XML 28 R29.htm IDEA: XBRL DOCUMENT v3.3.0.814
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2015
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]  
Schedule of Fair Value, Assets Measured on Recurring Basis
The following tables present the assets that are reported on the consolidated statements of financial condition at fair value as of the date indicated segmented by level within the fair value hierarchy.  Financial assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


Assets Measured at Fair Value on a Recurring Basis at September 30, 2015
 
    
Fair Value Measurements Using
 
Description
 
Total
  
Level 1 Inputs
  
Level 2
Inputs
  
Level 3 Inputs
 
Trading securities (Registered Mutual Funds):
        
   Domestic Equity Mutual Funds
 
$
995
  
$
995
  
$
-
  
$
-
 
   International Equity Mutual Funds
  
273
   
273
   
-
   
-
 
   Fixed Income Mutual Funds
  
7,429
   
7,429
   
-
   
-
 
Investment securities available-for-sale:
                
   Registered Mutual Funds:
                
      Domestic Equity Mutual Funds
  
1,183
   
1,183
   
-
   
-
 
      International Equity Mutual Funds
  
372
   
372
   
-
   
-
 
      Fixed Income Mutual Funds
  
2,129
   
2,129
   
-
   
-
 
Pass-through MBS issued by GSEs
  
446
   
-
   
446
   
-
 

Assets Measured at Fair Value on a Recurring Basis at December 31, 2014
 
    
Fair Value Measurements Using
 
Description
 
Total
  
Level 1 Inputs
  
Level 2
Inputs
  
Level 3 Inputs
 
Trading securities (Registered Mutual Funds):
        
   Domestic Equity Mutual Funds
 
$
1,399
  
$
1,399
  
$
-
  
$
-
 
   International Equity Mutual Funds
  
159
   
159
   
-
   
-
 
   Fixed Income Mutual Funds
  
7,001
   
7,001
   
-
   
-
 
Investment securities available-for-sale:
                
   Agency notes
  
70
   
-
   
70
   
-
 
   Registered Mutual Funds:
                
      Domestic Equity Mutual Funds
  
2,160
   
2,160
   
-
   
-
 
      International Equity Mutual Funds
  
415
   
415
   
-
   
-
 
      Fixed Income Mutual Funds
  
1,161
   
1,161
   
-
   
-
 
Pass-through MBS issued by GSEs
  
25,607
   
-
   
25,607
   
-
 
Private issuer pass through MBS
  
455
   
-
   
455
   
-
 
Private issuer CMOs
  
347
   
-
   
347
   
-
 
Fair Value Measurements, Nonrecurring
There were no assets measured at fair value on a non-recurring basis as of September 30, 2015. The following table summarizes assets measured at fair value on a non-recurring basis as of December 31, 2014:
 
Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2014
    
Fair Value Measurements Using
Description
 
Total
 
Level 1 Inputs
 
Level 2 Inputs
Level 3 Inputs
Impaired loans:
       
   Commercial Mixed Use Real Estate
 
$4,400
 
$- 
 
$- 
$4,400
Fair Value Inputs, Assets, Quantitative Information
The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis at December 31, 2014:

Fair Value Derived
Valuation Technique Utilized
Significant Unobservable Input(s)
Minimum Value
Maximum Value
Weighted Average Value
$4,400
Income approach only
Capitalization rate
N/A(1)
N/A(1)
7.5%
(1)  Only one loan in this population.
Fair Value, by Balance Sheet Grouping
The carrying amounts and estimated fair values of financial instruments other than those measured at fair value on either a recurring or non-recurring basis at September 30, 2015 and December 31, 2014 were as follows:

    
Fair Value at September 30, 2015 Using
   
At September 30, 2015
 
Carrying
Amount
  
Level 1
Inputs
  
Level 2
Inputs
  
Level 3
Inputs
  
Total
 
Assets:
          
Cash and due from banks
 
$
74,073
  
$
74,073
  
$
-
  
$
-
  
$
74,073
 
Federal funds sold and other short-term investments
  
-
   
-
   
-
   
-
   
-
 
Investment securities held to maturity (TRUPS)
  
5,349
   
-
   
7,478
   
-
   
7,478
 
Loans, net (excluding impaired loans carried at fair value)
  
4,473,133
   
-
   
-
   
4,521,373
   
4,521,373
 
Accrued interest receivable
  
12,547
   
-
   
28
   
12,519
   
12,547
 
FHLBNY capital stock
  
54,348
   
N/
A
  
N/
A
  
N/
A
  
N/
A
Liabilities:
                    
Savings, money market and checking accounts
  
2,141,790
   
2,141,790
   
-
   
-
   
2,141,790
 
Certificates of Deposit ("CDs")
  
887,707
   
-
   
895,391
   
-
   
895,391
 
Escrow and other deposits
  
131,132
   
131,132
   
-
   
-
   
131,132
 
FHLBNY Advances
  
1,069,725
   
-
   
1,079,707
   
-
   
1,079,707
 
Trust Preferred securities payable
  
70,680
   
-
   
70,680
   
-
   
70,680
 
Accrued interest payable
  
2,389
   
-
   
2,389
   
-
   
2,389
 



    
Fair Value at December 31, 2014 Using
 
At December 31, 2014
 
Carrying
Amount
  
Level 1
Inputs
  
Level 2
Inputs
  
Level 3
Inputs
  
Total
 
Assets:
          
Cash and due from banks
 
$
78,187
  
$
78,187
  
$
-
  
$
-
  
$
78,187
 
Federal funds sold and other short-term investments
  
250
   
250
   
-
   
-
   
250
 
Investment securities held to maturity (TRUPS)
  
5,367
   
-
   
-
   
6,315
   
6,315
 
Loans, net (excluding impaired loans carried at fair value)
  
4,096,347
   
-
   
-
   
4,188,137
   
4,188,137
 
Accrued interest receivable
  
12,664
   
2
   
104
   
12,558
   
12,664
 
FHLBNY capital stock
  
58,407
   
N/
A
  
N/
A
  
N/
A
  
N/
A
Liabilities:
                    
Savings, money market and checking accounts
  
1,733,474
   
1,733,474
   
-
   
-
   
1,733,474
 
CDs
  
926,318
   
-
   
934,324
   
-
   
934,324
 
Escrow and other deposits
  
91,921
   
91,921
   
-
   
-
   
91,921
 
FHLBNY Advances
  
1,173,725
   
-
   
1,186,069
   
-
   
1,186,069
 
Trust Preferred securities payable
  
70,680
   
-
   
70,680
   
-
   
70,680
 
Accrued interest payable
  
2,729
   
-
   
2,729
   
-
   
2,729