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INCOME TAXES
9 Months Ended
Sep. 30, 2011
INCOME TAXES [Abstract] 
INCOME TAXES
13.   INCOME TAXES

During the three months ended September 30, 2011, the Company's consolidated effective tax rate was 41.7%, slightly above its expected 41% normalized rate.   During the nine months ended September 30, 2011, the Company's consolidated effective tax rate was 41.1%, approximating its expected 41% normalized rate.
 
During the three months ended September 30, 2010, New York State and New York City enacted a change in tax law associated with bad debt deductions permissible by savings banks effective January 1, 2010.  This change adversely impacted the Company's consolidated 2010 tax rate.  Since both tax jurisdictions made the change retroactive to January 1, 2010, an adjustment was required during the three months ended September 30, 2010 in order to account for the difference between the previous and new tax rules for the first six months of 2010.  As a result, the Company's consolidated effective tax rate was 42.6% during the three months ended September 30, 2010.  The effective tax rate for the nine months ended September 30, 2010 was 40.7% after adjusting for the changes in New York State and New York City tax law.