Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Financial Assets and Financial Liabilities Measured at Fair Value

The following table summarizes financial assets and financial liabilities measured at fair value as of June 30, 2017 and December 31, 2016, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):

			Fair Value Measurements at Reporting Date Using:
June 30, 2017	Total Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Items measured on a recurring basis:
Investment securities available-for-sale:
U.S. agency obligations	$	62,154	$	—	$	62,154	$	—
Items measured on a non-recurring basis:
Other real estate owned	8,898		—		—		8,898
Loans measured for impairment based on the fair value of the underlying collateral	8,136		—		—		8,136

			Fair Value Measurements at Reporting Date Using:
December 31, 2016	Total Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Items measured on a recurring basis:
Investment securities available-for-sale:
U.S. agency obligations	$	12,224	$	—	$	12,224	$	—
Items measured on a non-recurring basis:
Other real estate owned	9,803		—		—		9,803
Loans measured for impairment based on the fair value of the underlying collateral	2,419		—		—		2,419

Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value

The book value and estimated fair value of the Bank’s significant financial instruments not recorded at fair value as of June 30, 2017 and December 31, 2016 are presented in the following tables (in thousands):

			Fair Value Measurements at Reporting Date Using:
June 30, 2017	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	107,660	$	107,660	$	—	$	—
Securities held-to-maturity	720,511		8,670		711,924		3,656
Federal Home Loan Bank of New York stock	20,358		—		—		20,358
Loans receivable, net and mortgage loans held for sale	3,868,973		—		—		3,932,367
Financial Liabilities:
Deposits other than time deposits	3,554,362		—		3,554,362		—
Time deposits	622,547		—		618,396		—
Securities sold under agreements to repurchase with retail customers	75,050		75,050		—		—
Federal Home Loan Bank advances and other borrowings	334,164		—		332,729		—

			Fair Value Measurements at Reporting Date Using:
December 31, 2016	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	301,373	$	301,373	$	—	$	—
Securities held-to-maturity	598,691		8,550		586,504		3,030
Federal Home Loan Bank of New York stock	19,313		—		—		19,313
Loans receivable and mortgage loans held for sale	3,804,994		—		—		3,834,677
Financial Liabilities:
Deposits other than time deposits	3,540,647		—		3,540,647		—
Time deposits	647,103		—		644,354		—
Securities sold under agreements to repurchase with retail customers	69,935		69,935		—		—
Federal Home Loan Bank advances and other borrowings	307,057		—		304,901		—