OceanFirst Financial (OCFC) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	OCFC
Entity Registrant Name	OCEANFIRST FINANCIAL CORP
Entity Central Index Key	1,004,702
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,382,730

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 40,359	$ 36,117
Securities available-for-sale, at estimated fair value	30,030	19,804
Securities held-to-maturity, net (estimated fair value of $420,409 at June 30, 2015 and $474,215 at December 31, 2014)	414,625	469,417
Federal Home Loan Bank of New York stock, at cost	18,740	19,170
Loans receivable, net	1,772,879	1,688,846
Mortgage loans held for sale	1,454	4,201
Interest and dividends receivable	5,550	5,506
Other real estate owned	3,357	4,664
Premises and equipment, net	24,931	24,738
Servicing asset	487	701
Bank Owned Life Insurance	56,858	56,048
Deferred tax asset	15,234	15,594
Other assets	10,596	11,908
Total assets	2,395,100	2,356,714
Liabilities and Stockholders' Equity
Deposits	1,761,675	1,720,135
Securities sold under agreements to repurchase with retail customers	71,687	67,812
Federal Home Loan Bank advances	295,616	305,238
Other borrowings	27,500	27,500
Advances by borrowers for taxes and insurance	7,845	6,323
Other liabilities	9,242	11,447
Total liabilities	$ 2,173,565	$ 2,138,455
Stockholders' equity:
Preferred stock, $.01 par value, $1,000 liquidation preference, 5,000,000 shares authorized, no shares issued
Common stock, $.01 par value, 55,000,000 shares authorized, 33,566,772 shares issued and 16,722,632 and 16,901,653 shares outstanding at June 30, 2015 and December 31, 2014, respectively	$ 336	$ 336
Additional paid-in capital	267,248	265,260
Retained earnings	223,644	217,714
Accumulated other comprehensive loss	(6,587)	(7,109)
Less: Unallocated common stock held by Employee Stock Ownership Plan	(3,187)	(3,330)
Treasury stock, 16,844,140 and 16,665,119 shares at June 30, 2015 and December 31, 2014, respectively	(259,919)	(254,612)
Common stock acquired by Deferred Compensation Plan	(309)	(304)
Deferred Compensation Plan Liability	309	304
Total stockholders' equity	221,535	218,259
Total liabilities and stockholders' equity	$ 2,395,100	$ 2,356,714

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Securities held-to-maturity, net estimated fair value	$ 420,409,000	$ 474,215,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, liquidation preference	$ 1,000	$ 1,000
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	55,000,000	55,000,000
Common stock, shares issued	33,566,772	33,566,772
Common stock, shares outstanding	16,722,632	16,901,653
Treasury stock, shares	16,844,140	16,665,119

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Loans	$ 18,548	$ 17,530	$ 36,577	$ 34,776
Mortgage-backed securities	1,519	1,731	3,142	3,494
Investment securities and other	509	637	1,026	1,373
Total interest income	20,576	19,898	40,745	39,643
Interest expense:
Deposits	967	986	1,922	2,082
Borrowed funds	1,176	753	2,257	1,337
Total interest expense	2,143	1,739	4,179	3,419
Net interest income	18,433	18,159	36,566	36,224
Provision for loan losses	300	275	675	805
Net interest income after provision for loan losses	18,133	17,884	35,891	35,419
Other income:
Bankcard services revenue	899	897	1,682	1,689
Wealth management revenue	629	608	1,157	1,148
Fees and service charges	2,059	2,261	3,949	4,104
Loan servicing income	59	226	111	454
Net gain on sale of loan servicing	30		111
Net gain on sales of loans available-for-sale	185	219	377	351
Net gain on sale of investment securities available-for-sale	0	348	0	348
Net loss from other real estate operations	(72)	(107)	(51)	(139)
Income from Bank Owned Life Insurance	364	377	810	715
Other	18	1	11	2
Total other income	4,171	4,830	8,157	8,672
Operating expenses:
Compensation and employee benefits	7,700	8,131	15,239	15,816
Occupancy	1,242	1,364	2,696	2,828
Equipment	813	768	1,611	1,524
Marketing	415	610	689	1,142
Federal deposit insurance	506	538	1,004	1,083
Data processing	1,101	987	2,189	2,057
Check card processing	423	494	898	940
Professional fees	539	523	934	898
Other operating expense	1,469	1,415	2,636	2,649
Merger related expenses	184		234
Total operating expenses	14,392	14,830	28,130	28,937
Income before provision for income taxes	7,912	7,884	15,918	15,154
Provision for income taxes	2,779	2,767	5,523	5,330
Net income	$ 5,133	$ 5,117	$ 10,395	$ 9,824
Basic earnings per share	$ 0.31	$ 0.31	$ 0.63	$ 0.58
Diluted earnings per share	$ 0.31	$ 0.30	$ 0.63	$ 0.58
Average basic shares outstanding	16,401	16,740	16,433	16,812
Average diluted shares outstanding	16,593	16,822	16,613	16,946

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 5,133	$ 5,117	$ 10,395	$ 9,824
Other comprehensive income:
Unrealized gain (loss) on securities (net of tax expense of $1 and $98 in 2015 and tax benefit of $209 and $286 in 2014)	2	(303)	141	(414)
Accretion of unrealized loss on securities reclassified to held-to-maturity (net of tax expense of $138 and $263 in 2015 and $125 and $233 in 2014, respectively)	199	181	381	337
Reclassification adjustment for gains included in net income (net of tax expense of $142 in 2014)		(206)		(206)
Total comprehensive income	$ 5,334	$ 4,789	$ 10,917	$ 9,541

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on securities, tax expense (benefit)	$ 1	$ (209)	$ 98	$ (286)
Accretion of unrealized loss on securities reclassified to held-to-maturity, tax expense	$ 138	125	$ 263	233
Reclassification adjustment for gains included in net income, tax expense		$ 142		$ 142

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Employee Stock Ownership Plan [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Gain (Loss) [Member]	Treasury Stock [Member]	Common Stock Acquired by Deferred Compensation Plan [Member]	Deferred Compensation Plan Liability [Member]
Beginning Balance at Dec. 31, 2013	$ 214,350	$ (3,616)	$ 336	$ 263,319	$ 206,201	$ (6,619)	$ (245,271)	$ (665)	$ 665
Net income	9,824				9,824
Other comprehensive income, net of tax	(283)					(283)
Tax benefit of stock plans	50			50
Stock awards	429			429
Treasury stock allocated to restricted stock plan				661	(97)		(564)
Purchased 301,766 and 259,940 shares of common stock in 2014 and 2015 respectively	(5,020)						(5,020)
Allocation of ESOP stock	291	158		133
Cash dividend $0.24 and $0.26 per share for 2014 and 2015 respectively	(4,065)				(4,065)
Exercise of stock options	265				(44)		309
Sale/Purchase of stock for the deferred compensation plan								350	(350)
Ending Balance at Jun. 30, 2014	215,841	(3,458)	336	264,592	211,819	(6,902)	(250,546)	(315)	315
Beginning Balance at Dec. 31, 2014	218,259	(3,330)	336	265,260	217,714	(7,109)	(254,612)	(304)	304
Net income	10,395				10,395
Other comprehensive income, net of tax	522					522
Tax benefit of stock plans	8			8
Stock awards	638			638
Treasury stock allocated to restricted stock plan				1,197	(139)		(1,058)
Purchased 301,766 and 259,940 shares of common stock in 2014 and 2015 respectively	(4,452)						(4,452)
Allocation of ESOP stock	288	143		145
Cash dividend $0.24 and $0.26 per share for 2014 and 2015 respectively	(4,288)				(4,288)
Exercise of stock options	165				(38)		203
Sale/Purchase of stock for the deferred compensation plan								(5)	5
Ending Balance at Jun. 30, 2015	$ 221,535	$ (3,187)	$ 336	$ 267,248	$ 223,644	$ (6,587)	$ (259,919)	$ (309)	$ 309

Consolidated Statements of Cha8

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Retained Earnings [Member]
Cash dividend per share	$ 0.26	$ 0.24
Treasury Stock [Member]
Purchase of common stock, shares	259,940	301,766

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 10,395	$ 9,824
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of premises and equipment	1,504	1,412
Allocation of ESOP stock	288	291
Stock awards	638	429
Amortization of servicing asset	214	594
Net premium amortization in excess of discount accretion on securities	1,140	1,472
Net amortization of deferred costs and discounts on loans	70	35
Provision for loan losses	675	805
Net gain on sale of other real estate owned	(112)	(44)
Net gain on sales of investment securities available-for-sale	0	(348)
Net gain on sales of loans	(377)	(351)
Proceeds from sales of mortgage loans held for sale	28,144	21,368
Mortgage loans originated for sale	(25,020)	(21,715)
Increase in value of Bank Owned Life Insurance	(810)	(715)
(Increase) decrease in interest and dividends receivable	(44)	63
Decrease in other assets	1,311	93
Decrease in other liabilities	(2,205)	(5,271)
Total adjustments	5,416	(1,882)
Net cash provided by operating activities	15,811	7,942
Cash flows from investing activities:
Net increase in loans receivable	(77,571)	(72,377)
Purchase of loans receivable	(7,186)	(20,574)
Purchase of investment securities available-for-sale	(9,973)	(651)
Purchase of mortgage-backed securities held-to-maturity		(10,134)
Purchase of investment-backed securities held-to-maturity		(5,003)
Proceeds from maturities of investment securities available-for-sale		10,000
Proceeds from sale of investment securities available-for-sale		1,402
Proceeds from maturities of investment securities held-to-maturity	23,285	4,350
Principal repayments on mortgage-backed securities held-to-maturity	30,997	27,178
Decrease (increase) in Federal Home Loan Bank of New York stock	430	(5,728)
Proceeds from sales of other real estate owned	1,398	1,173
Purchases of premises and equipment	(1,697)	(2,158)
Net cash used in investing activities	(40,317)	(72,522)
Cash flows from financing activities:
Increase (decrease) in deposits	41,540	(41,253)
Decrease in short-term borrowings	(40,747)	(5,963)
Proceeds from Federal Home Loan Bank advances	35,000	190,000
Repayments of Federal Home Loan Bank advances		(60,000)
Increase in advances by borrowers for taxes and insurance	1,522	425
Exercise of stock options	165	265
Purchase of treasury stock	(4,452)	(5,020)
Dividends paid	(4,288)	(4,065)
Tax benefit of stock plans	8	50
Net cash provided by financing activities	28,748	74,439
Net increase in cash and due from banks	4,242	9,859
Cash and due from banks at beginning of period	36,117	33,958
Cash and due from banks at end of period	40,359	43,817
Supplemental Disclosure of Cash Flow Information:
Interest	4,137	3,229
Income taxes	762	6,601
Non-cash activities:
Loans charged-off, net	$ 458	799
Transfer of loans receivable to other real estate owned		$ 1,752

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of OceanFirst Financial Corp. (the “Company”) and its wholly-owned subsidiary, OceanFirst Bank (the “Bank”), and its wholly-owned subsidiaries, OceanFirst REIT Holdings, Inc., OceanFirst Services, LLC and 975 Holdings, LLC. The interim consolidated financial statements reflect all normal and recurring adjustments which are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results of operations that may be expected for all of 2015. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and the results of operations for the period. Actual results could differ from these estimates. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report to Stockholders on Form 10-K for the year ended December 31, 2014.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	Note 2. Earnings per Share The following reconciles shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Weighted average shares issued net of Treasury shares 16,811 17,258 16,856 17,327 Less: Unallocated ESOP shares (382 ) (416 ) (386 ) (420 ) Unallocated incentive award shares and shares held by deferred compensation plan (28 ) (102 ) (37 ) (95 ) Average basic shares outstanding 16,401 16,740 16,433 16,812 Add: Effect of dilutive securities: Stock options 20 61 20 109 Shares held by deferred compensation plan 172 21 160 25 Average diluted shares outstanding 16,593 16,822 16,613 16,946 For the three months ended June 30, 2015 and 2014, antidilutive stock options of 838,794 and 914,000, respectively, were excluded from earnings per share calculations. For the six months ended June 30, 2015 and 2014, antidilutive stock options of 744,143 and 756,000, respectively, were excluded from earnings per share calculations

Securities

Securities	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Securities	Note 3. Securities The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity at June 30, 2015 and December 31, 2014 are as follows (in thousands): At June 30, 2015 Amortized Gross Gross Estimated Available-for-sale: Investment securities: U.S. agency obligations $ 29,887 $ 143 $ — $ 30,030 Held-to-maturity: Investment securities: U.S. agency obligations $ 65,467 $ 135 $ (2 ) $ 65,600 State and municipal obligations 10,967 15 (9 ) 10,973 Corporate debt securities 55,000 — (7,750 ) 47,250 Total investment securities 131,434 150 (7,761 ) 123,823 Mortgage-backed securities: FHLMC 128,701 565 (1,280 ) 127,986 FNMA 165,220 3,669 (931 ) 167,958 GNMA 549 93 — 642 Total mortgage-backed securities 294,470 4,327 (2,211 ) 296,586 Total held-to-maturity $ 425,904 $ 4,477 $ (9,972 ) $ 420,409 Total securities $ 455,791 $ 4,620 $ (9,972 ) $ 450,439 At December 31, 2014 Amortized Gross Gross Estimated Available-for-sale: Investment securities: U.S. agency obligations $ 19,900 $ — $ (96 ) $ 19,804 Held-to-maturity: Investment securities: U.S. agency obligations $ 86,394 $ 97 $ (50 ) $ 86,441 State and municipal obligations 13,829 25 (8 ) 13,846 Corporate debt securities 55,000 — (9 750 ) 45,250 Total investment securities 155,223 122 (9,808 ) 145,537 Mortgage-backed securities: FHLMC 141,494 609 (1,659 ) 140,444 FNMA 184,003 4,674 (1,182 ) 187,495 GNMA 620 119 — 739 Total mortgage-backed securities 326,117 5,402 (2,841 ) 328,678 Total held-to-maturity $ 481,340 $ 5,524 $ (12,649 ) $ 474,215 Total securities $ 501,240 $ 5,524 $ (12,745 ) $ 494,019 During the third quarter 2013, the Bank transferred $536.0 million of previously designated available-for-sale securities to a held-to-maturity designation at estimated fair value. The securities transferred had an unrealized net loss of $13.3 million at the time of transfer which continues to be reflected in accumulated other comprehensive loss on the consolidated balance sheet, net of subsequent amortization, which is being recognized over the life of the securities. The carrying value of the held-to-maturity investment securities at June 30, 2015 and December 31, 2014 are as follows (in thousands): June 30, December 31, Amortized cost $ 425,904 $ 481,340 Net loss on date of transfer from available-for-sale (13,347 ) (13,347 ) Accretion of net unrealized loss on securities reclassified as held-to-maturity 2,068 1,424 Carrying value $ 414,625 $ 469,417 There were no realized gains or losses on the sale of securities for the three and six months ended June 30, 2015. Net realized gains on the sale of securities for both the three and six months ended June 30, 2014 were $348,000. The amortized cost and estimated fair value of investment securities at June 30, 2015 by contractual maturity are shown below (in thousands). Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2015, corporate debt securities with an amortized cost and estimated fair value of $55.0 million and $47.3 million, respectively, were callable prior to the maturity date. June 30, 2015 Amortized Estimated Less than one year $ 34,038 $ 34,076 Due after one year through five years 71,943 72,189 Due after five years through ten years 340 338 Due after ten years 55,000 47,250 $ 161,321 $ 153,853 Mortgage-backed securities are excluded from the above table since their effective lives are expected to be shorter than the contractual maturity date due to principal prepayments. The estimated fair value and unrealized loss of securities available-for-sale and held-to-maturity at June 30, 2015 and December 31, 2014, segregated by the duration of the unrealized loss, are as follows (in thousands): At June 30, 2015 Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Held-to-maturity: Investment securities: U.S. agency obligations $ — $ — $ 5,059 $ (2 ) $ 5,059 $ (2 ) State and municipal obligations 1,746 (5 ) 1,029 (4 ) 2,775 (9 ) Corporate debt securities — — 47,250 (7,750 ) 47,250 (7,750 ) Total investment securities 1,746 (5 ) 53,338 (7,756 ) 55,084 (7,761 ) Mortgage-backed securities: FHLMC 9,832 (10 ) 74,779 (1,270 ) 84,611 (1,280 ) FNMA 22,040 (119 ) 38,438 (812 ) 60,478 (931 ) Total mortgage-backed securities 31,872 (129 ) 113,217 (2,082 ) 145,089 (2,211 ) Total held-to-maturity $ 33,618 $ (134 ) $ 166,555 $ (9,838 ) $ 200,173 $ (9,972 ) Total securities $ 33,618 $ (134 ) $ 166,555 $ (9,838 ) $ 200,173 $ (9,972 ) At December 31, 2014 Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Available-for-sale: Investment securities: U.S. agency obligations $ 19,804 $ (96 ) $ — $ — $ 19,804 $ (96 ) Held-to-maturity: Investment securities: U.S. agency obligations $ 15,134 $ (9 ) $ 25,409 $ (41 ) $ 40,543 $ (50 ) State and municipal obligations 947 (1 ) 1,827 (7 ) 2,774 (8 ) Corporate debt securities — — 45,250 (9,750 ) 45,250 (9,750 ) Total investment securities 16,081 (10 ) 72,486 (9,798 ) 88,567 (9,808 ) Mortgage-backed securities: FHLMC 9,155 (34 ) 96,975 (1,625 ) 106,130 (1,659 ) FNMA — — 64,932 (1,182 ) 64,932 (1,182 ) Total mortgage-backed securities 9,155 (34 ) 161,907 (2,807 ) 171,062 (2,841 ) Total held-to-maturity $ 25,236 $ (44 ) $ 234,393 $ (12,605 ) $ 259,629 $ (12,649 ) Total securities $ 45,040 $ (140 ) $ 234,393 $ (12,605 ) $ 279,433 $ (12,745 ) At June 30, 2015, the amortized cost, estimated fair value and credit rating of the individual corporate debt securities in an unrealized loss position for greater than one year are as follows (in thousands): Security Description Amortized Cost Estimated Credit Rating BankAmerica Capital $ 15,000 $ 13,006 Ba1/BB Chase Capital 10,000 8,625 Baa2/BBB- Wells Fargo Capital 5,000 4,344 A1/BBB+ Huntington Capital 5,000 4,025 Baa2/BB Keycorp Capital 5,000 4,225 Baa2/BB+ PNC Capital 5,000 4,450 Baa1/BBB- State Street Capital 5,000 4,338 A3/BBB SunTrust Capital 5,000 4,237 Baa3/BB+ $ 55,000 $ 47,250 At June 30, 2015, the estimated fair value of each corporate debt security was below cost. However, the estimated fair value of the corporate debt securities increased as compared to December 31, 2014. The corporate debt securities are issued by other financial institutions with credit ratings ranging from a high of A1 to a low of BB as rated by one of the internationally-recognized credit rating services. These floating-rate securities were purchased in 1998 and have paid coupon interest continuously since issuance. Floating-rate debt securities such as these pay a fixed interest rate spread over 90-day LIBOR. Following the purchase of these securities, the required spread increased for these types of securities causing a decline in the market price. The Company concluded that unrealized losses on corporate debt securities were only temporarily impaired at June 30, 2015. In concluding that the impairments were only temporary, the Company considered several factors in its analysis. The Company noted that each issuer made all the contractually due payments when required. There were no defaults on principal or interest payments and no interest payments were deferred. All of the financial institutions are also considered well-capitalized. Credit spreads have decreased for these types of securities and market prices have improved. Based on management’s analysis of each individual security, the issuers appear to have the ability to meet debt service requirements over the life of the security. Furthermore, the Company does not have the intent to sell these securities and it is more likely than not that the Company will not be required to sell the securities. The Company has held the securities continuously since 1998 and expects to receive its full principal at maturity in 2028 or prior if called by the issuer. The Company has historically not actively sold investment securities and has not utilized the securities portfolio as a source of liquidity. The Company’s long range liquidity plans indicate adequate sources of liquidity outside the securities portfolio. The mortgage-backed securities are issued and guaranteed by either the Federal Home Loan Mortgage Corporation (“FHLMC”) or Federal National Mortgage Association (“FNMA”), corporations which are chartered by the United States Government and whose debt obligations are typically rated AA+ by one of the internationally recognized credit rating services. The Company considers the unrealized losses to be the result of changes in interest rates which over time can have both a positive and negative impact on the estimated fair value of the mortgage-backed securities. The Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell the securities before recovery of their amortized cost. As a result, the Company concluded that these securities were only temporarily impaired at June 30, 2015.

Loans Receivable, Net

Loans Receivable, Net	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Loans Receivable, Net	Note 4. Loans Receivable, Net Loans receivable, net at June 30, 2015 and December 31, 2014 consisted of the following (in thousands): June 30, 2015 December 31, 2014 Real estate: One-to-four family $ 747,962 $ 737,889 Commercial real estate, multi family and land 698,286 649,951 Residential construction 52,428 47,552 Consumer 192,351 199,349 Commercial and industrial 111,229 83,946 Total loans 1,802,256 1,718,687 Loans in process (16,073 ) (16,731 ) Deferred origination costs, net 3,230 3,207 Allowance for loan losses (16,534 ) (16,317 ) Loans receivable, net $ 1,772,879 $ 1,688,846 At June 30, 2015 and December 31, 2014, loans in the amount of $20,905,000 and $18,307,000, respectively, were three or more months delinquent or in the process of foreclosure and the Company was not accruing interest income on these loans. There were no loans ninety days or greater past due and still accruing interest. Non-accrual loans include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified impaired loans. The recorded investment in mortgage and consumer loans collateralized by residential real estate which are in the process of foreclosure amounted to $3,320,000 at June 30, 2015. The amount of foreclosed residential real estate property held by the Company was $3,313,000 at June 30, 2015. The Company defines an impaired loan as all non-accrual commercial real estate, multi-family, land, construction and commercial loans in excess of $250,000. Impaired loans also include all loans modified as troubled debt restructurings. At June 30, 2015, the impaired loan portfolio totaled $43,558,000 for which there was a specific allocation in the allowance for loan losses of $2,106,000. At December 31, 2014, the impaired loan portfolio totaled $36,979,000 for which there was a specific allocation in the allowance for loan losses of $2,161,000. The average balance of impaired loans for the three and six months ended June 30, 2015 was $42,584,000 and $39,764,000, respectively and $42,835,000 and $42,402,000 respectively, for the same prior year periods. An analysis of the allowance for loan losses for the three and six months ended June 30, 2015 and 2014 is as follows (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Balance at beginning of period $ 16,419 $ 20,934 $ 16,317 $ 20,930 Provision charged to operations 300 275 675 805 Charge-offs (331 ) (419 ) (689 ) (1,158 ) Recoveries 146 146 231 359 Balance at end of period $ 16,534 $ 20,936 $ 16,534 $ 20,936 The following table presents an analysis of the allowance for loan losses for the three months ended June 30, 2015 and 2014 and the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2015 and December 31, 2014 (in thousands): Residential Commercial Consumer Commercial Unallocated Total For the three months ended June 30, 2015 Allowance for loan losses: Balance at beginning of period $ 4,206 $ 9,300 $ 1,063 $ 767 $ 1,083 $ 16,419 Provision (benefit) charged to operations (608 ) (65 ) 81 918 (26 ) 300 Charge-offs (68 ) (15 ) (248 ) — — (331 ) Recoveries 80 9 56 1 — 146 Balance at end of period $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 For the three months ended June 30, 2014 Allowance for loan losses: Balance at beginning of period $ 4,290 $ 11,413 $ 1,369 $ 1,044 $ 2,818 $ 20,934 Provision (benefit) charged to operations 207 (337 ) 80 128 197 275 Charge-offs (205 ) — (204 ) (10 ) — (419 ) Recoveries 105 1 39 1 — 146 Balance at end of period $ 4,397 $ 11,077 $ 1,284 $ 1,163 $ 3,015 $ 20,936 For the six months ended June 30, 2015 Allowance for loan losses: Balance at beginning of period $ 4,291 $ 8,935 $ 1,146 $ 863 $ 1,082 $ 16,317 Provision (benefit) charged to operations (682 ) 388 175 819 (25 ) 675 Charge-offs (123 ) (103 ) (463 ) — — (689 ) Recoveries 124 9 94 4 — 231 Balance at end of period $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 For the six months ended June 30, 2014 Allowance for loan losses: Balance at beginning of period $ 4,859 $ 10,371 $ 1,360 $ 1,383 $ 2,957 $ 20,930 Provision (benefit) charged to operations 25 697 196 (171 ) 58 805 Charge-offs (795 ) — (313 ) (50 ) — (1,158 ) Recoveries 308 9 41 1 — 359 Balance at end of period $ 4,397 $ 11,077 $ 1,284 $ 1,163 $ 3,015 $ 20,936 June 30, 2015 Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 33 $ 1,721 $ — $ 320 $ — $ 2,074 Collectively evaluated for impairment 3,577 7,508 952 1,366 1,057 14,460 Total ending allowance balance $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 Loans: Loans individually evaluated for impairment $ 12,935 $ 27,045 $ 2,328 $ 1,250 $ — $ 43,558 Loans collectively evaluated for impairment 787,455 671,241 190,023 109,979 — 1,758,698 Total ending loan balance $ 800,390 $ 698,286 $ 192,351 $ 111,229 $ — $ 1,802,256 December 31, 2014 Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 88 $ 1,741 $ 332 $ — $ — $ 2,161 Collectively evaluated for impairment 4,203 7,194 814 863 1,082 14,156 Total ending allowance balance $ 4,291 $ 8,935 $ 1,146 $ 863 $ 1,082 $ 16,317 Loans: Loans individually evaluated for impairment $ 12,879 $ 21,165 $ 2,221 $ 714 $ — $ 36,979 Loans collectively evaluated for impairment 772,562 628,786 197,128 83,232 — 1,681,708 Total ending loan balance $ 785,441 $ 649,951 $ 199,349 $ 83,946 $ — $ 1,718,687 A summary of impaired loans at June 30, 2015 and December 31, 2014 is as follows (in thousands): June 30, December 31, Impaired loans with no allocated allowance for loan losses $ 32,218 $ 26,487 Impaired loans with allocated allowance for loan losses 11,340 10,492 $ 43,558 $ 36,979 Amount of the allowance for loan losses allocated $ 2,106 $ 2,161 At June 30, 2015, impaired loans include troubled debt restructuring loans of $31,450,000 of which $27,618,000 were performing in accordance with their restructured terms for a minimum of six months and were accruing interest. At December 31, 2014, impaired loans include troubled debt restructuring loans of $23,493,000 of which $21,462,000 were performing in accordance with their restructured terms and were accruing interest. The summary of loans individually evaluated for impairment by loan portfolio segment as of June 30, 2015 and December 31, 2014 and for the three months ended June 30, 2015 and 2014 follows (in thousands): Unpaid Recorded Allowance As of June 30, 2015 With no related allowance recorded: Residential real estate $ 13,094 $ 12,674 $ — Commercial real estate 16,591 16,513 — Consumer 2,813 2,328 — Commercial and industrial 703 703 — $ 33,201 $ 32,218 $ — With an allowance recorded: Residential real estate $ 295 $ 261 $ 65 Commercial real estate 10,592 10,532 1,721 Consumer — — — Commercial and industrial 547 547 320 $ 11,434 $ 11,340 $ 2,106 As of December 31, 2014 With no related allowance recorded: Residential real estate $ 12,351 $ 11,931 $ — Commercial real estate 12,174 12,142 — Consumer 2,243 1,700 — Commercial and industrial 714 714 — $ 27,482 $ 26,487 $ — With an allowance recorded: Residential real estate $ 948 $ 948 $ 88 Commercial real estate 9,023 9,023 1,741 Consumer 521 521 332 Commercial and industrial — — — $ 10,492 $ 10,492 $ 2,161 Three months ended June 30, 2015 2014 Average Interest Average Interest With no related allowance recorded: Residential real estate $ 13,724 $ 144 $ 17,707 $ 169 Commercial real estate 15,182 97 8,046 20 Consumer 2,255 30 2,141 20 Commercial and industrial 707 — 276 3 $ 31,868 $ 271 $ 28,170 $ 212 With an allowance recorded: Residential real estate $ 263 $ 3 $ 1,259 $ 15 Commercial real estate 10,087 19 12,721 26 Consumer — — 685 11 Commercial and industrial 366 2 — — $ 10,716 $ 24 $ 14,665 $ 52 Six months ended June 30, 2015 2014 Average Interest Average Interest With no related allowance recorded: Residential real estate $ 12,775 $ 294 $ 17,608 $ 317 Commercial real estate 13,626 169 7,526 70 Consumer 2,201 59 2,161 41 Commercial and industrial 709 — 277 5 $ 29,311 $ 522 $ 27,572 $ 433 With an allowance recorded: Residential real estate $ 262 $ 6 $ 1,264 $ 31 Commercial real estate 10,008 42 12,888 63 Consumer — — 678 21 Commercial and industrial 183 2 — — $ 10,453 $ 50 $ 14,830 $ 115 The following table presents the recorded investment in non-accrual loans by loan portfolio segment as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Residential real estate $ 4,288 $ 3,115 Commercial real estate 14,601 12,758 Consumer 1,901 1,877 Commercial and industrial 115 557 $ 20,905 $ 18,307 The following table presents the aging of the recorded investment in past due loans as of June 30, 2015 and December 31, 2014 by loan portfolio segment (in thousands): 30-59 60-89 Greater Total Loans Not Total June 30, 2015 Residential real estate $ 4,797 $ 1,846 $ 3,204 $ 9,847 $ 790,543 $ 800,390 Commercial real estate 1,374 — 14,601 15,975 682,311 698,286 Consumer 263 323 1,608 2,194 190,157 192,351 Commercial and industrial — — 115 115 111,114 111,229 $ 6,434 $ 2,169 $ 19,528 $ 28,131 $ 1,774,125 $ 1,802,256 December 31, 2014 Residential real estate $ 7,365 $ 1,695 $ 1,619 $ 10,679 $ 774,762 $ 785,441 Commercial real estate 119 — 12,758 12,877 637,074 649,951 Consumer 845 232 1,833 2,910 196,439 199,349 Commercial and industrial — — 557 557 83,389 83,946 $ 8,329 $ 1,927 $ 16,767 $ 27,023 $ 1,691,664 $ 1,718,687 The Company categorizes all commercial and commercial real estate loans, except for small business loans, into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation and current economic trends, among other factors. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtfu Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. As of June 30, 2015 and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by loan portfolio segment is as follows (in thousands): Pass Special Substandard Doubtful Total June 30, 2015 Commercial real estate $ 650,776 $ 24,264 $ 23,246 $ — $ 698,286 Commercial and industrial 106,551 1,867 2,811 — 111,229 $ 757,327 $ 26,131 $ 26,057 $ — $ 809,515 December 31, 2014 Commercial real estate $ 611,987 $ 12,684 $ 25,280 $ — $ 649,951 Commercial and industrial 82,693 173 1,080 — 83,946 $ 694,680 $ 12,857 $ 26,360 $ — $ 733,897 For residential, consumer and small business loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in residential and consumer loans based on payment activity as of June 30, 2015 and December 31, 2014 (in thousands): Residential Real Estate Residential Consumer June 30, 2105 Performing $ 796,102 $ 190,450 Non-performing 4,288 1,901 $ 800,390 $ 192,351 December 31, 2014 Performing $ 782,326 $ 197,472 Non-performing 3,115 1,877 $ 785,441 $ 199,349 The Company classifies certain loans as troubled debt restructurings when credit terms to a borrower in financial difficulty are modified. The modifications may include a reduction in rate, an extension in term, the capitalization of past due amounts and/or the restructuring of scheduled principal payments. Included in the non-accrual loan total at June 30, 2015 and December 31, 2014 were $3,832,000 and $2,031,000, respectively, of troubled debt restructurings. At June 30, 2015 and December 31, 2014, the Company has allocated $482,000 and $419,000, respectively, of specific reserves to loans that are classified as troubled debt restructurings. Non-accrual loans which become troubled debt restructurings are generally returned to accrual status after six months of performance. In addition to the troubled debt restructurings included in non-accrual loans, the Company also has loans classified as troubled debt restructurings which are accruing at June 30, 2015 and December 31, 2014, which totaled $27,618,000 and $21,462,000, respectively. In the second quarter of 2015, the Bank restructured a commercial real estate loan with an outstanding balance of $3.9 million by extending the term and lowering the monthly repayment amount. The interest rate was unchanged. Troubled debt restructurings are considered in the allowance for loan losses similar to other impaired loans. The following table presents information about troubled debt restructurings which occurred during the three and six months ended June 30, 2015 and 2014, and troubled debt restructurings modified within the previous year and which defaulted during the three and six months ended June 30, 2015 and 2014 (dollars in thousands): Number of Loans Pre-modification Post-modification Three months ended June 30, 2015 Troubled Debt Restructurings: Residential real estate 2 $ 268 $ 231 Commercial real estate 1 3,939 3,939 Consumer 4 259 243 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Six months ended June 30, 2015 Troubled Debt Restructurings: Residential real estate 4 $ 517 $ 480 Commercial real estate 3 6,033 5,944 Consumer 8 395 379 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Three months ended June 30, 2014 Troubled Debt Restructurings: Residential real estate 1 $ 358 $ 358 Consumer 3 93 97 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Six months ended June 30, 2014 Troubled Debt Restructurings: Residential real estate 4 $ 882 $ 805 Consumer 5 168 171 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None

Reserve for Repurchased Loans a

Reserve for Repurchased Loans and Loss Sharing Obligations	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Reserve for Repurchased Loans and Loss Sharing Obligations	Note 5. Reserve for Repurchased Loans and Loss Sharing Obligations The reserve for repurchased loans and loss sharing obligations was $1.0 million at June 30, 2015, unchanged from December 31, 2014 and was $1.3 million at June 30, 2014 a decrease of $163,000 from December 31, 2013 due to realized losses. The reserve for repurchased loans and loss sharing obligations was established to provide for expected losses related to repurchase requests which may be received on residential mortgage loans previously sold to investors and other loss sharing obligations. The reserve is included in other liabilities in the accompanying statements of financial condition. At June 30, 2015, and December 31, 2014, there were no outstanding loan repurchase requests.

Deposits

Deposits	6 Months Ended
	Jun. 30, 2015
Banking and Thrift [Abstract]
Deposits	Note 6. Deposits The major types of deposits at June 30, 2015 and December 31, 2014 were as follows (in thousands): Type of Account June 30, 2015 December 31, 2014 Non-interest-bearing $ 328,175 $ 279,944 Interest-bearing checking 794,310 836,120 Money market deposit 123,017 95,663 Savings 306,079 301,190 Time deposits 210,094 207,218 Total deposits $ 1,761,675 $ 1,720,135 Included in time deposits at June 30, 2015 and December 31, 2014, is $73,900,000 and $64,416,000, respectively, in deposits of $100,000 and over.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 7. Recent Accounting Pronouncements In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” which applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The amendments in this update clarify when an in-substance repossession or foreclosure occurs and requires disclosure of both (1) the amount of foreclosed residential real estate property held by a creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments in ASU 2014-04 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. The adoption of this standard in the first quarter of 2015 did not to have a material impact on the Company’s consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair market measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or the most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The Company uses valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability and developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and developed based on the best information available in the circumstances. In that regard, a fair value hierarchy has been established for valuation inputs that give the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. Movements within the fair value hierarchy are recognized at the end of the applicable reporting period. There were no transfers between the levels of the fair value hierarchy for the three and six months ended June 30, 2015. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlations or other means. Level 3 Inputs - Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities. Assets and Liabilities Measured at Fair Value A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis, that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Securities Available-For-Sale Securities classified as available-for-sale are reported at fair value utilizing Level 1 and Level 2 inputs. In general, fair value is based upon quoted market prices, where available. Most of the Company’s investment and mortgage-backed securities, however, are fixed income instruments that are not quoted on an exchange, but are bought and sold in active markets. Prices for these instruments are obtained through third party pricing vendors or security industry sources that actively participate in the buying and selling of securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain securities without relying exclusively on quoted prices for the specific securities, but comparing the securities to benchmark or comparable securities. Fair value estimates are made at a point in time, based on relevant market data as well as the best information available about the security. Illiquid credit markets have resulted in inactive markets for certain of the Company’s securities. As a result, there is limited observable market data for these assets. Fair value estimates for securities for which limited observable market data is available are based on judgments regarding current economic conditions, liquidity discounts, credit and interest rate risks, and other factors. These estimates involve significant uncertainties and judgments and cannot be determined with precision. As a result, such calculated fair value estimates may not be realizable in a current sale or immediate settlement of the security. The Company utilizes third party pricing services to obtain fair values for its corporate bonds. Management’s policy is to obtain and review all available documentation from the third party pricing service relating to their fair value determinations, including their methodology and summary of inputs. Management reviews this documentation, makes inquiries of the third party pricing service and makes a determination as to the level of the valuation inputs. Based on the Company’s review of the available documentation from the third party pricing service, management concluded that Level 2 inputs were utilized. The significant observable inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, other market information and observations of equity and credit default swap curves related to the issuer. Other Real Estate Owned and Impaired Loans Other real estate owned and loans measured for impairment based on the fair value of the underlying collateral are recorded at estimated fair value, less estimated selling costs. Fair value is based on independent appraisals. The following table summarizes financial assets and financial liabilities measured at fair value as of June 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: June 30, 2015 Total Fair Level 1 Level 2 Level 3 Items measured on a recurring basis: Investment securities available-for-sale: U.S. agency obligations $ 30,030 $ — $ 30,030 $ — Items measured on a non-recurring basis: Other real estate owned 3,357 — — 3,357 Loans measured for impairment based on the fair value of the underlying collateral 13,093 — — 13,093 Fair Value Measurements at Reporting Date Using: December 31, 2014 Total Fair Level 1 Level 2 Level 3 Items measured on a recurring basis: Investment securities available-for-sale: U.S. agency obligations $ 19,804 $ — $ 19,804 $ — Items measured on a non-recurring basis: Other real estate owned 4,664 — — 4,664 Loans measured for impairment based on the fair value of the underlying collateral 11,675 — — 11,675 Assets and Liabilities Disclosed at Fair Value A description of the valuation methodologies used for assets and liabilities disclosed at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy is set forth below. Cash and Due from Banks For cash and due from banks, the carrying amount approximates fair value. Securities Held-to-Maturity Securities classified as held-to-maturity are carried at amortized cost, as the Company has the positive intent and ability to hold these securities to maturity. The Company determines the fair value of the securities utilizing Level 1, Level 2 and infrequently Level 3 inputs. In general, fair value is based upon quoted market prices, where available. Most of the Company’s investment and mortgage-backed securities, however, are fixed income instruments that are not quoted on an exchange, but are bought and sold in active markets. Prices for these instruments are obtained through third party pricing vendors or security industry sources that actively participate in the buying and selling of securities. Prices obtained from these sources include market quotations and matrix pricing. Matrix pricing is a mathematical technique used principally to value certain securities without relying exclusively on quoted prices for the specific securities, but comparing the securities to benchmark or comparable securities. Fair value estimates are made at a point in time, based on relevant market data as well as the best information available about the security. Illiquid credit markets have resulted in inactive markets for certain of the Company’s securities. As a result, there is limited observable market data for these assets. Fair value estimates for securities for which limited observable market data is available are based on judgments regarding current economic conditions, liquidity discounts, credit and interest rate risks, and other factors. These estimates involve significant uncertainties and judgments and cannot be determined with precision. As a result, such calculated fair value estimates may not be realizable in a current sale or immediate settlement of the security. The Company utilizes third party pricing services to obtain fair values for its corporate debt securities. Management’s policy is to obtain and review all available documentation from the third party pricing service relating to their fair value determinations, including their methodology and summary of inputs. Management reviews this documentation, makes inquiries of the third party pricing service and makes a determination as to the level of the valuation inputs. Based on the Company’s review of the available documentation from the third party pricing service, management concluded that Level 2 inputs were utilized for all securities except for certain state and municipal obligations known as bond anticipation notes (“BANs”) where management utilized Level 3 inputs. In the case of the Level 2 securities, the significant observable inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, other market information and observations of equity and credit default swap curves related to the issuer. Management based its fair value estimate of the BANs on the local nature of the issuing entities, the short-term life of the security and current market conditions. Federal Home Loan Bank of New York Stock The fair value for Federal Home Loan Bank of New York stock is its carrying value since this is the amount for which it could be redeemed. There is no active market for this stock and the Company is required to maintain a minimum investment based upon the outstanding balance of mortgage related assets and outstanding borrowings. Loans Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential mortgage, construction, consumer and commercial. Each loan category is further segmented into fixed and adjustable rate interest terms. Fair value of performing and non-performing loans was estimated by discounting the future cash flows, net of estimated prepayments, at a rate for which similar loans would be originated to new borrowers with similar terms. Fair values estimated in this manner do not fully incorporate an exit price approach to fair value, but instead are based on a comparison to current market rates for comparable loans. Deposits Other than Time Deposits The fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, and interest-bearing checking accounts and money market accounts are, by definition, equal to the amount payable on demand. The related insensitivity of the majority of these deposits to interest rate changes creates a significant inherent value which is not reflected in the fair value reported. Time Deposits The fair value of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Securities Sold Under Agreements to Repurchase with Retail Customers Fair value approximates the carrying amount as these borrowings are payable on demand and the interest rate adjusts monthly. Borrowed Funds Fair value estimates are based on discounting contractual cash flows using rates which approximate the rates offered for borrowings of similar remaining maturities. The book value and estimated fair value of the Bank’s significant financial instruments not recorded at fair value as of June 30, 2015 and December 31, 2014 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: June 30, 2105 Book Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 40,359 $ 40,359 $ — $ — Securities held-to-maturity 414,625 — 420,409 — Federal Home Loan Bank of New York stock 18,740 — — 18,740 Loans receivable and mortgage loans held for sale 1,774,333 — — 1,785,437 Financial Liabilities: Deposits other than time deposits 1,551,581 — 1,551,581 — Time deposits 210,094 — 211,369 — Securities sold under agreements to repurchase with retail customers 71,687 71,687 — — Federal Home Loan Bank advances and other borrowings 323,116 — 323,536 — Fair Value Measurements at Reporting Date Using: December 31, 2014 Book Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 36,117 $ 36,117 $ — $ — Securities held-to-maturity 469,417 — 474,215 — Federal Home Loan Bank of New York stock 19,170 — — 19,170 Loans receivable and mortgage loans held for sale 1,693,047 — — 1,709,819 Financial Liabilities: Deposits other than time deposits 1,512,917 — 1,512,917 — Time deposits 207,218 — 208,651 — Securities sold under agreements to repurchase with retail customers 67,812 67,812 — — Federal Home Loan Bank advances and other borrowings 332,738 — 332,432 — Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because a limited market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other significant unobservable inputs. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial assets or liabilities include deferred tax assets, and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 9. Subsequent Events On July 31, 2015 the Company closed on the acquisition of Colonial American Bank (“Colonial”) headquartered in Middletown, New Jersey, in an all stock transaction valued at approximately $11.9 million. Each outstanding share of Colonial common stock and preferred stock was exchanged for 0.3658 shares of the Company’s common stock for a total issuance of 660,098 shares. Colonial operates two full service banking offices in Middletown and Shrewsbury, New Jersey with total assets of $143.2 million, including $125.8 million in total loans and $127.5 million in total deposits as of June 30, 2015. The combined institution will have 26 offices serving the central New Jersey market. Additionally, on July 31, 2015, the Bank executed an agreement to purchase an existing retail branch with total deposits of $24.6 million and core deposits of $20.2 million located in the Toms River market.

Recent Accounting Pronounceme19

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” which applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The amendments in this update clarify when an in-substance repossession or foreclosure occurs and requires disclosure of both (1) the amount of foreclosed residential real estate property held by a creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments in ASU 2014-04 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. The adoption of this standard in the first quarter of 2015 did not to have a material impact on the Company’s consolidated financial statements.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of Shares Outstanding for Basic and Diluted Earnings per Share	The following reconciles shares outstanding for basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Weighted average shares issued net of Treasury shares 16,811 17,258 16,856 17,327 Less: Unallocated ESOP shares (382 ) (416 ) (386 ) (420 ) Unallocated incentive award shares and shares held by deferred compensation plan (28 ) (102 ) (37 ) (95 ) Average basic shares outstanding 16,401 16,740 16,433 16,812 Add: Effect of dilutive securities: Stock options 20 61 20 109 Shares held by deferred compensation plan 172 21 160 25 Average diluted shares outstanding 16,593 16,822 16,613 16,946

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity	The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity at June 30, 2015 and December 31, 2014 are as follows (in thousands): At June 30, 2015 Amortized Gross Gross Estimated Available-for-sale: Investment securities: U.S. agency obligations $ 29,887 $ 143 $ — $ 30,030 Held-to-maturity: Investment securities: U.S. agency obligations $ 65,467 $ 135 $ (2 ) $ 65,600 State and municipal obligations 10,967 15 (9 ) 10,973 Corporate debt securities 55,000 — (7,750 ) 47,250 Total investment securities 131,434 150 (7,761 ) 123,823 Mortgage-backed securities: FHLMC 128,701 565 (1,280 ) 127,986 FNMA 165,220 3,669 (931 ) 167,958 GNMA 549 93 — 642 Total mortgage-backed securities 294,470 4,327 (2,211 ) 296,586 Total held-to-maturity $ 425,904 $ 4,477 $ (9,972 ) $ 420,409 Total securities $ 455,791 $ 4,620 $ (9,972 ) $ 450,439 At December 31, 2014 Amortized Gross Gross Estimated Available-for-sale: Investment securities: U.S. agency obligations $ 19,900 $ — $ (96 ) $ 19,804 Held-to-maturity: Investment securities: U.S. agency obligations $ 86,394 $ 97 $ (50 ) $ 86,441 State and municipal obligations 13,829 25 (8 ) 13,846 Corporate debt securities 55,000 — (9 750 ) 45,250 Total investment securities 155,223 122 (9,808 ) 145,537 Mortgage-backed securities: FHLMC 141,494 609 (1,659 ) 140,444 FNMA 184,003 4,674 (1,182 ) 187,495 GNMA 620 119 — 739 Total mortgage-backed securities 326,117 5,402 (2,841 ) 328,678 Total held-to-maturity $ 481,340 $ 5,524 $ (12,649 ) $ 474,215 Total securities $ 501,240 $ 5,524 $ (12,745 ) $ 494,019
Carrying Value of Held-to-Maturity Investment Securities	The carrying value of the held-to-maturity investment securities at June 30, 2015 and December 31, 2014 are as follows (in thousands): June 30, December 31, Amortized cost $ 425,904 $ 481,340 Net loss on date of transfer from available-for-sale (13,347 ) (13,347 ) Accretion of net unrealized loss on securities reclassified as held-to-maturity 2,068 1,424 Carrying value $ 414,625 $ 469,417
Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity	The amortized cost and estimated fair value of investment securities at June 30, 2015 by contractual maturity are shown below (in thousands). Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2015, corporate debt securities with an amortized cost and estimated fair value of $55.0 million and $47.3 million, respectively, were callable prior to the maturity date. June 30, 2015 Amortized Estimated Less than one year $ 34,038 $ 34,076 Due after one year through five years 71,943 72,189 Due after five years through ten years 340 338 Due after ten years 55,000 47,250 $ 161,321 $ 153,853
Estimated Fair Value and Unrealized Loss of Securities Available-for-Sale and Held-to-Maturity	The estimated fair value and unrealized loss of securities available-for-sale and held-to-maturity at June 30, 2015 and December 31, 2014, segregated by the duration of the unrealized loss, are as follows (in thousands): At June 30, 2015 Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Held-to-maturity: Investment securities: U.S. agency obligations $ — $ — $ 5,059 $ (2 ) $ 5,059 $ (2 ) State and municipal obligations 1,746 (5 ) 1,029 (4 ) 2,775 (9 ) Corporate debt securities — — 47,250 (7,750 ) 47,250 (7,750 ) Total investment securities 1,746 (5 ) 53,338 (7,756 ) 55,084 (7,761 ) Mortgage-backed securities: FHLMC 9,832 (10 ) 74,779 (1,270 ) 84,611 (1,280 ) FNMA 22,040 (119 ) 38,438 (812 ) 60,478 (931 ) Total mortgage-backed securities 31,872 (129 ) 113,217 (2,082 ) 145,089 (2,211 ) Total held-to-maturity $ 33,618 $ (134 ) $ 166,555 $ (9,838 ) $ 200,173 $ (9,972 ) Total securities $ 33,618 $ (134 ) $ 166,555 $ (9,838 ) $ 200,173 $ (9,972 ) At December 31, 2014 Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Available-for-sale: Investment securities: U.S. agency obligations $ 19,804 $ (96 ) $ — $ — $ 19,804 $ (96 ) Held-to-maturity: Investment securities: U.S. agency obligations $ 15,134 $ (9 ) $ 25,409 $ (41 ) $ 40,543 $ (50 ) State and municipal obligations 947 (1 ) 1,827 (7 ) 2,774 (8 ) Corporate debt securities — — 45,250 (9,750 ) 45,250 (9,750 ) Total investment securities 16,081 (10 ) 72,486 (9,798 ) 88,567 (9,808 ) Mortgage-backed securities: FHLMC 9,155 (34 ) 96,975 (1,625 ) 106,130 (1,659 ) FNMA — — 64,932 (1,182 ) 64,932 (1,182 ) Total mortgage-backed securities 9,155 (34 ) 161,907 (2,807 ) 171,062 (2,841 ) Total held-to-maturity $ 25,236 $ (44 ) $ 234,393 $ (12,605 ) $ 259,629 $ (12,649 ) Total securities $ 45,040 $ (140 ) $ 234,393 $ (12,605 ) $ 279,433 $ (12,745 )
Amortized Cost, Estimated Fair Value and Credit Rating of Corporate Debt Securities	At June 30, 2015, the amortized cost, estimated fair value and credit rating of the individual corporate debt securities in an unrealized loss position for greater than one year are as follows (in thousands): Security Description Amortized Cost Estimated Credit Rating BankAmerica Capital $ 15,000 $ 13,006 Ba1/BB Chase Capital 10,000 8,625 Baa2/BBB- Wells Fargo Capital 5,000 4,344 A1/BBB+ Huntington Capital 5,000 4,025 Baa2/BB Keycorp Capital 5,000 4,225 Baa2/BB+ PNC Capital 5,000 4,450 Baa1/BBB- State Street Capital 5,000 4,338 A3/BBB SunTrust Capital 5,000 4,237 Baa3/BB+ $ 55,000 $ 47,250

Loans Receivable, Net (Tables)

Loans Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Components of Loans Receivable, Net	Loans receivable, net at June 30, 2015 and December 31, 2014 consisted of the following (in thousands): June 30, 2015 December 31, 2014 Real estate: One-to-four family $ 747,962 $ 737,889 Commercial real estate, multi family and land 698,286 649,951 Residential construction 52,428 47,552 Consumer 192,351 199,349 Commercial and industrial 111,229 83,946 Total loans 1,802,256 1,718,687 Loans in process (16,073 ) (16,731 ) Deferred origination costs, net 3,230 3,207 Allowance for loan losses (16,534 ) (16,317 ) Loans receivable, net $ 1,772,879 $ 1,688,846
Analysis of Allowance for Loan Losses	An analysis of the allowance for loan losses for the three and six months ended June 30, 2015 and 2014 is as follows (in thousands): Three months ended Six months ended 2015 2014 2015 2014 Balance at beginning of period $ 16,419 $ 20,934 $ 16,317 $ 20,930 Provision charged to operations 300 275 675 805 Charge-offs (331 ) (419 ) (689 ) (1,158 ) Recoveries 146 146 231 359 Balance at end of period $ 16,534 $ 20,936 $ 16,534 $ 20,936
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method	The following table presents an analysis of the allowance for loan losses for the three months ended June 30, 2015 and 2014 and the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2015 and December 31, 2014 (in thousands): Residential Commercial Consumer Commercial Unallocated Total For the three months ended June 30, 2015 Allowance for loan losses: Balance at beginning of period $ 4,206 $ 9,300 $ 1,063 $ 767 $ 1,083 $ 16,419 Provision (benefit) charged to operations (608 ) (65 ) 81 918 (26 ) 300 Charge-offs (68 ) (15 ) (248 ) — — (331 ) Recoveries 80 9 56 1 — 146 Balance at end of period $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 For the three months ended June 30, 2014 Allowance for loan losses: Balance at beginning of period $ 4,290 $ 11,413 $ 1,369 $ 1,044 $ 2,818 $ 20,934 Provision (benefit) charged to operations 207 (337 ) 80 128 197 275 Charge-offs (205 ) — (204 ) (10 ) — (419 ) Recoveries 105 1 39 1 — 146 Balance at end of period $ 4,397 $ 11,077 $ 1,284 $ 1,163 $ 3,015 $ 20,936 For the six months ended June 30, 2015 Allowance for loan losses: Balance at beginning of period $ 4,291 $ 8,935 $ 1,146 $ 863 $ 1,082 $ 16,317 Provision (benefit) charged to operations (682 ) 388 175 819 (25 ) 675 Charge-offs (123 ) (103 ) (463 ) — — (689 ) Recoveries 124 9 94 4 — 231 Balance at end of period $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 For the six months ended June 30, 2014 Allowance for loan losses: Balance at beginning of period $ 4,859 $ 10,371 $ 1,360 $ 1,383 $ 2,957 $ 20,930 Provision (benefit) charged to operations 25 697 196 (171 ) 58 805 Charge-offs (795 ) — (313 ) (50 ) — (1,158 ) Recoveries 308 9 41 1 — 359 Balance at end of period $ 4,397 $ 11,077 $ 1,284 $ 1,163 $ 3,015 $ 20,936 June 30, 2015 Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 33 $ 1,721 $ — $ 320 $ — $ 2,074 Collectively evaluated for impairment 3,577 7,508 952 1,366 1,057 14,460 Total ending allowance balance $ 3,610 $ 9,229 $ 952 $ 1,686 $ 1,057 $ 16,534 Loans: Loans individually evaluated for impairment $ 12,935 $ 27,045 $ 2,328 $ 1,250 $ — $ 43,558 Loans collectively evaluated for impairment 787,455 671,241 190,023 109,979 — 1,758,698 Total ending loan balance $ 800,390 $ 698,286 $ 192,351 $ 111,229 $ — $ 1,802,256 December 31, 2014 Allowance for loan losses: Ending allowance balance attributed to loans: Individually evaluated for impairment $ 88 $ 1,741 $ 332 $ — $ — $ 2,161 Collectively evaluated for impairment 4,203 7,194 814 863 1,082 14,156 Total ending allowance balance $ 4,291 $ 8,935 $ 1,146 $ 863 $ 1,082 $ 16,317 Loans: Loans individually evaluated for impairment $ 12,879 $ 21,165 $ 2,221 $ 714 $ — $ 36,979 Loans collectively evaluated for impairment 772,562 628,786 197,128 83,232 — 1,681,708 Total ending loan balance $ 785,441 $ 649,951 $ 199,349 $ 83,946 $ — $ 1,718,687
Summary of Impaired Loans	A summary of impaired loans at June 30, 2015 and December 31, 2014 is as follows (in thousands): June 30, December 31, Impaired loans with no allocated allowance for loan losses $ 32,218 $ 26,487 Impaired loans with allocated allowance for loan losses 11,340 10,492 $ 43,558 $ 36,979 Amount of the allowance for loan losses allocated $ 2,106 $ 2,161
Summary of Loans Individually Evaluated for Impairment by Loan Portfolio Segment	The summary of loans individually evaluated for impairment by loan portfolio segment as of June 30, 2015 and December 31, 2014 and for the three months ended June 30, 2015 and 2014 follows (in thousands): Unpaid Recorded Allowance As of June 30, 2015 With no related allowance recorded: Residential real estate $ 13,094 $ 12,674 $ — Commercial real estate 16,591 16,513 — Consumer 2,813 2,328 — Commercial and industrial 703 703 — $ 33,201 $ 32,218 $ — With an allowance recorded: Residential real estate $ 295 $ 261 $ 65 Commercial real estate 10,592 10,532 1,721 Consumer — — — Commercial and industrial 547 547 320 $ 11,434 $ 11,340 $ 2,106 As of December 31, 2014 With no related allowance recorded: Residential real estate $ 12,351 $ 11,931 $ — Commercial real estate 12,174 12,142 — Consumer 2,243 1,700 — Commercial and industrial 714 714 — $ 27,482 $ 26,487 $ — With an allowance recorded: Residential real estate $ 948 $ 948 $ 88 Commercial real estate 9,023 9,023 1,741 Consumer 521 521 332 Commercial and industrial — — — $ 10,492 $ 10,492 $ 2,161 Three months ended June 30, 2015 2014 Average Interest Average Interest With no related allowance recorded: Residential real estate $ 13,724 $ 144 $ 17,707 $ 169 Commercial real estate 15,182 97 8,046 20 Consumer 2,255 30 2,141 20 Commercial and industrial 707 — 276 3 $ 31,868 $ 271 $ 28,170 $ 212 With an allowance recorded: Residential real estate $ 263 $ 3 $ 1,259 $ 15 Commercial real estate 10,087 19 12,721 26 Consumer — — 685 11 Commercial and industrial 366 2 — — $ 10,716 $ 24 $ 14,665 $ 52 Six months ended June 30, 2015 2014 Average Interest Average Interest With no related allowance recorded: Residential real estate $ 12,775 $ 294 $ 17,608 $ 317 Commercial real estate 13,626 169 7,526 70 Consumer 2,201 59 2,161 41 Commercial and industrial 709 — 277 5 $ 29,311 $ 522 $ 27,572 $ 433 With an allowance recorded: Residential real estate $ 262 $ 6 $ 1,264 $ 31 Commercial real estate 10,008 42 12,888 63 Consumer — — 678 21 Commercial and industrial 183 2 — — $ 10,453 $ 50 $ 14,830 $ 115
Recorded Investment in Non-Accrual Loans by Loan Portfolio Segment	The following table presents the recorded investment in non-accrual loans by loan portfolio segment as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Residential real estate $ 4,288 $ 3,115 Commercial real estate 14,601 12,758 Consumer 1,901 1,877 Commercial and industrial 115 557 $ 20,905 $ 18,307
Aging of Recorded Investment in Past Due Loans	The following table presents the aging of the recorded investment in past due loans as of June 30, 2015 and December 31, 2014 by loan portfolio segment (in thousands): 30-59 60-89 Greater Total Loans Not Total June 30, 2015 Residential real estate $ 4,797 $ 1,846 $ 3,204 $ 9,847 $ 790,543 $ 800,390 Commercial real estate 1,374 — 14,601 15,975 682,311 698,286 Consumer 263 323 1,608 2,194 190,157 192,351 Commercial and industrial — — 115 115 111,114 111,229 $ 6,434 $ 2,169 $ 19,528 $ 28,131 $ 1,774,125 $ 1,802,256 December 31, 2014 Residential real estate $ 7,365 $ 1,695 $ 1,619 $ 10,679 $ 774,762 $ 785,441 Commercial real estate 119 — 12,758 12,877 637,074 649,951 Consumer 845 232 1,833 2,910 196,439 199,349 Commercial and industrial — — 557 557 83,389 83,946 $ 8,329 $ 1,927 $ 16,767 $ 27,023 $ 1,691,664 $ 1,718,687
Risk Category of Loans by Loan Portfolio Segment	As of June 30, 2015 and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by loan portfolio segment is as follows (in thousands): Pass Special Substandard Doubtful Total June 30, 2015 Commercial real estate $ 650,776 $ 24,264 $ 23,246 $ — $ 698,286 Commercial and industrial 106,551 1,867 2,811 — 111,229 $ 757,327 $ 26,131 $ 26,057 $ — $ 809,515 December 31, 2014 Commercial real estate $ 611,987 $ 12,684 $ 25,280 $ — $ 649,951 Commercial and industrial 82,693 173 1,080 — 83,946 $ 694,680 $ 12,857 $ 26,360 $ — $ 733,897
Recorded Investment in Residential and Consumer Loans Based on Payment Activity	The following table presents the recorded investment in residential and consumer loans based on payment activity as of June 30, 2015 and December 31, 2014 (in thousands): Residential Real Estate Residential Consumer June 30, 2105 Performing $ 796,102 $ 190,450 Non-performing 4,288 1,901 $ 800,390 $ 192,351 December 31, 2014 Performing $ 782,326 $ 197,472 Non-performing 3,115 1,877 $ 785,441 $ 199,349
Troubled Debt Restructurings	The following table presents information about troubled debt restructurings which occurred during the three and six months ended June 30, 2015 and 2014, and troubled debt restructurings modified within the previous year and which defaulted during the three and six months ended June 30, 2015 and 2014 (dollars in thousands): Number of Loans Pre-modification Post-modification Three months ended June 30, 2015 Troubled Debt Restructurings: Residential real estate 2 $ 268 $ 231 Commercial real estate 1 3,939 3,939 Consumer 4 259 243 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Six months ended June 30, 2015 Troubled Debt Restructurings: Residential real estate 4 $ 517 $ 480 Commercial real estate 3 6,033 5,944 Consumer 8 395 379 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Three months ended June 30, 2014 Troubled Debt Restructurings: Residential real estate 1 $ 358 $ 358 Consumer 3 93 97 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None Number of Loans Pre-modification Post-modification Six months ended June 30, 2014 Troubled Debt Restructurings: Residential real estate 4 $ 882 $ 805 Consumer 5 168 171 Number of Loans Recorded Investment Troubled Debt Restructurings Which Subsequently Defaulted: None None

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2015
Banking and Thrift [Abstract]
Summary of Major Types of Deposits	The major types of deposits at June 30, 2015 and December 31, 2014 were as follows (in thousands): Type of Account June 30, 2015 December 31, 2014 Non-interest-bearing $ 328,175 $ 279,944 Interest-bearing checking 794,310 836,120 Money market deposit 123,017 95,663 Savings 306,079 301,190 Time deposits 210,094 207,218 Total deposits $ 1,761,675 $ 1,720,135

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Financial Liabilities Measured at Fair Value	The following table summarizes financial assets and financial liabilities measured at fair value as of June 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Fair Value Measurements at Reporting Date Using: June 30, 2015 Total Fair Level 1 Level 2 Level 3 Items measured on a recurring basis: Investment securities available-for-sale: U.S. agency obligations $ 30,030 $ — $ 30,030 $ — Items measured on a non-recurring basis: Other real estate owned 3,357 — — 3,357 Loans measured for impairment based on the fair value of the underlying collateral 13,093 — — 13,093 Fair Value Measurements at Reporting Date Using: December 31, 2014 Total Fair Level 1 Level 2 Level 3 Items measured on a recurring basis: Investment securities available-for-sale: U.S. agency obligations $ 19,804 $ — $ 19,804 $ — Items measured on a non-recurring basis: Other real estate owned 4,664 — — 4,664 Loans measured for impairment based on the fair value of the underlying collateral 11,675 — — 11,675
Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value	The book value and estimated fair value of the Bank’s significant financial instruments not recorded at fair value as of June 30, 2015 and December 31, 2014 are presented in the following tables (in thousands): Fair Value Measurements at Reporting Date Using: June 30, 2105 Book Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 40,359 $ 40,359 $ — $ — Securities held-to-maturity 414,625 — 420,409 — Federal Home Loan Bank of New York stock 18,740 — — 18,740 Loans receivable and mortgage loans held for sale 1,774,333 — — 1,785,437 Financial Liabilities: Deposits other than time deposits 1,551,581 — 1,551,581 — Time deposits 210,094 — 211,369 — Securities sold under agreements to repurchase with retail customers 71,687 71,687 — — Federal Home Loan Bank advances and other borrowings 323,116 — 323,536 — Fair Value Measurements at Reporting Date Using: December 31, 2014 Book Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 36,117 $ 36,117 $ — $ — Securities held-to-maturity 469,417 — 474,215 — Federal Home Loan Bank of New York stock 19,170 — — 19,170 Loans receivable and mortgage loans held for sale 1,693,047 — — 1,709,819 Financial Liabilities: Deposits other than time deposits 1,512,917 — 1,512,917 — Time deposits 207,218 — 208,651 — Securities sold under agreements to repurchase with retail customers 67,812 67,812 — — Federal Home Loan Bank advances and other borrowings 332,738 — 332,432 —

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation of Shares Outstanding for Basic and Diluted Earnings per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Weighted average shares issued net of Treasury shares	16,811	17,258	16,856	17,327
Less: Unallocated ESOP shares	(382)	(416)	(386)	(420)
Unallocated incentive award shares and shares held by deferred compensation plan	(28)	(102)	(37)	(95)
Average basic shares outstanding	16,401	16,740	16,433	16,812
Average basic shares outstanding	16,401	16,740	16,433	16,812
Add: Effect of dilutive securities:
Stock options	20	61	20	109
Shares held by deferred compensation plan	172	21	160	25
Average diluted shares outstanding	16,593	16,822	16,613	16,946

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Antidilutive stock options excluded from earnings per share calculations	838,794	914,000	744,143	756,000

Securities - Amortized Cost and

Securities - Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Securities Financing Transaction [Line Items]
Available-for-sale, Estimated Fair Value	$ 30,030	$ 19,804
Held-to-maturity, Amortized Cost	425,904	481,340
Held-to-maturity, Estimated Fair Value	420,409	474,215
Total, Amortized Cost	455,791	501,240
Total, Gross Unrealized Gains	4,620	5,524
Total, Gross Unrealized Losses	(9,972)	(12,745)
Total, Estimated Fair Value	450,439	494,019
Corporate Debt Securities [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	55,000
Held-to-maturity, Estimated Fair Value	47,250
Held-to-Maturity Securities [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	425,904	481,340
Held-to-maturity, Gross Unrealized Gains	4,477	5,524
Held-to-maturity, Gross Unrealized Losses	(9,972)	(12,649)
Held-to-maturity, Estimated Fair Value	420,409	474,215
Investment Securities [Member] | U.S. Agency Obligations [Member]
Securities Financing Transaction [Line Items]
Available-for-sale, Amortized Cost	29,887	19,900
Available-for-sale, Gross Unrealized Gains	143
Available-for-sale, Gross Unrealized Losses		(96)
Available-for-sale, Estimated Fair Value	30,030	19,804
Investment Securities [Member] | Held-to-Maturity Securities [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	131,434	155,223
Held-to-maturity, Gross Unrealized Gains	150	122
Held-to-maturity, Gross Unrealized Losses	(7,761)	(9,808)
Held-to-maturity, Estimated Fair Value	123,823	145,537
Investment Securities [Member] | Held-to-Maturity Securities [Member] | U.S. Agency Obligations [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	65,467	86,394
Held-to-maturity, Gross Unrealized Gains	135	97
Held-to-maturity, Gross Unrealized Losses	(2)	(50)
Held-to-maturity, Estimated Fair Value	65,600	86,441
Investment Securities [Member] | Held-to-Maturity Securities [Member] | State and Municipal Obligations [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	10,967	13,829
Held-to-maturity, Gross Unrealized Gains	15	25
Held-to-maturity, Gross Unrealized Losses	(9)	(8)
Held-to-maturity, Estimated Fair Value	10,973	13,846
Investment Securities [Member] | Held-to-Maturity Securities [Member] | Corporate Debt Securities [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	55,000	55,000
Held-to-maturity, Gross Unrealized Losses	(7,750)	(9,750)
Held-to-maturity, Estimated Fair Value	47,250	45,250
Mortgage-Backed Securities [Member] | Held-to-Maturity Securities [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	294,470	326,117
Held-to-maturity, Gross Unrealized Gains	4,327	5,402
Held-to-maturity, Gross Unrealized Losses	(2,211)	(2,841)
Held-to-maturity, Estimated Fair Value	296,586	328,678
Mortgage-Backed Securities [Member] | Held-to-Maturity Securities [Member] | FHLMC [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	128,701	141,494
Held-to-maturity, Gross Unrealized Gains	565	609
Held-to-maturity, Gross Unrealized Losses	(1,280)	(1,659)
Held-to-maturity, Estimated Fair Value	127,986	140,444
Mortgage-Backed Securities [Member] | Held-to-Maturity Securities [Member] | FNMA [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	165,220	184,003
Held-to-maturity, Gross Unrealized Gains	3,669	4,674
Held-to-maturity, Gross Unrealized Losses	(931)	(1,182)
Held-to-maturity, Estimated Fair Value	167,958	187,495
Mortgage-Backed Securities [Member] | Held-to-Maturity Securities [Member] | GNMA [Member]
Securities Financing Transaction [Line Items]
Held-to-maturity, Amortized Cost	549	620
Held-to-maturity, Gross Unrealized Gains	93	119
Held-to-maturity, Estimated Fair Value	$ 642	$ 739

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities transferred to held-to-maturity securities			$ 536,000
Unrealized net loss on securities transferred from available-for-sale to held-to-maturity, Gross			$ 13,300
Realized gains or losses on the sale of securities	$ 0	$ 348		$ 0	$ 348
Corporate debt securities, callable, amortized cost	55,000			55,000
Corporate debt securities, callable, estimated fair value	$ 47,300			$ 47,300
Floating-rate securities, purchased period				1,998
Floating-rate debt securities, fixed interest rate period				Over 90-day LIBOR
Principal maturity year				2028 or prior if called by the issuer

Securities - Carrying Value of

Securities - Carrying Value of Held-to-Maturity Investment Securities (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Amortized Cost	$ 425,904	$ 481,340
Net loss on date of transfer from available-for-sale	(13,347)	(13,347)
Accretion of net unrealized loss on securities reclassified as held-to-maturity	2,068	1,424
Carrying value	$ 414,625	$ 469,417

Securities - Amortized Cost a30

Securities - Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Investments, Debt and Equity Securities [Abstract]
Less than one year, Amortized Cost	$ 34,038
Due after one year through five years, Amortized Cost	71,943
Due after five years through ten years, Amortized Cost	340
Due after ten years, Amortized Cost	55,000
Total Amortized Cost	161,321
Less than one year, Estimated Fair Value	34,076
Due after one year through five years, Estimated Fair Value	72,189
Due after five years through ten years, Estimated Fair Value	338
Due after ten years, Estimated Fair Value	47,250
Total Estimated Fair Value	$ 153,853

Securities - Estimated Fair Val

Securities - Estimated Fair Value and Unrealized Loss of Securities Available-for-Sale and Held-to-Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Total securities, Less than 12 months, Estimated Fair Value	$ 33,618	$ 45,040
Total securities, Less than 12 months, Unrealized Losses	(134)	(140)
Total securities, 12 months or longer, Estimated Fair Value	166,555	234,393
Total securities, 12 months or longer, Unrealized Losses	(9,838)	(12,605)
Total securities, Estimated Fair Value	200,173	279,433
Total securities, Unrealized Losses	(9,972)	(12,745)
Investment Securities [Member] | U.S. Agency Obligations [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 months, Estimated Market Value		19,804
Available-for-sale, Less than 12 months, Unrealized Losses		(96)
Available-for-sale, 12 months or longer, Estimated Market Value		0
Available-for-sale, 12 months or longer, Unrealized Losses		0
Available-for-sale, Total, Estimated Market Value		19,804
Available-for-sale, Total, Unrealized Losses		(96)
Held-to-Maturity Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	33,618	25,236
Held-to-maturity, Less than 12 months, Unrealized Losses	(134)	(44)
Held-to-maturity, 12 months or longer, Estimated Fair Value	166,555	234,393
Held-to-maturity, 12 months or longer, Unrealized Losses	(9,838)	(12,605)
Held-to-maturity, Total, Estimated Fair Value	200,173	259,629
Held-to-maturity, Total, Unrealized Losses	(9,972)	(12,649)
Held-to-Maturity Securities [Member] | Investment Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	1,746	16,081
Held-to-maturity, Less than 12 months, Unrealized Losses	(5)	(10)
Held-to-maturity, 12 months or longer, Estimated Fair Value	53,338	72,486
Held-to-maturity, 12 months or longer, Unrealized Losses	(7,756)	(9,798)
Held-to-maturity, Total, Estimated Fair Value	55,084	88,567
Held-to-maturity, Total, Unrealized Losses	(7,761)	(9,808)
Held-to-Maturity Securities [Member] | Investment Securities [Member] | U.S. Agency Obligations [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value		15,134
Held-to-maturity, Less than 12 months, Unrealized Losses		(9)
Held-to-maturity, 12 months or longer, Estimated Fair Value	5,059	25,409
Held-to-maturity, 12 months or longer, Unrealized Losses	(2)	(41)
Held-to-maturity, Total, Estimated Fair Value	5,059	40,543
Held-to-maturity, Total, Unrealized Losses	(2)	(50)
Held-to-Maturity Securities [Member] | Investment Securities [Member] | State and Municipal Obligations [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	1,746	947
Held-to-maturity, Less than 12 months, Unrealized Losses	(5)	(1)
Held-to-maturity, 12 months or longer, Estimated Fair Value	1,029	1,827
Held-to-maturity, 12 months or longer, Unrealized Losses	(4)	(7)
Held-to-maturity, Total, Estimated Fair Value	2,775	2,774
Held-to-maturity, Total, Unrealized Losses	(9)	(8)
Held-to-Maturity Securities [Member] | Investment Securities [Member] | Corporate Debt Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, 12 months or longer, Estimated Fair Value	47,250	45,250
Held-to-maturity, 12 months or longer, Unrealized Losses	(7,750)	(9,750)
Held-to-maturity, Total, Estimated Fair Value	47,250	45,250
Held-to-maturity, Total, Unrealized Losses	(7,750)	(9,750)
Held-to-Maturity Securities [Member] | Mortgage-Backed Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	31,872	9,155
Held-to-maturity, Less than 12 months, Unrealized Losses	(129)	(34)
Held-to-maturity, 12 months or longer, Estimated Fair Value	113,217	161,907
Held-to-maturity, 12 months or longer, Unrealized Losses	(2,082)	(2,807)
Held-to-maturity, Total, Estimated Fair Value	145,089	171,062
Held-to-maturity, Total, Unrealized Losses	(2,211)	(2,841)
Held-to-Maturity Securities [Member] | Mortgage-Backed Securities [Member] | FHLMC [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	9,832	9,155
Held-to-maturity, Less than 12 months, Unrealized Losses	(10)	(34)
Held-to-maturity, 12 months or longer, Estimated Fair Value	74,779	96,975
Held-to-maturity, 12 months or longer, Unrealized Losses	(1,270)	(1,625)
Held-to-maturity, Total, Estimated Fair Value	84,611	106,130
Held-to-maturity, Total, Unrealized Losses	(1,280)	(1,659)
Held-to-Maturity Securities [Member] | Mortgage-Backed Securities [Member] | FNMA [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 months, Estimated Fair Value	22,040
Held-to-maturity, Less than 12 months, Unrealized Losses	(119)
Held-to-maturity, 12 months or longer, Estimated Fair Value	38,438	64,932
Held-to-maturity, 12 months or longer, Unrealized Losses	(812)	(1,182)
Held-to-maturity, Total, Estimated Fair Value	60,478	64,932
Held-to-maturity, Total, Unrealized Losses	$ (931)	$ (1,182)

Securities - Amortized Cost, Es

Securities - Amortized Cost, Estimated Fair Value and Credit Rating of Corporate Debt Securities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 425,904	$ 481,340
Estimated Fair Value	420,409	$ 474,215
BankAmerica Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	15,000
Estimated Fair Value	$ 13,006
Credit Rating Moody's/S&P	Ba1/BB
Chase Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 10,000
Estimated Fair Value	$ 8,625
Credit Rating Moody's/S&P	Baa2/BBB-
Wells Fargo Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,344
Credit Rating Moody's/S&P	A1/BBB+
Huntington Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,025
Credit Rating Moody's/S&P	Baa2/BB
Keycorp Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,225
Credit Rating Moody's/S&P	Baa2/BB+
PNC Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,450
Credit Rating Moody's/S&P	Baa1/BBB-
State Street Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,338
Credit Rating Moody's/S&P	A3/BBB
SunTrust Capital [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,000
Estimated Fair Value	$ 4,237
Credit Rating Moody's/S&P	Baa3/BB+
Corporate Debt Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 55,000
Estimated Fair Value	$ 47,250

Loans Receivable, Net - Compone

Loans Receivable, Net - Components of Loans Receivable, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Consumer	$ 192,351		$ 199,349
Commercial and industrial	111,229		83,946
Total loans	1,802,256		1,718,687
Loans in process	(16,073)		(16,731)
Deferred origination costs, net	3,230		3,207
Allowance for loan losses	(16,534)	$ (16,419)	(16,317)	$ (20,936)	$ (20,934)	$ (20,930)
Loans receivable, net	1,772,879		1,688,846
One-to-Four Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Real estate	747,962		737,889
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Real estate	698,286		649,951
Residential Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Real estate	$ 52,428		$ 47,552

Loans Receivable, Net - Additio

Loans Receivable, Net - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans with non-accrual of interest	$ 20,905,000		$ 20,905,000		$ 18,307,000
Financing receivables 90 days past due and still accruing	0		0
Impaired loans on non-accrual commercial real estate, multi-family, land, construction and commercial loans			250,000
Impaired loan portfolio total	43,558,000		43,558,000		36,979,000
Allocation in allowance for loan losses	2,106,000		2,106,000		2,161,000
Average balance of impaired loans	42,584,000	$ 42,835,000	39,764,000	$ 42,402,000
Troubled debt restructuring loans	31,450,000		31,450,000		23,493,000
Troubled debt restructuring loans with accrual interest	27,618,000		27,618,000		21,462,000
Non-accrual loan total troubled debt restructurings	3,832,000				2,031,000
Specific reserves to loans accruing troubled debt restructurings	482,000		482,000		$ 419,000
Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investment in mortgage and consumer loans collateralized, foreclosure amount	3,320,000		3,320,000
Foreclosed property held	3,313,000		3,313,000
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as troubled debt restructurings	$ 3,900,000		$ 3,900,000

Loans Receivable, Net - Analysi

Loans Receivable, Net - Analysis of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Receivables [Abstract]
Balance at beginning of period	$ 16,419	$ 20,934	$ 16,317	$ 20,930
Provision charged to operations	300	275	675	805
Charge-offs	(331)	(419)	(689)	(1,158)
Recoveries	146	146	231	359
Balance at end of period	$ 16,534	$ 20,936	$ 16,534	$ 20,936

Loans Receivable, Net - Allowan

Loans Receivable, Net - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Allowance for loan losses:
Balance at beginning of period	$ 16,419	$ 20,934	$ 16,317	$ 20,930
Provision (benefit) charged to operations	300	275	675	805
Charge-offs	(331)	(419)	(689)	(1,158)
Recoveries	146	146	231	359
Balance at end of period	16,534	20,936	16,534	20,936
Ending allowance balance attributed to loans:
Individually evaluated for impairment	2,074		2,074		$ 2,161
Collectively evaluated for impairment	14,460		14,460		14,156
Total ending allowance balance	16,534		16,534		16,317
Loans:
Loans individually evaluated for impairment	43,558		43,558		36,979
Loans collectively evaluated for impairment	1,758,698		1,758,698		1,681,708
Total loans	1,802,256		1,802,256		1,718,687
Residential Real Estate [Member]
Allowance for loan losses:
Balance at beginning of period	4,206	4,290	4,291	4,859
Provision (benefit) charged to operations	(608)	207	(682)	25
Charge-offs	(68)	(205)	(123)	(795)
Recoveries	80	105	124	308
Balance at end of period	3,610	4,397	3,610	4,397
Ending allowance balance attributed to loans:
Individually evaluated for impairment	33		33		88
Collectively evaluated for impairment	3,577		3,577		4,203
Total ending allowance balance	3,610		3,610		4,291
Loans:
Loans individually evaluated for impairment	12,935		12,935		12,879
Loans collectively evaluated for impairment	787,455		787,455		772,562
Total loans	800,390		800,390		785,441
Commercial Real Estate [Member]
Allowance for loan losses:
Balance at beginning of period	9,300	11,413	8,935	10,371
Provision (benefit) charged to operations	(65)	(337)	388	697
Charge-offs	(15)		(103)
Recoveries	9	1	9	9
Balance at end of period	9,229	11,077	9,229	11,077
Ending allowance balance attributed to loans:
Individually evaluated for impairment	1,721		1,721		1,741
Collectively evaluated for impairment	7,508		7,508		7,194
Total ending allowance balance	9,229		9,229		8,935
Loans:
Loans individually evaluated for impairment	27,045		27,045		21,165
Loans collectively evaluated for impairment	671,241		671,241		628,786
Total loans	698,286		698,286		649,951
Consumer [Member]
Allowance for loan losses:
Balance at beginning of period	1,063	1,369	1,146	1,360
Provision (benefit) charged to operations	81	80	175	196
Charge-offs	(248)	(204)	(463)	(313)
Recoveries	56	39	94	41
Balance at end of period	952	1,284	952	1,284
Ending allowance balance attributed to loans:
Individually evaluated for impairment					332
Collectively evaluated for impairment	952		952		814
Total ending allowance balance	952		952		1,146
Loans:
Loans individually evaluated for impairment	2,328		2,328		2,221
Loans collectively evaluated for impairment	190,023		190,023		197,128
Total loans	192,351		192,351		199,349
Commercial and Industrial [Member]
Allowance for loan losses:
Balance at beginning of period	767	1,044	863	1,383
Provision (benefit) charged to operations	918	128	819	(171)
Charge-offs		(10)		(50)
Recoveries	1	1	4	1
Balance at end of period	1,686	1,163	1,686	1,163
Ending allowance balance attributed to loans:
Individually evaluated for impairment	320		320
Collectively evaluated for impairment	1,366		1,366		863
Total ending allowance balance	1,686		1,686		863
Loans:
Loans individually evaluated for impairment	1,250		1,250		714
Loans collectively evaluated for impairment	109,979		109,979		83,232
Total loans	111,229		111,229		83,946
Unallocated [Member]
Allowance for loan losses:
Balance at beginning of period	1,083	2,818	1,082	2,957
Provision (benefit) charged to operations	(26)	197	(25)	58
Balance at end of period	1,057	$ 3,015	1,057	$ 3,015
Ending allowance balance attributed to loans:
Collectively evaluated for impairment	1,057		1,057		1,082
Total ending allowance balance	$ 1,057		$ 1,057		$ 1,082

Loans Receivable, Net - Summary

Loans Receivable, Net - Summary of Impaired Loans (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
Impaired loans with no allocated allowance for loan losses	$ 32,218,000	$ 26,487,000
Impaired loans with allocated allowance for loan losses	11,340,000	10,492,000
Total	43,558,000	36,979,000
Amount of the allowance for loan losses allocated	$ 2,106,000	$ 2,161,000

Loans Receivable, Net - Summa38

Loans Receivable, Net - Summary of Loans Individually Evaluated for Impairment by Loan Portfolio Segment (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 43,558,000		$ 43,558,000		$ 36,979,000
Allowance for Loan Losses Allocated	2,106,000		2,106,000		2,161,000
With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	33,201,000		33,201,000		27,482,000
Recorded Investment	32,218,000		32,218,000		26,487,000
Average Recorded Investment	31,868,000	$ 28,170,000	29,311,000	$ 27,572,000
Interest Income Recognized	271,000	212,000	522,000	433,000
With an Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	11,434,000		11,434,000		10,492,000
Recorded Investment	11,340,000		11,340,000		10,492,000
Allowance for Loan Losses Allocated	2,106,000		2,106,000		2,161,000
Average Recorded Investment	10,716,000	14,665,000	10,453,000	14,830,000
Interest Income Recognized	24,000	52,000	50,000	115,000
Residential Real Estate [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	13,094,000		13,094,000		12,351,000
Recorded Investment	12,674,000		12,674,000		11,931,000
Average Recorded Investment	13,724,000	17,707,000	12,775,000	17,608,000
Interest Income Recognized	144,000	169,000	294,000	317,000
Residential Real Estate [Member] | With an Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	295,000		295,000		948,000
Recorded Investment	261,000		261,000		948,000
Allowance for Loan Losses Allocated	65,000		65,000		88,000
Average Recorded Investment	263,000	1,259,000	262,000	1,264,000
Interest Income Recognized	3,000	15,000	6,000	31,000
Commercial Real Estate [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	16,591,000		16,591,000		12,174,000
Recorded Investment	16,513,000		16,513,000		12,142,000
Average Recorded Investment	15,182,000	8,046,000	13,626,000	7,526,000
Interest Income Recognized	97,000	20,000	169,000	70,000
Commercial Real Estate [Member] | With an Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	10,592,000		10,592,000		9,023,000
Recorded Investment	10,532,000		10,532,000		9,023,000
Allowance for Loan Losses Allocated	1,721,000		1,721,000		1,741,000
Average Recorded Investment	10,087,000	12,721,000	10,008,000	12,888,000
Interest Income Recognized	19,000	26,000	42,000	63,000
Consumer [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	2,813,000		2,813,000		2,243,000
Recorded Investment	2,328,000		2,328,000		1,700,000
Average Recorded Investment	2,255,000	2,141,000	2,201,000	2,161,000
Interest Income Recognized	30,000	20,000	59,000	41,000
Consumer [Member] | With an Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance					521,000
Recorded Investment					521,000
Allowance for Loan Losses Allocated					332,000
Average Recorded Investment		685,000		678,000
Interest Income Recognized		11,000		21,000
Commercial and Industrial [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	703,000		703,000		714,000
Recorded Investment	703,000		703,000		$ 714,000
Average Recorded Investment	707,000	276,000	709,000	277,000
Interest Income Recognized		$ 3,000		$ 5,000
Commercial and Industrial [Member] | With an Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	547,000		547,000
Recorded Investment	547,000		547,000
Allowance for Loan Losses Allocated	320,000		320,000
Average Recorded Investment	366,000		183,000
Interest Income Recognized	$ 2,000		$ 2,000

Loans Receivable, Net - Recorde

Loans Receivable, Net - Recorded Investment in Non-Accrual Loans by Loan Portfolio Segment (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded Investment in Non-accrual Loans	$ 20,905,000	$ 18,307,000
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded Investment in Non-accrual Loans	1,901,000	1,877,000
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded Investment in Non-accrual Loans	115,000	557,000
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded Investment in Non-accrual Loans	4,288,000	3,115,000
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Recorded Investment in Non-accrual Loans	$ 14,601,000	$ 12,758,000

Loans Receivable, Net - Aging o

Loans Receivable, Net - Aging of Recorded Investment in Past Due Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$ 6,434	$ 8,329
60-89 Days Past Due	2,169	1,927
Greater than 90 Days Past Due	19,528	16,767
Total Past Due	28,131	27,023
Loans Not Past Due	1,774,125	1,691,664
Total loans	1,802,256	1,718,687
Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	4,797	7,365
60-89 Days Past Due	1,846	1,695
Greater than 90 Days Past Due	3,204	1,619
Total Past Due	9,847	10,679
Loans Not Past Due	790,543	774,762
Total loans	800,390	785,441
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	1,374	119
Greater than 90 Days Past Due	14,601	12,758
Total Past Due	15,975	12,877
Loans Not Past Due	682,311	637,074
Total loans	698,286	649,951
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	263	845
60-89 Days Past Due	323	232
Greater than 90 Days Past Due	1,608	1,833
Total Past Due	2,194	2,910
Loans Not Past Due	190,157	196,439
Total loans	192,351	199,349
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Greater than 90 Days Past Due	115	557
Total Past Due	115	557
Loans Not Past Due	111,114	83,389
Total loans	$ 111,229	$ 83,946

Loans Receivable, Net - Risk Ca

Loans Receivable, Net - Risk Category of Loans by Loan Portfolio Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Loan	$ 809,515	$ 733,897
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	698,286	649,951
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	111,229	83,946
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	757,327	694,680
Pass [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	650,776	611,987
Pass [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	106,551	82,693
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	26,131	12,857
Special Mention [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	24,264	12,684
Special Mention [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	1,867	173
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	26,057	26,360
Substandard [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	23,246	25,280
Substandard [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Loan	$ 2,811	$ 1,080

Loans Receivable, Net - Recor42

Loans Receivable, Net - Recorded Investment in Residential and Consumer Loans Based on Payment Activity (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Non-performing	$ 20,905,000	$ 18,307,000
Total loans	1,802,256,000	1,718,687,000
Residential Real Estate [Member] | Residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Performing	796,102,000	782,326,000
Non-performing	4,288,000	3,115,000
Total loans	800,390,000	785,441,000
Residential Real Estate [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Performing	190,450,000	197,472,000
Non-performing	1,901,000	1,877,000
Total loans	$ 192,351,000	$ 199,349,000

Loans Receivable, Net - Trouble

Loans Receivable, Net - Troubled Debt Restructurings (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)SecurityLoan	Jun. 30, 2014USD ($)SecurityLoan	Jun. 30, 2015USD ($)SecurityLoan	Jun. 30, 2014USD ($)SecurityLoan
Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | SecurityLoan	2	1	4	4
Pre-modification Recorded Investment	$ 268	$ 358	$ 517	$ 882
Post-modification Recorded Investment	$ 231	$ 358	$ 480	$ 805
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | SecurityLoan	1		3
Pre-modification Recorded Investment	$ 3,939		$ 6,033
Post-modification Recorded Investment	$ 3,939		$ 5,944
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | SecurityLoan	4	3	8	5
Pre-modification Recorded Investment	$ 259	$ 93	$ 395	$ 168
Post-modification Recorded Investment	$ 243	$ 97	$ 379	$ 171
Subsequently Defaulted [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | SecurityLoan	0	0	0	0
Recorded Investment	$ 0	$ 0	$ 0	$ 0

Reserve for Repurchased Loans44

Reserve for Repurchased Loans and Loss Sharing Obligations - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)SecurityLoan	Dec. 31, 2014SecurityLoan	Jun. 30, 2014USD ($)
Receivables [Abstract]
Reserve for repurchased loans and loss sharing obligations	$ 1,000,000		$ 1,300,000
Decrease in reserve for repurchased loans and loss sharing obligations	$ 163,000
Outstanding number of loan repurchase requests | SecurityLoan	0	0

Deposits - Summary of Major Typ

Deposits - Summary of Major Types of Deposits (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Non-interest-bearing	$ 328,175	$ 279,944
Interest-bearing checking	794,310	836,120
Money market deposit	123,017	95,663
Savings	306,079	301,190
Time deposits	210,094	207,218
Total deposits	$ 1,761,675	$ 1,720,135

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Time deposits, $100,000 and over	$ 73,900,000	$ 64,416,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Financial Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	$ 30,030	$ 19,804
Items Measured on a Recurring Basis [Member] | U.S. Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	30,030	19,804
Items Measured on a Non-Recurring Basis [Member] | Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	3,357	4,664
Items Measured on a Non-Recurring Basis [Member] | Loans Measured for Impairment Based on the Fair Value of Underlying Collateral [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	13,093	11,675
Level 2 Inputs [Member] | Items Measured on a Recurring Basis [Member] | U.S. Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available for sale	30,030	19,804
Level 3 Inputs [Member] | Items Measured on a Non-Recurring Basis [Member] | Other Real Estate Owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	3,357	4,664
Level 3 Inputs [Member] | Items Measured on a Non-Recurring Basis [Member] | Loans Measured for Impairment Based on the Fair Value of Underlying Collateral [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 13,093	$ 11,675

Fair Value Measurements - Book

Fair Value Measurements - Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financial Assets:
Securities held-to-maturity	$ 420,409	$ 474,215
Financial Liabilities:
Time deposits	210,094	207,218
Securities sold under agreements to repurchase with retail customers	71,687	67,812
Book Value [Member]
Financial Assets:
Cash and due from banks	40,359	36,117
Securities held-to-maturity	414,625	469,417
Federal Home Loan Bank of New York stock	18,740	19,170
Loans receivable and mortgage loans held for sale	1,774,333	1,693,047
Financial Liabilities:
Deposits other than time deposits	1,551,581	1,512,917
Time deposits	210,094	207,218
Securities sold under agreements to repurchase with retail customers	71,687	67,812
Federal Home Loan Bank advances and other borrowings	323,116	332,738
Level 1 Inputs [Member]
Financial Assets:
Cash and due from banks	40,359	36,117
Financial Liabilities:
Securities sold under agreements to repurchase with retail customers	71,687	67,812
Level 2 Inputs [Member]
Financial Assets:
Securities held-to-maturity	420,409	474,215
Financial Liabilities:
Deposits other than time deposits	1,551,581	1,512,917
Time deposits	211,369	208,651
Federal Home Loan Bank advances and other borrowings	323,536	332,432
Level 3 Inputs [Member]
Financial Assets:
Federal Home Loan Bank of New York stock	18,740	19,170
Loans receivable and mortgage loans held for sale	$ 1,785,437	$ 1,709,819

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Thousands	Jul. 31, 2015USD ($)shares	Jun. 30, 2015USD ($)Office	Dec. 31, 2014USD ($)
Subsequent Event [Line Items]
Total assets		$ 2,395,100	$ 2,356,714
Total loans		1,772,879	1,688,846
Total deposits		$ 1,761,675	$ 1,720,135
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock exchanged for each share of Colonial common stock | shares	0.3658
Preferred stock exchanged for each share of Colonial common stock | shares	0.3658
Total issuance of common stock | shares	660,098
Subsequent Event [Member] | Toms River Market [Member]
Subsequent Event [Line Items]
Total deposits	$ 24,600
Core deposits	20,200
Ocean First Financial Corporation and Colonial American Bank [Member] | Central New Jersey Market [Member]
Subsequent Event [Line Items]
Number of offices | Office		26
Colonial American Bank [Member] | Central New Jersey Market [Member]
Subsequent Event [Line Items]
Total assets		$ 143,200
Total loans		125,800
Total deposits		$ 127,500
Colonial American Bank [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Cost of acquisition	$ 11,900