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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Residential mortgage loans $ 45,683 $ 51,375 $ 93,058 $ 105,337
Multi-family and commercial real estate mortgage loans 46,607 48,611 93,412 96,103
Consumer and other loans 2,435 2,242 4,807 4,432
Mortgage-backed and other securities 17,400 15,238 34,304 30,308
Interest-earning cash accounts 116 107 236 196
Federal Home Loan Bank of New York stock 1,487 1,461 2,908 2,983
Total interest income 113,728 119,034 228,725 239,359
Interest expense:        
Deposits 6,557 9,944 14,019 20,673
Borrowings 24,085 23,940 48,368 47,815
Total interest expense 30,642 33,884 62,387 68,488
Net interest income 83,086 85,150 166,338 170,871
Provision for loan losses credited to operations (3,006) (2,967) (6,133) (3,310)
Net interest income after provision for loan losses 86,092 88,117 172,471 174,181
Non-interest income:        
Customer service fees 7,542 8,871 14,530 17,082
Other loan fees 567 553 1,101 1,106
Gain on sales of securities 0 72 86 72
Mortgage banking income, net 155 2,076 118 2,403
Income from bank owned life insurance 2,336 2,179 4,625 4,376
Other 1,316 1,591 2,857 3,236
Total non-interest income 11,916 15,342 23,317 28,275
General and administrative:        
Compensation and benefits 36,708 37,655 74,961 73,936
Occupancy, equipment and systems 18,840 18,980 38,231 38,638
Federal deposit insurance premium 3,031 4,335 6,561 8,536
Advertising 3,018 2,801 4,471 5,065
Other 8,452 8,105 15,347 15,813
Total non-interest expense 70,049 71,876 139,571 141,988
Income before income tax expense 27,959 31,583 56,217 60,468
Income tax expense 9,623 152 19,316 9,730
Net income 18,336 31,431 36,901 50,738
Preferred stock dividends 2,194 2,194 4,388 4,388
Net income available to common shareholders $ 16,142 $ 29,237 $ 32,513 $ 46,350
Basic earnings per common share (in dollars per share) $ 0.16 $ 0.29 $ 0.32 $ 0.46
Diluted earnings per common share (in dollars per share) $ 0.16 $ 0.29 $ 0.32 $ 0.46
Basic weighted average common shares outstanding (in shares) 100,380,937 99,664,442 100,374,934 99,459,376
Diluted weighted average common shares outstanding (in shares) 100,380,937 99,664,442 100,374,934 99,459,376