Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 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:

	September 30, 2013
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	166,117		21,353		187,470
Other		25,319		44		25,363
Real estate mortgage - 1 to 4 family:
First mortgages		1,872,434		358,066		2,230,500
Home equity loans		45,417		3,147		48,564
Home equity lines of credit		302,362		34,816		337,178
Installment		5,208		686		5,894
Total loans, net	$	2,416,857		418,112		2,834,969
Less: Allowance for loan losses						47,722
Net loans					$	2,787,247

	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:

	September 30, 2013
(dollars in thousands)	New York and
	other states*		Florida		Total
Loans in nonaccrual status:
Commercial:
Commercial real estate	$	5,313		-		5,313
Other		123		-		123
Real estate mortgage - 1 to 4 family:
First mortgages		26,270		5,075		31,345
Home equity loans		499		-		499
Home equity lines of credit		3,874		331		4,205
Installment		71		-		71
Total non-accrual loans		36,150		5,406		41,556
Restructured real estate mortgages - 1 to 4 family		170		-		170
Total nonperforming loans	$	36,320		5,406		41,726

	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:

	September 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	$	-		185		3,939		4,124		161,993		166,117
Other		-		-		123		123		25,196		25,319
Real estate mortgage - 1 to 4 family:
First mortgages		6,607		2,009		18,636		27,252		1,845,182		1,872,434
Home equity loans		347		68		349		764		44,653		45,417
Home equity lines of credit		387		363		2,404		3,154		299,208		302,362
Installment		50		27		53		130		5,078		5,208
Total	$	7,391		2,652		25,504		35,547		2,381,310		2,416,857

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	$	-		-		-		-		21,353		21,353
Other		-		-		-		-		44		44
Real estate mortgage - 1 to 4 family:
First mortgages		1,692		78		3,580		5,350		352,716		358,066
Home equity loans		-		-		-		-		3,147		3,147
Home equity lines of credit		125		25		242		392		34,424		34,816
Installment		9		-		-		9		677		686
Total	$	1,826		103		3,822		5,751		412,361		418,112

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	$	-		185		3,939		4,124		183,346		187,470
Other		-		-		123		123		25,240		25,363
Real estate mortgage - 1 to 4 family:
First mortgages		8,299		2,087		22,216		32,602		2,197,898		2,230,500
Home equity loans		347		68		349		764		47,800		48,564
Home equity lines of credit		512		388		2,646		3,546		333,632		337,178
Installment		59		27		53		139		5,755		5,894
Total	$	9,217		2,755		29,326		41,298		2,793,671		2,834,969

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 September 30, 2013
			Real Estate
			Mortgage-
	Commercial		1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,719		43,766		104		47,589
Loans charged off:
New York and other states*		585		1,638		30		2,253
Florida		-		234		3		237
Total loan chargeoffs		585		1,872		33		2,490
Recoveries of loans previously charged off:
New York and other states*		-		423		5		428
Florida		502		193		-		695
Total recoveries		502		616		5		1,123
Net loans charged off		83		1,256		28		1,367
Provision for loan losses		228		1,240		32		1,500
Balance at end of period	$	3,864		43,750		108		47,722

(dollars in thousands)	For the three months ended September 30, 2012
			Real Estate
			Mortgage-
	Commercial		1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,792		44,147		79		48,018
Loans charged off:
New York and other states*		34		2,197		17		2,248
Florida		736		747		1		1,484
Total loan chargeoffs		770		2,944		18		3,732
Recoveries of loans previously charged off:
New York and other states*		25		40		10		75
Florida		-		103		-		103
Total recoveries		25		143		10		178
Net loans charged off		745		2,801		8		3,554
Provision for loan losses		813		2,080		7		2,900
Balance at end of period	$	3,860		43,426		78		47,364

(dollars in thousands)	For the nine months ended September 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*		884		5,283		65		6,232
Florida		100		801		3		904
Total loan chargeoffs		984		6,084		68		7,136
Recoveries of loans previously charged off:
New York and other states*		2		620		12		634
Florida		504		293		-		797
Total recoveries		506		913		12		1,431
Net loans charged off		478		5,171		56		5,705
Provision for loan losses		571		4,852		77		5,500
Balance at end of period	$	3,864		43,750		108		47,722

(dollars in thousands)	For the nine months ended September 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*		1,073		5,410		47			6,530
Florida		1,192		3,096		1			4,289
Total loan chargeoffs		2,265		8,506		48			10,819
Recoveries of loans previously charged off:
New York and other states*		30		273		41			344
Florida		8		114		-			122
Total recoveries		38		387		41			466
Net loans charged off		2,227		8,119		7			10,353
Provision for loan losses		1,947		7,066		(13	)		9,000
Balance at end of period	$	3,860		43,426		78			47,364

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:

	September 30, 2013
			1-to-4 Family
	Commercial Loans		Residential Real Estate		Installment Loans		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	-		-		-		-
Collectively evaluated for impairment		3,864		43,750		108		47,722
Total ending allowance balance	$	3,864		43,750		108		47,722
Loans:
Individually evaluated for impairment	$	5,436		20,613		-		26,049
Collectively evaluated for impairment		207,397		2,595,629		5,894		2,808,920
Total ending loans balance	$	212,833		2,616,242		5,894		2,834,969

	December 31, 2012
			1-to-4 Family
	Commercial Loans		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:

	September 30, 2013
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	5,313		6,825		-		5,756
Other		123		123		-		123
Real estate mortgage - 1 to 4 family:
First mortgages		15,548		16,779		-		13,455
Home equity loans		634		753		-		539
Home equity lines of credit		2,520		2,828		-		1,861
Total	$	24,138		27,308		-		21,734

Florida:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	-		-		-		-
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,818		2,320		-		1,205
Home equity loans		-		-		-		-
Home equity lines of credit		93		183		-		39
Total	$	1,911		2,503		-		1,244

Total:

(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	5,313		6,825		-		5,756
Other		123		123		-		123
Real estate mortgage - 1 to 4 family:
First mortgages		17,366		19,099		-		14,660
Home equity loans		634		753		-		539
Home equity lines of credit		2,613		3,011		-		1,900
Total	$	26,049		29,811		-		22,978

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 September 30, 2013 and 2012:

	During the three months ended 9/30/2013						During the three months ended 9/30/2012
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	$	166		166
Real estate mortgage - 1 to 4 family:
First mortgages		14		1,461		1,461		73		8,807		8,807
Home equity loans		1		9		9		14		485		485
Home equity lines of credit		7		787		787		27		1,475		1,475
Total		22	$	2,257		2,257		116	$	10,933		10,933

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		4		536		536		8		878		878
Home equity lines of credit		1		63		63		2		50		50
Total		5	$	599		599		10	$	928		928

	During the twelve months ended 9/30/2013							During the twelve months ended 9/30/2012
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		$	166		166
Real estate mortgage - 1 to 4 family:
First mortgages		47			5,579		5,579		94			11,845		11,845
Home equity loans		9			166		166		17			605		605
Home equity lines of credit		15			1,062		1,062		28			1,581		1,581
Total		71		$	6,807		6,807		141		$	14,197		14,197

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		7			1,121		1,121		12			1,306		1,306
Home equity lines of credit		2			93		93		2			50		50
Total
		9		$	1,214		1,214		14		$	1,356		1,356

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 September 30, 2013 and 2012 for which there was a payment default during the same period:

	Twelve months ended 9/30/2013				Twelve months ended 9/30/2012
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		6		589		24		3,042
Home equity loans		1		44		3		96
Home equity lines of credit		3		94		2		136
Total		10	$	727		29	$	3,274

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		1			138		7			719
Home equity lines of credit		-			-		1			47
Total		1		$	138		8		$	766

Risk category of loans by class of loans

As of September 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:

	September 30, 2013
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	157,353		8,764		166,117
Other		25,006		313		25,319
	$	182,359		9,077		191,436

Florida:

(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	20,223		1,130		21,353
Other		44		-		44
	$	20,267		1,130		21,397

	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