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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Residential mortgage loans $ 51,375 $ 62,294 $ 105,337 $ 127,248
Multi-family and commercial real estate mortgage loans 48,611 43,347 96,103 86,737
Consumer and other loans 2,242 2,085 4,432 4,171
Mortgage-backed and other securities 15,238 14,116 30,308 27,793
Interest-earning cash accounts 107 80 196 149
Federal Home Loan Bank of New York stock 1,461 1,458 2,983 3,291
Total interest income 119,034 123,380 239,359 249,389
Interest expense:        
Deposits 9,944 12,823 20,673 26,052
Borrowings 23,940 24,783 47,815 49,593
Total interest expense 33,884 37,606 68,488 75,645
Net interest income 85,150 85,774 170,871 173,744
Provision for loan losses credited to operations (2,967) (5,742) (3,310) (4,111)
Net interest income after provision for loan losses 88,117 91,516 174,181 177,855
Non-interest income:        
Customer service fees 8,871 9,030 17,082 18,050
Other loan fees 553 647 1,106 1,255
Available-for-sale securities, gross realized gains 72   72  
Mortgage banking income, net 2,076 610 2,403 1,410
Income from bank owned life insurance 2,179 2,139 4,376 4,128
Other 1,591 1,419 3,236 2,671
Total non-interest income 15,342 13,845 28,275 27,514
General and administrative:        
Compensation and benefits 37,655 34,415 73,936 67,803
Occupancy, equipment and systems 18,980 17,793 38,638 35,967
Federal deposit insurance premium 4,335 7,277 8,536 15,846
Advertising 2,801 2,438 5,065 4,150
Other 8,105 9,670 15,813 18,050
Total non-interest expense 71,876 71,593 141,988 141,816
Income before income tax expense 31,583 33,768 60,468 63,553
Income tax expense 152 11,468 9,730 9,704
Net income 31,431 22,300 50,738 53,849
Preferred stock dividends 2,194 2,194 4,388 4,388
Net income available to common shareholders $ 29,237 $ 20,106 $ 46,350 $ 49,461
Basic earnings per common share (in dollars per share) $ 0.29 $ 0.20 $ 0.46 $ 0.50
Diluted earnings per common share (in dollars per share) $ 0.29 $ 0.20 $ 0.46 $ 0.50
Basic weighted average common shares outstanding (in shares) 99,664,442 98,275,886 99,459,376 98,191,434
Diluted weighted average common shares outstanding (in shares) 99,664,442 98,275,886 99,459,376 98,191,434