Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2020

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:

	September 30, 2020
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	152,994		18,579		171,573
Other		59,886		204		60,090
Real estate mortgage - 1 to 4 family:
First mortgages		2,580,577		1,065,903		3,646,480
Home equity loans		62,595		15,671		78,266
Home equity lines of credit		200,605		47,715		248,320
Installment		7,997		1,829		9,826
Total loans, net	$	3,064,654	$	1,149,901		4,214,555
Less: Allowance for loan losses						49,123
Net loans					$	4,165,432

	December 31, 2019
(dollars in thousands)	New York and other states*		Florida		Total
Commercial:
Commercial real estate	$	162,186		17,752		179,938
Other		19,326		235		19,561
Real estate mortgage - 1 to 4 family:
First mortgages		2,541,440		953,995		3,495,435
Home equity loans		69,791		18,548		88,339
Home equity lines of credit		221,487		46,435		267,922
Installment		8,706		2,295		11,001
Total loans, net	$	3,022,936		1,039,260		4,062,196
Less: Allowance for loan losses						44,317
Net loans					$	4,017,879

* 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:

	September 30, 2020
(dollars in thousands)	New York and other states*		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	378		-		378
Other		113		-		113
Real estate mortgage - 1 to 4 family:
First mortgages		17,193		1,075		18,268
Home equity loans		90		47		137
Home equity lines of credit		2,694		132		2,826
Installment		49		-		49
Total non-accrual loans		20,517		1,254		21,771
Restructured real estate mortgages - 1 to 4 family		25		-		25
Total nonperforming loans	$	20,542		1,254		21,796

	December 31, 2019
(dollars in thousands)	New York and other states*		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	733		-		733
Other		83		-		83
Real estate mortgage - 1 to 4 family:
First mortgages		15,385		1,468		16,853
Home equity loans		218		48		266
Home equity lines of credit		2,804		98		2,902
Installment		3		-		3
Total non-accrual loans		19,226		1,614		20,840
Restructured real estate mortgages - 1 to 4 family		29		-		29
Total nonperforming loans	$	19,255		1,614		20,869

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

Aging of 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 September 30, 2020 and December 31, 2019:

	September 30, 2020
New York and other states*:
(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	$	-		-		279		279		152,715		152,994
Other		-		-		113		113		59,773		59,886
Real estate mortgage - 1 to 4 family:
First mortgages		3,842		738		12,183		16,763		2,563,814		2,580,577
Home equity loans		147		4		49		200		62,395		62,595
Home equity lines of credit		722		33		1,236		1,991		198,614		200,605
Installment		46		15		49		110		7,887		7,997
Total	$	4,757		790		13,909		19,456		3,045,198		3,064,654

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	$	-		-		-		-		18,579		18,579
Other		-		-		-		-		204		204
Real estate mortgage - 1 to 4 family:
First mortgages		636		-		718		1,354		1,064,549		1,065,903
Home equity loans		-		47		-		47		15,624		15,671
Home equity lines of credit		-		-		-		-		47,715		47,715
Installment		16		8		-		24		1,805		1,829
Total	$	652		55		718		1,425		1,148,476		1,149,901

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	$	-		-		279		279		171,294		171,573
Other		-		-		113		113		59,977		60,090
Real estate mortgage - 1 to 4 family:
First mortgages		4,478		738		12,901		18,117		3,628,363		3,646,480
Home equity loans		147		51		49		247		78,019		78,266
Home equity lines of credit		722		33		1,236		1,991		246,329		248,320
Installment		62		23		49		134		9,692		9,826
Total	$	5,409		845		14,627		20,881		4,193,674		4,214,555

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

	December 31, 2019
New York and other states*:
(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	$	141		-		617		758		161,428		162,186
Other		80		-		33		113		19,213		19,326
Real estate mortgage - 1 to 4 family:
First mortgages		3,444		292		11,328		15,064		2,526,376		2,541,440
Home equity loans		183		7		133		323		69,468		69,791
Home equity lines of credit		232		149		1,141		1,522		219,965		221,487
Installment		37		8		3		48		8,658		8,706
Total	$	4,117		456		13,255		17,828		3,005,108		3,022,936

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	$	-		-		-		-		17,752		17,752
Other		-		-		-		-		235		235
Real estate mortgage - 1 to 4 family:
First mortgages		542		-		617		1,159		952,836		953,995
Home equity loans		63		-		-		63		18,485		18,548
Home equity lines of credit		80		-		50		130		46,305		46,435
Installment		-		-		-		-		2,295		2,295
Total	$	685		-		667		1,352		1,037,908		1,039,260

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	$	141		-		617		758		179,180		179,938
Other		80		-		33		113		19,448		19,561
Real estate mortgage - 1 to 4 family:
First mortgages		3,986		292		11,945		16,223		3,479,212		3,495,435
Home equity loans		246		7		133		386		87,953		88,339
Home equity lines of credit		312		149		1,191		1,652		266,270		267,922
Installment		37		8		3		48		10,953		11,001
Total	$	4,802		456		13,922		19,180		4,043,016		4,062,196

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

Activity in Allowance For Loan Losses by Portfolio Segment

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

	For the three months ended September 30, 2020
(dollars in thousands)	Commercial			Real Estate Mortgage- 1 to 4 Family		Installment		Total
Balance at beginning of period	$	4,366			43,274		504		48,144
Loans charged off:
New York and other states*		-			64		21		85
Florida		-			-		-		-
Total loan chargeoffs		-			64		21		85
Recoveries of loans previously charged off:
New York and other states*		1			60		3		64
Florida		-			-		-		-
Total recoveries		1			60		3		64
Net loans (recoveries) charged off		(1	)		4		18		21
(Credit) provision for loan losses		(100	)		1,053		47		1,000
Balance at end of period	$	4,267			44,323		533		49,123

	For the three months ended September 30, 2019
(dollars in thousands)	Commercial			Real Estate Mortgage- 1 to 4 Family			Installment		Total
Balance at beginning of period	$	3,913			39,963			489		44,365
Loans charged off:
New York and other states*		13			147			16		176
Florida		-			-			16		16
Total loan chargeoffs		13			147			32		192
Recoveries of loans previously charged off:
New York and other states*		41			108			7		156
Florida		-			-			-		-
Total recoveries		41			108			7		156
Net loans (recoveries) charged off		(28	)		39			25		36
(Credit) provision for loan losses		(70	)		(18	)		88		-
Balance at end of period	$	3,871			39,906			552		44,329

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

	Nine months ended September 30, 2020
	Commercial			Real Estate Mortgage- 1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,999			39,748		570		44,317
Loans charged off:
New York and other states*		3			277		77		357
Florida		-			-		19		19
Total loan chargeoffs		3			277		96		376
Recoveries of loans previously charged off:
New York and other states*		9			160		11		180
Florida		-			2		-		2
Total recoveries		9			162		11		182
Net loans charged off (recoveries)		(6	)		115		85		194
Provision for loan losses		262			4,690		48		5,000
Balance at end of period	$	4,267			44,323		533		49,123

	Nine months ended September 30, 2019
	Commercial			Real Estate Mortgage- 1 to 4 Family		Installment			Total
Balance at beginning of period	$	4,048			39,772		946			44,766
Loans charged off:
New York and other states*		20			744		94			858
Florida		-			29		47			76
Total loan chargeoffs		20			773		141			934
Recoveries of loans previously charged off:
New York and other states*		45			441		17			503
Florida		-			35		-			35
Total recoveries		45			476		17			538
Net loans charged off		(25	)		297		124			396
(Credit) provision for loan losses		(202	)		431		(270	)		(41	)
Balance at end of period	$	3,871		$	39,906		552			44,329

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

Allowance For Loan Losses and 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 September 30, 2020 and December 31, 2019:

	September 30, 2020
(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		4,267		44,323		533		49,123
Total ending allowance balance	$	4,267		44,323		533		49,123
Loans:
Individually evaluated for impairment	$	1,084		20,648		-		21,732
Collectively evaluated for impairment		230,579		3,952,418		9,826		4,192,823
Total ending loans balance	$	231,663		3,973,066		9,826		4,214,555

	December 31, 2019
(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		3,999		39,748		570		44,317
Total ending allowance balance	$	3,999		39,748		570		44,317
Loans:
Individually evaluated for impairment	$	1,437		19,539		-		20,976
Collectively evaluated for impairment		198,062		3,832,157		11,001		4,041,220
Total ending loans balance	$	199,499		3,851,696		11,001		4,062,196

Impaired Loans by Loan Class

The following tables present impaired loans by loan class as of September 30, 2020 and December 31, 2019:

	September 30, 2020
New York and other states*:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	839		1,062		-		1,121
Other		145		145		-		112
Real estate mortgage - 1 to 4 family:
First mortgages		14,895		15,282		-		14,062
Home equity loans		223		243		-		235
Home equity lines of credit		2,268		2,408		-		2,249
Total	$	18,370		19,140		-		17,779

Florida:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	100				-		105
Other		-				-		-
Real estate mortgage - 1 to 4 family:
First mortgages		3,018		3,018		-		2,567
Home equity loans		-		-		-		13
Home equity lines of credit		244		244		-		245
Total	$	3,362		3,262		-		2,930

Total:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	939		1,062		-		1,226
Other		145		145		-		112
Real estate mortgage - 1 to 4 family:
First mortgages		17,913		18,300		-		16,629
Home equity loans		223		243		-		248
Home equity lines of credit		2,512		2,652		-		2,494
Total	$	21,732		22,402		-		20,709

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

	December 31, 2019
New York and other states*:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	1,217		1,359		-		1,385
Other		115		115		-		38
Real estate mortgage - 1 to 4 family:
First mortgages		14,414		14,714		-		14,358
Home equity loans		235		255		-		241
Home equity lines of credit		2,160		2,300		-		2,274
Total	$	18,141		18,743		-		18,296

Florida:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	105		105		-		82
Other		-		-		-		26
Real estate mortgage - 1 to 4 family:
First mortgages		2,486		2,486		-		2,259
Home equity loans		-		-		-		51
Home equity lines of credit		244		244		-		249
Total	$	2,835		2,835		-		2,667

Total:
(dollars in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
Commercial:
Commercial real estate	$	1,322		1,464		-		1,467
Other		115		115		-		64
Real estate mortgage - 1 to 4 family:
First mortgages		16,900		17,200		-		16,617
Home equity loans		235		255		-		292
Home equity lines of credit		2,404		2,544		-		2,523
Total	$	20,976		21,578		-		20,963

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

Modified Loans by Class that were Determined to be TDR's

The following tables present, by class, loans that were modified as TDR’s:

	Three months ended 9/30/2020						Three months ended 9/30/2019
New York and other states*:	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
(dollars in thousands)
Commercial:
Commercial real estate		1	$	126		126		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		6		1,533		1,533		4		537		537
Home equity loans		-		-		-		-		-		-
Home equity lines of credit		1		50		50		-		-		-
Total		8	$	1,709		1,709		4	$	537		537

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
Commercial:
Commercial real estate		-	$	-		-		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		-		-		-		5		509		509
Home equity loans		-		-		-		-		-		-
Home equity lines of credit		-		-		-		-		-		-
Total		-	$	-		-		5	$	509		509

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

	Nine months ended 9/30/2020						Nine months ended 9/30/2019
New York and other states*:	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
(dollars in thousands)
Commercial:
Commercial real estate		1	$	126		126		1	$	127		127
Real estate mortgage - 1 to 4 family:
First mortgages		9		1,982		1,982		12		1,768		1,768
Home equity loans		-		-		-		-		-		-
Home equity lines of credit		3		169		169		2		235		235
Total		13	$	2,277		2,277		15	$	2,130		2,130

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
Commercial:
Commercial real estate		-	$	-		-		-	$	-		-
Real estate mortgage - 1 to 4 family:
First mortgages		4		589		589		5		509		509
Home equity loans		-		-		-		-		-		-
Home equity lines of credit		-		-		-		-		-		-
Total		4	$	589		589		5	$	509		509

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

Loans by Class Modified as TDR's for which there was a Payment Default

The following tables present, by class, TDR’s that defaulted during the three and nine months ended September 30, 2020 and 2019 which had been modified within the last twelve months:

	Three months ended 9/30/2020				Three months ended 9/30/2019
New York and other states*:	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
(dollars in thousands)
Commercial:
Commercial real estate		-	$	-		-	$	-
Real estate mortgage - 1 to 4 family:
First mortgages		3		264		-		-
Home equity lines of credit		1		19		-		-
Total		4	$	283		-	$	-

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

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

	Nine months ended 9/30/2020				Nine months ended 9/30/2019
New York and other states*:	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
(dollars in thousands)
Commercial:
Commercial real estate		-	$	-		-	$	-
Real estate mortgage - 1 to 4 family:
First mortgages		4		459		-		-
Home equity loans		-		-		-		-
Home equity lines of credit		1		19		-		-
Total		5	$	478		-	$	-

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

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

Risk Category Loans by Class of Loans

As of September 30, 2020 and December 31, 2019, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

	September 30, 2020
New York and other states*:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	149,866		3,128		152,994
Other		59,404		482		59,886
	$	209,270		3,610		212,880

Florida:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	18,005		574		18,579
Other		204		-		204
	$	18,209		574		18,783

Total:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	167,871		3,702		171,573
Other		59,608		482		60,090
	$	227,479		4,184		231,663

* Includes New York, New Jersey and Massachusetts.

	December 31, 2019
New York and other states:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	157,280		4,906		162,186
Other		18,384		942		19,326
	$	175,664		5,848		181,512

Florida:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	17,752		-		17,752
Other		235		-		235
	$	17,987		-		17,987

Total:
(dollars in thousands)	Pass		Classified		Total
Commercial:
Commercial real estate	$	175,032		4,906		179,938
Other		18,619		942		19,561
	$	193,651		5,848		199,499

* Includes New York, New Jersey and Massachusetts.