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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income:        
Residential mortgage loans $ 62,294 $ 73,629 $ 127,248 $ 153,836
Multi-family and commercial real estate mortgage loans 43,347 40,390 86,737 79,013
Consumer and other loans 2,085 2,208 4,171 4,436
Mortgage-backed and other securities 14,116 11,857 27,793 22,756
Interest-earning cash accounts 80 70 149 125
Federal Home Loan Bank of New York stock 1,458 1,620 3,291 3,649
Total interest income 123,380 129,774 249,389 263,815
Interest expense:        
Deposits 12,823 15,689 26,052 33,010
Borrowings 24,783 29,184 49,593 61,872
Total interest expense 37,606 44,873 75,645 94,882
Net interest income 85,774 84,901 173,744 168,933
Provision for loan losses (credited) charged to operations (5,742) 4,526 (4,111) 13,652
Net interest income after provision for loan losses 91,516 80,375 177,855 155,281
Non-interest income:        
Customer service fees 9,030 9,122 18,050 18,168
Other loan fees 647 468 1,255 990
Gain on sales of securities   2,057   2,057
Mortgage banking income, net 610 3,396 1,410 8,172
Income from bank owned life insurance 2,139 2,103 4,128 4,239
Other 1,419 1,436 2,671 3,234
Total non-interest income 13,845 18,582 27,514 36,860
General and administrative:        
Compensation and benefits 34,415 33,385 67,803 65,383
Occupancy, equipment and systems 17,793 16,862 35,967 36,647
Federal deposit insurance premium 7,277 9,009 15,846 19,193
Advertising 2,438 2,811 4,150 4,151
Extinguishment of debt   4,266   4,266
Other 9,670 8,064 18,050 16,308
Total non-interest expense 71,593 74,397 141,816 145,948
Income before income tax expense 33,768 24,560 63,553 46,193
Income tax expense 11,468 8,895 9,704 16,676
Net income 22,300 15,665 53,849 29,517
Preferred stock dividends 2,194 2,827 4,388 2,827
Net income available to common shareholders $ 20,106 $ 12,838 $ 49,461 $ 26,690
Basic earnings per common share (in dollars per share) $ 0.20 $ 0.13 $ 0.50 $ 0.27
Diluted earnings per common share (in dollars per share) $ 0.20 $ 0.13 $ 0.50 $ 0.27
Basic weighted average common shares outstanding (in shares) 98,275,886 97,021,334 98,191,434 96,848,989
Diluted weighted average common shares outstanding (in shares) 98,275,886 97,021,334 98,191,434 96,848,989