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SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE
12 Months Ended
Dec. 31, 2012
SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE [Abstract]  
SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE
13.   SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE

On April 12, 2000, the Holding Company issued subordinated notes in the aggregate amount of $25,000. The notes were satisfied on May 1, 2010.  Interest expense recorded on the notes, inclusive of amortization of related issuance costs, was $799 during the year ended December 31, 2010.

On March 19, 2004, the Holding Company completed an offering of trust preferred securities through Dime Community Capital Trust I, an unconsolidated special purpose entity formed for the purpose of the offering.  The trust preferred securities bear a fixed interest rate of 7.0%, mature on April 14, 2034, and are callable without penalty at any time on or after April 15, 2009.  The outstanding balance of the trust preferred securities was $70,680 at both December 31, 2012 and 2011.The Holding Company currently does not intend to call this debt.

Interest expense recorded on the trust preferred securities totaled $5,024, $5,024 and $5,008 during the years ended December 31, 2012, 2011 and 2010, respectively.