FHLBNY ADVANCES

12 Months Ended

Dec. 31, 2011

FHLBNY ADVANCES [Abstract]

FHLBNY ADVANCES

12.   FHLBNY ADVANCES

The Bank had borrowings (''Advances'') from the FHLBNY totaling $939,775 and $990,525 at December 31, 2011 and 2010, respectively, all of which were fixed rate. The average interest cost of FHLBNY Advances was 3.17%, 3.51%, and 3.89% during the years ended December 31, 2011, 2010 and 2009, respectively.  The average interest rate on outstanding FHLBNY Advances was 2.88% and 3.26% at December 31, 2011 and 2010, respectively.  At December 31, 2011, in accordance with its Advances, Collateral Pledge and Security Agreement with the FHLBNY, the Bank maintained $1,377,415 in qualifying collateral, as defined by the FHLBNY, with the FHLBNY (principally real estate loans), to secure such Advances.  Certain of the FHLBNY Advances outstanding at December 31, 2011 contained call features that may be exercised by the FHLBNY.

The following table presents a summary of future maturities of FHLBNY Advances outstanding at December 31, 2011:

Year Ending December 31,	Maturing Balance		Weighted Average Interest Rate
2012	$	172,275		2.72	%
2013		143,500		2.52
2014		199,500		2.92
2015		284,500		2.55
2016		50,000		4.36
2017 and beyond		90,000		3.87
TOTAL	$	939,775		2.88	%