Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

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 September 30, 2016 and December 31, 2015, 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:
	Total Fair		Level 1		Level 2		Level 3
September 30, 2016	Value		Inputs		Inputs		Inputs
Items measured on a recurring basis:
Investment securities available-for-sale:
U.S. agency obligations	$	2,497	$	—	$	2,497	$	—
Items measured on a non-recurring basis:
Other real estate owned		9,107		—		—		9,107
Loans measured for impairment based on the fair value of the underlying collateral		3,899		—		—		3,899

			Fair Value Measurements at Reporting Date Using:
	Total Fair		Level 1		Level 2		Level 3
December 31, 2015	Value		Inputs		Inputs		Inputs
Items measured on a recurring basis:
Investment securities available-for-sale:
U.S. agency obligations	$	29,902	$	—	$	29,902	$	—
Items measured on a non-recurring basis:
Other real estate owned		8,827		—		—		8,827
Loans measured for impairment based on the fair value of the underlying collateral		4,344		—		—		4,344

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 September 30, 2016 and December 31, 2015 are presented in the following tables (in thousands):

			Fair Value Measurements at Reporting Date Using:
September 30, 2016	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	311,583	$	311,583	$	—	$	—
Securities held-to-maturity		470,642		8,768		469,959		—
Federal Home Loan Bank of New York stock		18,289		—		—		18,289
Loans receivable, net and mortgage loans held for sale		3,050,375		—		—		3,069,496
Financial Liabilities:
Deposits other than time deposits		2,853,267		—		2,853,267		—
Time deposits		471,414		—		472,774		—
Securities sold under agreements to repurchase with retail customers		69,078		69,078		—		—
Federal Home Loan Bank advances and other borrowings		307,545		—		311,324		—

			Fair Value Measurements at Reporting Date Using:
December 31, 2015	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	43,946	$	43,946	$	—	$	—
Securities held-to-maturity		394,813		—		397,763		—
Federal Home Loan Bank of New York stock		19,978		—		—		19,978
Loans receivable and mortgage loans held for sale		1,973,400		—		—		1,986,891
Financial Liabilities:
Deposits other than time deposits		1,661,255		—		1,661,255		—
Time deposits		255,423		—		255,564		—
Securities sold under agreements to repurchase with retail customers		75,872		75,872		—		—
Federal Home Loan Bank advances and other borrowings		346,885		—		346,118		—