CONNECTONE BANCORP, INC., 10-K filed on 3/4/2016
Annual Report
v3.3.1.900
Document And Entity Information - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Mar. 04, 2016
Jun. 30, 2015
Document and Entity Information [Abstract]      
Entity Registrant Name ConnectOne Bancorp, Inc.    
Document Type 10-K    
Current Fiscal Year End Date --12-31    
Entity Common Stock, Shares Outstanding   30,091,367  
Entity Public Float     $ 607.1
Amendment Flag false    
Entity Central Index Key 0000712771    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Accelerated Filer    
Entity Well-known Seasoned Issuer No    
Document Period End Date Dec. 31, 2015    
Document Fiscal Year Focus 2015    
Document Fiscal Period Focus FY    
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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and due from banks $ 31,291 $ 31,813
Interest-bearing deposits with banks 169,604 95,034
Cash and due from banks 200,895 126,847
Investment securities:    
Securities available-for-sale 195,770 289,532
Securities held-to-maturity (fair value of $230,558 and $231,445) 224,056 224,682
Loans receivable 3,099,007 2,538,641
Less: Allowance for loan and lease losses 26,572 14,160
Net loans receivable 3,072,435 2,524,481
Investment in restricted stock, at cost 32,612 23,535
Bank premises and equipment, net 22,333 20,653
Accrued interest receivable 12,545 11,700
Bank-owned life insurance 78,801 52,518
Other real estate owned 2,549 1,108
Goodwill 145,909 145,909
Core deposit intangibles 3,908 4,825
Other assets 24,908 22,782
Total assets 4,016,721 3,448,572
Deposits:    
Noninterest-bearing 650,775 492,516
Interest-bearing 2,140,191 1,983,091
Total deposits 2,790,966 2,475,607
Borrowings 671,587 495,553
Subordinated debentures 55,155 5,155
Accounts payable and accrued liabilities 21,669 26,038
Total liabilities $ 3,539,377 $ 3,002,353
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred Stock, $1,000 liquidation value per share: Authorized 5,000,000 shares; issued and outstanding 11,250 shares of Series B preferred stock at December 31, 2015 and 2014; total liquidation value of $11,250 at December 31, 2015 and 2014 $ 11,250 $ 11,250
Common stock, no par value: Authorized 50,000,000 shares; issued 32,149,585 shares at December 31, 2015 and 31,758,828 shares at December 31, 2014; outstanding 30,085,663 shares at December 31, 2015 and 29,694,906 at December 31, 2014 374,287 374,287
Additional paid-in capital 8,527 6,015
Retained earnings 104,606 72,398
Treasury stock, at cost (2,063,922 shares at December 31, 2015 and December 31, 2014) (16,717) (16,717)
Accumulated other comprehensive loss (4,609) (1,014)
Total stockholders' equity 477,344 446,219
Total liabilities and stockholders' equity $ 4,016,721 $ 3,448,572
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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Held-to-maturity, fair value (in Dollars) $ 230,558 $ 231,445
Preferred stock, liquidation value (in Dollars per share) $ 1,000 $ 1,000
Preferred stock, shares authorized 5,000,000 5,000,000
Preferred Stock, total liquidation value (in Dollars) $ 11,250 $ 11,250
Common stock, shares authorized 50,000,000 50,000,000
Common stock, shares issued 32,149,585 31,758,828
Common stock, shares outstanding 30,085,663 29,694,906
Treasury Stock, Shares 2,063,922 2,063,922
Series B Preferred Stock [Member]    
Preferred stock, shares issued 11,250 11,250
Preferred stock, shares outstanding 11,250 11,250
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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income:      
Interest and fees on loans $ 125,493 $ 77,669 $ 40,132
Interest and dividends on investment securities:      
Taxable 10,665 12,024 12,189
Nontaxable 3,550 3,740 4,422
Dividends 1,081 636 523
Interest on federal funds sold and other short-term investment 178 138 2
Total interest income 140,967 94,207 57,268
Interest expense:      
Deposits 13,756 8,260 5,219
Borrowings 10,058 6,548 5,863
Total interest expense 23,814 14,808 11,082
Net interest income 117,153 79,399 46,186
Provision for loan and lease losses 12,605 4,683 350
Net interest income after provision for loan and lease losses 104,548 74,716 45,836
Noninterest income:      
Annuity and insurance 242 382 489
Bank-owned life insurance commissions 1,782 1,303 1,364
Net gains on sale of loans held for sale 327 182 294
Deposit, loan and other income 2,667 $ 2,813 $ 2,993
Insurance recovery $ 2,224
Total other-than-temporary impairment losses $ (652)
Net gains on sale of investment securities $ 3,931 $ 2,818 2,363
Net investment securities gains 3,931 2,818 1,711
Total noninterest income 11,173 7,498 6,851
Noninterest expense:      
Salaries and employee benefits 27,685 18,829 13,465
Occupancy and equipment 7,587 5,312 3,518
FDIC insurance 2,110 1,618 1,098
Professional and consulting 2,951 1,661 1,111
Marketing and advertising 847 498 304
Data processing $ 3,703 2,575 $ 1,422
Merger-related expenses 12,388
Loss on extinguishment of debt $ 2,397 4,550
Amortization of core deposit intangible $ 917 506 $ 30
Charge due to wire fraud 2,374
Other expenses $ 6,287 4,493 $ 4,330
Total noninterest expenses 54,484 54,804 25,278
Income before income tax expense 61,237 27,410 27,409
Income tax expense 19,926 8,845 7,484
Net income 41,311 18,565 19,925
Less: Preferred stock dividends 112 112 141
Net income available to common stockholders $ 41,199 $ 18,453 $ 19,784
Earnings per common share:      
Basic (in Dollars per share) $ 1.38 $ 0.80 $ 1.21
Diluted (in Dollars per share) $ 1.36 $ 0.79 $ 1.21
Weighted average common shares outstanding:      
Basic (in Shares) 29,938,458 23,029,813 16,349,204
Diluted (in Shares) 30,283,966 23,479,074 16,385,692
Dividend per common share (in Dollars per share) $ 0.3 $ 0.3 $ 0.28
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Statement of Comprehensive Income [Abstract]      
Net income $ 41,311 $ 18,565 $ 19,925
Unrealized gains and losses on securities available-for-sale:      
Unrealized holding (losses) gains on available for sale securities (2,991) 6,966 (8,741)
Tax effect 1,196 (2,635) 3,578
Net of tax amount $ (1,795) $ 4,331 (5,163)
Reclassification adjustments for OTTI losses included in income 652
Tax effect (178)
Net of tax amount 474
Reclassification adjustment for realized gains arising during this period $ (3,931) $ (2,818) (2,363)
Tax effect 1,564 986 645
Net of tax amount $ (2,367) $ (1,832) (1,718)
Unrealized holding losses on securities transferred from available-for-sale to held-to-maturity securities (2,612)
Tax effect 1,064
Net of tax amount (1,548)
Amortization of net unrealized holding losses (gains) on securities transferred from available-for-sale to held-to-maturity securities $ 220 $ 215 (58)
Tax effect (90) (91) 19
Net of tax amount 130 124 $ (39)
Unrealized holding (loss) gain on cash flow hedge (179) 48
Tax effect 73 (20)
Net of tax amount (106) 28
Pension plan:      
Actuarial gains (losses) 918 (1,896) $ 654
Tax effect (375) 775 (267)
Net of tax amount 543 (1,121) 387
Total other comprehensive (loss) income (3,595) 1,530 (7,607)
Total comprehensive income $ 37,716 $ 20,095 $ 12,318
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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Preferred Stock
Common Stock
Additional Paid In Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Total
Balance at Dec. 31, 2012 $ 11,250 $ 110,056 $ 4,801 $ 46,753 $ (17,232) $ 5,063 $ 160,691
Net income $ 19,925 19,925
Other comprehensive income (loss), net of tax $ (7,607) (7,607)
Dividend on series B preferred stock $ (169) (169)
Issuance cost of common stock (13) (13)
Cash dividends declared on common stock ($0.280 per share) (4,581) (4,581)
Dividend on restricted stock declared $ (1) (1)
Issuance of restricted stock award (18,829 shares) $ 91 $ 152 243
Exercise of stock options (2,268 shares) 19 $ 2 21
Stock-based compensation expense 75 75
Balance at Dec. 31, 2013 $ 11,250 $ 110,056 $ 4,986 $ 61,914 $ (17,078) $ (2,544) 168,584
Net income 18,565 18,565
Other comprehensive income (loss), net of tax           $ 1,530 1,530
Dividend on series B preferred stock (112) (112)
Issuance cost of common stock (7) (7)
Cash dividends declared on common stock ($0.280 per share) $ (7,962) (7,962)
Exercise of stock options (2,268 shares) $ 806 $ 361 1,167
Stock issued (13,221,152 shares) and options acquired (783,732 shares) in acquisition of Legacy ConnectOne $ 264,231 264,231
Stock-based compensation expense $ 223 223
Balance at Dec. 31, 2014 $ 11,250 $ 374,287 $ 6,015 $ 72,398 $ (16,717) $ (1,014) 446,219
Net income $ 41,311 41,311
Other comprehensive income (loss), net of tax $ (3,595) (3,595)
Dividend on series B preferred stock $ (112) (112)
Cash dividends declared on common stock ($0.280 per share) $ (8,991) (8,991)
Exercise of stock options (2,268 shares) $ 1,765 1,765
Stock-based compensation expense   747     747
Balance at Dec. 31, 2015 $ 11,250 $ 374,287 $ 8,527 $ 104,606 $ (16,717) $ (4,609) $ 477,344
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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]      
Cash dividends declared on common stock (in Dollars per share) $ 0.28 $ 0.3 $ 0.3
Issuance of restricted stock awards, shares     18,829
Exercise of stock options, shares 340,492 100,911 2,268
Stock issued in acquisition   13,221,152  
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 41,311 $ 18,565 $ 19,925
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and amortization 3,226 2,045 886
Provision for loan and lease losses 12,605 4,683 350
Net deferred income tax (benefit) expense (3,493) 184 1,739
Stock-based compensation expense $ 747 $ 223 59
Net other-than-temporary impairment losses 652
Net gains on sales of available-for-sale securities $ (3,931) $ (2,818) (2,363)
Net gains on sales of loans held for sale (327) (261) (294)
Net loans originated for sale (20,834) (10,994) (14,816)
Proceeds from sales of loans held for sale $ 21,161 $ 11,445 16,601
Net gains on disposition of premises and equipment (2)
Net loss on sales of other real estate owned $ 164 $ 23 75
Life insurance death benefit (291)
Increase in cash surrender value of bank owned life insurance $ (1,782) $ (1,303) $ (1,073)
Loss on extinguishment of debt 2,397 4,550
Net amortization of securities 1,793 2,074 $ 3,316
Increase in accrued interest receivable (845) (428) (233)
Decrease in other assets 1,190 2,200 414
(Decrease) increase in other liabilities (1,080) 377 (1,792)
Net cash provided by operating activities 52,302 30,565 23,153
Investment securities available-for-sale:      
Purchases (37,403) (37,886) (155,464)
Sales 65,231 80,449 122,165
Maturities, calls and principal repayment 62,007 33,496 46,378
Investment securities held-to-maturity:      
Purchases (17,531) (20,860) (23,531)
Maturities and principal repayment 17,520 10,766 3,830
Net purchase of restricted investment in bank stock (9,077) (903) (22)
Net increase in loans (562,933) (279,270) (71,761)
Purchases of premises and equipment (3,989) $ (2,037) $ (973)
Purchase of bank-owned life insurance $ (24,501)
Proceeds from life insurance death benefits $ 592
Proceeds from sale of premises and equipment 2
Proceeds from sale of other real estate owned $ 769 $ 1,544 $ 1,230
Cash and cash equivalent acquired in acquisition 70,318
Net cash used in investing activities $ (509,907) (144,383) $ (77,554)
Cash flows from financing activities:      
Net increase in deposits 315,359 $ 82,260 $ 35,083
Increase in subordinated debentures 50,000
Advances of FHLB borrowings 848,875 $ 161,183
Repayments of FHLB borrowings (656,841) $ (79,550)
Repayment of purchase agreement (18,397)
Cash dividends on common stock (8,996) $ (6,940) $ (4,254)
Cash dividends on preferred stock $ (112) (140) (141)
Issuance cost of common stock (7) (13)
Tax benefit from exercise of stock options $ 341 $ 282 16
Issuance of restricted stock award 243
Proceeds from exercise of stock options $ 1,424 $ 885 21
Net cash provided by financing activities 531,653 157,973 30,955
Net (decrease) increase in cash and cash equivalents 74,048 44,155 (23,446)
Cash and cash equivalents at beginning of year 126,847 82,692 106,138
Cash and cash equivalents at end of year 200,895 126,847 82,692
Cash paid during year for:      
Interest paid on deposits and borrowings 23,357 14,785 10,993
Income taxes $ 17,880 $ 4,993 4,727
Investing:      
Trade date accounting settlement for investments 8,759
Transfer of loans to other real estate owned $ 2,374 $ 352 236
Transfer from investment securities available-for-sale to investment securities held-to-maturity 138,800
Financing:      
Dividends declared, not paid $ 2,258 $ 2,250 $ 1,256
Noncash assets acquired:      
Investment securities 28,452
Restricted investments 13,646
Loans held for sale 190
Loans 1,299,284
Accrued interest receivable 4,470
Premises and equipment, net 6,475
Goodwill 129,105
Core deposit intangible 5,308
Bank-owned life insurance 15,481
Other real estate owned 2,455
Other assets 14,286
Total noncash assets acquired 1,519,152
Noncash liabilities assumed:      
Deposits 1,051,342
Borrowings 263,370
Other liabilities 10,527
Total noncash liabilities assumed 1,325,239
Net noncash assets acquired $ 193,913
Bargain gain on acquisition
Net cash and cash equivalents acquired $ 70,318
Cash consideration paid in acquisition
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Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Summary of Significant Accounting Policies

Note 1 - Summary of Significant Accounting Policies

 

Principles of Consolidation

 

The consolidated financial statements of ConnectOne Bancorp, Inc. (the “Parent Corporation”) are prepared on an accrual basis and include the accounts of the Parent Corporation and its wholly-owned subsidiary, ConnectOne Bank (the “Bank” and, collectively with the Parent Corporation and the Parent Corporation’s other direct and indirect subsidiaries, the “Company”). All significant intercompany accounts and transactions have been eliminated from the accompanying consolidated financial statements.

 

Business

 

The Bank is a community-based, full-service New Jersey-chartered commercial bank that was founded in 2005. The Bank operates from its headquarters located at 301 Sylvan Avenue in the Borough of Englewood Cliffs, Bergen County, New Jersey, through its twenty-one other banking offices. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from business operations. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the cash flows, real estate and general economic conditions in the area. 

 

Segments

 

FASB ASC 28, “Segment Reporting,” requires companies to report certain information about operating segments. The Company is managed as one segment; a community bank. All decisions including but not limited to loan growth, deposit funding, interest rate risk, credit risk and pricing are determined after assessing the effect on the totality of the organization. For example, loan growth is dependent on the ability of the organization to fund this growth through deposits or other borrowings. As a result, the Company is managed as one operating segment.

 

 

Basis of Financial Statement Presentation

 

The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles.

 

Use of Estimates

 

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statement of financial condition and revenues and expenses for the reported periods. These estimates and assumptions affect the amounts reported in the financial statements and the disclosure provided, and actual results could differ.

 

Cash and Cash Equivalents

 

Cash and cash equivalents include cash, deposits with other financial institutions with maturities of less than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, and federal funds purchased and repurchase agreements.

 

Investment Securities

 

The Company accounts for its investment securities in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320-10-05. Investments are classified into the following categories: (1) held to maturity securities, for which the Company has both the positive intent and ability to hold until maturity, which are reported at amortized cost; (2) trading securities, which are purchased and held principally for the purpose of selling in the near term and are reported at fair value with unrealized gains and losses included in earnings; and (3) available-for-sale securities, which do not meet the criteria of the other two categories and which management believes may be sold prior to maturity due to changes in interest rates, prepayment, risk, liquidity or other factors, and are reported at fair value, with unrealized gains and losses, net of applicable income taxes, reported as a component of accumulated other comprehensive income, which is included in stockholders’ equity and excluded from earnings.

 

Investment securities are adjusted for amortization of premiums and accretion of discounts as adjustments to interest income, which are recognized on a level yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Investment securities gains or losses are determined using the specific identification method.

 

Securities are evaluated on at least a quarterly basis, and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. FASB ASC 320-10-65 clarifies the interaction of the factors that should be considered when determining whether a debt security is other-than-temporarily impaired. For debt securities, management must assess whether (a) it has the intent to sell the security and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. These steps are done before assessing whether the entity will recover the cost basis of the investment. In instances when a determination is made that an other-than-temporary impairment exists but the investor does not intend to sell the debt security and it is not more likely than not that it will be required to sell the debt security prior to its anticipated recovery, FASB ASC 320-10-65 changed the presentation and amount of the other-than-temporary impairment recognized in the statement of income. The other-than-temporary impairment is separated into (a) the amount of the total other-than-temporary impairment related to a decrease in cash flows expected to be collected from the debt security (the credit loss) and (b) the amount of the total other-than-temporary impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized through earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized through other comprehensive income. Other-than-temporary charges of $0.7 million were recognized in 2013. There were no impairment charges recognized in 2014 and 2015.

 

Loans Held for Sale

 

Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or estimated fair value as determined by outstanding commitments from investors. For loans carried at the lower of cost or estimated fair value, gains and losses on loan sales (sale proceeds minus carrying value) are recorded in other income and direct loan origination costs and fees are deferred at origination of the loan and are recognized in other income upon sale of the loan.

 

Loans

 

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, and an allowance for loan and lease losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

 

Loan segments are defined as a group of loans and leases, which share similar initial measurement attributes, risk characteristics, and methods for monitoring and assessing credit risk. Management has determined that the Company has five segments of loans and leases: commercial (including lease financing), commercial real estate, commercial construction, residential real estate (including home equity) and consumer.  

 

Interest income on commercial, commercial real estate, commercial construction and residential loans are discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. A loan is moved to nonaccrual status in accordance with the Company’s policy, typically after 90 days of non-payment.

 

All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

The policy of the Company is to generally grant commercial, residential and consumer loans to New Jersey residents and businesses within its market area. The borrowers’ abilities to repay their obligations are dependent upon various factors including the borrowers’ income and net worth, cash flows generated by the borrowers’ underlying collateral, value of the underlying collateral, and priority of the lender’s lien on the property. Such factors are dependent upon various economic conditions and individual circumstances beyond the control of the Company. The Company is therefore subject to risk of loss. The Company believes its lending policies and procedures adequately minimize the potential exposure to such risks and that adequate provisions for loan losses are provided for all known and inherent risks. Collateral and/or personal guarantees are required for a large majority of the Company’s loans.

 

Allowance for Loan and Lease Loss

 

The allowance for loan and lease losses is a valuation allowance for probable incurred credit losses. Loan and lease losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired.

 

A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”) and classified as impaired. As part of the evaluation of impaired loans, the Company individually reviews for impairment all non-homogeneous loans internally classified as substandard or below. Generally, smaller impaired non-homogeneous loans and impaired homogeneous loans are collectively evaluated for impairment.

 

The Bank has defined its population of impaired loans to include all loans on nonaccrual status; all troubled debt restructuring loans; and all loans (above an established dollar threshold of $250,000) internally classified as “Special Mention” or below that require a specific reserve.

 

Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.

 

Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan and lease losses.

 

The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience, the primary factor, is determined by loan segment and is based on the actual loss history experienced by the Bank over an actual three year rolling calculation. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. This actual loss experience is supplemented with the exogenous factor adjustments based on the risks present for each loan categories. These exogenous factors (nine total) include consideration of the following: concentrations of credit; delinquency & nonaccrual trends; economic & business conditions including evaluation of the national and regional economies and industries with significant loan concentrations; external factors including legal, regulatory or competitive pressures that may impact the loan portfolio; changes in the experience, ability, or size of the lending staff, management, or board of directors that may impact the loan portfolio; changes in underwriting standards, collection procedures, charge-off practices, or other changes in lending policies and procedures that may impact the loan portfolio; loss and recovery trends; changes in portfolio size and mix; and trends in problem loans.

 

Purchased Credit-Impaired Loans

 

The Company purchases groups of loans in conjunction with mergers, some of which have shown evidence of credit deterioration since origination. These purchased credit impaired loans are recorded at the amount paid, such that there is no carryover of the seller’s allowance for loan and lease losses. After acquisition, losses are recognized by an increase in the allowance for loan and lease losses.

 

Such purchased credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). 

 

Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income.

 

Derivatives

 

The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income.

 

Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged.

 

The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended.

 

When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. 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 which the hedged transactions will affect earnings.

 

Restricted Stock

The Bank is a member of the Federal Home Loan Bank (“FHLB”) of New York. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Cash dividends on the stock are reported as income.

 

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

 

Premises and Equipment

 

Land is carried at cost and premises and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from 4 to 39 years. Furniture, fixtures and equipment are depreciated using the straight-line (or accelerated) method with useful lives ranging from 3 to 10 years. 

 

Other Real Estate Owned

 

Other real estate owned (“OREO”), representing property acquired through foreclosure and held for sale, is initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequently, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Costs relating to holding the assets are charged to expenses.

 

 Employee Benefit Plans

 

The Company had a noncontributory pension plan that covered all eligible employees up until September 30, 2007, at which time the Company froze its defined benefit pension plan. As such, all future benefit accruals in this pension plan were discontinued and all retirement benefits that employees would have earned as of September 30, 2007 were preserved. The Company’s policy is to fund at least the minimum contribution required by the Employee Retirement Income Security Act of 1974. The costs associated with the plan are accrued based on actuarial assumptions and included in other expense.

 

The Company accounts for its defined benefit pension plan in accordance with FASB ASC 715-30. FASB ASC 715-30 requires that the funded status of defined benefit postretirement plans be recognized on the Company’s statement of financial condition and changes in the funded status be reflected in other comprehensive income. FASB ASC 715-30 also requires companies to measure the funded status of the plan as of the date of its fiscal year-end. Employee 401 (k) and profit sharing plan expense is the amount of matching contributions.

 

Stock-Based Compensation

 

Stock compensation accounting guidance (FASB ASC 718, “Compensation-Stock Compensation”) requires that the compensation cost related to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans.

 

Stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. See Note 19 of the Notes to Consolidated Financial Statements for a further discussion.

 

Earnings per Share

 

Basic Earnings per Share (“EPS”) is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g. stock options). The Company’s weighted average common shares outstanding for diluted EPS include the effect of stock options outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS.

Earnings per common share have been computed based on the following:

    Years Ended December 31,
    2015   2014   2013
    (In thousands, Except per Share Amounts)
Net income   $        41,311   $      18,565   $        19,925
Preferred stock dividends     112     112     141
Net income available to common stockholders   $ 41,199   $ 18,453   $ 19,784
Average number of common shares outstanding     29,938     23,030     16,349
       Effect of dilutive options     346     449     37
Average number of common shares outstanding used to                  
       calculate diluted earnings per common share     30,284     23,479     16,386
Anti-dilutive common shares outstanding     -     -     14
Earnings per common share:                  
       Basic   $ 1.38   $ 0.80   $ 1.21
       Diluted   $ 1.36   $ 0.79   $ 1.21



Treasury Stock

Subject to limitations applicable to the Parent Corporation, treasury stock purchases may be made from time to time as, in the opinion of management, market conditions warrant, in the open market or in privately negotiated transactions. Shares repurchased are added to the corporate treasury and will be used for future stock dividends and other issuances. The repurchased shares are recorded as treasury stock, which results in a decrease in stockholders’ equity. Treasury stock is recorded using the cost method and accordingly is presented as a reduction of stockholders’ equity. During the years ended December 31, 2015, 2014 and 2013, the Parent Corporation did not purchase any of its shares.

 

 Goodwill

 

The Company adopted the provisions of FASB ASC 350-20-35-4 (“ASC 350”), which requires that goodwill be tested for impairment annually, or more frequently if indicators arise for impairment. The Company has selected December 31 as the date to perform the annual impairment test. No impairment charge was deemed necessary for the years ended December 31, 2015, 2014 and 2013.  

 

In accordance with ASC 350, an impairment analysis is a two-step test. The first step is to identify potential impairment by comparing the value fair of a reporting unit with its carrying amount, including goodwill and the second step, if necessary, is to quantify the amount of impairment. Also considered as part of the analysis were:

 

  • Market value and control value compared to Company’s common equity.
  • Company’s market price as compared to previous period.
  • Overall financial performance.

 

Other Intangible Assets

 

Other intangible assets consist of core deposits arising from business combinations that are amortized over their estimated useful lives to their estimated residual value.

 

Comprehensive Income

 

Total comprehensive income includes all changes in equity during a period from transactions and other events and circumstances from nonowner sources. The Company’s other comprehensive income is comprised of unrealized holding gains and losses on securities available-for-sale, unrecognized actuarial gains and losses of the Company’s defined benefit pension plan and unrealized gains and losses on cash flow hedge, net of taxes.

 

Disclosure of comprehensive income for the years ended December 31, 2015, 2014 and 2013 is presented in the Consolidated Statements of Comprehensive Income and presented in detail in Note 17 of the Notes to Consolidated Financial Statements.

  

Restrictions on Cash

Cash on hand or on deposit with the Federal Reserve Bank is required to meet regulatory reserve and clearing requirements.

 

Dividend Restriction

 

Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Parent Corporation or by the Parent Corporation to the stockholders.

 

Fair Value of Financial Instruments

Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.

 

Bank-Owned Life Insurance

 

The Company invests in Bank-Owned Life Insurance (“BOLI”) to help offset the rising cost of employee benefits. The change in the cash surrender value of the BOLI is recorded as a component of other income.

 

Income Taxes

 

Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized.

 

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. 

 

Advertising Costs

 

The Company recognizes its marketing and advertising cost as incurred.

 

Reclassifications

 

Certain reclassifications have been made in the consolidated financial footnotes for 2014 to conform to the classifications presented in 2015.
v3.3.1.900
New Authoritative Accounting Guidance
 12 Months Ended
Dec. 31, 2015
Accounting Changes and Error Corrections [Abstract]  
New Authoritative Accounting Guidance

Note 2 - New Authoritative Accounting Guidance

ASU No. 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures” requires entities to account for repurchase-to-maturity transactions as secured borrowings rather than as sales with forward repurchase agreements and expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. The accounting-related changes became effective for the first interim or annual period beginning after December 15, 2014. The disclosures for certain transactions accounted for as sales are required for interim and annual periods beginning after December 15, 2014. The disclosures for repos, securities lending transactions, and repos-to-maturity accounted for as secured borrowings are required for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. The Company’s repurchase agreements are typical in nature (i.e., not repurchase-to-maturity transactions or repurchase agreements executed as a repurchase financing) and are accounted for as secured borrowings. ASU No. 2014-11 did not have a significant impact on the Company’s consolidated financial statements.

ASU No. 2015-03, "Interest—Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs" requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in the ASU No. 2015-03. ASU No. 2015-03 will be effective for reporting periods (including interim periods) beginning after December 15, 2015. ASU No. 2015-03 did not have a significant impact on the Company’s consolidated financial statements.

ASU No. 2015-12, "Plan Accounting: Defined Benefit Pension Plans (Topic 960): Defined Contribution Pension Plans, (Topic 962): Health and Welfare Benefit Plans, (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient." ASU No. 2015-12 simplifies accounting for employee benefit plans as follows: (i) fully benefit-responsive investment contracts are now to be measured, presented and disclosed at contract value, (ii) the requirement to disclose investments that represent 5 percent or more of net assets available for benefits has been eliminated, (iii) the net appreciation or depreciation in investments for the period should be presented in the aggregate, but is no longer required to be disaggregated and disclosed by general type, (iv) if an investment is measured using the net asset value per share (or its equivalent) practical expedient in Topic 820, and that investment is in a fund that files a U.S. Department of Labor Form 5500, Annual Return/Report of Employee Benefit Plan, as a direct filing entity, disclosure of that investment’s strategy is no longer required, and (v) allows employers to measure (as a practical expedient) benefit plan assets on a month-end date nearest to the employer’s fiscal year end when the fiscal period does not coincide with a month end. ASU No. 2015-12 is effective for the Company for reporting periods beginning January 1, 2016 and is not expected to have a significant impact on the Company’s consolidated financial statements.

ASU No. 2016-02, “Leases (Topic 842)” requires the recognition of a right of use asset and related lease liability by lessees for leases classified as operating leases under current GAAP. Topic 842, which replaces the current guidance under Topic 840, retains a distinction between finance leases and operating leases. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee also will not significantly change from current GAAP. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize right of use assets and lease liabilities. Topic 842 will be effective for the Company for reporting periods beginning January 1, 2019, with an early adoption permitted. The Company must apply a modified retrospective transition approach for the applicable leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Management is currently evaluating the impact of Topic 842 on the Company’s consolidated financial statements.
v3.3.1.900
Business Combinations
 12 Months Ended
Dec. 31, 2015
Business combinations:  
Business Combination Disclosure [Text Block]

Note 3 - Business Combinations

On January 20, 2014, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ConnectOne Bancorp, Inc., a New Jersey corporation (“Legacy ConnectOne”). Effective July 1, 2014 (the “Effective Time”), the Company completed the merger contemplated by the Merger Agreement (the “Merger”) with Legacy ConnectOne, and Legacy ConnectOne merged with and into the Company, with the Company as the surviving corporation. Also at closing, the Company changed its name from “Center Bancorp, Inc.” to “ConnectOne Bancorp, Inc.” and changed its NASDAQ trading symbol to “CNOB” from “CNBC.”

Pursuant to the Merger Agreement, holders of Legacy ConnectOne common stock, no par value per share (the “Legacy ConnectOne Common Stock”), received 2.6 shares of common stock of the Company, no par value per share (the “Company Common Stock”), for each share of Legacy ConnectOne Common Stock held immediately prior to the effective time of the Merger, with cash to be paid in lieu of fractional shares. Each outstanding share of Company Common Stock remained outstanding and was unaffected by the Merger. Each option granted by Legacy ConnectOne to purchase shares of Legacy ConnectOne Common Stock was converted into an option to purchase Company Common Stock on the same terms and conditions as were applicable prior to the Merger (taking into account any acceleration or vesting by reason of the consummation of the Merger and its related transactions), subject to adjustment of the exercise price and the number of shares of Company Common Stock issuable upon exercise of such option based on the 2.6 exchange ratio.

Immediately following the Merger, Union Center National Bank, a bank organized pursuant to the laws of the United States, and a wholly owned subsidiary of the Company (“UNCB”), merged (the “Bank Merger”) with and into ConnectOne Bank, a New Jersey state-chartered commercial bank and a wholly owned subsidiary of Legacy ConnectOne, with ConnectOne Bank as the surviving entity (the “Bank”). The Bank now conducts business only in the name of and under the brand of ConnectOne.

The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible, were recorded at their fair values as of July 1, 2014 based on management’s best estimate using the information available as of the Merger date. The application of the acquisition method of accounting resulted in the recognition of goodwill of $129,105,000 and a core deposit intangible of $5,308,000. As of July 1, 2014, Legacy ConnectOne had assets with a carrying value of approximately $1.5 billion, including loans with a carrying value of approximately $1.2 billion, and deposits with a carrying value of approximately $1.1 billion. The table below summarizes the amounts recognized as of the Merger date for each major class of assets acquired and liabilities assumed, the estimated fair value adjustments and the amounts recorded in the Company’s financial statements at fair value at the Merger date (in thousands):

Consideration paid through Company common stock issued to Legacy ConnectOne shareholders and fair value of stock options acceleration was: $ 264,231

    Legacy         As recorded
    ConnectOne   Fair value     at
    carrying value   adjustments     acquisition
Cash and cash equivalents   $ 70,318   $ -     $ 70,318
Investment securities     28,436     16  (a)     28,452
Restricted investments     13,646     -       13,646
Loans held for sale     190     -       190
Loans          1,304,600          (5,316) (b)     1,299,284
Bank owned life insurance     15,481     -       15,481
 
Premises and equipment, net     7,380     (905) (c)     6,475
Accrued interest receivable     4,470     -       4,470
Core deposit intangible     -     5,308 (d)     5,308
Other real estate owned     2,455     -       2,455
Other assets     10,636     3,650 (e)     14,286
Deposits     (1,049,666)     (1,676) (f)     (1,051,342)
Borrowings     (262,046)     (1,324) (g)     (263,370)
Other liabilities     (10,527)     -       (10,527)
 
       Total identifiable net assets   $ 135,373   $      (247)     $      135,126
 
Goodwill recorded in the Merger                 $ 129,105



The following provides an explanation of certain fair value adjustments presented in the above table:

  a)   Represents the fair value adjustment on investment securities held to maturity.
  b)   Represents the elimination of Legacy ConnectOne’s allowance for loan and lease losses, deferred fees, deferred costs and an adjustment of the amortized cost of loans to estimated fair value, which includes an interest rate mark and credit mark.
  c)   Represent an adjustment to reflect the fair value of above-market rent on leased premises. The above-market rent adjustment will be amortized on a straight-line basis over the remaining term of the respective leases.
  d)   Represents intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base.
  e)   Consist primarily of adjustments in net deferred tax assets resulting from the fair value adjustments related to acquired assets, liabilities assumed and identifiable intangibles recorded.
  f)   Represents fair value adjustment on time deposits as the weighted average interest rates of time deposits assumed exceeded the costs of similar funding available in the market at the time of the Merger, as well as the elimination of fees paid on brokered time deposits.
  g)   Represents the fair value adjustment on FHLB borrowings as the weighted average interest rate of FHLB borrowings assumed exceeded the cost of similar funding available in the market at the time of the Merger.



The amount of goodwill recorded represents the excess purchase price over the estimated fair value of the net assets acquired by the Company and reflects the economies of scale, increased market share and lending capabilities, greater access to best-in-class banking technology, and related synergies that are expected to result from the acquisition.

Except for collateral dependent loans with deteriorated credit quality, the fair values for loans acquired from Legacy ConnectOne were estimated using cash flow projections based on the remaining maturity and repricing terms. Cash flows were adjusted by estimated future credit losses and the rate of prepayments. Projected monthly cash flows were then discounted to present value using a risk-adjusted market rate for similar loans. For collateral dependent loans with deteriorated credit quality, fair value was estimated by analyzing the value of the underlying collateral, assuming the fair values of the loan were derived from the eventual sale of the collateral. These values were discounted using market derived rate of returns, with consideration given to the period of time and costs associated with the foreclosure and disposition of the collateral. There was no carryover of Legacy ConnectOne allowance for loan and lease losses associated with the loans that were acquired, as the loans were initially recorded at fair value on the date of the Merger.

The acquired loan portfolio subject to purchased credit impairment accounting guidance (ASC 310-30) as of July 1, 2014 was comprised of collateral dependent loans with deteriorated credit quality as follows:

    ASC 310-30
    Loans
Contractual principal and accrued interest at acquisition   $ 23,284
Principal not expected to be collected (nonaccretable discount)     (6,942)
Expected cash flows at acquisition     16,342
Interest component of expected cash flows (accretable discount)     (5,013)
Fair value of acquired loans   $ 11,329



The core deposit intangible asset recognized is being amortized over its estimated useful life of approximately 10 years utilizing an accelerated method.

Goodwill is not amortized for book purposes; however, it is reviewed at least annually for impairment and is not deductible for tax purposes.

The fair value of retail demand and interest bearing deposit accounts was assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. The fair value of time deposits was estimated by discounting the contractual future cash flows using market rates offered for time deposits of similar remaining maturities. The fair value of borrowed funds was estimated by discounting the future cash flows using market rates for similar borrowings.

Direct acquisition and integration costs of the Merger were expensed as incurred and totaled $12.4 million. These items were recorded as merger-related expenses on the statement of operations.

The following table presents selected unaudited pro forma financial information reflecting the Merger assuming it was completed as of January 1, 2013. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies had the Merger actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full fiscal year period. Pro forma basic and diluted earnings per common share were calculated using the Company’s actual weighted average shares outstanding for the periods presented, plus the incremental shares issued, assuming the Merger occurred at the beginning of the periods presented.

The unaudited pro forma information set forth below reflects the adjustments related to (a) purchase accounting fair value adjustments; (b) amortization of core deposit and other intangibles; and (c) adjustments to interest income and expense due to amortization of premiums and accretion discounts. In the table below, merger-related expenses of $12.4 million were excluded from pro forma non-interest expenses for the year ended December 31, 2014. Income taxes were also adjusted to exclude income tax benefits of $5.6 million related to the merger expenses for the year ended December 31, 2014.

    2014   2013
    (in thousands, except per
    share amounts)
Net interest income   $ 107,988   $ 95,749
Noninterest income     8,244     8,053
Noninterest expense     (54,749)     (45,827)
Net income     45,981     35,984
 
Pro forma earnings per share from continuing operations:            
       Basic   $ 1.55   $ 0.91
       Diluted     1.53     0.90
v3.3.1.900
Investment Securities
 12 Months Ended
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 4 - Investment Securities

The following tables present information related to the Company’s portfolio of securities available-for-sale and held-to-maturity at December 31, 2015 and 2014.

        Gross   Gross      
    Amortized   Unrealized   Unrealized   Fair
    Cost   Gains   Losses   Value
    December 31, 2015
    (dollars in thousands)
Investment securities available-for-sale:                        
Federal agency obligations   $  29,062   $ 142   $ (58)   $ 29,146
Residential mortgage pass-through securities     44,155     803     (48)     44,910
Commercial mortgage pass-through securities     2,981     -     (9)     2,972
Obligations of U.S. states and political subdivisions     8,188     169     -     8,357
Trust preferred securities     16,088     398     (231)     16,255
Corporate bonds and notes     53,566     702     (292)     53,976
Asset-backed securities     20,005     18     (298)     19,725
Certificates of deposit     1,895     18     (8)     1,905
Equity securities     376     21     (23)     374
Other securities     18,303     -     (153)     18,150
       Total securities available-for-sale   $  194,619   $ 2,271   $ (1,120)   $ 195,770
 
        Gross   Gross      
    Amortized   Unrecognized   Unrecognized   Fair
    Cost   Gains   Losses   Value
Investment securities held-to-maturity:                        
U.S. Treasury and agency securities   $  28,471   $ 755   $ -   $ 29,226
Federal agency obligations     33,616     280     (119)     33,777
Residential mortgage-backed securities     3,805     11     (6)     3,810
Commercial mortgage-backed securities     4,110     27     (2)     4,135
Obligations of U.S. states and political subdivisions     118,015     5,001     (3)     123,013
Corporate bonds and notes     36,039     719     (161)     36,597
       Total securities held-to-maturity   $        224,056   $      6,793   $        (291)   $      230,558



          Gross   Gross      
    Amortized   Unrealized   Unrealized   Fair
    Cost   Gains   Losses   Value
    December 31, 2014
    (dollars in thousands)
Investment Securities Available-for-Sale:                        
Federal agency obligations   $  32,650   $ 217   $ (50)   $ 32,817
Residential mortgage pass-through securities     58,836     1,531     (11)     60,356
Commercial mortgage pass-through securities     3,042     4     -     3,046
Obligations of U.S. states and political subdivisions     8,201     205     -     8,406
Trust preferred securities     16,086     489     (269)     16,306
Corporate bonds and notes     119,838     5,950     (11)     125,777
Asset-backed securities     27,393     140     (31)     27,502
Certificates of deposit     2,098     27     (2)     2,123
Equity securities     376     -     (69)     307
Other securities     12,941     33     (82)     12,892
       Total securities available-for-sale   $  281,461   $ 8,596   $ (525)   $ 289,532
 
        Gross   Gross      
    Amortized   Unrecognized   Unrecognized   Fair
    Cost   Gains   Losses   Value
Investment securities held-to-maturity:                        
U.S. Treasury and agency securities   $  28,264   $ 920   $ -   $ 29,184
Federal agency obligations     27,103     322     (28)     27,397
Residential mortgage-backed securities     5,955     28     -     5,983
Commercial mortgage-backed securities     4,266     50     -     4,316
Obligations of U.S. states and political subdivisions     120,144     4,512     (60)     124,596
Corporate bonds and notes     38,950     1,026     (7)     39,969
       Total securities held-to-maturity   $ 224,682   $ 6,858   $ (95)   $ 231,445



The available-for-sale securities are reported at fair value with unrealized gains or losses included in equity, net of taxes. Accordingly, the carrying value of such securities reflects their fair value at the balance sheet date. Fair value is based upon either quoted market prices, or in certain cases where there is limited activity in the market for a particular instrument, assumptions are made to determine their fair value. See Note 22 of the Notes to Consolidated Financial Statements for a further discussion.

Transfers of securities from the available-for-sale category to the held-to-maturity category are made at fair value at the date of transfer. The unrealized holding gain or loss at the date of transfer remains in accumulated other comprehensive income and in the carrying value of the held-to-maturity investment security. Premiums or discounts on investment securities are amortized or accreted using the effective interest method over the life of the security as an adjustment of yield. Unrealized holding gains or losses that remain in accumulated other comprehensive income are amortized or accreted over the remaining life of the security as an adjustment of yield, offsetting the related amortization of the premium or accretion of the discount.

The following table presents information for investments in securities available-for-sale and held-to-maturity at December 31, 2015, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. Securities not due at a single maturity date are shown separately.

    December 31, 2015
    Amortized   Fair
    Cost   Value
    (dollars in thousands)
Investment Securities Available-for-Sale:            
      Due in one year or less   $  13,543   $ 13,587
      Due after one year through five years     21,730     22,137
      Due after five years through ten years     44,371     44,391
      Due after ten years     49,160     49,249
Residential mortgage pass-through securities     44,155     44,910
Commercial mortgage pass-through securities     2,981     2,972
Equity securities     376     374
Other securities     18,303     18,150
        Total   $  194,619   $ 195,770
 
Investment Securities Held-to-Maturity:            
      Due in one year or less   $  1,000   $ 998
      Due after one year through five years     13,123     13,380
      Due after five years through ten years     80,274     82,739
      Due after ten years     121,744     125,496
Residential mortgage-backed securities     3,805     3,810
Commercial mortgage-backed securities     4,110     4,135
        Total   $  224,056   $ 230,558
Total investment securities   $         418,675   $        426,328



Gross gains and losses from the sales, calls, and maturities of investment securities for the years ended December 31, 2015, 2014 and 2013 were as follows:

    Years Ended December 31,
(dollars in thousands)   2015   2014   2013
Proceeds   $ 65,231   $ 81,844   $ 122,165
 
Gross gains on sales of investment securities   $ 3,931   $ 2,837   $ 2,451
Gross losses on sales of investment securities     -     19     88
      Net gains on sales of investment securities     3,931     2,818     2,363
      Less: tax provision on net gains   (1,376)     (986)     (645)
            Net gains on sales of investment securities   $      2,555   $      1,832   $      1,718



Other-than-Temporarily Impaired Investments

Summary of Other-than-Temporary Impairment Charges

    Years Ended December 31,
    2015   2014   2013
    (dollars in thousands)
Pooled trust preferred securities   $ -   $ -   $ 628
Principal losses on a variable rate CMO     -     -     24
Total other-than-temporary impairment charges   $ -   $ -   $ 652



The Company performs regular analysis on the available-for-sale securities portfolio to determine whether a decline in fair value indicates that an investment is other-than-temporarily impaired in accordance with FASB ASC 320-10. FASB ASC 320-10 requires companies to record other-than-temporary impairment (“OTTI”) charges, through earnings, if they have the intent to sell, or more likely than not be required to sell, an impaired debt security before recovery of its amortized cost basis. If the Company intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current period credit loss, the OTTI is recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its estimated fair value at the balance sheet date. If the Company does not intend to sell the security and it is more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current period loss, and as such, it determines that a decline in fair value is other than temporary, the OTTI is separated into the amount representing the credit loss and the amount related to all other factors. The amount of the OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment.

The Company reviews all securities for potential recognition of other-than-temporary impairment. The Company maintains a watch list for the identification and monitoring of securities experiencing problems that require a heightened level of review. This could include credit rating downgrades.

The Company’s assessment of whether an impairment in the portfolio of assets is other than temporary includes factors such as whether the issuer has defaulted on scheduled payments, announced restructuring and/or filed for bankruptcy, has disclosed severe liquidity problems that cannot be resolved, disclosed deteriorating financial condition or sustained significant losses.

During 2013, the one pooled trust preferred security (“Pooled TRUP”), in the Company’s portfolio incurred an other-than-temporary impairment charge of $628,000 and subsequently was sold at its book value. As such, there were no OTTI charges taken for the years ended December 31, 2015 and 2014.

Temporarily Impaired Investments

For all other securities, the Company does not believe that the unrealized losses, which were comprised of 74 and 54 investment securities as of December 31, 2015 and December 31, 2014, respectively, represent an other-than-temporary impairment. The gross unrealized losses associated with U.S. Treasury and agency securities, federal agency obligations, mortgage-backed securities, corporate bonds, tax-exempt securities, asset-backed securities, trust preferred securities, mutual funds and equity securities are not considered to be other than temporary because these unrealized losses are related to changes in interest rates and do not affect the expected cash flows of the underlying collateral or issuer.

Factors affecting the market price include credit risk, market risk, interest rates, economic cycles, and liquidity risk. The magnitude of any unrealized loss may be affected by the relative concentration of the Company’s investment in any one issuer or industry. The Company has established policies to reduce exposure through diversification of concentration of the investment portfolio including limits on concentrations to any one issuer. The Company believes the investment portfolio is prudently diversified.

The decline in value is related to a change in interest rates and subsequent change in credit spreads required for these issues affecting market price. All issues are performing and are expected to continue to perform in accordance with their respective contractual terms and conditions. Short to intermediate average durations and in certain cases monthly principal payments should reduce further market value exposure to increases in rates.

The Company evaluates all securities with unrealized losses quarterly to determine whether the loss is other than temporary. Unrealized losses in the corporate debt securities category consists primarily of senior unsecured corporate debt securities issued by large financial institutions, insurance companies and other corporate issuers. Single issuer corporate trust preferred securities are also included, and in the case of one holding the market valuation loss is largely based upon the floating rate coupon and corresponding market valuation. Neither that trust preferred issuer, nor any other corporate issuers, have defaulted on interest payments. The unrealized loss in equity securities consists of losses on other bank equities. The decline in fair value is due in large part to the lack of an active trading market for these securities, changes in market credit spreads and rating agency downgrades. Management concluded that these securities were not other-than-temporarily impaired at December 31, 2015.

In determining that the securities giving rise to the previously mentioned unrealized losses were not other than temporarily impaired, the Company evaluated the factors cited above, which the Company considers when assessing whether a security is other-than-temporarily impaired. In making these evaluations the Company must exercise considerable judgment. Accordingly, there can be no assurance that the actual results will not differ from the Company’s judgments and that such differences may not require the future recognition of other-than-temporary impairment charges that could have a material effect on the Company’s financial position and results of operations. In addition, the value of, and the realization of any loss on, an investment security is subject to numerous risks as cited above.

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at December 31, 2015 and 2014:

    December 31, 2015
    Total   Less than 12 Months   12 Months or Longer
    Fair   Unrealized   Fair   Unrealized   Fair   Unrealized
    Value   Losses   Value   Losses   Value   Losses
    (dollars in thousands)
Investment Securities                                    
       Available-for-Sale:                                    
Federal agency obligation   $  12,260   $ (58)   $ 12,013   $ (54)   $ 247   $ (4)
Residential mortgage                                    
       pass-through securities     9,027     (48)     9,027     (48)     —     —
Commercial mortgage-backed                                    
       securities     2,971     (9)     2,971     (9)     —     —
Trust preferred securities     1,345     (231)     —     —     1,345     (231)
Corporate bonds and notes     16,533     (292)     12,702     (161)     3,831     (131)
Asset-backed securities     14,745     (298)     11,250     (188)     3,495     (110)
Certificates of deposit     215     (8)     215     (8)     —     —
Equity securities     123     (23)     —     —     123     (23)
Other securities     5,347     (153)     —     —     5,347     (153)
Total   $  62,566   $ (1,120)   $ 48,178   $ (468)   $ 14,388   $ (652)
Investment Securities                                    
       Held-to-Maturity:                                    
Federal agency obligation     12,554     (119)     11,783     (109)     771     (10)
Residential mortgage                                    
       pass-through securities     2,480     (6)     2,480     (6)     —     —
Commercial mortgage-backed                                    
       securities     1,331     (2)     1,331     (2)     —     —
Obligations of U.S. states                                    
       and political subdivisions     981     (3)     981     (3)     —     —
Corporate bonds and notes     5,536     (161)     5,536     (161)     —     —
Total     22,882     (291)     22,111     (281)     771     (10)
Total Temporarily Impaired                                    
       Securities   $        85,448   $       (1,411)   $       70,289   $       (749)   $       15,159   $       (662)



    December 31, 2014
    Total   Less than 12 Months   12 Months or Longer
    Fair   Unrealized   Fair   Unrealized   Fair   Unrealized
    Value   Losses   Value   Losses   Value   Losses
    (dollars in thousands)
Investment Securities                                    
       Available-for-Sale:                                    
Federal agency obligation   $  6,755   $ (50)   $ 2,770   $ (9)   $ 3,985   $ (41)
Residential mortgage                                    
       pass-through securities     5,694     (11)     5,694     (11)     —     —
Trust preferred securities     1,307     (269)     —     —     1,307     (269)
Corporate bonds and notes     1,961     (11)     1,961     (11)     —     —
Asset-backed securities     9,773     (31)     9,773     (31)     —     —
Certificates of deposit     369     (2)     369     (2)     —     —
Equity securities     307     (69)     —     —     307     (69)
Other securities     5,417     (82)     1,978     (21)     3,439     (61)
Total   $  31,583   $ (525)   $ 22,545   $ (85)   $ 9,038   $ (440)
Investment Securities                                    
       Held-to-Maturity:                                    
Federal agency obligation     3,228     (28)     3,228     (28)     —     —
Obligations of U.S. states                                    
       and political subdivisions     8,341     (60)     1,401     (3)     6,940     (57)
Corporate bonds and notes     993     (7)     993     (7)     —     —
Total     12,562     (95)     5,622     (38)     6,940     (57)
Total Temporarily Impaired                                    
       Securities   $  44,145   $ (620)   $ 28,167   $ (123)   $ 15,978   $ (497)



Investment securities having a carrying value of approximately $142.5 million and $224.7 million at December 31, 2015 and December 31, 2014, respectively, were pledged to secure public deposits, borrowings, repurchase agreements, Federal Reserve Discount Window and Federal Home Loan Bank advances and for other purposes required or permitted by law.

As of December 31, 2015 and December 31, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses
 12 Months Ended
Dec. 31, 2015
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 5 - Loans and the Allowance for Loan and Lease Losses

The following table sets forth the composition of the Company’s loan portfolio segments, including net deferred fees and costs, at December 31, 2015 and 2014, respectively:

    2015   2014
    (in thousands)
Commercial   $ 570,116   $ 499,816
Commercial real estate     1,966,696     1,634,510
Commercial construction     328,838     167,359
Residential real estate     233,690     234,967
Consumer     2,454     2,879
       Gross loans     3,101,794     2,539,531
Net deferred loan (fees) costs     (2,787)     (890)
       Total loans receivable   $       3,099,007   $       2,538,641



The loan segments in the above table have unique risk characteristics with respect to credit quality:

● The repayment of commercial loans is generally dependent on the creditworthiness and cash flow of borrowers, and if applicable, guarantors, which may be negatively impacted by adverse economic conditions. While the majority of these loans are secured, collateral type, marketing, coverage, valuation and monitoring is not as uniform as in other portfolio classes and recovery from liquidation of such collateral may be subject to greater variability.
 
● Payment on commercial mortgages is driven principally by operating results of the managed properties or underlying business and secondarily by the sale or refinance of such properties. Both primary and secondary sources of repayment, and value of the properties in liquidation, may be affected to a greater extent by adverse conditions in the real estate market or the economy in general.
 
● Properties underlying construction, land and land development loans often do not generate sufficient cash flows to service debt and thus repayment is subject to ability of the borrower and, if applicable, guarantors, to complete development or construction of the property and carry the project, often for extended periods of time. As a result, the performance of these loans is contingent upon future events whose probability at the time of origination is uncertain.
 
● The ability of borrowers to service debt in the residential and consumer loan portfolios is generally subject to personal income which may be impacted by general economic conditions, such as increased unemployment levels. These loans are predominately collateralized by first and/or second liens on single family properties. If a borrower cannot maintain the loan, the Company’s ability to recover against the collateral in sufficient amount and in a timely manner may be significantly influenced by market, legal and regulatory conditions.

Purchased Credit-Impaired Loans

The Company holds purchased loans for which there was, at their acquisition date, evidence of deterioration of credit quality since their origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of those loans is as follows at December 31, 2015 and December 31, 2014.

    2015   2014
    (in thousands)
Commercial   $      7,078   $      7,199
Commercial real estate     1,775     1,816
Commercial construction     -     -
Residential real estate     328     806
Consumer     -     -
      Total carrying amount   $ 9,181   $ 9,821



For those purchased loans disclosed above, the Company did not increase the allowance for loan and lease losses for the year ended December 31, 2015. No allowances for loan and lease losses were reversed during 2015.

The accretable yield, or income expected to be collected, on the purchased credit impaired loans above is as follows at December 31, 2015 and December 31, 2014.

    2015   2014
    (in thousands)
Balance at beginning of period   $ 4,805   $ 5,013
New loans purchased     -     -
Accretion of income     (1,206)     (142)
Reclassifications from nonaccretable difference     -     -
Disposals     -     (66)
      Balance at end of period   $        3,599   $        4,805



The following table presents nonaccrual loans by class of loans:

Loans Receivable on Nonaccrual Status        
         
    2015   2014
    (in thousands)
Commercial   $ 6,586   $ 616
Commercial real estate     9,112     8,197
Commercial construction     1,479     -
Residential real estate     3,559     2,796
      Total loans receivable on nonaccrual status   $        20,736   $        11,609



Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified impaired loans.

At December 31, 2015 and 2014, loan balances of approximately $1.6 billion and $1.0 billion were pledged to secure borrowings from the Federal Reserve Bank of New York and Federal Home Loan Bank Advances.

At December 31, 2015 and 2014, the net investment in direct lease financing consists of a minimum lease receivable of $4,105,000 and $4,267,000, respectively, and unearned interest income of $394,000 and $538,000, respectively, for a net investment in direct lease financing of $3,712,000 and $3,729,000, respectively. The net investment in direct lease financing is carried as a component of loans in the Company’s consolidated statements of condition and included in the commercial loan segment. The tenant is in default under the lease and the Bank intends to sell the property. The Company has allocated a $1.3 million specific allowance for the net investment in direct lease financing as of December 31, 2015. The Company did not allocate a specific allowance for the net investment in direct lease financing as of December 31, 2014.

The Company continuously monitors the credit quality of its loans receivable. In addition to the internal staff, the Company utilizes the services of a third party loan review firm to rate the credit quality of its loans receivable. Credit quality is monitored by reviewing certain credit quality indicators. Assets classified “Pass” are deemed to possess average to superior credit quality, requiring no more than normal attention. Assets classified as “Special Mention” have generally acceptable credit quality yet possess higher risk characteristics/circumstances than satisfactory assets. Such conditions include strained liquidity, slow pay, stale financial statements, or other conditions that require more stringent attention from the lending staff. These conditions, if not corrected, may weaken the loan quality or inadequately protect the Company’s credit position at some future date. Assets are classified “Substandard” if the asset has a well-defined weakness that requires management’s attention to a greater degree than for loans classified special mention. Such weakness, if left uncorrected, could possibly result in the compromised ability of the loan to perform to contractual requirements. An asset is classified as “Doubtful” if it is inadequately protected by the net worth and/or paying capacity of the obligor or of the collateral, if any, that secures the obligation. Assets classified as doubtful include assets for which there is a “distinct possibility” that a degree of loss will occur if the inadequacies are not corrected. All loans past due 90 days or more and all impaired loans are included in the appropriate category below. The following table presents information about the loan credit quality by loan segment at December 31, 2015 and 2014:

Credit Quality Indicators

    December 31, 2015
          Special                  
    Pass   Mention   Substandard   Doubtful   Total
    (in thousands)
Commercial   $ 462,358   $ 11,760   $ 95,998   $ -   $ 570,116
Commercial real estate     1,919,041     18,990     28,426     239     1,966,696
Commercial construction     326,697     662     1,479     -     328,838
Residential real estate     229,426     -     4,264     -     233,690
Consumer     2,368     -     86     -     2,454
Total loans   $ 2,939,890   $ 31,412   $             130,253   $             239   $       3,101,794
 
    December 31, 2014
          Special                  
    Pass   Mention   Substandard   Doubtful   Total
    (in thousands)
Commercial   $ 481,927   $ 3,686   $ 14,203   $ -   $ 499,816
Commercial real estate           1,596,317           14,140     23,764     289     1,634,510
Commercial construction     165,880     1,479     -     -     167,359
Residential real estate     230,772     -     4,195     -     234,967
Consumer     2,778     -     101     -     2,879
Total loans   $ 2,477,674   $ 19,305   $ 42,263   $ 289   $ 2,539,531



The following table provides an analysis of the impaired loans by segment at December 31, 2015 and 2014:

    December 31, 2015
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 610   $ 645   $     $ 686   $ -
Commercial real estate     15,517     16,512           6,363     60
Commercial construction     2,149     2,141           1,535     -
Residential real estate     3,954     4,329           3,322     10
Consumer     87     86           96     5
Total   $ 22,318   $ 23,173   $     $ 12,002   $ 75
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $      84,787   $        84,449   $       6,725   $        55,445   $       1,895
Total                              
Commercial   $ 85,397   $ 85,094   $ 6,725   $ 56,131   $ 1,895
Commercial real estate     15,517     16,512     -     6,363     60
Commercial construction     2,149     2,141     -     1,535      
Residential real estate     3,954     4,329     -     3,322     10
Consumer     87     86     -     96     5
Total   $ 107,104   $ 108,162   $ 6,725   $ 67,447   $ 1,970
 
    December 31, 2014
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 481   $ 527   $ -   $ 494   $ -
Commercial real estate     5,890     6,857     -     6,276     129
Residential real estate     3,072     3,406     -     3,170     41
Consumer     109     101     -     107     -
Total   $ 9,552   $ 10,891   $ -   $ 10,047   $ 170
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 387   $ 389   $ 111   $ 389   $ -
Commercial real estate     3,520     3,520     150     3,584     171
Total   $ 3,907   $ 3,909   $ 261   $ 3,973   $ 171
Total                              
Commercial   $ 868   $ 917   $ 111   $ 883   $ -
Commercial real estate     9,410     10,107     150     9,860     300
Residential real estate     3,072     3,406     -     3,170     41
Consumer     109     101     -     106     -
Total   $ 13,459   $ 14,531   $ 261   $ 14,019   $ 342



    December 31, 2013
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 449   $ 449   $ -   $ 494   $ 25
Commercial real estate     10,482     10,783     -     10,658     496
Residential real estate     1,858     2,000     -     1,892     94
Consumer     120     120     -     128     6
Total   $ 12,909   $ 13,352   $ -   $ 13,172   $ 621
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 672   $ 672   $ 300   $ 687   $ 43
Commercial real estate     4,344     4,344     115     4,359     200
Total   $ 5,016   $ 5,016   $ 415   $ 5,046   $ 243
 
Total                              
Commercial   $ 1,121   $ 1,121   $ 300   $ 1,181   $ 68
Commercial real estate     14,826     15,127     115     15,017     696
Residential real estate     1,858     2,000     -     1,892     94
Consumer     120     120     -     128     6
Total (including related                              
       allowance)   $ 17,925   $ 18,368   $ 415   $ 18,218   $ 864



Included in the impaired loans table are $85.9 million, $1.8 million and $5.7 million of performing TDRs as of December 31, 2015, 2014 and 2013 respectively. The recorded investment in loans include accrued interest receivable and other capitalized costs such as real estate taxes paid on behalf of the borrower and loan origination fees, net, when applicable. Cash basis interest and interest income recognized on accrual basis approximate each other.

The following table provides an analysis of the aging of the loans by segment, excluding net deferred costs that are past due at December 31, 2015 and December 31, 2014 by class:

Aging Analysis

    December 31, 2015
                                        Loans
                                        Receivable > 90
                90 Days or                     Days Past Due
    30-59 Days   60-89 Days   Greater Past   Total Past         Total Loans   and
    Past Due   Past Due   Due   Due   Current   Receivable   Accruing
    (in thousands)
Commercial   $ 6,887   $ 3,505   $ 6,865   $ 17,257   $ 552,859   $ 570,116   $ -
Commercial                                          
real estate     1,998     988     9,561     12,547     1,954,149     1,966,696     -
Commercial                                          
construction     -     -     1,479     1,479     327,359     328,838     -
Residential                                          
real estate     -     -     2,122     2,122     231,568     233,690     -
Consumer     4     9     -     13     2,441     2,454     -
       Total   $            8,889   $            4,502   $            20,027   $            33,418   $            3,068,376   $            3,101,794   $ -
     
Aging Analysis
     
    December 31, 2014
                                        Loans
                                        Receivable > 90
                90 Days or                     Days Past Due
    30-59 Days   60-89 Days   Greater Past   Total Past         Total Loans   and
    Past Due   Past Due   Due   Due   Current   Receivable   Accruing
    (in thousands)
Commercial   $ 6,060   $ -   $ 662   $ 6,722   $ 493,094   $ 499,816   $ 45
Commercial                                          
real estate     4,937     638     5,961     11,536     1,622,974     1,634,510     609
Commercial                                          
construction     -     -     -     -     167,359     167,359     -
Residential                                          
real estate     1,821     210     3,200     5,231     229,736     234,967     557
Consumer     30     1     -     31     2,848     2,879     -
       Total   $ 12,848   $ 849   $ 9,823   $ 23,520   $ 2,516,011   $ 2,539,531   $ 1,211



The following table details the amount of loans that are evaluated individually, and collectively, for impairment (excluding net deferred costs), acquired with deteriorated quality, and the related portion of the allowance for loan and lease loss that is allocated to each loan portfolio class:

    December 31, 2015
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
    (in thousands)
Allowance for loan and lease losses:                                          
           Individually evaluated for impairment   $ 6,725   $ -   $ -   $ -   $ -   $ -   $ 6,725
           Collectively evaluated for impairment     4,224     10,926     3,253     976     4     464     19,847
      Acquired with deteriorated credit quality     -     -     -     -     -     -     -
                Total   $      10,949   $      10,926   $       3,253   $     976   $ 4   $ 464   $       26,572
 
Gross loans                                          
           Individually evaluated for impairment     85,397     15,517     2,149     3,954     87     -     107,104
           Collectively evaluated for impairment     477,641     1,949,404     326,689     229,408     2,367     -     2,985,509
      Acquired with deteriorated credit quality     7,078     1,775     -     328     -     -     9,181
                Total     570,116     1,966,696     328,838     233,690     2,454     -     3,101,794
 

 The tables above include approximately $867 million of acquired loans as of December 31, 2015 reported as collectively evaluated for impairment, of which $672 million were included in the commercial real estate loan segment.  

 
    December 31, 2014
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
    (in thousands)
Allowance for loan and lease losses:                                          
           Individually evaluated for impairment   $ 111   $ 151   $ -   $ -   $ -   $ -   $ 262
           Collectively evaluated for impairment     2,972     7,648     1,239     1,113     7     919     13,898
      Acquired with deteriorated credit quality     -     -     -     -     -     -     -
                Total   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
 
Gross loans                                          
           Individually evaluated for impairment   $ 868   $ 9,410   $ -   $ 3,072   $ 109   $ -   $ 13,459
           Collectively evaluated for impairment     491,749     1,623,284     167,359     231,089     2,770     -     2,516,251
      Acquired with deteriorated credit quality     7,199     1,816     -     806     -     -     9,821
                Total   $ 499,816   $ 1,634,510   $ 167,359   $ 234,967   $ 2,879   $ -   $ 2,539,531



The tables above include approximately $1.2 billion of acquired loans as of December 31, 2014 reported as collectively evaluated for impairment, of which $809 million were included in the commercial real estate loan segment.

The Company’s allowance for loan and lease losses is analyzed quarterly. Many factors are considered, including growth in the portfolio, delinquencies, nonaccrual loan levels, and other factors inherent in the extension of credit.

A summary of the activity in the allowance for loan and lease losses is as follows:

    Year Ended December 31, 2015
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2015   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
Loans charged-off     (101)     (406)     -     -     (31)     -     (538)
Recoveries     13     327     -     2     3     -     345
Provision for loan and lease losses     7,954     3,206     2,014     (139)     25     (455)     12,605
Balance at December 31, 2015   $ 10,949   $ 10,926   $ 3,253   $ 976   $ 4   $ 464   $ 26,572
 
    Year Ended December 31, 2014
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2014   $ 1,698   $ 5,746   $ 362   $ 990   $ 146   $ 1,391   $ 10,333
Loans charged-off     (379)     (398)     -     (159)     -     -     (936)
Recoveries     50     -     -     19     11     -     80
Provision for loan and lease losses     1,714     2,451     877     263     (150)     (472)     4,683
Balance at December 31, 2014   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
 
    Year Ended December 31, 2013
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2013   $        2,424   $         5,323   $         313   $         1,532   $       113   $          532   $      10,237
Loans charged-off     (6)     (126)     -     (175)     (22)     -     (329)
Recoveries     41     28     -     -     6     -     75
Provision for loan and lease losses     (761)     521     49     (367)     49     859     350
Balance at December 31, 2013   $ 1,698   $ 5,746   $ 362   $ 990   $ 146   $ 1,391   $ 10,333



Troubled Debt Restructurings

Loans are considered to have been modified in a troubled debt restructuring ("TDRs") when due to a borrower’s financial difficulties, the Company makes certain concessions to the borrower that it would not otherwise consider. Modifications may include interest rate reductions, principal or interest forgiveness, forbearance, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. Generally, a nonaccrual loan that has been modified in a troubled debt restructuring remains on nonaccrual status for a period of six months to demonstrate that the borrower is able to meet the terms of the modified loan. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower’s ability to meet the revised payment schedule is uncertain, the loan remains on nonaccrual status.

At December 31, 2015, there were no commitments to lend additional funds to borrowers whose loans were on nonaccrual status or were contractually past due in excess of 90 days and still accruing interest, or whose terms have been modified in troubled debt restructurings.

As of December 31, 2015, total TDRs were $86.6 million, of which $85.9 million were current and have complied with the terms of their restructured agreement. As of December 31, 2014, total TDRs were $2.8 million, of which $1.8 million were current and have complied with the terms of their restructured agreement. The Company has allocated $4.5 million and $0 in specific allowance for those loans at December 31, 2015 and 2014, respectively.

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015 (dollars in thousands):

        Pre-Modification   Post-Modification
        Outstanding   Outstanding
    Number of   Recorded   Recorded
    Loans   Investment   Investment
Troubled debt restructurings:                
       Commercial   48   $ 78,466   $ 78,466
       Commercial real estate   3     5,049     5,049
       Commercial construction   1     661     661
       Residential real estate   1     110     110
       Consumer   1     4     4
 
                     Total   54   $ 84,290   $ 84,290



The increase in performing TDRs was due to loans secured by New York City taxi medallions that were modified during the second quarter of 2015. The modifications consisted of a deferral of principal amortization from approximately 25-30 year amortization to interest-only. There was no extension of the loans’ contractual maturity dates, there was no forgiveness of principal, and the interest rates on these loans were increased from approximately 3%-3.25% to 3.75%. These loans were accruing prior to modification and remained in accrual status post-modification.

The $4.5 million in specific allocations associated with taxi medallion lending referred to above was calculated based on the fair value of the collateral, and excludes any consideration for the personal guarantees of borrowers, which provides an additional source of repayment but cannot be relied upon. The valuation per corporate medallion used for the calculation at December 31, 2015 was approximately $800,000. A specific allocation was required at December 31, 2015 primarily due to a decline in the value of taxi medallions.

The TDRs described above increased the allowance for loan and lease losses by $4.5 million. There were no charge-offs in connection with a loan modification at the time of modification during the year ended December 31, 2015. There were no troubled debt restructurings for which there was a payment default within twelve months following the modification during the year ended December 31, 2015.

The following table presents loans by segment modified as troubled debt restructurings that occurred during the year ended December 31, 2014 (dollars in thousands):

        Pre-Modification   Post-Modification
        Outstanding   Outstanding
    Number of   Recorded   Recorded
    Loans   Investment   Investment
Troubled debt restructurings:                
       Commercial   1   $ 672   $ 289
       Commercial real estate   -     -     -
       Commercial construction   -     -     -
       Residential real estate   2     275     272
 
              Total   3   $ 947   $ 561



The TDRs presented as of December 31, 2014 did not increase the allowance for loan and lease losses and resulted in charge-offs of $333,000 during the year ended December 31, 2014. There were no troubled debt restructurings for which there was a payment default within twelve months following the modification during the year ended December 31, 2014.

There were no troubled debt restructurings that occurred during the year ended December 31, 2013.
v3.3.1.900
Premises and Equipment
 12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
Premises and Equipment Disclosure [Text Block]

Note 6 - Premises and Equipment

Premises and equipment are summarized as follows:

  Estimated            
  Useful Life            
  (Years)   2015   2014
  (dollars in Thousands)
Land -   $ 2,403   $ 2,403
Buildings 20-40     16,490     16,490
Furniture, fixtures and equipment 3-7     27,235     24,809
Leasehold improvements 10-20     12,230     10,757
       Subtotal       58,358     54,459
Less: accumulated depreciation and              
              amortization       35,291     32,977
       Subtotal       23,067     21,482
Less: fair value adjustment for              
acquired leases       (734)     (829)
       Total premises and equipment, net     $       22,333   $       20,653

 

Depreciation and amortization expense of premises and equipment was $2.3 million, $1.5 million and $0.9 million for 2015, 2014 and 2013, respectively.

Capital Leases: As a result of the Merger, the Company acquired a lease agreement for a building under a capital lease. The lease arrangement requires monthly payments through 2028.

The Company has included this lease in premises and equipment as follows (dollars in thousands):

  2015   2014
Capital Lease $        3,422   $        3,422
Less: accumulated amortization   1,198     1,026
  $ 2,224   $ 2,396

 

The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments at December 31, 2015 (dollars in thousands):

2016 $ 292
2017   292
2018   292
2019   321
2020   321
Thereafter   2,699
              Total minimum lease payments   4,217
 
Less amount representing interest   1,332
Present value of net minimum    
       lease payments $       2,885

 

Operating Leases: Occupancy and equipment expense includes rentals for premises and equipment of $2,136,000 in 2015, $1,557,000 in 2014 and $1,094,000 in 2013. At December 31, 2014, the Company was obligated under a number of noncancelable leases for premises and equipment, many of which provide for increased rentals based upon increases in real estate taxes and the cost of living index. These leases, most of which have renewal provisions, are principally operating leases.

Future minimum lease payments under these leases are as follows (dollars in thousands)

2016 $       1,915
2017   1,548
2018   1,481
2019   1,350
2020   1,284
Thereafter   5,463

 
v3.3.1.900
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

Note 7 - Goodwill and Other Intangible Assets

A goodwill impairment test is required under ASC 350, Intangibles – Goodwill and Other, and the FASB issued ASU No. 2011-08, “Testing Goodwill for Impairment,” allowing an initial qualitative assessment of goodwill commonly known as step zero impairment testing. In general, the step zero test allows an entity to first assess qualitative factors to determine whether it is more likely than not (i.e., more than 50%) that the fair value of a reporting unit is less than its carrying value. If a step zero impairment test results in the conclusion that it is more likely than not that the fair value of the reporting unit exceeds its carrying value, then no further testing is required.

Step zero impairment testing is an assessment of qualitative factors that affect the likelihood of impairment.Based upon management’s review, the Company’s intangible assets were not impaired and there has been no impairment through December 31, 2015. Management concludes that the ASC 350 goodwill step zero test has been passed, and no further testing is required.

Goodwill

The change in goodwill during the year is as follows (dollars in thousands):

  2015   2014
Beginning of year $        145,909   $ 16,804
Acquired goodwill   -            129,105
Impairment   -     -
End of year $ 145,909   $ 145,909

 

Acquired Intangible Assets

The table below provides information regarding the carrying amounts and accumulated amortization of total amortized intangible assets as of the dates set forth below.

  Gross         Net
  Carrying   Accumulated   Carrying
  Amount   Amortization   Amount
  (dollars in thousands)  
As of December 31, 2015:                
       Core deposit intangibles $        6,011   $        (2,103)   $        3,908
 
As of December 31, 2014:                
       Core deposit intangibles $ 6,011   $ (1,186)   $ 4,825

 

Aggregate amortization expense was $917,000, $507,000 and $30,000 for 2015, 2014 and 2013. Estimated amortization expense for each of the next five years (in thousands):

2016 $         820
2017   724
2018   627
2019   531
2020   434
v3.3.1.900
Deposits
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Deposit Liabilities Disclosures [Text Block]

Note 8 - Deposits

Time Deposits

As of December 31, 2015 and 2014, the Company's total time deposits were $774.7 million and $669.4 million, respectively. As of December 31, 2015, the contractual maturities of these time deposits were as follows:

(dollars in thousands)   Amount
2016   $ 344,224
2017     173,629
2018     163,046
2019     86,562
2020     7,256
Total   $        774,717



The amount of time deposits with balances of $250,000 or more was $142.8 million and $108.0 million as of December 31, 2015 and 2014, respectively.
v3.3.1.900
Borrowed Funds
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

Note 9 - Borrowed Funds:

The Company’s FHLB and other borrowings and weighted average interest rates are summarized below:

  December 31, 2015   December 31, 2014
  Amount   Rate   Amount   Rate
  (in thousands)
By type of borrowing:                  
       FHLB borrowings $          656,587            1.26%   $          464,553            1.18%
       Repurchase agreements   15,000   5.95%     31,000   5.90%
Total borrowings $ 671,587   1.37%   $ 495,553   1.48%
 
By remaining period to maturity:                  
       One year or less $ 270,587   0.64%     258,553   0.50%
       One to two years   171,000   1.56%     30,000   1.40%
       Two to three years   130,000   1.84%     71,000   2.33%
       Three to four years   35,000   1.60%     96,000   2.67%
       Four to five years   65,000   2.82%     -    
       Greater than five years   -         40,000   3.42%
Total borrowings $ 671,587   1.37%   $ 495,553   1.48%



The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans.

The Company has entered into agreements under which it has sold securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. The obligation to repurchase the securities is reflected as a liability in the Company’s consolidated statement of condition, while the securities underlying the securities sold under agreements to repurchase remain in the respective asset accounts and are delivered to and held as collateral by third party trustees.

Three of the FHLB notes ($2,500,000 and $7,500,000 each due April 2, 2018, and $5,000,000 due July 16, 2018) contain a convertible option which allows the FHLB, at quarterly intervals, to convert the fixed convertible advance into replacement funding for the same or lesser principal based on any advance then offered by the FHLB at its current market rate. The Company has the option to repay these advances, if converted, without penalty. The remaining advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances are fixed rate while the REPOs are variable rate advances. The advances at December 2015 were collateralized by approximately $1.2 billion of commercial mortgage loans, net of required over collateralization amounts, under a blanket lien arrangement. At December 31, 2015 the Company had remaining borrowing capacity of approximately at FHLB of $536 million.
v3.3.1.900
Securities Sold under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2015
Securities Sold under Agreements to Repurchase [Abstract]  
Securities Sold under Agreements to Repurchase [Text Block]

Note 10 – Securities Sold under Agreements to Repurchase

Repurchase agreements are secured borrowings. The Company pledges investment securities to secure those borrowings. Information concerning repurchase agreements is summarized as follows:

    2015   2014   2013
Average daily balance during the year   $       22,890   $       31,000   $       31,000
Average interest rate during the year     5.92%     5.90%     5.90%
Maximum month-end balance during the year   $ 31,000   $ 31,000   $ 31,000%
Weighted average interest rate during the year     5.92%     5.90%     5.90%



The table below shows the remaining contractual maturity of agreement by fair value of collateral pledged:

    2015
    Remaining Contractual Maturity of the Agreements
    Overnight and   Up to 30         Greater Than      
    Continuous   Days   30-90 Days   90 Days   Total
Repurchase agreements and                              
Repurchase-to-maturity transactions                              
      U.S. Treasury and agency securities   $ -   $ -   $ -   $ 6,313   $ 6,313
      Residential mortgage pass-through securities     -     -     -     12,589     12,589
Total Borrowings   $ -   $ -   $ -   $ 18,902   $ 18,902
 
Amounts related to agreements not included in offsetting disclosure in Note 13   $ 3,902



The fair value of securities pledged to secure repurchase agreement may decline. The Company manages this risk by having a policy to pledge securities valued at 8% above the gross outstanding balance of repurchase agreement. Securities sold under agreements to repurchase are secured by securities with a carrying amount of $18.8 million and $40.0 million at year-end 2015 and 2014.
v3.3.1.900
Subordinated Debentures
 12 Months Ended
Dec. 31, 2015
Subordinated Borrowings [Abstract]  
Subordinated Debentures [Text Block]

Note 11 - Subordinated Debentures

During 2003, the Company formed a statutory business trust, which exists for the exclusive purpose of (i) issuing Trust Securities representing undivided beneficial interests in the assets of the Trust; (ii) investing the gross proceeds of the Trust securities in junior subordinated deferrable interest debentures (subordinated debentures) of the Company; and (iii) engaging in only those activities necessary or incidental thereto. On December 19, 2003, Center Bancorp Statutory Trust II, a statutory business trust and wholly-owned subsidiary of the Parent Corporation issued $5.0 million of, MMCapS capital securities to investors due on January 23, 2034. The capital securities presently qualify as Tier 1 capital. The trust loaned the proceeds of this offering to the Company and received in exchange $5.2 million of the Parent Corporation’s subordinated debentures. The subordinated debentures are redeemable in whole or in part prior to maturity. The floating interest rate on the subordinate debentures is three-month LIBOR plus 2.85% and reprices quarterly. The rate at December 31, 2015 was 3.17%. These subordinated debentures and the related income effects are not eliminated in the consolidated financial statements as the statutory business trust is not consolidated in accordance with FASB ASC 810-10. Distributions on the subordinated debentures owned by the subsidiary trust have been classified as interest expense in the Consolidated Statements of Income.

The following table summarizes the mandatory redeemable trust preferred securities of the Company’s Statutory Trust II at December 31, 2015 and December 31, 2014.

    Securities               Redeemable by
Issuance Date   Issued   Liquidation Value   Coupon Rate   Maturity   Issuer Beginning
12/19/2003   $      5,000,000   $1,000 per Capital   Floating 3-month   01/23/2034   01/23/2009
          Security   LIBOR + 285 Basis        
              Points        



During June 2015, the Parent Corporation issued $50 million in aggregate principal amount of fixed-to-floating rate subordinated notes (the “Notes”) to certain institutional investors. The Notes are non-callable for five years, have a stated maturity of July 1, 2025, and bear interest at a fixed rate of 5.75% per year, from and including June 30, 2015 to, but excluding July 1, 2020. From and including July 1, 2020 to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month LIBOR rate plus 393 basis points. As of December 31, 2015, unamortized costs related to the debt issuance were $812,000.

The net proceeds from the sale of the Notes is expected to be used to redeem, before March 31, 2016, $11.3 million of Senior Noncumulative Perpetual Preferred Stock issued in 2011 to the U.S. Treasury under the Small Business Lending Fund Program, and for general corporate purposes, which included the Parent Corporation contributing $35.0 million of common equity to the Bank on June 30, 2015.

In connection with the issuance of the Notes, the Parent Corporation obtained ratings from Kroll Bond Rating Agency (“KBRA”). KBRA assigned investment grade ratings of BBB- for the Company’s subordinated debt and a senior deposit rating of BBB+ for the Bank.
v3.3.1.900
Income Taxes
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

Note 12 - Income Taxes

The current and deferred amounts of income tax expense for 2015, 2014 and 2013 are as follows (dollars in thousands):

    2015   2014   2013
Current:                  
Federal   $      22,512   $      7,715   $      5,658
State     907     946     87
Subtotal     23,419     8,661     5,745
Deferred:                  
Federal     (3,835)     223     1,906
State     342     (39)     (167)
Subtotal     (3,493)     184     1,739
Income tax expense   $ 19,926   $ 8,845   $ 7,484



Actual income tax expense differs from the tax computed based on pre-tax income and the applicable statutory federal tax rate for the following reasons (dollars in thousands):

    2015   2014   2013
Income before income tax expense   $      61,237   $      27,410   $      27,409
Federal statutory rate     35%     35%     35%
Computed “expected” Federal income tax                  
       expense     21,433     9,593     9,593
State tax, net of Federal tax benefit     812     589     (53)
Bank owned life insurance     (624)     (456)     (477)
Tax-exempt interest and dividends     (1,584)     (1,511)     (1,645)
Other, net     (111)     630     66
Income tax   $ 19,926   $ 8,845   $ 7,484



The tax effects of temporary differences that give rise to significant portions of the deferred tax asset and deferred tax liability at December 31, 2015 and 2014 are presented in the following table:

    2015   2014
    (dollars in thousands)
Deferred tax assets:            
Nonaccrual interest   $      349   $      171
Allowance for loan and lease losses     10,798     5,681
Pension actuarial losses     2,605     2,980
Purchase accounting     7,195     9,221
Deferred compensation     1,479     1,066
Unrealized losses on securities and swaps     422     -
Deferred loan costs, net of fees     460     -
Accrued rent     530     476
Other     25     34
New Jersey net operating loss     -     902
Capital lease     427     389
       Total deferred tax assets   $ 24,290   $ 20,920
Deferred tax liabilities:            
Employee benefit plans   $ 1,370   $ 1,199
Depreciation     1,001     886
Market discount accretion     41     91
Deferred loan costs, net of fees     -     317
Prepaid expenses     341     393
Unrealized gains on securities and swaps     -     2,403
Other     27     64
       Total deferred tax liabilities     2,780     5,353
              Net deferred tax asset   $ 21,510   $ 15,567



In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets for state purposes is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible, while for Federal purposes the deferred tax assets can also be realized through tax carrybacks. Management considers the scheduled reversal of deferred tax liabilities, the projected future taxable income, and tax planning strategies in making this assessment. During 2015 and 2014, based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, the Company believes the net deferred tax assets are more likely than not to be realized. The Company’s federal income tax returns are open and subject to examination from the 2012 tax return year and forward. The Company’s state income tax returns are generally open from the 2011 and later tax return years based on individual state statutes of limitations.
v3.3.1.900
Offsetting Assets and Liabilities
 12 Months Ended
Dec. 31, 2015
Offsetting [Abstract]  
Offsetting Assets and Liabilities [Text Block]

Note 13 – Offsetting Assets and Liabilities

Certain financial instrument-related assets and liabilities may be eligible for offset on the consolidated statements of condition because they are subject to master netting agreements or similar agreements. However, the Company does not elect to offset such arrangements on the consolidated financial statements. The Company enters into interest rate swap agreements with financial institution counterparties. For additional detail regarding interest rate swap agreements refer to Footnote 20 within this section. In the event of default on, or termination of, any one contract, both parties have the right to net settle multiple contracts. Also, certain interest rate swap agreements may require the Company to receive or pledge cash or financial instrument collateral based on the contract provisions.

The Company also entered into an agreement to sell securities subject to an obligation to repurchase the same or similar securities, referred to as a repurchase agreement. Under this agreement, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. The obligation to repurchase the securities is reflected as a liability in the Company’s consolidated statement of condition, while the securities underlying the repurchase agreements remain in the respective investment securities account, therefore there is no offsetting or netting of the investment securities assets with the repurchase agreement liability. The following table presents information about financial instruments that are eligible for offset as of December 31, 2015 and December 31, 2014:

                      Gross Amounts Not Offset
          Gross Amounts                        
          Offset in the   Net Amounts         Cash or      
          Statement of   of Assets Presented   Financial   Financial      
    Gross Amounts   Financial   in the Statement of   Instruments   Instrument   Net
    Recognized   Position   Financial Position   Recognized   Collateral   Amount
    (in thousands)
December 31, 2015                                    
Assets:                                    
       Interest rate                                    
       swaps   $      —   $     —   $     —   $     —   $     —   $     —
Liabilities:                                    
       Interest rate                                    
       swaps   $ 131   $ —   $ 131   $ —   $ 131   $ —
       Repurchase                                    
              agreements     15,000     —     15,000     —     15,000     —
                     Total   $ 15,131   $ —   $ 15,131   $ —   $ 15,131   $ —
December 31, 2014                                    
Assets:                                    
       Interest rate                                    
       swaps   $ 48   $ —   $ 48   $ —   $ —   $ 48
Liabilities:                                    
       Interest rate                                    
       swaps   $ —   $ —   $ —   $ —   $ —   $ —
       Repurchase                                    
              agreements     31,000     —     31,000     —     31,000     —
                     Total   $ 31,000   $ —   $ 31,000   $ —   $ 31,000   $ —



For the year ended December 31, 2014 there was no financial collateral pledged to our interest rate swaps. As these swap positions were not within the contractually agreed upon collateral requirement there was no collateral pledged to, or from, the respective counterparties.
v3.3.1.900
Commitments, Contingencies and Concentrations of Credit Risk
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 14 - Commitments, Contingencies and Concentrations of Credit Risk

In the normal course of business, the Company has outstanding commitments and contingent liabilities, such as standby and commercial letters of credit, unused portions of lines of credit and commitments to extend various types of credit. Commitments to extend credit and standby letters of credit generally do not exceed one year.

These financial instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the consolidated financial statements. The commitment or contract amount of these financial instruments is an indicator of the Company’s level of involvement in each type of instrument as well as the exposure to credit loss in the event of nonperformance by the other party to the financial instrument.

The Company controls the credit risk of these financial instruments through credit approvals, limits and monitoring procedures. To minimize potential credit risk, the Company generally requires collateral and other credit-related terms and conditions from the customer. In the opinion of management, the financial condition of the Company will not be materially affected by the final outcome of these commitments and contingent liabilities.

A substantial portion of the Bank’s loans are secured by real estate located in New Jersey and New York. Accordingly, the collectability of a substantial portion of the loan portfolio of the Bank is susceptible to changes in the metropolitan New York real estate market.

The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2015 and 2014:

    2015   2014
    (dollars in thousands)
Commitments under commercial loans and lines of credit   $      278,201   $      236,447
Home equity and other revolving lines of credit     52,191     56,031
Outstanding commercial mortgage loan commitments     273,552     169,043
Standby letters of credit     20,895     27,500
Overdraft protection lines     770     800
Total   $ 625,609   $ 489,821



The Company is subject to claims and lawsuits that arise in the ordinary course of business. Based upon the information currently available in connection with such claims, it is the opinion of management that the disposition or ultimate determination of such claims will not have a material adverse impact on the consolidated financial position, results of operations, or liquidity of the Company.
v3.3.1.900
Transactions with Executive Officers, Directors and Principal Stockholders
 12 Months Ended
Dec. 31, 2015
Leases [Abstract]  
Sale Leaseback Transaction Disclosure [Text Block]

Note 15 – Transactions with Executive Officers, Directors and Principal Stockholders

Loans to principal officers, directors, and their affiliates during the years ended December 31, 2015 and 2014, were as follows (dollars in thousands):

    2015   2014
Beginning balance   $      44,353   $      20,365
New loans     -     150
Loans assumed in Merger     -     31,325
Repayments     (5,121)     (7,487)
 
Ending balance   $ 39,232   $ 44,353

 

Deposits from principal officers, directors, and their affiliates at December 31, 2015 and 2014 were $29,586,000and $19,400,000, respectively.

The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal stockholders, their immediate families and affiliated companies (commonly referred to as related parties). The Company leases branch facilities from related party entities. In addition, the Company also utilizes an advertising and public relations agency at which one of the Company’s directors is President and CEO and a principal owner. For these transactions, the expenses are not significant to the operations of the Company.
v3.3.1.900
Stockholders' Equity and Regulatory Requirements
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

Note 16 - Stockholders’ Equity and Regulatory Requirements

On September 15, 2011, the Company issued $ 11.25 million in nonvoting senior preferred stock to the Treasury under the Small Business Lending Fund Program (“SBLF Program”). Under the Securities Purchase Agreement, the Company issued to the Treasury a total of 11,250 shares of the Company’s Senior Noncumulative Perpetual Preferred Stock, Series B, having a liquidation value of $1,000 per share. Simultaneously, using the proceeds from the issuance of the SBLF Preferred Stock, the Company redeemed from the Treasury, all 10,000 outstanding shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, liquidation amount $1,000 per share, for a redemption price of $10,041,667, including accrued but unpaid dividends up to the date of redemption. The current dividend rate is 1.0% and will increase to 9.0% on March 15, 2016. The Company expects to repurchase all outstanding $11.25 million SBLF preferred stock by March 31, 2016.

Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, an certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The final rules implementing Basel Committee on Banking Supervisions’ capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi- year schedule, and fully phased in by January 1, 2019. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. Capital amounts and ratios for December 31, 2014 are calculated using Basel I rules. Management believes as of December 31, 2015, the Bank and the Parent Corporation meet all capital adequacy requirements which they are subject.

Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is growth and expansion, and capital restoration plans are required. At year-end, 2015 and 2014, the most recent regulatory notifications categorized the Banks as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category.

The following is a summary of the Bank’s and the Parent Corporation’s actual capital amounts and ratios as of December 31, 2015 and 2014, compared to the FRB and FDIC minimum capital adequacy requirements and the FRB and FDIC requirements for classification as a well-capitalized institution.

                        For Classification
                        Under Corrective
              Minimum   Action Plan
        Capital Adequacy   as Well Capitalized
    Amount   Ratio   Amount   Ratio   Amount   Ratio
The Bank   (dollars in thousands)
December 31, 2015                              
       Leverage (Tier 1)                              
       capital   $      372,979   9.96%   $      149,724   4.00%   $      187,154   5.00%
Risk-Based                              
       Capital:                              
CET 1   $ 372,979   10.55%   $ 159,028   4.50%   $ 229,707   6.50%
Tier 1     372,979   10.55%     212,037   6.00%     282,716   8.00%
Total     399,551   11.31%     282,716   8.00%     353,395   10.00%
December 31, 2014                              
       Leverage (Tier 1)                              
       capital   $ 300,399   9.33%   $ 128,729   4.00%   $ 160,911   5.00%
Risk-Based                              
       Capital:                              
Tier 1   $ 300,399   10.40%   $ 115,493   4.00%   $ 173,239   6.00%
Total     314,769   10.90%     230,986   8.00%     288,732   10.00%

 

              Minimum Capital   For Classification
        Adequacy   as Well Capitalized
    Amount   Ratio   Amount   Ratio   Amount   Ratio
The Company   (dollars in thousands)
December 31, 2015                            
       Leverage (Tier 1)                            
       capital   $      339,544   9.07%   $      149,776   4.00%   N/A   N/A
Risk-Based                            
       Capital:                            
CET 1   $ 323,139   9.14%   $ 159,078   4.50%   N/A   N/A
Tier 1     339,544   9.61%     212,104   6.00%   N/A   N/A
Total     416,116   11.77%     282,805   8.00%   N/A   N/A
December 31, 2014                            
       Leverage (Tier 1)                            
       capital   $ 301,593   9.37%   $ 128,747   4.00%   N/A   N/A
Risk-Based                            
       Capital:                            
Tier 1   $ 301,593   10.44%   $ 115,561   4.00%   N/A   N/A
Total     315,963   10.94%     231,121   8.00%   N/A   N/A

 
v3.3.1.900
Comprehensive Income
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Comprehensive Income (Loss) Note [Text Block]

Note 17 - Comprehensive Income

Total comprehensive income includes all changes in equity during a period from transactions and other events and circumstances from nonowner sources. The Company’s other comprehensive income (loss) is comprised of unrealized holding gains and losses on securities available-for-sale, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, net of taxes.

                      Affected Line Item in the
Details about Accumulated Other   Amounts Reclassified from Accumulated   Statement Where Net Income is
Comprehensive Income Components   Other Comprehensive Income   Presented
    Twelve Months Ended    
    December 31,    
(dollars in thousands)   2015   2014   2013    
OTTI losses   $      -   $      -   $      (652)   Net investment securities gains
      -     -     178   Tax benefit (expense)
      -     -     (474)   Net of tax
Sale of investment securities available-for-                      
sale     3,931     2,818     2,363   Net investment securities gains
      (1,564)     (986)     (645)   Tax benefit (expense)
      2,367     1,832     1,718   Net of tax
Amortization of unrealized holding (losses)                      
gains on securities transferred from                      
available-for-sale to held-to-maturity     (220)     (215)     58   Interest income
      90     91     (19)   Tax benefit (expense)
      (130)     (124)     39   Net of tax
Amortization of net pension plan
actuarial losses		     (433)     (204)     (654)   Employee benefits expense
      177     83     267   Tax benefit (expense)
      (256)     (121)     (387)   Net of tax
Total reclassification   $ 1,981   $ 1,587   $ 896   Net of tax



Accumulated other comprehensive loss at December 31, 2015 and 2014 consisted of the following:

    2015   2014
    (dollars in thousands)
Investment securities available for sale, net of tax   $      713   $      4,874
Cash flow hedge, net of tax     (77)     28
Unamortized component of securities transferred from            
       available-for-sale to held-to-maturity, net of tax     (1,173)     (1,301)
Defined benefit pension and post-retirement plans, net of tax     (4,072)     (4,615)
Total   $ (4,609)   $ (1,014)
v3.3.1.900
Pension and Other Benefits
 12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Benefits Disclosure [Text Block]

Note 18 - Pension and Other Benefits

Defined Benefit Plans

The Company maintains a frozen noncontributory pension plan covering employees of the Company prior to the Merger. The benefits are based on years of service and the employee’s compensation over the prior five-year period. The plan’s benefits are payable in the form of a ten year certain and life annuity. The plan is intended to be a tax-qualified defined benefit plan under Section 401(a) of the Internal Revenue Code. Payments may be made under the Pension Plan once attaining the normal retirement age of 65 and are generally equal to 44% of a participant’s highest average compensation over a 5-year period.

The following table sets forth changes in projected benefit obligation, changes in fair value of plan assets, funded status, and amounts recognized in the consolidated statements of condition for the Company’s pension plans at December 31, 2015 and 2014.

    2015   2014
    (dollars in thousands)
Change in Benefit Obligation:            
Projected benefit obligation at beginning of year   $      15,074   $      13,569
Interest cost     519     576
Actuarial (gain) loss     (466)     2,023
Benefits paid     (717)     (701)
Settlements     (1,342)     (393)
Projected benefit obligation at end of year   $ 13,068   $ 15,074
 
Change in Plan Assets:            
Fair value of plan assets at beginning year   $ 10,414   $ 11,026
Actual return on plan assets     (296)     413
Employer contributions     2,000     -
Benefits paid     (717)     (701)
Settlements     (1,114)     (324)
Fair value of plan assets at end of year   $ 10,287   $ 10,414
Funded status   $ (2,781)   $ (4,660)



The accumulated benefit obligation was $13.1 million and $15.1 million as of the year ended December 31, 2015 and 2014, respectively.

Amounts recognized as a component of accumulated other comprehensive loss as of year-end that have not been recognized as a component of the net periodic pension expense for the plan are presented in the following table. The Company expects to recognize approximately $295,000 of the net actuarial loss reported in the following table as of December 31, 2015 as a component of net periodic pension expense during 2016.

    2015   2014
Net actuarial loss recognized in accumulated other            
comprehensive income   $      6,677   $      7,595



The net periodic pension expense and other comprehensive income (before tax) for 2015, 2014 and 2013 includes the following:

    2015   2014   2013
    (dollars in thousands)
Interest cost   $      519   $      576   $      529
Expected return on plan assets     (562)     (596)     (488)
Net amortization     433     223     375
Recognized settlement loss     650     1     -
Total net periodic pension expense   $ 1,040   $ 204   $ 416
                   
Total (gain) loss recognized in other comprehensive
       income		     (918)     1,896     (654)
Total recognized in net periodic expense and other
       comprehensive income (before tax)		   $ 122   $ 2,100   $ (238)



The following table presents the assumptions used to calculate the projected benefit obligation in each of the last three years.

    2015   2014   2013
Discount rate   4.06%   3.76%   4.84%
Rate of compensation increase   N/A   N/A   N/A
Expected long-term rate of return on plan assets   5.50%   5.50%   5.50%



The following information is provided for the year ended December 31:

    2015   2014   2013
    (dollars in thousands)
Weighted average assumptions used to determine net            
       periodic benefit cost for years ended December 31            
Discount rate   3.76%   4.84%   4.03%
Expected long-term return on plan assets   5.50%   5.50%   5.50%
Rate of compensation increase   N/A   N/A   N/A



The process of determining the overall expected long-term rate of return on plan assets begins with a review of appropriate investment data, including current yields on fixed income securities, historical investment data, historical plan performance and forecasts of inflation and future total returns for the various asset classes. This data forms the basis for the construction of a best-estimate range of real investment return for each asset class. An average, weighted real-return range is computed reflecting the plan’s expected asset mix, and that range, when combined with an expected inflation range, produces an overall best-estimate expected return range. Specific factors such as the plan’s investment policy, reinvestment risk and investment volatility are taken into consideration during the construction of the best estimate real return range, as well as in the selection of the final return assumption from within the range.

Plan Assets

The general investment policy of the Pension Trust is for the fund to experience growth in assets that will allow the market value to exceed the value of benefit obligations over time. The Company’s pension plan asset allocation as of December 31, 2015 and 2014, target allocation for 2016, and expected long-term rate of return by asset are as follows:

                    Weighted
                    Average
        % of Plan   % of Plan   Expected
        Assets –   Assets –   Long-Term
    Target   Year Ended   Year Ended   Rate of
No Related Allowance Recorded   Allocation   2015   2014   Return
Equity Securities                      
       Domestic   48%     47%     42%     2.9%
       International   13%     15%     13%     0.8%
Debt and/or fixed income securities   29%     28%     36%     1.3%
Mutual funds   8%     8%     -     0.5%
Cash and other alternative investments,                      
including real estate funds, hedge funds and                      
equity structured notes   2%     2%     9%     0%
Total   100%   $      100%   $      100%   $      5.5%



The fair values of the Company’s pension plan assets at December 31, 2015 and 2014, by asset class, are as follows:

    December 31,                  
    2015   Fair Value Measurements at Reporting Date Using
          Quoted Prices   Significant      
          in Active   Other   Significant
          Markets for   Observable   Unobservable
          Identical Assets   Inputs   Inputs
Asset Class         (Level 1)   (Level 2)   (Level 3)
    (dollars in thousands)
Cash   $      114   $      114   $      -   $      -
Equity securities:                        
       U.S. companies     4,832     4,832     -     -
       International                        
              companies     1,584     1,584     -     -
Debt and/or fixed                        
income securities     2,904     2,904            
Real estate funds     73     73     -     -
Mutual funds     780     780     -     -
       Total   $ 10,287   $ 10,287   $ -   $ -
 
 
    December 31,                  
    2014   Fair Value Measurements at Reporting Date Using
          Quoted Prices   Significant      
          in Active   Other   Significant
          Markets for   Observable   Unobservable
          Identical Assets   Inputs   Inputs
Asset Class         (Level 1)   (Level 2)   (Level 3)
    (dollars in thousands)
Cash   $ 869   $ 869   $ -   $ -
Equity securities:                        
       U.S. companies     4,304     4,304     -     -
       International                        
              companies     1,394     1,394     -     -
Debt and/or fixed                        
income securities     3,754     3,754            
Real estate funds     93     93     -     -
       Total   $ 10,414   $ 10,414   $ -   $ -



Fair Value of Plan Assets

The Company used the following valuation methods and assumptions to estimate the fair value of assets held by the plan:

Equity securities and real estate funds: The fair values for equity securities and real estate funds are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2).

Debt and fixed income securities: Certain debt securities are valued at the closing price reported in the active market in which the bond is traded (Level 1 inputs). Other debt securities are valued based upon recent bid prices or the average of recent bid and asked prices when available (Level 2 inputs) and, if not available, they are valued through matrix pricing models developed by sources considered by management to be reliable. Matrix pricing, which is a mathematical technique commonly used to price debt securities that are not actively traded, values debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Discounted cash flows are calculated using spread to swap and LIBOR curves that are updated to incorporate loss severities, volatility, credit spread and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations.

The investment manager is not authorized to purchase, acquire or otherwise hold certain types of market securities (subordinated bonds, real estate investment trusts, limited partnerships, naked puts, naked calls, stock index futures, oil, gas or mineral exploration ventures or unregistered securities) or to employ certain types of market techniques (margin purchases or short sales) or to mortgage, pledge, hypothecate, or in any manner transfer as security for indebtedness, any security owned or held by the Plan.

Cash Flows

Contributions

The Bank expects to contribute $2.0 million to its Pension Trust in 2016.

The Moving Ahead for Progress in the 21st Century Act, which was enacted on July 6, 2012, contained special rules related to funding stabilization for single employer defined benefit plans. Under these provisions, the interest rates used to calculate the plan’s funding percentages and minimum required contribution are adjusted as necessary to fall within a specified range that is determined based on an average of rates for the 25 year period ending on September 30 of the calendar year preceding the first day of the Plan year. For Plan years beginning in 2013, the range is 85 % - 115 % of the 25 year average. The application of the adjusted rates produced a 2013 required minimum contribution to the Plan to approximately $400,000. However, a decision was made to contribute a total of $3,700,000 for the 2013 plan year in order to make significant progress toward fully funding Plan liabilities and that amount has been contributed for the 2013 Plan Year.

Estimated Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, for the following years are as follows (in thousands):

2016   $      744
2017     744
2018     733
2019     744
2020     751
2021-2025     3,765



401(k) Benefit Plan

The Company maintains a 401(k) employee savings plan to provide for defined contributions which covers substantially all employees of the Company. Beginning with the 2013 Plan Year, the Plan was amended to provide for a 3% nonelective safe harbor contribution for all participants. For 2015, 2014 and 2013, employer contributions amounted to $338,000, $291,000 and $265,000, respectively.
v3.3.1.900
Stock Based Compensation
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 19 - Stock Based Compensation

The Company maintains three stock-based compensation plans from which new grants could be issued. The Company’s stock-based compensation plans permit Parent Corporation common stock to be issued to key employees and directors of the Company and its subsidiaries. Grants under the existing plans can be in the form of stock options (qualified or non-qualified), restricted shares, or performance units. Shares available for grant and issuance under the existing plans as of December 31, 2015 are as follows: 202,219 under the 2009 Equity Incentive Plan, 380,644 under the 2003 Non-Employee Director Stock Option Plan, and 235,090 shares under the North Jersey Community Bancorp 2009 Equity Compensation Plan. The Company intends to issue all shares under these plans in the form of newly issued shares.

Restricted stock and option awards typically have a three-year vesting period starting one year after the date of grant with one-third vesting each year. The options generally expire ten years from the date of grant. Restricted stock awards granted to new employees and board members may be granted with shorter vesting periods. Grants of performance units typically have a cliff vesting after 3 years. All issuances are subject to forfeiture if the recipient leaves or is terminated prior to the awards vesting. Restricted shares have the same dividend and voting rights as common stock while options and performance units do not.

All awards are issued at fair value of the underlying shares at the grant date. Shares issued by Legacy ConnectOne prior to its IPO in 2013 were granted at book value per share as of the grant date. The Company expenses the cost of the awards, which is determined to be the fair market value of the awards at the date of grant, ratably over the vesting period.

No options were granted in 2015 or 2014. In 2013, 41,639 stock options were issued. Total compensation expense related to options granted under the plans was $12,000, $58,000 and $59,000 for 2015, 2014 and 2013, respectively.

During 2015, 69,258 restricted shares were awarded. During 2014 no restricted shares were issued and during 2013, 18,829 shares were awarded. The compensation expense related to restricted stock awards was $746,000, $165,000 and $24,000 in 2015, 2014 and 2013, respectively.

In 2015, the Company granted to various key employees performance unit awards, with each unit entitling the holder to one share of the Company’s common stock contingent upon the Company meeting or exceeding certain return on asset targets over the course of a three-year period commencing January 1, 2015. Under the agreement, and assuming the Company has met or exceeded the applicable targets, grants of performance unit awards will vest on the third anniversary of the grant date or on an earlier date in the event of a change in control, as defined in the agreement. At December 31, 2015, the specific number of shares related to performance unit awards that were expected to vest was 94,585, determined by actual performance in consideration of the established range of the performance targets, which is consistent with the level of expense currently being recognized over the vesting period. Should this expectation change, additional compensation expense could be recorded in future periods or previously recognized expense could be reversed. The maximum amount of performance unit awards is 113,502 shares. The total amount of compensation cost related to performance unit awards included in salary expense was $409,000 in 2015. No performance units were issued in 2014 or 2013 and no expenses relating to performance units were included for 2014 or 2013.

The fair value of stock option payment awards was estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values:

  2015   2014   2013
Weighted average fair value of grants $ -   $ -   $ 2.50-2.87
Risk-free interest rate         -%           -%     1.86-2.29%
Dividend yield   -%     -%     1.76-2.11%
Expected volatility   -%     -%          23.21-33.74%
Expected life in months         -     69-90



Option activity under the principal option plans as of December 31, 2015 and changes during the twelve months ended December 31, 2015 were as follows:

            Weighted-      
            Average      
      Weighted-   Remaining      
      Average   Contractual      
      Exercise   Term   Aggregate
  Shares   Price   (In Years)   Intrinsic Value
Outstanding at December 31, 2014 882,657   $ 5.65          
Granted -     -          
 
Exercised (340,492)     4.19          
Forfeited/cancelled/expired (6,259)     5.60          
Outstanding at December 31, 2015 535,906   $ 6.48   3.16   $ 6,541,740
Exercisable at December 31, 2015 532,376   $ 6.43   3.13   $ 6,526,031



Information related to the stock option plan during 2015:

  2015
Intrinsic value of options exercised $      5,218,993
Cash received from options exercised   1,424,814
Tax benefit realized from options exercised   341,000
Weighted average fair value of options granted   -



The aggregate intrinsic value of options above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2015 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2015. This amount changes based on the fair market value of the Parent Corporation’s stock.

The below table represents information regarding restricted shares currently outstanding at December 31, 2015:

      Weighted-
      Average
  Nonvested   Grant Date
  Shares   Fair Value
Nonvested at December 31, 2014 50,303   $ 11.79
Granted 69,258     18.13
Vested (19,061)     11.53
Forfeited/cancelled/expired (3,598)     18.43
Nonvested at December 31, 2015 96,902   $ 16.81



As of December 31, 2015, there was $976,000 of total unrecognized compensation cost related to nonvested restricted shares granted under the plans. The cost is expected to be recognized over a weighted average period of 16.07 months. The total fair value of shares vested during year ended December 31, 2015 and 2014, was $225,000 and 374,000, respectively.

A summary of the status of unearned performance unit awards and the change during the period is presented in the table below:

      Weighted-
      Average
      Grant Date
  Shares   Fair Value
Unearned at December 31, 2014 -   $ -
Awarded 94,585     19.46
Forfeited -     -
Expired -     -
Unearned at December 31, 2015      94,585   $ 19.46



At December 31, 2015, compensation cost of $1,329,345 related to nonvested awards not yet recognized is expected to be recognized over a weighted-average period of 2.2 years.
v3.3.1.900
Dividends and Other Restrictions
 12 Months Ended
Dec. 31, 2015
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract]  
Restrictions on Dividends, Loans and Advances [Text Block]

Note 20 - Dividends and Other Restrictions

 

Certain restrictions, including capital requirements, exist on the availability of undistributed net profits of the Bank for the future payment of dividends to the Parent Corporation. A dividend may not be paid if it would impair the capital of the Bank. At December 31, 2015, approximately $116.8 million was available for payment of dividends based on regulatory guidelines.
v3.3.1.900
Derivatives
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Disclosure [Text Block]

Note 21 – Derivatives

The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swap does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements.

Interest rate swaps were entered into on August 24, 2015, October 15, 2014 and December 30, 2014, each with a respective notional amount of $25.0 million and were designated as a cash flow hedge of a Federal Home Loan Bank advance. The swaps were determined to be fully effective during the period presented and therefore no amount of ineffectiveness has been included in net income. Therefore, the aggregate fair value of the swaps is recorded in other assets (liabilities) with changes in fair value recorded in other comprehensive income (loss). The amount included in accumulated other comprehensive income (loss) would be reclassified to current earnings should the hedges no longer be considered effective. The Company expects the hedges to remain fully effective during the remaining term of the swaps.

Summary information about the interest rate swap designated as a cash flow hedges as of year-end is as follows (dollars in thousands):

  December 31,   December 31,
  2015   2014
Notional amount $ 75,000   $ 50,000
Weighted average pay rates   1.56%     1.58%
Weighted average receive rates   0.44%     0.24%
Weighted average maturity   3.8 years     4.4 years
Fair value $ (131)   $ 48



Interest expense recorded on these swaps transactions totaled approximately $763,500 and $60,000 during 2015 and 2014 and is reported as a component of interest expense on FHLB Advances. There are no related expenses for the years ended December 31, 2013.

Cash Flow Hedge

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 year ended December 31:

    2015
    Amount of loss   Amount of loss   Amount of loss
    recognized   reclassified   recognized in other
    in OCI (Effective   from OCI to   Non-interest income
(in thousands)   Portion)   interest income   (Ineffective Portion)
Interest rate contracts   $ (179)   $ -   $ -
 
          2014      
    Amount of loss   Amount of loss   Amount of loss
    recognized   reclassified   recognized in other
    in OCI (Effective   from OCI to   Non-interest income
(in thousands)   Portion)   interest income   (Ineffective Portion)
Interest rate contracts   $ 48   $ -   $ -



The following table reflects the cash flow hedges included in the Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014:

  2015   2014
  Notional         Notional      
(in thousands) Amount   Fair Value   Amount   Fair Value
Included in other assets/(liabilities):                      
       Interest rate swaps related to FHLB Advances $ 75,000   $ (131)   $ 50,000   $ 48



There were no net gains (losses) recorded in accumulated other comprehensive income or in the Consolidated Statement of Income relating to cash flow derivative instruments for the years ended December 21, 2015 and December 31, 2014.
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

Note 22 - Fair Value Measurements and Fair Value of Financial Instruments

Fair value is 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. There are three levels of inputs that may be used to measure fair value:

FASB ASC 820-10-05 defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurements and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date.

FASB ASC 820-10-65 provides additional guidance for estimating fair value in accordance with FASB ASC 820-10-05 when the volume and level of activity for the asset or liability have significantly decreased. This ASC also includes guidance on identifying circumstances that indicate a transaction is not orderly.

FASB ASC 820-10-05 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820-10-05 are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (for example, supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The following information should not be interpreted as an estimate of the fair value of the entire Corporation since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a recurring basis at December 31, 2015 and December 31, 2014:

Securities Available-for-Sale

Where quoted prices are available in an active market, securities are classified with Level 1 of the valuation hierarchy. Level 1 inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. Examples of instruments, which would generally be classified within Level 2 of the valuation hierarchy, include municipal bonds and certain agency collateralized mortgage obligations. In certain cases where there is limited activity in the market for a particular instrument, assumptions must be made to determine their fair value and are classified as Level 3. When measuring fair value, the valuation techniques available under the market approach, income approach and/or cost approach are used. The Company’s evaluations are based on market data and the Company employs combinations of these approaches for its valuation methods depending on the asset class.

Derivatives

The fair value of derivatives are based on valuation models using observable market data as of the measurement date (level 2). Our derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rate, and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services.

Loans Held for Sale

Loans held for sale are required to be measured at the lower of cost or fair value. Under FASB ASC 820-10-05, market value is to represent fair value. Management obtains quotes or bids on all or part of these loans directly from the purchasing financial institutions.

Loans Receivable

The fair value of performing loans, except residential mortgages, is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risks inherent in the loan. The estimate of maturity is based on the historical experience of the Bank with prepayments for each loan classification, modified as required by an estimate of the effect of current economic and lending conditions. For performing residential mortgage loans, fair value is estimated by discounting contractual cash flows adjusted for prepayment estimates using discount rates based on secondary market sources adjusted to reflect differences in servicing and credit costs.

Off-Balance Sheet Financial Instruments

The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rate and the committed rates.

The fair value of financial standby letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2015 and December 31, 2014 are as follows:

          December 31, 2015
          Fair Value Measurements at Reporting Date Using
          Quoted Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
          Assets   Inputs   Inputs
          (Level 1)   (Level 2)   (Level 3)
(in thousands)                        
Recurring fair value measurements:                        
Assets                        
Investment securities:                        
       Available-for-sale:                        
              Federal agency obligations   $ 29,146   $ -   $ 29,146   $ -
              Residential mortgage pass-                        
                     through securities     44,910     -     44,910     -
              Commercial mortgage pass-                        
                     through securities     2,972     -     2,972     -
              Obligations of U.S. states and                        
                     political subdivision     8,357     -     8,357     -
              Trust preferred securities     16,255     -     16,255     -
              Corporate bonds and notes     53,976     -     53,976     -
              Asset-backed securities     19,725     -     19,725     -
              Certificates of deposit     1,905     -     1,905     -
              Equity securities     374     374     -     -
              Other securities     18,150     18,150     -     -
       Total available-for-sale     195,770     18,524     177,246     -
Loans held for sale     -     -     -     -
       Total assets   $      195,770   $ 18,524   $ 177,246   $ -
Liabilities                        
Derivatives   $ 131   $ -   $ 131   $ -
Total liabilities   $ 131   $ -   $ 131   $ -



        December 31, 2014
        Fair Value Measurements at Reporting Date Using
        Quoted Prices            
        in Active   Significant      
        Markets for   Other   Significant
        Identical   Observable   Unobservable
        Assets   Inputs   Inputs
        (Level 1)   (Level 2)   (Level 3)
(in thousands)                      
Recurring fair value measurements:                      
Assets                      
Investment securities:                      
       Available-for-sale:                      
              Federal agency obligations $ 32,817   $ -   $ 32,817   $ -
              Residential mortgage pass-                      
                     through securities   60,356     -     60,356     -
              Commercial mortgage pass-                      
                     through securities   3,046     -     3,046     -
              Obligations of U.S. states and                      
                     political subdivision   8,406     -     8,406     -
              Trust preferred securities   16,306     -     16,306     -
              Corporate bonds and notes   125,777     -     125,777     -
              Asset-backed securities   27,502     -     27,502     -
              Certificates of deposit   2,123     -     2,123     -
              Equity securities   307     307     -     -
              Other securities   12,892     12,892     -     -
       Total available-for-sale   289,532     13,199     276,333     -
Derivatives   48     -     48     -
       Total assets $      289,580   $ 13,199   $ 276,381   $ -



There were no transfers between Level 1, Level 2 and Level 3 during the years ended December 31, 2015 and 2014.

Assets Measured at Fair Value on a Non-Recurring Basis

The Company may be required periodically to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or fair value accounting or impairment write-downs of individual assets. The Company primarily utilized appraisal value less cost to sell and other unobservable market inputs to determine fair value of assets, and therefore, these valuations are classified as a Level 3 measurement. For assets measured at fair value on a non-recurring basis, the fair value measurements at December 31, 2015 and 2014 are as follows:

Impaired loans   Valuation Techniques   Range of Unobservable Inputs
Commercial   Appraisals of collateral value   Adjustment for age of comparable sales, generally a decline of 0% to 15%. Adjustments for age of lease payments. Market capitalization rates between 4% and 8%.
         
Commercial real estate   Appraisals of collateral value   Market capitalization rates between 8% and 12%. Market rental rates for similar properties



          Fair Value Measurements at Reporting Date Using
          Quoted            
          Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
Assets measured at fair value on a nonrecurring   December 31,   Assets   Inputs   Inputs
basis:   2015   (Level 1)   (Level 2)   (Level 3)
Impaired loans   (in thousands)
Commercial   $ 77,717   $ -   $ -   $ 77,717
 
          Fair Value Measurements at Reporting Date Using
          Quoted            
          Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
Assets Measured at Fair Value on a Non-   December 31,   Assets   Inputs   Inputs
Recurring Basis   2014   (Level 1)   (Level 2)   (Level 3)
Impaired loans   (in thousands)  
Commercial   $ 276   $ -   $ -   $ 276
Commercial real estate     3,369     -     -     3,369



The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a non-recurring basis at December 31, 2015 and December 31, 2014.

Impaired loans -The value of the impaired loans above were measured based upon the fair value of the collateral of the loans. Smaller balance homogeneous loans that are collectively evaluated for impairment, such as residential mortgage loans and consumer loans, are specifically excluded from the impaired loan portfolio. The Company’s impaired loans are primarily collateral dependent. Impaired loans are individually assessed to determine that each loan’s carrying value is not in excess of the fair value of the related collateral. Impaired loans at December 31, 2015 that required a valuation allowance during 2015 were $84.4 million with a related valuation allowance of $6.7 million compared to $3.9 million with a related valuation allowance of $262,000 at December 31, 2014.

Fair Value of Financial Instruments

FASB ASC 825-10 requires all entities to disclose the estimated fair value of their financial instrument assets and liabilities. For the Company, as for most financial institutions, the majority of its assets and liabilities are considered financial instruments as defined in FASB ASC 825-10. Many of the Company’s financial instruments, however, lack an available trading market as characterized by a willing buyer and willing seller engaging in an exchange transaction. It is also the Company’s general practice and intent to hold its financial instruments to maturity and not to engage in trading or sales activities except for loans held-for-sale and investment securities available-for-sale. Therefore, significant estimations and assumptions, as well as present value calculations, were used by the Company for the purposes of this disclosure.

Cash and cash equivalents. The carrying amounts of cash and short-term instruments approximate fair values.

FHLB stock. It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability.

Investment Securities Held-to-Maturity. The fair value of the Company’s investment securities held-to-maturity was primarily measured using information from a third-party pricing service. If quoted prices were not available, fair values were estimated primarily by obtaining quoted prices for similar assets in active markets or through the use of pricing models. In cases where there may be limited or less transparent information provided by the Company’s third-party pricing service, fair value may be estimated by the use of secondary pricing services or through the use of non-binding third-party broker quotes.

Loans. The fair value of the Company’s loans was estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans were segregated by types such as commercial, residential and consumer loans. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments.

Interest-Bearing Deposits. The fair values of the Company’s interest-bearing deposits were estimated using discounted cash flow analyses. The discounted rates used were based on rates currently offered for deposits with similar remaining maturities. The fair values of the Company’s interest-bearing deposits do not take into consideration the value of the Company’s long-term relationships with depositors, which may have significant value.

Term Borrowings and Subordinated Debentures. The fair value of the Company’s long-term borrowings and subordinated debentures were calculated using a discounted cash flow approach and applying discount rates currently offered based on weighted remaining maturities.

Accrued Interest Receivable/Payable. The carrying amounts of accrued interest approximate fair value resulting in a level 2 or level 3 classification based on the level of the asset or liability with which the accrual is associated.

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2015 and December 31, 2014.

              Fair Value Measurements
              Quoted            
              Prices in            
              Active   Significant      
              Markets for   Other   Significant
              Identical   Observable   Unobservable
  Carrying   Fair   Assets   Inputs   Inputs
  Amount   Value   (Level 1)   (Level 2)   (Level 3)
  (in thousands)
December 31, 2015                            
Financial assets                            
Cash and due from banks $ 200,895   $ 200,895   $ 200,895   $ -   $ -
Investment securities available-for-sale   195,770     195,770     18,524     177,246     -
Investment securities held-to-maturity   224,056     230,558     29,226     182,774     18,558
Restricted investment in bank stocks   32,612     n/a     n/a     n/a     n/a
Net loans        3,072,435          3,059,343     -     -     3,059,343
Accrued interest receivable   12,545     12,545     68     2,699     9,778
 
Financial liabilities                            
Noninterest-bearing deposits   650,775     650,775     650,775     -     -
Interest-bearing deposits   2,140,191     2,137,149     -     2,137,149     -
Borrowings   671,587     674,131     -     674,131     -
Subordinated debentures   55,155     55,209     -     55,209     -
Derivatives   131     131     -     131     -
Accrued interest payable   4,387     4,387     -     4,387     -
 
December 31, 2014                            
Financial assets                            
Cash and due from banks $ 126,847   $ 126,847   $ 126,847   $ -   $ -
Investment securities available-for-sale   289,532     289,532     13,199     276,333     -
Investment securities held-to-maturity   224,682     231,445     29,184     183,489     18,772
Restricted investment in bank stocks   23,535     n/a     n/a     n/a     n/a
Net loans   2,524,481     2,538,415     -     -     2,538,415
Derivatives   48     48     -     48     -
Accrued interest receivable   11,700     11,700     68     3,674     7,958
 
Financial liabilities                            
Noninterest-bearing deposits   492,516     492,516     492,516     -     -
Interest-bearing deposits   1,983,091     1,990,484     -     1,990,484     -
Borrowings   495,553     505,641     -     505,641     -
Subordinated debentures   5,155     4,768     -     4,768     -
Accrued interest payable   3,930     3,930     -     3,930     -



The fair value of commitments to originate loans is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date.

Changes in assumptions or estimation methodologies may have a material effect on these estimated fair values.

The Company’s remaining assets and liabilities, which are not considered financial instruments, have not been valued differently than has been customary with historical cost accounting. No disclosure of the relationship value of the Company’s core deposit base is required by FASB ASC 825-10.

Fair value estimates are based on existing balance sheet financial instruments, without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, there are certain significant assets and liabilities that are not considered financial assets or liabilities, such as the brokerage network, deferred taxes, premises and equipment, and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Management believes that reasonable comparability between financial institutions may not be likely, due to the wide range of permitted valuation techniques and numerous estimates which must be made, given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies also introduces a greater degree of subjectivity to these estimated fair values.
v3.3.1.900
Parent Corporation Only Financial Statements
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 23 - Parent Corporation Only Financial Statements

The Parent Corporation operates its wholly-owned subsidiary, the Bank. The earnings of this subsidiary are recognized by the Parent Corporation using the equity method of accounting. Accordingly, earnings are recorded as increases in the Parent Corporation’s investment in the subsidiaries and dividends paid reduce the investment in the subsidiaries. The ability of the Parent Corporation to pay dividends will largely depend upon the dividends paid to it by the Bank. Dividends payable by the Bank to the Parent Corporation are restricted under supervisory regulations (see Note 19 of the Notes to Consolidated Financial Statements).

Condensed financial statements of the Parent Corporation only are as follows:

Condensed Statements of Condition

    At December 31,
    2015   2014
      (Dollars in Thousands)
ASSETS            
Cash and cash equivalents   $ 14,857   $ 274
Investment in subsidiaries     515,934     450,185
Securities available for sale     533     463
Other assets     3,070     2,250
Total assets   $ 534,394   $ 453,172
 
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Other liabilities   $ 1,895   $ 1,798
Subordinated debentures     55,155     5,155
Stockholders’ equity     477,344     446,219
Total liabilities and stockholders’ equity   $      534,394   $      453,172

Condensed Statements of Income

    For Years Ended December 31,
    2015   2014   2013
    (Dollars in Thousands)
Income:                  
Dividend income from subsidiaries   $ 10,537   $ 9,276   $ 4,393
Other income     7     6     6
Net gains on available for sale securities     -     -     22
Management fees     -     100     353
Total Income     10,544     9,382     4,774
Expenses     (1,705)     (707)     (765)
Income before equity in undistributed earnings                  
       of subsidiaries     8,839     8,675     4,009
Equity in undistributed earnings of subsidiaries     32,472     9,890     15,916
Net Income   $      41,311   $      18,565   $      19,925

Condensed Statements of Cash Flows

    For Years Ended December 31
    2015   2014   2013
    (Dollars in Thousands)
Cash flows from operating activities:                  
Net income   $ 41,311   $ 18,565   $ 19,925
Adjustments to reconcile net income to net cash                  
       provided by operating activities:                  
Net gains on sales of available for sale securities     -     -     (22)
Equity in undistributed earnings of subsidiary     (32,472)     (9,890)     (15,916)
 
Increase in other assets     (820)     (1,979)     (167)
Decrease in other liabilities     (1,840)     (1,010)     (276)
Stock based compensation     747     223     59
       Net cash provided by operating activities     6,926     5,909     3,603
Cash flows from investing activities:                  
Proceeds from sales of available-for-sale securities     -     -     181
Capital infusion to subsidiary     (35,000)     -     -
       Net cash provided by (used in) investing activities     (35,000)     -     181
Cash flows from financing activities:                  
 
Proceeds from subordinated debt     50,000     -     -
Cash dividends on common stock     (8,996)     (6,940)     (4,254)
Cash dividends on preferred stock     (112)     (140)     (141)
Issuance of restricted stock award     -     -     243
Issuance cost of common stock     -     (7)     (13)
 
Proceeds from exercise of stock options     1,424     885     21
Tax expense from stock based compensation     341     282     16
       Net cash used in financing activities     42,657     (5,920)     (4,128)
Decrease in cash and cash equivalents     14,583     (11)     (344)
Cash and cash equivalents at beginning of year     274     285     629
Cash and cash equivalents at the end of year   $      14,857   $      274   $      285

 
v3.3.1.900
Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Text Block]

Note 24 - Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited)

    2015
    4th Quarter   3rd Quarter   2nd Quarter   1st Quarter
    (Dollars in Thousands, Except per Share Data)
Total interest income   $ 37,230   $ 36,186   $ 34,181   $ 33,370
Total interest expense     6,774     6,459     5,503     5,078
Net interest income     30,456     29,727     28,678     28,292
Provision for loan and lease losses     5,055     4,175     1,550     1,825
Total other income, net of securities                        
       gains     1,225     1,752     3,215     1,049
Net securities gains     1,138     2,067     221     506
Other expense     13,579     13,301     14,974     12,631
Income before income taxes     14,185     16,070     15,590     15,391
Provision from income taxes     4,617     5,228     5,069     5,012
Net income     9,568     10,842     10,521     10,379
Preferred dividends     28     28     28     28
Net income available to common                        
stockholders     9,540     10,814     10,493     10,351
 
Earnings per share:                        
Basic   $ 0.32   $ 0.36   $ 0.35   $ 0.35
Diluted   $ 0.31   $ 0.36   $ 0.35   $ 0.34
Weighted average common shares                        
       outstanding:                        
Basic     30,033,062     30,045,818     29,868,247     29,757,316
Diluted     30,310,905     30,335,571     30,231,480     30,149,469
 
    2014
    4th Quarter   3rd Quarter   2nd Quarter   1st Quarter
    (Dollars in Thousands, Except per Share Data)
Total interest income   $ 33,130   $ 32,343   $ 14,401   $ 14,337
Total interest expense     4,550     4,797     2,733     2,727
Net interest income     28,580     27,546     11,668     11,610
Provision for loan and lease losses     2,474     1,300     284     625
Total other income, net of securities                        
       gains     1,358     1,062     1,150     1,106
Net securities (losses) gains     718     111     574     1,415
Other expense     15,164     25,400     6,744     7,496
Income before income taxes     13,018     2,019     6,364     6,010
Provision from income taxes     4,995     253     1,986     1,612
Net income     8,023     1,766     4,378     4,398
Preferred dividends     28     28     28     28
Net income available to common                        
stockholders     7,995     1,738     4,350     4,370
 
Earnings per share:                        
Basic   $ 0.27   $ 0.06   $ 0.27   $ 0.27
Diluted   $      0.27   $      0.06   $      0.26   $      0.27
Weighted average common shares                        
       outstanding:                        
Basic     29,699,301     29,636,001     16,372,885     16,350,183
Diluted     30,149,244     30,108,103     16,430,376     16,405,540

Note: Due to rounding, quarterly earnings per share may not sum to reported annual earnings per share.
v3.3.1.900
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Principles of Consolidation, Policy [Policy Text Block]

The consolidated financial statements of ConnectOne Bancorp, Inc. (the “Parent Corporation”) are prepared on an accrual basis and include the accounts of the Parent Corporation and its wholly-owned subsidiary, ConnectOne Bank (the “Bank” and, collectively with the Parent Corporation and the Parent Corporation’s other direct and indirect subsidiaries, the “Company”). All significant intercompany accounts and transactions have been eliminated from the accompanying consolidated financial statements.
Business Policy [Policy Text Block]

The Bank is a community-based, full-service New Jersey-chartered commercial bank that was founded in 2005. The Bank operates from its headquarters located at 301 Sylvan Avenue in the Borough of Englewood Cliffs, Bergen County, New Jersey, through its twenty-one other banking offices. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from business operations. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the cash flows, real estate and general economic conditions in the area. 
Segment Policy [Policy Text Block]

FASB ASC 28, “Segment Reporting,” requires companies to report certain information about operating segments. The Company is managed as one segment; a community bank. All decisions including but not limited to loan growth, deposit funding, interest rate risk, credit risk and pricing are determined after assessing the effect on the totality of the organization. For example, loan growth is dependent on the ability of the organization to fund this growth through deposits or other borrowings. As a result, the Company is managed as one operating segment.
Basis of Financial Statement Presentation, Policy [Policy Text Block]

The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles.
Use of Estimates, Policy [Policy Text Block]

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statement of financial condition and revenues and expenses for the reported periods. These estimates and assumptions affect the amounts reported in the financial statements and the disclosure provided, and actual results could differ.
Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and cash equivalents include cash, deposits with other financial institutions with maturities of less than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, and federal funds purchased and repurchase agreements.
Investment Securities, Policy [Policy Text Block]

The Company accounts for its investment securities in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320-10-05. Investments are classified into the following categories: (1) held to maturity securities, for which the Company has both the positive intent and ability to hold until maturity, which are reported at amortized cost; (2) trading securities, which are purchased and held principally for the purpose of selling in the near term and are reported at fair value with unrealized gains and losses included in earnings; and (3) available-for-sale securities, which do not meet the criteria of the other two categories and which management believes may be sold prior to maturity due to changes in interest rates, prepayment, risk, liquidity or other factors, and are reported at fair value, with unrealized gains and losses, net of applicable income taxes, reported as a component of accumulated other comprehensive income, which is included in stockholders’ equity and excluded from earnings.

 

Investment securities are adjusted for amortization of premiums and accretion of discounts as adjustments to interest income, which are recognized on a level yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Investment securities gains or losses are determined using the specific identification method.

 

Securities are evaluated on at least a quarterly basis, and more frequently when market conditions warrant such an evaluation, to determine whether a decline in their value is other-than-temporary. FASB ASC 320-10-65 clarifies the interaction of the factors that should be considered when determining whether a debt security is other-than-temporarily impaired. For debt securities, management must assess whether (a) it has the intent to sell the security and (b) it is more likely than not that it will be required to sell the security prior to its anticipated recovery. These steps are done before assessing whether the entity will recover the cost basis of the investment. In instances when a determination is made that an other-than-temporary impairment exists but the investor does not intend to sell the debt security and it is not more likely than not that it will be required to sell the debt security prior to its anticipated recovery, FASB ASC 320-10-65 changed the presentation and amount of the other-than-temporary impairment recognized in the statement of income. The other-than-temporary impairment is separated into (a) the amount of the total other-than-temporary impairment related to a decrease in cash flows expected to be collected from the debt security (the credit loss) and (b) the amount of the total other-than-temporary impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized through earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized through other comprehensive income. Other-than-temporary charges of $0.7 million were recognized in 2013. There were no impairment charges recognized in 2014 and 2015.
Loan, Held-for-sale, Policy [Policy Text Block]

Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or estimated fair value as determined by outstanding commitments from investors. For loans carried at the lower of cost or estimated fair value, gains and losses on loan sales (sale proceeds minus carrying value) are recorded in other income and direct loan origination costs and fees are deferred at origination of the loan and are recognized in other income upon sale of the loan.
Loans Policy [Policy Text Block]

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, and an allowance for loan and lease losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments.

 

Loan segments are defined as a group of loans and leases, which share similar initial measurement attributes, risk characteristics, and methods for monitoring and assessing credit risk. Management has determined that the Company has five segments of loans and leases: commercial (including lease financing), commercial real estate, commercial construction, residential real estate (including home equity) and consumer.  

 

Interest income on commercial, commercial real estate, commercial construction and residential loans are discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. A loan is moved to nonaccrual status in accordance with the Company’s policy, typically after 90 days of non-payment.

 

All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

The policy of the Company is to generally grant commercial, residential and consumer loans to New Jersey residents and businesses within its market area. The borrowers’ abilities to repay their obligations are dependent upon various factors including the borrowers’ income and net worth, cash flows generated by the borrowers’ underlying collateral, value of the underlying collateral, and priority of the lender’s lien on the property. Such factors are dependent upon various economic conditions and individual circumstances beyond the control of the Company. The Company is therefore subject to risk of loss. The Company believes its lending policies and procedures adequately minimize the potential exposure to such risks and that adequate provisions for loan losses are provided for all known and inherent risks. Collateral and/or personal guarantees are required for a large majority of the Company’s loans.
Allowance for Loan and Lease Loss Policy [Policy Text Block]

The allowance for loan and lease losses is a valuation allowance for probable incurred credit losses. Loan and lease losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired.

 

A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”) and classified as impaired. As part of the evaluation of impaired loans, the Company individually reviews for impairment all non-homogeneous loans internally classified as substandard or below. Generally, smaller impaired non-homogeneous loans and impaired homogeneous loans are collectively evaluated for impairment.

 

The Bank has defined its population of impaired loans to include all loans on nonaccrual status; all troubled debt restructuring loans; and all loans (above an established dollar threshold of $250,000) internally classified as “Special Mention” or below that require a specific reserve.

 

Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.

 

Troubled debt restructurings are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan and lease losses.

 

The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience, the primary factor, is determined by loan segment and is based on the actual loss history experienced by the Bank over an actual three year rolling calculation. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. This actual loss experience is supplemented with the exogenous factor adjustments based on the risks present for each loan categories. These exogenous factors (nine total) include consideration of the following: concentrations of credit; delinquency & nonaccrual trends; economic & business conditions including evaluation of the national and regional economies and industries with significant loan concentrations; external factors including legal, regulatory or competitive pressures that may impact the loan portfolio; changes in the experience, ability, or size of the lending staff, management, or board of directors that may impact the loan portfolio; changes in underwriting standards, collection procedures, charge-off practices, or other changes in lending policies and procedures that may impact the loan portfolio; loss and recovery trends; changes in portfolio size and mix; and trends in problem loans.
Purchased Credit-Impaired Loans , Policy [Policy Text Block]

The Company purchases groups of loans in conjunction with mergers, some of which have shown evidence of credit deterioration since origination. These purchased credit impaired loans are recorded at the amount paid, such that there is no carryover of the seller’s allowance for loan and lease losses. After acquisition, losses are recognized by an increase in the allowance for loan and lease losses.

 

Such purchased credit impaired loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each loan and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan (accretable yield). The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). 

 

Over the life of the loan, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. 
Derivatives, Policy [Policy Text Block]

The Company records cash flow hedges at the inception of the derivative contract based on the Company’s intentions and belief as to likely effectiveness as a hedge. Cash flow hedges represent a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. The changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income.

 

Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged.

 

The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended.

 

When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. 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 which the hedged transactions will affect earnings. 
Restricted Stock [Policy Text Block]

The Bank is a member of the Federal Home Loan Bank (“FHLB”) of New York. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Cash dividends on the stock are reported as income. 
Transfers of Financial Assets, Policy [Policy Text Block]

Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Premises and Equipment

Land is carried at cost and premises and equipment are stated at cost less accumulated depreciation. Buildings and related components are depreciated using the straight-line method with useful lives ranging from 4 to 39 years. Furniture, fixtures and equipment are depreciated using the straight-line (or accelerated) method with useful lives ranging from 3 to 10 years. 
Other Real Estate Owned Policy [Policy Text Block]

Other real estate owned (“OREO”), representing property acquired through foreclosure and held for sale, is initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequently, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Costs relating to holding the assets are charged to expenses.
Employee Benefit Plans, Policy [Policy Text Block]

The Company had a noncontributory pension plan that covered all eligible employees up until September 30, 2007, at which time the Company froze its defined benefit pension plan. As such, all future benefit accruals in this pension plan were discontinued and all retirement benefits that employees would have earned as of September 30, 2007 were preserved. The Company’s policy is to fund at least the minimum contribution required by the Employee Retirement Income Security Act of 1974. The costs associated with the plan are accrued based on actuarial assumptions and included in other expense.

 

The Company accounts for its defined benefit pension plan in accordance with FASB ASC 715-30. FASB ASC 715-30 requires that the funded status of defined benefit postretirement plans be recognized on the Company’s statement of financial condition and changes in the funded status be reflected in other comprehensive income. FASB ASC 715-30 also requires companies to measure the funded status of the plan as of the date of its fiscal year-end. Employee 401 (k) and profit sharing plan expense is the amount of matching contributions.
Stock-Based Compensation Policy [Policy Text Block]

Stock compensation accounting guidance (FASB ASC 718, “Compensation-Stock Compensation”) requires that the compensation cost related to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans.

 

Stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. See Note 19 of the Notes to Consolidated Financial Statements for a further discussion.
Earnings Per Share, Policy [Policy Text Block]

Basic Earnings per Share (“EPS”) is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding. Diluted EPS includes any additional common shares as if all potentially dilutive common shares were issued (e.g. stock options). The Company’s weighted average common shares outstanding for diluted EPS include the effect of stock options outstanding using the Treasury Stock Method, which are not included in the calculation of basic EPS.

Earnings per common share have been computed based on the following:

    Years Ended December 31,
    2015   2014   2013
    (In thousands, Except per Share Amounts)
Net income   $        41,311   $      18,565   $        19,925
Preferred stock dividends     112     112     141
Net income available to common stockholders   $ 41,199   $ 18,453   $ 19,784
Average number of common shares outstanding     29,938     23,030     16,349
       Effect of dilutive options     346     449     37
Average number of common shares outstanding used to                  
       calculate diluted earnings per common share     30,284     23,479     16,386
Anti-dilutive common shares outstanding     -     -     14
Earnings per common share:                  
       Basic   $ 1.38   $ 0.80   $ 1.21
       Diluted   $ 1.36   $ 0.79   $ 1.21
Treasury Stock Policy [Policy Text Block]

Subject to limitations applicable to the Parent Corporation, treasury stock purchases may be made from time to time as, in the opinion of management, market conditions warrant, in the open market or in privately negotiated transactions. Shares repurchased are added to the corporate treasury and will be used for future stock dividends and other issuances. The repurchased shares are recorded as treasury stock, which results in a decrease in stockholders’ equity. Treasury stock is recorded using the cost method and accordingly is presented as a reduction of stockholders’ equity. During the years ended December 31, 2015, 2014 and 2013, the Parent Corporation did not purchase any of its shares.
Goodwill, Policy [Policy Text Block]

The Company adopted the provisions of FASB ASC 350-20-35-4 (“ASC 350”), which requires that goodwill be tested for impairment annually, or more frequently if indicators arise for impairment. The Company has selected December 31 as the date to perform the annual impairment test. No impairment charge was deemed necessary for the years ended December 31, 2015, 2014 and 2013.  

 

In accordance with ASC 350, an impairment analysis is a two-step test. The first step is to identify potential impairment by comparing the value fair of a reporting unit with its carrying amount, including goodwill and the second step, if necessary, is to quantify the amount of impairment. Also considered as part of the analysis were:

 

  • Market value and control value compared to Company’s common equity.
  • Company’s market price as compared to previous period.
  • Overall financial performance.
Other Intangible Assets, Policy [Policy Text Block]

Other intangible assets consist of core deposits arising from business combinations that are amortized over their estimated useful lives to their estimated residual value.
Comprehensive Income, Policy [Policy Text Block]

Total comprehensive income includes all changes in equity during a period from transactions and other events and circumstances from nonowner sources. The Company’s other comprehensive income is comprised of unrealized holding gains and losses on securities available-for-sale, unrecognized actuarial gains and losses of the Company’s defined benefit pension plan and unrealized gains and losses on cash flow hedge, net of taxes.

 

Disclosure of comprehensive income for the years ended December 31, 2015, 2014 and 2013 is presented in the Consolidated Statements of Comprehensive Income and presented in detail in Note 17 of the Notes to Consolidated Financial Statements.
Restrictions on Cash [Policy Text Block]

Cash on hand or on deposit with the Federal Reserve Bank is required to meet regulatory reserve and clearing requirements. 
Dividend Restriction, Policy [Policy Text Block]

Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to the Parent Corporation or by the Parent Corporation to the stockholders.
Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
Bank-Owned Life Insurance, Policy [Policy Text Block]

The Company invests in Bank-Owned Life Insurance (“BOLI”) to help offset the rising cost of employee benefits. The change in the cash surrender value of the BOLI is recorded as a component of other income.
Income Tax, Policy [Policy Text Block]

Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized.

 

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. 
Advertising Costs, Policy [Policy Text Block]

The Company recognizes its marketing and advertising cost as incurred. 
Reclassification, Policy [Policy Text Block]

Certain reclassifications have been made in the consolidated financial footnotes for 2014 to conform to the classifications presented in 2015.
v3.3.1.900
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted

Earnings per common share have been computed based on the following:

    Years Ended December 31,
    2015   2014   2013
    (In thousands, Except per Share Amounts)
Net income   $        41,311   $      18,565   $        19,925
Preferred stock dividends     112     112     141
Net income available to common stockholders   $ 41,199   $ 18,453   $ 19,784
Average number of common shares outstanding     29,938     23,030     16,349
       Effect of dilutive options     346     449     37
Average number of common shares outstanding used to                  
       calculate diluted earnings per common share     30,284     23,479     16,386
Anti-dilutive common shares outstanding     -     -     14
Earnings per common share:                  
       Basic   $ 1.38   $ 0.80   $ 1.21
       Diluted   $ 1.36   $ 0.79   $ 1.21
v3.3.1.900
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2015
Business combinations:  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Consideration paid through Company common stock issued to Legacy ConnectOne shareholders and fair value of stock options acceleration was: $ 264,231

    Legacy         As recorded
    ConnectOne   Fair value     at
    carrying value   adjustments     acquisition
Cash and cash equivalents   $ 70,318   $ -     $ 70,318
Investment securities     28,436     16  (a)     28,452
Restricted investments     13,646     -       13,646
Loans held for sale     190     -       190
Loans          1,304,600          (5,316) (b)     1,299,284
Bank owned life insurance     15,481     -       15,481
 
Premises and equipment, net     7,380     (905) (c)     6,475
Accrued interest receivable     4,470     -       4,470
Core deposit intangible     -     5,308 (d)     5,308
Other real estate owned     2,455     -       2,455
Other assets     10,636     3,650 (e)     14,286
Deposits     (1,049,666)     (1,676) (f)     (1,051,342)
Borrowings     (262,046)     (1,324) (g)     (263,370)
Other liabilities     (10,527)     -       (10,527)
 
       Total identifiable net assets   $ 135,373   $      (247)     $      135,126
 
Goodwill recorded in the Merger                 $ 129,105



The following provides an explanation of certain fair value adjustments presented in the above table:

  a)   Represents the fair value adjustment on investment securities held to maturity.
  b)   Represents the elimination of Legacy ConnectOne’s allowance for loan and lease losses, deferred fees, deferred costs and an adjustment of the amortized cost of loans to estimated fair value, which includes an interest rate mark and credit mark.
  c)   Represent an adjustment to reflect the fair value of above-market rent on leased premises. The above-market rent adjustment will be amortized on a straight-line basis over the remaining term of the respective leases.
  d)   Represents intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base.
  e)   Consist primarily of adjustments in net deferred tax assets resulting from the fair value adjustments related to acquired assets, liabilities assumed and identifiable intangibles recorded.
  f)   Represents fair value adjustment on time deposits as the weighted average interest rates of time deposits assumed exceeded the costs of similar funding available in the market at the time of the Merger, as well as the elimination of fees paid on brokered time deposits.
  g)   Represents the fair value adjustment on FHLB borrowings as the weighted average interest rate of FHLB borrowings assumed exceeded the cost of similar funding available in the market at the time of the Merger.
Schedule of Accountable Loans for Business Combinations in Accordance with FASB ASC 310-30 [Table Text Block]

The acquired loan portfolio subject to purchased credit impairment accounting guidance (ASC 310-30) as of July 1, 2014 was comprised of collateral dependent loans with deteriorated credit quality as follows:

    ASC 310-30
    Loans
Contractual principal and accrued interest at acquisition   $ 23,284
Principal not expected to be collected (nonaccretable discount)     (6,942)
Expected cash flows at acquisition     16,342
Interest component of expected cash flows (accretable discount)     (5,013)
Fair value of acquired loans   $ 11,329
Schedule of Operating Results Attributable to Business Combinations [Table Text Block]

The unaudited pro forma information set forth below reflects the adjustments related to (a) purchase accounting fair value adjustments; (b) amortization of core deposit and other intangibles; and (c) adjustments to interest income and expense due to amortization of premiums and accretion discounts. In the table below, merger-related expenses of $12.4 million were excluded from pro forma non-interest expenses for the year ended December 31, 2014. Income taxes were also adjusted to exclude income tax benefits of $5.6 million related to the merger expenses for the year ended December 31, 2014.

    2014   2013
    (in thousands, except per
    share amounts)
Net interest income   $ 107,988   $ 95,749
Noninterest income     8,244     8,053
Noninterest expense     (54,749)     (45,827)
Net income     45,981     35,984
 
Pro forma earnings per share from continuing operations:            
       Basic   $ 1.55   $ 0.91
       Diluted     1.53     0.90
v3.3.1.900
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables present information related to the Company’s portfolio of securities available-for-sale and held-to-maturity at December 31, 2015 and 2014.

        Gross   Gross      
    Amortized   Unrealized   Unrealized   Fair
    Cost   Gains   Losses   Value
    December 31, 2015
    (dollars in thousands)
Investment securities available-for-sale:                        
Federal agency obligations   $  29,062   $ 142   $ (58)   $ 29,146
Residential mortgage pass-through securities     44,155     803     (48)     44,910
Commercial mortgage pass-through securities     2,981     -     (9)     2,972
Obligations of U.S. states and political subdivisions     8,188     169     -     8,357
Trust preferred securities     16,088     398     (231)     16,255
Corporate bonds and notes     53,566     702     (292)     53,976
Asset-backed securities     20,005     18     (298)     19,725
Certificates of deposit     1,895     18     (8)     1,905
Equity securities     376     21     (23)     374
Other securities     18,303     -     (153)     18,150
       Total securities available-for-sale   $  194,619   $ 2,271   $ (1,120)   $ 195,770
 
        Gross   Gross      
    Amortized   Unrecognized   Unrecognized   Fair
    Cost   Gains   Losses   Value
Investment securities held-to-maturity:                        
U.S. Treasury and agency securities   $  28,471   $ 755   $ -   $ 29,226
Federal agency obligations     33,616     280     (119)     33,777
Residential mortgage-backed securities     3,805     11     (6)     3,810
Commercial mortgage-backed securities     4,110     27     (2)     4,135
Obligations of U.S. states and political subdivisions     118,015     5,001     (3)     123,013
Corporate bonds and notes     36,039     719     (161)     36,597
       Total securities held-to-maturity   $        224,056   $      6,793   $        (291)   $      230,558



          Gross   Gross      
    Amortized   Unrealized   Unrealized   Fair
    Cost   Gains   Losses   Value
    December 31, 2014
    (dollars in thousands)
Investment Securities Available-for-Sale:                        
Federal agency obligations   $  32,650   $ 217   $ (50)   $ 32,817
Residential mortgage pass-through securities     58,836     1,531     (11)     60,356
Commercial mortgage pass-through securities     3,042     4     -     3,046
Obligations of U.S. states and political subdivisions     8,201     205     -     8,406
Trust preferred securities     16,086     489     (269)     16,306
Corporate bonds and notes     119,838     5,950     (11)     125,777
Asset-backed securities     27,393     140     (31)     27,502
Certificates of deposit     2,098     27     (2)     2,123
Equity securities     376     -     (69)     307
Other securities     12,941     33     (82)     12,892
       Total securities available-for-sale   $  281,461   $ 8,596   $ (525)   $ 289,532
 
        Gross   Gross      
    Amortized   Unrecognized   Unrecognized   Fair
    Cost   Gains   Losses   Value
Investment securities held-to-maturity:                        
U.S. Treasury and agency securities   $  28,264   $ 920   $ -   $ 29,184
Federal agency obligations     27,103     322     (28)     27,397
Residential mortgage-backed securities     5,955     28     -     5,983
Commercial mortgage-backed securities     4,266     50     -     4,316
Obligations of U.S. states and political subdivisions     120,144     4,512     (60)     124,596
Corporate bonds and notes     38,950     1,026     (7)     39,969
       Total securities held-to-maturity   $ 224,682   $ 6,858   $ (95)   $ 231,445
Investments Classified by Contractual Maturity Date [Table Text Block]

The following table presents information for investments in securities available-for-sale and held-to-maturity at December 31, 2015, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer. Securities not due at a single maturity date are shown separately.

    December 31, 2015
    Amortized   Fair
    Cost   Value
    (dollars in thousands)
Investment Securities Available-for-Sale:            
      Due in one year or less   $  13,543   $ 13,587
      Due after one year through five years     21,730     22,137
      Due after five years through ten years     44,371     44,391
      Due after ten years     49,160     49,249
Residential mortgage pass-through securities     44,155     44,910
Commercial mortgage pass-through securities     2,981     2,972
Equity securities     376     374
Other securities     18,303     18,150
        Total   $  194,619   $ 195,770
 
Investment Securities Held-to-Maturity:            
      Due in one year or less   $  1,000   $ 998
      Due after one year through five years     13,123     13,380
      Due after five years through ten years     80,274     82,739
      Due after ten years     121,744     125,496
Residential mortgage-backed securities     3,805     3,810
Commercial mortgage-backed securities     4,110     4,135
        Total   $  224,056   $ 230,558
Total investment securities   $         418,675   $        426,328
Schedule of Realized Gain (Loss) [Table Text Block]

Gross gains and losses from the sales, calls, and maturities of investment securities for the years ended December 31, 2015, 2014 and 2013 were as follows:

    Years Ended December 31,
(dollars in thousands)   2015   2014   2013
Proceeds   $ 65,231   $ 81,844   $ 122,165
 
Gross gains on sales of investment securities   $ 3,931   $ 2,837   $ 2,451
Gross losses on sales of investment securities     -     19     88
      Net gains on sales of investment securities     3,931     2,818     2,363
      Less: tax provision on net gains   (1,376)     (986)     (645)
            Net gains on sales of investment securities   $      2,555   $      1,832   $      1,718
Schedule of OTTI Charges for period

Summary of Other-than-Temporary Impairment Charges

    Years Ended December 31,
    2015   2014   2013
    (dollars in thousands)
Pooled trust preferred securities   $ -   $ -   $ 628
Principal losses on a variable rate CMO     -     -     24
Total other-than-temporary impairment charges   $ -   $ -   $ 652
Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at December 31, 2015 and 2014:

    December 31, 2015
    Total   Less than 12 Months   12 Months or Longer
    Fair   Unrealized   Fair   Unrealized   Fair   Unrealized
    Value   Losses   Value   Losses   Value   Losses
    (dollars in thousands)
Investment Securities                                    
       Available-for-Sale:                                    
Federal agency obligation   $  12,260   $ (58)   $ 12,013   $ (54)   $ 247   $ (4)
Residential mortgage                                    
       pass-through securities     9,027     (48)     9,027     (48)     —     —
Commercial mortgage-backed                                    
       securities     2,971     (9)     2,971     (9)     —     —
Trust preferred securities     1,345     (231)     —     —     1,345     (231)
Corporate bonds and notes     16,533     (292)     12,702     (161)     3,831     (131)
Asset-backed securities     14,745     (298)     11,250     (188)     3,495     (110)
Certificates of deposit     215     (8)     215     (8)     —     —
Equity securities     123     (23)     —     —     123     (23)
Other securities     5,347     (153)     —     —     5,347     (153)
Total   $  62,566   $ (1,120)   $ 48,178   $ (468)   $ 14,388   $ (652)
Investment Securities                                    
       Held-to-Maturity:                                    
Federal agency obligation     12,554     (119)     11,783     (109)     771     (10)
Residential mortgage                                    
       pass-through securities     2,480     (6)     2,480     (6)     —     —
Commercial mortgage-backed                                    
       securities     1,331     (2)     1,331     (2)     —     —
Obligations of U.S. states                                    
       and political subdivisions     981     (3)     981     (3)     —     —
Corporate bonds and notes     5,536     (161)     5,536     (161)     —     —
Total     22,882     (291)     22,111     (281)     771     (10)
Total Temporarily Impaired                                    
       Securities   $        85,448   $       (1,411)   $       70,289   $       (749)   $       15,159   $       (662)



    December 31, 2014
    Total   Less than 12 Months   12 Months or Longer
    Fair   Unrealized   Fair   Unrealized   Fair   Unrealized
    Value   Losses   Value   Losses   Value   Losses
    (dollars in thousands)
Investment Securities                                    
       Available-for-Sale:                                    
Federal agency obligation   $  6,755   $ (50)   $ 2,770   $ (9)   $ 3,985   $ (41)
Residential mortgage                                    
       pass-through securities     5,694     (11)     5,694     (11)     —     —
Trust preferred securities     1,307     (269)     —     —     1,307     (269)
Corporate bonds and notes     1,961     (11)     1,961     (11)     —     —
Asset-backed securities     9,773     (31)     9,773     (31)     —     —
Certificates of deposit     369     (2)     369     (2)     —     —
Equity securities     307     (69)     —     —     307     (69)
Other securities     5,417     (82)     1,978     (21)     3,439     (61)
Total   $  31,583   $ (525)   $ 22,545   $ (85)   $ 9,038   $ (440)
Investment Securities                                    
       Held-to-Maturity:                                    
Federal agency obligation     3,228     (28)     3,228     (28)     —     —
Obligations of U.S. states                                    
       and political subdivisions     8,341     (60)     1,401     (3)     6,940     (57)
Corporate bonds and notes     993     (7)     993     (7)     —     —
Total     12,562     (95)     5,622     (38)     6,940     (57)
Total Temporarily Impaired                                    
       Securities   $  44,145   $ (620)   $ 28,167   $ (123)   $ 15,978   $ (497)
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Tables)
 12 Months Ended
Dec. 31, 2015
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following table sets forth the composition of the Company’s loan portfolio segments, including net deferred fees and costs, at December 31, 2015 and 2014, respectively:

    2015   2014
    (in thousands)
Commercial   $ 570,116   $ 499,816
Commercial real estate     1,966,696     1,634,510
Commercial construction     328,838     167,359
Residential real estate     233,690     234,967
Consumer     2,454     2,879
       Gross loans     3,101,794     2,539,531
Net deferred loan (fees) costs     (2,787)     (890)
       Total loans receivable   $       3,099,007   $       2,538,641
Loans and Leases Receivable Purchase Credit Impaired Loans [Table Text Block]

The carrying amount of those loans is as follows at December 31, 2015 and December 31, 2014.

    2015   2014
    (in thousands)
Commercial   $      7,078   $      7,199
Commercial real estate     1,775     1,816
Commercial construction     -     -
Residential real estate     328     806
Consumer     -     -
      Total carrying amount   $ 9,181   $ 9,821
Loans and Leases Receivable Purchased Loans [Table Text Block]

The accretable yield, or income expected to be collected, on the purchased credit impaired loans above is as follows at December 31, 2015 and December 31, 2014.

    2015   2014
    (in thousands)
Balance at beginning of period   $ 4,805   $ 5,013
New loans purchased     -     -
Accretion of income     (1,206)     (142)
Reclassifications from nonaccretable difference     -     -
Disposals     -     (66)
      Balance at end of period   $        3,599   $        4,805
Schedule of Financing Receivables, Non Accrual Status [Table Text Block]

The following table presents nonaccrual loans by class of loans:

Loans Receivable on Nonaccrual Status        
         
    2015   2014
    (in thousands)
Commercial   $ 6,586   $ 616
Commercial real estate     9,112     8,197
Commercial construction     1,479     -
Residential real estate     3,559     2,796
      Total loans receivable on nonaccrual status   $        20,736   $        11,609
Financing Receivable Credit Quality Indicators [Table Text Block]

The following table presents information about the loan credit quality by loan segment at December 31, 2015 and 2014:

Credit Quality Indicators

    December 31, 2015
          Special                  
    Pass   Mention   Substandard   Doubtful   Total
    (in thousands)
Commercial   $ 462,358   $ 11,760   $ 95,998   $ -   $ 570,116
Commercial real estate     1,919,041     18,990     28,426     239     1,966,696
Commercial construction     326,697     662     1,479     -     328,838
Residential real estate     229,426     -     4,264     -     233,690
Consumer     2,368     -     86     -     2,454
Total loans   $ 2,939,890   $ 31,412   $             130,253   $             239   $       3,101,794
 
    December 31, 2014
          Special                  
    Pass   Mention   Substandard   Doubtful   Total
    (in thousands)
Commercial   $ 481,927   $ 3,686   $ 14,203   $ -   $ 499,816
Commercial real estate           1,596,317           14,140     23,764     289     1,634,510
Commercial construction     165,880     1,479     -     -     167,359
Residential real estate     230,772     -     4,195     -     234,967
Consumer     2,778     -     101     -     2,879
Total loans   $ 2,477,674   $ 19,305   $ 42,263   $ 289   $ 2,539,531
Impaired Financing Receivables [Table Text Block]

The following table provides an analysis of the impaired loans by segment at December 31, 2015 and 2014:

    December 31, 2015
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 610   $ 645   $     $ 686   $ -
Commercial real estate     15,517     16,512           6,363     60
Commercial construction     2,149     2,141           1,535     -
Residential real estate     3,954     4,329           3,322     10
Consumer     87     86           96     5
Total   $ 22,318   $ 23,173   $     $ 12,002   $ 75
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $      84,787   $        84,449   $       6,725   $        55,445   $       1,895
Total                              
Commercial   $ 85,397   $ 85,094   $ 6,725   $ 55,131   $ 1,895
Commercial real estate     15,517     16,512     -     6,363     60
Commercial construction     2,149     2,141     -     1,535      
Residential real estate     3,952     4,329     -     3,322     10
Consumer     87     86     -     96     5
Total   $ 107,104   $ 108,142   $ 6,725   $ 67,447   $ 1,970
 
    December 31, 2014
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 481   $ 527   $ -   $ 494   $ -
Commercial real estate     5,890     6,857     -     6,276     129
Residential real estate     3,072     3,406     -     3,170     41
Consumer     109     101     -     107     -
Total   $ 9,552   $ 10,891   $ -   $ 10,047   $ 170
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 387   $ 389   $ 111   $ 389   $ -
Commercial real estate     3,520     3,520     150     3,584     171
Total   $ 3,907   $ 3,909   $ 261   $ 3,973   $ 171
Total                              
Commercial   $ 868   $ 917   $ 111   $ 883   $ -
Commercial real estate     9,410     10,107     150     9,860     300
Residential real estate     3,072     3,406     -     3,170     41
Consumer     109     101     -     106     -
Total   $ 13,459   $ 14,531   $ 261   $ 14,019   $ 342



    December 31, 2013
    (dollars in thousands)
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
No Related Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 449   $ 449   $ -   $ 494   $ 25
Commercial real estate     10,482     10,783     -     10,658     496
Residential real estate     1,858     2,000     -     1,892     94
Consumer     120     120     -     128     6
Total   $ 12,909   $ 13,352   $ -   $ 13,172   $ 621
 
          Unpaid         Average   Interest
    Recorded   Principal   Related   Recorded   Income
With An Allowance Recorded   Investment   Balance   Allowance   Investment   Recognized
Commercial   $ 672   $ 672   $ 300   $ 687   $ 43
Commercial real estate     4,344     4,344     115     4,359     200
Total   $ 5,016   $ 5,016   $ 415   $ 5,046   $ 243
 
Total                              
Commercial   $ 1,121   $ 1,121   $ 300   $ 1,181   $ 68
Commercial real estate     14,826     15,127     115     15,017     696
Residential real estate     1,858     2,000     -     1,892     94
Consumer     120     120     -     128     6
Total (including related                              
       allowance)   $ 17,925   $ 18,368   $ 415   $ 18,218   $ 864
Past Due Financing Receivables [Table Text Block]

The following table provides an analysis of the aging of the loans by segment, excluding net deferred costs that are past due at December 31, 2015 and December 31, 2014 by class:

Aging Analysis

    December 31, 2015
                                        Loans
                                        Receivable > 90
                90 Days or                     Days Past Due
    30-59 Days   60-89 Days   Greater Past   Total Past         Total Loans   and
    Past Due   Past Due   Due   Due   Current   Receivable   Accruing
    (in thousands)
Commercial   $ 6,887   $ 3,505   $ 6,865   $ 17,257   $ 552,859   $ 570,116   $ -
Commercial                                          
real estate     1,998     988     9,561     12,547     1,954,149     1,966,696     -
Commercial                                          
construction     -     -     1,479     1,479     327,359     328,838     -
Residential                                          
real estate     -     -     2,122     2,122     231,568     233,690     -
Consumer     4     9     -     13     2,441     2,454     -
       Total   $            8,889   $            4,502   $            20,027   $            33,418   $            3,068,376   $            3,101,794   $ -
     
Aging Analysis
     
    December 31, 2014
                                        Loans
                                        Receivable > 90
                90 Days or                     Days Past Due
    30-59 Days   60-89 Days   Greater Past   Total Past         Total Loans   and
    Past Due   Past Due   Due   Due   Current   Receivable   Accruing
    (in thousands)
Commercial   $ 6,060   $ -   $ 662   $ 6,722   $ 493,094   $ 499,816   $ 45
Commercial                                          
real estate     4,937     638     5,961     11,536     1,622,974     1,634,510     609
Commercial                                          
construction     -     -     -     -     167,359     167,359     -
Residential                                          
real estate     1,821     210     3,200     5,231     229,736     234,967     557
Consumer     30     1     -     31     2,848     2,879     -
       Total   $ 12,848   $ 849   $ 9,823   $ 23,520   $ 2,516,011   $ 2,539,531   $ 1,211
Schedule of Recorded Investment in Financing Receivables [Table Text Block]

The following table details the amount of loans that are evaluated individually, and collectively, for impairment (excluding net deferred costs), acquired with deteriorated quality, and the related portion of the allowance for loan and lease loss that is allocated to each loan portfolio class:

    December 31, 2015
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
    (in thousands)
Allowance for loan and lease losses:                                          
           Individually evaluated for impairment   $ 6,725   $ -   $ -   $ -   $ -   $ -   $ 6,725
           Collectively evaluated for impairment     4,224     10,926     3,253     976     4     464     19,847
      Acquired with deteriorated credit quality     -     -     -     -     -     -     -
                Total   $      10,949   $      10,926   $       3,253   $     976   $ 4   $ 464   $       26,572
 
Gross loans                                          
           Individually evaluated for impairment     85,397     15,517     2,149     3,954     87     -     107,104
           Collectively evaluated for impairment     477,641     1,949,404     326,689     229,408     2,367     -     2,985,509
      Acquired with deteriorated credit quality     7,078     1,775     -     328     -     -     9,181
                Total     570,116     1,966,696     328,838     233,690     2,454     -     3,101,794
 

 The tables above include approximately $867 million of acquired loans as of December 31, 2015 reported as collectively evaluated for impairment, of which $672 million were included in the commercial real estate loan segment.  

 
    December 31, 2014
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
    (in thousands)
Allowance for loan and lease losses:                                          
           Individually evaluated for impairment   $ 111   $ 151   $ -   $ -   $ -   $ -   $ 262
           Collectively evaluated for impairment     2,972     7,648     1,239     1,113     7     919     13,898
      Acquired with deteriorated credit quality     -     -     -     -     -     -     -
                Total   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
 
Gross loans                                          
           Individually evaluated for impairment   $ 868   $ 9,410   $ -   $ 3,072   $ 109   $ -   $ 13,459
           Collectively evaluated for impairment     491,749     1,623,284     167,359     231,089     2,770     -     2,516,251
      Acquired with deteriorated credit quality     7,199     1,816     -     806     -     -     9,821
                Total   $ 499,816   $ 1,634,510   $ 167,359   $ 234,967   $ 2,879   $ -   $ 2,539,531
Allowance for Credit Losses on Financing Receivables [Table Text Block]

A summary of the activity in the allowance for loan and lease losses is as follows:

    Year Ended December 31, 2015
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2015   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
Loans charged-off     (101)     (406)     -     -     (31)     -     (538)
Recoveries     13     327     -     2     3     -     345
Provision for loan and lease losses     7,954     3,206     2,014     (139)     25     (455)     12,605
Balance at December 31, 2015   $ 10,949   $ 10,926   $ 3,253   $ 976   $ 4   $ 464   $ 26,572
 
    Year Ended December 31, 2014
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2014   $ 1,698   $ 5,746   $ 362   $ 990   $ 146   $ 1,391   $ 10,333
Loans charged-off     (379)     (398)     -     (159)     -     -     (936)
Recoveries     50     -     -     19     11     -     80
Provision for loan and lease losses     1,714     2,451     877     263     (150)     (472)     4,683
Balance at December 31, 2014   $ 3,083   $ 7,799   $ 1,239   $ 1,113   $ 7   $ 919   $ 14,160
 
    Year Ended December 31, 2013
    (dollars in thousands)
          Commercial   Commercial   Residential                  
    Commercial   real estate   construction   real estate   Consumer   Unallocated   Total
Balance at January 1, 2013   $        2,424   $         5,323   $         313   $         1,532   $       113   $          532   $      10,237
Loans charged-off     (6)     (126)     -     (175)     (22)     -     (329)
Recoveries     41     28     -     -     6     -     75
Provision for loan and lease losses     (761)     521     49     (367)     49     859     350
Balance at December 31, 2013   $ 1,698   $ 5,746   $ 362   $ 990   $ 146   $ 1,391   $ 10,333
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block]

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015 (dollars in thousands):

        Pre-Modification   Post-Modification
        Outstanding   Outstanding
    Number of   Recorded   Recorded
    Loans   Investment   Investment
Troubled debt restructurings:                
       Commercial   48   $ 78,466   $ 78,466
       Commercial real estate   3     5,049     5,049
       Commercial construction   1     661     661
       Residential real estate   1     110     110
       Consumer   1     4     4
 
                     Total   54   $ 84,290   $ 84,290


The following table presents loans by segment modified as troubled debt restructurings that occurred during the year ended December 31, 2014 (dollars in thousands):

        Pre-Modification   Post-Modification
        Outstanding   Outstanding
    Number of   Recorded   Recorded
    Loans   Investment   Investment
Troubled debt restructurings:                
       Commercial   1   $ 672   $ 289
       Commercial real estate   -     -     -
       Commercial construction   -     -     -
       Residential real estate   2     275     272
 
              Total   3   $ 947   $ 561
v3.3.1.900
Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment [Table Text Block]

Premises and equipment are summarized as follows:

  Estimated            
  Useful Life            
  (Years)   2015   2014
  (dollars in Thousands)
Land -   $ 2,403   $ 2,403
Buildings 20-40     16,490     16,490
Furniture, fixtures and equipment 3-7     27,235     24,809
Leasehold improvements 10-20     12,230     10,757
       Subtotal       58,358     54,459
Less: accumulated depreciation and              
              amortization       35,291     32,977
       Subtotal       23,067     21,482
Less: fair value adjustment for              
acquired leases       (734)     (829)
       Total premises and equipment, net     $       22,333   $       20,653
Schedule of Capital Lease in Premises and Equipment [Table Text Block]

The Company has included this lease in premises and equipment as follows (dollars in thousands):

  2015   2014
Capital Lease $        3,422   $        3,422
Less: accumulated amortization   1,198     1,026
  $ 2,224   $ 2,396
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments at December 31, 2015 (dollars in thousands):

2016 $ 292
2017   292
2018   292
2019   321
2020   321
Thereafter   2,699
              Total minimum lease payments   4,217
 
Less amount representing interest   1,332
Present value of net minimum    
       lease payments $       2,885
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future minimum lease payments under these leases are as follows (dollars in thousands)

2016 $       1,915
2017   1,548
2018   1,481
2019   1,350
2020   1,284
Thereafter   5,463
v3.3.1.900
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]

The change in goodwill during the year is as follows (dollars in thousands):

  2015   2014
Beginning of year $        145,909   $ 16,804
Acquired goodwill   -            129,105
Impairment   -     -
End of year $ 145,909   $ 145,909
Intangible Assets Disclosure [Text Block]

The table below provides information regarding the carrying amounts and accumulated amortization of total amortized intangible assets as of the dates set forth below.

  Gross         Net
  Carrying   Accumulated   Carrying
  Amount   Amortization   Amount
  (dollars in thousands)  
As of December 31, 2015:                
       Core deposit intangibles $        6,011   $        (2,103)   $        3,908
 
As of December 31, 2014:                
       Core deposit intangibles $ 6,011   $ (1,186)   $ 4,825
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Aggregate amortization expense was $917,000, $507,000 and $30,000 for 2015, 2014 and 2013. Estimated amortization expense for each of the next five years (in thousands):

2016 $         820
2017   724
2018   627
2019   531
2020   434
v3.3.1.900
Deposits (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Schedule Of Time Deposits [Table Text Block]

As of December 31, 2015 and 2014, the Company's total time deposits were $774.7 million and $669.4 million, respectively. As of December 31, 2015, the contractual maturities of these time deposits were as follows:

(dollars in thousands)   Amount
2016   $ 344,224
2017     173,629
2018     163,046
2019     86,562
2020     7,256
Total   $        774,717
v3.3.1.900
Borrowed Funds (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]

The Company’s FHLB and other borrowings and weighted average interest rates are summarized below:

  December 31, 2015   December 31, 2014
  Amount   Rate   Amount   Rate
  (in thousands)
By type of borrowing:                  
       FHLB borrowings $          656,587            1.26%   $          464,553            1.18%
       Repurchase agreements   15,000   5.95%     31,000   5.90%
Total borrowings $ 671,587   1.37%   $ 495,553   1.48%
 
By remaining period to maturity:                  
       One year or less $ 270,587   0.64%     258,553   0.50%
       One to two years   171,000   1.56%     30,000   1.40%
       Two to three years   130,000   1.84%     71,000   2.33%
       Three to four years   35,000   1.60%     96,000   2.67%
       Four to five years   65,000   2.82%     -    
       Greater than five years   -         40,000   3.42%
Total borrowings $ 671,587   1.37%   $ 495,553   1.48%
v3.3.1.900
Securities Sold under Agreements to Repurchase (Tables)
 12 Months Ended
Dec. 31, 2015
Securities Sold under Agreements to Repurchase [Abstract]  
Schedule of information concerning repurchase agreements [Table Text Block]

Repurchase agreements are secured borrowings. The Company pledges investment securities to secure those borrowings. Information concerning repurchase agreements is summarized as follows:

    2015   2014   2013
Average daily balance during the year   $       22,890   $       31,000   $       31,000
Average interest rate during the year     5.92%     5.90%     5.90%
Maximum month-end balance during the year   $ 31,000   $ 31,000   $ 31,000%
Weighted average interest rate during the year     5.92%     5.90%     5.90%
Schedule of remaining contractual maturity [Table Text Block]

The table below shows the remaining contractual maturity of agreement by fair value of collateral pledged:

    2015
    Remaining Contractual Maturity of the Agreements
    Overnight and   Up to 30         Greater Than      
    Continuous   Days   30-90 Days   90 Days   Total
Repurchase agreements and                              
Repurchase-to-maturity transactions                              
      U.S. Treasury and agency securities   $ -   $ -   $ -   $ 6,313   $ 6,313
      Residential mortgage pass-through securities     -     -     -     12,589     12,589
Total Borrowings   $ -   $ -   $ -   $ 18,902   $ 18,902
 
Amounts related to agreements not included in offsetting disclosure in Note 13   $ 3,902
v3.3.1.900
Subordinated Debentures (Tables)
 12 Months Ended
Dec. 31, 2015
Subordinated Borrowings [Abstract]  
Schedule of Subordinated Debentures [Table Text Block]

The following table summarizes the mandatory redeemable trust preferred securities of the Company’s Statutory Trust II at December 31, 2015 and December 31, 2014.

    Securities               Redeemable by
Issuance Date   Issued   Liquidation Value   Coupon Rate   Maturity   Issuer Beginning
12/19/2003   $      5,000,000   $1,000 per Capital   Floating 3-month   01/23/2034   01/23/2009
          Security   LIBOR + 285 Basis        
              Points        
v3.3.1.900
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The current and deferred amounts of income tax expense for 2015, 2014 and 2013 are as follows (dollars in thousands):

    2015   2014   2013
Current:                  
Federal   $      22,512   $      7,715   $      5,658
State     907     946     87
Subtotal     23,419     8,661     5,745
Deferred:                  
Federal     (3,835)     223     1,906
State     342     (39)     (167)
Subtotal     (3,493)     184     1,739
Income tax expense   $ 19,926   $ 8,845   $ 7,484
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Actual income tax expense differs from the tax computed based on pre-tax income and the applicable statutory federal tax rate for the following reasons (dollars in thousands):

    2015   2014   2013
Income before income tax expense   $      61,237   $      27,410   $      27,409
Federal statutory rate     35%     35%     35%
Computed “expected” Federal income tax                  
       expense     21,433     9,593     9,593
State tax, net of Federal tax benefit     812     589     (53)
Bank owned life insurance     (624)     (456)     (477)
Tax-exempt interest and dividends     (1,584)     (1,511)     (1,645)
Other, net     (111)     630     66
Income tax   $ 19,926   $ 8,845   $ 7,484
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of the deferred tax asset and deferred tax liability at December 31, 2015 and 2014 are presented in the following table:

    2015   2014
    (dollars in thousands)
Deferred tax assets:            
Nonaccrual interest   $      349   $      171
Allowance for loan and lease losses     10,798     5,681
Pension actuarial losses     2,605     2,980
Purchase accounting     7,195     9,221
Deferred compensation     1,479     1,066
Unrealized losses on securities and swaps     422     -
Deferred loan costs, net of fees     460     -
Accrued rent     530     476
Other     25     34
New Jersey net operating loss     -     902
Capital lease     427     389
       Total deferred tax assets   $ 24,290   $ 20,920
Deferred tax liabilities:            
Employee benefit plans   $ 1,370   $ 1,199
Depreciation     1,001     886
Market discount accretion     41     91
Deferred loan costs, net of fees     -     317
Prepaid expenses     341     393
Unrealized gains on securities and swaps     -     2,403
Other     27     64
       Total deferred tax liabilities     2,780     5,353
              Net deferred tax asset   $ 21,510   $ 15,567
v3.3.1.900
Offsetting Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2015
Offsetting [Abstract]  
Schedule of financial instruments that are eligible for offset [Table Text Block]

The following table presents information about financial instruments that are eligible for offset as of December 31, 2015 and December 31, 2014:

                      Gross Amounts Not Offset
          Gross Amounts                        
          Offset in the   Net Amounts         Cash or      
          Statement of   of Assets Presented   Financial   Financial      
    Gross Amounts   Financial   in the Statement of   Instruments   Instrument   Net
    Recognized   Position   Financial Position   Recognized   Collateral   Amount
    (in thousands)
December 31, 2015                                    
Assets:                                    
       Interest rate                                    
       swaps   $      —   $     —   $     —   $     —   $     —   $     —
Liabilities:                                    
       Interest rate                                    
       swaps   $ 131   $ —   $ 131   $ —   $ 131   $ —
       Repurchase                                    
              agreements     15,000     —     15,000     —     15,000     —
                     Total   $ 15,131   $ —   $ 15,131   $ —   $ 15,131   $ —
December 31, 2014                                    
Assets:                                    
       Interest rate                                    
       swaps   $ 48   $ —   $ 48   $ —   $ —   $ 48
Liabilities:                                    
       Interest rate                                    
       swaps   $ —   $ —   $ —   $ —   $ —   $ —
       Repurchase                                    
              agreements     31,000     —     31,000     —     31,000     —
                     Total   $ 31,000   $ —   $ 31,000   $ —   $ 31,000   $ —
v3.3.1.900
Commitments, Contingencies and Concentrations of Credit Risk (Tables)
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Supply Commitment [Table Text Block]

The following table provides a summary of financial instruments with off-balance sheet risk at December 31, 2015 and 2014:

    2015   2014
    (dollars in thousands)
Commitments under commercial loans and lines of credit   $      278,201   $      236,447
Home equity and other revolving lines of credit     52,191     56,031
Outstanding commercial mortgage loan commitments     273,552     169,043
Standby letters of credit     20,895     27,500
Overdraft protection lines     770     800
Total   $ 625,609   $ 489,821
v3.3.1.900
Transactions with Executive Officers, Directors and Principal Stockholders (Tables)
 12 Months Ended
Dec. 31, 2015
Leases [Abstract]  
Schedule of Participating Mortgage Loans [Table Text Block]

Loans to principal officers, directors, and their affiliates during the years ended December 31, 2015 and 2014, were as follows (dollars in thousands):

    2015   2014
Beginning balance   $      44,353   $      20,365
New loans     -     150
Loans assumed in Merger     -     31,325
Repayments     (5,121)     (7,487)
 
Ending balance   $ 39,232   $ 44,353
v3.3.1.900
Stockholders' Equity and Regulatory Requirements (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

The following is a summary of the Bank’s and the Parent Corporation’s actual capital amounts and ratios as of December 31, 2015 and 2014, compared to the FRB and FDIC minimum capital adequacy requirements and the FRB and FDIC requirements for classification as a well-capitalized institution.

                        For Classification
                        Under Corrective
              Minimum   Action Plan
        Capital Adequacy   as Well Capitalized
    Amount   Ratio   Amount   Ratio   Amount   Ratio
The Bank   (dollars in thousands)
December 31, 2015                              
       Leverage (Tier 1)                              
       capital   $      372,979   9.96%   $      149,724   4.00%   $      187,154   5.00%
Risk-Based                              
       Capital:                              
CET 1   $ 372,979   10.55%   $ 159,028   4.50%   $ 229,707   6.50%
Tier 1     372,979   10.55%     212,037   6.00%     282,716   8.00%
Total     399,551   11.31%     282,716   8.00%     353,395   10.00%
December 31, 2014                              
       Leverage (Tier 1)                              
       capital   $ 300,399   9.33%   $ 128,729   4.00%   $ 160,911   5.00%
Risk-Based                              
       Capital:                              
Tier 1   $ 300,399   10.40%   $ 115,493   4.00%   $ 173,239   6.00%
Total     314,769   10.90%     230,986   8.00%     288,732   10.00%

 

              Minimum Capital   For Classification
        Adequacy   as Well Capitalized
    Amount   Ratio   Amount   Ratio   Amount   Ratio
The Company   (dollars in thousands)
December 31, 2015                            
       Leverage (Tier 1)                            
       capital   $      339,544   9.07%   $      149,776   4.00%   N/A   N/A
Risk-Based                            
       Capital:                            
CET 1   $ 323,139   9.14%   $ 159,078   4.50%   N/A   N/A
Tier 1     339,544   9.61%     212,104   6.00%   N/A   N/A
Total     416,116   11.77%     282,805   8.00%   N/A   N/A
December 31, 2014                            
       Leverage (Tier 1)                            
       capital   $ 301,593   9.37%   $ 128,747   4.00%   N/A   N/A
Risk-Based                            
       Capital:                            
Tier 1   $ 301,593   10.44%   $ 115,561   4.00%   N/A   N/A
Total     315,963   10.94%     231,121   8.00%   N/A   N/A
v3.3.1.900
Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Comprehensive Income (Loss) [Table Text Block]

The Company’s other comprehensive income (loss) is comprised of unrealized holding gains and losses on securities available-for-sale, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, net of taxes.

                      Affected Line Item in the
Details about Accumulated Other   Amounts Reclassified from Accumulated   Statement Where Net Income is
Comprehensive Income Components   Other Comprehensive Income   Presented
    Twelve Months Ended    
    December 31,    
(dollars in thousands)   2015   2014   2013    
OTTI losses   $      -   $      -   $      (652)   Net investment securities gains
      -     -     178   Tax benefit (expense)
      -     -     (474)   Net of tax
Sale of investment securities available-for-                      
sale     3,931     2,818     2,363   Net investment securities gains
      (1,564)     (986)     (645)   Tax benefit (expense)
      2,367     1,832     1,718   Net of tax
Amortization of unrealized holding (losses)                      
gains on securities transferred from                      
available-for-sale to held-to-maturity     (220)     (215)     58   Interest income
      90     91     (19)   Tax benefit (expense)
      (130)     (124)     39   Net of tax
Amortization of net pension plan
actuarial losses		     (433)     (204)     (654)   Employee benefits expense
      177     83     267   Tax benefit (expense)
      (256)     (121)     (387)   Net of tax
Total reclassification   $ 1,981   $ 1,587   $ 896   Net of tax
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Accumulated other comprehensive loss at December 31, 2015 and 2014 consisted of the following:

    2015   2014
    (dollars in thousands)
Investment securities available for sale, net of tax   $      713   $      4,874
Cash flow hedge, net of tax     (77)     28
Unamortized component of securities transferred from            
       available-for-sale to held-to-maturity, net of tax     (1,173)     (1,301)
Defined benefit pension and post-retirement plans, net of tax     (4,072)     (4,615)
Total   $ (4,609)   $ (1,014)
v3.3.1.900
Pension and Other Benefits (Tables)
 12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]

The following table sets forth changes in projected benefit obligation, changes in fair value of plan assets, funded status, and amounts recognized in the consolidated statements of condition for the Company’s pension plans at December 31, 2015 and 2014.

    2015   2014
    (dollars in thousands)
Change in Benefit Obligation:            
Projected benefit obligation at beginning of year   $      15,074   $      13,569
Interest cost     519     576
Actuarial (gain) loss     (466)     2,023
Benefits paid     (717)     (701)
Settlements     (1,342)     (393)
Projected benefit obligation at end of year   $ 13,068   $ 15,074
 
Change in Plan Assets:            
Fair value of plan assets at beginning year   $ 10,414   $ 11,026
Actual return on plan assets     (296)     413
Employer contributions     2,000     -
Benefits paid     (717)     (701)
Settlements     (1,114)     (324)
Fair value of plan assets at end of year   $ 10,287   $ 10,414
Funded status   $ (2,781)   $ (4,660)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The Company expects to recognize approximately $295,000 of the net actuarial loss reported in the following table as of December 31, 2015 as a component of net periodic pension expense during 2016.

    2015   2014
Net actuarial loss recognized in accumulated other            
comprehensive income   $      6,677   $      7,595
Schedule of Net Benefit Costs [Table Text Block]

The net periodic pension expense and other comprehensive income (before tax) for 2015, 2014 and 2013 includes the following:

    2015   2014   2013
    (dollars in thousands)
Interest cost   $      519   $      576   $      529
Expected return on plan assets     (562)     (596)     (488)
Net amortization     433     223     375
Recognized settlement loss     650     1     -
Total net periodic pension expense   $ 1,040   $ 204   $ 416
                   
Total (gain) loss recognized in other comprehensive
       income		     (918)     1,896     (654)
Total recognized in net periodic expense and other
       comprehensive income (before tax)		   $ 122   $ 2,100   $ (238)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table presents the assumptions used to calculate the projected benefit obligation in each of the last three years.

    2015   2014   2013
Discount rate   4.06%   3.76%   4.84%
Rate of compensation increase   N/A   N/A   N/A
Expected long-term rate of return on plan assets   5.50%   5.50%   5.50%



The following information is provided for the year ended December 31:

    2015   2014   2013
    (dollars in thousands)
Weighted average assumptions used to determine net            
       periodic benefit cost for years ended December 31            
Discount rate   3.76%   4.84%   4.03%
Expected long-term return on plan assets   5.50%   5.50%   5.50%
Rate of compensation increase   N/A   N/A   N/A
Schedule of Allocation of Plan Assets [Table Text Block]

The Company’s pension plan asset allocation as of December 31, 2015 and 2014, target allocation for 2016, and expected long-term rate of return by asset are as follows:

                    Weighted
                    Average
        % of Plan   % of Plan   Expected
        Assets –   Assets –   Long-Term
    Target   Year Ended   Year Ended   Rate of
No Related Allowance Recorded   Allocation   2015   2014   Return
Equity Securities                      
       Domestic   48%     47%     42%     2.9%
       International   13%     15%     13%     0.8%
Debt and/or fixed income securities   29%     28%     36%     1.3%
Mutual funds   8%     8%     -     0.5%
Cash and other alternative investments,                      
including real estate funds, hedge funds and                      
equity structured notes   2%     2%     9%     0%
Total   100%   $      100%   $      100%   $      5.5%
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The fair values of the Company’s pension plan assets at December 31, 2015 and 2014, by asset class, are as follows:

    December 31,                  
    2015   Fair Value Measurements at Reporting Date Using
          Quoted Prices   Significant      
          in Active   Other   Significant
          Markets for   Observable   Unobservable
          Identical Assets   Inputs   Inputs
Asset Class         (Level 1)   (Level 2)   (Level 3)
    (dollars in thousands)
Cash   $      114   $      114   $      -   $      -
Equity securities:                        
       U.S. companies     4,832     4,832     -     -
       International                        
              companies     1,584     1,584     -     -
Debt and/or fixed                        
income securities     2,904     2,904            
Real estate funds     73     73     -     -
Mutual funds     780     780     -     -
       Total   $ 10,287   $ 10,287   $ -   $ -
 
 
    December 31,                  
    2014   Fair Value Measurements at Reporting Date Using
          Quoted Prices   Significant      
          in Active   Other   Significant
          Markets for   Observable   Unobservable
          Identical Assets   Inputs   Inputs
Asset Class         (Level 1)   (Level 2)   (Level 3)
    (dollars in thousands)
Cash   $ 869   $ 869   $ -   $ -
Equity securities:                        
       U.S. companies     4,304     4,304     -     -
       International                        
              companies     1,394     1,394     -     -
Debt and/or fixed                        
income securities     3,754     3,754            
Real estate funds     93     93     -     -
       Total   $ 10,414   $ 10,414   $ -   $ -
Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following benefit payments, which reflect expected future service, as appropriate, for the following years are as follows (in thousands):

2016   $      744
2017     744
2018     733
2019     744
2020     751
2021-2025     3,765
v3.3.1.900
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of stock option payment awards was estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values:

  2015   2014   2013
Weighted average fair value of grants $ -   $ -   $ 2.50-2.87
Risk-free interest rate         -%           -%     1.86-2.29%
Dividend yield   -%     -%     1.76-2.11%
Expected volatility   -%     -%          23.21-33.74%
Expected life in months         -     69-90
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

Option activity under the principal option plans as of December 31, 2015 and changes during the twelve months ended December 31, 2015 were as follows:

            Weighted-      
            Average      
      Weighted-   Remaining      
      Average   Contractual      
      Exercise   Term   Aggregate
  Shares   Price   (In Years)   Intrinsic Value
Outstanding at December 31, 2014 882,657   $ 5.65          
Granted -     -          
 
Exercised (340,492)     4.19          
Forfeited/cancelled/expired (6,259)     5.60          
Outstanding at December 31, 2015 535,906   $ 6.48   3.16   $ 6,541,740
Exercisable at December 31, 2015 532,376   $ 6.43   3.13   $ 6,526,031
Schedule of Share Based Compensation Stock Option Plan Table Text Block

Information related to the stock option plan during 2015:

  2015
Intrinsic value of options exercised $      5,218,993
Cash received from options exercised   1,424,814
Tax benefit realized from options exercised   341,000
Weighted average fair value of options granted   -
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

The below table represents information regarding restricted shares currently outstanding at December 31, 2015:

      Weighted-
      Average
  Nonvested   Grant Date
  Shares   Fair Value
Nonvested at December 31, 2014 50,303   $ 11.79
Granted 69,258     18.13
Vested (19,061)     11.53
Forfeited/cancelled/expired (3,598)     18.43
Nonvested at December 31, 2015 96,902   $ 16.81
Schedule of Unearned Performance Unit Awards [Table Text Block]

A summary of the status of unearned performance unit awards and the change during the period is presented in the table below:

      Weighted-
      Average
      Grant Date
  Shares   Fair Value
Unearned at December 31, 2014 -   $ -
Awarded 94,585     19.46
Forfeited -     -
Expired -     -
Unearned at December 31, 2015      94,585   $ 19.46
v3.3.1.900
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives [Table Text Block]

Summary information about the interest rate swap designated as a cash flow hedges as of year-end is as follows (dollars in thousands):

  December 31,   December 31,
  2015   2014
Notional amount $ 75,000   $ 50,000
Weighted average pay rates   1.56%     1.58%
Weighted average receive rates   0.44%     0.24%
Weighted average maturity   3.8 years     4.4 years
Fair value $ (131)   $ 48
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

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 year ended December 31:

    2015
    Amount of loss   Amount of loss   Amount of loss
    recognized   reclassified   recognized in other
    in OCI (Effective   from OCI to   Non-interest income
(in thousands)   Portion)   interest income   (Ineffective Portion)
Interest rate contracts   $ (179)   $ -   $ -
 
          2014      
    Amount of loss   Amount of loss   Amount of loss
    recognized   reclassified   recognized in other
    in OCI (Effective   from OCI to   Non-interest income
(in thousands)   Portion)   interest income   (Ineffective Portion)
Interest rate contracts   $ 48   $ -   $ -
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table reflects the cash flow hedges included in the Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014:

  2015   2014
  Notional         Notional      
(in thousands) Amount   Fair Value   Amount   Fair Value
Included in other assets/(liabilities):                      
       Interest rate swaps related to FHLB Advances $ 75,000   $ (131)   $ 50,000   $ 48
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2015 and December 31, 2014 are as follows:

          December 31, 2015
          Fair Value Measurements at Reporting Date Using
          Quoted Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
          Assets   Inputs   Inputs
          (Level 1)   (Level 2)   (Level 3)
(in thousands)                        
Recurring fair value measurements:                        
Assets                        
Investment securities:                        
       Available-for-sale:                        
              Federal agency obligations   $ 29,146   $ -   $ 29,146   $ -
              Residential mortgage pass-                        
                     through securities     44,910     -     44,910     -
              Commercial mortgage pass-                        
                     through securities     2,972     -     2,972     -
              Obligations of U.S. states and                        
                     political subdivision     8,357     -     8,357     -
              Trust preferred securities     16,255     -     16,255     -
              Corporate bonds and notes     53,976     -     53,976     -
              Asset-backed securities     19,725     -     19,725     -
              Certificates of deposit     1,905     -     1,905     -
              Equity securities     374     374     -     -
              Other securities     18,150     18,150     -     -
       Total available-for-sale     195,770     18,524     177,246     -
Loans held for sale     -     -     -     -
       Total assets   $      195,770   $ 18,524   $ 177,246   $ -
Liabilities                        
Derivatives   $ 131   $ -   $ 131   $ -
Total liabilities   $ 131   $ -   $ 131   $ -



        December 31, 2014
        Fair Value Measurements at Reporting Date Using
        Quoted Prices            
        in Active   Significant      
        Markets for   Other   Significant
        Identical   Observable   Unobservable
        Assets   Inputs   Inputs
        (Level 1)   (Level 2)   (Level 3)
(in thousands)                      
Recurring fair value measurements:                      
Assets                      
Investment securities:                      
       Available-for-sale:                      
              Federal agency obligations $ 32,817   $ -   $ 32,817   $ -
              Residential mortgage pass-                      
                     through securities   60,356     -     60,356     -
              Commercial mortgage pass-                      
                     through securities   3,046     -     3,046     -
              Obligations of U.S. states and                      
                     political subdivision   8,406     -     8,406     -
              Trust preferred securities   16,306     -     16,306     -
              Corporate bonds and notes   125,777     -     125,777     -
              Asset-backed securities   27,502     -     27,502     -
              Certificates of deposit   2,123     -     2,123     -
              Equity securities   307     307     -     -
              Other securities   12,892     12,892     -     -
       Total available-for-sale   289,532     13,199     276,333     -
Derivatives   48     -     48     -
       Total assets $      289,580   $ 13,199   $ 276,381   $ -
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

The Company primarily utilized appraisal value less cost to sell and other unobservable market inputs to determine fair value of assets, and therefore, these valuations are classified as a Level 3 measurement. For assets measured at fair value on a non-recurring basis, the fair value measurements at December 31, 2015 and 2014 are as follows:

Impaired loans   Valuation Techniques   Range of Unobservable Inputs
Commercial   Appraisals of collateral value   Adjustment for age of comparable sales, generally a decline of 0% to 15%. Adjustments for age of lease payments. Market capitalization rates between 4% and 8%.
         
Commercial real estate   Appraisals of collateral value   Market capitalization rates between 8% and 12%. Market rental rates for similar properties
Fair Value Measurements, Nonrecurring [Table Text Block]
          Fair Value Measurements at Reporting Date Using
          Quoted            
          Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
Assets measured at fair value on a nonrecurring   December 31,   Assets   Inputs   Inputs
basis:   2015   (Level 1)   (Level 2)   (Level 3)
Impaired loans   (in thousands)
Commercial   $ 77,717   $ -   $ -   $ 77,717
 
          Fair Value Measurements at Reporting Date Using
          Quoted            
          Prices            
          in Active   Significant      
          Markets for   Other   Significant
          Identical   Observable   Unobservable
Assets Measured at Fair Value on a Non-   December 31,   Assets   Inputs   Inputs
Recurring Basis   2014   (Level 1)   (Level 2)   (Level 3)
Impaired loans   (in thousands)  
Commercial   $ 276   $ -   $ -   $ 276
Commercial real estate     3,369     -     -     3,369
Fair Value, by Balance Sheet Grouping [Table Text Block]

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2015 and December 31, 2014.

              Fair Value Measurements
              Quoted            
              Prices in            
              Active   Significant      
              Markets for   Other   Significant
              Identical   Observable   Unobservable
  Carrying   Fair   Assets   Inputs   Inputs
  Amount   Value   (Level 1)   (Level 2)   (Level 3)
  (in thousands)
December 31, 2015                            
Financial assets                            
Cash and due from banks $ 200,895   $ 200,895   $ 200,895   $ -   $ -
Investment securities available-for-sale   195,770     195,770     18,524     177,246     -
Investment securities held-to-maturity   224,056     230,558     29,226     182,774     18,558
Restricted investment in bank stocks   32,612     n/a     n/a     n/a     n/a
Net loans        3,072,435          3,059,343     -     -     3,059,343
Accrued interest receivable   12,545     12,545     68     2,699     9,778
 
Financial liabilities                            
Noninterest-bearing deposits   650,775     650,775     650,775     -     -
Interest-bearing deposits   2,140,191     2,137,149     -     2,137,149     -
Borrowings   671,587     674,131     -     674,131     -
Subordinated debentures   55,155     55,209     -     55,209     -
Derivatives   131     131     -     131     -
Accrued interest payable   4,387     4,387     -     4,387     -
 
December 31, 2014                            
Financial assets                            
Cash and due from banks $ 126,847   $ 126,847   $ 126,847   $ -   $ -
Investment securities available-for-sale   289,532     289,532     13,199     276,333     -
Investment securities held-to-maturity   224,682     231,445     29,184     183,489     18,772
Restricted investment in bank stocks   23,535     n/a     n/a     n/a     n/a
Net loans   2,524,481     2,538,415     -     -     2,538,415
Derivatives   48     48     -     48     -
Accrued interest receivable   11,700     11,700     68     3,674     7,958
 
Financial liabilities                            
Noninterest-bearing deposits   492,516     492,516     492,516     -     -
Interest-bearing deposits   1,983,091     1,990,484     -     1,990,484     -
Borrowings   495,553     505,641     -     505,641     -
Subordinated debentures   5,155     4,768     -     4,768     -
Accrued interest payable   3,930     3,930     -     3,930     -
v3.3.1.900
Parent Corporation Only Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet [Table Text Block]

Condensed Statements of Condition

    At December 31,
    2015   2014
      (Dollars in Thousands)
ASSETS            
Cash and cash equivalents   $ 14,857   $ 274
Investment in subsidiaries     515,934     450,185
Securities available for sale     533     463
Other assets     3,070     2,250
Total assets   $ 534,394   $ 453,172
 
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Other liabilities   $ 1,895   $ 1,798
Subordinated debentures     55,155     5,155
Stockholders’ equity     477,344     446,219
Total liabilities and stockholders’ equity   $      534,394   $      453,172
Condensed Income Statement [Table Text Block]

Condensed Statements of Income

    For Years Ended December 31,
    2015   2014   2013
    (Dollars in Thousands)
Income:                  
Dividend income from subsidiaries   $ 10,537   $ 9,276   $ 4,393
Other income     7     6     6
Net gains on available for sale securities     -     -     22
Management fees     -     100     353
Total Income     10,544     9,382     4,774
Expenses     (1,705)     (707)     (765)
Income before equity in undistributed earnings                  
       of subsidiaries     8,839     8,675     4,009
Equity in undistributed earnings of subsidiaries     32,472     9,890     15,916
Net Income   $      41,311   $      18,565   $      19,925
Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows

    For Years Ended December 31
    2015   2014   2013
    (Dollars in Thousands)
Cash flows from operating activities:                  
Net income   $ 41,311   $ 18,565   $ 19,925
Adjustments to reconcile net income to net cash                  
       provided by operating activities:                  
Net gains on sales of available for sale securities     -     -     (22)
Equity in undistributed earnings of subsidiary     (32,472)     (9,890)     (15,916)
 
Increase in other assets     (820)     (1,979)     (167)
Decrease in other liabilities     (1,840)     (1,010)     (276)
Stock based compensation     747     223     59
       Net cash provided by operating activities     6,926     5,909     3,603
Cash flows from investing activities:                  
Proceeds from sales of available-for-sale securities     -     -     181
Capital infusion to subsidiary     (35,000)     -     -
       Net cash provided by (used in) investing activities     (35,000)     -     181
Cash flows from financing activities:                  
 
Proceeds from subordinated debt     50,000     -     -
Cash dividends on common stock     (8,996)     (6,940)     (4,254)
Cash dividends on preferred stock     (112)     (140)     (141)
Issuance of restricted stock award     -     -     243
Issuance cost of common stock     -     (7)     (13)
 
Proceeds from exercise of stock options     1,424     885     21
Tax expense from stock based compensation     341     282     16
       Net cash used in financing activities     42,657     (5,920)     (4,128)
Decrease in cash and cash equivalents     14,583     (11)     (344)
Cash and cash equivalents at beginning of year     274     285     629
Cash and cash equivalents at the end of year   $      14,857   $      274   $      285
v3.3.1.900
Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information [Table Text Block]

Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited)

    2015
    4th Quarter   3rd Quarter   2nd Quarter   1st Quarter
    (Dollars in Thousands, Except per Share Data)
Total interest income   $ 37,230   $ 36,186   $ 34,181   $ 33,370
Total interest expense     6,774     6,459     5,503     5,078
Net interest income     30,456     29,727     28,678     28,292
Provision for loan and lease losses     5,055     4,175     1,550     1,825
Total other income, net of securities                        
       gains     1,225     1,752     3,215     1,049
Net securities gains     1,138     2,067     221     506
Other expense     13,579     13,301     14,974     12,631
Income before income taxes     14,185     16,070     15,590     15,391
Provision from income taxes     4,617     5,228     5,069     5,012
Net income     9,568     10,842     10,521     10,379
Preferred dividends     28     28     28     28
Net income available to common                        
stockholders     9,540     10,814     10,493     10,351
 
Earnings per share:                        
Basic   $ 0.32   $ 0.36   $ 0.35   $ 0.35
Diluted   $ 0.31   $ 0.36   $ 0.35   $ 0.34
Weighted average common shares                        
       outstanding:                        
Basic     30,033,062     30,045,818     29,868,247     29,757,316
Diluted     30,310,905     30,335,571     30,231,480     30,149,469
 
    2014
    4th Quarter   3rd Quarter   2nd Quarter   1st Quarter
    (Dollars in Thousands, Except per Share Data)
Total interest income   $ 33,130   $ 32,343   $ 14,401   $ 14,337
Total interest expense     4,550     4,797     2,733     2,727
Net interest income     28,580     27,546     11,668     11,610
Provision for loan and lease losses     2,474     1,300     284     625
Total other income, net of securities                        
       gains     1,358     1,062     1,150     1,106
Net securities (losses) gains     718     111     574     1,415
Other expense     15,164     25,400     6,744     7,496
Income before income taxes     13,018     2,019     6,364     6,010
Provision from income taxes     4,995     253     1,986     1,612
Net income     8,023     1,766     4,378     4,398
Preferred dividends     28     28     28     28
Net income available to common                        
stockholders     7,995     1,738     4,350     4,370
 
Earnings per share:                        
Basic   $ 0.27   $ 0.06   $ 0.27   $ 0.27
Diluted   $      0.27   $      0.06   $      0.26   $      0.27
Weighted average common shares                        
       outstanding:                        
Basic     29,699,301     29,636,001     16,372,885     16,350,183
Diluted     30,149,244     30,108,103     16,430,376     16,405,540

Note: Due to rounding, quarterly earnings per share may not sum to reported annual earnings per share.
v3.3.1.900
Summary of Significant Accounting Policies (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Integer
Dec. 31, 2014
Integer
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]    
Number of offices merge   21
Number of Operating Segments 1  
Maximum Maturity of Cash and Cash Equivalents 90 days  
Asset Impairment Charges | $ $ 700  
Number of Segments of Loans and Leases 5  
Loans Delinquent Period 90 days  
Non Accrual Contractual Due 90 days  
Non Accrual Payment Status 90 days  
Threshold Amount of Loan for Evaluation of Impairment | $ $ 250  
Rolling Calculations Years 3 years  
Effective Income Tax Rate Reconciliation, Deduction, Medicare Prescription Drug Benefit, Percent 50.00%  
Land, Buildings and Improvements [Member] | Minimum [Member]    
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]    
Property, Plant and Equipment, Useful Life 4 years  
Land, Buildings and Improvements [Member] | Maximum [Member]    
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]    
Property, Plant and Equipment, Useful Life 39 years  
Furniture Fixtures And Equipment [Member] | Minimum [Member]    
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]    
Property, Plant and Equipment, Useful Life 3 years  
Furniture Fixtures And Equipment [Member] | Maximum [Member]    
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]    
Property, Plant and Equipment, Useful Life 10 years  
v3.3.1.900
Summary of Significant Accounting Policies (Details) - Schedule of earnings per common share basic and diluted - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of earnings per common share basic and diluted [Abstract]                      
Net income $ 9,568 $ 10,842 $ 10,521 $ 10,379 $ 8,023 $ 1,766 $ 4,378 $ 4,398 $ 41,311 $ 18,565 $ 19,925
Preferred stock dividends                 112 112 141
Net income available to common stockholders $ 9,540 $ 10,814 $ 10,493 $ 10,351 $ 7,995 $ 1,738 $ 4,350 $ 4,370 $ 41,199 $ 18,453 $ 19,784
Average number of common shares outstanding 30,033,062 30,045,818 29,868,247 29,757,316 29,699,301 29,636,001 16,372,885 16,350,183 29,938,458 23,029,813 16,349,204
Effect of dilutive options                 346 449 37
Average number of common shares outstanding used to calculate diluted earnings per common share 30,310,905 30,335,571 30,231,480 30,149,469 30,149,244 30,108,103 16,430,376 16,405,540 30,283,966 23,479,074 16,385,692
Anti-dilutive common shares outstanding                 14
Earnings per common share:                      
Basic $ 0.32 $ 0.36 $ 0.35 $ 0.35 $ 0.27 $ 0.06 $ 0.27 $ 0.27 $ 1.38 $ 0.80 $ 1.21
Diluted $ 0.31 $ 0.36 $ 0.35 $ 0.34 $ 0.27 $ 0.06 $ 0.26 $ 0.27 $ 1.36 $ 0.79 $ 1.21
v3.3.1.900
Business Combinations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Jul. 01, 2014
Business Combinations (Details) [Line Items]    
Common Stock Conversion Ratio Shares (in Shares) 2.6  
Goodwill Recorded in Business Acquisition $ 129,105 $ 129,105
Finite Lived Intangible Asset Acquired   5,308
Business Combination, Consideration Transferred $ 264,231  
Finite-Lived Intangible Asset, Useful Life 10 years  
Business Combination, Acquisition Related Costs $ 12,400  
Business Combination Expenses Excluded from Non Interest Expenses 12,400  
Business Combination Income Tax Benefits Related To Merger Expenses $ 5,600  
Legacy Connect One [Member]    
Business Combinations (Details) [Line Items]    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets   15,000
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Non Current Loans   12,000
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Non Current Deposits   $ 11,000
v3.3.1.900
Business Combinations (Details) - Schedule of business combinations - USD ($)
$ in Thousands
Dec. 31, 2015
Jul. 01, 2014
Business Acquisition [Line Items]    
Cash and cash equivalents $ 70,318  
Investment securities 28,452  
Restricted stock 13,646  
Loans held for sale 190  
Loans 1,299,284  
Bank owned life insurance 15,481  
Premises and equipment 6,475  
Accrued interest receivable 4,470  
Core deposit and other intangibles 5,308  
Other real estate owned 2,455  
Other assets 14,286  
Deposits (1,051,342)  
Borrowings (263,370)  
Other liabilities (10,527)  
Total identifiable net assets 135,126  
Goodwill recorded in the Merger $ 129,105 $ 129,105
Fair Value Adjustments [Member]    
Business Acquisition [Line Items]    
Cash and cash equivalents  
Investment securities [1] $ 16  
Restricted stock  
Loans held for sale  
Loans [2] $ (5,316)  
Bank owned life insurance  
Premises and equipment [3] $ (905)  
Accrued interest receivable  
Core deposit and other intangibles [4] $ 5,308  
Other real estate owned  
Other assets [5] $ 3,650  
Deposits [6] (1,676)  
Borrowings [7] $ (1,324)  
Other liabilities  
Total identifiable net assets $ (247)  
Legacy Connect One [Member]    
Business Acquisition [Line Items]    
Cash and cash equivalents 70,318  
Investment securities 28,436  
Restricted stock 13,646  
Loans held for sale 190  
Loans 1,304,600  
Bank owned life insurance 15,481  
Premises and equipment 7,380  
Accrued interest receivable $ 4,470  
Core deposit and other intangibles  
Other real estate owned $ 2,455  
Other assets 10,636  
Deposits (1,049,666)  
Borrowings (262,046)  
Other liabilities (10,527)  
Total identifiable net assets $ 135,373  
[1] Represents the fair value adjustment on investment securities held to maturity.
[2] Represents the elimination of Legacy ConnectOne's allowance for loan and lease losses, deferred fees, deferred costs and an adjustment of the amortized cost of loans to estimated fair value, which includes an interest rate mark and credit mark.
[3] Represent an adjustment to reflect the fair value of above-market rent on leased premises. The above-market rent adjustment will be amortized on a straight-line basis over the remaining term of the respective leases
[4] Represents intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base.
[5] Consist primarily of adjustments in net deferred tax assets resulting from the fair value adjustments related to acquired assets, liabilities assumed and identifiable intangibles recorded.
[6] Represents fair value adjustment on time deposits as the weighted average interest rates of time deposits assumed exceeded the costs of similar funding available in the market at the time of the Merger, as well as the elimination of fees paid on brokered time deposits.
[7] Represents the fair value adjustment on FHLB borrowings as the weighted average interest rate of FHLB borrowings assumed exceeded the cost of similar funding available in the market at the time of the Merger.
v3.3.1.900
Business Combinations (Details) - Loans accounted for in accordance with ASC 310-30 - Loans Accounted For In Accordance With Fasb Asc 31030 [Member]
$ in Thousands
Jul. 01, 2014
USD ($)
Business Combinations (Details) - Loans accounted for in accordance with ASC 310-30 [Line Items]  
Contractual principal and accrued interest at acquisition $ 23,284
Principal not expected to be collected (non-accretable discount) (6,942)
Expected cash flows at acquisition 16,342
Interest component of expected cash flows (accretable discount) (5,013)
Fair value of acquired loans $ 11,329
v3.3.1.900
Business Combinations (Details) - Schedule of Operating Results Attributable to Business Combinations - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
BUSINESS COMBINATIONS (Details) - Schedule of Operating Results Attributable to Business Combinations [Line Items]                      
Net interest income $ 30,456 $ 29,727 $ 28,678 $ 28,292 $ 28,580 $ 27,546 $ 11,668 $ 11,610 $ 117,153 $ 79,399 $ 46,186
Noninterest income                 11,173 7,498 6,851
Net income $ 9,568 $ 10,842 $ 10,521 $ 10,379 $ 8,023 $ 1,766 $ 4,378 $ 4,398 $ 41,311 18,565 19,925
Legacy Connect One [Member]                      
BUSINESS COMBINATIONS (Details) - Schedule of Operating Results Attributable to Business Combinations [Line Items]                      
Net interest income                   107,988 95,749
Noninterest income                   8,244 8,053
Noninterest expense                   (54,749) (45,827)
Net income                   $ 45,981 $ 35,984
Pro forma earnings per share from continuing operations:                      
Basic                   $ 1.55 $ 0.91
Diluted                   $ 1.53 $ 0.90
v3.3.1.900
Investment Securities (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Investments, Debt and Equity Securities [Abstract]      
Other Asset Impairment Charges $ 628
Number of Investment Securities Sold 74 54  
Available-for-sale Securities Pledged as Collateral $ 142,500 $ 224,700  
Description of Holding Securities there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.    
v3.3.1.900
Investment Securities (Details) - Unrealized gains on investment securities - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost $ 194,619 $ 281,461
Investment Securities Available-for-Sale, Gross Unrealized Gains 2,271 8,596
Investment Securities Available-for-Sale, Gross Unrealized Losses (1,120) (525)
Investment Securities Available-for-Sale, Fair Value 195,770 289,532
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 224,056 224,682
Investment Securities Held-to-Maturity, Gross Unrealized Gains 6,793 6,858
Investment Securities Held-to-Maturity, Gross Unrealized Losses (291) (95)
Investment Securities Held-to-Maturity, Fair Value 230,558 231,445
US Treasury Securities [Member]    
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 28,471 28,264
Investment Securities Held-to-Maturity, Gross Unrealized Gains $ 755 $ 920
Investment Securities Held-to-Maturity, Gross Unrealized Losses
Investment Securities Held-to-Maturity, Fair Value $ 29,226 $ 29,184
Federal Agency Obligations [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 29,062 32,650
Investment Securities Available-for-Sale, Gross Unrealized Gains 142 217
Investment Securities Available-for-Sale, Gross Unrealized Losses (58) (50)
Investment Securities Available-for-Sale, Fair Value 29,146 32,817
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 33,616 27,103
Investment Securities Held-to-Maturity, Gross Unrealized Gains 280 322
Investment Securities Held-to-Maturity, Gross Unrealized Losses (119) (28)
Investment Securities Held-to-Maturity, Fair Value 33,777 27,397
Residential Mortgage Backed Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 44,155 58,836
Investment Securities Available-for-Sale, Gross Unrealized Gains 803 1,531
Investment Securities Available-for-Sale, Gross Unrealized Losses (48) (11)
Investment Securities Available-for-Sale, Fair Value 44,910 60,356
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 3,805 5,955
Investment Securities Held-to-Maturity, Gross Unrealized Gains 11 28
Investment Securities Held-to-Maturity, Gross Unrealized Losses (6)  
Investment Securities Held-to-Maturity, Fair Value 3,810 5,983
Commercial Mortgage Backed Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost $ 2,981 3,042
Investment Securities Available-for-Sale, Gross Unrealized Gains 4
Investment Securities Available-for-Sale, Gross Unrealized Losses $ (9)  
Investment Securities Available-for-Sale, Fair Value 2,972 3,046
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 4,110 4,266
Investment Securities Held-to-Maturity, Gross Unrealized Gains 27 50
Investment Securities Held-to-Maturity, Gross Unrealized Losses (2)  
Investment Securities Held-to-Maturity, Fair Value 4,135 4,316
US States and Political Subdivisions Debt Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 8,188 8,201
Investment Securities Available-for-Sale, Gross Unrealized Gains $ 169 205
Investment Securities Available-for-Sale, Gross Unrealized Losses  
Investment Securities Available-for-Sale, Fair Value $ 8,357 8,406
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 118,015 120,144
Investment Securities Held-to-Maturity, Gross Unrealized Gains 5,001 4,512
Investment Securities Held-to-Maturity, Gross Unrealized Losses (3) (60)
Investment Securities Held-to-Maturity, Fair Value 123,013 124,596
Corporate Bonds And Notes [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 53,566 119,838
Investment Securities Available-for-Sale, Gross Unrealized Gains 702 5,950
Investment Securities Available-for-Sale, Gross Unrealized Losses (292) (11)
Investment Securities Available-for-Sale, Fair Value 53,976 125,777
Investment securities held-to-maturity    
Investment Securities Held-to-Maturity, Amortized Cost 36,039 38,950
Investment Securities Held-to-Maturity, Gross Unrealized Gains 719 1,026
Investment Securities Held-to-Maturity, Gross Unrealized Losses (161) (7)
Investment Securities Held-to-Maturity, Fair Value 36,597 39,969
Trust Preferred Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 16,088 16,086
Investment Securities Available-for-Sale, Gross Unrealized Gains 398 489
Investment Securities Available-for-Sale, Gross Unrealized Losses (231) (269)
Investment Securities Available-for-Sale, Fair Value 16,255 16,306
Asset-backed Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 20,005 27,393
Investment Securities Available-for-Sale, Gross Unrealized Gains 18 140
Investment Securities Available-for-Sale, Gross Unrealized Losses (298) (31)
Investment Securities Available-for-Sale, Fair Value 19,725 27,502
Certificates of Deposit [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 1,895 2,098
Investment Securities Available-for-Sale, Gross Unrealized Gains 18 27
Investment Securities Available-for-Sale, Gross Unrealized Losses (8) (2)
Investment Securities Available-for-Sale, Fair Value 1,905 2,123
Equity Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost 376 376
Investment Securities Available-for-Sale, Gross Unrealized Gains 21  
Investment Securities Available-for-Sale, Gross Unrealized Losses (23) (69)
Investment Securities Available-for-Sale, Fair Value 374 307
Other Securities [Member]    
Investment securities available-for-sale    
Investment Securities Available-for-Sale, Amortized Cost $ 18,303 12,941
Investment Securities Available-for-Sale, Gross Unrealized Gains 33
Investment Securities Available-for-Sale, Gross Unrealized Losses $ (153) (82)
Investment Securities Available-for-Sale, Fair Value $ 18,150 $ 12,892
v3.3.1.900
Investment Securities (Details) - Investments classified by maturity date - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Investment securities available-for-sale:    
Due in one year or less $ 13,543  
Due in one year or less 13,587  
Due after one year through five years 21,730  
Due after one year through five years 22,137  
Due after five years through ten years 44,371  
Due after five years through ten years 44,391  
Due after ten years 49,160  
Due after ten years 49,249  
Total 194,619 $ 281,461
Total 195,770  
Investment securities held-to-maturity:    
Due in one year or less 1,000  
Due in one year or less 998  
Due after one year through five years 13,123  
Due after one year through five years 13,380  
Due after five years through ten years 80,274  
Due after five years through ten years 82,739  
Due after ten years 121,744  
Due after ten years 125,496  
Total 224,056 224,682
Investment Securities Held-to-Maturity, Fair Value 230,558 231,445
Total investment securities 418,675  
Total investment securities 426,328  
Residential Mortgage Backed Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Amortized Cost 44,155  
Investment Securities Available-for-Sale: Fair Value 44,910  
Total 44,155 58,836
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Amoritzed Cost 3,805  
Investment Securities Held-to-Maturity: Fair Value 3,810  
Investment Securities Held-to-Maturity, Fair Value 3,810 5,983
Commercial Mortgage Backed Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Amortized Cost 2,981  
Investment Securities Available-for-Sale: Fair Value 2,972  
Total 2,981 3,042
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Amoritzed Cost 4,110  
Investment Securities Held-to-Maturity: Fair Value 4,135  
Investment Securities Held-to-Maturity, Fair Value 4,135 4,316
Equity Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Amortized Cost 376  
Investment Securities Available-for-Sale: Fair Value 374  
Total 376 376
Other Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Amortized Cost 18,303  
Investment Securities Available-for-Sale: Fair Value 18,150  
Total $ 18,303 $ 12,941
v3.3.1.900
Investment Securities (Details) - Schedule of realized gains and losses - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of realized gains and losses [Abstract]      
Proceeds $ 65,231 $ 81,844 $ 122,165
Gross gains on sales of investment securities $ 3,931 2,837 2,451
Gross losses on sales of investment securities 19 88
Net gains on sales of investment securities $ 3,931 2,818 2,363
Less: tax provision on net gains (1,376) (986) (645)
Net gains on sales of investment securities $ 2,555 $ 1,832 $ 1,718
v3.3.1.900
Investment Securities (Details) - Schedule of OTTI charges - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of OTTI charges [Abstract]      
Pooled trust preferred securities $ 628
Principal losses on a variable rate CMO 24
Total other-than-temporary impairment charges $ 652
v3.3.1.900
Investment Securities (Details) - Schedule of unrealized losses not recognized in income - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value $ 62,566 $ 31,583
Investment Securities Available-for-Sale: Total, Unrealized Losses (1,120) (525)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 48,178 22,545
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses (468) (85)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value 14,388 9,038
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (652) (440)
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value 22,882 12,562
Investment Securities Held-to-Maturity: Total, Unrealized Losses (291) (95)
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 22,111 5,622
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses (281) (38)
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value 771 6,940
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses (10) (57)
Fair Value, Total 85,448 44,145
Unrealized Losses, Total (1,411) (620)
Fair Value, Less than 12 Months 70,289 28,167
Unrealized Losses, Less than 12 Months (749) (123)
Fair Value, 12 Months or Longer 15,159 15,978
Unrealized Losses, 12 Months or Longer (662) (497)
Federal Agency Obligations [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value 12,260 6,755
Investment Securities Available-for-Sale: Total, Unrealized Losses (58) (50)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 12,013 2,770
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses (54) (9)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value 247 3,985
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (4) (41)
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value 12,554 3,228
Investment Securities Held-to-Maturity: Total, Unrealized Losses (119) (28)
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 11,783 3,228
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses (109) (28)
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value 771  
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses (10)  
Residential Mortgage Backed Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value 9,027 5,694
Investment Securities Available-for-Sale: Total, Unrealized Losses (48) (11)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 9,027 5,694
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses $ (48) (11)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value  
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses  
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value $ 2,480  
Investment Securities Held-to-Maturity: Total, Unrealized Losses (6)  
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 2,480  
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses $ (6)  
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value  
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses  
Commercial Mortgage Backed Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value $ 2,971  
Investment Securities Available-for-Sale: Total, Unrealized Losses (9)  
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 2,971  
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses $ (9)  
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value  
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses  
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value $ 1,331  
Investment Securities Held-to-Maturity: Total, Unrealized Losses (2)  
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 1,331  
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses $ (2)  
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value  
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses  
Obligation Of Us States And Political Subdivisions [Member]    
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value $ 981 8,341
Investment Securities Held-to-Maturity: Total, Unrealized Losses (3) (60)
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 981 1,401
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses $ (3) (3)
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value 6,940
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses (57)
Trust Preferred Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value $ 1,345 1,307
Investment Securities Available-for-Sale: Total, Unrealized Losses $ (231) (269)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value  
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses  
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value $ 1,345 1,307
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (231) (269)
Corporate Bonds And Notes [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value 16,533 1,961
Investment Securities Available-for-Sale: Total, Unrealized Losses (292) (11)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 12,702 1,961
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses (161) (11)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value 3,831  
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (131)  
Investment securities held-to-maturity:    
Investment Securities Held-to-Maturity: Total, Fair Value 5,536 993
Investment Securities Held-to-Maturity: Total, Unrealized Losses (161) (7)
Investment Securities Held-to-Maturity: Less than 12 Months, Fair Value 5,536 993
Investment Securities Held-to-Maturity: Less than 12 Months, Unrealized Losses $ (161) (7)
Investment Securities Held-to-Maturity: 12 Months or Longer, Fair Value  
Investment Securities Held-to-Maturity: 12 Months or Longer, Unrealized Losses  
Asset-backed Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value $ 14,745 9,773
Investment Securities Available-for-Sale: Total, Unrealized Losses (298) (31)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 11,250 9,773
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses (188) (31)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value 3,495  
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (110)  
Certificates of Deposit [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value 215 369
Investment Securities Available-for-Sale: Total, Unrealized Losses (8) (2)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 215 369
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses $ (8) (2)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value  
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses  
Equity Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value $ 123 307
Investment Securities Available-for-Sale: Total, Unrealized Losses $ (23) (69)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value  
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses  
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value $ 123 307
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses (23) (69)
Other Securities [Member]    
Investment securities available-for-sale:    
Investment Securities Available-for-Sale: Total, Fair Value 5,347 5,417
Investment Securities Available-for-Sale: Total, Unrealized Losses $ (153) (82)
Investment Securities Available-for-Sale: Less than 12 Months, Fair Value 1,978
Investment Securities Available-for-Sale: Less than 12 Months, Unrealized Losses (21)
Investment Securities Available-for-Sale: 12 Months or Longer, Fair Value $ 5,347 3,439
Investment Securities Available-for-Sale: 12 Months or Longer, Unrealized Losses $ (153) $ (61)
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Details) [Line Items]      
Non Accrual Contractual Due 90 days    
Loans Pledged as Collateral $ 160,000 $ 100,000  
Capital Leases, Net Investment in Direct Financing Leases, Minimum Payments to be Received 4,105 4,267  
Capital Leases Net Investment In Direct Financing Leases Unearned Interest Income 394 538  
Capital Leases, Net Investment in Direct Financing Leases 3,712 3,729  
Loans performing under the restructured terms 85,900 1,800 $ 5,700
Troubled debt restructurings 85,600 2,800  
Financing Receivable, Collectively Evaluated for Impairment 2,985,509 2,516,251  
Allowance for Loan and Lease Losses Period Increase Decrease Due to Trouble Debt Restructuring $ 4,500    
Debt Instrument, Interest Rate, Stated Percentage Rate Range 5.75%    
Debt Instrument, Interest Rate, Increase (Decrease) 3.75%    
Specific allocations associated with taxi medallion, fair value $ 4,500 0  
Valuation per Medallion Amount 800    
Commitments to Lend Additional Funds 0    
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down 4,500 333  
Specific allowance for the net investment in direct lease financing $ 1,300    
Minimum [Member]      
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Details) [Line Items]      
Amortization Period For Interest 25 years    
Debt Instrument, Interest Rate, Stated Percentage Rate Range 3.00%    
Maximum [Member]      
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Details) [Line Items]      
Amortization Period For Interest 30 years    
Debt Instrument, Interest Rate, Stated Percentage Rate Range 3.25%    
Acquired Loans [Member]      
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Details) [Line Items]      
Financing Receivable, Collectively Evaluated for Impairment $ 867,000 120,000  
Real Estate Loan [Member]      
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Details) [Line Items]      
Financing Receivable, Collectively Evaluated for Impairment $ 672,000 $ 809,000  
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Composition of loan portfolio - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans $ 3,101,794 $ 2,539,531
Net deferred loan (fees) costs (2,787) (890)
Total loans receivable 3,099,007 2,538,641
Commercial Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 570,116 499,816
Commercial Real Estate Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 1,966,696 1,634,510
Construction Loans [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 328,838 167,359
Residential Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 233,690 234,967
Consumer Portfolio Segment [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans $ 2,454 $ 2,879
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans [Line Items]    
Total carrying amount $ 9,181 $ 9,821
Commercial Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans [Line Items]    
Total carrying amount 7,078 7,199
Commercial Real Estate Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans [Line Items]    
Total carrying amount $ 1,775 1,816
Construction Loans [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans [Line Items]    
Total carrying amount  
Residential Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Purchase credit impaired loans [Line Items]    
Total carrying amount $ 328 $ 806
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Schedule of accretable yield, or income expected to be collected - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Schedule of accretable yield, or income expected to be collected [Abstract]    
Beginning balance $ 4,805 $ 5,013
Accretion of income $ (1,206) (142)
Disposals (66)
Ending balance $ 3,599 $ 4,805
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status [Line Items]    
Financing Receivable, Recorded Investment, Nonaccrual Status $ 20,736 $ 11,609
Commercial Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status [Line Items]    
Financing Receivable, Recorded Investment, Nonaccrual Status 6,586 616
Commercial Real Estate Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status [Line Items]    
Financing Receivable, Recorded Investment, Nonaccrual Status 9,112 $ 8,197
Construction Loans [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status [Line Items]    
Financing Receivable, Recorded Investment, Nonaccrual Status 1,479
Residential Portfolio Segment [Member]    
Loans and the Allowance for Loan and Lease Losses (Details) - Loans receivable on nonaccrual status [Line Items]    
Financing Receivable, Recorded Investment, Nonaccrual Status $ 3,559 $ 2,796
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Credit quality indicators - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount $ 3,101,794 $ 2,539,531
Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 2,939,890 2,477,674
Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 31,412 19,305
Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 130,253 42,263
Doubtful [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 239 289
Commercial Portfolio Segment [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 570,116 499,816
Commercial Portfolio Segment [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 462,358 481,927
Commercial Portfolio Segment [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 11,760 3,686
Commercial Portfolio Segment [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 95,998 14,203
Commercial Real Estate Portfolio Segment [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 1,966,696 1,634,510
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 1,919,041 1,596,317
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 18,990 14,140
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 28,426 23,764
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 239 289
Construction Loans [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 328,838 167,359
Construction Loans [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 326,697 165,880
Construction Loans [Member] | Special Mention [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 662 1,479
Construction Loans [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 1,479  
Residential Portfolio Segment [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 233,690 234,967
Residential Portfolio Segment [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 229,426 230,772
Residential Portfolio Segment [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 4,264 4,195
Consumer Portfolio Segment [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 2,454 2,879
Consumer Portfolio Segment [Member] | Pass [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount 2,368 2,778
Consumer Portfolio Segment [Member] | Substandard [Member]    
Financing Receivable, Recorded Investment [Line Items]    
Loans and Leases Receivable, Gross, Carrying Amount $ 86 $ 101
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Schedule of analysis of impaired loans, by class - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment $ 22,318 $ 9,552 $ 12,909
No related allowance recorded, Unpaid Principal Balance 23,173 10,891 13,352
No Related Allowance Average Recorded Investment 12,002 10,047 13,172
No Related Allowance Interest Income Recognized 75 170 621
With an allowance recorded, Recorded Investment 84,400 3,907 5,016
With an allowance recorded, Unpaid Principal Balance   3,909 5,016
With an allowance recorded, Related Allowance   261 415
With An Allowance Recorded Average Recorded Investment   3,973 5,046
With An Allowance Recorded Interest Income Recognized   171 243
Total, Recorded Investment 107,104 13,459 17,925
Total, Unpaid Principal Balance 108,162 14,531 18,368
Total, Related Allowance 6,725 261 415
Total Impaired Average Recorded Investment 67,447 14,019 18,218
Total Impaired Interest Income Recognized 1,970 342 864
Commercial Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment 610 481 449
No related allowance recorded, Unpaid Principal Balance 645 527 449
No Related Allowance Average Recorded Investment 686 494 494
No Related Allowance Interest Income Recognized     25
With an allowance recorded, Recorded Investment 84,787 387 672
With an allowance recorded, Unpaid Principal Balance 84,449 389 672
With an allowance recorded, Related Allowance 6,725 111 300
With An Allowance Recorded Average Recorded Investment 55,445 389 687
With An Allowance Recorded Interest Income Recognized 1,895   43
Total, Recorded Investment 85,397 868 1,121
Total, Unpaid Principal Balance 85,094 917 1,121
Total, Related Allowance 6,725 111 300
Total Impaired Average Recorded Investment 56,131 883 1,181
Total Impaired Interest Income Recognized 1,895   68
Commercial Real Estate Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment 15,517 5,890 10,482
No related allowance recorded, Unpaid Principal Balance 16,512 6,587 10,783
No Related Allowance Average Recorded Investment 6,363 6,276 10,658
No Related Allowance Interest Income Recognized 60 129 496
With an allowance recorded, Recorded Investment   3,520 4,344
With an allowance recorded, Unpaid Principal Balance   3,520 4,344
With an allowance recorded, Related Allowance   150 115
With An Allowance Recorded Average Recorded Investment   3,584 4,359
With An Allowance Recorded Interest Income Recognized   171 200
Total, Recorded Investment 15,517 9,410 14,826
Total, Unpaid Principal Balance 16,512 10,107 15,127
Total, Related Allowance   150 115
Total Impaired Average Recorded Investment 6,363 9,860 15,017
Total Impaired Interest Income Recognized 60 300 696
Construction Loans [Member]      
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment 2,149    
No related allowance recorded, Unpaid Principal Balance 2,141    
No Related Allowance Average Recorded Investment 1,535    
Total, Recorded Investment 2,149    
Total, Unpaid Principal Balance 2,141    
Total Impaired Average Recorded Investment 1,535    
Residential Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment 3,954 3,072 1,858
No related allowance recorded, Unpaid Principal Balance 4,329 3,406 2,000
No Related Allowance Average Recorded Investment 3,322 3,170 1,892
No Related Allowance Interest Income Recognized 10 41 94
Total, Recorded Investment 3,954 3,072 1,858
Total, Unpaid Principal Balance 4,329 3,406 2,000
Total Impaired Average Recorded Investment 3,322 3,170 1,892
Total Impaired Interest Income Recognized 10 41 94
Consumer Portfolio Segment [Member]      
Financing Receivable, Impaired [Line Items]      
No related allowance recorded, Recorded Investment 87 109 120
No related allowance recorded, Unpaid Principal Balance 86 101 120
No Related Allowance Average Recorded Investment 96 107 128
No Related Allowance Interest Income Recognized 5   6
Total, Recorded Investment 87 109 120
Total, Unpaid Principal Balance 86 101 120
Total Impaired Average Recorded Investment 96 $ 106 128
Total Impaired Interest Income Recognized $ 5   $ 6
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Aging analysis - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due $ 33,418 $ 23,520
Current 3,068,376 2,516,011
Loans 3,101,794 2,539,531
Loans Receivable > 90 Days Past Due and Accruing   1,211
30 - 59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 8,889 12,848
60 - 89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 4,502 849
90 Days or Greater Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 20,027 9,823
Commercial Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 17,257 6,722
Current 552,859 493,094
Loans 570,116 499,816
Loans Receivable > 90 Days Past Due and Accruing   45
Commercial Portfolio Segment [Member] | 30 - 59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 6,887 6,060
Commercial Portfolio Segment [Member] | 60 - 89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 3,505  
Commercial Portfolio Segment [Member] | 90 Days or Greater Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 6,865 662
Commercial Real Estate Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 12,547 11,536
Current 1,954,149 1,622,974
Loans 1,966,696 1,634,510
Loans Receivable > 90 Days Past Due and Accruing   609
Commercial Real Estate Portfolio Segment [Member] | 30 - 59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 1,998 4,937
Commercial Real Estate Portfolio Segment [Member] | 60 - 89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 988 638
Commercial Real Estate Portfolio Segment [Member] | 90 Days or Greater Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 9,561 5,961
Construction Loans [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 1,479  
Current 327,359 167,359
Loans 328,838 167,359
Construction Loans [Member] | 90 Days or Greater Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 1,479  
Residential Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 2,122 5,231
Current 231,568 229,736
Loans 233,690 234,967
Loans Receivable > 90 Days Past Due and Accruing   557
Residential Portfolio Segment [Member] | 30 - 59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due   1,821
Residential Portfolio Segment [Member] | 60 - 89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due   210
Residential Portfolio Segment [Member] | 90 Days or Greater Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 2,122 3,200
Consumer Portfolio Segment [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 13 31
Current 2,441 2,848
Loans 2,454 2,879
Consumer Portfolio Segment [Member] | 30 - 59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due 4 30
Consumer Portfolio Segment [Member] | 60 - 89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Past Due $ 9 $ 1
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Allowance for loan and lease losses - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Allowance for loan and lease losses        
Allowance for loan and lease losses, individually evaluated for impairment $ 6,725 $ 262    
Allowance for loan and lease losses, collectively evaluated for impairment 19,847 13,898    
Allowance for loan and lease losses, total 26,572 14,160 $ 10,333 $ 10,237
Gross loans        
Loans Receivable, individually evaluated for impairment 107,104 13,459    
Loans Receivable, collectively evaluated for impairment 2,985,509 2,516,251    
Loans Receivables, acquired with deteriorated credit quality 9,181 9,821    
Loans Receivable, Total 3,101,794 2,539,531    
Commercial Portfolio Segment [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, individually evaluated for impairment 6,725 111    
Allowance for loan and lease losses, collectively evaluated for impairment 4,224 2,972    
Allowance for loan and lease losses, total 10,949 3,083 1,698 2,424
Gross loans        
Loans Receivable, individually evaluated for impairment 85,397 868    
Loans Receivable, collectively evaluated for impairment 477,641 491,749    
Loans Receivables, acquired with deteriorated credit quality 7,078 7,199    
Loans Receivable, Total 570,116 499,816    
Commercial Real Estate Portfolio Segment [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, individually evaluated for impairment   151    
Allowance for loan and lease losses, collectively evaluated for impairment 10,925 7,648    
Allowance for loan and lease losses, total 10,925 7,799 5,746 5,323
Gross loans        
Loans Receivable, individually evaluated for impairment 15,517 9,410    
Loans Receivable, collectively evaluated for impairment 1,949,404 1,623,284    
Loans Receivables, acquired with deteriorated credit quality 1,775 1,816    
Loans Receivable, Total 1,966,696 1,634,510    
Construction Loans [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, collectively evaluated for impairment 3,253 1,239    
Allowance for loan and lease losses, total 3,253 1,239 362 313
Gross loans        
Loans Receivable, individually evaluated for impairment 2,149      
Loans Receivable, collectively evaluated for impairment $ 326,689 167,359    
Loans Receivables, acquired with deteriorated credit quality      
Loans Receivable, Total $ 328,838 167,359    
Residential Portfolio Segment [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, collectively evaluated for impairment 976 1,113    
Allowance for loan and lease losses, total 976 1,113 990 1,532
Gross loans        
Loans Receivable, individually evaluated for impairment 3,954 3,072    
Loans Receivable, collectively evaluated for impairment 229,410 231,089    
Loans Receivables, acquired with deteriorated credit quality 328 806    
Loans Receivable, Total 233,690 234,967    
Consumer Portfolio Segment [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, collectively evaluated for impairment 4 7    
Allowance for loan and lease losses, total 4 7 146 113
Gross loans        
Loans Receivable, individually evaluated for impairment 87 109    
Loans Receivable, collectively evaluated for impairment 2,367 2,770    
Loans Receivable, Total 2,454 2,879    
Unallocated Financing Receivables [Member]        
Allowance for loan and lease losses        
Allowance for loan and lease losses, collectively evaluated for impairment 464 919    
Allowance for loan and lease losses, total $ 464 $ 919 $ 1,391 $ 532
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Schedule of allowance for loan losses - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 $ 14,160 $ 10,333 $ 10,237
Loans charged-off                 (538) (936) (329)
Recoveries                 345 80 75
Provision for loan and lease losses $ 5,055 $ 4,175 $ 1,550 $ 1,825 $ 2,474 $ 1,300 $ 284 $ 625 12,605 4,683 350
Balance 26,572       14,160       26,572 14,160 10,333
Commercial Portfolio Segment [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 3,083 1,698 2,424
Loans charged-off                 (101) (379) (6)
Recoveries                 13 50 41
Provision for loan and lease losses                 7,954 1,714 (761)
Balance 10,949       3,083       10,949 3,083 1,698
Commercial Real Estate Portfolio Segment [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 7,799 5,746 5,323
Loans charged-off                 (406) $ (398) (126)
Recoveries                 327 28
Provision for loan and lease losses                 3,206 $ 2,451 521
Balance 10,925       7,799       10,925 7,799 5,746
Construction Loans [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 $ 1,239 $ 362 $ 313
Loans charged-off                
Recoveries                
Provision for loan and lease losses                 $ 2,014 $ 877 $ 49
Balance 3,253       1,239       3,253 1,239 362
Residential Portfolio Segment [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 $ 1,113 990 1,532
Loans charged-off                 (159) $ (175)
Recoveries                 $ 2 19
Provision for loan and lease losses                 (139) 263 $ (367)
Balance 976       1,113       976 1,113 990
Consumer Portfolio Segment [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 7 $ 146 113
Loans charged-off                 (31) (22)
Recoveries                 3 $ 11 6
Provision for loan and lease losses                 25 (150) 49
Balance 4       7       4 7 146
Unallocated Financing Receivables [Member]                      
Financing Receivable, Allowance for Credit Losses [Line Items]                      
Balance                 $ 919 $ 1,391 $ 532
Loans charged-off                
Recoveries                
Provision for loan and lease losses                 $ (455) $ (472) $ 859
Balance $ 464       $ 919       $ 464 $ 919 $ 1,391
v3.3.1.900
Loans and the Allowance for Loan and Lease Losses (Details) - Schedule of Troubled Debt Restructuring by Class
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Integer
Dec. 31, 2014
USD ($)
Integer
Troubled debt restructurings:    
Number of Loans | Integer 54 3
Pre-Modification Outstanding Recorded Investment $ 84,290 $ 947
Post-Modification Outstanding Recorded Investment $ 84,290 $ 561
Commercial Portfolio Segment [Member]    
Troubled debt restructurings:    
Number of Loans 48 1
Pre-Modification Outstanding Recorded Investment $ 78,466 $ 672
Post-Modification Outstanding Recorded Investment $ 78,466 $ 289
Commercial Real Estate Portfolio Segment [Member]    
Troubled debt restructurings:    
Number of Loans | Integer 3  
Pre-Modification Outstanding Recorded Investment $ 5,049  
Post-Modification Outstanding Recorded Investment $ 5,049  
Construction Loans [Member]    
Troubled debt restructurings:    
Number of Loans | Integer 1  
Pre-Modification Outstanding Recorded Investment $ 661  
Post-Modification Outstanding Recorded Investment $ 661  
Residential Portfolio Segment [Member]    
Troubled debt restructurings:    
Number of Loans 1 2
Pre-Modification Outstanding Recorded Investment $ 110 $ 275
Post-Modification Outstanding Recorded Investment $ 110 $ 272
Consumer Portfolio Segment [Member]    
Troubled debt restructurings:    
Number of Loans | Integer 1  
Pre-Modification Outstanding Recorded Investment $ 4  
Post-Modification Outstanding Recorded Investment $ 4  
v3.3.1.900
Premises and Equipment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Property, Plant and Equipment [Abstract]      
Depreciation and amortization expense $ 2,300 $ 1,500 $ 900
Operating Leases, Rent Expense, Net $ 2,136 $ 1,557 $ 1,094
v3.3.1.900
Premises and Equipment (Details) - Schedule of Premises and Equipment - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 58,358 $ 54,459
Less: accumulated depreciation and amortization 35,291 32,977
Subtotal 23,067 21,482
Less: fair value adjustment for acquired leases (734) (829)
Total premises and equipment, net 22,333 20,653
Buildings [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 16,490 16,490
Buildings [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 20 years  
Buildings [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 40 years  
Furniture Fixtures And Equipment [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 3 years  
Furniture Fixtures And Equipment [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 10 years  
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 12,230 10,757
Leasehold Improvements [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 10 years  
Leasehold Improvements [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life (Years) 20 years  
Land [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 2,403 2,403
Furniture, fixtures and equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 27,235 $ 24,809
v3.3.1.900
Premises and Equipment (Details) - Schedule of Capital Lease in Premises and Equipment - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Schedule of Capital Lease in Premises and Equipment [Abstract]    
Capital Lease $ 3,422 $ 3,422
Less: accumulated amortization 1,198 1,026
Lease in premises and equipment $ 2,224 $ 2,396
v3.3.1.900
Premises and Equipment (Details) - Schedule of Future Minimum Lease Payments for Capitalization leases
$ in Thousands
Dec. 31, 2015
USD ($)
Schedule of Future Minimum Lease Payments for Capitalization leases [Abstract]  
2016 $ 292
2017 292
2018 292
2019 321
2020 321
Thereafter 2,699
Total minimum lease payments 4,217
Less amount representing interest 1,332
Present value of net minimum lease payments $ 2,885
v3.3.1.900
Premises and Equipment (Details) - Schedule of Operating Leases Included Renewal Provisions
$ in Thousands
Dec. 31, 2015
USD ($)
Schedule of Operating Leases Included Renewal Provisions [Abstract]  
2016 $ 1,915
2017 1,548
2018 1,481
2019 1,350
2020 1,284
Thereafter $ 5,463
v3.3.1.900
Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization of Intangible Assets $ 917 $ 507 $ 30
v3.3.1.900
Goodwill and Other Intangible Assets (Details) - Schedule of change in goodwill - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Schedule of change in goodwill [Abstract]    
Beginning of year $ 145,909 $ 16,804
Acquired goodwill 129,105
End of year $ 145,909 $ 145,909
v3.3.1.900
Goodwill and Other Intangible Assets (Details) - Intangible Assets Disclosure - Core Deposits [Member] - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - Intangible Assets Disclosure [Line Items]    
Gross Carrying Amount $ 6,011 $ 6,011
Accumulated Amortization (2,103) (1,186)
Net Carrying Amount $ 3,908 $ 4,825
v3.3.1.900
Goodwill and Other Intangible Assets (Details) - Estimated amortization expense
$ in Thousands
Dec. 31, 2015
USD ($)
Estimated amortization expense [Abstract]  
2016 $ 820
2017 724
2018 627
2019 531
2020 $ 434
v3.3.1.900
Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Disclosure Text Block [Abstract]    
Time Deposits Maturities, after Next Twelve Months $ 774,700 $ 669,400
Time Deposits 250000 or More $ 142,800 $ 108,000
v3.3.1.900
Deposits (Details) - Schedule of Time Deposits
$ in Thousands
Dec. 31, 2015
USD ($)
Schedule of Time Deposits [Abstract]  
2016 $ 344,224
2017 173,629
2018 163,046
2019 86,562
2020 7,256
Total $ 774,717
v3.3.1.900
Borrowed Funds (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Number of Federal Home Loan Bank Notes 3
Debt Instrument, Maturity Date Jul. 01, 2025
Long-term Line of Credit $ 120,000
Line of Credit Facility, Remaining Borrowing Capacity 536,000
Federal Home Loan Bank Note One [Member]  
Extinguishment of Debt, Amount $ 2,500
Debt Instrument, Maturity Date Apr. 02, 2018
Federal Home Loan Bank Note Two [Member]  
Extinguishment of Debt, Amount $ 7,500
Debt Instrument, Maturity Date Apr. 02, 2018
Federal Home Loan Bank Note Three [Member]  
Extinguishment of Debt, Amount $ 5,000
Debt Instrument, Maturity Date Jul. 16, 2018
v3.3.1.900
Borrowed Funds (Details) - Schedule of components of FHLB and other borrowings and weighted average interest rates - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
By type of borrowing:    
FHLB and other borrowings (in Dollars) $ 671,587 $ 495,553
Weighted average interest rates 1.37% 1.48%
By remaining period to maturity:    
One year or less (in Dollars) $ 270,587 $ 258,553
One year or less 0.64% 0.50%
One to two years (in Dollars) $ 171,000 $ 30,000
One to two years 1.56% 1.40%
Two to three years (in Dollars) $ 130,000 $ 71,000
Two to three years 1.84% 2.33%
Three to four years (in Dollars) $ 35,000 $ 96,000
Three to four years 1.60% 2.67%
Four to five years (in Dollars) $ 65,000  
Four to five years 2.82%  
Greater than five years (in Dollars)   $ 40,000
Greater than five years   3.42%
Federal Home Loan Bank Advances [Member]    
By type of borrowing:    
FHLB and other borrowings (in Dollars) $ 656,587 $ 464,553
Weighted average interest rates 1.26% 1.18%
Repurchase Agreements [Member]    
By type of borrowing:    
FHLB and other borrowings (in Dollars) $ 15,000 $ 31,000
Weighted average interest rates 5.95% 5.90%
v3.3.1.900
Securities Sold under Agreements to Repurchase (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Securities Sold under Agreements to Repurchase [Abstract]    
Pledge securities 8.00%  
Securities carrying amount $ 18,800 $ 40,000
v3.3.1.900
Securities Sold under Agreements to Repurchase (Details) - Schedule of repurchase agreements - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Securities Sold under Agreements to Repurchase [Abstract]      
Average daily balance during the year $ 22,890 $ 31,000 $ 31,000
Average interest rate during the year 5.92% 5.90% 5.90%
Maximum month-end balance during the year $ 31,000 $ 31,000 $ 31,000
Weighted average interest rate during the year 5.92% 5.90% 5.90%
v3.3.1.900
Securities Sold under Agreements to Repurchase (Details) - Schedule of remaining contractual maturity
$ in Thousands
Dec. 31, 2015
USD ($)
Total Borrowings $ 18,902
Amounts related to agreements not included in offsetting disclosure in Note 13 3,902
US Treasury Securities [Member]  
Total Borrowings 6,313
Residential Mortgage Backed Securities [Member]  
Total Borrowings $ 12,589
Overnight and Continuous [Member]  
Total Borrowings
Overnight and Continuous [Member] | US Treasury Securities [Member]  
Total Borrowings
Overnight and Continuous [Member] | Residential Mortgage Backed Securities [Member]  
Total Borrowings
Upto 30 Days [Member]  
Total Borrowings
Upto 30 Days [Member] | US Treasury Securities [Member]  
Total Borrowings
Upto 30 Days [Member] | Residential Mortgage Backed Securities [Member]  
Total Borrowings
30 - 90 Days [Member]  
Total Borrowings
30 - 90 Days [Member] | US Treasury Securities [Member]  
Total Borrowings
30 - 90 Days [Member] | Residential Mortgage Backed Securities [Member]  
Total Borrowings
Greater Than 90 Days[Member]  
Total Borrowings $ 18,902
Greater Than 90 Days[Member] | US Treasury Securities [Member]  
Total Borrowings 6,313
Greater Than 90 Days[Member] | Residential Mortgage Backed Securities [Member]  
Total Borrowings $ 12,589
v3.3.1.900
Subordinated Debentures (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Subordinated Debentures (Details) [Line Items]  
Value of subordinated debentures received by Trust $ 5,200
Percentage Rate Added to Libor 2.85%
Floating interest rate on subordinated debentures 3.17%
Proceeds from Issuance of Debt $ 50,000
Debt Instrument, Term 5 years
Debt Instrument, Maturity Date Jul. 01, 2025
Debt Instrument, Interest Rate, Stated Percentage 5.75%
Debt Instrument, Description of Variable Rate Basis three-month LIBOR rate plus 393 basis points
Debt Instrument, Basis Spread on Variable Rate 3.93%
Debt Issuance Cost $ 812
Proceeds from Stock Plans 35,000
Noncumulative Preferred Stock [Member]  
Subordinated Debentures (Details) [Line Items]  
Preferred Stock, Value, Outstanding $ 11,300
v3.3.1.900
Subordinated Debentures (Details) - Schedule of Subordinated Borrowing - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Schedule of Subordinated Borrowing [Abstract]    
Issuance Date Dec. 19, 2003 Dec. 19, 2003
Securities Issued $ 5,000 $ 5,000
Liquidation Value $1,000 per Capital Security $1,000 per Capital Security
Coupon Rate Floating 3-month LIBOR + 285 Basis Points Floating 3-month LIBOR + 285 Basis Points
Maturity Jan. 23, 2034 Jan. 23, 2034
Redeemable by Issuer Beginning Jan. 23, 2009 Jan. 23, 2009
v3.3.1.900
Income Taxes (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Current:      
Federal $ 22,512 $ 7,715 $ 5,658
State 907 946 87
Subtotal 23,419 8,661 5,745
Deferred:      
Federal (3,835) 223 1,906
State 342 (39) (167)
Subtotal (3,493) 184 1,739
Income tax expense $ 19,926 $ 8,845 $ 7,484
v3.3.1.900
Income Taxes (Details) - Schedule of Effective Income Tax Rate Reconciliation - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Effective Income Tax Rate Reconciliation [Abstract]                      
Income before income tax expense $ 14,185 $ 16,070 $ 15,590 $ 15,391 $ 13,018 $ 2,019 $ 6,364 $ 6,010 $ 61,237 $ 27,410 $ 27,409
Federal statutory rate                 35.00% 35.00% 35.00%
Computed "expected" Federal income tax expense                 $ 21,433 $ 9,593 $ 9,593
State tax, net of Federal tax benefit                 812 589 (53)
Bank owned life insurance                 (624) (456) (477)
Tax-exempt interest and dividends                 (1,584) (1,511) (1,645)
Other, net                 (111) 630 66
Income tax                 $ 19,926 $ 8,845 $ 7,484
v3.3.1.900
Income Taxes (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets:    
Nonaccrual interest $ 349 $ 171
Allowance for loan and lease losses 10,798 5,681
Pension actuarial losses 2,605 2,980
Purchase accounting 7,195 9,221
Deferred compensation 1,479 $ 1,066
Unrealized losses on securities and swaps 422
Deferred loan costs, net of fees 460
Accrued rent 530 $ 476
Other $ 25 34
New Jersey net operating loss 902
Capital lease $ 427 389
Total deferred tax assets 24,290 20,920
Deferred tax liabilities:    
Employee benefit plans 1,370 1,199
Depreciation 1,001 886
Market discount accretion $ 41 91
Deferred loan costs, net of fees 317
Prepaid expenses $ 341 393
Unrealized gains on securities and swaps 2,403
Other $ 27 64
Total deferred tax liabilities 2,780 5,353
Net deferred tax asset $ 21,510 $ 15,567
v3.3.1.900
Offsetting Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Gross Amounts Recognized, Total $ 15,131 $ 31,000
Gross Amounts Offset in the Statement of Financial Position, Total
Net Amounts of Assets Presented in the Statement of Financial Position, Total $ 15,131 $ 31,000
Financial Instruments Recognized, Total
Cash or Financial Instrument Collateral, Total $ 15,131 $ 31,000
Net Amount, Total
Repurchase Agreements [Member]    
Gross Amounts Recognized, Liabilities $ 15,000  
Gross Amounts Offset in the Statement of Financial Position, Liabilities  
Net Amounts of Assets Presented in the Statement of Financial Position, Liabilities $ 15,000  
Financial Instruments Recognized, Liabilities  
Cash or Financial Instrument Collateral, Liabilities $ 15,000  
Net Amount, Liabilities  
Gross Amounts Recognized, Total   $ 31,000
Gross Amounts Offset in the Statement of Financial Position, Total  
Net Amounts of Assets Presented in the Statement of Financial Position, Total   $ 31,000
Financial Instruments Recognized, Total  
Cash or Financial Instrument Collateral, Total   $ 31,000
Net Amount, Total  
Interest Rate Swap [Member]    
Gross Amounts Recognized, Assets $ 48
Gross Amounts Offset in the Statement of Financial Position
Net Amounts of Assets Presented in the Statement of Financial Position, Assets $ 48
Financial Instruments Recognized, Assets
Cash or Financial Instrument Collateral, Assets
Net Amount, Assets $ 48
Gross Amounts Recognized, Liabilities $ 131
Gross Amounts Offset in the Statement of Financial Position, Liabilities
Net Amounts of Assets Presented in the Statement of Financial Position, Liabilities $ 131
Financial Instruments Recognized, Liabilities
Cash or Financial Instrument Collateral, Liabilities $ 131
Net Amount, Liabilities
v3.3.1.900
Commitments, Contingencies and Concentrations of Credit Risk (Details) - Summary of Financial Instruments - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Supply Commitment [Line Items]    
Off-balance sheet commitements $ 625,609 $ 489,821
Overdraft Protection Lines [Member]    
Supply Commitment [Line Items]    
Off-balance sheet commitements 770 800
Standby Letters of Credit [Member]    
Supply Commitment [Line Items]    
Off-balance sheet commitements 20,895 27,500
Commercial Portfolio Segment [Member] | Supply Commitment [Member]    
Supply Commitment [Line Items]    
Off-balance sheet commitements 278,201 236,447
Home Equity Line of Credit [Member]    
Supply Commitment [Line Items]    
Off-balance sheet commitements 52,191 56,031
Commercial Real Estate Portfolio Segment [Member] | Supply Commitment [Member]    
Supply Commitment [Line Items]    
Off-balance sheet commitements $ 273,552 $ 169,043
v3.3.1.900
Transactions with Executive Officers, Directors and Principal Stockholders (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Leases [Abstract]    
Proceeds from Other Deposits $ 29,586 $ 19,400
v3.3.1.900
Transactions with Executive Officers, Directors and Principal Stockholders (Details) - Loans - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Loans to principal officers, directors, and their affiliates [Abstract]    
Beginning balance $ 44,353 $ 20,365
New loans 150
Loans assumed in Merger 31,325
Repayments $ (5,121) (7,487)
Ending balance $ 39,232 $ 44,353
v3.3.1.900
Stockholders' Equity and Regulatory Requirements (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Sep. 15, 2011
Dec. 31, 2015
Dec. 31, 2014
STOCKHOLDERS' EQUITY AND REGULATORY REQUIREMENTS (Details) [Line Items]      
Nonvoting senior preferred stock issued, value (in Dollars) $ 11,250    
Tier One Leverage Capital (in Dollars) $ 125    
Preferred Stock, Dividend Rate, Percentage 1.00%    
Preferred Stock Increase Dividend Rate Percentage 9.00%    
Payments for Repurchase of Trust Preferred Securities (in Dollars) $ 11,250    
Proceeds from Issuance of Trust Preferred Securities (in Dollars)   $ 5,000 $ 5,000
Series B [Member]      
STOCKHOLDERS' EQUITY AND REGULATORY REQUIREMENTS (Details) [Line Items]      
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares) 11,250    
Preferred Stock, Redemption Price Per Share (in Dollars per share) $ 1,000    
Series A [Member]      
STOCKHOLDERS' EQUITY AND REGULATORY REQUIREMENTS (Details) [Line Items]      
Preferred Stock, Redemption Price Per Share (in Dollars per share) $ 1,000    
Fixed Rate Cumulative Perpetual Preferred Stock Redemption Shares (in Shares) 10,000    
Preferred Stock, Redemption Amount (in Dollars) $ 10,041,667    
v3.3.1.900
Stockholders' Equity and Regulatory Requirements (Details) - Schedule of Compliance with Regulatory Capital Requirements - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Sep. 15, 2011
Tier One Leverage Capital     $ 125
Union Center National Bank [Member]      
Tier One Leverage Capital $ 372,979 $ 300,399  
Tier One Leverage Capital to Average Assets 9.96% 9.33%  
Tier One Leverage Capital Required for Capital Adequacy $ 149,724 $ 128,729  
Tier One Leverage Capital Required for Capital Adequacy to Average Assets 4.00% 4.00%  
Tier One Leverage Capital Required to be Well Capitalized $ 187,154 $ 160,911  
Tier One Leverage Capital Required to be Well Capitalized to Average Assets 5.00% 5.00%  
CET One Risk Based Capital $ 372,979    
CET One Risk Based Capital to Risk Weighted Assets 10.55%    
CET One Risk Based Capital Required for Capital Adequacy $ 159,028    
CET One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets 4.50%    
CET One Risk Based Capital Required to be Well Capitalized $ 229,707    
CET One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets 6.50%    
Tier One Risk Based Capital $ 372,979 $ 300,399  
Tier One Risk Based Capital to Risk Weighted Assets 10.55% 10.40%  
Tier One Risk Based Capital Required for Capital Adequacy $ 212,037 $ 115,493  
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets 6.00% 4.00%  
Tier One Risk Based Capital Required to be Well Capitalized $ 282,716 $ 173,239  
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets 8.00% 6.00%  
Capital $ 399,551 $ 314,769  
Capital to Risk Weighted Assets 11.31% 10.90%  
Capital Required for Capital Adequacy $ 282,716 $ 230,986  
Capital Required for Capital Adequacy to Risk Weighted Assets 8.00% 8.00%  
Capital Required to be Well Capitalized $ 353,395 $ 288,732  
Capital Required to be Well Capitalized to Risk Weighted Assets 10.00% 10.00%  
Parent Company [Member]      
Tier One Leverage Capital $ 339,544 $ 301,593  
Tier One Leverage Capital to Average Assets 9.07% 9.37%  
Tier One Leverage Capital Required for Capital Adequacy $ 149,776 $ 128,747  
Tier One Leverage Capital Required for Capital Adequacy to Average Assets 4.00% 4.00%  
Tier One Leverage Capital Required to be Well Capitalized    
Tier One Leverage Capital Required to be Well Capitalized to Average Assets    
CET One Risk Based Capital $ 323,139    
CET One Risk Based Capital to Risk Weighted Assets 9.14%    
CET One Risk Based Capital Required for Capital Adequacy $ 159,078    
CET One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets 4.50%    
Tier One Risk Based Capital $ 339,544 $ 301,593  
Tier One Risk Based Capital to Risk Weighted Assets 9.61% 10.44%  
Tier One Risk Based Capital Required for Capital Adequacy $ 212,104 $ 115,561  
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets 6.00% 4.00%  
Tier One Risk Based Capital Required to be Well Capitalized    
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets    
Capital $ 416,116 $ 315,963  
Capital to Risk Weighted Assets 11.77% 10.94%  
Capital Required for Capital Adequacy $ 282,805 $ 231,121  
Capital Required for Capital Adequacy to Risk Weighted Assets 8.00% 8.00%  
Capital Required to be Well Capitalized    
Capital Required to be Well Capitalized to Risk Weighted Assets    
v3.3.1.900
Comprehensive Income (Details) - Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
COMPREHENSIVE INCOME (Details) - Comprehensive Income (Loss) [Line Items]      
OTTI losses Tax benefit (expense) $ 178
Sale of investment securities available-for-sale Net investment securities gains $ (2,991) $ 6,966 (8,741)
Sale of investment securities available-for-sale Tax benefit (expense) (1,196) 2,635 (3,578)
Total reclassification Net of tax $ (3,595) 1,530 (7,607)
Reclassification out of Accumulated Other Comprehensive Income [Member]      
COMPREHENSIVE INCOME (Details) - Comprehensive Income (Loss) [Line Items]      
OTTI losses Net investment securities gains   652
OTTI losses Tax benefit (expense)   178
OTTI losses Net of tax   (474)
Sale of investment securities available-for-sale Net investment securities gains $ 3,931 2,818 2,363
Sale of investment securities available-for-sale Tax benefit (expense) (1,564) (986) (645)
Sale of investment securities available-for-sale Net of tax 2,367 1,832 1,718
Amortization of unrealized holding (losses) gains on securities transferred from available-for-sale to held-to-maturity Interest income (220) (215) 58
Amortization of unrealized holding (losses) gains on securities transferred from available-for-sale to held-to-maturity Tax benefit (expense) 90 91 (19)
Amortization of unrealized holding (losses) gains on securities transferred from available-for-sale to held-to-maturity Net of tax (130) (124) 39
Amortization of net pension actuarial losses (443) 204 (654)
Pension plan actuarial losses Tax benefit (expense) 177 (83) 267
Pension plan actuarial losses Net of tax (256) 121 (387)
Total reclassification Net of tax $ 1,981 $ 1,587 $ 896
v3.3.1.900
Comprehensive Income (Details) - Schedule of Accumulated Other Comprehensive Income (Loss) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Schedule of Accumulated Other Comprehensive Income (Loss) [Abstract]    
Investment securities available for sale, net of tax $ 713 $ 4,874
Cash flow hedge, net of tax (77) 28
Unamortized component of securities transferred from available-for-sale to held-to-maturity, net of tax (1,173) (1,301)
Defined benefit pension and post-retirement plans, net of tax (4,072) (4,615)
Total accumulated other comprehensive loss $ (4,609) $ (1,014)
v3.3.1.900
Pension and Other Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
PENSION AND OTHER BENEFITS (Details) [Line Items]        
General Discussion of Pension and Other Postretirement Benefits  

The Company maintains a frozen noncontributory pension plan covering employees of the Company prior to the Merger. The benefits are based on years of service and the employee’s compensation over the prior five-year period. The plan’s benefits are payable in the form of a ten year certain and life annuity. The plan is intended to be a tax-qualified defined benefit plan under Section 401(a) of the Internal Revenue Code. Payments may be made under the Pension Plan once attaining the normal retirement age of 65 and are generally equal to 44% of a participant’s highest average compensation over a 5-year period.

    
Defined Benefit Plan, Effect of Settlements and Curtailments on Accumulated Benefit Obligation   $ 13,100 $ 15,100  
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax   295    
Defined Benefit Plan, Contributions by Employer   338 $ 291 $ 265
Defined Benefit Plan Minimum Contributions By Employer   400    
Defined Benefit Plan, Contributions by Plan Participants   $ 3,700    
Defined Benefit Plan, Description of Plan Amendment  

Beginning with the 2013 Plan Year, the Plan was amended to provide for a 3% nonelective safe harbor contribution for all participants.

    
Maximum [Member]        
PENSION AND OTHER BENEFITS (Details) [Line Items]        
Defined Benefit Plan, Funded Percentage   115.00%    
Minimum [Member]        
PENSION AND OTHER BENEFITS (Details) [Line Items]        
Defined Benefit Plan, Funded Percentage   85.00%    
Pension Trust Subsequent Event [Member]        
PENSION AND OTHER BENEFITS (Details) [Line Items]        
Defined Benefit Plan, Contributions by Employer $ 2,000      
v3.3.1.900
Pension and Other Benefits (Details) - Schedule of Changes in Projected Benefit Obligations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Change in Benefit Obligation:      
Projected benefit obligation at beginning of year $ 15,074 $ 13,569  
Interest cost 519 576 $ 529
Actuarial (gain) loss (466) 2,023  
Benefits paid (717) (701)  
Settlements (1,342) (393)  
Projected benefit obligation at end of year 13,068 15,074 13,569
Change in Plan Assets:      
Fair value of plan assets at beginning year 10,414 11,026  
Actual return on plan assets (296) $ 413  
Employer contributions 2,000  
Benefits paid (717) $ (701)  
Settlements (1,114) (324)  
Fair value of plan assets at end of year 10,287 10,414 $ 11,026
Funded status $ (2,781) $ (4,660)  
v3.3.1.900
Pension and Other Benefits (Details) - Component of Accumulated Other Comprehensive Loss have not been Recognized - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Component of Accumulated Other Comprehensive Loss have not been Recognized as a Component of Net Periodic Pension Expense [Abstract]    
Net actuarial loss recognized in accumulated other comprehensive income $ 6,677 $ 7,595
v3.3.1.900
Pension and Other Benefits (Details) - Schedule of Net Periodic Pension Expense - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Net Periodic Pension Expense [Abstract]      
Interest cost $ 519 $ 576 $ 529
Expected return on plan assets (562) (596) (488)
Net amortization 433 223 $ 375
Recognized settlement loss 650 1
Total net periodic pension expense 1,040 204 $ 416
Total (gain) loss recognized in other comprehensive income (918) 1,896 (654)
Total recognized in net periodic expense and other comprehensive income (before tax) $ 122 $ 2,100 $ (238)
v3.3.1.900
Pension and Other Benefits (Details) - Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Abstract]      
Discount rate 4.06% 3.76% 4.84%
Rate of compensation increase
Expected long-term rate of return on plan assets 5.50% 5.50% 5.50%
Discount rate 3.76% 4.84% 4.03%
Expected long-term return on plan assets 5.50% 5.50% 5.50%
Rate of compensation increase
v3.3.1.900
Pension and Other Benefits (Details) - Schedule of Allocation of Plan Assets
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Equity Securities      
Target Allocation 100.00%    
% of Plan Assets 100.00% 100.00%  
Weighted Average Expected Long-Term Rate of Return 5.50% 5.50% 5.50%
Domestic Equity Securities [Member]      
Equity Securities      
Target Allocation 48.00%    
% of Plan Assets 47.00% 42.00%  
Weighted Average Expected Long-Term Rate of Return 2.90%    
International Equity Securities [Member]      
Equity Securities      
Target Allocation 13.00%    
% of Plan Assets 15.00% 13.00%  
Weighted Average Expected Long-Term Rate of Return 0.80%    
Debt And Fixed Income Securities [Member]      
Equity Securities      
Target Allocation 29.00%    
% of Plan Assets 28.00% 36.00%  
Weighted Average Expected Long-Term Rate of Return 1.30%    
Mutual Funds [Member]      
Equity Securities      
Target Allocation 8.00%    
% of Plan Assets 8.00%    
Weighted Average Expected Long-Term Rate of Return 0.50%    
Cash And Other Alternative Investments [Member]      
Equity Securities      
Target Allocation 2.00%    
% of Plan Assets 2.00% 9.00%  
Weighted Average Expected Long-Term Rate of Return 0.00%    
v3.3.1.900
Pension and Other Benefits (Details) - Schedule of Changes in Fair Value of Plan Assets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets $ 10,287 $ 10,414
Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets $ 10,287 $ 10,414
Fair Value, Inputs, Level 2 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets
Fair Value, Inputs, Level 3 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets
Real Estate Fund [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets $ 73 $ 93
Real Estate Fund [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 73 93
Debt And Fixed Income Securities [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 2,904 3,754
Debt And Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 2,904 3,754
Cash [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 114 869
Cash [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 114 869
Us Companies [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 4,832 4,304
Us Companies [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 4,832 4,304
International Companies [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 1,584 1,394
International Companies [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 1,584 $ 1,394
Mutual Funds [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets 780  
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]    
PENSION AND OTHER BENEFITS (Details) - Schedule of Changes in Fair Value of Plan Assets [Line Items]    
Fair Value of Pension Plan Assets $ 780  
v3.3.1.900
Pension and Other Benefits (Details) - Estimated Future Benefit Payments
$ in Thousands
Dec. 31, 2015
USD ($)
Estimated Future Benefit Payments [Abstract]  
2016 $ 744
2017 744
2018 733
2019 744
2020 751
2021-2025 $ 3,765
v3.3.1.900
Stock Based Compensation (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Integer
$ / shares
shares
Dec. 31, 2014
USD ($)
$ / shares
shares
Dec. 31, 2013
USD ($)
shares
Share Based Compensation Arrangement by Share Based Payment Award Number of Plans | Integer 3    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 3 years    
Allocated Share-based Compensation Expense | $ $ 12 $ 58 $ 59
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares)     18,829
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares $ 4.73  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) 0 0 41,639
Unrecognized compensation cost related to nonvested shares | $ $ 1,329,345    
Weighted average period related to compesation cost 2 years 2 months 12 days    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ $ 225 $ 374  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number 535,906 882,657  
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number 94,585    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number 113,502    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost (in Dollars) | $ $ 409    
Restricted Stock [Member]      
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) 69,258 0 18,829
Unrecognized compensation cost related to nonvested shares | $ $ 976    
Weighted average period related to compesation cost 16 years 25 days    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost (in Dollars) | $ $ 746 $ 165 $ 24
Employee Director Stock Option Plan 2009 [Member]      
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) 202,219    
Non Employee Director Stock Option Plan 2003 [Member]      
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) 380,644    
Equity Compensation Plan 2009 [Member]      
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) 235,090    
v3.3.1.900
Stock Based Compensation (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions - $ / shares
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2015
STOCK BASED COMPENSATION (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]    
Weighted average fair value of grants (in Dollars per share)   $ 6.43
Minimum [Member]    
STOCK BASED COMPENSATION (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]    
Weighted average fair value of grants (in Dollars per share) $ 2.50  
Risk-free interest rate 1.86%  
Dividend yield 1.76%  
Expected volatility 23.21%  
Expected life in months 69 months  
Maximum [Member]    
STOCK BASED COMPENSATION (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]    
Weighted average fair value of grants (in Dollars per share) $ 2.87  
Risk-free interest rate 2.29%  
Dividend yield 2.11%  
Expected volatility 33.74%  
Expected life in months 90 months  
v3.3.1.900
Stock Based Compensation (Details) - Disclosure of Share-based Compensation Arrangements by Share-based Payment Award - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]      
Outstanding Beginning Balance, shares 882,657    
Granted 0 0 41,639
Exercised 340,492 100,911 2,268
Forfeited/cancelled/expired (6,259)    
Outstanding Ending Balance 535,906 882,657  
Exercisable Ending Balance 532,376    
Outstanding Beginning Balance, Weighted-Average Exercise Price $ 5.65    
Granted, Weighted-Average Exercise Price $ 4.73  
Exercised, Weighted-Average Exercise Price $ 4.19    
Forfeited/cancelled/expired, Weighted-Average Exercise Price 5.60    
Outstanding Ending Balance, Weighted-Average Exercise Price 6.48 $ 5.65  
Exercisable Ending Balance, Weighted-Average Exercise Price $ 6.43    
Outstanding Ending Balance - Weighted average remaining contractual term (years) 3 years 1 month 28 days    
Exercisable Ending Balance - Weighted average remaining contractual term (years) 3 years 1 month 17 days    
Outstanding Ending Balance - Aggregate intrinsic value $ 6,541,740    
Exercisable Ending Balance - Aggregate intrinsic value $ 6,526,031    
v3.3.1.900
Stock Based Compensation (Details) - Disclosure related to stock option plan - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]      
Intrinsic value of options exercised $ 5,218    
Cash received from options exercised 1,424 $ 885 $ 21
Tax benefit realized from options exercised $ 341 $ 282 $ 16
Weighted average fair value of options granted    
v3.3.1.900
Stock Based Compensation (Details) - Schedule of Share-based Payment Award, Nonvested Shares - $ / shares
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Granted 0 0 41,639
Nonvested [Member]      
Nonvested at December 31, 2014 50,303    
Granted 69,258    
Vested (19,061)    
Forfeited/cancelled/expired (3,598)    
Nonvested at December 31, 2015 96,902 50,303  
Nonvested at December 31, 2014 $ 11.79    
Granted 18.13    
Vested 11.53    
Forfeited/cancelled/expired 18.43    
Nonvested at December 31, 2015 $ 16.81 $ 11.79  
v3.3.1.900
Stock Based Compensation (Details) - Schedule of Share-based Payment Award, Unearned Shares - $ / shares
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2015
Outstanding Beginning Balance, shares 882,657      
Awarded 0 0 41,639  
Outstanding Ending Balance, shares 882,657 882,657   535,906
Unearned [Member]        
Outstanding Beginning Balance, shares      
Awarded 94,585      
Forfeited      
Expired      
Outstanding Ending Balance, shares   94,585
Outstanding Beginning Balance, Weighted-Average Grant Date Fair Value     $ 19.46
Awarded $ 19.46      
Forfeited      
Expired      
Outstanding Ending Balance, Weighted-Average Grant Date Fair Value     $ 19.46
v3.3.1.900
Dividends and Other Restrictions (Details)
$ in Thousands
Dec. 31, 2015
USD ($)
Disclosure of Restrictions on Dividends, Loans and Advances Disclosure [Abstract]  
Available for payment of dividends $ 116,800
v3.3.1.900
Derivatives (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Aug. 24, 2015
Dec. 30, 2014
Oct. 15, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]          
Notional Amount of Interest Rate Cash Flow Hedge Derivatives     $ 25,000 $ 25,000 $ 25,000
Interest expense on derivatives $ 7,635 $ 60      
v3.3.1.900
Derivatives (Details) - Summary of interest rate swap designated as a cash flow hedges - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Summary of interest rate swap designated as a cash flow hedges [Abstract]    
Notional amount $ 75,000 $ 50,000
Weighted average pay rates 1.56% 1.58%
Weighted average receive rates 0.44% 0.24%
Weighted average maturity 3 years 9 months 18 days 4 years 4 months 24 days
Fair value $ (131) $ 48
v3.3.1.900
Derivatives (Details) - Summary of net gains (losses) recorded in accumulated other comprehensive income - Interest Rate Contract [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Derivatives (Details) - Summary of net gains (losses) recorded in accumulated other comprehensive income and statements of income relating to cash flow derivative instruments [Line Items]    
Amount of loss recognized in OCI (Effective Portion) $ (179) $ 48
Amount of loss reclassified from OCI to interest income
Amount of loss recognized in other Non-interest income (Ineffective Portion)
v3.3.1.900
Derivatives (Details) - Summary of cash flow hedges included in the consolidated balance sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Included in other asset/(liabilities):    
Interest rate swap related to FHLB Advances, Fair Value   $ 48
Interest Rate Swap [Member]    
Included in other asset/(liabilities):    
Interest rate swap related to FHLB Advances, Notional Amount $ 75,000 50,000
Interest rate swap related to FHLB Advances, Fair Value $ (131) $ 48
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Fair Value Disclosures [Abstract]      
Impaired Financing Receivable, with Related Allowance, Recorded Investment $ 84,400 $ 3,907 $ 5,016
Impaired Financing Receivable, Related Allowance $ 6,725 $ 262  
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Schedule of Fair Value on a recurring basis - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value $ 195,770 $ 289,532
Derivatives   $ 48
Loans held for sale
Assets: Available-for-sale, Fair Value $ 195,770 $ 289,580
Liabilities    
Derivatives 131  
Total liabilities 131  
Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 177,246 276,333
Derivatives   48
Assets: Available-for-sale, Fair Value 177,246 276,381
Liabilities    
Derivatives 131  
Total liabilities 131  
Fair Value, Inputs, Level 1 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 18,524 13,199
Assets: Available-for-sale, Fair Value $ 18,524 $ 13,199
Liabilities    
Derivatives  
Total liabilities  
Fair Value, Inputs, Level 3 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value
Assets: Available-for-sale, Fair Value
Liabilities    
Derivatives  
Total liabilities  
Federal Agency Obligations [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value $ 29,146 $ 32,817
Federal Agency Obligations [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 29,146 32,817
Residential Mortgage Backed Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 44,910 60,356
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 44,910 60,356
Commercial Mortgage Backed Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 2,972 3,046
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 2,972 3,046
US States and Political Subdivisions Debt Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 8,357 8,406
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 8,357 8,406
Trust Preferred Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 16,255 16,306
Trust Preferred Securities [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 16,255 16,306
Corporate Bonds And Notes [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 53,976 125,777
Corporate Bonds And Notes [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 53,976 125,777
Asset-backed Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 19,725 27,502
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 19,725 27,502
Certificates of Deposit [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 1,905 2,123
Equity Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 374 307
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 374 307
Other Securities [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 18,150 12,892
Other Securities [Member] | Fair Value, Inputs, Level 1 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value 18,150 12,892
Certificate Of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]    
Available-for-sale:    
Investment securities: Available-for-sale, Fair Value $ 1,905 $ 2,123
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Schedule of Fair Value on a non-recurring basis - Impaired Loans [Member] - Appraisals Of Collateral Valuation Technique [Member]
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Commercial Portfolio Segment [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Valuation Technique Appraisals of collateral value Appraisals of collateral value
Commercial Portfolio Segment [Member] | Minimum [Member] | Market Capitalization [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 4.00% 4.00%
Commercial Portfolio Segment [Member] | Minimum [Member] | Sales [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 0.00% 0.00%
Commercial Portfolio Segment [Member] | Maximum [Member] | Market Capitalization [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 8.00% 8.00%
Commercial Portfolio Segment [Member] | Maximum [Member] | Sales [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 15.00% 15.00%
Commercial Real Estate Portfolio Segment [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Valuation Technique Appraisals of collateral value Appraisals of collateral value
Commercial Real Estate Portfolio Segment [Member] | Minimum [Member] | Market Capitalization [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 8.00% 8.00%
Commercial Real Estate Portfolio Segment [Member] | Maximum [Member] | Market Capitalization [Member]    
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques [Line Items]    
Discounted Range 12.00% 12.00%
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Schedule of Assets at Fair Value on Non-Recurring - Impaired Loans [Member] - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Commercial Real Estate Portfolio Segment [Member]    
Assets Measured at Fair Value on a Non-Recurring Basis:    
Assets, Fair Value Disclosure, Nonrecurring   $ 3,369
Commercial Portfolio Segment [Member]    
Assets Measured at Fair Value on a Non-Recurring Basis:    
Assets, Fair Value Disclosure, Nonrecurring $ 77,717 276
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member]    
Assets Measured at Fair Value on a Non-Recurring Basis:    
Assets, Fair Value Disclosure, Nonrecurring   3,369
Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member]    
Assets Measured at Fair Value on a Non-Recurring Basis:    
Assets, Fair Value Disclosure, Nonrecurring $ 77,717 $ 276
v3.3.1.900
Fair Value Measurements and Fair Value of Financial Instruments (Details) - Schedule of fair value hierarchy - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Financial assets        
Cash and cash equivalents, Carrying Amount $ 200,895 $ 126,847 $ 82,692 $ 106,138
Cash and cash equivalents, Fair Value 200,895 126,847    
Investment securities available-for-sale 195,770 289,532    
Investment Securities Available-for-Sale, Fair Value 195,770 289,532    
Investment securities held-to-maturity, Carrying Amount 224,056 224,682    
Investment securities held-to-maturity, Fair Value 230,558 231,445    
Investments in restricted stock, at cost, Carrying Amount $ 32,612 $ 23,535    
Investments in restricted stock, at cost, Fair Value    
Net loans, Carrying Amount $ 3,072,435 $ 2,524,481    
Net loans, Fair Value 3,059,343 2,538,415    
Derivatives   48    
Derivatives   48    
Accrued interest receivable, Carrying Amount 12,545 11,700    
Accrued interest receivable, Fair Value 12,545 11,700    
Financial liabilities        
Noninterest-bearing deposits, Carrying Amount 650,775 492,516    
Noninterest-bearing deposits, Fair Value 650,775 492,516    
Interest-bearing deposits, Carrying Amount 2,140,191 1,983,091    
Interest-bearing deposits, Fair Value 2,137,149 1,990,484    
Borrowings, Carrying Amount 671,587 495,553    
Borrowings, Fair Value 674,131 505,641    
Subordinated debentures, Carrying Amount 55,155 5,155    
Subordinated debentures, Fair Value 55,209 4,768    
Derivatives 131      
Derivatives 131      
Accrued interest payable, Carrying Amount 4,387 3,930    
Accrued interest payable, Fair Value 4,387 3,930    
Fair Value, Inputs, Level 1 [Member]        
Financial assets        
Cash and cash equivalents, Fair Value 200,895 126,847    
Investment Securities Available-for-Sale, Fair Value 18,524 13,199    
Investment securities held-to-maturity, Fair Value 29,226 29,184    
Accrued interest receivable, Fair Value 68 68    
Financial liabilities        
Noninterest-bearing deposits, Fair Value $ 650,775 492,516    
Derivatives      
Fair Value, Inputs, Level 2 [Member]        
Financial assets        
Investment Securities Available-for-Sale, Fair Value $ 177,246 276,333    
Investment securities held-to-maturity, Fair Value 182,774 183,489    
Derivatives   48    
Derivatives   48    
Accrued interest receivable, Fair Value 2,699 3,674    
Financial liabilities        
Interest-bearing deposits, Fair Value 2,137,149 1,990,484    
Borrowings, Fair Value 674,131 505,641    
Subordinated debentures, Fair Value 55,209 4,768    
Derivatives 131      
Accrued interest payable, Fair Value $ 4,387 $ 3,930    
Fair Value, Inputs, Level 3 [Member]        
Financial assets        
Investment Securities Available-for-Sale, Fair Value    
Investment securities held-to-maturity, Fair Value $ 18,558 $ 18,772    
Net loans, Fair Value 3,059,343 2,538,415    
Accrued interest receivable, Fair Value $ 9,778 $ 7,958    
Financial liabilities        
Derivatives      
v3.3.1.900
Parent Corporation Only Financial Statements (Details) - Condensed Statements of Condition - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and cash equivalents $ 31,291 $ 31,813
Securities available-for-sale 195,770 289,532
Other assets 24,908 22,782
Total assets 4,016,721 3,448,572
LIABILITIES AND STOCKHOLDERS' EQUITY    
Subordinated debentures 55,155 5,155
Stockholders' equity 477,344 446,219
Total liabilities and stockholders' equity 4,016,721 3,448,572
Parent Company [Member]    
ASSETS    
Cash and cash equivalents 14,857 274
Investment in subsidiaries 515,934 450,185
Securities available-for-sale 533 463
Other assets 3,070 2,250
Total assets 534,394 453,172
LIABILITIES AND STOCKHOLDERS' EQUITY    
Other liabilities 1,895 1,798
Subordinated debentures 55,155 5,155
Stockholders' equity 477,344 446,219
Total liabilities and stockholders' equity $ 534,394 $ 453,172
v3.3.1.900
Parent Corporation Only Financial Statements (Details) - Condensed Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income:                      
Dividend income from subsidiaries                 $ 1,081 $ 636 $ 523
Net Income $ 9,568 $ 10,842 $ 10,521 $ 10,379 $ 8,023 $ 1,766 $ 4,378 $ 4,398 41,311 18,565 19,925
Parent Company [Member]                      
Income:                      
Dividend income from subsidiaries                 10,537 9,276 4,393
Other income                 $ 7 $ 6 6
Net gains on available for sale securities                 22
Management fees                 $ 100 353
Total Income                 $ 10,544 9,382 4,774
Expenses                 (1,705) (707) (765)
Income before equity in undistributed earnings of subsidiaries                 8,839 8,675 4,009
Equity in undistributed earnings of subsidiaries                 32,472 9,890 15,916
Net Income                 $ 41,311 $ 18,565 $ 19,925
v3.3.1.900
Parent Corporation Only Financial Statements (Details) - Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:                        
Net income $ 9,568 $ 10,842 $ 10,521 $ 10,379 $ 8,023 $ 1,766 $ 4,378 $ 4,398 $ 41,311 $ 18,565 $ 19,925  
Adjustments to reconcile net income to net cash provided by operating activities:                        
Increase in other assets                 1,190 2,200 414  
Decrease in other liabilities                 (1,080) 377 (1,792)  
Stock based compensation                 747 223 59  
Cash flows from financing activities:                        
Cash dividends on common stock                 (8,996) (6,940) (4,254)  
Cash dividends on preferred stock                 (112) (140) (141)  
Proceeds from exercise of stock options                 1,424 885 21  
Decrease in cash and cash equivalents                 74,048 44,155 (23,446)  
Cash and cash equivalents at beginning of year 200,895       126,847       200,895 126,847 82,692 $ 106,138
Cash and cash equivalents at end of year 200,895       126,847       200,895 126,847 82,692  
Parent Company [Member]                        
Cash flows from operating activities:                        
Net income                 $ 41,311 $ 18,565 19,925  
Adjustments to reconcile net income to net cash provided by operating activities:                        
Net gains on sales of available for sale securities                 (22)  
Equity in undistributed earnings of subsidiary                 $ (32,472) $ (9,890) (15,916)  
Increase in other assets                 (820) (1,979) (167)  
Decrease in other liabilities                 (1,840) (1,010) (276)  
Stock based compensation                 747 223 59  
Net cash provided by operating activities                 $ 6,926 $ 5,909 3,603  
Cash flows from investing activities:                        
Proceeds from sales of available-for-sale securities                 $ 181  
Capital infusion to subsidiary                 $ (35,000)  
Net cash provided by (used in) investing activities                 (35,000) $ 181  
Cash flows from financing activities:                        
Proceeds from subordinated debt                 50,000  
Cash dividends on common stock                 (8,996) $ (6,940) $ (4,254)  
Cash dividends on preferred stock                 $ (112) $ (140) (141)  
Issuance of restricted stock award                 243  
Issuance cost of common stock                 $ (7) (13)  
Proceeds from exercise of stock options                 $ 1,424 885 21  
Tax expense from stock based compensation                 341 282 16  
Net cash used in financing activities                 42,657 (5,920) (4,128)  
Decrease in cash and cash equivalents                 14,583 (11) (344)  
Cash and cash equivalents at beginning of year 14,857       274       14,857 274 285 $ 629
Cash and cash equivalents at end of year $ 14,857       $ 274       $ 14,857 $ 274 $ 285  
v3.3.1.900
Quarterly Financial Information of ConnectOne Bancorp, Inc. (Unaudited) (Details) - Schedule of Quarterly Financial Information - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Schedule of Quarterly Financial Information [Abstract]                      
Total interest income $ 37,230 $ 36,186 $ 34,181 $ 33,370 $ 33,130 $ 32,343 $ 14,401 $ 14,337 $ 140,967 $ 94,207 $ 57,268
Total interest expense 6,774 6,459 5,503 5,078 4,550 4,797 2,733 2,727 23,814 14,808 11,082
Net interest income 30,456 29,727 28,678 28,292 28,580 27,546 11,668 11,610 117,153 79,399 46,186
Provision for loan and lease losses 5,055 4,175 1,550 1,825 2,474 1,300 284 625 12,605 4,683 350
Total other income, net of securities gains 1,225 1,752 3,215 1,049 1,358 1,062 1,150 1,106      
Net securities (losses) gains 1,138 2,067 221 506 718 111 574 1,415 3,931 2,818 1,711
Other expense 13,579 13,301 14,974 12,631 15,164 25,400 6,744 7,496      
Income before income taxes 14,185 16,070 15,590 15,391 13,018 2,019 6,364 6,010 61,237 27,410 27,409
Provision from income taxes 4,617 5,228 5,069 5,012 4,995 253 1,986 1,612      
Net income 9,568 10,842 10,521 10,379 8,023 1,766 4,378 4,398 41,311 18,565 19,925
Preferred dividends 28 28 28 28 28 28 28 28 112 112 169
Net income available to common stockholders $ 9,540 $ 10,814 $ 10,493 $ 10,351 $ 7,995 $ 1,738 $ 4,350 $ 4,370 $ 41,199 $ 18,453 $ 19,784
Earnings per share:                      
Basic (in Dollars per share) $ 0.32 $ 0.36 $ 0.35 $ 0.35 $ 0.27 $ 0.06 $ 0.27 $ 0.27 $ 1.38 $ 0.80 $ 1.21
Diluted (in Dollars per share) $ 0.31 $ 0.36 $ 0.35 $ 0.34 $ 0.27 $ 0.06 $ 0.26 $ 0.27 $ 1.36 $ 0.79 $ 1.21
Weighted average common shares outstanding:                      
Basic (in Shares) 30,033,062 30,045,818 29,868,247 29,757,316 29,699,301 29,636,001 16,372,885 16,350,183 29,938,458 23,029,813 16,349,204
Diluted weighted average common shares outstanding 30,310,905 30,335,571 30,231,480 30,149,469 30,149,244 30,108,103 16,430,376 16,405,540 30,283,966 23,479,074 16,385,692