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Consolidated Statements of Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
One-to-four family mortgage loans $ 111,869 $ 136,750 $ 226,545 $ 277,704
Multi-family, commercial real estate and construction mortgage loans 41,085 49,598 85,577 100,723
Consumer and other loans 2,509 2,668 5,016 5,319
Mortgage-backed and other securities 21,339 29,636 43,762 60,983
Repurchase agreements and interest-earning cash accounts 74 54 167 69
Federal Home Loan Bank of New York stock 1,637 1,921 3,954 4,417
Total interest income 178,513 220,627 365,021 449,215
Interest expense:        
Deposits 35,638 49,496 72,670 103,038
Borrowings 47,153 59,182 95,100 119,876
Total interest expense 82,791 108,678 167,770 222,914
Net interest income 95,722 111,949 197,251 226,301
Provision for loan losses 10,000 35,000 17,000 80,000
Net interest income after provision for loan losses 85,722 76,949 180,251 146,301
Non-interest income:        
Customer service fees 12,107 13,372 23,829 26,665
Other loan fees 805 866 1,737 1,572
Mortgage banking income, net 370 600 2,803 2,157
Income from bank owned life insurance 2,629 2,376 4,864 4,352
Other 1,129 5,958 1,850 7,118
Total non-interest income 17,040 23,172 35,083 41,864
General and administrative:        
Compensation and benefits 37,168 34,634 73,701 69,885
Occupancy, equipment and systems 15,923 16,637 32,489 33,086
Federal deposit insurance premiums 11,178 6,616 16,692 13,213
Advertising 2,049 994 3,733 2,814
Other 9,636 16,947 18,958 25,089
Total non-interest expense 75,954 75,828 145,573 144,087
Income before income tax expense 26,808 24,293 69,761 44,078
Income tax expense 9,963 8,747 25,532 15,606
Net income $ 16,845 $ 15,546 $ 44,229 $ 28,472
Basic earnings per common share $ 0.18 $ 0.17 $ 0.46 $ 0.30
Diluted earnings per common share $ 0.18 $ 0.17 $ 0.46 $ 0.30
Basic weighted average common shares 92,949,206 91,621,997 92,842,398 91,541,675
Diluted weighted average common and common equivalent shares 92,949,206 91,621,997 92,842,398 91,541,742