Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2017

Loans and Allowance for Loan Losses [Abstract]

Recorded investment in loans by loan class

The following table presents the recorded investment in loans by loan class:

	March 31, 2017
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	150,683		11,375		162,058
Other		22,048		345		22,393
Real estate mortgage - 1 to 4 family:
First mortgages		2,167,971		688,426		2,856,397
Home equity loans		61,913		11,618		73,531
Home equity lines of credit		279,986		46,294		326,280
Installment		6,447		1,830		8,277
Total loans, net	$	2,689,048		759,888		3,448,936
Less: Allowance for loan losses						44,048
Net loans					$	3,404,888

	December 31, 2016
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	151,366		12,243		163,609
Other		27,539		46		27,585
Real estate mortgage - 1 to 4 family:
First mortgages		2,158,904		665,183		2,824,087
Home equity loans		60,892		10,754		71,646
Home equity lines of credit		286,586		48,255		334,841
Installment		7,048		1,770		8,818
Total loans, net	$	2,692,335		738,251		3,430,586
Less: Allowance for loan losses						43,890
Net loans					$	3,386,696

*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, 2017
(dollars in thousands)	New York and other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	1,758		-		1,758
Other		100		-		100
Real estate mortgage - 1 to 4 family:
First mortgages		19,445		1,440		20,885
Home equity loans		46		-		46
Home equity lines of credit		3,281		272		3,553
Installment		41		-		41
Total non-accrual loans		24,671		1,712		26,383
Restructured real estate mortgages - 1 to 4 family		41		-		41
Total nonperforming loans	$	24,712		1,712		26,424

	December 31, 2016
(dollars in thousands)	New York and other states		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	1,843		-		1,843
Other		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		17,727		1,659		19,386
Home equity loans		95		-		95
Home equity lines of credit		3,376		270		3,646
Installment		48		-		48
Total non-accrual loans		23,089		1,929		25,018
Restructured real estate mortgages - 1 to 4 family		42		-		42
Total nonperforming loans	$	23,131		1,929		25,060

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, 2017 and December 31, 2016 :

New York and other states:

	March 31, 2017
(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	$	270		-		1,626		1,896		148,787		150,683
Other		-		-		100		100		21,948		22,048
Real estate mortgage - 1 to 4 family:
First mortgages		2,614		1,185		10,573		14,372		2,153,599		2,167,971
Home equity loans		5		3		22		30		61,883		61,913
Home equity lines of credit		402		179		1,684		2,265		277,721		279,986
Installment		20		8		22		50		6,397		6,447
Total	$	3,311		1,375		14,027		18,713		2,670,335		2,689,048

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	$	-		-		-		-		11,375		11,375
Other		-		-		-		-		345		345
Real estate mortgage - 1 to 4 family:
First mortgages		1,656		393		571		2,620		685,806		688,426
Home equity loans		-		10		-		10		11,608		11,618
Home equity lines of credit		50		20		90		160		46,134		46,294
Installment		12		7		-		19		1,811		1,830
Total	$	1,718		430		661		2,809		757,079		759,888

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	$	270		-		1,626		1,896		160,162		162,058
Other		-		-		100		100		22,293		22,393
Real estate mortgage - 1 to 4 family:
First mortgages		4,270		1,578		11,144		16,992		2,839,405		2,856,397
Home equity loans		5		13		22		40		73,491		73,531
Home equity lines of credit		452		199		1,774		2,425		323,855		326,280
Installment		32		15		22		69		8,208		8,277
Total	$	5,029		1,805		14,688		21,522		3,427,414		3,448,936

New York and other states:

	December 31, 2016
(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	$	50		43		1,706		1,799		149,567		151,366
Other		-		-		-		-		27,539		27,539
Real estate mortgage - 1 to 4 family:
First mortgages		6,379		2,924		9,643		18,946		2,139,958		2,158,904
Home equity loans		50		3		74		127		60,765		60,892
Home equity lines of credit		685		111		1,839		2,635		283,951		286,586
Installment		34		32		15		81		6,967		7,048
Total	$	7,198		3,113		13,277		23,588		2,668,747		2,692,335

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	$	-		-		-		-		12,243		12,243
Other		-		-		-		-		46		46
Real estate mortgage - 1 to 4 family:
First mortgages		1,942		69		1,255		3,266		661,917		665,183
Home equity loans		19		-		-		19		10,735		10,754
Home equity lines of credit		-		-		156		156		48,099		48,255
Installment		30		6		-		36		1,734		1,770
Total	$	1,991		75		1,411		3,477		734,774		738,251

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	$	50		43		1,706		1,799		161,810		163,609
Other		-		-		-		-		27,585		27,585
Real estate mortgage - 1 to 4 family:
First mortgages		8,321		2,993		10,898		22,212		2,801,875		2,824,087
Home equity loans		69		3		74		146		71,500		71,646
Home equity lines of credit		685		111		1,995		2,791		332,050		334,841
Installment		64		38		15		117		8,701		8,818
Total	$	9,189		3,188		14,688		27,065		3,403,521		3,430,586

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, 2017
	Commercial			Real Estate Mortgage- 1 to 4 Family		Installment			Total
Balance at beginning of period	$	4,929			38,231		730			43,890
Loans charged off:
New York and other states*		72			430		41			543
Florida		-			84		2			86
Total loan chargeoffs		72			514		43			629
Recoveries of loans previously charged off:
New York and other states*		8			169		10			187
Florida		-			-		-			-
Total recoveries		8			169		10			187
Net loans charged off		64			345		33			442
Provision for loan losses		(55	)		695		(40	)		600
Balance at end of period	$	4,810			38,581		657			44,048

(dollars in thousands)	For the three months ended March 31, 2016
	Commercial		Real Estate Mortgage- 1 to 4 Family		Installment		Total
Balance at beginning of period	$	4,491		39,753		518		44,762
Loans charged off:
New York and other states*		264		889		81		1,234
Florida		-		84		16		100
Total loan chargeoffs		264		973		97		1,334
Recoveries of loans previously charged off:
New York and other states*		40		118		11		169
Florida		-		1		-		1
Total recoveries		40		119		11		170
Net loans charged off		224		854		86		1,164
Provision for loan losses		652		118		30		800
Balance at end of period	$	4,919		39,017		462		44,398

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, 2017 and December 31, 2016:

	March 31, 2017
(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		4,810		38,581		657		44,048
Total ending allowance balance	$	4,810		38,581		657		44,048
Loans:
Individually evaluated for impairment	$	2,422		22,964		-		25,386
Collectively evaluated for impairment		182,029		3,233,244		8,277		3,423,550
Total ending loans balance	$	184,451		3,256,208		8,277		3,448,936

	December 31, 2016
(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		4,929		38,231		730		43,890
Total ending allowance balance	$	4,929		38,231		730		43,890
Loans:
Individually evaluated for impairment	$	2,418		21,607		-		24,025
Collectively evaluated for impairment		188,776		3,208,967		8,818		3,406,561
Total ending loans balance	$	191,194		3,230,574		8,818		3,430,586

Impaired loans by loan class

The following tables present impaired loans by loan class as of March 31, 2017 and December 31, 2016:

New York and other states:

	March 31, 2017
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,322		3,514		-		2,282
Other		100		100		-		100
Real estate mortgage - 1 to 4 family:
First mortgages		17,791		18,526		-		16,154
Home equity loans		275		311		-		269
Home equity lines of credit		2,139		2,301		-		2,039
Total	$	22,627		24,752		-		20,844

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		2,077		2,168		-		2,714
Home equity loans		93		93		-		94
Home equity lines of credit		589		661		-		579
Total	$	2,759		2,922		-		3,387

Total:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,322		3,514		-		2,282
Other		100		100		-		100
Real estate mortgage - 1 to 4 family:
First mortgages		19,868		20,694		-		18,868
Home equity loans		368		404		-		363
Home equity lines of credit		2,728		2,962		-		2,618
Total	$	25,386		27,674		-		24,231

New York and other states:

	December 31, 2016
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,418		3,470		-		2,214
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		16,675		17,439		-		15,665
Home equity loans		269		305		-		251
Home equity lines of credit		1,999		2,160		-		1,806
Total	$	21,361		23,374		-		19,936

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		2,009		2,100		-		1,800
Home equity loans		94		94		-		81
Home equity lines of credit		561		633		-		591
Total	$	2,664		2,827		-		2,472

Total:

(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	2,418		3,470		-		2,214
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		18,684		19,539		-		17,465
Home equity loans		363		399		-		332
Home equity lines of credit		2,560		2,793		-		2,397
Total	$	24,025		26,201		-		22,408

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 3/31/2017						Three months ended 3/31/2016
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	$	1,947	$	1,947		12	$	1,270	$	1,270
Home equity loans		1		13		13		-		-		-
Home equity lines of credit		4		158		158		4		103		103
Total		16	$	2,118	$	2,118		16	$	1,373	$	1,373

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	$	80	$	80		2	$	245	$	245
Home equity lines of credit		1		70		70		-		-		-
Total		2	$	150	$	150		2	$	245	$	245

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, 2017 and 2016 which had been modified within the last twelve months:

	Three months ended 3/31/2017				Three months ended 3/31/2016
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		-	$	-		2	$	101
Home equity lines of credit		-		-		1		48
Total		-	$	-		3	$	149

Florida:

(dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Real estate mortgage - 1 to 4 family:
First mortgages		1	$	80		-	$	-
Home equity lines of credit		1	$	70		-	$	-
Total		2	$	150		-	$	-

Risk category of loans by class of loans

As of March 31, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	March 31, 2017
New York and other states:
(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	137,482		13,201		150,683
Other		19,915		2,133		22,048
	$	157,397		15,334		172,731

Florida:

(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	11,375		-		11,375
Other		345		-		345
	$	11,720		-		11,720

Total:

(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	148,857		13,201		162,058
Other		20,260		2,133		22,393
	$	169,117		15,334		184,451

	December 31, 2016
New York and other states:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	136,676		14,690		151,366
Other		25,442		2,097		27,539
	$	162,118		16,787		178,905

Florida:

(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	12,243		-		12,243
Other		46		-		46
	$	12,289		-		12,289

Total:

(dollars in thousands)
	Pass		Classified		Total
Commercial:
Commercial real estate	$	148,919		14,690		163,609
Other		25,488		2,097		27,585
	$	174,407		16,787		191,194