Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2015

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:

	March 31, 2015
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	171,178		15,968		187,146
Other		24,950		49		24,999
Real estate mortgage - 1 to 4 family:
First mortgages		2,061,142		500,633		2,561,775
Home equity loans		51,853		7,297		59,150
Home equity lines of credit		306,196		46,356		352,552
Installment		7,231		772		8,003
Total loans, net	$	2,622,550		571,075		3,193,625
Less: Allowance for loan losses						45,944
Net loans					$	3,147,681

	December 31, 2014
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	174,788		19,336		194,124
Other		29,200		58		29,258
Real estate mortgage - 1 to 4 family:
First mortgages		2,041,140		476,427		2,517,567
Home equity loans		51,713		5,942		57,655
Home equity lines of credit		308,764		43,370		352,134
Installment		6,774		820		7,594
Total loans, net	$	2,612,379		545,953		3,158,332
Less: Allowance for loan losses						46,327
Net loans					$	3,112,005

* 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:

	March 31, 2015
(dollars in thousands)	New York and other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	2,489		-		2,489
Real estate mortgage - 1 to 4 family:
First mortgages		24,704		2,287		26,991
Home equity loans		296		-		296
Home equity lines of credit		3,215		321		3,536
Installment		77		20		97
Total non-accrual loans		30,781		2,628		33,409
Restructured real estate mortgages - 1 to 4 family		75		-		75
Total nonperforming loans	$	30,856		2,628		33,484

	December 31, 2014
(dollars in thousands)	New York and other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	3,835		-		3,835
Other		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		23,643		2,488		26,131
Home equity loans		349		-		349
Home equity lines of credit		3,229		252		3,481
Installment		77		13		90
Total non-accrual loans		31,133		2,753		33,886
Restructured real estate mortgages - 1 to 4 family		125		-		125
Total nonperforming loans	$	31,258		2,753		34,011

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 March 31, 2015 and December 31, 2014:

New York and other states:

	March 31, 2015
(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 + Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	886		527		1,231		2,644		168,534		171,178
Other		-		-		-		-		24,950		24,950
Real estate mortgage - 1 to 4 family:
First mortgages		4,094		2,260		17,216		23,570		2,037,572		2,061,142
Home equity loans		152		-		272		424		51,429		51,853
Home equity lines of credit		550		641		1,118		2,309		303,887		306,196
Installment		31		91		49		171		7,060		7,231
Total	$	5,713		3,519		19,886		29,118		2,593,432		2,622,550

Florida:

(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 + Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	-		-		-		-		15,968		15,968
Other		-		-		-		-		49		49
Real estate mortgage - 1 to 4 family:
First mortgages		744		82		849		1,675		498,958		500,633
Home equity loans		-		-		-		-		7,297		7,297
Home equity lines of credit		35		-		100		135		46,221		46,356
Installment		2		-		-		2		770		772
Total	$	781		82		949		1,812		569,263		571,075

Total:

(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	886		527		1,231		2,644		184,502		187,146
Other		-		-		-		-		24,999		24,999
Real estate mortgage - 1 to 4 family:
First mortgages		4,838		2,342		18,065		25,245		2,536,530		2,561,775
Home equity loans		152		-		272		424		58,726		59,150
Home equity lines of credit		585		641		1,218		2,444		350,108		352,552
Installment		33		91		49		173		7,830		8,003
Total	$	6,494		3,601		20,835		30,930		3,162,695		3,193,625

New York and other states:

	December 31, 2014
(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 + Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	618		52		2,627		3,297		171,491		174,788
Other		-		-		-		-		29,200		29,200
Real estate mortgage - 1 to 4 family:
First mortgages		3,340		3,874		16,782		23,996		2,017,144		2,041,140
Home equity loans		141		59		337		537		51,176		51,713
Home equity lines of credit		568		342		1,198		2,108		306,656		308,764
Installment		79		10		58		147		6,627		6,774
Total	$	4,746		4,337		21,002		30,085		2,582,294		2,612,379

Florida:

(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 + Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	-		-		-		-		19,336		19,336
Other		-		-		-		-		58		58
Real estate mortgage - 1 to 4 family:
First mortgages		801		283		1,225		2,309		474,118		476,427
Home equity loans		-		-		-		-		5,942		5,942
Home equity lines of credit		173		-		116		289		43,081		43,370
Installment		17		-		-		17		803		820
Total	$	991		283		1,341		2,615		543,338		545,953

Total:

(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 + Days Past Due		Total 30+ days Past Due		Current		Total Loans
Commercial:
Commercial real estate	$	618		52		2,627		3,297		190,827		194,124
Other		-		-		-		-		29,258		29,258
Real estate mortgage - 1 to 4 family:
First mortgages		4,141		4,157		18,007		26,305		2,491,262		2,517,567
Home equity loans		141		59		337		537		57,118		57,655
Home equity lines of credit		741		342		1,314		2,397		349,737		352,134
Installment		96		10		58		164		7,430		7,594
Total	$	5,737		4,620		22,343		32,700		3,125,632		3,158,332

Activity 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 March 31, 2015
	Commercial			Real Estate Mortgage- 1 to 4 Family		Installment		Total
Balance at beginning of period	$	4,071			42,088		168		46,327
Loans charged off:
New York and other states*		50			1,114		43		1,207
Florida		-			109		-		109
Total loan chargeoffs		50			1,223		43		1,316
Recoveries of loans previously charged off:
New York and other states*		16			110		6		132
Florida		1			-		-		1
Total recoveries		17			110		6		133
Net loans charged off		33			1,113		37		1,183
Provision (credit) for loan losses		(14	)		554		260		800
Balance at end of period	$	4,024			41,529		391		45,944

(dollars in thousands)	For the three months ended March 31, 2014
	Commercial		Real Estate Mortgage- 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*		260		925		49		1,234
Florida		613		467		2		1,082
Total loan chargeoffs		873		1,392		51		2,316
Recoveries of loans previously charged off:
New York and other states*		18		74		5		97
Florida		1		39		-		40
Total recoveries		19		113		5		137
Net loans charged off		854		1,279		46		2,179
Provision for loan losses		675		773		52		1,500
Balance at end of period	$	3,840		43,091		104		47,035

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 March 31, 2015 and December 31, 2014:

	March 31, 2015
(dollars in thousands)	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		4,024		41,529		391		45,944
Total ending allowance balance	$	4,024		41,529		391		45,944
Loans:
Individually evaluated for impairment	$	2,780		22,944		-		25,724
Collectively evaluated for impairment		209,365		2,950,533		8,003		3,167,901
Total ending loans balance	$	212,145		2,973,477		8,003		3,193,625

	December 31, 2014
(dollars in thousands)	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		4,071		42,088		168		46,327
Total ending allowance balance	$	4,071		42,088		168		46,327
Loans:
Individually evaluated for impairment	$	4,129		22,406		-		26,535
Collectively evaluated for impairment		219,253		2,904,950		7,594		3,131,797
Total ending loans balance	$	223,382		2,927,356		7,594		3,158,332

Impaired loans by loan class

The following tables present impaired loans by loan class as of March 31, 2015 and December 31, 2014:

New York and other states:

	March 31, 2015
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,780		2,928		-		3,611
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		18,238		19,435		-		18,276
Home equity loans		338		381		-		347
Home equity lines of credit		2,280		2,520		-		2,415
Total	$	23,636		25,264		-		24,649

Florida:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	-		-		-		-
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,377		1,476		-		1,420
Home equity loans		55		55		-		55
Home equity lines of credit		656		740		-		667
Total	$	2,088		2,271		-		2,142

Total:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,780		2,928		-		3,611
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		19,615		20,911		-		19,696
Home equity loans		393		436		-		402
Home equity lines of credit		2,936		3,260		-		3,082
Total	$	25,724		27,535		-		26,791

New York and other states:

	December 31, 2014
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	4,129		5,499		-		4,798
Other		-		-		-		61
Real estate mortgage - 1 to 4 family:
First mortgages		17,579		18,689		-		17,261
Home equity loans		366		410		-		454
Home equity lines of credit		2,492		2,778		-		2,578
Total	$	24,566		27,376		-		25,152

Florida:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	-		-		-		577
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,289		1,380		-		1,422
Home equity loans		56		56		-		5
Home equity lines of credit		624		773		-		581
Total	$	1,969		2,209		-		2,585

Total:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	4,129		5,499		-		5,375
Other		-		-		-		61
Real estate mortgage - 1 to 4 family:
First mortgages		18,868		20,069		-		18,683
Home equity loans		422		466		-		459
Home equity lines of credit		3,116		3,551		-		3,159
Total	$	26,535		29,585		-		27,737

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

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

	Three months ended 3/31/2015						Three months ended 3/31/2014
New York and other states*: (dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Real estate mortgage - 1 to 4 family:
First mortgages		11	$	2,240	$	2,240		8	$	1,378	$	1,378
Home equity loans		1		10		10		1		4		4
Home equity lines of credit		1		50		50		1		122		122
Total		13	$	2,300	$	2,300		10	$	1,504	$	1,504
Florida: (dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Real estate mortgage - 1 to 4 family:
First mortgages		1	$	157	$	157		2	$	173	$	173
Home equity lines of credit		2		50		50		2		354		354
Total		3	$	207	$	207		4	$	527	$	527

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 months ended March 31, 2015 and 2014 which had been modified within the last twelve months:

	Three months ended 3/31/2015				Three months ended 3/31/2014
New York and other states*: (dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Real estate mortgage - 1 to 4 family:
First mortgages		-	$	-		4	$	245
Total		-	$	-		4	$	245
Florida:
(dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Real estate mortgage - 1 to 4 family:
Home equity lines of credit		1	$	50		1	$	280
Total		1	$	50		1	$	280

Risk category of loans by class of loans

As of March 31, 2015 and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	March 31, 2015
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	160,448		10,730		171,178
Other		24,283		667		24,950
	$	184,731		11,397		196,128
Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	15,968		-		15,968
Other		49		-		49
	$	16,017		-		16,017
Total:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	176,416		10,730		187,146
Other		24,332		667		24,999
	$	200,748		11,397		212,145
	December 31, 2014
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	162,589		12,199		174,788
Other		28,677		523		29,200
	$	191,266		12,722		203,988
Florida:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	19,336		-		19,336
Other		58		-		58
	$	19,394		-		19,394
Total:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	181,925		12,199		194,124
Other		28,735		523		29,258
	$	210,660		12,722		223,382