Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2013

Loans and Allowance for Loan Losses [Abstract]

Recorded investment in loans by loan class

The following tables present the recorded investment in loans by loan class:

	June 30, 2013
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	168,308		21,370		189,678
Other		27,248		51		27,299
Real estate mortgage - 1 to 4 family:
First mortgages		1,833,212		330,403		2,163,615
Home equity loans		39,508		2,211		41,719
Home equity lines of credit		301,023		33,548		334,571
Installment		4,910		634		5,544
Total loans, net	$	2,374,209		388,217		2,762,426
Less: Allowance for loan losses						47,589
Net loans					$	2,714,837

	December 31, 2012
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	167,249		18,882		186,131
Other		33,381		65		33,446
Real estate mortgage - 1 to 4 family:
First mortgages		1,814,214		275,764		2,089,978
Home equity loans		35,601		1,089		36,690
Home equity lines of credit		301,338		32,571		333,909
Installment		4,183		396		4,579
Total loans, net	$	2,355,966		328,767		2,684,733
Less: Allowance for loan losses						47,927
Net loans					$	2,636,806

* Includes New York, New Jersey, Vermont and Massachusetts.

Recorded investment in non-accrual loans by loan class

The following tables present the recorded investment in nonaccrual loans by loan class:

	June 30, 2013
(dollars in thousands)	New York and
	other states*		Florida		Total
Loans in nonaccrual status:
Commercial:
Commercial real estate	$	5,768		583		6,351
Other		123		-		123
Real estate mortgage - 1 to 4 family:
First mortgages		26,219		5,512		31,731
Home equity loans		549		-		549
Home equity lines of credit		3,968		510		4,478
Installment		36		-		36
Total non-accrual loans		36,663		6,605		43,268
Restructured real estate mortgages - 1 to 4 family		174		-		174
Total nonperforming loans	$	36,837		6,605		43,442

	December 31, 2012
(dollars in thousands)	New York and
	other states*		Florida		Total
Loans in nonaccrual status:
Commercial:
Commercial real estate	$	6,511		2,698		9,209
Other		124		-		124
Real estate mortgage - 1 to 4 family:
First mortgages		30,329		7,319		37,648
Home equity loans		694		-		694
Home equity lines of credit		4,263		501		4,764
Installment		6		1		7
Total non-accrual loans		41,927		10,519		52,446
Restructured real estate mortgages - 1 to 4 family		231		-		231
Total nonperforming loans	$	42,158		10,519		52,677

Aging of the recorded investment in past due loans by loan class and by region

The following tables present the aging of the recorded investment in past due loans by loan class and by region:

New York and other states:

	June 30, 2013
(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	1,986		112		4,126		6,224		162,084		168,308
Other		-		-		123		123		27,125		27,248
Real estate mortgage - 1 to 4 family:
First mortgages		5,780		1,927		18,525		26,232		1,806,980		1,833,212
Home equity loans		112		40		398		550		38,958		39,508
Home equity lines of credit		791		523		2,552		3,866		297,157		301,023
Installment		47		30		7		84		4,826		4,910
Total	$	8,716		2,632		25,731		37,079		2,337,130		2,374,209

Florida:

(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	-		-		583		583		20,787		21,370
Other		-		-		-		-		51		51
Real estate mortgage - 1 to 4 family:
First mortgages		584		244		3,843		4,671		325,732		330,403
Home equity loans		-		-		-		-		2,211		2,211
Home equity lines of credit		-		-		420		420		33,128		33,548
Installment		9		-		-		9		625		634
Total	$	593		244		4,846		5,683		382,534		388,217

Total:

(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	1,986		112		4,709		6,807		182,871		189,678
Other		-		-		123		123		27,176		27,299
Real estate mortgage - 1 to 4 family:
First mortgages		6,364		2,171		22,368		30,903		2,132,712		2,163,615
Home equity loans		112		40		398		550		41,169		41,719
Home equity lines of credit		791		523		2,972		4,286		330,285		334,571
Installment		56		30		7		93		5,451		5,544
Total	$	9,309		2,876		30,577		42,762		2,719,664		2,762,426

New York and other states:

	December 31, 2012
(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	-		-		3,225		3,225		164,024		167,249
Other		-		-		4		4		33,377		33,381
Real estate mortgage - 1 to 4 family:
First mortgages		6,364		2,248		21,341		29,953		1,784,261		1,814,214
Home equity loans		177		216		464		857		34,744		35,601
Home equity lines of credit		604		350		3,044		3,998		297,340		301,338
Installment		40		27		-		67		4,116		4,183
Total	$	7,185		2,841		28,078		38,104		2,317,862		2,355,966

Florida:

(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	-		-		2,698		2,698		16,184		18,882
Other		-		-		-		-		65		65
Real estate mortgage - 1 to 4 family:
First mortgages		862		452		5,390		6,704		269,060		275,764
Home equity loans		-		-		-		-		1,089		1,089
Home equity lines of credit		59		29		442		530		32,041		32,571
Installment		9		-		1		10		386		396
Total	$	930		481		8,531		9,942		318,825		328,767

Total:

(dollars in thousands)		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
	Past Due		Past Due		Past Due		Past Due		Current		Loans
Commercial:
Commercial real estate	$	-		-		5,923		5,923		180,208		186,131
Other		-		-		4		4		33,442		33,446
Real estate mortgage - 1 to 4 family:
First mortgages		7,226		2,700		26,731		36,657		2,053,321		2,089,978
Home equity loans		177		216		464		857		35,833		36,690
Home equity lines of credit		663		379		3,486		4,528		329,381		333,909
Installment		49		27		1		77		4,502		4,579
Total	$	8,115		3,322		36,609		48,046		2,636,687		2,684,733

Transactions in the allowance for loan losses by portfolio segment

Transactions in the allowance for loan losses are summarized as follows:

(dollars in thousands)	For the three months ended June 30, 2013
				Real Estate
				Mortgage-
	Commercial			1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,964			43,595		99		47,658
Loans charged off:
New York and other states*		49			2,008		16		2,073
Florida		-			162		-		162
Total loan chargeoffs		49			2,170		16		2,235
Recoveries of loans previously charged off:
New York and other states*		-			123		3		126
Florida		1			39		-		40
Total recoveries		1			162		3		166
Net loans charged off		48			2,008		13		2,069
Provision for loan losses		(197	)		2,179		18		2,000
Balance at end of period	$	3,719			43,766		104		47,589

(dollars in thousands)	For the three months ended June 30, 2012
			Real Estate
			Mortgage-
	Commercial		1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,602		44,851		82		48,535
Loans charged off:
New York and other states*		715		1,956		22		2,693
Florida		288		674		-		962
Total loan chargeoffs		1,003		2,630		22		3,655
Recoveries of loans previously charged off:
New York and other states*		2		112		15		129
Florida		-		9		-		9
Total recoveries		2		121		15		138
Net loans charged off		1,001		2,509		7		3,517
Provision for loan losses		1,191		1,805		4		3,000
Balance at end of period	$	3,792		44,147		79		48,018

(dollars in thousands)	For the six months ended June 30, 2013
			Real Estate
			Mortgage-
	Commercial		1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,771		44,069		87		47,927
Loans charged off:
New York and other states*		299		3,645		35		3,979
Florida		100		567		-		667
Total loan chargeoffs		399		4,212		35		4,646
Recoveries of loans previously charged off:
New York and other states*		2		197		7		206
Florida		2		100		-		102
Total recoveries		4		297		7		308
Net loans charged off		395		3,915		28		4,338
Provision for loan losses		343		3,612		45		4,000
Balance at end of period	$	3,719		43,766		104		47,589

(dollars in thousands)	For the six months ended June 30, 2012
			Real Estate
			Mortgage-
	Commercial		1 to 4 Family		Installment			Total
Balance at beginning of period	$	4,140		44,479		98			48,717
Loans charged off:
New York and other states*		1,039		3,213		30			4,282
Florida		456		2,349		-			2,805
Total loan chargeoffs		1,495		5,562		30			7,087
Recoveries of loans previously charged off:
New York and other states*		5		233		31			269
Florida		8		11		-			19
Total recoveries		13		244		31			288
Net loans charged off		1,482		5,318		(1	)		6,799
Provision for loan losses		1,134		4,986		(20	)		6,100
Balance at end of period	$	3,792		44,147		79			48,018

Allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method:

	June 30, 2013
	Commercial Loans		1-to-4 Family Residential Real Estate		Installment Loans		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	-		-		-		-
Collectively evaluated for impairment		3,719		43,766		104		47,589
Total ending allowance balance	$	3,719		43,766		104		47,589
Loans:
Individually evaluated for impairment	$	6,474		18,891		-		25,365
Collectively evaluated for impairment		210,503		2,521,014		5,544		2,737,061
Total ending loans balance	$	216,977		2,539,905		5,544		2,762,426

	December 31, 2012
	Commercial Loans		1-to-4 Family Residential Real Estate		Installment Loans		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	-		-		-		-
Collectively evaluated for impairment		3,771		44,069		87		47,927
Total ending allowance balance	$	3,771		44,069		87		47,927
Loans:
Individually evaluated for impairment	$	9,333		16,740		-		26,073
Collectively evaluated for impairment		210,244		2,443,837		4,579		2,658,660
Total ending loans balance	$	219,577		2,460,577		4,579		2,684,733

Impaired loans by loan class

The following tables present impaired loans by loan class:

New York and other states:

	June 30, 2013
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	5,768		6,696		-		6,058
Other		123		123		-		124
Real estate mortgage - 1 to 4 family:
First mortgages		14,868		15,826		-		13,339
Home equity loans		687		819		-		636
Home equity lines of credit		1,807		1,980		-		1,744
Total	$	23,253		25,444		-		21,901

Florida:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	583		1,038		-		1,942
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,498		2,110		-		1,212
Home equity loans		-		-		-		-
Home equity lines of credit		31		49		-		11
Total	$	2,112		3,197		-		3,165

Total:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	6,351		7,734		-		8,000
Other		123		123		-		124
Real estate mortgage - 1 to 4 family:
First mortgages		16,366		17,936		-		14,551
Home equity loans		687		819		-		636
Home equity lines of credit		1,838		2,029		-		1,755
Total	$	25,365		28,641		-		25,066

New York and other states:

	December 31, 2012
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	6,511		7,169		-		5,615
Other		124		124		-		107
Real estate mortgage - 1 to 4 family:
First mortgages		12,964		14,143		-		6,075
Home equity loans		623		664		-		260
Home equity lines of credit		1,633		1,735		-		458
Total	$	21,855		23,835		-		12,515

Florida:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	2,698		3,890		-		5,871
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,472		2,665		-		948
Home equity lines of credit		48		176		-		24
Total	$	4,218		6,731		-		6,843

Total:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	9,209		11,059		-		11,486
Other		124		124		-		107
Real estate mortgage - 1 to 4 family:
First mortgages		14,436		16,808		-		7,023
Home equity loans		623		664		-		260
Home equity lines of credit		1,681		1,911		-		482
Total	$	26,073		30,566		-		19,358

Modified loans by class that were determined to be TDR's

The following table presents modified loans by class that were determined to be TDR’s that occurred during the three months and twelve months ended June 30, 2013 and 2012:

	During the three months ended 6/30/2013						During the three months ended 6/30/2012
New York and other states*:			Pre-Modification		Post-Modification				Pre-Modification		Post-Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
(dollars in thousands)	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial:
Commercial real estate		-	$	-		-		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		14		2,014		2,014		9		890		853
Home equity loans		4		87		87		1		5		5
Home equity lines of credit		2		87		87		1		106		106
Total		20	$	2,188		2,188		11	$	1,001		964

Florida:			Pre-Modification		Post-Modification				Pre-Modification		Post-Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
(dollars in thousands)	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial:
Commercial real estate		-	$	-		-		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		2		290		290		4		403		386
Home equity lines of credit		1		31		31		-		-		-
Total		3	$	321		321		4	$	403		386

	During the twelve months ended 6/30/2013						During the twelve months ended 6/30/2012
New York and other states*:			Pre-Modification		Post-Modification				Pre-Modification		Post-Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
(dollars in thousands)	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial:
Commercial real estate		2	$	131		131		1	$	91		90
Real estate mortgage - 1 to 4 family:
First mortgages		106		12,462		12,462		27		3,348		2,831
Home equity loans		23		563		563		4		125		103
Home equity lines of credit		32		1,495		1,495		1		106		106
Total		163	$	14,651		14,651		33	$	3,670		3,130

Florida:			Pre-Modification		Post-Modification				Pre-Modification		Post-Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
(dollars in thousands)	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial:
Commercial real estate		-	$	-		-		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		13		1,583		1,583		9		1,085		926
Home equity lines of credit		2		31		31		-		-		-
Total
		15	$	1,614		1,614		9	$	1,085		926

Loans by class modified as TDR's for which there was a payment default

The following table presents loans by class modified as TDR’s that occurred during the twelve months ended June 30, 2013 and 2012 for which there was a payment default during the same period:

	Twelve months ended 6/30/2013				Twelve months ended 6/30/2012
New York and other states*:	Number of		Recorded		Number of		Recorded
(dollars in thousands)	Contracts		Investment		Contracts		Investment
Commercial:
Commercial real estate		-	$	-		-	$	-
Real estate mortgage - 1 to 4 family:
First mortgages		21		2,634		24		2,560
Home equity loans		3		78		3		98
Home equity lines of credit		9		532		-		-
Total		33	$	3,244		27	$	2,658

Florida:
	Number of		Recorded		Number of		Recorded
(dollars in thousands)	Contracts		Investment		Contracts		Investment
Commercial:
Commercial real estate		-	$	-		-	$	-
Real estate mortgage - 1 to 4 family:
First mortgages		3		375		9		926
Home equity lines of credit		-		-		-		-
Total		3	$	375		9	$	926

Risk category of loans by class of loans

As of June 30, 2013 and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	June 30, 2013
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	157,697		10,611		168,308
Other		26,935		313		27,248
	$	184,632		10,924		195,556

Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	17,220		4,150		21,370
Other		51		-		51
	$	17,271		4,150		21,421

	December 31, 2012
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	155,981		11,268		167,249
Other		33,067		314		33,381
	$	189,048		11,582		200,630

Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	12,454		6,428		18,882
Other		65		-		65
	$	12,519		6,428		18,947