loan customers of the Bank during 2016 and 2015. The following table sets forth selected information about related party loans for the year ended December 31, 2016: (In thousands) Balance Outstanding Balance at January 1, 2016 $ 22,789 New loans 1,901 Repayments (2,574 ) Balance at December 31, 2016 $ 22,116

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT The following table details the components of premises and equipment: December 31, (In thousands) 2016 2015 Land $ 7,951 $ 7,381 Building and improvements 15,272 14,839 Furniture, fixtures and equipment 20,295 22,292 Leasehold improvements 13,562 17,887 57,080 62,399 Accumulated depreciation and amortization (21,817 ) (22,804 ) Total $ 35,263 $ 39,595 Depreciation and amortization amounted to $3.5 million, $3.6 million and $2.6 million for the years ended December 31, 2016, 2015 and 2014, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2016
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 comparing 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 2016. The Company has one reporting unit, Bridge Bancorp. Inc., and evaluated goodwill at that reporting unit level. The Company 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 following table reflects the changes in goodwill: Year Ended December 31, (In thousands) 2016 2015 Balance at January 1 $ 98,445 $ 9,450 Acquired goodwill — 88,995 Measurement period adjustments (1) 7,505 — Impairment — — Balance at December 31 $ 105,950 $ 98,445 (1) See Note 20 for details on the measurement period adjustments. Acquired Intangible Assets The following table reflects acquired intangible assets: December 31, 2016 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Core deposit intangibles $ 7,211 $ 2,362 $ 7,211 $ 1,186 Non-compete intangible — — 2,188 730 Total $ 7,211 $ 2,362 $ 9,399 $ 1,916 Aggregate amortization expense for the years ended December 31, 2016, 2015, and 2014 was $2.6 million, $1.4 million, and $0.3 million, respectively. The following table reflects estimated amortization expense for each of the next five years and thereafter: (In thousands) Total 2017 $ 1,047 2018 917 2019 787 2020 656 2021 531 Thereafter 911 Total $ 4,849

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2016
DEPOSITS
DEPOSITS	6. DEPOSITS Time Deposits The following table sets forth the remaining maturities of the Bank’s time deposits at December 31, 2016: (In thousands) Total 2017 $ 98,272 2018 38,660 2019 20,317 2020 5,724 2021 43,388 Thereafter 371 Total $ 206,732 The deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2016 and 2015 were $65.4 million and $52.0 million, respectively. Deposits from principal officers, directors and their affiliates at December 31, 2016 and 2015 were approximately $13.9 million and $13.3 million, respectively.

SECURITIES SOLD UNDER AGREEMENT

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	12 Months Ended
	Dec. 31, 2016
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	7. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase totaled $0.7 million at December 31, 2016 and $50.9 million at December 31, 2015. The repurchase agreements were collateralized by investment securities, of which 49% were U.S. GSE residential collateralized mortgage obligations and 51% were U.S. GSE residential mortgage-backed securities with a carrying amount of $2.3 million at December 31, 2016 and 96% were U.S. GSE securities and 4% were U.S. GSE residential collateralized mortgage obligations with a carrying amount of $55.9 million at December 31, 2015. Securities sold under agreements to repurchase are financing arrangements with $0.7 million maturing during the first quarter of 2017. At maturity, the securities underlying the agreements are returned to the Company. The following table summarizes information concerning securities sold under agreements to repurchase: Year Ended December 31, (Dollars in thousands) 2016 2015 Average daily balance during the year $ 45,630 $ 30,317 Average interest rate during the year 0.85 % 0.65 % Maximum month-end balance during the year $ 51,197 $ 51,400 Weighted average interest rate at year-end 0.83 % 0.64 % 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 the Company’s policies, eligible counterparties are defined and monitored to minimize exposure.

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES	8. FEDERAL HOME LOAN BANK ADVANCES The following tables set 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. (Dollars in thousands) December 31, 2016 Contractual Maturity Amount Weighted Average Rate Overnight $ 175,000 0.74 % 2017 294,113 0.82 % 2018 25,431 1.05 2019 2,140 1.04 321,684 0.84 % Total FHLB advances $ 496,684 0.80 % (Dollars in thousands) December 31, 2015 Contractual Maturity Amount Weighted Average Rate 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 % Total FHLB advances $ 297,507 0.78 % Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances were collateralized by $923.9 million and $666.3 million of residential and commercial mortgage loans under a blanket lien arrangement at December 31, 2016 and 2015, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company is eligible to borrow up to a total of $1.22 billion at December 31, 2016.

BORROWED FUNDS

BORROWED FUNDS	12 Months Ended
	Dec. 31, 2016
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. $40.0 million of the subordinated debentures 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 subordinated debentures 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 subordinated debentures totaled $78.5 million at December 31, 2016 and $78.4 million at December 31, 2015. The subordinated debentures 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, prior to May 27, 2016, were convertible into the Company’s common stock, at an effective conversion price of $31 per share. The TPS mature in 2039 but are callable by the Company at par any time after September 30, 2014. On May 27, 2016, the Company permanently increased the conversion ratio of the TPS from 32.2581 shares, representing a conversion price of $31 per share, to 34.4828 shares, representing a conversion price of $29 per share. This increase in the conversion ratio was accounted for as a modification of the TPS which resulted in a $0.4 million decrease in the TPS balance and a corresponding increase to Surplus which represents the increase in the fair value of the conversion option immediately before and after the modification. The decrease in the TPS balance resulting from the modification will be amortized as a yield adjustment over the remaining term of the TPS consistent with the related deferred debt issuance costs. The Company issued $16.0 million of junior subordinated debentures (the “Debentures”) to the trust in exchange for ownership of all of the common securities 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 are included in tier 1 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. During the year ended December 31, 2016, 300 shares of TPS with a liquidation amount of $300,000 were converted into 10,344 shares of the Company’s common stock. The conversions are reflected in the Consolidated Statement of Stockholders’ Equity for the year ended December 31, 2016. The TPS and Debentures, net totaled $15.2 million at December 31, 2016 and $15.9 million at December 31, 2015. On December 15, 2016, the Company notified holders of the TPS of the full redemption of the TPS on January 18, 2017. The redemption price equaled the liquidation amount, plus accrued but unpaid interest until but not including the redemption date. TPS not converted into shares of the Company’s common stock on or prior to January 17, 2017 were redeemed as of January 18, 2017. 15,450 shares of TPS with a liquidation amount of $15.5 million were converted into 532,740 shares of the Company’s common stock, which includes 100 shares of TPS with a liquidation amount of $100,000 which were converted into 3,448 shares of the Company’s common stock on December 28, 2016. The remaining 350 shares of TPS with a liquidation amount of $350,000 were redeemed on January 18, 2017.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2016
DERIVATIVES
DERIVATIVES	10. DERIVATIVES Cash Flow Hedges of Interest Rate Risk As part of its asset liability management, the Company utilizes interest rate swap agreements to help manage its interest rate risk position. The notional amount of the interest rate swap does not represent the amount 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 $175.0 million and $125.0 million as of December 31, 2016 and 2015, respectively, were designated as cash flow hedges of certain FHLB advances. 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. The following table summarizes information about the interest rate swaps designated as cash flow hedges: December 31, (Dollars in thousands) 2016 2015 Notional amounts $ 175,000 $ 125,000 Weighted average pay rates 1.61 % 1.58 % Weighted average receive rates 0.95 % 0.51 % Weighted average maturity 2.98 years 3.22 years Interest expense recorded on these swap transactions totaled $944,000, $657,000 and $470,000 during the years ended December 31, 2016, 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, 2016, the Company had $944,000 of reclassifications to interest expense. During the next twelve months, the Company estimates that $805,000 will be reclassified as an increase in interest expense. The following table presents 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 years ended December 31, 2016, 2015 and 2014: (In thousands) Interest rate contracts Amount of gain (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) Year ended December 31, 2016 $ 1,191 $ (944 ) $ — Year ended December 31, 2015 $ (1,008 ) $ (657 ) $ — Year ended December 31, 2014 $ (1,249 ) $ (470 ) $ — The following table reflects the cash flow hedges included in the Consolidated Balance Sheets: December 31, 2016 2015 Fair Fair Fair Fair (In thousands) Notional Value Value Notional Value Value Included in other assets/(liabilities): Amount Asset Liability Amount Asset Liability Interest rate swaps related to FHLB advances $ 175,000 $ 1,994 $ (1,153 ) $ 100,000 $ 14 $ (713 ) Forward starting interest rate swap related to FHLB advances — — — 25,000 — (595 ) 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 the interest rate swaps: December 31, (Dollars in thousands) 2016 2015 Notional amounts $ 62,472 $ 56,328 Weighted average pay rates 3.50 % 3.39 % Weighted average receive rates 3.50 % 3.39 % Weighted average maturity 13.97 years 15.59 years Fair value of combined interest rate swaps $ — $ — Credit-Risk-Related Contingent Features As of December 31, 2016 the termination value of derivatives in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $0.6 million. The Company has minimum collateral posting thresholds with certain of its derivative counterparties. If the termination value of derivatives is a net liability position, the Company is required to post collateral against its obligations under the agreements. However, if the termination value of derivatives is a net asset position, the counterparty is required to post collateral to the Company. At December 31, 2016, the Company had received collateral of $1.2 million from its counterparty under these agreements. If the Company had breached any of these provisions at December 31, 2016, 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, 2016
INCOME TAXES
INCOME TAXES	11. INCOME TAXES The following table details the components of income tax expense: Year Ended December 31, (In thousands) 2016 2015 2014 Current: Federal $ 14,730 $ 8,248 $ 3,926 State 780 1,230 507 Total current 15,510 9,478 4,433 Deferred: Federal 2,388 1,457 2,187 State 897 (157 ) 619 Total deferred 3,285 1,300 2,806 Total income tax expense $ 18,795 $ 10,778 $ 7,239 The following table is a reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision: Year Ended December 31, 2016 2015 2014 (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 $ 19,000 35 % $ 11,161 35 % $ 7,141 34 % Tax exempt interest (986 ) (2 ) (927 ) (3 ) (665 ) (3 ) State taxes, net of federal income tax benefit 1,090 2 1,087 3 743 4 Other (309 ) — (543 ) (1 ) 20 — Income tax expense $ 18,795 35 % $ 10,778 34 % $ 7,239 35 % The following table summarizes the composition of deferred tax assets and liabilities: December 31, (In thousands) 2016 2015 Deferred tax assets: Allowance for loan losses and off-balance sheet credit exposure $ 11,401 $ 9,154 Net unrealized losses on securities 6,019 3,224 Compensation and related benefit obligations 2,226 1,435 Purchase accounting fair value adjustments 14,376 15,942 Net change in pension and other post-retirement benefits plans 3,249 2,811 Net operating loss carryforward 2,470 1,955 Net loss on cash flow hedges - 524 Other 756 672 Total deferred tax assets 40,497 35,717 Deferred tax liabilities: Pension and SERP expense (4,715 ) (4,142 ) Depreciation (1,537 ) (1,828 ) REIT undistributed net income (86 ) (482 ) Net deferred loan costs and fees (1,844 ) (1,416 ) Net gain on cash flow hedges (341 ) - State and local taxes (1,862 ) (1,541 ) Other (179 ) - Total deferred tax liabilities (10,564 ) (9,409 ) Net deferred tax asset $ 29,933 $ 26,308 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 2013. 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 tax law changes on the carrying amount of the Company’s deferred tax assets and liabilities was 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, 2016, the remaining NOL carryforward was $4.0 million. In connection with the CNB acquisition, the Company acquired New York State and New York City net operating losses in the amount of $14.8 million and $6.2 million, respectively. The Company recorded a deferred tax asset that it expects to realize within the carryforward period.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2016
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS	12. EMPLOYEE BENEFITS Pension Plan and Supplemental Executive Retirement Plan The Bank maintains a noncontributory pension plan (the “Plan”) covering all eligible employees. The Bank uses a December 31 st During 2001, the Bank adopted the Bridgehampton National Bank Supplemental Executive Retirement Plan (“SERP”). As recommended by the Compensation Committee of the Board of Directors and approved by the full Board of Directors, the SERP provides benefits to certain employees, 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. The following table provides 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 Year Ended December 31, Year Ended December 31, (In thousands) 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 18,515 $ 18,960 $ 2,555 $ 2,457 Service cost 1,153 1,134 176 168 Interest cost 794 706 105 91 Benefits paid and expected expenses (279 ) (264 ) (112 ) (112 ) Assumption changes and other 661 (2,021 ) 280 (49 ) Benefit obligation at end of year $ 20,844 $ 18,515 $ 3,004 $ 2,555 Change in plan assets: Fair value of plan assets at beginning of year $ 24,562 $ 23,887 $ — $ — Actual return on plan assets 1,416 (60 ) — — Employer contribution 2,215 999 112 112 Benefits paid and actual expenses (279 ) (264 ) (112 ) (112 ) Fair value of plan assets at end of year $ 27,914 $ 24,562 $ — $ — Funded status at end of year $ 7,070 $ 6,047 $ (3,004 ) $ (2,555 ) The following table presents amounts recognized in accumulated other comprehensive income at December 31: Pension Benefits SERP Benefits December 31, December 31, (In thousands) 2016 2015 2016 2015 Net actuarial loss $ 7,874 $ 7,108 $ 800 $ 546 Prior service cost (715 ) (792 ) — — Transition obligation — — 32 60 Net amount recognized $ 7,159 $ 6,316 $ 832 $ 606 The accumulated benefit obligation was $19.4 million for the pension plan and $2.2 million for the SERP as of December 31, 2016. As of December 31, 2015, the accumulated benefit obligation was $17.1 million for the pension plan and $1.9 million for the SERP. The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income: Pension Benefits SERP Benefits Year Ended December 31, Year Ended December 31, (In thousands) 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost and other amounts recognized in other comprehensive income: Service cost $ 1,153 $ 1,134 $ 905 $ 176 $ 168 $ 132 Interest cost 794 706 639 105 91 88 Expected return on plan assets (1,927 ) (1,838 ) (1,625 ) — — — Amortization of net loss 406 376 27 27 32 — Amortization of prior service credit (77 ) (77 ) (77 ) — — — Amortization of transition obligation — — — 28 28 28 Net periodic benefit cost (credit) $ 349 $ 301 $ (131 ) $ 336 $ 319 $ 248 Net loss (gain) $ 1,172 $ (123 ) $ 5,099 $ 280 $ (48 ) $ 430 Amortization of net loss (406 ) (376 ) (27 ) (27 ) (32 ) — Amortization of prior service credit 77 77 77 — — — Amortization of transition obligation — — — (28 ) (27 ) (27 ) Total recognized in other comprehensive income $ 843 $ (422 ) $ 5,149 $ 225 $ (107 ) $ 403 The estimated net loss 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 $450,000 and $77,000, respectively. The estimated net loss and 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 $51,000 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 December 31, December 31, 2016 2015 2014 2016 2015 2014 Weighted average assumptions used to determine benefit obligations: Discount rate 4.05 % 4.30 % 3.90 % 4.01 % 4.20 % 3.80 % 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 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 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 Assets are overseen by a Committee comprised of management, who meet semi-annually, and sets the investment policy guidelines. The Plan’s overall investment strategy is to achieve a mix of approximately 97% of investments for long - - The weighted average expected long term rate-of-return is estimated based on current trends in Plan assets as well as projected future rates of return on those assets and reasonable actuarial assumptions based on the guidance provided by Actuarial Standard of Practice No. 27 for the real and nominal rate of investment return for a specific mix of asset classes. The long term rate of return considers historical returns for the S&P 500 index and corporate bonds from 1926 to 2015 representing cumulative returns of approximately 10% and 5%, respectively. These returns were considered along with the target allocations of asset categories. The following table indicates the target allocations for Plan assets: Target Allocation Percentage of Plan Assets At December 31, Weighted-Average Expected Long- term Rate of Asset Category 2017 2016 2015 Return Cash Equivalents 0 – 5 % 3.0 % 4.6 % — Equity Securities 45 - 65 % 64.0 % 62.2 % 10.0 % Fixed income securities 35 - 55 % 33.0 % 33.2 % 5.0 % Total 100.0 % 100.0 % 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: letter stock, private placements, or direct payments; securities not readily marketable; Bridge Bancorp, Inc. stock.; pledging or hypothecating securities, except for loans of securities that are fully collateralized; purchasing or selling derivative securities for speculation or leverage; and investments by the investment managers in their own securities, their affiliates or subsidiaries (excluding money market funds). Fair value is defined under FASB 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. These levels are described in Note 15. 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 as 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, 2016 and 2015: December 31, 2016: Fair Value Measurements Using: (Dollars in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents: Cash $ — $ — $ — Short term investment funds 822 — 822 Total cash and cash equivalents 822 — 822 Equities: U.S. large cap 8,950 8,950 — U.S. mid cap/small cap 3,038 3,038 — International 5,770 5,770 — Equities blend 124 124 — Total equities 17,882 17,882 — Fixed income securities: Government issues 1,948 1,706 242 Corporate bonds 1,795 — 1,795 Mortgage backed 960 — 960 High yield bonds and bond funds 4,507 — 4,507 Total fixed income securities 9,210 1,706 7,504 Total plan assets $ 27,914 $ 19,588 $ 8,326 December 31, 2015 Fair Value Measurements Using: (Dollars in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents: Cash $ 1,129 $ 1,129 $ — Short term investment funds 21 — 21 Total cash and 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 The Company has no minimum required pension contribution due to the overfunded status of the plan. Estimated Future Payments The following table summarizes benefits expected to be paid under the pension plan and SERP as of December 31, 2016, which reflect expected future service: Pension and SERP Payments Year (in thousands) 2017 $ 574 2018 677 2019 740 2020 908 2021 1,005 2022-2026 6,476 401(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 60 th Equity Incentive Plan The Bridge Bancorp, Inc. 2012 Stock-Based Incentive Plan (the “2012 Equity Incentive Plan”) provides for the grant of stock-based and other incentive awards to officers, employees and directors of the Company. The plan superseded the Bridge Bancorp, Inc. 2006 Equity Incentive Plan. The number of shares of common stock of Bridge Bancorp, Inc. available for stock-based awards under the 2012 Equity Incentive Plan is 525,000 plus 278,385 shares that were remaining under the 2006 Equity Incentive Plan. Of the total 803,385 shares of common stock approved for issuance under the 2012 Equity Incentive Plan, 503,705 shares remain available for issuance at December 31, 2016, 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 2012 Equity Incentive Plan. The Company accounts for the 2012 Equity Incentive Plan under FASB ASC No. 718. 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, 2016, 2015 and 2014 and there was no compensation expense attributable to stock options for the years ended December 31, 2016, 2015 and 2014 because all stock options were vested. The following tables summarize stock option activity for the year ended December 31, 2016: (Dollars in thousands, except per share amounts) Number of Options Weighted Average Exercise Price Outstanding, January 1, 2016 23,725 $ 25.25 Exercised (23,725 ) $ 25.25 Outstanding, December 31, 2016 — Year Ended December 31, (In thousands) 2016 2015 2014 Intrinsic value of options exercised $ 115 $ 52 $ 4 Cash received from options exercised 62 80 4 Tax benefit realized from option exercised — — — Restricted Stock Awards The following table summarizes the unvested restricted stock activity for the year ended December 31, 2016: Shares Weighted Average Grant-Date Fair Value Unvested, January 1, 2016 281,076 $ 23.46 Granted 69,309 $ 27.99 Vested (41,727 ) $ 22.42 Forfeited (6,667 ) $ 25.95 Unvested, December 31, 2016 301,991 $ 24.59 During the year ended December 31, 2016, the Company granted restricted stock awards of 69,309 shares. Of the 69,309 shares granted, 36,000 shares vest over seven years with a third vesting after years five, six and seven, 27,709 shares vest over five years with a third vesting after years three, four and five, and 5,600 shares vest ratably over 3 years. During the year ended December 31, 2015, the Company granted restricted stock awards of 71,187 shares. Of the 71,187 shares granted, 30,625 shares vest over seven years with a third vesting after years five, six and seven, 24,812 shares vest over 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 stock awards of 80,273 shares. Of the 80,273 shares granted, 53,425 shares vest over seven years with a third vesting after years five, six and seven, 20,598 shares vest over five years with a third vesting after years three, four and five and 6,250 shares vest ratably over two years. Compensation expense attributable to these awards was $1.5 million, $1.3 million and $1.1 million for the years ended December 31, 2016, 2015 and 2014, respectively. The total fair value of shares vested during the years ended December 31, 2016, 2015 and 2014, was $935,000, $732,000 and $579,000, respectively. As of December 31, 2016, there was $4.4 million of total unrecognized compensation costs related to non-vested restricted stock awards granted under the 2012 Equity Incentive Plan and the 2006 Equity Incentive Plan. The cost is expected to be recognized over a weighted-average period of 4.06 years. Restricted Stock Units Effective in 2015, the Board revised the design of the Long Term Incentive Plan (“LTI Plan”) for Named Executive Officers to include performance based awards. The LTI Plan includes 60% performance vested awards based on 3-year relative Total Shareholder Return to the proxy peer group and 40% time vested awards. The awards are in the form of restricted stock units which cliff vest after five years and require an additional two year holding period before being delivered in shares of common stock. The Company recorded expense of $193,000 and $81,000 in connection with these awards for the years ended December 31, 2016 and 2015, respectively. In April 2009, the Company adopted a Directors Deferred Compensation Plan (“Directors Plan”). Under the Directors 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 the Directors Plan, the Company recorded expense of $493,000, $342,000 and $147,000 for the years ended December 31, 2016, 2015 and 2014, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2016
EARNINGS PER SHARE
EARNINGS PER SHARE	13. EARNINGS PER SHARE FASB ASC No. 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 certain 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. The following is a reconciliation of earnings per share for the years ended December 31, 2016, 2015 and 2014: Year Ended December 31, (In thousands, except per share data) 2016 2015 2014 Net income $ 35,491 $ 21,111 $ 13,763 Dividends paid on and earnings allocated to participating securities (732 ) (451 ) (319 ) Income attributable to common stock $ 34,759 $ 20,660 $ 13,444 Weighted average common shares outstanding, including participating securities 17,670 14,792 11,633 Weighted average participating securities (366 ) (319 ) (278 ) Weighted average common shares outstanding 17,304 14,473 11,355 Basic earnings per common share $ 2.01 $ 1.43 $ 1.18 Income attributable to common stock $ 34,759 $ 20,660 $ 13,444 Impact of assumed conversions - interest on 8.5% trust preferred securities 878 — — Income attributable to common stock including assumed conversions $ 35,637 $ 20,660 $ 13,444 Weighted average common shares outstanding 17,304 14,473 11,355 Incremental shares from assumed conversions of options and restricted stock units 13 4 — Incremental shares from assumed conversions of 8.5% trust preferred securities 534 — — Weighted average common and equivalent shares outstanding 17,851 14,477 11,355 Diluted earnings per common share $ 2.00 $ 1.43 $ 1.18 There were no stock options that were antidilutive at December 31, 2016 and 2015. At December 31, 2014, there were 39,870 stock options outstanding 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 $15.7 million in convertible trust preferred securities outstanding at December 31, 2016 were dilutive for the year ended December 31, 2016 and therefore were included in the computation of diluted EPS. The $16.0 million in convertible trust preferred securities outstanding at December 31, 2015 and 2014 were not included in the computation of diluted earnings per share for the years then ended because the assumed conversion of the trust preferred securities was antidilutive during those years.

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS	12 Months Ended
	Dec. 31, 2016
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. Leases At December 31, 2016, the Company was obligated to make minimum annual rental payments under non-cancelable operating leases for its premises. Projected minimum rental payments under existing leases are as follows: Amount Year (In thousands) 2017 $ 7,201 2018 6,336 2019 5,853 2020 5,231 2021 4,795 Thereafter 20,285 Total $ 49,701 Certain leases contain rent escalation clauses which are reflected in the amounts listed above. In addition, certain leases provide for additional payments based on real estate taxes, interest and other charges. Certain leases contain renewal options which are not reflected in the table. Rent expense under operating leases for the years ended December 31, 2016, 2015 and 2014 totaled $6.8 million, $5.3 million, and $3.4 million, respectively, net of subleases. 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, (In thousands) 2016 2015 Standby letters of credit $ 21,507 $ 14,930 Loan commitments outstanding (1) 66,779 46,034 Unused lines of credit 466,271 418,596 Total commitments outstanding $ 554,557 $ 479,560 (1) Of the $66.8 million of loan commitments outstanding at December 31, 2016, $21.2 million are fixed rate commitments and $45.6 million are variable rate commitments. Of the $46.0 million of loan commitments outstanding at December 31, 2015, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments. Litigation The Company and its subsidiaries are subject to certain pending and threatened legal actions that arise out of the normal course of business. In the opinion of management, the resolution of any such pending or threatened litigation is not expected to have a material adverse effect on the Company’s consolidated financial statements. Other During 2016, the Bank was required to maintain certain cash balances with the Federal Reserve Bank of New York (“FRB”) for reserve and clearing requirements. The required cash balance at December 31, 2016 was $7.3 million. During 2016, the FRB offered higher interest rates on overnight deposits compared to the Bank’s correspondent banks. Therefore, the Bank invested overnight with the FRB and the average balance maintained during 2016 was $23.1 million. During 2016 and 2015, the Bank maintained an overnight line of credit with the 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, 2016, the Bank had aggregate lines of credit of $349.5 million with unaffiliated correspondent banks to provide short-term credit for liquidity requirements. Of these aggregate lines of credit, $329.5 million is available on an unsecured basis. As of December 31, 2016, the Bank had $100.0 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, 2016, there was up to $1.22 billion available for transactions under this agreement, assuming availability of required collateral.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2016
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. The following tables summarize assets and liabilities measured at fair value on a recurring basis: December 31, 2016 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Available for sale securities: U.S. GSE securities $ 63,649 $ 63,649 State and municipal obligations 116,165 116,165 U.S. GSE residential mortgage-backed securities 158,048 158,048 U.S. GSE residential collateralized mortgage obligations 367,511 367,511 U.S. GSE commercial mortgage-backed securities 6,307 6,307 U.S. GSE commercial collateralized mortgage obligations 55,192 55,192 Other asset backed securities 22,553 22,553 Corporate bonds 30,297 30,297 Total available for sale securities $ 819,722 $ 819,722 Derivatives $ 2,510 $ 2,510 Financial liabilities: Derivatives $ 1,670 $ 1,670 December 31, 2015 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 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 obligations 317,878 317,878 U.S. GSE commercial mortgage-backed securities 12,418 12,418 U.S. GSE commercial collateralized mortgage obligations 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 The following tables summarize assets measured at fair value on a non-recurring basis: December 31, 2016 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 64 $ 64 December 31, 2015 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 483 $ 483 Other real estate owned 250 250 Impaired loans with an allocated allowance for loan losses at December 31, 2016 had a carrying amount of $0.06 million, which is made up of the outstanding balance of $0.07 million, net of a valuation allowance of $0.01 million. This resulted in an additional provision for loan losses of $0.01 million that is included in the amount reported on the Consolidated Statements of Income. Impaired loans with an 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 Consolidated Statements of Income. There was no other real estate owned at December 31, 2016. Other real estate owned at December 31, 2015 had a carrying amount of $0.3 million and no valuation allowance recorded. 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 methods and assumptions in estimating the fair value of its financial instruments: Cash and Due from Banks and Federal Funds Sold: Securities Available for Sale and Held to Maturity: Restricted Securities: Derivatives: Loans: Impaired Loans and Other Real Estate Owned: 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 sale price of collateral that has been sold to the most recent appraised value to determine what additional adjustments should be made to appraisal values 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 consolidated financial statements given the level of impaired loans measured at fair value on a nonrecurring basis. Deposits: Borrowed Funds: Subordinated Debentures: Junior Subordinated Debentures: Accrued Interest Receivable and Payable: Off-Balance-Sheet Liabilities: Fair value estimates are made at specific points in time and are based on existing on-and off-balance sheet financial instruments. These estimates are subjective in nature and dependent on 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 following tables summarize the estimated fair values and recorded carrying amounts of the Company’s financial instruments at December 31, 2016 and 2015: December 31, 2016 Fair Value Measurement 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 Fair Value Financial assets: Cash and due from banks $ 102,280 $ 102,280 $ — $ — $ 102,280 Interest bearing deposits with banks 11,558 11,558 — — 11,558 Securities available for sale 819,722 — 819,722 — 819,722 Securities restricted 34,743 n/a n/a n/a n/a Securities held to maturity 223,237 — 222,878 — 222,878 Loans, net 2,574,536 — — 2,542,395 2,542,395 Derivatives 2,510 — 2,510 — 2,510 Accrued interest receivable 10,233 — 3,480 6,753 10,233 Financial liabilities: Certificates of deposit 206,732 — 206,026 — 206,026 Demand and other deposits 2,719,277 2,719,277 — — 2,719,277 Federal funds purchased 100,000 100,000 — — 100,000 Federal Home Loan Bank advances 496,684 175,000 321,249 — 496,249 Repurchase agreements 674 — 674 — 674 Subordinated debentures 78,502 — — 78,303 78,303 Junior subordinated debentures 15,244 — — 15,258 15,258 Derivatives 1,670 — 1,670 — 1,670 Accrued interest payable 1,849 87 316 1,446 1,849 December 31, 2015 Fair Value Measurement 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 Fair Value 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 — 298,015 — 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 93 329 1,222 1,644

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Dec. 31, 2016
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 Company and Bank are set forth in the tables that follow. The Company and the Bank met all capital adequacy requirements at December 31, 2016 and 2015. 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 on common equity tier 1 capital ("CET1"); b) 6.0% based on tier 1 capital; and c) 8.0% based on 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 on CET1; b) 8.5% based on tier 1 capital; and c) 10.5% based on 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, 2016, 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 tables below. Since that notification, there are no conditions or events that management believes have changed the institution’s category. The following tables present actual capital levels and minimum required levels for the Company and the Bank under Basel III rules at December 31, 2016 and 2015. December 31, 2016 Minimum To Be Well Minimum Capital Capitalized Under Prompt Actual Capital Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets: Consolidated $ 312,731 10.8 % $ 130,065 4.5 % n/a n/a Bank 378,352 13.1 130,054 4.5 $ 187,856 6.5 % Total capital to risk weighted assets: Consolidated 434,184 15.0 231,226 8.0 n/a n/a Bank 404,532 14.0 231,208 8.0 289,010 10.0 Tier 1 capital to risk weighted assets: Consolidated 328,004 11.3 173,419 6.0 n/a n/a Bank 378,352 13.1 173,406 6.0 231,208 8.0 Tier 1 capital to average assets: Consolidated 328,004 8.6 152,391 4.0 n/a n/a Bank 378,352 9.9 152,382 4.0 190,478 5.0 December 31, 2015 Minimum To Be Well Minimum Capital Capitalized Under Prompt Actual Capital 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 6.0 n/a n/a Bank 319,351 11.9 161,432 6.0 215,242 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

PARENT COMPANY ONLY CONDENSED F

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2016
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, (In thousands) 2016 2015 Assets: Cash and cash equivalents $ 29,049 $ 25,475 Other assets 228 16 Investment in the Bank 474,035 411,106 Total assets $ 503,312 $ 436,597 Liabilities and stockholders’ equity: Subordinated debentures $ 78,502 $ 78,363 Junior subordinated debentures 15,244 15,878 Other liabilities 1,579 1,228 Total liabilities 95,325 95,469 Total stockholders’ equity 407,987 341,128 Total liabilities and stockholders’ equity $ 503,312 $ 436,597 Condensed Statements of Income Year Ended December 31, (In thousands) 2016 2015 2014 Dividends from the Bank $ 14,800 $ 10,000 $ — Interest expense 5,903 2,626 1,365 Non-interest expense 260 73 86 Income (loss) before income taxes and equity in undistributed earnings of the Bank 8,637 7,301 (1,451 ) Income tax benefit (2,126 ) (933 ) (463 ) Income (loss) before equity in undistributed earnings of the Bank 10,763 8,234 (988 ) Equity in undistributed earnings of the Bank 24,728 12,877 14,751 Net income $ 35,491 $ 21,111 $ 13,763 Condensed Statements of Cash Flows Year Ended December 31, (In thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 35,491 $ 21,111 $ 13,763 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of the Bank (24,728 ) (12,877 ) (14,751 ) Amortization 152 44 5 (Increase) decrease in other assets (212 ) 72 76 Increase (decrease) in other liabilities 351 1,228 (48 ) Net cash provided by (used in) operating activities 11,054 9,578 (955 ) Cash flows from investing activities: Investment in the Bank (39,500 ) (50,000 ) (24,000 ) Cash in lieu of fractional shares for business acquisition — — (1 ) Net cash used in investing activities (39,500 ) (50,000 ) (24,001 ) 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 48,442 779 631 Net proceeds from exercise of stock options 62 80 7 Repurchase of surrendered stock from vesting of restricted stock awards (344 ) (228 ) (173 ) Excess tax benefit from share based compensation — 50 36 Cash dividends paid (16,140 ) (13,415 ) (10,657 ) Other, net — (303 ) (192 ) Net cash provided by (used in) financing activities 32,020 65,287 (11,798 ) Net increase (decrease) in cash and cash equivalents 3,574 24,865 (36,754 ) Cash and cash equivalents at beginning of year 25,475 610 37,364 Cash and cash equivalents at end of year $ 29,049 $ 25,475 $ 610

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2016
OTHER COMPREHENSIVE INCOME (LOSS)
OTHER COMPREHENSIVE INCOME (LOSS)	18. OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the components of other comprehensive (loss) income and related income tax effects: Year Ended December 31, (In thousands) 2016 2015 2014 Unrealized holding (losses) gains on available for sale securities $ (6,428 ) $ (2,489 ) $ 13,315 Reclassification adjustment for (gains) losses realized in income (449 ) 8 1,090 Income tax effect 2,795 1,047 (5,718 ) Net change in unrealized (losses) gains on available for sale securities (4,082 ) (1,434 ) 8,687 Unrealized net (loss) gain arising during the period (1,452 ) 196 (5,529 ) Reclassification adjustment for amortization realized in income 384 358 (23 ) Income tax effect 438 (174 ) 2,204 Net change in post-retirement obligation (630 ) 380 (3,348 ) Change in fair value of derivatives used for cash flow hedges 1,191 (1,008 ) (1,249 ) Reclassification adjustment for losses realized in income 944 657 470 Income tax effect (865 ) 150 309 Net change in unrealized gain (loss) on cash flow hedges 1,270 (201 ) (470 ) Other comprehensive (loss) income $ (3,442 ) $ (1,255 ) $ 4,869 The following is a summary of the accumulated other comprehensive loss balances, net of income tax at the dates indicated: (In thousands) December 31, 2015 Other Comprehensive (Loss) Income December 31, 2016 Unrealized losses on available for sale securities $ (4,741 ) $ (4,082 ) $ (8,823 ) Unrealized losses on pension benefits (4,111 ) (630 ) (4,741 ) Unrealized (losses) gains on cash flow hedges (770 ) 1,270 500 Accumulated other comprehensive loss $ (9,622 ) $ (3,442 ) $ (13,064 ) The following represents the reclassifications out of accumulated other comprehensive (loss) income: Year Ended December 31, Affected Line Item in the (In thousands) 2016 2015 2014 Consolidated Statements of Income Realized gains (losses) on sale of available for sale securities $ 449 $ (8 ) $ (1,090 ) Net securities gain (losses) Amortization of defined benefit pension plan and defined benefit plan component of the SERP: Prior service credit 77 77 77 Salaries and employee benefits Transition obligation (28 ) (27 ) (27 ) Salaries and employee benefits Actuarial losses (433 ) (408 ) (27 ) Salaries and employee benefits Realized losses on cash flow hedges (944 ) (657 ) (470 ) Interest expense Total reclassifications, before income tax $ (879 ) $ (1,023 ) $ (1,537 ) Income tax benefit 356 414 611 Income tax expense Total reclassifications, net of income tax $ (523 ) $ (609 ) $ (926 )

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
QUARTERLY FINANCIAL DATA (UNAUDITED)
QUARTERLY FINANCIAL DATA (UNAUDITED)	19. QUARTERLY FINANCIAL DATA (UNAUDITED) Selected Consolidated Quarterly Financial Data 2016 Quarter Ended (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Interest income $ 33,607 $ 34,733 $ 34,761 $ 34,615 Interest expense 4,175 4,143 4,077 4,450 Net interest income 29,432 30,590 30,684 30,165 Provision for loan losses 1,250 900 2,000 1,400 Net interest income after provision for loan losses 28,182 29,690 28,684 28,765 Non-interest income 3,995 4,269 4,034 3,748 Non-interest expense 18,907 (1) 20,441 19,204 18,529 (2) Income before income taxes 13,270 13,518 13,514 13,984 Income tax expense 4,644 4,664 4,663 4,824 Net income $ 8,626 $ 8,854 $ 8,851 $ 9,160 Basic earnings per share $ 0.49 $ 0.51 $ 0.50 $ 0.50 Diluted earnings per share $ 0.49 $ 0.50 $ 0.50 $ 0.50 2015 Quarter Ended (In thousands, except per share amounts) March 31, June 30, September 30, December 31, 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 expense 13,310 (3) 22,034 (4) 19,373 (5) 18,173 (6) 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 (1) 2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.3 million. (2) 2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.7 million. (3) 2015 amount includes costs associated with the CNB acquisition of $0.2 million. (4) 2015 amount includes costs associated with the CNB acquisition of $8.2 million. (5) 2015 amount includes costs associated with the CNB acquisition of $0.9 million. (6) 2015 amount includes costs associated with the CNB acquisition of $0.5 million.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
BUSINESS COMBINATIONS	20. BUSINESS COMBINATIONS On June 19, 2015, the Company acquired 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 $96.5 million, which is not deductible for tax purposes. 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 Long Island and the New York City boroughs 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 years ended December 31, 2016 and 2015 include the operating results of CNB since the acquisition date of June 19, 2015. The following table summarizes the finalized fair values of the assets acquired and liabilities assumed on June 19, 2015: Measurement As Initially Period (In thousands) Reported Adjustments (1) As Adjusted Cash and due from banks $ 24,628 $ - $ 24,628 Securities 90,109 - 90,109 Loans 736,348 (6,935 ) 729,413 Bank owned life insurance 21,445 - 21,445 Premises and equipment 6,398 (5,122 ) 1,276 Other intangible assets 6,698 - 6,698 Other assets 14,484 7,245 21,729 Total assets acquired $ 900,110 $ (4,812 ) $ 895,298 Deposits $ 786,853 $ - $ 786,853 Federal Home Loan Bank term advances 35,581 - 35,581 Other liabilities and accrued expenses 5,647 6,214 11,861 Total liabilities assumed $ 828,081 $ 6,214 $ 834,295 Net assets acquired 72,029 (11,026 ) 61,003 Consideration paid 157,503 - 157,503 Goodwill recorded on acquisition $ 85,474 $ 11,026 $ 96,500 (1) Explanation of measurement period adjustments: Loans Premises and equipment Other assets Other liabilities and accrued expenses

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
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. GAAP, 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, federal funds purchased, Federal Home Loan Bank (“FHLB”) 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, Federal Reserve Bank (“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 determining other-than-temporary impairment (“OTTI”), management considers many factors including: (1) the length of time and extent to which the 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 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 these criteria, the amount of impairment is split into two components: (1) OTTI related to credit loss, which must be recognized in the income statement and (2) OTTI 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 an other-than-temporary decline exists involves 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 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 an 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 troubled debt restructured loan performing in accordance with its modified terms is maintained on accrual status. 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 present 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 expected future cash flows using the loan’s effective interest 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 (“CNB”) on June 19, 2015 and First National Bank of New York (“FNBNY”) 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 the 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 management to evaluate the need for an addition to the allowance for loan losses. Purchased credit impaired loans that were nonaccrual prior to 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 established and maintained through a provision for loan losses based on probable incurred losses 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 regularly, 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 Financial Accounting Standards Board ("FASB") Accounting Standards 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 the Company’s 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 the Bank’s 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, owner and non-owner occupied; multi-family mortgage loans; home equity loans; residential real estate mortgages; commercial, industrial and agricultural loans, secured and unsecured; real estate construction and land loans; and consumer loans. Management considers a variety of factors in determining the adequacy of the valuation allowance and has developed a range of valuation allowances necessary to adequately provide for probable incurred losses in each pool of loans. Management considers the Bank’s 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, management 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, management evaluates and considers 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. 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. 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. 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 carried 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 the 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 non-compete intangibles arising from whole bank acquisitions. Core deposit intangibles are amortized on an accelerated method over their estimated useful lives of ten years. The non-compete intangible was fully amortized as of December 31, 2016. 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 $975,000 at December 31, 2016 and $893,000 at December 31, 2015.
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 (“OCI”) 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. When 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 in 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 ASU 740, Accounting for Uncertainty in Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. There are no such tax positions in the Company’s financial statements at December 31, 2016 and 2015. 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, 2016 and 2015.
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 (“EPS”) is calculated in accordance with FASB ASC 260-10, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities”. This ASC 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 EPS. Basic earnings per common share is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS, which reflects the potential dilution that could occur if outstanding stock options were exercised and if junior subordinated debentures were converted into common shares, is computed by dividing net income attributable to common shareholders including assumed conversions by the weighted average number of common shares and common equivalent shares outstanding during the period.
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, 2017 are limited to $37.6 million which represents the Bank’s net retained earnings from the previous two years. During 2016, the Bank paid dividends of $14.8 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, “Accounting for Stock-Based Compensation” which requires companies to record compensation cost for stock options, restricted stock awards and restricted stock units granted to employees in return for employee service. The cost is measured at the fair value of the options and awards when granted, and this cost is expensed over the employee service period, which is normally the vesting period of the options and awards.
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 plan. FASB ASC 715-30 “Compensation – Retirement Benefits – Defined Benefit Plans – Pension” requires employers to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year the changes occur through comprehensive income.
New Accounting Standards	t) New Accounting Standards In March 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016, with early adoption permitted. The Company adopted ASU 2016-09 in the first quarter of 2016. The adoption of ASU 2016-09 did not have a material impact on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments.” ASU 2015-16 eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. ASU 2015-16 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-16 resulted in a fixed asset measurement period adjustment of $0.3 million that was recorded in 2016 related to the recovery of depreciation expense recorded in 2015. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 provides guidance on the presentation and classification in the statement of cash flows of eight specific cash flow issues, including debt prepayment or debt extinguishment costs, proceeds from the settlement of insurance claims and proceeds from the settlement of BOLI policies, with the objective of reducing diversity in practice. For public entities, like the Company, ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. Since the provisions of ASU 2016-15 are disclosure related, adoption will not have an impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model and also provides for recording credit losses on available for sale debt securities through an allowance account. ASU 2016-13 also requires certain incremental disclosures. ASU 2016-13 is effective for public entities that are SEC filers, like the Company, for interim and annual reporting periods beginning after December 15, 2019. The Company is currently assessing its data and system needs and evaluating the impact of adopting ASU 2016-13, but can not yet determine the overall impact this guidance will have on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” ASU 2016-02 affects any entity that enters into a lease and is intended to increase the transparency and comparability of financial statements among organizations. ASU 2016-02 requires, among other changes, a lessee to recognize on its balance sheet a lease asset and a lease liability for those leases previously classified as operating leases. The lease asset would represent the right to use the underlying asset for the lease term and the lease liability would represent the discounted value of the required lease payments to the lessor. ASU 2016-02 would also require entities to disclose key information about leasing arrangements. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018. As of December 31, 2016, the Bank leases thirty five properties as branch locations and two properties as loan production offices. The adoption of ASU 2016-02 will result in an increase in the Company’s assets and liabilities. The Company is in the process of quantifying the impact ASU 2016-02 will have on the Company’s consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in ASU 2016-01 are intended to improve the recognition, measurement, presentation and disclosure of financial assets and liabilities to provide users of financial statements with information that is more useful for decision-making purposes. Among other changes, ASU 2016-01 would require equity securities to be measured at fair value with changes in fair value recognized through net income, but would allow equity securities that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments would simplify the impairment assessment of such equity securities and would require enhanced disclosure about these investments. ASU 2016-01 would also require separate presentation of financial assets and liabilities by measurement category and type of instrument, such as securities or loans, on the balance sheet or in the notes, and would eliminate certain other disclosures relating to the methods and assumptions used to estimate fair value. For public entities, like the Company, the amendments in ASU 2016-01 are effective for interim and annual reporting periods beginning after December 15, 2017. ASU 2016-01 is not expected to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The amendments in ASU 2014-09 are intended to improve financial reporting by providing a comprehensive framework for addressing revenue recognition issues that can be applied to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. While the guidance in ASU 2014-09 supersedes most existing industry-specific revenue recognition accounting guidance, much of a bank’s revenue comes from financial instruments such as debt securities and loans which are scoped-out of the guidance. The amendments also include improved disclosures to enable users of financial statements to better understand the nature, amount, timing and uncertainty of revenue that is recognized. For public entities, like the Company, ASU 2014-09, as amended, is effective for interim and annual reporting periods beginning after December 15, 2017. Most of the Company’s revenue comes from financial instruments, i.e. loans and securities, which are not within the scope of ASU 2014-09. The Company is in the process of evaluating the impact ASU 2014-09 will have on non-interest income but does not expect the adoption of the guidance to have a material impact on the Company’s consolidated financial statements.
Reclassifications	u ) Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year presentation.

SECURITIES (Tables)

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2016
SECURITIES
Summary of amortized cost and fair value of the available for sale and held to maturity	December 31, 2016 2015 ( In thousands Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available for sale: U.S. GSE securities $ 64,993 $ — $ (1,344 ) $ 63,649 $ 63,238 $ — $ (564 ) $ 62,674 State and municipal obligations 117,292 212 (1,339 ) 116,165 87,830 427 (322 ) 87,935 U.S. GSE residential mortgage-backed securities 160,446 16 (2,414 ) 158,048 201,297 237 (1,270 ) 200,264 U.S. GSE residential collateralized mortgage obligations 373,098 149 (5,736 ) 367,511 321,253 513 (3,888 ) 317,878 U.S. GSE commercial mortgage-backed securities 6,337 6 (36 ) 6,307 12,491 7 (80 ) 12,418 U.S. GSE commercial collateralized mortgage obligations 56,148 — (956 ) 55,192 64,809 9 (620 ) 64,198 Other asset backed securities 24,250 — (1,697 ) 22,553 24,250 — (1,879 ) 22,371 Corporate bonds 32,000 — (1,703 ) 30,297 33,000 — (535 ) 32,465 Total available for sale 834,564 383 (15,225 ) 819,722 808,168 1,193 (9,158 ) 800,203 Held to maturity: U.S. GSE securities — — — — 7,466 1 — 7,467 State and municipal obligations 66,666 1,085 (130 ) 67,621 64,878 1,715 (113 ) 66,480 U.S. GSE residential mortgage-backed securities 13,443 — (287 ) 13,156 7,609 — (106 ) 7,503 U.S. GSE residential collateralized mortgage obligations 61,639 352 (552 ) 61,439 60,933 617 (498 ) 61,052 U.S. GSE commercial mortgage-backed securities 28,772 136 (509 ) 28,399 23,056 210 (313 ) 22,953 U.S. GSE commercial collateralized mortgage obligations 41,717 93 (573 ) 41,237 33,409 282 (185 ) 33,506 Corporate bonds 11,000 26 — 11,026 11,000 42 — 11,042 Total held to maturity 223,237 1,692 (2,051 ) 222,878 208,351 2,867 (1,215 ) 210,003 Total securities $ 1,057,801 $ 2,075 $ (17,276 ) $ 1,042,600 $ 1,016,519 $ 4,060 $ (10,373 ) $ 1,010,206
Securities having a continuous unrealized loss position aggregated by a period of time less than or greater than 12 months	December 31, 2016 2015 Less than 12 months Greater than 12 months Less than 12 months Greater than 12 months Estimated Gross Estimated Gross Estimated Gross Estimated Gross Fair Unrealized Fair Unrealized Fair Unrealized Fair Unrealized ( In thousands Value Losses Value Losses Value Losses Value Losses Available for sale: U.S. GSE securities $ 63,649 $ (1,344 ) $ — $ — $ 37,759 $ (235 ) $ 24,914 $ (329 ) State and municipal obligations 78,883 (1,338 ) 240 (1 ) 39,621 (298 ) 5,118 (24 ) U.S. GSE residential mortgage-backed securities 140,514 (2,409 ) 241 (5 ) 136,025 (1,224 ) 1,510 (46 ) U.S. GSE residential collateralized mortgage obligations 319,197 (5,221 ) 15,627 (515 ) 187,543 (1,781 ) 66,830 (2,107 ) U.S. GSE commercial mortgage-backed securities 2,573 (36 ) — — 8,594 (80 ) — — U.S. GSE commercial collateralized mortgage obligations 48,901 (886 ) 6,292 (70 ) 51,178 (503 ) 10,034 (117 ) Other asset backed securities — — 22,552 (1,697 ) — — 22,371 (1,879 ) Corporate bonds 17,834 (1,166 ) 12,463 (537 ) 27,640 (360 ) 4,825 (175 ) Total available for sale 671,551 (12,400 ) 57,415 (2,825 ) 488,360 (4,481 ) 135,602 (4,677 ) Held to maturity: State and municipal obligations 21,867 (130 ) — — 18,375 (113 ) — — U.S. GSE residential mortgage-backed securities 13,156 (287 ) — — 7,503 (106 ) — — U.S. GSE residential collateralized mortgage obligations 31,297 (455 ) 3,873 (97 ) 15,918 (149 ) 15,679 (349 ) U.S. GSE commercial mortgage-backed securities 12,860 (286 ) 5,877 (223 ) 13,982 (313 ) — — U.S. GSE commercial collateralized mortgage obligations 22,666 (372 ) 3,790 (201 ) 7,912 (8 ) 3,813 (177 ) Corporate bonds — — — — — — — — Total held to maturity $ 101,846 $ (1,530 ) $ 13,540 $ (521 ) $ 63,690 $ (689 ) $ 19,492 $ (526 )
Summary of amortized cost, fair value and maturities of the available for sale and held to maturity investment securities portfolio	December 31, 2016 Within After One but After Five but After One Year Within Five Years Within Ten Years Ten Years Total Estimated Estimated Estimated Estimated Estimated Fair Amortized Fair Amortized Fair Amortized Fair Amortized Fair Amortized ( In thousands Value Cost Value Cost Value Cost Value Cost Value Cost Available for sale: U.S. GSE securities $ — $ — $ 26,593 $ 26,994 $ 37,056 $ 37,999 $ — $ — $ 63,649 $ 64,993 State and municipal obligations 14,635 14,638 50,964 51,473 42,921 43,461 7,645 7,720 116,165 117,292 U.S. GSE residential mortgage-backed securities — — — — 16,124 16,227 141,924 144,219 158,048 160,446 U.S. GSE residential collateralized mortgage obligations — — — — 9,263 9,361 358,248 363,737 367,511 373,098 U.S. GSE commercial mortgage-backed securities — — — — 6,307 6,337 — — 6,307 6,337 U.S. GSE commercial collateralized mortgage obligations — — — — — — 55,192 56,148 55,192 56,148 Other asset backed securities — — — — — — 22,553 24,250 22,553 24,250 Corporate bonds — — — — 30,297 32,000 — — 30,297 32,000 Total available for sale 14,635 14,638 77,557 78,467 141,968 145,385 585,562 596,074 819,722 834,564 Held to maturity: State and municipal obligations 9,631 9,635 16,982 16,818 39,133 38,361 1,875 1,852 67,621 66,666 U.S. GSE residential mortgage-backed securities — — — — 1,688 1,701 11,468 11,742 13,156 13,443 U.S. GSE residential collateralized mortgage obligations — — — — 7,389 7,394 54,050 54,245 61,439 61,639 U.S. GSE commercial mortgage-backed securities — — 5,016 5,063 14,568 14,621 8,815 9,088 28,399 28,772 U.S. GSE commercial collateralized mortgage obligations — — — — 4,930 5,129 36,307 36,588 41,237 41,717 Corporate bonds 11,026 11,000 — — — — — — 11,026 11,000 Total held to maturity 20,657 20,635 21,998 21,881 67,708 67,206 112,515 113,515 222,878 223,237 Total securities $ 35,292 $ 35,273 $ 99,555 $ 100,348 $ 209,676 $ 212,591 $ 698,077 $ 709,589 $ 1,042,600 $ 1,057,801

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2016
LOANS
Schedule of the major classifications of loans	December 31, ( In thousands 2016 2015 Commercial real estate mortgage loans $ 1,016,983 $ 999,474 Multi-family mortgage loans 518,146 350,793 Residential real estate mortgage loans 439,653 446,740 Commercial, industrial and agricultural loans 524,450 501,766 Real estate construction and land loans 80,605 91,153 Installment/consumer loans 16,368 17,596 Total loans 2,596,205 2,407,522 Net deferred loan costs and fees 4,235 3,252 Total loans held for investment 2,600,440 2,410,774 Allowance for loan losses (25,904 ) (20,744 ) Net loans $ 2,574,536 $ 2,390,030
Schedule of changes in the allowance for loan losses	Year Ended December 31, 2016 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Beginning balance $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Charge-offs — — (56 ) (930 ) — (1 ) (987 ) Recoveries 109 — 96 386 — 6 597 Provision 800 2,056 (194 ) 2,976 (75 ) (13 ) 5,550 Ending balance $ 8,759 $ 6,264 $ 1,961 $ 7,837 $ 955 $ 128 $ 25,904 Year Ended December 31, 2015 (In thousands) Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total 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 Year Ended December 31, 2014 (In thousands) Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total 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
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method	December 31, 2016 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ 1 $ — $ — $ 1 Collectively evaluated for impairment 8,759 6,264 1,961 7,836 955 128 25,903 Loans acquired with deteriorated credit quality — — — — — — — Total allowance for loan losses $ 8,759 $ 6,264 $ 1,961 $ 7,837 $ 955 $ 128 $ 25,904 Loans: Individually evaluated for impairment $ 1,539 $ — $ 784 $ 1,030 $ — $ — $ 3,353 Collectively evaluated for impairment 1,013,563 514,853 437,999 519,686 80,605 16,368 2,583,074 Loans acquired with deteriorated credit quality 1,881 3,293 870 3,734 — — 9,778 Total loans $ 1,016,983 $ 518,146 $ 439,653 $ 524,450 $ 80,605 $ 16,368 $ 2,596,205 December 31, 2015 ( In thousands Commercial Real Estate Mortgage Loans Multi-family Loans Residential Real Estate Mortgage Loans Commercial, Industrial and Agricultural Loans Real Estate Construction and Land Loans Installment/ Consumer Loans Total Allowance for loan losses: Individually evaluated for impairment $ 20 $ — $ — $ 9 $ — $ — $ 29 Collectively evaluated for impairment 7,830 4,208 2,115 5,396 1,030 136 20,715 Loans acquired with deteriorated credit quality — — — — — — — Total allowance for loan losses $ 7,850 $ 4,208 $ 2,115 $ 5,405 $ 1,030 $ 136 $ 20,744 Loans: Individually evaluated for impairment $ 1,629 $ — $ 672 $ 290 $ — $ — $ 2,591 Collectively evaluated for impairment 992,137 347,054 444,801 495,074 91,153 17,596 2,387,815 Loans acquired with deteriorated credit quality 5,708 3,739 1,267 6,402 — — 17,116 Total loans $ 999,474 $ 350,793 $ 446,740 $ 501,766 $ 91,153 $ 17,596 $ 2,407,522
Schedule of loans by class categorized by internally assigned credit risk grades	December 31, 2016 (In thousands) Pass Special Mention Substandard Doubtful Total Commercial real estate: Owner occupied $ 404,584 $ 18,909 $ 722 $ — $ 424,215 Non-owner occupied 569,870 20,035 2,863 — 592,768 Multi-family 518,146 — — — 518,146 Residential real estate: Residential mortgage 372,853 82 1,583 — 374,518 Home equity 64,195 563 377 — 65,135 Commercial and industrial: Secured 75,837 31,143 2,254 — 109,234 Unsecured 409,879 2,493 2,844 — 415,216 Real estate construction and land loans 80,272 — 333 — 80,605 Installment/consumer loans 16,268 — 100 — 16,368 Total loans $ 2,511,904 $ 73,225 $ 11,076 $ — $ 2,596,205 December 31, 2015 (In thousands) Pass Special Mention Substandard Doubtful Total Commercial real estate: Owner occupied $ 465,967 $ 3,239 $ 2,115 $ — $ 471,321 Non-owner occupied 519,124 542 8,487 — 528,153 Multi-family 350,785 — 8 — 350,793 Residential real estate: Residential mortgage 377,482 87 845 — 378,414 Home equity 66,910 523 893 — 68,326 Commercial and industrial: 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
Schedule of the aging of the recorded investment in past due loans by class of loans	December 31, 2016 (In thousands) 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 Commercial real estate: Owner occupied $ 222 $ — $ 467 $ 184 $ 873 $ 423,342 $ 424,215 Non-owner occupied — — — — — 592,768 592,768 Multi-family — — — — — 518,146 518,146 Residential real estate: Residential mortgages 1,232 — — 770 2,002 372,516 374,518 Home equity 532 — 238 265 1,035 64,100 65,135 Commercial and industrial: Secured 27 — 204 — 231 109,003 109,234 Unsecured 115 — 118 22 255 414,961 415,216 Real estate construction and land loans — — — — — 80,605 80,605 Installment/consumer loans 28 — — — 28 16,340 16,368 Total loans $ 2,156 $ — $ 1,027 $ 1,241 $ 4,424 $ 2,591,781 $ 2,596,205 December 31, 2015 (In thousands) 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 Commercial real estate: Owner occupied $ — $ — $ 435 $ 631 $ 1,066 $ 470,255 $ 471,321 Non-owner occupied — — — — — 528,153 528,153 Multi-family — — — — — 350,793 350,793 Residential real estate: Residential mortgages 939 245 — 62 1,246 377,168 378,414 Home equity 69 100 188 610 967 67,359 68,326 Commercial and industrial: 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
Schedule of individually impaired loans by class	December 31, 2016 Year Ended December 31, 2016 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial real estate: Owner occupied $ 326 $ 538 $ — $ 176 $ 10 Non-owner occupied 1,213 1,213 — 614 75 Residential real estate: Residential mortgages 520 558 — 276 — Home equity 264 285 — 328 — Commercial and industrial: Secured 556 556 — 274 12 Unsecured 408 408 — 227 19 Total with no related allowance recorded 3,287 3,558 — 1,895 116 With an allowance recorded: Commercial real estate: Owner occupied — — — — — Non-owner occupied — — — — — Residential real estate: Residential mortgages — — — — — Home equity — — — — — Commercial and industrial: Secured — — — — — Unsecured 66 66 1 43 7 Total with an allowance recorded 66 66 1 43 7 Total: Commercial real estate: Owner occupied 326 538 — 176 10 Non-owner occupied 1,213 1,213 — 614 75 Residential real estate: Residential mortgages 520 558 — 276 — Home equity 264 285 — 328 — Commercial and industrial: Secured 556 556 — 274 12 Unsecured 474 474 1 270 26 Total $ 3,353 $ 3,624 $ 1 $ 1,938 $ 123 December 31, 2015 Year Ended December 31, 2015 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Recognized 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 and industrial: 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 — — — — — Non-owner occupied 318 318 20 320 15 Residential real estate: Residential mortgages — — — — — Home equity — — — — — Commercial and industrial: Secured — — — — — 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 and industrial: Secured 96 96 — 93 6 Unsecured 194 194 9 223 17 Total $ 2,591 $ 2,873 $ 29 $ 2,683 $ 110 December 31, 2014 Year Ended December 31, 2014 (In thousands) Recorded Investment Unpaid Principal Balance Related Allocated Allowance Average Recorded Investment Interest Income Recognized 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 and industrial: 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 — — — — — Non-owner occupied 323 323 23 27 — Residential real estate: Residential mortgages — — — — — Home equity 71 89 72 75 13 Commercial and industrial: Secured — — — — — 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 and industrial: Secured 345 345 — 354 25 Unsecured 337 339 79 206 — Total $ 6,201 $ 6,979 $ 174 $ 6,025 $ 214
Schedule of loans receivable by class modified as troubled debt restructuring	Modifications During the Years Ended December 31, 2016 2015 2014 ( Dollars in thousands) Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Number of Loans Pre- Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment Commercial real estate: Owner occupied — $ — $ — — $ — $ — — $ — $ — Non-owner occupied — — — — — — 1 323 323 Residential real estate: Residential mortgages 1 252 252 — — — — — — Home equity 1 69 69 — — — 1 127 127 Commercial and industrial: Secured 3 459 459 — — — — — — Unsecured 1 525 525 3 160 160 1 127 127 Installment/consumer loans — — — — — — 1 5 5 Total 6 $ 1,305 $ 1,305 3 $ 160 $ 160 4 $ 582 $ 582
Summary of activity in the accretable yield for the purchased credit impaired loans	Year Ended December 31, (In thousands) 2016 2015 Balance at beginning of period $ 7,113 $ 8,432 Accretable discount arising from acquisition of PCI loans — 259 Accretion (4,924 ) (3,570 ) Reclassification from nonaccretable difference during the period 4,492 1,992 Other 234 — Accretable discount at end of period $ 6,915 $ 7,113
Schedule of selected information about related party loans	(In thousands) Balance Outstanding Balance at January 1, 2016 $ 22,789 New loans 1,901 Repayments (2,574 ) Balance at December 31, 2016 $ 22,116

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
PREMISES AND EQUIPMENT
Schedule of components of premises and equipment	(In thousands) 2016 2015 Land $ 7,951 $ 7,381 Building and improvements 15,272 14,839 Furniture, fixtures and equipment 20,295 22,292 Leasehold improvements 13,562 17,887 57,080 62,399 Accumulated depreciation and amortization (21,817 ) (22,804 ) Total $ 35,263 $ 39,595

GOODWILL AND OTHER INTANGIBLE33

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	(In thousands) 2016 2015 Balance at January 1 $ 98,445 $ 9,450 Acquired goodwill — 88,995 Measurement period adjustments (1) 7,505 — Impairment — — Balance at December 31 $ 105,950 $ 98,445
Schedule of acquired intangible assets	December 31, 2016 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized intangible assets: Core deposit intangibles $ 7,211 $ 2,362 $ 7,211 $ 1,186 Non-compete intangible — — 2,188 730 Total $ 7,211 $ 2,362 $ 9,399 $ 1,916
Schedule of estimated amortization expense	(In thousands) Total 2017 $ 1,047 2018 917 2019 787 2020 656 2021 531 Thereafter 911 Total $ 4,849

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2016
DEPOSITS
Schedule of the remaining maturities of the Bank's time deposits	(In thousands) Total 2017 $ 98,272 2018 38,660 2019 20,317 2020 5,724 2021 43,388 Thereafter 371 Total $ 206,732

SECURITIES SOLD UNDER AGREEME35

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)	12 Months Ended
	Dec. 31, 2016
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Schedule of summary of information concerning the securities sold under agreements to repurchase	Year Ended December 31, (Dollars in thousands) 2016 2015 Average daily balance during the year $ 45,630 $ 30,317 Average interest rate during the year 0.85 % 0.65 % Maximum month-end balance during the year $ 51,197 $ 51,400 Weighted average interest rate at year-end 0.83 % 0.64 %

FEDERAL HOME LOAN BANK ADVANC36

FEDERAL HOME LOAN BANK ADVANCES (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of contractual maturities and weighted average interest rates of FHLB advances	(Dollars in thousands) December 31, 2016 Contractual Maturity Amount Weighted Average Rate Overnight $ 175,000 0.74 % 2017 294,113 0.82 % 2018 25,431 1.05 2019 2,140 1.04 321,684 0.84 % Total FHLB advances $ 496,684 0.80 % (Dollars in thousands) December 31, 2015 Contractual Maturity Amount Weighted Average Rate 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 % Total FHLB advances $ 297,507 0.78 %

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2016
DERIVATIVES
Summary of information about the interest rate swap designated as a cash flow hedge	December 31, (Dollars in thousands) 2016 2015 Notional amounts $ 175,000 $ 125,000 Weighted average pay rates 1.61 % 1.58 % Weighted average receive rates 0.95 % 0.51 % Weighted average maturity 2.98 years 3.22 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	(In thousands) Interest rate contracts Amount of gain (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) Year ended December 31, 2016 $ 1,191 $ (944 ) $ — Year ended December 31, 2015 $ (1,008 ) $ (657 ) $ — Year ended December 31, 2014 $ (1,249 ) $ (470 ) $ —
Schedule of cash flow hedge included in the Consolidated Balance Sheets	December 31, 2016 2015 Fair Fair Fair Fair (In thousands) Notional Value Value Notional Value Value Included in other assets/(liabilities): Amount Asset Liability Amount Asset Liability Interest rate swaps related to FHLB advances $ 175,000 $ 1,994 $ (1,153 ) $ 100,000 $ 14 $ (713 ) Forward starting interest rate swap related to FHLB advances — — — 25,000 — (595 )
Summary of information about interest rate swaps	December 31, (Dollars in thousands) 2016 2015 Notional amounts $ 62,472 $ 56,328 Weighted average pay rates 3.50 % 3.39 % Weighted average receive rates 3.50 % 3.39 % Weighted average maturity 13.97 years 15.59 years Fair value of combined interest rate swaps $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
INCOME TAXES
Schedule of components of income tax expense	Year Ended December 31, (In thousands) 2016 2015 2014 Current: Federal $ 14,730 $ 8,248 $ 3,926 State 780 1,230 507 Total current 15,510 9,478 4,433 Deferred: Federal 2,388 1,457 2,187 State 897 (157 ) 619 Total deferred 3,285 1,300 2,806 Total income tax expense $ 18,795 $ 10,778 $ 7,239
Schedule of reconciliation of the expected Federal income tax expense at the statutory tax rate to the actual provision	Year Ended December 31, 2016 2015 2014 (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 $ 19,000 35 % $ 11,161 35 % $ 7,141 34 % Tax exempt interest (986 ) (2 ) (927 ) (3 ) (665 ) (3 ) State taxes, net of federal income tax benefit 1,090 2 1,087 3 743 4 Other (309 ) — (543 ) (1 ) 20 — Income tax expense $ 18,795 35 % $ 10,778 34 % $ 7,239 35 %
Schedule of components of deferred tax assets and liabilities	December 31, (In thousands) 2016 2015 Deferred tax assets: Allowance for loan losses and off-balance sheet credit exposure $ 11,401 $ 9,154 Net unrealized losses on securities 6,019 3,224 Compensation and related benefit obligations 2,226 1,435 Purchase accounting fair value adjustments 14,376 15,942 Net change in pension and other post-retirement benefits plans 3,249 2,811 Net operating loss carryforward 2,470 1,955 Net loss on cash flow hedges - 524 Other 756 672 Total deferred tax assets 40,497 35,717 Deferred tax liabilities: Pension and SERP expense (4,715 ) (4,142 ) Depreciation (1,537 ) (1,828 ) REIT undistributed net income (86 ) (482 ) Net deferred loan costs and fees (1,844 ) (1,416 ) Net gain on cash flow hedges (341 ) - State and local taxes (1,862 ) (1,541 ) Other (179 ) - Total deferred tax liabilities (10,564 ) (9,409 ) Net deferred tax asset $ 29,933 $ 26,308

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2016
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 Year Ended December 31, Year Ended December 31, (In thousands) 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at beginning of year $ 18,515 $ 18,960 $ 2,555 $ 2,457 Service cost 1,153 1,134 176 168 Interest cost 794 706 105 91 Benefits paid and expected expenses (279 ) (264 ) (112 ) (112 ) Assumption changes and other 661 (2,021 ) 280 (49 ) Benefit obligation at end of year $ 20,844 $ 18,515 $ 3,004 $ 2,555 Change in plan assets: Fair value of plan assets at beginning of year $ 24,562 $ 23,887 $ — $ — Actual return on plan assets 1,416 (60 ) — — Employer contribution 2,215 999 112 112 Benefits paid and actual expenses (279 ) (264 ) (112 ) (112 ) Fair value of plan assets at end of year $ 27,914 $ 24,562 $ — $ — Funded status at end of year $ 7,070 $ 6,047 $ (3,004 ) $ (2,555 )
Schedule of amounts recognized in accumulated other comprehensive income	Pension Benefits SERP Benefits December 31, December 31, (In thousands) 2016 2015 2016 2015 Net actuarial loss $ 7,874 $ 7,108 $ 800 $ 546 Prior service cost (715 ) (792 ) — — Transition obligation — — 32 60 Net amount recognized $ 7,159 $ 6,316 $ 832 $ 606
Schedule net periodic benefit cost and other amounts recognized in other comprehensive income	Pension Benefits SERP Benefits Year Ended December 31, Year Ended December 31, (In thousands) 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost and other amounts recognized in other comprehensive income: Service cost $ 1,153 $ 1,134 $ 905 $ 176 $ 168 $ 132 Interest cost 794 706 639 105 91 88 Expected return on plan assets (1,927 ) (1,838 ) (1,625 ) — — — Amortization of net loss 406 376 27 27 32 — Amortization of prior service credit (77 ) (77 ) (77 ) — — — Amortization of transition obligation — — — 28 28 28 Net periodic benefit cost (credit) $ 349 $ 301 $ (131 ) $ 336 $ 319 $ 248 Net loss (gain) $ 1,172 $ (123 ) $ 5,099 $ 280 $ (48 ) $ 430 Amortization of net loss (406 ) (376 ) (27 ) (27 ) (32 ) — Amortization of prior service credit 77 77 77 — — — Amortization of transition obligation — — — (28 ) (27 ) (27 ) Total recognized in other comprehensive income $ 843 $ (422 ) $ 5,149 $ 225 $ (107 ) $ 403
Schedule of average assumptions used to determine benefit obligations and net periodic benefit cost	Pension Benefits SERP Benefits December 31, December 31, 2016 2015 2014 2016 2015 2014 Weighted average assumptions used to determine benefit obligations: Discount rate 4.05 % 4.30 % 3.90 % 4.01 % 4.20 % 3.80 % 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 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 Expected long-term rate of return 7.50 7.50 7.50 — — —
Schedule of target allocations for Plan assets	Target Allocation Percentage of Plan Assets At December 31, Weighted-Average Expected Long- term Rate of Asset Category 2017 2016 2015 Return Cash Equivalents 0 – 5 % 3.0 % 4.6 % — Equity Securities 45 - 65 % 64.0 % 62.2 % 10.0 % Fixed income securities 35 - 55 % 33.0 % 33.2 % 5.0 % Total 100.0 % 100.0 %
Schedule of the Plan's fair value hierarchy for its financial assets measured at fair value on a recurring basis	December 31, 2016: Fair Value Measurements Using: (Dollars in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents: Cash $ — $ — $ — Short term investment funds 822 — 822 Total cash and cash equivalents 822 — 822 Equities: U.S. large cap 8,950 8,950 — U.S. mid cap/small cap 3,038 3,038 — International 5,770 5,770 — Equities blend 124 124 — Total equities 17,882 17,882 — Fixed income securities: Government issues 1,948 1,706 242 Corporate bonds 1,795 — 1,795 Mortgage backed 960 — 960 High yield bonds and bond funds 4,507 — 4,507 Total fixed income securities 9,210 1,706 7,504 Total plan assets $ 27,914 $ 19,588 $ 8,326 December 31, 2015 Fair Value Measurements Using: (Dollars in thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents: Cash $ 1,129 $ 1,129 $ — Short term investment funds 21 — 21 Total cash and 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
Summary of payments, which reflect expected future service, expected to be paid	Pension and SERP Payments Year (in thousands) 2017 $ 574 2018 677 2019 740 2020 908 2021 1,005 2022-2026 6,476
Summary of status of stock options	(Dollars in thousands, except per share amounts) Number of Options Weighted Average Exercise Price Outstanding, January 1, 2016 23,725 $ 25.25 Exercised (23,725 ) $ 25.25 Outstanding, December 31, 2016 —
Schedule of summary of activity related to the stock options	Year Ended December 31, (In thousands) 2016 2015 2014 Intrinsic value of options exercised $ 115 $ 52 $ 4 Cash received from options exercised 62 80 4 Tax benefit realized from option exercised — — —
Schedule of unvested restricted stock	Shares Weighted Average Grant-Date Fair Value Unvested, January 1, 2016 281,076 $ 23.46 Granted 69,309 $ 27.99 Vested (41,727 ) $ 22.42 Forfeited (6,667 ) $ 25.95 Unvested, December 31, 2016 301,991 $ 24.59

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2016
EARNINGS PER SHARE
Schedule of computation of EPS	Year Ended December 31, (In thousands, except per share data) 2016 2015 2014 Net income $ 35,491 $ 21,111 $ 13,763 Dividends paid on and earnings allocated to participating securities (732 ) (451 ) (319 ) Income attributable to common stock $ 34,759 $ 20,660 $ 13,444 Weighted average common shares outstanding, including participating securities 17,670 14,792 11,633 Weighted average participating securities (366 ) (319 ) (278 ) Weighted average common shares outstanding 17,304 14,473 11,355 Basic earnings per common share $ 2.01 $ 1.43 $ 1.18 Income attributable to common stock $ 34,759 $ 20,660 $ 13,444 Impact of assumed conversions - interest on 8.5% trust preferred securities 878 — — Income attributable to common stock including assumed conversions $ 35,637 $ 20,660 $ 13,444 Weighted average common shares outstanding 17,304 14,473 11,355 Incremental shares from assumed conversions of options and restricted stock units 13 4 — Incremental shares from assumed conversions of 8.5% trust preferred securities 534 — — Weighted average common and equivalent shares outstanding 17,851 14,477 11,355 Diluted earnings per common share $ 2.00 $ 1.43 $ 1.18

COMMITMENTS AND CONTINGENCIES41

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Tables)	12 Months Ended
	Dec. 31, 2016
COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS
Schedule of projected minimum rentals under existing operating leases	Amount Year (In thousands) 2017 $ 7,201 2018 6,336 2019 5,853 2020 5,231 2021 4,795 Thereafter 20,285 Total $ 49,701
Schedule of commitments outstanding	December 31, (In thousands) 2016 2015 Standby letters of credit $ 21,507 $ 14,930 Loan commitments outstanding (1) 66,779 46,034 Unused lines of credit 466,271 418,596 Total commitments outstanding $ 554,557 $ 479,560 (1) Of the $66.8 million of loan commitments outstanding at December 31, 2016, $21.2 million are fixed rate commitments and $45.6 million are variable rate commitments. Of the $46.0 million of loan commitments outstanding at December 31, 2015, $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, 2016
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of assets and liabilities measured on a recurring basis	December 31, 2016 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Available for sale securities: U.S. GSE securities $ 63,649 $ 63,649 State and municipal obligations 116,165 116,165 U.S. GSE residential mortgage-backed securities 158,048 158,048 U.S. GSE residential collateralized mortgage obligations 367,511 367,511 U.S. GSE commercial mortgage-backed securities 6,307 6,307 U.S. GSE commercial collateralized mortgage obligations 55,192 55,192 Other asset backed securities 22,553 22,553 Corporate bonds 30,297 30,297 Total available for sale securities $ 819,722 $ 819,722 Derivatives $ 2,510 $ 2,510 Financial liabilities: Derivatives $ 1,670 $ 1,670 December 31, 2015 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) 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 obligations 317,878 317,878 U.S. GSE commercial mortgage-backed securities 12,418 12,418 U.S. GSE commercial collateralized mortgage obligations 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
Schedule of assets measured at fair value on a non-recurring basis	December 31, 2016 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 64 $ 64 December 31, 2015 Fair Value Measurements Using: (In thousands) Carrying Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 483 $ 483 Other real estate owned 250 250
Schedule of estimated fair values and recorded carrying values of financial instruments	December 31, 2016 Fair Value Measurement 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 Fair Value Financial assets: Cash and due from banks $ 102,280 $ 102,280 $ — $ — $ 102,280 Interest bearing deposits with banks 11,558 11,558 — — 11,558 Securities available for sale 819,722 — 819,722 — 819,722 Securities restricted 34,743 n/a n/a n/a n/a Securities held to maturity 223,237 — 222,878 — 222,878 Loans, net 2,574,536 — — 2,542,395 2,542,395 Derivatives 2,510 — 2,510 — 2,510 Accrued interest receivable 10,233 — 3,480 6,753 10,233 Financial liabilities: Certificates of deposit 206,732 — 206,026 — 206,026 Demand and other deposits 2,719,277 2,719,277 — — 2,719,277 Federal funds purchased 100,000 100,000 — — 100,000 Federal Home Loan Bank advances 496,684 175,000 321,249 — 496,249 Repurchase agreements 674 — 674 — 674 Subordinated debentures 78,502 — — 78,303 78,303 Junior subordinated debentures 15,244 — — 15,258 15,258 Derivatives 1,670 — 1,670 — 1,670 Accrued interest payable 1,849 87 316 1,446 1,849 December 31, 2015 Fair Value Measurement 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 Fair Value 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 — 298,015 — 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 93 329 1,222 1,644

REGULATORY CAPITAL REQUIREMEN43

REGULATORY CAPITAL REQUIREMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
REGULATORY CAPITAL REQUIREMENTS
Schedule of the Company's and Bank's actual capital amounts and ratios	December 31, 2016 Minimum To Be Well Minimum Capital Capitalized Under Prompt Actual Capital Adequacy Requirement Corrective Action Provisions (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets: Consolidated $ 312,731 10.8 % $ 130,065 4.5 % n/a n/a Bank 378,352 13.1 130,054 4.5 $ 187,856 6.5 % Total capital to risk weighted assets: Consolidated 434,184 15.0 231,226 8.0 n/a n/a Bank 404,532 14.0 231,208 8.0 289,010 10.0 Tier 1 capital to risk weighted assets: Consolidated 328,004 11.3 173,419 6.0 n/a n/a Bank 378,352 13.1 173,406 6.0 231,208 8.0 Tier 1 capital to average assets: Consolidated 328,004 8.6 152,391 4.0 n/a n/a Bank 378,352 9.9 152,382 4.0 190,478 5.0 December 31, 2015 Minimum To Be Well Minimum Capital Capitalized Under Prompt Actual Capital 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 6.0 n/a n/a Bank 319,351 11.9 161,432 6.0 215,242 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

PARENT COMPANY ONLY CONDENSED44

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
Schedule of condensed balance sheets	Condensed Balance Sheets December 31, (In thousands) 2016 2015 Assets: Cash and cash equivalents $ 29,049 $ 25,475 Other assets 228 16 Investment in the Bank 474,035 411,106 Total assets $ 503,312 $ 436,597 Liabilities and stockholders’ equity: Subordinated debentures $ 78,502 $ 78,363 Junior subordinated debentures 15,244 15,878 Other liabilities 1,579 1,228 Total liabilities 95,325 95,469 Total stockholders’ equity 407,987 341,128 Total liabilities and stockholders’ equity $ 503,312 $ 436,597
Schedule of condensed statements of income	Condensed Statements of Income Year Ended December 31, (In thousands) 2016 2015 2014 Dividends from the Bank $ 14,800 $ 10,000 $ — Interest expense 5,903 2,626 1,365 Non-interest expense 260 73 86 Income (loss) before income taxes and equity in undistributed earnings of the Bank 8,637 7,301 (1,451 ) Income tax benefit (2,126 ) (933 ) (463 ) Income (loss) before equity in undistributed earnings of the Bank 10,763 8,234 (988 ) Equity in undistributed earnings of the Bank 24,728 12,877 14,751 Net income $ 35,491 $ 21,111 $ 13,763
Schedule of condensed statements of cash flows	Condensed Statements of Cash Flows Year Ended December 31, (In thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 35,491 $ 21,111 $ 13,763 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Equity in undistributed earnings of the Bank (24,728 ) (12,877 ) (14,751 ) Amortization 152 44 5 (Increase) decrease in other assets (212 ) 72 76 Increase (decrease) in other liabilities 351 1,228 (48 ) Net cash provided by (used in) operating activities 11,054 9,578 (955 ) Cash flows from investing activities: Investment in the Bank (39,500 ) (50,000 ) (24,000 ) Cash in lieu of fractional shares for business acquisition — — (1 ) Net cash used in investing activities (39,500 ) (50,000 ) (24,001 ) 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 48,442 779 631 Net proceeds from exercise of stock options 62 80 7 Repurchase of surrendered stock from vesting of restricted stock awards (344 ) (228 ) (173 ) Excess tax benefit from share based compensation — 50 36 Cash dividends paid (16,140 ) (13,415 ) (10,657 ) Other, net — (303 ) (192 ) Net cash provided by (used in) financing activities 32,020 65,287 (11,798 ) Net increase (decrease) in cash and cash equivalents 3,574 24,865 (36,754 ) Cash and cash equivalents at beginning of year 25,475 610 37,364 Cash and cash equivalents at end of year $ 29,049 $ 25,475 $ 610

OTHER COMPREHENSIVE INCOME (L45

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2016
OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of other comprehensive income (loss) components and related income tax effects	Year Ended December 31, (In thousands) 2016 2015 2014 Unrealized holding (losses) gains on available for sale securities $ (6,428 ) $ (2,489 ) $ 13,315 Reclassification adjustment for (gains) losses realized in income (449 ) 8 1,090 Income tax effect 2,795 1,047 (5,718 ) Net change in unrealized (losses) gains on available for sale securities (4,082 ) (1,434 ) 8,687 Unrealized net (loss) gain arising during the period (1,452 ) 196 (5,529 ) Reclassification adjustment for amortization realized in income 384 358 (23 ) Income tax effect 438 (174 ) 2,204 Net change in post-retirement obligation (630 ) 380 (3,348 ) Change in fair value of derivatives used for cash flow hedges 1,191 (1,008 ) (1,249 ) Reclassification adjustment for losses realized in income 944 657 470 Income tax effect (865 ) 150 309 Net change in unrealized gain (loss) on cash flow hedges 1,270 (201 ) (470 ) Other comprehensive (loss) income $ (3,442 ) $ (1,255 ) $ 4,869
Schedule of the accumulated other comprehensive income balances, net of income tax	(In thousands) December 31, 2015 Other Comprehensive (Loss) Income December 31, 2016 Unrealized losses on available for sale securities $ (4,741 ) $ (4,082 ) $ (8,823 ) Unrealized losses on pension benefits (4,111 ) (630 ) (4,741 ) Unrealized (losses) gains on cash flow hedges (770 ) 1,270 500 Accumulated other comprehensive loss $ (9,622 ) $ (3,442 ) $ (13,064 )
Schedule of reclassifications out of accumulated other comprehensive income	Year Ended December 31, Affected Line Item in the (In thousands) 2016 2015 2014 Consolidated Statements of Income Realized gains (losses) on sale of available for sale securities $ 449 $ (8 ) $ (1,090 ) Net securities gain (losses) Amortization of defined benefit pension plan and defined benefit plan component of the SERP: Prior service credit 77 77 77 Salaries and employee benefits Transition obligation (28 ) (27 ) (27 ) Salaries and employee benefits Actuarial losses (433 ) (408 ) (27 ) Salaries and employee benefits Realized losses on cash flow hedges (944 ) (657 ) (470 ) Interest expense Total reclassifications, before income tax $ (879 ) $ (1,023 ) $ (1,537 ) Income tax benefit 356 414 611 Income tax expense Total reclassifications, net of income tax $ (523 ) $ (609 ) $ (926 )

QUARTERLY FINANCIAL DATA (UNA46

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
QUARTERLY FINANCIAL DATA (UNAUDITED)
Summary of Selected Consolidated Quarterly Financial Data	2016 Quarter Ended (In thousands, except per share amounts) March 31, June 30, September 30, December 31, Interest income $ 33,607 $ 34,733 $ 34,761 $ 34,615 Interest expense 4,175 4,143 4,077 4,450 Net interest income 29,432 30,590 30,684 30,165 Provision for loan losses 1,250 900 2,000 1,400 Net interest income after provision for loan losses 28,182 29,690 28,684 28,765 Non-interest income 3,995 4,269 4,034 3,748 Non-interest expense 18,907 (1) 20,441 19,204 18,529 (2) Income before income taxes 13,270 13,518 13,514 13,984 Income tax expense 4,644 4,664 4,663 4,824 Net income $ 8,626 $ 8,854 $ 8,851 $ 9,160 Basic earnings per share $ 0.49 $ 0.51 $ 0.50 $ 0.50 Diluted earnings per share $ 0.49 $ 0.50 $ 0.50 $ 0.50 2015 Quarter Ended (In thousands, except per share amounts) March 31, June 30, September 30, December 31, 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 expense 13,310 (3) 22,034 (4) 19,373 (5) 18,173 (6) 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 (1) 2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.3 million. (2) 2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.7 million. (3) 2015 amount includes costs associated with the CNB acquisition of $0.2 million. (4) 2015 amount includes costs associated with the CNB acquisition of $8.2 million. (5) 2015 amount includes costs associated with the CNB acquisition of $0.9 million. (6) 2015 amount includes costs associated with the CNB acquisition of $0.5 million.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2016
CNB
Business Acquisition [Line Items]
Schedule of recognized identified assets acquired and liabilities assumed	Measurement As Initially Period (In thousands) Reported Adjustments (1) As Adjusted Cash and due from banks $ 24,628 $ - $ 24,628 Securities 90,109 - 90,109 Loans 736,348 (6,935 ) 729,413 Bank owned life insurance 21,445 - 21,445 Premises and equipment 6,398 (5,122 ) 1,276 Other intangible assets 6,698 - 6,698 Other assets 14,484 7,245 21,729 Total assets acquired $ 900,110 $ (4,812 ) $ 895,298 Deposits $ 786,853 $ - $ 786,853 Federal Home Loan Bank term advances 35,581 - 35,581 Other liabilities and accrued expenses 5,647 6,214 11,861 Total liabilities assumed $ 828,081 $ 6,214 $ 834,295 Net assets acquired 72,029 (11,026 ) 61,003 Consideration paid 157,503 - 157,503 Goodwill recorded on acquisition $ 85,474 $ 11,026 $ 96,500 (1) Explanation of measurement period adjustments: Loans Premises and equipment Other assets Other liabilities and accrued expenses

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Impaired Intangible Assets [Abstract]
Estimated useful life	10 years
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	$ 3,353,000	$ 2,591,000
Balance of loans collectively evaluated for impairment	2,583,074,000	$ 2,387,815,000
Minimum
Allowance for loan losses
Balance of loans individually evaluated for impairment	50,000
Maximum
Allowance for loan losses
Balance of loans collectively evaluated for impairment	$ 50,000

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 1) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)
Premises and equipment
Servicing assets	$ 975	$ 893
Dividends
Amount up to which dividends can be declared by the Bank to the Parent Company	$ 37,600
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	$ 14,800
Segment Reporting
Number of reportable operating segment | segment	1
Fixed asset measurement period adjustment	$ 300
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, 2016	Dec. 31, 2015
Available for sale:
Amortized Cost	$ 834,564	$ 808,168
Gross Unrealized Gains	383	1,193
Gross Unrealized Losses	(15,225)	(9,158)
Estimated Fair Value	819,722	800,203
Held to maturity:
Held-to-maturity Securities	223,237	208,351
Gross Unrealized Gains	1,692	2,867
Gross Unrealized Losses	(2,051)	(1,215)
Estimated Fair Value	222,878	210,003
Total securities
Amortized Cost	1,057,801	1,016,519
Gross Unrealized Gains	2,075	4,060
Gross Unrealized Losses	(17,276)	(10,373)
Investments, Fair Value Disclosure	1,042,600	1,010,206
U.S. GSE securities
Available for sale:
Amortized Cost	64,993	63,238
Gross Unrealized Gains
Gross Unrealized Losses	(1,344)	(564)
Estimated Fair Value	63,649	62,674
Held to maturity:
Held-to-maturity Securities		7,466
Gross Unrealized Gains		1
Gross Unrealized Losses
Estimated Fair Value		7,467
State and municipal obligations
Available for sale:
Amortized Cost	117,292	87,830
Gross Unrealized Gains	212	427
Gross Unrealized Losses	(1,339)	(322)
Estimated Fair Value	116,165	87,935
Held to maturity:
Held-to-maturity Securities	66,666	64,878
Gross Unrealized Gains	1,085	1,715
Gross Unrealized Losses	(130)	(113)
Estimated Fair Value	67,621	66,480
U.S. GSE residential mortgage-backed securities
Available for sale:
Amortized Cost	160,446	201,297
Gross Unrealized Gains	16	237
Gross Unrealized Losses	(2,414)	(1,270)
Estimated Fair Value	158,048	200,264
Held to maturity:
Held-to-maturity Securities	13,443	7,609
Gross Unrealized Gains
Gross Unrealized Losses	(287)	(106)
Estimated Fair Value	13,156	7,503
U.S. GSE residential collateralized mortgage Obligations
Available for sale:
Amortized Cost	373,098	321,253
Gross Unrealized Gains	149	513
Gross Unrealized Losses	(5,736)	(3,888)
Estimated Fair Value	367,511	317,878
Held to maturity:
Held-to-maturity Securities	61,639	60,933
Gross Unrealized Gains	352	617
Gross Unrealized Losses	(552)	(498)
Estimated Fair Value	61,439	61,052
U.S. GSE commercial mortgage-backed securities
Available for sale:
Amortized Cost	6,337	12,491
Gross Unrealized Gains	6	7
Gross Unrealized Losses	(36)	(80)
Estimated Fair Value	6,307	12,418
Held to maturity:
Held-to-maturity Securities	28,772	23,056
Gross Unrealized Gains	136	210
Gross Unrealized Losses	(509)	(313)
Estimated Fair Value	28,399	22,953
U.S. GSE commercial collateralized mortgage Obligations
Available for sale:
Amortized Cost	56,148	64,809
Gross Unrealized Gains		9
Gross Unrealized Losses	(956)	(620)
Estimated Fair Value	55,192	64,198
Held to maturity:
Held-to-maturity Securities	41,717	33,409
Gross Unrealized Gains	93	282
Gross Unrealized Losses	(573)	(185)
Estimated Fair Value	41,237	33,506
Other asset backed securities
Available for sale:
Amortized Cost	24,250	24,250
Gross Unrealized Gains
Gross Unrealized Losses	(1,697)	(1,879)
Estimated Fair Value	22,553	22,371
Corporate bonds
Available for sale:
Amortized Cost	32,000	33,000
Gross Unrealized Gains
Gross Unrealized Losses	(1,703)	(535)
Estimated Fair Value	30,297	32,465
Held to maturity:
Held-to-maturity Securities	11,000	11,000
Gross Unrealized Gains	26	42
Gross Unrealized Losses
Estimated Fair Value	$ 11,026	$ 11,042

SECURITIES (Details 1)

SECURITIES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available for sale:
Less than 12 months, Fair Value	$ 671,551	$ 488,360
Less than 12 months, Unrealized losses	(12,400)	(4,481)
Greater than 12 months, Fair Value	57,415	135,602
Greater than 12 months, Unrealized losses	(2,825)	(4,677)
Held to maturity:
Less than 12 months, Fair Value	101,846	63,690
Less than 12 months, Unrealized losses	(1,530)	(689)
Greater than 12 months, Fair Value	13,540	19,492
Greater than 12 months, Unrealized losses	(521)	(526)
U.S. GSE securities
Available for sale:
Less than 12 months, Fair Value	63,649	37,759
Less than 12 months, Unrealized losses	(1,344)	(235)
Greater than 12 months, Fair Value		24,914
Greater than 12 months, Unrealized losses		(329)
State and municipal obligations
Available for sale:
Less than 12 months, Fair Value	78,883	39,621
Less than 12 months, Unrealized losses	(1,338)	(298)
Greater than 12 months, Fair Value	240	5,118
Greater than 12 months, Unrealized losses	(1)	(24)
Held to maturity:
Less than 12 months, Fair Value	21,867	18,375
Less than 12 months, Unrealized losses	(130)	(113)
Greater than 12 months, Fair Value
Greater than 12 months, Unrealized losses
U.S. GSE residential mortgage-backed securities
Available for sale:
Less than 12 months, Fair Value	140,514	136,025
Less than 12 months, Unrealized losses	(2,409)	(1,224)
Greater than 12 months, Fair Value	241	1,510
Greater than 12 months, Unrealized losses	(5)	(46)
Held to maturity:
Less than 12 months, Fair Value	13,156	7,503
Less than 12 months, Unrealized losses	(287)	(106)
Greater than 12 months, Fair Value
Greater than 12 months, Unrealized losses
U.S. GSE residential collateralized mortgage Obligations
Available for sale:
Less than 12 months, Fair Value	319,197	187,543
Less than 12 months, Unrealized losses	(5,221)	(1,781)
Greater than 12 months, Fair Value	15,627	66,830
Greater than 12 months, Unrealized losses	(515)	(2,107)
Held to maturity:
Less than 12 months, Fair Value	31,297	15,918
Less than 12 months, Unrealized losses	(455)	(149)
Greater than 12 months, Fair Value	3,873	15,679
Greater than 12 months, Unrealized losses	(97)	(349)
U.S. GSE commercial mortgage-backed securities
Available for sale:
Less than 12 months, Fair Value	2,573	8,594
Less than 12 months, Unrealized losses	(36)	(80)
Greater than 12 months, Fair Value
Greater than 12 months, Unrealized losses
Held to maturity:
Less than 12 months, Fair Value	12,860	13,982
Less than 12 months, Unrealized losses	(286)	(313)
Greater than 12 months, Fair Value	5,877
Greater than 12 months, Unrealized losses	(223)
U.S. GSE commercial collateralized mortgage Obligations
Available for sale:
Less than 12 months, Fair Value	48,901	51,178
Less than 12 months, Unrealized losses	(886)	(503)
Greater than 12 months, Fair Value	6,292	10,034
Greater than 12 months, Unrealized losses	(70)	(117)
Held to maturity:
Less than 12 months, Fair Value	22,666	7,912
Less than 12 months, Unrealized losses	(372)	(8)
Greater than 12 months, Fair Value	3,790	3,813
Greater than 12 months, Unrealized losses	(201)	(177)
Other asset backed securities
Available for sale:
Less than 12 months, Fair Value
Less than 12 months, Unrealized losses
Greater than 12 months, Fair Value	22,552	22,371
Greater than 12 months, Unrealized losses	(1,697)	(1,879)
Corporate bonds
Available for sale:
Less than 12 months, Fair Value	17,834	27,640
Less than 12 months, Unrealized losses	(1,166)	(360)
Greater than 12 months, Fair Value	12,463	4,825
Greater than 12 months, Unrealized losses	(537)	(175)
Held to maturity:
Less than 12 months, Fair Value
Less than 12 months, Unrealized losses
Greater than 12 months, Fair Value
Greater than 12 months, Unrealized losses

SECURITIES (Details 2)

SECURITIES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Available for sale:
Within one year	$ 14,635
One to five years	77,557
Five to ten years	141,968
Beyond ten years	585,562
Estimated Fair Value	819,722	$ 800,203
Amortized Cost, Available for sale:
Within one year	14,638
One to five years	78,467
Five to ten years	145,385
Beyond ten years	596,074
Total	834,564	808,168
Fair Value, Held to maturity:
Within one year	20,657
One to five years	21,998
Five to ten years	67,708
Beyond ten years	112,515
Estimated Fair Value	222,878	210,003
Amortized Cost, Held to maturity:
Within one year	20,635
One to five years	21,881
Five to ten years	67,206
Beyond ten years	113,515
Total	223,237	208,351
Fair Value, Total securities
Within One Year	35,292
After One But Within Five Years	99,555
After Five But Within Ten Years	209,676
After Ten Years	698,077
Total securities	1,042,600	1,010,206
Amortized Cost, Total securities
Within One Year	35,273
After One But Within Five Years	100,348
After Five But Within Ten	212,591
After Ten Years	709,589
Amortized Cost	1,057,801	1,016,519
U.S. GSE securities
Fair Value, Available for sale:
Within one year
One to five years	26,593
Five to ten years	37,056
Beyond ten years
Estimated Fair Value	63,649	62,674
Amortized Cost, Available for sale:
Within one year
One to five years	26,994
Five to ten years	37,999
Beyond ten years
Total	64,993	63,238
Fair Value, Held to maturity:
Estimated Fair Value		7,467
Amortized Cost, Held to maturity:
Total		7,466
State and municipal obligations
Fair Value, Available for sale:
Within one year	14,635
One to five years	50,964
Five to ten years	42,921
Beyond ten years	7,645
Estimated Fair Value	116,165	87,935
Amortized Cost, Available for sale:
Within one year	14,638
One to five years	51,473
Five to ten years	43,461
Beyond ten years	7,720
Total	117,292	87,830
Fair Value, Held to maturity:
Within one year	9,631
One to five years	16,982
Five to ten years	39,133
Beyond ten years	1,875
Estimated Fair Value	67,621	66,480
Amortized Cost, Held to maturity:
Within one year	9,635
One to five years	16,818
Five to ten years	38,361
Beyond ten years	1,852
Total	66,666	64,878
U.S. GSE residential mortgage-backed securities
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	16,124
Beyond ten years	141,924
Estimated Fair Value	158,048	200,264
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	16,227
Beyond ten years	144,219
Total	160,446	201,297
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years	1,688
Beyond ten years	11,468
Estimated Fair Value	13,156	7,503
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years	1,701
Beyond ten years	11,742
Total	13,443	7,609
U.S. GSE residential collateralized mortgage Obligations
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	9,263
Beyond ten years	358,248
Estimated Fair Value	367,511	317,878
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	9,361
Beyond ten years	363,737
Total	373,098	321,253
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years	7,389
Beyond ten years	54,050
Estimated Fair Value	61,439	61,052
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years	7,394
Beyond ten years	54,245
Total	61,639	60,933
U.S. GSE commercial mortgage-backed securities
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	6,307
Beyond ten years
Estimated Fair Value	6,307	12,418
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	6,337
Beyond ten years
Total	6,337	12,491
Fair Value, Held to maturity:
Within one year
One to five years	5,016
Five to ten years	14,568
Beyond ten years	8,815
Estimated Fair Value	28,399	22,953
Amortized Cost, Held to maturity:
Within one year
One to five years	5,063
Five to ten years	14,621
Beyond ten years	9,088
Total	28,772	23,056
U.S. GSE commercial collateralized mortgage Obligations
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	55,192
Estimated Fair Value	55,192	64,198
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	56,148
Total	56,148	64,809
Fair Value, Held to maturity:
Within one year
One to five years
Five to ten years	4,930
Beyond ten years	36,307
Estimated Fair Value	41,237	33,506
Amortized Cost, Held to maturity:
Within one year
One to five years
Five to ten years	5,129
Beyond ten years	36,588
Total	41,717	33,409
Other asset backed securities
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	22,553
Estimated Fair Value	22,553	22,371
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years
Beyond ten years	24,250
Total	24,250	24,250
Corporate bonds
Fair Value, Available for sale:
Within one year
One to five years
Five to ten years	30,297
Beyond ten years
Estimated Fair Value	30,297	32,465
Amortized Cost, Available for sale:
Within one year
One to five years
Five to ten years	32,000
Beyond ten years
Total	32,000	33,000
Fair Value, Held to maturity:
Within one year	11,026
One to five years
Five to ten years
Beyond ten years
Estimated Fair Value	11,026	11,042
Amortized Cost, Held to maturity:
Within one year	11,000
One to five years
Five to ten years
Beyond ten years
Total	$ 11,000	$ 11,000

SECURITIES (Detail Textuals)

SECURITIES (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other-Than-Temporary-Impairment
Proceeds from sales of securities available for sale	$ 264,358	$ 75,750	$ 360,963
Gross gains realized on sale of securities available for sale	1,600	500	1,200
Gross losses realized on sale of securities available for sale	1,200	500	$ 2,300
Securities, restricted	34,743	24,788
Fair value of securities pledged to secure public deposits and FHLB and FRB overnight borrowings	$ 570,100	$ 611,000
Threshold for disclosure percentage	10.00%	10.00%
Credit support for student loan backed bonds description	The bonds have credit support of 3% to 5%
Guaranteed portion of student loan backed bonds	Student loan backed bonds which are guaranteed by the U.S. Department of Education for 97% to 100% of principal.

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Classifications of loans
Total loans	$ 2,596,205	$ 2,407,522
Net deferred loan costs and fees	4,235	3,252
Total loans held for investment	2,600,440	2,410,774
Allowance for loan losses	(25,904)	(20,744)	$ (17,637)	$ (16,001)
Loans, net	2,574,536	2,390,030
Commercial real estate | Mortgage loans
Classifications of loans
Total loans	1,016,983	999,474
Allowance for loan losses	(8,759)	(7,850)	(6,994)	(6,279)
Multi-family | Mortgage loans
Classifications of loans
Total loans	518,146	350,793
Allowance for loan losses	(6,264)	(4,208)	(2,670)	(1,597)
Residential Real Estate | Mortgage loans
Classifications of loans
Total loans	439,653	446,740
Allowance for loan losses	(1,961)	(2,115)	(2,208)	(2,712)
Commercial, industrial and agricultural loans
Classifications of loans
Total loans	524,450	501,766
Allowance for loan losses	(7,837)	(5,405)	(4,526)	(4,006)
Real estate-construction and land loans
Classifications of loans
Total loans	80,605	91,153
Allowance for loan losses	(955)	(1,030)	(1,104)	(1,206)
Installment/consumer loans
Classifications of loans
Total loans	16,368	17,596
Allowance for loan losses	$ (128)	$ (136)	$ (135)	$ (201)

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Loan Losses
Beginning balance	$ 20,744	$ 17,637	$ 16,001
Charge-offs	(987)	(1,128)	(824)
Recoveries	597	235	260
Provision for loan losses	5,550	4,000	2,200
Ending balance	25,904	20,744	17,637
Commercial Real Estate | Mortgage loans
Allowance for Loan Losses
Beginning balance	7,850	6,994	6,279
Charge-offs		(50)	(461)
Recoveries	109
Provision for loan losses	800	906	1,176
Ending balance	8,759	7,850	6,994
Multi-Family | Mortgage loans
Allowance for Loan Losses
Beginning balance	4,208	2,670	1,597
Charge-offs
Recoveries
Provision for loan losses	2,056	1,538	1,073
Ending balance	6,264	4,208	2,670
Residential Real Estate | Mortgage loans
Allowance for Loan Losses
Beginning balance	2,115	2,208	2,712
Charge-offs	(56)	(249)	(257)
Recoveries	96	79	170
Provision for loan losses	(194)	77	(417)
Ending balance	1,961	2,115	2,208
Commercial, Industrial and Agricultural Loans
Allowance for Loan Losses
Beginning balance	5,405	4,526	4,006
Charge-offs	(930)	(827)	(104)
Recoveries	386	149	87
Provision for loan losses	2,976	1,557	537
Ending balance	7,837	5,405	4,526
Real Estate Construction and Land Loans
Allowance for Loan Losses
Beginning balance	1,030	1,104	1,206
Charge-offs
Recoveries
Provision for loan losses	(75)	(74)	(102)
Ending balance	955	1,030	1,104
Installment/Consumer Loans
Allowance for Loan Losses
Beginning balance	136	135	201
Charge-offs	(1)	(2)	(2)
Recoveries	6	7	3
Provision for loan losses	(13)	(4)	(67)
Ending balance	$ 128	$ 136	$ 135

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses:
Individually evaluated for impairment	$ 1	$ 29
Collectively evaluated for impairment	25,903	20,715
Loans acquired with deteriorated credit quality
Total allowance for loan losses	25,904	20,744	$ 17,637	$ 16,001
Loans:
Individually evaluated for impairment	3,353	2,591
Collectively evaluated for impairment	2,583,074	2,387,815
Loans acquired with deteriorated credit quality	9,778	17,116
Total loans	2,596,205	2,407,522
Commercial Real Estate | Mortgage loans
Allowance for loan losses:
Individually evaluated for impairment		20
Collectively evaluated for impairment	8,759	7,830
Loans acquired with deteriorated credit quality
Total allowance for loan losses	8,759	7,850	6,994	6,279
Loans:
Individually evaluated for impairment	1,539	1,629
Collectively evaluated for impairment	1,013,563	992,137
Loans acquired with deteriorated credit quality	1,881	5,708
Total loans	1,016,983	999,474
Multi-family | Mortgage loans
Allowance for loan losses:
Individually evaluated for impairment
Collectively evaluated for impairment	6,264	4,208
Loans acquired with deteriorated credit quality
Total allowance for loan losses	6,264	4,208	2,670	1,597
Loans:
Individually evaluated for impairment
Collectively evaluated for impairment	514,853	347,054
Loans acquired with deteriorated credit quality	3,293	3,739
Total loans	518,146	350,793
Residential Real Estate | Mortgage loans
Allowance for loan losses:
Individually evaluated for impairment
Collectively evaluated for impairment	1,961	2,115
Loans acquired with deteriorated credit quality
Total allowance for loan losses	1,961	2,115	2,208	2,712
Loans:
Individually evaluated for impairment	784	672
Collectively evaluated for impairment	437,999	444,801
Loans acquired with deteriorated credit quality	870	1,267
Total loans	439,653	446,740
Commercial, Industrial and Agricultural Loans
Allowance for loan losses:
Individually evaluated for impairment	1	9
Collectively evaluated for impairment	7,836	5,396
Loans acquired with deteriorated credit quality
Total allowance for loan losses	7,837	5,405	4,526	4,006
Loans:
Individually evaluated for impairment	1,030	290
Collectively evaluated for impairment	519,686	495,074
Loans acquired with deteriorated credit quality	3,734	6,402
Total loans	524,450	501,766
Real Estate Construction and Land Loans
Allowance for loan losses:
Individually evaluated for impairment
Collectively evaluated for impairment	955	1,030
Loans acquired with deteriorated credit quality
Total allowance for loan losses	955	1,030	1,104	1,206
Loans:
Individually evaluated for impairment
Collectively evaluated for impairment	80,605	91,153
Loans acquired with deteriorated credit quality
Total loans	80,605	91,153
Installment/Consumer Loans
Allowance for loan losses:
Individually evaluated for impairment
Collectively evaluated for impairment	128	136
Loans acquired with deteriorated credit quality
Total allowance for loan losses	128	136	$ 135	$ 201
Loans:
Individually evaluated for impairment
Collectively evaluated for impairment	16,368	17,596
Loans acquired with deteriorated credit quality
Total loans	$ 16,368	$ 17,596

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Loans by class categorized by internally assigned risk grades
Total loans	$ 2,596,205	$ 2,407,522
Pass
Loans by class categorized by internally assigned risk grades
Total loans	2,511,904	2,380,596
Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	73,225	7,733
Substandard
Loans by class categorized by internally assigned risk grades
Total loans	11,076	19,193
Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial real estate | Mortgage loans
Loans by class categorized by internally assigned risk grades
Total loans	1,016,983	999,474
Commercial real estate | Mortgage loans | Owner occupied
Loans by class categorized by internally assigned risk grades
Total loans	424,215	471,321
Commercial real estate | Mortgage loans | Owner occupied | Pass
Loans by class categorized by internally assigned risk grades
Total loans	404,584	465,967
Commercial real estate | Mortgage loans | Owner occupied | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	18,909	3,239
Commercial real estate | Mortgage loans | Owner occupied | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	722	2,115
Commercial real estate | Mortgage loans | Owner occupied | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial real estate | Mortgage loans | Non-owner occupied
Loans by class categorized by internally assigned risk grades
Total loans	592,768	528,153
Commercial real estate | Mortgage loans | Non-owner occupied | Pass
Loans by class categorized by internally assigned risk grades
Total loans	569,870	519,124
Commercial real estate | Mortgage loans | Non-owner occupied | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	20,035	542
Commercial real estate | Mortgage loans | Non-owner occupied | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	2,863	8,487
Commercial real estate | Mortgage loans | Non-owner occupied | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Multi-family | Mortgage loans
Loans by class categorized by internally assigned risk grades
Total loans	518,146	350,793
Multi-family | Mortgage loans | Pass
Loans by class categorized by internally assigned risk grades
Total loans	518,146	350,785
Multi-family | Mortgage loans | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans
Multi-family | Mortgage loans | Substandard
Loans by class categorized by internally assigned risk grades
Total loans		8
Multi-family | Mortgage loans | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Residential real estate | Mortgage loans
Loans by class categorized by internally assigned risk grades
Total loans	439,653	446,740
Residential real estate | Mortgage loans | Residential
Loans by class categorized by internally assigned risk grades
Total loans	374,518	378,414
Residential real estate | Mortgage loans | Residential | Pass
Loans by class categorized by internally assigned risk grades
Total loans	372,853	377,482
Residential real estate | Mortgage loans | Residential | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	82	87
Residential real estate | Mortgage loans | Residential | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	1,583	845
Residential real estate | Mortgage loans | Residential | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Residential real estate | Mortgage loans | Home equity
Loans by class categorized by internally assigned risk grades
Total loans	65,135	68,326
Residential real estate | Mortgage loans | Home equity | Pass
Loans by class categorized by internally assigned risk grades
Total loans	64,195	66,910
Residential real estate | Mortgage loans | Home equity | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	563	523
Residential real estate | Mortgage loans | Home equity | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	377	893
Residential real estate | Mortgage loans | Home equity | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial, Industrial and Agricultural Loans
Loans by class categorized by internally assigned risk grades
Total loans	524,450	501,766
Commercial, Industrial and Agricultural Loans | Secured
Loans by class categorized by internally assigned risk grades
Total loans	109,234	123,737
Commercial, Industrial and Agricultural Loans | Secured | Pass
Loans by class categorized by internally assigned risk grades
Total loans	75,837	121,037
Commercial, Industrial and Agricultural Loans | Secured | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	31,143	151
Commercial, Industrial and Agricultural Loans | Secured | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	2,254	2,549
Commercial, Industrial and Agricultural Loans | Secured | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans
Commercial, Industrial and Agricultural Loans | Unsecured
Loans by class categorized by internally assigned risk grades
Total loans	415,216	378,029
Commercial, Industrial and Agricultural Loans | Unsecured | Pass
Loans by class categorized by internally assigned risk grades
Total loans	409,879	370,642
Commercial, Industrial and Agricultural Loans | Unsecured | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans	2,493	3,191
Commercial, Industrial and Agricultural Loans | Unsecured | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	2,844	4,196
Commercial, Industrial and Agricultural Loans | 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	80,605	91,153
Real estate construction and land loans | Pass
Loans by class categorized by internally assigned risk grades
Total loans	80,272	91,153
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	333
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	16,368	17,596
Installment/consumer loans | Pass
Loans by class categorized by internally assigned risk grades
Total loans	16,268	17,496
Installment/consumer loans | Special Mention
Loans by class categorized by internally assigned risk grades
Total loans
Installment/consumer loans | Substandard
Loans by class categorized by internally assigned risk grades
Total loans	100	100
Installment/consumer loans | Doubtful
Loans by class categorized by internally assigned risk grades
Total loans

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	$ 1,027	$ 964
Nonaccrual Including 90 Days or More Past Due	1,241	1,350
Total Past Due and Nonaccrual	4,424	3,819
Current	2,591,781	2,403,703
Total loans	2,596,205	2,407,522
30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	2,156	1,136
60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		369
Commercial real estate | Mortgage loans
Past Due and Nonaccrual Loans
Total loans	1,016,983	999,474
Commercial real estate | Mortgage loans | Owner occupied
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	467	435
Nonaccrual Including 90 Days or More Past Due	184	631
Total Past Due and Nonaccrual	873	1,066
Current	423,342	470,255
Total loans	424,215	471,321
Commercial real estate | Mortgage loans | Owner occupied | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	222
Commercial real estate | Mortgage loans | Owner occupied | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial real estate | Mortgage loans | Non-owner occupied
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	592,768	528,153
Total loans	592,768	528,153
Commercial real estate | Mortgage loans | Non-owner occupied | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial real estate | Mortgage loans | Non-owner occupied | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Multi-family | Mortgage 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	518,146	350,793
Total loans	518,146	350,793
Multi-family | Mortgage loans | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Multi-family | Mortgage loans | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Residential real estate | Mortgage loans
Past Due and Nonaccrual Loans
Total loans	439,653	446,740
Residential real estate | Mortgage loans | Residential
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing
Nonaccrual Including 90 Days or More Past Due	770	62
Total Past Due and Nonaccrual	2,002	1,246
Current	372,516	377,168
Total loans	374,518	378,414
Residential real estate | Mortgage loans | Residential | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	1,232	939
Residential real estate | Mortgage loans | Residential | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		245
Residential real estate | Mortgage loans | Home equity
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	238	188
Nonaccrual Including 90 Days or More Past Due	265	610
Total Past Due and Nonaccrual	1,035	967
Current	64,100	67,359
Total loans	65,135	68,326
Residential real estate | Mortgage loans | Home equity | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	532	69
Residential real estate | Mortgage loans | Home equity | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual		100
Commercial and industrial
Past Due and Nonaccrual Loans
Total loans	524,450	501,766
Commercial and industrial | Secured
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	204	341
Nonaccrual Including 90 Days or More Past Due
Total Past Due and Nonaccrual	231	341
Current	109,003	123,396
Total loans	109,234	123,737
Commercial and industrial | Secured | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	27
Commercial and industrial | Secured | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual
Commercial and industrial | Unsecured
Past Due and Nonaccrual Loans
>90 Days Past Due and Accruing	118
Nonaccrual Including 90 Days or More Past Due	22	44
Total Past Due and Nonaccrual	255	196
Current	414,961	377,833
Total loans	415,216	378,029
Commercial and industrial | Unsecured | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	115	128
Commercial and industrial | 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	80,605	91,153
Total loans	80,605	91,153
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
Total Past Due and Nonaccrual	28	3
Current	16,340	17,593
Total loans	16,368	17,596
Installment/consumer loans | 30-59 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual	28
Installment/consumer loans | 60-89 Days Past Due
Past Due and Nonaccrual Loans
Total Past Due and Nonaccrual

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Recorded Investment
With no related allowance recorded	$ 3,287	$ 2,079	$ 5,470
With an allowance recorded	66	512	731
Total impaired loans	3,353	2,591	6,201
Unpaid Principal Balance
With no related allowance recorded	3,558	2,361	6,228
With an allowance recorded	66	512	751
Total impaired loans	3,624	2,873	6,979
Related Allocated Allowance
With an allowance recorded	1	29	174
Total impaired loans	1	29	174
Average Recorded Investment
With no related allowance recorded	1,895	2,140	5,717
With an allowance recorded	43	543	308
Average recorded investment in impaired loans	1,938	2,683	6,025
Interest Income Recognized
With no related allowance recorded	116	78	201
With an allowance recorded	7	32	13
Total impaired loans	123	110	214
Commercial real estate | Mortgage loans | Owner occupied
Recorded Investment
With no related allowance recorded	326	384	3,562
With an allowance recorded
Total impaired loans	326	384	3,562
Unpaid Principal Balance
With no related allowance recorded	538	564	3,707
With an allowance recorded
Total impaired loans	538	564	3,707
Related Allocated Allowance
With an allowance recorded
Total impaired loans
Average Recorded Investment
With no related allowance recorded	176	412	3,974
With an allowance recorded
Average recorded investment in impaired loans	176	412	3,974
Interest Income Recognized
With no related allowance recorded	10	10	113
With an allowance recorded
Total impaired loans	10	10	113
Commercial real estate | Mortgage loans | Non-owner occupied
Recorded Investment
With no related allowance recorded	1,213	927	1,251
With an allowance recorded		318	323
Total impaired loans	1,213	1,245	1,574
Unpaid Principal Balance
With no related allowance recorded	1,213	928	1,568
With an allowance recorded		318	323
Total impaired loans	1,213	1,246	1,891
Related Allocated Allowance
With an allowance recorded		20	23
Total impaired loans		20	23
Average Recorded Investment
With no related allowance recorded	614	938	961
With an allowance recorded		320	27
Average recorded investment in impaired loans	614	1,258	988
Interest Income Recognized
With no related allowance recorded	75	62	63
With an allowance recorded		15
Total impaired loans	75	77	63
Residential real estate | Mortgage loans | Residential
Recorded Investment
With no related allowance recorded	520	62	143
With an allowance recorded
Total impaired loans	520	62	143
Unpaid Principal Balance
With no related allowance recorded	558	73	231
With an allowance recorded
Total impaired loans	558	73	231
Related Allocated Allowance
With an allowance recorded
Total impaired loans
Average Recorded Investment
With no related allowance recorded	276	66	199
With an allowance recorded
Average recorded investment in impaired loans	276	66	199
Interest Income Recognized
With no related allowance recorded
With an allowance recorded
Total impaired loans
Residential real estate | Mortgage loans | Home equity
Recorded Investment
With no related allowance recorded	264	610	169
With an allowance recorded			71
Total impaired loans	264	610	240
Unpaid Principal Balance
With no related allowance recorded	285	700	377
With an allowance recorded			89
Total impaired loans	285	700	466
Related Allocated Allowance
With an allowance recorded			72
Total impaired loans			72
Average Recorded Investment
With no related allowance recorded	328	631	229
With an allowance recorded			75
Average recorded investment in impaired loans	328	631	304
Interest Income Recognized
With no related allowance recorded
With an allowance recorded			13
Total impaired loans			13
Commercial and industrial | Secured
Recorded Investment
With no related allowance recorded	556	96	345
With an allowance recorded
Total impaired loans	556	96	345
Unpaid Principal Balance
With no related allowance recorded	556	96	345
With an allowance recorded
Total impaired loans	556	96	345
Related Allocated Allowance
With an allowance recorded
Total impaired loans
Average Recorded Investment
With no related allowance recorded	274	93	354
With an allowance recorded
Average recorded investment in impaired loans	274	93	354
Interest Income Recognized
With no related allowance recorded	12	6	25
With an allowance recorded
Total impaired loans	12	6	25
Commercial and industrial | Unsecured
Recorded Investment
With no related allowance recorded	408
With an allowance recorded	66	194	337
Total impaired loans	474	194	337
Unpaid Principal Balance
With no related allowance recorded	408
With an allowance recorded	66	194	339
Total impaired loans	474	194	339
Related Allocated Allowance
With an allowance recorded	1	9	79
Total impaired loans	1	9	79
Average Recorded Investment
With no related allowance recorded	227
With an allowance recorded	43	223	206
Average recorded investment in impaired loans	270	223	206
Interest Income Recognized
With no related allowance recorded	19
With an allowance recorded	7	17
Total impaired loans	$ 26	$ 17

LOANS (Details 6)

LOANS (Details 6) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)contract	Dec. 31, 2015USD ($)contract	Dec. 31, 2014USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	6	3	4
Pre-Modification Outstanding Recorded Investment	$ 1,305	$ 160	$ 582
Post-Modification Outstanding Recorded Investment	$ 1,305	$ 160	$ 582
Commercial real estate | Mortgage loans | Owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Commercial real estate | Mortgage loans | Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract			1
Pre-Modification Outstanding Recorded Investment			$ 323
Post-Modification Outstanding Recorded Investment			$ 323
Residential real estate | Mortgage loans | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1
Pre-Modification Outstanding Recorded Investment	$ 252
Post-Modification Outstanding Recorded Investment	$ 252
Residential real estate | Mortgage loans | Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1		1
Pre-Modification Outstanding Recorded Investment	$ 69		$ 127
Post-Modification Outstanding Recorded Investment	$ 69		$ 127
Commercial and industrial | Secured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	3
Pre-Modification Outstanding Recorded Investment	$ 459
Post-Modification Outstanding Recorded Investment	$ 459
Commercial and industrial | Unsecured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1	3	1
Pre-Modification Outstanding Recorded Investment	$ 525	$ 160	$ 127
Post-Modification Outstanding Recorded Investment	$ 525	$ 160	$ 127
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 7)

LOANS (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Activity in the accretable yield for the purchased credit impaired loans
Balance at the beginning of the period	$ 7,113	$ 8,432
Accretable discount arising from acquisition of PCI loans		259
Accretion	(4,924)	(3,570)
Reclassification from nonaccretable difference during the period	4,492	1,992
Other	234
Accretable discount at end of period	$ 6,915	$ 7,113

LOANS (Details 8)

LOANS (Details 8) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance at January 1, 2016	$ 22,789
New loans	1,901
Repayments	(2,574)
Balance at December 31, 2016	$ 22,116

LOANS (Detail Textuals)

LOANS (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Family	Dec. 31, 2015USD ($)	Jun. 19, 2015USD ($)	Feb. 14, 2014USD ($)
CNB
Classifications of loans
Addition in acquired loans recorded at fair value			$ 729,413
Fair value of loans acquired	$ 464,200	$ 659,700
FNBNY
Classifications of loans
Fair value of loans acquired	26,500	$ 37,700		$ 89,700
Commercial real estate | Mortgage loans
Lending Risk
Loan amount beyond which annual financial information is sought	$ 250
Residential real estate | Minimum | Mortgage loans | Home equity
Lending Risk
Loan-to-value ratio (as a percent)	80.00%
Multi-family | Mortgage loans
Lending Risk
Number of families having income producing residential investment properties | Family	5
Multi-family | Maximum | Mortgage loans
Lending Risk
Loan-to-value ratio (as a percent)	75.00%

LOANS (Detail Textuals 1)

LOANS (Detail Textuals 1) $ in Thousands	1 Months Ended		12 Months Ended
	Jun. 19, 2015USD ($)	Feb. 14, 2014USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Financing Receivables
Total loans			$ 2,596,205	$ 2,407,522
Impaired loans			3,400	2,600
Other real estate owned				250
Charge offs relating to TDRs			$ 100	700	$ 500
Number of loans modified as TDRs for which there was a payment default within twelve months following the modification | segment			1
Period of modified contractually past due loans to be considered as payment default			30 days
Nonaccrual troubled debt restructured loans			$ 300	100
Amount of current and performing TDR loans			2,400	1,700
Appraised value of collateral for nonaccrual TDR loans			1,300	300
Post-Modification of other than troubled debt restructuring, recorded investment			38,900
Special Mention
Financing Receivables
Total loans			73,225	7,733
Substandard
Financing Receivables
Total loans			11,076	19,193
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			12,200	16,700
Carrying amount of purchased credit impaired loans			7,000	8,300
Remaining non-accretable difference			1,300	1,500
FNBNY | Special Mention
Financing Receivables
Total loans			200	100
FNBNY | Substandard
Financing Receivables
Total loans			200	200
CNB
Acquired Loans
Contractually required principal and interest payments receivable	$ 23,400
Expected cash flows	10,100
Fair value (initial carrying amount) of purchased credit impaired loans	8,700
Non-accretable difference	13,300
Initial accretable yield	$ 1,400
Outstanding balance of purchased credit impaired loans			12,200	22,500
Carrying amount of purchased credit impaired loans			2,300	8,200
Remaining non-accretable difference			6,900	13,300
CNB | 30-59 Days Past Due
Financing Receivables
Acquired loans			1,000	1,200
CNB | Special Mention
Financing Receivables
Total loans			10	20
CNB | Substandard
Financing Receivables
Total loans			$ 1,500	$ 9,600

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
PREMISES AND EQUIPMENT
Land	$ 7,951	$ 7,381
Building and improvements	15,272	14,839
Furniture, fixtures and equipment	20,295	22,292
Leasehold improvements	13,562	17,887
Premises and equipment, gross	57,080	62,399
Accumulated depreciation and amortization	(21,817)	(22,804)
Total	$ 35,263	$ 39,595

PREMISES AND EQUIPMENT (Detail

PREMISES AND EQUIPMENT (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
PREMISES AND EQUIPMENT
Depreciation and amortization	$ 3.5	$ 3.6	$ 2.6

GOODWILL AND OTHER INTANGIBLE67

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Balance at January 1		$ 98,445	$ 9,450
Acquired goodwill			88,995
Measurement period adjustments	[1]	7,505
Impairment
Balance at December 31		$ 105,950	$ 98,445
[1]	See Note 20 for details on the measurement period adjustments.

GOODWILL AND OTHER INTANGIBLE68

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Amortized intangible assets:
Gross Carrying Amount	$ 7,211	$ 9,399
Accumulated Amortization	2,362	1,916
Core deposit intangibles
Amortized intangible assets:
Gross Carrying Amount	7,211	7,211
Accumulated Amortization	2,362	1,186
Non-compete intangible
Amortized intangible assets:
Gross Carrying Amount		2,188
Accumulated Amortization		$ 730

GOODWILL AND OTHER INTANGIBLE69

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) $ in Thousands	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 1,047
2,018	917
2,019	787
2,020	656
2,021	531
Thereafter	911
Total	$ 4,849

GOODWILL AND OTHER INTANGIBLE70

GOODWILL AND OTHER INTANGIBLE ASSETS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Aggregate amortization expense	$ 2,637	$ 1,447	$ 300

DEPOSITS (Details)

DEPOSITS (Details) $ in Thousands	Dec. 31, 2016USD ($)
DEPOSITS
2,017	$ 98,272
2,018	38,660
2,019	20,317
2,020	5,724
2,021	43,388
Thereafter	371
Total	$ 206,732

DEPOSITS (Detail Textuals)

DEPOSITS (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Time deposits
Deposits from principal officers, directors and their affiliates	$ 13.9	$ 13.3
$250,000 or Greater
Time deposits
Deposits in excess of the FDIC limit	$ 65.4	$ 52

SECURITIES SOLD UNDER AGREEME73

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Details) - Securities sold under agreement to repurchase - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Securities sold under agreements to repurchase
Average daily balance during the year	$ 45,630	$ 30,317
Average interest rate during the year (as a percent)	0.85%	0.65%
Maximum month-end balance during the year	$ 51,197	$ 51,400
Weighted average interest rate at year-end (as a percent)	0.83%	0.64%

SECURITIES SOLD UNDER AGREEME74

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Securities sold under agreements to repurchase
Securities sold under agreements to repurchase	$ 674	$ 50,891
Carrying amount of U.S. GSE, mortgage-backed securities and collateralized mortgage obligations that serve as securities under repurchase agreements	2,300	$ 55,900
First quarter of 2017
Securities sold under agreements to repurchase
Securities sold under agreements to repurchase	$ 700
U.S. GSE residential collateralized mortgage Obligations
Securities sold under agreements to repurchase
Percentage of investment securities held as collateral	49.00%	4.00%
U.S. GSE residential mortgage-backed securities
Securities sold under agreements to repurchase
Percentage of investment securities held as collateral	51.00%
U.S. GSE securities
Securities sold under agreements to repurchase
Percentage of investment securities held as collateral		96.00%

FEDERAL HOME LOAN BANK ADVANC75

FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Contractual Maturity, Amount
Overnight	$ 175,000
2,016		249,599
2,017	294,113	19,149
2,018	25,431	25,781
2,019	2,140	2,978
Total FHLB advances except overnight advances	321,684	297,507
Total FHLB advances	$ 496,684	$ 297,507
Weighted Average Rate
Overnight (as a percent)	0.74%
2016 (as a percent)		0.75%
2017 (as a percent)	0.82%	0.74%
2018 (as a percent)	1.05%	1.04%
2019 (as a percent)	1.04%	1.08%
Weighted Average Rate for total FHLB advances except overnight advances (as a percent)	0.84%	0.78%
Weighted Average Rate for total FHLB advances (as a percent)	0.80%	0.78%

FEDERAL HOME LOAN BANK ADVANC76

FEDERAL HOME LOAN BANK ADVANCES (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Advances collateralized amount	$ 923.9	$ 666.3
Maximum borrowing amount from FHLB term advances	$ 1,220

BORROWED FUNDS (Detail Textuals

BORROWED FUNDS (Detail Textuals) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 80,000
Subordinated debentures, net		$ 78,502	$ 78,363
Subordinated Debentures | Callable after five years
Debt Instrument [Line Items]
Fixed-to-floating rate subordinated debentures	$ 40,000
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	$ 40,000
Fixed annual interest rate	5.75%
Debt instrument variable rate description	three-month LIBOR
Basis points	3.45%

BORROWED FUNDS (Detail Textua78

BORROWED FUNDS (Detail Textuals 1) - USD ($)	1 Months Ended					12 Months Ended
	Jan. 17, 2017	Dec. 28, 2016	May 27, 2016	May 26, 2016	Dec. 31, 2009	Dec. 31, 2016	Dec. 31, 2015
Junior subordinated debentures
Amount of debentures issued to trust						$ 15,244,000	$ 15,878,000
Subsequent event
Junior subordinated debentures
Trust preferred shares to be redeemed	350
Trust preferred securities liquidation amount to be redeemed	$ 350,000
Trust preferred securities (TPS)
Junior subordinated debentures
Number of shares to be issued upon conversion			34.4828	32.2581
Number of trust preferred securities converted		100				300
Aggregate liquidation amount of trust preferred securities converted		$ 100,000				$ 300,000
Number of shares issued for trust preferred securities conversions		3,448				10,344
Conversion price (in dollars per share)			$ 29	$ 31
Decrease in trust preferred securities after modification			$ 400,000
Net of trust preferred shares and debentures						$ 15,200,000	$ 15,900,000
Trust preferred securities (TPS) | Subsequent event
Junior subordinated debentures
Number of trust preferred securities converted	15,450
Aggregate liquidation amount of trust preferred securities converted	$ 15,500,000
Number of shares issued for trust preferred securities conversions	532,740
Bridge Statutory Capital Trust II | Trust preferred securities (TPS)
Junior subordinated debentures
Aggregate liquidation amount of trust preferred securities converted					$ 16,000,000
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
Junior Subordinated Debentures
Junior subordinated debentures
Amount of debentures issued to trust						$ 16,000,000
Fixed interest rate of debentures						8.50%
Maximum 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 Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivatives
Notional amounts	$ 175,000	$ 125,000
Weighted average pay rates (as a percent)	1.61%	1.58%
Weighted average receive rates (as a percent)	0.95%	0.51%
Weighted average maturity	2 years 11 months 23 days	3 years 2 months 19 days

DERIVATIVES (Details 1)

DERIVATIVES (Details 1) - Derivative designated as a cash flow hedge - Interest rate swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	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)	$ 1,191	$ (1,008)	$ (1,249)
Interest rate contracts, amount of gain (loss) reclassified from OCI to interest expense	(944)	(657)	(470)
Interest rate contracts, Amount of gain (loss) recognized in other Non-interest income (Ineffective Portion)

DERIVATIVES (Details 2)

DERIVATIVES (Details 2) - Derivative designated as a cash flow hedge - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Interest rate swaps related to FHLB Advances
Included in other assets/(liabilities):
Notional Amount	$ 175,000	$ 100,000
Fair Value Asset	1,994	14
Fair value liability	$ (1,153)	(713)
Forward starting interest rate swap related to FHLB advances
Included in other assets/(liabilities):
Notional Amount		25,000
Fair Value Asset
Fair value liability		$ (595)

DERIVATIVES (Details 3)

DERIVATIVES (Details 3) - Non-Designated Hedges - Interest rate swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivatives
Notional amounts	$ 62,472	$ 56,328
Weighted average pay rates (as a percent)	3.50%	3.39%
Weighted average receive rates (as a percent)	3.50%	3.39%
Weighted average maturity	13 years 11 months 19 days	15 years 7 months 2 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, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivatives
Notional amounts		$ 175,000,000	$ 125,000,000
Derivative asset position net		600,000
Derivative collateral		1,200,000
Federal Home Loan Bank
Derivatives
Interest expense on derivative		944,000	$ 657,000	$ 470,000
Reclassifications to interest expense		$ 944,000
Federal Home Loan Bank | Forecast
Derivatives
Interest expense on derivative	$ 805,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 14,730	$ 8,248	$ 3,926
State	780	1,230	507
Total current	15,510	9,478	4,433
Deferred:
Federal	2,388	1,457	2,187
State	897	(157)	619
Total deferred	3,285	1,300	2,806
Income tax expense	$ 18,795	$ 10,778	$ 7,239

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amount
Federal income tax expense computed by applying the statutory rate to income before income taxes	$ 19,000	$ 11,161	$ 7,141
Tax exempt interest	(986)	(927)	(665)
State taxes, net of federal income tax benefit	1,090	1,087	743
Other	(309)	(543)	20
Income tax expense	$ 18,795	$ 10,778	$ 7,239
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%	35.00%	34.00%
Tax exempt interest (as a percent)	(2.00%)	(3.00%)	(3.00%)
State taxes, net of federal income tax benefit (as a percent)	2.00%	3.00%	4.00%
Other (as a percent)		(1.00%)
Income tax expense (as a percent)	35.00%	34.00%	35.00%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Allowance for loan losses and off-balance sheet credit exposure	$ 11,401	$ 9,154
Net unrealized losses on securities	6,019	3,224
Compensation and related benefit obligations	2,226	1,435
Purchase accounting fair value adjustments	14,376	15,942
Net change in pension and other post-retirement benefits plans	3,249	2,811
Net operating loss carryforward	2,470	1,955
Net loss on cash flow hedges		524
Other	756	672
Total	40,497	35,717
Deferred tax liabilities:
Pension and SERP expense	(4,715)	(4,142)
Depreciation	(1,537)	(1,828)
REIT undistributed net income	(86)	(482)
Net deferred loan costs and fees	(1,844)	(1,416)
Net gain on cash flow hedges	(341)
State and local taxes	(1,862)	(1,541)
Other	(179)
Total deferred tax liabilities	(10,564)	(9,409)
Net deferred tax asset	$ 29,933	$ 26,308

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) $ in Millions	Dec. 31, 2016USD ($)
Operating Loss Carryforwards [Line Items]
NOL carryforward	$ 4
New York State
Operating Loss Carryforwards [Line Items]
NOL carryforward	14.8
New York City
Operating Loss Carryforwards [Line Items]
NOL carryforward	$ 6.2

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	$ 18,515	$ 18,960
Service cost	1,153	1,134	$ 905
Interest cost	794	706	639
Benefits paid and expected expenses	(279)	(264)
Assumption changes and other	661	(2,021)
Benefit obligation at end of year	20,844	18,515	18,960
Change in plan assets, at fair value:
Fair value of plan assets at beginning of year	24,562	23,887
Actual return on plan assets	1,416	(60)
Employer contribution	2,215	999
Benefits paid and actual expenses	(279)	(264)
Fair value of plan assets at end of year	27,914	24,562	23,887
Funded status at end of year	7,070	6,047
SERP Benefits
Change in benefit obligation:
Benefit obligation at beginning of year	2,555	2,457
Service cost	176	168	132
Interest cost	105	91	88
Benefits paid and expected expenses	(112)	(112)
Assumption changes and other	280	(49)
Benefit obligation at end of year	3,004	2,555	2,457
Change in plan assets, at fair value:
Fair value of plan assets at beginning of year
Actual return on plan assets
Employer contribution	112	112
Benefits paid and actual expenses	(112)	(112)
Fair value of plan assets at end of year
Funded status at end of year	$ (3,004)	$ (2,555)

EMPLOYEE BENEFITS (Details 1)

EMPLOYEE BENEFITS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Amounts recognized in accumulated other comprehensive income
Net amount recognized	$ (4,741)	$ (4,111)
Pension Benefits
Amounts recognized in accumulated other comprehensive income
Net actuarial loss	7,874	7,108
Prior service cost	(715)	(792)
Transition obligation
Net amount recognized	7,159	6,316
SERP Benefits
Amounts recognized in accumulated other comprehensive income
Net actuarial loss	800	546
Prior service cost
Transition obligation	32	60
Net amount recognized	$ 832	$ 606

EMPLOYEE BENEFITS (Details 2)

EMPLOYEE BENEFITS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Components of net periodic benefit cost and other amounts recognized in other comprehensive income:
Total recognized in other comprehensive income	$ 1,452	$ (196)	$ 5,529
Pension Benefits
Components of net periodic benefit cost and other amounts recognized in other comprehensive income:
Service cost	1,153	1,134	905
Interest cost	794	706	639
Expected return on plan assets	(1,927)	(1,838)	(1,625)
Amortization of net loss	406	376	27
Amortization of prior service credit	(77)	(77)	(77)
Amortization of transition obligation
Net periodic benefit cost (credit)	349	301	(131)
Net loss (gain)	1,172	(123)	5,099
Amortization of net loss	(406)	(376)	(27)
Amortization of prior service cost	77	77	77
Amortization of transition obligation
Total recognized in other comprehensive income	843	(422)	5,149
SERP Benefits
Components of net periodic benefit cost and other amounts recognized in other comprehensive income:
Service cost	176	168	132
Interest cost	105	91	88
Expected return on plan assets
Amortization of net loss	27	32
Amortization of prior service credit
Amortization of transition obligation	28	28	28
Net periodic benefit cost (credit)	336	319	248
Net loss (gain)	280	(48)	430
Amortization of net loss	(27)	(32)
Amortization of prior service cost
Amortization of transition obligation	(28)	(27)	(27)
Total recognized in other comprehensive income	$ 225	$ (107)	$ 403

EMPLOYEE BENEFITS (Details 3)

EMPLOYEE BENEFITS (Details 3)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension Benefits
Weighted average assumptions used to determine benefit obligations:
Discount rate (as a percent)	4.05%	4.30%	3.90%
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)	4.30%	3.90%	4.90%
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)	4.01%	4.20%	3.80%
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)	4.20%	3.80%	4.70%
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, 2016	Dec. 31, 2015
Target allocations for Plan assets
Percentage of Plan Assets	100.00%	100.00%
Cash Equivalents
Target allocations for Plan assets
Target Allocation 2017, minimum (as a percent)	0.00%
Target Allocation 2017, maximum (as a percent)	5.00%
Percentage of Plan Assets	3.00%	4.60%
Weighted-Average Expected Long-term Rate of Return (as a percent)
Equity Securities
Target allocations for Plan assets
Target Allocation 2017, minimum (as a percent)	45.00%
Target Allocation 2017, maximum (as a percent)	65.00%
Percentage of Plan Assets	64.00%	62.20%
Weighted-Average Expected Long-term Rate of Return (as a percent)	10.00%
Fixed income securities
Target allocations for Plan assets
Target Allocation 2017, minimum (as a percent)	35.00%
Target Allocation 2017, maximum (as a percent)	55.00%
Percentage of Plan Assets	33.00%	33.20%
Weighted-Average Expected Long-term Rate of Return (as a percent)	5.00%

EMPLOYEE BENEFITS (Details 5)

EMPLOYEE BENEFITS (Details 5) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension Benefits
Employee benefits
Total plan assets	$ 27,914	$ 24,562	$ 23,887
Carrying Amount | Recurring basis
Employee benefits
Total plan assets	27,914	24,562
Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	19,588	17,385
Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	8,326	7,177
Cash Equivalents | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	822	1,150
Cash Equivalents | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets		1,129
Cash Equivalents | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	822	21
Cash | Carrying Amount | Recurring basis
Employee benefits
Total plan assets		1,129
Cash | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets		1,129
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	822	21
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	822	21
Equity Securities | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	17,882	15,272
Equity Securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	17,882	15,272
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	8,950	7,472
U.S. Large cap | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	8,950	7,472
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	3,038	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	3,038	2,259
U.S. Mid cap/small cap | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
International | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	5,770	4,390
International | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	5,770	4,390
International | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets
Equity blend | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	124	1,151
Equity blend | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	124	1,151
Equity blend | 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	9,210	8,140
Fixed income securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	1,706	984
Fixed income securities | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	7,504	7,156
Government issues | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	1,948	1,329
Government issues | Quoted Prices In Active Markets for Identical Assets (Level 1) | Recurring basis
Employee benefits
Total plan assets	1,706	984
Government issues | Significant Other Observable Inputs (Level 2) | Recurring basis
Employee benefits
Total plan assets	242	345
Corporate bonds | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	1,795	1,308
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	1,795	1,308
Mortgage backed | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	960	562
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	960	562
High yield bonds and bond funds | Carrying Amount | Recurring basis
Employee benefits
Total plan assets	4,507	4,941
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	$ 4,507	$ 4,941

EMPLOYEE BENEFITS (Details 6)

EMPLOYEE BENEFITS (Details 6) $ in Thousands	Dec. 31, 2016USD ($)
Estimated future pension and SERP payments
2,017	$ 574
2,018	677
2,019	740
2,020	908
2,021	1,005
2022-2026	$ 6,476

EMPLOYEE BENEFITS (Details 7)

EMPLOYEE BENEFITS (Details 7) - Stock options	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Number of Options
Outstanding at the beginning of the period (in shares)	23,725
Exercised (in shares)	(23,725)
Outstanding at the end of the period (in shares)
Weighted Average Exercise Price
Outstanding at beginning of the period (in dollars per share) | $ / shares	$ 25.25
Exercised (in dollars per shares) | $ / shares	$ 25.25

EMPLOYEE BENEFITS (Details 8)

EMPLOYEE BENEFITS (Details 8) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of activity related to the stock options
Cash received from options exercised	$ 62	$ 80	$ 7
Stock options
Summary of activity related to the stock options
Intrinsic value of options exercised	115	52	4
Cash received from options exercised	62	80	4
Tax benefit realized from option exercised

EMPLOYEE BENEFITS (Details 9)

EMPLOYEE BENEFITS (Details 9) - Restricted stock	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Shares
Unvested at the beginning of the period (in shares) | shares	281,076
Granted (in shares) | shares	69,309
Vested (in shares) | shares	(41,727)
Forfeited (in shares) | shares	(6,667)
Unvested at the end of the period (in shares) | shares	301,991
Weighted Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 23.46
Granted (in dollars per share) | $ / shares	27.99
Vested (in dollars per share) | $ / shares	22.42
Forfeited (in dollars per share) | $ / shares	25.95
Unvested at the end of the period (in dollars per share) | $ / shares	$ 24.59

EMPLOYEE BENEFITS (Detail Textu

EMPLOYEE BENEFITS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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)	10.00%
Cumulative historical returns for the long term corporate bonds (as a percent)	5.00%
Pension Benefits
Employee benefits
Accumulated benefit obligation	$ 19,400	$ 17,100
Amortization from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Estimated net loss	450
Estimated prior service credit	77
SERP Benefits
Employee benefits
Accumulated benefit obligation	2,200	$ 1,900
Amortization from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year
Estimated net loss	51
Estimated transition obligation	$ 28

EMPLOYEE BENEFITS (Detail Tex99

EMPLOYEE BENEFITS (Detail Textuals 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity incentive plan
Description of Defined Contribution Pension and Other Postretirement Plans	100% of each employee's contributions up to1% of each employee's compensation plus 50% of each employee's contributions over 1% but not in excess of 6% of each employee's compensation for a maximum contribution of 3.5% of a participating employee's compensation.
Minimum employee contribution percentage	1.00%
Percentage of employer matching contribution	50.00%
Threshold limit percentage of employee compensation	6.00%
Maximum percentage of annual contribution per employee	3.50%
Cash contributions by the Bank	$ 786	$ 623	$ 530
Discretionary profit sharing contribution	$ 424	$ 276	$ 247
Shares of common stock approved for issuance under the Plan	803,385
Shares available for issuance	503,705
2012 Plan
Equity incentive plan
Shares of common stock approved for issuance under the Plan	525,000
2006 Plan
Equity incentive plan
Shares available for issuance	278,385

EMPLOYEE BENEFITS (Detail Te100

EMPLOYEE BENEFITS (Detail Textuals 2) - Restricted stock - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of restricted stock awards granted	69,309
Compensation expense	$ 1,500,000	$ 1,300,000	$ 1,100,000
Total fair value of shares vested	$ 935,000	$ 732,000	$ 579,000
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of restricted stock awards granted	69,309	71,187	80,273
Total unrecognized compensation costs	$ 4,400,000
Weighted-average period over which cost expected to be recognized	4 years 22 days
Seven year specified vesting schedule | 2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Number of restricted stock awards granted	36,000	30,625	53,425
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]
Number of restricted stock awards granted	27,709	24,812	20,598
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]
Number of restricted stock awards granted		10,550
Vesting period (in 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]
Number of restricted stock awards granted	5,600	4,000
Vesting period (in years)	3 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]
Number of restricted stock awards granted		1,200	6,250
Vesting period (in years)		2 years	2 years

EMPLOYEE BENEFITS (Detail Te101

EMPLOYEE BENEFITS (Detail Textuals 3) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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	$ 193,000	$ 81,000
LTI Plan | Restricted Stock Units Performance Vested Awards
Deferred compensation plan
Percentage of restricted stock units performance vested	60.00%
Vesting period (in years)	5 years
Additional holding period of RSU's	2 years
Shareholder return period	3 years
Directors | Restricted stock units
Deferred compensation plan
Vesting period (in years)	1 year
Deferred compensation expense	$ 493,000	$ 342,000	$ 147,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
EARNINGS PER SHARE
Net income	$ 35,491	$ 21,111	$ 13,763
Dividends paid on and earnings allocated to participating securities	(732)	(451)	(319)
Income attributable to common stock	$ 34,759	$ 20,660	$ 13,444
Weighted average common shares outstanding, including participating securities	17,670	14,792	11,633
Weighted average participating securities (in shares)	(366)	(319)	(278)
Weighted average common shares outstanding	17,304	14,473	11,355
Basic earnings per common share	$ 2.01	$ 1.43	$ 1.18
Income attributable to common stock	$ 34,759	$ 20,660	$ 13,444
Impact of assumed conversions - interest on 8.5% trust preferred securities	878
Income attributable to common stock including assumed conversions	$ 35,637	$ 20,660	$ 13,444
Weighted average common shares outstanding	17,304	14,473	11,355
Incremental shares from assumed conversions of options and restricted stock units	13	4
Incremental shares from assumed conversions of 8.5% trust preferred securities	534
Weighted average common and equivalent shares outstanding	17,851	14,477	11,355
Diluted earnings per common share (in dollars per share)	$ 2	$ 1.43	$ 1.18

EARNINGS PER SHARE (Parenthetic

EARNINGS PER SHARE (Parentheticals) (Details)	12 Months Ended
	Dec. 31, 2016
EARNINGS PER SHARE
Interest on trust preferred securities	8.50%

EARNINGS PER SHARE (Detail Text

EARNINGS PER SHARE (Detail Textuals) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stock options
Antidilutive securities
Securities not included in the computation of diluted earnings per share (in shares)			39,870
Convertible trust preferred securities
Antidilutive securities
Outstanding amount of securities not included in computation of diluted earnings per share		$ 16	$ 16
Outstanding amount of securities included in computation of diluted earnings per share	$ 15.7

COMMITMENTS AND CONTINGENCIE105

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Details) $ in Thousands	Dec. 31, 2016USD ($)
Projected minimum rentals under existing operating leases
2,017	$ 7,201
2,018	6,336
2,019	5,853
2,020	5,231
2,021	4,795
Thereafter	20,285
Total	$ 49,701

COMMITMENTS AND CONTINGENCIE106

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Details 1) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Commitments outstanding
Total commitments outstanding		$ 554,557	$ 479,560
Standby letters of credit
Commitments outstanding
Total commitments outstanding		21,507	14,930
Loan commitments outstanding
Commitments outstanding
Total commitments outstanding	[1]	66,779	46,034
Unused lines of credit
Commitments outstanding
Total commitments outstanding		$ 466,271	$ 418,596
[1]	Of the $66.8 million of loan commitments outstanding at December 31, 2016, $21.2 million are fixed rate commitments and $45.6 million are variable rate commitments. Of the $46.0 million of loan commitments outstanding at December 31, 2015, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments.

COMMITMENTS AND CONTINGENCIE107

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Parentheticals) (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments outstanding		$ 554,557	$ 479,560
Fixed rate loan commitments outstanding		21,200	13,100
Variable rate loan commitments outstanding		45,600	32,900
Loan commitments outstanding
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Total commitments outstanding	[1]	$ 66,779	$ 46,034
[1]	Of the $66.8 million of loan commitments outstanding at December 31, 2016, $21.2 million are fixed rate commitments and $45.6 million are variable rate commitments. Of the $46.0 million of loan commitments outstanding at December 31, 2015, $13.1 million are fixed rate commitments and $32.9 million are variable rate commitments.

COMMITMENTS AND CONTINGENCIE108

COMMITMENTS AND CONTINGENCIES AND OTHER MATTERS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies [Line Items]
Rental expenses under leases	$ 6,800	$ 5,300	$ 3,400
Federal funds purchased	100,000	$ 120,000
Bridgehampton National Bank
Commitments and Contingencies [Line Items]
Required cash balance with Federal Reserve Bank of New York	7,300
Average balance maintained	23,100
Federal funds purchased	100,000
Amount available for transactions under Master Repurchase Agreement	1,220,000
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	349,500
Lines of credit available on an unsecured basis	$ 329,500

ESTIMATED FAIR VALUE OF FINANCI

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets measured at fair value on recurring basis
Available for sale securities	$ 819,722	$ 800,203
U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	63,649	62,674
State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	116,165	87,935
U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	158,048	200,264
U.S. GSE residential collateralized mortgage Obligations
Assets measured at fair value on recurring basis
Available for sale securities	367,511	317,878
U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	6,307	12,418
U.S. GSE commercial collateralized mortgage Obligations
Assets measured at fair value on recurring basis
Available for sale securities	55,192	64,198
Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,553	22,371
Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	30,297	32,465
Carrying Value
Assets measured at fair value on recurring basis
Available for sale securities	819,722	800,203
Financial Assets: Derivatives	2,510	779
Recurring basis | Carrying Value
Assets measured at fair value on recurring basis
Available for sale securities	819,722	800,203
Financial Assets: Derivatives	2,510
Recurring basis | Carrying Value | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	63,649	62,674
Recurring basis | Carrying Value | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	116,165	87,935
Recurring basis | Carrying Value | U.S. GSE residential mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	158,048	200,264
Recurring basis | Carrying Value | U.S. GSE residential collateralized mortgage Obligations
Assets measured at fair value on recurring basis
Available for sale securities	367,511	317,878
Recurring basis | Carrying Value | U.S. GSE commercial mortgage-backed securities
Assets measured at fair value on recurring basis
Available for sale securities	6,307	12,418
Recurring basis | Carrying Value | U.S. GSE commercial collateralized mortgage Obligations
Assets measured at fair value on recurring basis
Available for sale securities	55,192	64,198
Recurring basis | Carrying Value | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,553	22,371
Recurring basis | Carrying Value | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	30,297	32,465
Recurring basis | Carrying Value | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives	2,510	779
Financial Liabilities:
Financial Liabilities: Derivatives	1,670	2,073
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	819,722	800,203
Financial Assets: Derivatives	2,510	779
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. GSE securities
Assets measured at fair value on recurring basis
Available for sale securities	63,649	62,674
Recurring basis | Significant Other Observable Inputs (Level 2) | State and municipal obligations
Assets measured at fair value on recurring basis
Available for sale securities	116,165	87,935
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	158,048	200,264
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	367,511	317,878
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	6,307	12,418
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	55,192	64,198
Recurring basis | Significant Other Observable Inputs (Level 2) | Other asset backed securities
Assets measured at fair value on recurring basis
Available for sale securities	22,553	22,371
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate bonds
Assets measured at fair value on recurring basis
Available for sale securities	30,297	32,465
Recurring basis | Significant Other Observable Inputs (Level 2) | Derivatives
Assets measured at fair value on recurring basis
Financial Assets: Derivatives	2,510	779
Financial Liabilities:
Financial Liabilities: Derivatives	1,670	2,073
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 FINA110

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets measured at fair value on non-recurring basis
Impaired loans	$ 60	$ 500
Non-recurring basis | Carrying Value
Assets measured at fair value on non-recurring basis
Impaired loans	64	483
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	$ 64	483
Other real estate owned		$ 250

ESTIMATED FAIR VALUE OF FINA111

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial assets:
Cash and due from banks	$ 102,280	$ 79,750
Interest bearing deposits with banks	11,558	24,808
Securities available for sale	819,722	800,203
Securities held to maturity	222,878	210,003
Accrued interest receivable	10,233	9,270
Financial liabilities:
Certificates of deposit	206,732
Junior subordinated debentures	15,244	15,878
Carrying Amount
Financial assets:
Cash and due from banks	102,280	79,750
Interest bearing deposits with banks	11,558	24,408
Securities available for sale	819,722	800,203
Securities restricted	34,743	24,788
Securities held to maturity	223,237	208,351
Loans, net	2,574,536	2,390,030
Derivatives	2,510	779
Accrued interest receivable	10,233	9,270
Financial liabilities:
Certificates of deposit	206,732	292,855
Demand and other deposits	2,719,277	2,550,770
Federal funds purchased	100,000	120,000
Federal Home Loan Bank advances	496,684	297,507
Repurchase agreements	674	50,891
Subordinated debentures	78,502	78,363
Junior subordinated debentures	15,244	15,878
Derivatives	1,670	2,073
Accrued interest payable	1,849	1,644
Fair Value
Financial assets:
Cash and due from banks	102,280	79,750
Interest bearing deposits with banks	11,558	24,408
Securities available for sale	819,722	800,203
Securities held to maturity	222,878	210,003
Loans, net	2,542,395	2,379,171
Derivatives	2,510	779
Accrued interest receivable	10,233	9,270
Financial liabilities:
Certificates of deposit	206,026	293,368
Demand and other deposits	2,719,277	2,550,770
Federal funds purchased	100,000	120,000
Federal Home Loan Bank advances	496,249	298,015
Repurchase agreements	674	51,480
Subordinated debentures	78,303	78,830
Junior subordinated debentures	15,258	16,566
Derivatives	1,670	2,073
Accrued interest payable	1,849	1,644
Level 1 | Fair Value
Financial assets:
Cash and due from banks	102,280	79,750
Interest bearing deposits with banks	11,558	24,408
Financial liabilities:
Demand and other deposits	2,719,277	2,550,770
Federal funds purchased	100,000	120,000
Federal Home Loan Bank advances	175,000
Accrued interest payable	87	93
Level 2 | Fair Value
Financial assets:
Securities available for sale	819,722	800,203
Securities held to maturity	222,878	210,003
Derivatives	2,510	779
Accrued interest receivable	3,480	3,228
Financial liabilities:
Certificates of deposit	206,026	293,368
Federal Home Loan Bank advances	321,249	298,015
Repurchase agreements	674	51,480
Derivatives	1,670	2,073
Accrued interest payable	316	329
Level 3 | Fair Value
Financial assets:
Loans, net	2,542,395	2,379,171
Accrued interest receivable	6,753	6,042
Financial liabilities:
Subordinated debentures	78,303	78,830
Junior subordinated debentures	15,258	16,566
Accrued interest payable	$ 1,446	$ 1,222

ESTIMATED FAIR VALUE OF FINA112

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
Impaired loans	$ 60	$ 500
Outstanding balance of impaired loans with an allowance recorded	66	512	$ 731
Valuation allowance on impaired loans	1	29	174
Additional provision for loan losses	$ 5,550	4,000	$ 2,200
Other real estate owned		$ 250

REGULATORY CAPITAL REQUIREME113

REGULATORY CAPITAL REQUIREMENTS (Details) - Basel III - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Common Equity Tier 1 Capital to Risk Weighted Assets:
Actual, Amount	$ 312,731	$ 249,921
Actual, Ratio (as a percent)	10.80%	9.30%
Minimum Capital Adequacy Requirement, Amount	$ 130,065	$ 121,074
Minimum Capital Adequacy Requirement, Ratio (as a percent)	4.50%	4.50%
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)
Total Capital (to risk weighted assets)
Actual, Amount	$ 434,184	$ 366,393
Actual, Ratio (as a percent)	15.00%	13.60%
For Capital Adequacy Purposes, Amount	$ 231,226	$ 215,243
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)
Tier 1 Capital (to risk weighted assets)
Actual, Amount	$ 328,004	$ 265,373
Actual, Ratio (as a percent)	11.30%	9.90%
For Capital Adequacy Purposes, Amount	$ 173,419	$ 161,432
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%	6.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)
Tier 1 Capital (to average assets)
Actual, Amount	$ 328,004	$ 265,373
Actual, Ratio (as a percent)	8.60%	7.60%
For Capital Adequacy Purposes, Amount	$ 152,391	$ 140,490
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)
Bank
Common Equity Tier 1 Capital to Risk Weighted Assets:
Actual, Amount	$ 378,352	$ 319,351
Actual, Ratio (as a percent)	13.10%	11.90%
Minimum Capital Adequacy Requirement, Amount	$ 130,054	$ 121,074
Minimum Capital Adequacy Requirement, Ratio (as a percent)	4.50%	4.50%
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 187,856	$ 174,884
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	6.50%	6.50%
Total Capital (to risk weighted assets)
Actual, Amount	$ 404,532	$ 340,371
Actual, Ratio (as a percent)	14.00%	12.70%
For Capital Adequacy Purposes, Amount	$ 231,208	$ 215,242
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 289,010	$ 269,053
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	10.00%	10.00%
Tier 1 Capital (to risk weighted assets)
Actual, Amount	$ 378,352	$ 319,351
Actual, Ratio (as a percent)	13.10%	11.90%
For Capital Adequacy Purposes, Amount	$ 173,406	$ 161,432
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%	6.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 231,208	$ 215,242
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	8.00%	8.00%
Tier 1 Capital (to average assets)
Actual, Amount	$ 378,352	$ 319,351
Actual, Ratio (as a percent)	9.90%	9.10%
For Capital Adequacy Purposes, Amount	$ 152,382	$ 140,492
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 190,478	$ 175,615
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	5.00%	5.00%

PARENT COMPANY ONLY CONDENSE114

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 113,838	$ 104,558	$ 51,730	$ 45,573
Other assets	38,911	38,732
Total Assets	4,054,570	3,781,959
LIABILITIES AND STOCKHOLDERS' EQUITY
Subordinated debentures	78,502	78,363
Junior subordinated debentures	15,244	15,878
Total Liabilities	3,646,583	3,440,831
Total Stockholders' Equity	407,987	341,128	175,118	159,460
Total Liabilities and Stockholders' Equity	4,054,570	3,781,959
Parent Company
ASSETS
Cash and cash equivalents	29,049	25,475	$ 610	$ 37,364
Other assets	228	16
Investment in the Bank	474,035	411,106
Total Assets	503,312	436,597
LIABILITIES AND STOCKHOLDERS' EQUITY
Subordinated debentures	78,502	78,363
Junior subordinated debentures	15,244	15,878
Other liabilities	1,579	1,228
Total Liabilities	95,325	95,469
Total Stockholders' Equity	407,987	341,128
Total Liabilities and Stockholders' Equity	$ 503,312	$ 436,597

PARENT COMPANY ONLY CONDENSE115

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details 1) - USD ($) $ in Thousands	3 Months Ended														12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed financial information
Interest expense															$ 16,845	$ 10,129	$ 7,460
Non-interest expense															77,081	72,890	52,414
Income tax benefit															18,795	10,778	7,239
Net income															35,491	21,111	13,763
Parent Company
Condensed financial information
Dividends from the Bank															14,800	10,000
Interest expense	$ 4,450		$ 4,077	$ 4,143	$ 4,175		$ 3,705		$ 2,659		$ 1,953		$ 1,812		5,903	2,626	1,365
Non-interest expense	18,529	[1]	19,204	20,441	18,907	[2]	18,173	[3]	19,373	[4]	22,034	[5]	13,310	[6]	260	73	86
Income (loss) before income taxes and equity in undistributed earnings of the Bank															8,637	7,301	(1,451)
Income tax benefit	4,824		4,663	4,664	4,644		4,147		4,248		(243)		2,626		(2,126)	(933)	(463)
Income (loss) before equity in undistributed earnings of the Bank															10,763	8,234	(988)
Equity in undistributed earnings of the Bank															24,728	12,877	14,751
Net income	$ 9,160		$ 8,851	$ 8,854	$ 8,626		$ 7,995		$ 7,890		$ 463		$ 4,763		$ 35,491	$ 21,111	$ 13,763
[1]	2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.7 million.
[2]	2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.3 million.
[3]	2015 amount includes costs associated with the CNB acquisition of $0.5 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 $8.2 million.
[6]	2015 amount includes costs associated with the CNB acquisition of $0.2 million.

PARENT COMPANY ONLY CONDENSE116

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income									$ 35,491	$ 21,111	$ 13,763
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Increase) decrease in other assets									(8,331)	6,815	(5,783)
Increase (decrease) in other liabilities									(6,476)	10,799	(1,417)
Net cash provided by (used in) operating activities									44,236	31,526	25,811
Cash flows from investing activities:
Cash in lieu of fractional shares for business acquisition										24,628	2,926
Net cash used in investing activities									(279,545)	(451,572)	(170,548)
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									48,442	779	631
Net proceeds from exercise of stock options									62	80	7
Repurchase of surrendered stock from vesting of restricted stock awards									(344)	(228)	(173)
Excess tax benefit from share based compensation										50	36
Cash dividends paid									(16,140)	(13,415)	(10,657)
Other, net										(303)	(192)
Net cash provided by financing activities									244,589	472,874	150,894
Net increase in cash and cash equivalents									9,280	52,828	6,157
Cash and cash equivalents at beginning of period				$ 104,558				$ 51,730	104,558	51,730	45,573
Cash and cash equivalents at end of period	$ 113,838				$ 104,558				113,838	104,558	51,730
Parent Company
Cash flows from operating activities:
Net income	9,160	$ 8,851	$ 8,854	8,626	7,995	$ 7,890	$ 463	4,763	35,491	21,111	13,763
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed earnings of the Bank									(24,728)	(12,877)	(14,751)
Amortization									152	44	5
(Increase) decrease in other assets									(212)	72	76
Increase (decrease) in other liabilities									351	1,228	(48)
Net cash provided by (used in) operating activities									11,054	9,578	(955)
Cash flows from investing activities:
Investment in the Bank									(39,500)	(50,000)	(24,000)
Cash in lieu of fractional shares for business acquisition											(1)
Net cash used in investing activities									(39,500)	(50,000)	(24,001)
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									48,442	779	631
Net proceeds from exercise of stock options									62	80	7
Repurchase of surrendered stock from vesting of restricted stock awards									(344)	(228)	(173)
Excess tax benefit from share based compensation										50	36
Cash dividends paid									(16,140)	(13,415)	(10,657)
Other, net										(303)	(192)
Net cash provided by financing activities									32,020	65,287	(11,798)
Net increase in cash and cash equivalents									3,574	24,865	(36,754)
Cash and cash equivalents at beginning of period				$ 25,475				$ 610	25,475	610	37,364
Cash and cash equivalents at end of period	$ 29,049				$ 25,475				$ 29,049	$ 25,475	$ 610

OTHER COMPREHENSIVE INCOME (117

OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized holding (losses) gains on available for sale securities	$ (6,428)	$ (2,489)	$ 13,315
Reclassification adjustment for (gains) losses realized in income	(449)	8	1,090
Income tax effect	2,795	1,047	(5,718)
Net change in unrealized (losses) gains on available for sale securities	(4,082)	(1,434)	8,687
Unrealized net (loss) gain arising during the period	(1,452)	196	(5,529)
Reclassification adjustment for amortization realized in income	384	358	(23)
Income tax effect	438	(174)	2,204
Net change in post-retirement obligation	(630)	380	(3,348)
Change in fair value of derivatives used for cash flow hedges	1,191	(1,008)	(1,249)
Reclassification adjustment for losses realized in income	944	657	470
Income tax effect	(865)	150	309
Net change in unrealized gain (loss) on cash flow hedges	1,270	(201)	(470)
Other comprehensive (loss) income	$ (3,442)	$ (1,255)	$ 4,869

OTHER COMPREHENSIVE INCOME (118

OTHER COMPREHENSIVE INCOME (LOSS) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Unrealized (losses) gains on available for sale securities
Balance at the beginning of the period	$ (4,741)
Current Period Change	(4,082)	$ (1,434)	$ 8,687
Balance at the end of the period	(8,823)	(4,741)
Unrealized (losses) gains on pension benefits
Balance at the beginning of the period	(4,111)
Current Period Change	(630)	380	(3,348)
Balance at the end of the period	(4,741)	(4,111)
Unrealized (losses) gains on cash flow hedges
Balance at the beginning of the period	(770)
Current Period Change	1,270	(201)	(470)
Balance at the end of the period	500	(770)
Total
Balance at the beginning of the period	(9,622)
Current Period Change	(3,442)	(1,255)	$ 4,869
Balance at the end of the period	$ (13,064)	$ (9,622)

OTHER COMPREHENSIVE INCOME (119

OTHER COMPREHENSIVE INCOME (LOSS) (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	$ 449	$ (8)	$ (1,090)
Income before income taxes	54,286	31,889	21,002
Income tax effect	(18,795)	(10,778)	(7,239)
Net income	35,491	21,111	13,763
Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Income before income taxes	(879)	(1,023)	(1,537)
Income tax effect	356	414	611
Net income	(523)	(609)	(926)
Net securities gains (losses) | Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	449	(8)	(1,090)
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	(28)	(27)	(27)
Amortization of net loss	(433)	(408)	(27)
Realized losses on cash flow hedges | Amount Reclassified from Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Realized (losses) gains on sale of available for sale securities	$ (944)	$ (657)	$ (470)

QUARTERLY FINANCIAL DATA (UN120

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended														12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest income															$ 137,716	$ 106,240	$ 74,910
Interest expense															16,845	10,129	7,460
Net interest income															120,871	96,111	67,450
Provision for loan losses															5,550	4,000	2,200
Net interest income after provision for loan losses															115,321	92,111	65,250
Non-interest income															16,046	12,668	8,166
Non-interest expenses															77,081	72,890	52,414
Income before income taxes															54,286	31,889	21,002
Income tax expense															18,795	10,778	7,239
Net Income															$ 35,491	$ 21,111	$ 13,763
Basic earnings per share (in dollars per share)															$ 2.01	$ 1.43	$ 1.18
Diluted earnings per share (in dollars per share)															$ 2	$ 1.43	$ 1.18
Parent Company
Interest income	$ 34,615		$ 34,761	$ 34,733	$ 33,607		$ 31,609		$ 31,744		$ 22,380		$ 20,507
Interest expense	4,450		4,077	4,143	4,175		3,705		2,659		1,953		1,812		$ 5,903	$ 2,626	$ 1,365
Net interest income	30,165		30,684	30,590	29,432		27,904		29,085		20,427		18,695
Provision for loan losses	1,400		2,000	900	1,250		1,000		1,500		700		800
Net interest income after provision for loan losses	28,765		28,684	29,690	28,182		26,904		27,585		19,727		17,895
Non-interest income	3,748		4,034	4,269	3,995		3,411		3,926		2,527		2,804
Non-interest expenses	18,529	[1]	19,204	20,441	18,907	[2]	18,173	[3]	19,373	[4]	22,034	[5]	13,310	[6]	260	73	86
Income before income taxes	13,984		13,514	13,518	13,270		12,142		12,138		220		7,389
Income tax expense	4,824		4,663	4,664	4,644		4,147		4,248		(243)		2,626		(2,126)	(933)	(463)
Net Income	$ 9,160		$ 8,851	$ 8,854	$ 8,626		$ 7,995		$ 7,890		$ 463		$ 4,763		$ 35,491	$ 21,111	$ 13,763
Basic earnings per share (in dollars per share)	$ 0.5		$ 0.5	$ 0.51	$ 0.49		$ 0.46		$ 0.45		$ 0.04		$ 0.41
Diluted earnings per share (in dollars per share)	$ 0.5		$ 0.5	$ 0.5	$ 0.49		$ 0.46		$ 0.45		$ 0.04		$ 0.41
[1]	2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.7 million.
[2]	2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.3 million.
[3]	2015 amount includes costs associated with the CNB acquisition of $0.5 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 $8.2 million.
[6]	2015 amount includes costs associated with the CNB acquisition of $0.2 million.

QUARTERLY FINANCIAL DATA (UN121

QUARTERLY FINANCIAL DATA (UNAUDITED) (Parentheticals) (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
CNB and FNBNY
Costs associated with acquisition	$ (0.7)	$ (0.3)
CNB
Costs associated with acquisition			$ 0.5	$ 0.9	$ 8.2	$ 0.2

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands		1 Months Ended
		Jun. 19, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill Recorded on Acquisition			$ 105,950	$ 98,445	$ 9,450
CNB
Business Acquisition [Line Items]
Cash and due from banks		$ 24,628
Securities		90,109
Loans		729,413
Bank Owned Life Insurance		21,445
Premises and equipment		1,276
Other intangible assets		6,698
Other assets		21,729
Total Assets Acquired		895,298
Deposits		786,853
Federal Home Loan Bank term advances		35,581
Other liabilities and accrued expenses		11,861
Total Liabilities Assumed		834,295
Net Assets Acquired		61,003
Consideration Paid		157,503
Goodwill Recorded on Acquisition		96,500
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	[1]
Securities	[1]
Loans	[1]	(6,935)
Bank Owned Life Insurance	[1]
Premises and equipment	[1]	(5,122)
Other intangible assets	[1]
Other assets	[1]	7,245
Total Assets Acquired	[1]	(4,812)
Deposits	[1]
Federal Home Loan Bank term advances	[1]
Other liabilities and accrued expenses	[1]	6,214
Total Liabilities Assumed	[1]	6,214
Net Assets Acquired	[1]	(11,026)
Consideration Paid	[1]
Goodwill Recorded on Acquisition	[1]	$ 11,026
[1]	Explanation of measurement period adjustments: Loans – represents adjustments to the initial fair values related to certain purchased credit impaired loans based on the finalization of the initial provisional analyses. Premises and equipment – represents write down to estimated fair value based on the final valuation performed on leasehold improvements. Other assets – represents adjustments to the net deferred tax asset resulting from the adjustments to the initial fair values related to acquired assets and liabilities assumed. Other liabilities and accrued expenses - represents adjustments to the initial fair values reported to adjust other liabilities to estimated fair value and record certain liabilities directly related to the CNB acquisition.

BUSINESS COMBINATIONS (Detail T

BUSINESS COMBINATIONS (Detail Textuals) shares in Thousands, $ in Thousands	1 Months Ended
	Jun. 19, 2015USD ($)Branchshares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Goodwill		$ 105,950	$ 98,445	$ 9,450
CNB
Business Acquisition [Line Items]
Purchase price	$ 157,503
Aggregate shares issued in exchange for issued and outstanding common stock | shares	5,647
Goodwill	$ 96,500
Number of branches | Branch	40