Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2014

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, 2014
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	167,815		21,908		189,723
Other		32,864		68		32,932
Real estate mortgage - 1 to 4 family:
First mortgages		1,960,668		422,564		2,383,232
Home equity loans		49,695		4,573		54,268
Home equity lines of credit		301,236		38,661		339,897
Installment		5,466		632		6,098
Total loans, net	$	2,517,744		488,406		3,006,150
Less: Allowance for loan losses						46,935
Net loans					$	2,959,215
	December 31, 2013
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	169,722		21,404		191,126
Other		32,323		32		32,355
Real estate mortgage - 1 to 4 family:
First mortgages		1,909,447		378,361		2,287,808
Home equity loans		47,494		3,642		51,136
Home equity lines of credit		304,044		36,445		340,489
Installment		5,292		603		5,895
Total loans, net	$	2,468,322		440,487		2,908,809
Less: Allowance for loan losses						47,714
Net loans					$	2,861,095

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

* 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 non-accrual loans by loan class:

	June 30, 2014
(dollars in thousands)	New York and
	other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	5,010		517		5,527
Other		122		-		122
Real estate mortgage - 1 to 4 family:
First mortgages		26,886		3,140		30,026
Home equity loans		517		-		517
Home equity lines of credit		4,030		438		4,468
Installment		87		1		88
Total non-accrual loans		36,652		4,096		40,748
Restructured real estate mortgages - 1 to 4 family		159		-		159
Total nonperforming loans	$	36,811		4,096		40,907
	December 31, 2013
(dollars in thousands)	New York and
	other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	6,620		-		6,620
Other		332		-		332
Real estate mortgage - 1 to 4 family:
First mortgages		26,713		4,781		31,494
Home equity loans		691		-		691
Home equity lines of credit		3,641		356		3,997
Installment		93		-		93
Total non-accrual loans		38,090		5,137		43,227
Restructured real estate mortgages - 1 to 4 family		166		-		166
Total nonperforming loans	$	38,256		5,137		43,393

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 as of June 30, 2014 and December 31, 2013:

New York and other states*:

	June 30, 2014
(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	$	54		-		3,493			3,547		164,268		167,815
Other		-		-		122			122		32,742		32,864
Real estate mortgage - 1 to 4 family:
First mortgages		3,515		1,620		20,018			25,153		1,935,515		1,960,668
Home equity loans		57		56		452			565		49,130		49,695
Home equity lines of credit		619		334		2,364			3,317		297,919		301,236
Installment		75		38		74			187		5,279		5,466
Total	$	4,320		2,048		26,523			32,891		2,484,853		2,517,744

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	$	-		-		-			-		21,908		21,908
Other		-		-		-			-		68		68
Real estate mortgage - 1 to 4 family:
First mortgages		726		-		2,504			3,230		419,334		422,564
Home equity loans		-		-		-			-		4,573		4,573
Home equity lines of credit		34		-		28			62		38,599		38,661
Installment		14		-		-			14		618		632
Total	$	774		-		2,532			3,306		485,100		488,406

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	$	54		-		3,493			3,547		186,176		189,723
Other		-		-		122			122		32,810		32,932
Real estate mortgage - 1 to 4 family:
First mortgages		4,241		1,620		22,522			28,383		2,354,849		2,383,232
Home equity loans		57		56		452			565		53,703		54,268
Home equity lines of credit		653		334		2,392			3,379		336,518		339,897
Installment		89		38		74			201		5,897		6,098
Total	$	5,094		2,048		29,055			36,197		2,969,953		3,006,150

New York and other states*:

	December 31, 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	$	583		1,426		3,379			5,388		164,334		169,722
Other		209		-		123			332		31,991		32,323
Real estate mortgage - 1 to 4 family:
First mortgages		4,664		2,042		17,624			24,330		1,885,117		1,909,447
Home equity loans		46		18		552			616		46,878		47,494
Home equity lines of credit		1,014		331		1,897			3,242		300,802		304,044
Installment		85		12		77			174		5,118		5,292
Total	$	6,601		3,829		23,652			34,082		2,434,240		2,468,322

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	$	-		-		-			-		21,404		21,404
Other		-		-		-			-		32		32
Real estate mortgage - 1 to 4 family:
First mortgages		552		-		4,229			4,781		373,580		378,361
Home equity loans		-		-		-			-		3,642		3,642
Home equity lines of credit		109		-		247			356		36,089		36,445
Installment		-		2		-			2		601		603
Total	$	661		2		4,476			5,139		435,348		440,487

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	$	583		1,426		3,379			5,388		185,738		191,126
Other		209		-		123			332		32,023		32,355
Real estate mortgage - 1 to 4 family:
First mortgages		5,216		2,042		21,853			29,111		2,258,697		2,287,808
Home equity loans		46		18		552			616		50,520		51,136
Home equity lines of credit		1,123		331		2,144			3,598		336,891		340,489
Installment		85		14		77			176		5,719		5,895
Total	$	7,262		3,831		28,128			39,221		2,869,588		2,908,809

Transactions in the allowance for loan losses by portfolio segment

Activity in the allowance for loan losses by portfolio segment is summarized as follows:

(dollars in thousands)	For the three months ended June 30, 2014
				Real Estate
				Mortgage-
	Commercial			1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,840			43,091		104		47,035
Loans charged off:
New York and other states		13			1,691		32		1,736
Florida		-			75		10		85
Total loan chargeoffs		13			1,766		42		1,821
Recoveries of loans previously charged off:
New York and other states		-			195		8		203
Florida		2			16		-		18
Total recoveries		2			211		8		221
Net loans charged off		11			1,555		34		1,600
Provision for loan losses		244			1,216		40		1,500
Balance at end of period	$	4,073			42,752		110		46,935
(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 (credit) 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 six months ended June 30, 2014
				Real Estate
				Mortgage-
	Commercial			1 to 4 Family		Installment		Total
Balance at beginning of period	$	4,019			43,597		98		47,714
Loans charged off:
New York and other states		273			2,617		81		2,971
Florida		613			542		12		1,167
Total loan chargeoffs		886			3,159		93		4,138
Recoveries of loans previously charged off:
New York and other states		18			270		13		301
Florida		3			55		-		58
Total recoveries		21			325		13		359
Net loans charged off		865			2,834		80		3,779
Provision for loan losses		919			1,989		92		3,000
Balance at end of period	$	4,073			42,752		110		46,935
(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

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 as of June 30, 2014 and December 31, 2013:

	June 30, 2014
(dollars in thousands)			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		4,073		42,752		110		46,935
Total ending allowance balance	$	4,073		42,752		110		46,935
Loans:
Individually evaluated for impairment	$	5,949		21,405		-		27,354
Collectively evaluated for impairment		216,706		2,755,992		6,098		2,978,796
Total ending loans balance	$	222,655		2,777,397		6,098		3,006,150
	December 31, 2013
(dollars in thousands)			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		4,019		43,597		98		47,714
Total ending allowance balance	$	4,019		43,597		98		47,714
Loans:
Individually evaluated for impairment	$	8,082		21,258		-		29,340
Collectively evaluated for impairment		215,399		2,658,175		5,895		2,879,469
Total ending loans balance	$	223,481		2,679,433		5,895		2,908,809

Impaired loans by loan class

The following tables present impaired loans by loan class as of June 30, 2014 and December 31, 2013:

	June 30, 2014
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	5,310		6,792		-		5,152
Other		122		122		-		122
Real estate mortgage - 1 to 4 family:
First mortgages		16,469		17,463		-		16,872
Home equity loans		438		482		-		492
Home equity lines of credit		2,662		3,036		-		2,583
Total	$	25,001		27,895		-		25,221
Florida:
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	517		1,130		-		721
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,224		1,408		-		1,533
Home equity loans		-		-		-		-
Home equity lines of credit		612		684		-		538
Total	$	2,353		3,222		-		2,792
Total:
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	5,827		7,922		-		5,873
Other		122		122		-		122
Real estate mortgage - 1 to 4 family:
First mortgages		17,693		18,871		-		18,405
Home equity loans		438		482		-		492
Home equity lines of credit		3,274		3,720		-		3,121
Total	$	27,354		31,117		-		28,013

	December 31, 2013
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	6,620		8,039		-		6,013
Other		332		332		-		165
Real estate mortgage - 1 to 4 family:
First mortgages		16,257		17,353		-		14,706
Home equity loans		561		614		-		636
Home equity lines of credit		2,528		2,825		-		2,051
Total	$	26,298		29,163		-		23,571
Florida:
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	1,130		1,130		-		1,401
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,630		1,922		-		1,611
Home equity lines of credit		282		380		-		100
Total	$	3,042		3,432		-		3,112
Total:
(dollars in thousands)			Unpaid				Average
	Recorded		Principal		Related		Recorded
	Investment		Balance		Allowance		Investment
Commercial:
Commercial real estate	$	7,750		9,169		-		7,414
Other		332		332		-		165
Real estate mortgage - 1 to 4 family:
First mortgages		17,887		19,275		-		16,317
Home equity loans		561		614		-		636
Home equity lines of credit		2,810		3,205		-		2,151
Total	$	29,340		32,595		-		26,683

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

The following table presents, by class, loans that were modified as TDR’s:

	During the three months ended 6/30/2014						During the three months ended 6/30/2013
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		1	$	300		300		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		12		1,611		1,611		14		2,014		2,014
Home equity loans		1		47		47		4		87		87
Home equity lines of credit		2		443		443		2		87		87
Total		16	$	2,401		2,401		20	$	2,188		2,188
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		192		192		2		290		290
Home equity lines of credit		-		-		-		1		31		31
Total		2	$	192		192		3	$	321		321

	During six months ended 6/30/2014						During the six months ended 6/30/2013
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		1	$	300		300		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		20		2,985		2,985		26		3,480		3,480
Home equity loans		2		51		51		7		148		148
Home equity lines of credit		3		565		565		7		221		221
Total		26	$	3,901		3,901		40	$	3,849		3,849
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		364		364		5		677		677
Home equity lines of credit		2		354		354		1		31		31
Total		6	$	718		718		6	$	708		708

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

The following table presents, by class, TDR’s that defaulted during the three and six months ended June 30, 2014 and 2013 which had been modified within the last twelve months:

New York and other states:

	Three months ended 6/30/2014				Three months ended 6/30/2013
	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		2		161		3		302
Home equity loans		-		-		1		44
Home equity lines of credit		-		-		1		57
Total		2	$	161		5	$	403

	Six months ended 6/30/2014				Six months ended 6/30/2013
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		4		308		21		2,634
Home equity loans		-		-		3		78
Home equity lines of credit		-		-		9		532
Total		4	$	308		33	$	3,244

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
Home equity lines of credit		1		279		-		-
Total		1	$	279		3	$	375

Risk category of loans by class of loans

As of June 30, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	June 30, 2014
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	159,539		8,276		167,815
Other		32,258		606		32,864
	$	191,797		8,882		200,679
Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	21,391		517		21,908
Other		68		-		68
	$	21,459		517		21,976

	December 31, 2013
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	159,024		10,698		169,722
Other		31,691		632		32,323
	$	190,715		11,330		202,045
Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	20,274		1,130		21,404
Other		32		-		32
	$	20,306		1,130		21,436