Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 01, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Entity Registrant Name | BCB BANCORP INC | |
Entity Central Index Key | 0001228454 | |
Trading Symbol | bcbp | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 16,398,459 | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and amounts due from depository institutions | $ 18,610 | $ 18,970 |
Interest-earning deposits | 174,938 | 176,294 |
Total cash and cash equivalents | 193,548 | 195,264 |
Interest-earning time deposits | 735 | 735 |
Debt securities available for sale | 117,942 | 119,335 |
Equity investments | 7,963 | 7,672 |
Loans held for sale | 1,347 | 1,153 |
Loans receivable, net of allowance for loan losses of $23,004 and $22,359, respectively | 2,307,140 | 2,278,492 |
Federal Home Loan Bank of New York stock, at cost | 13,405 | 13,405 |
Premises and equipment, net | 35,703 | 20,293 |
Accrued interest receivable | 9,750 | 8,378 |
Other real estate owned | 1,746 | 1,333 |
Deferred income taxes | 13,302 | 13,601 |
Goodwill and other intangibles | 5,584 | 5,604 |
Other assets | 10,235 | 9,466 |
Total Assets | 2,718,400 | 2,674,731 |
LIABILITIES | ||
Non-interest bearing deposits | 273,370 | 263,960 |
Interest bearing deposits | 1,915,263 | 1,916,764 |
Total deposits | 2,188,633 | 2,180,724 |
FHLB advances | 245,800 | 245,800 |
Subordinated debt | 36,635 | 36,577 |
Other liabilities and accrued interest payable | 30,614 | 11,415 |
Total Liabilities | 2,501,682 | 2,474,516 |
STOCKHOLDERS' EQUITY | ||
Preferred stock: $0.01 par value, 10,000,000 shares authorized; issued and outstanding 8,340 shares of series C 6%, series D 4.5%, series G 6%, (liquidation value $10,000 per share) and series F 6% (liquidation value $1,000 per share) noncumulative perpetual preferred stock at March 31, 2019 and 7,807 shares of series C 6%, series D 4.5% (liquidation value $10,000 per share) and series F 6% (liquidation value $1,000 per share) noncumulative perpetual preferred stock at December 31, 2018 | ||
Additional paid-in capital preferred stock | 25,016 | 19,706 |
Common stock: no par value; 20,000,000 shares authorized; issued 18,365,677 and 18,352,748 at March 31, 2019 and December 31, 2018, respectively, outstanding 16,393,459 shares and 15,889,306 shares, at March 31, 2019 and December 31, 2018, respectively | ||
Additional paid-in capital common stock | 176,379 | 175,500 |
Retained earnings | 40,750 | 38,405 |
Accumulated other comprehensive (loss) | (3,379) | (5,076) |
Treasury stock, at cost, 1,967,218 and 2,463,442 shares at March 31, 2019 and December 31, 2018, respectively | (22,048) | (28,320) |
Total Stockholders' Equity | 216,718 | 200,215 |
Total Liabilities and Stockholders' Equity | $ 2,718,400 | $ 2,674,731 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Loans receivable, allowance for loan losses | $ 23,004 | $ 22,359 |
Preferred stock, par value per share | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 8,340 | 7,807 |
Preferred stock, shares outstanding | 8,340 | 7,807 |
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 18,365,677 | 18,352,748 |
Common stock, shares outstanding | 16,398,459 | 15,889,306 |
Treasury stock, shares | 1,967,218 | 2,463,442 |
Series C Preferred Stock [Member] | ||
Preferred stock, dividend rate | 6.00% | 6.00% |
Series D Preferred Stock [Member] | ||
Preferred stock, dividend rate | 4.50% | 4.50% |
Preferred stock, liquidation preference per share | $ 10,000 | |
Series G Preferred Stock [Member] | ||
Preferred stock, dividend rate | 6.00% | |
Preferred stock, liquidation preference per share | $ 10,000 | |
Series F Preferred Stock [Member] | ||
Preferred stock, shares outstanding | 6,465 | |
Preferred stock, dividend rate | 6.00% | 6.00% |
Preferred stock, liquidation preference per share | $ 1,000 | $ 1,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest income: | ||
Loans, including fees | $ 28,233 | $ 19,521 |
Mortgage-backed securities | 770 | 699 |
Municipal bonds and other debt | 128 | 104 |
FHLB stock and other interest earning assets | 1,347 | 618 |
Total interest income | 30,478 | 20,942 |
Deposits: | ||
Demand | 1,576 | 797 |
Savings and club | 113 | 97 |
Certificates of deposit | 5,990 | 2,730 |
Total deposits | 7,679 | 3,624 |
Borrowings | 1,897 | 878 |
Total interest expense | 9,576 | 4,502 |
Net interest income | 20,902 | 16,440 |
Provision for loan losses | 889 | 1,342 |
Net interest income after provision for loan losses | 20,013 | 15,098 |
Non-interest income: | ||
Fees and service charges | 883 | 710 |
Gain on sales of loans | 318 | 583 |
Gain (loss) on bulk sale of impaired loans held in portfolio | 107 | (24) |
Gain on sales of other real estate owned | 8 | |
Unrealized (gain) loss on equity investments | 291 | (127) |
Other | 53 | 2,244 |
Total non-interest income | 1,660 | 3,386 |
Non-interest expense: | ||
Salaries and employee benefits | 6,915 | 6,267 |
Occupancy and equipment | 2,630 | 2,062 |
Data processing and service fees | 721 | 729 |
Professional fees | 533 | 505 |
Director fees | 318 | 201 |
Regulatory assessments | 457 | 239 |
Advertising and promotional | 73 | 85 |
Other real estate owned, net | (16) | 31 |
Merger related costs | 145 | |
Other | 2,146 | 1,747 |
Total non-interest expense | 13,777 | 12,011 |
Income before income tax provision | 7,896 | 6,473 |
Income tax provision | 2,445 | 1,841 |
Net Income | 5,451 | 4,632 |
Preferred stock dividends | 317 | 166 |
Net Income available to common stockholders | $ 5,134 | $ 4,466 |
Net Income per common share-basic and diluted | ||
Basic | $ 0.32 | $ 0.30 |
Diluted | $ 0.32 | $ 0.29 |
Weighted average number of common shares outstanding | ||
Basic | 16,078 | 15,048 |
Diluted | 16,111 | 15,181 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||
Net Income | $ 5,451 | $ 4,632 |
Unrealized (losses) gains on available-for-sale debt securities: | ||
Unrealized holding (losses) gains arising during the period | 2,266 | (2,380) |
Tax Effect | (569) | 669 |
Net of Tax Effect | 1,697 | (1,711) |
Other comprehensive (loss) income | 1,697 | (1,711) |
Comprehensive income | $ 7,148 | $ 2,921 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Additional Paid-In Capital [Member]Common Stock [Member] | Additional Paid-In Capital [Member]Series G Preferred Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock [Member] | Series G Preferred Stock [Member] | Total |
Beginning Balance at Dec. 31, 2017 | $ 177,471 | $ 31,241 | $ (29,116) | $ (3,142) | $ 176,454 | ||||
Exercise of Stock Options (200 shares) | 2 | 2 | |||||||
Stock-based compensation expense | 85 | 85 | |||||||
Dividends payable on Series C 6%, Series D 4.5%, Series F 6%, and Series G 6% noncumulative perpetual preferred stock | (166) | (166) | |||||||
Cash dividends on common stock ($0.14 per share declared) | (2,025) | (2,025) | |||||||
Dividend Reinvestment Plan | 80 | (80) | |||||||
Stock Purchase Plan | 115 | 115 | |||||||
Net income | 4,632 | 4,632 | |||||||
Reclassification of unrealized gains on AFS equity securities | 126 | (126) | |||||||
Other comprehensive income (loss) | (1,711) | (1,711) | |||||||
Ending Balance at Mar. 31, 2018 | 177,753 | 33,728 | (29,116) | (4,979) | 177,386 | ||||
Beginning Balance at Dec. 31, 2018 | 195,206 | 38,405 | $ (28,320) | (5,076) | 200,215 | ||||
Issuance of stock | $ 6,239 | $ 5,310 | $ 6,239 | $ 5,310 | |||||
Stock-based compensation expense | 190 | 190 | |||||||
Treasury Stock allocated to Common Stock | (5,707) | (565) | |||||||
Treasury Stock allocated to Common Stock | 6,272 | ||||||||
Dividends payable on Series C 6%, Series D 4.5%, Series F 6%, and Series G 6% noncumulative perpetual preferred stock | (317) | (317) | |||||||
Cash dividends on common stock ($0.14 per share declared) | (2,136) | (2,136) | |||||||
Dividend Reinvestment Plan | 88 | (88) | |||||||
Stock Purchase Plan | 69 | 69 | |||||||
Net income | 5,451 | 5,451 | |||||||
Other comprehensive income (loss) | 1,697 | 1,697 | |||||||
Ending Balance at Mar. 31, 2019 | $ 201,395 | $ 40,750 | $ (22,048) | $ (3,379) | $ 216,718 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Options exercised (shares) | 200 | ||
Cash dividends declared (per share) | $ 0.14 | $ 0.14 | |
Series C Preferred Stock [Member] | |||
Preferred stock, dividend rate | 6.00% | 6.00% | 6.00% |
Series D Preferred Stock [Member] | |||
Preferred stock, dividend rate | 4.50% | 4.50% | 4.50% |
Series F Preferred Stock [Member] | |||
Preferred stock, dividend rate | 6.00% | 6.00% | |
Series G Preferred Stock [Member] | |||
Preferred stock, dividend rate | 6.00% |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash Flows from Operating Activities: | ||
Net Income | $ 5,451 | $ 4,632 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of premises and equipment | 716 | 600 |
Amortization and accretion, net | (765) | (266) |
Provision for loan losses | 889 | 1,342 |
Deferred income tax (benefit) | (270) | (331) |
Loans originated for sale | (4,240) | (4,747) |
Proceeds from sales of loans | 4,364 | 6,417 |
Gain on sales of loans originated for sale | (318) | (583) |
Gains on sales of other real estate owned | (8) | |
Fair value adjustment of OREO | 1 | |
Unrealized (gain) loss on equity investments | (291) | 127 |
(Gain) loss on bulk sale of impaired loans held in portfolio | (107) | 24 |
Stock-based compensation expense | 190 | 85 |
(Increase) decrease in interest receivable | (1,372) | 101 |
(Increase) decrease in other assets | (769) | 172 |
(Decrease) increase in accrued interest payable | (264) | 77 |
Increase in other liabilities | 3,404 | 1,484 |
Net Cash Provided by Operating Activities | 6,610 | 9,135 |
Cash flows from investing activities: | ||
Proceeds from repayments, calls, and maturities on securities available for sale | 3,614 | 7,330 |
Puchases of securities available for sale | (14,645) | |
Proceeds from sales of other real estate owned | 142 | |
Proceeds from bulk sale of impaired loans held | 402 | 250 |
Net increase in loans receivable | (29,451) | (123,078) |
Additions to premises and equipment | (107) | (127) |
Purchase of Federal Home Loan Bank of New York stock | (675) | |
Net Cash Used In Investing Activities | (25,400) | (130,945) |
Cash flows from financing activities: | ||
Net increase in deposits | 7,909 | 121,983 |
Proceeds from Federal Home Loan Bank of New York advances | 60,000 | |
Repayments of Federal Home Loan Bank of New York advances | (45,000) | |
Cash dividends paid on common stock | (2,136) | (2,025) |
Cash dividends paid on preferred stock | (317) | (166) |
Net proceeds from issuance of common stock | 6,308 | 115 |
Net proceeds from issuance of preferred stock | 5,310 | |
Exercise of stock options | 2 | |
Net Cash Provided by Financing Activities | 17,074 | 134,909 |
Net (Decrease) Increase In Cash and Cash Equivalents | (1,716) | 13,099 |
Cash and Cash Equivalents-Begininng | 195,264 | 124,235 |
Cash and Cash Equivalents-Ending | 193,548 | 137,334 |
Supplementary Cash Flow Information: | ||
Cash paid during the year for: Income taxes | 218 | 143 |
Cash paid during the year for: Interest | 9,840 | 4,425 |
Non-cash items: | ||
Transfer of loans to other real estate owned | $ 547 | $ 881 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of BCB Bancorp, Inc. (the “Company”) and the Company’s wholly owned subsidiaries, BCB Community Bank (the “Bank”), BCB Holding Company Investment Company, BCB New York Asset Management, Inc., Pamrapo Service Corporation, REO Special Asset I, LLC., and REO Special Asset II, LLC. The Company’s business is conducted principally through the Bank. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Regulation S-X and, therefore, do not necessarily include all information that would be included in audited consolidated financial statements. The information furnished reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of consolidated financial condition and results of operations. All such adjustments are of a normal recurring nature. These results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2019 or any other future period. The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated statement of financial condition and revenues and expenses for the periods then ended. Actual results could differ significantly from those estimates. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the year ended December 31, 2018, which are included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission. In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred between March 31, 2019, and the date these consolidated financial statements were issued. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“ FASB ”) issued Accounting Standards Update (“ ASU ”) No. 2016-02, Leases (Topic 842), which will supersede the current lease requirements in Topic 840. The ASU requires lessees to recognize a right of use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of income. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet. The reporting of lease related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new guidance became effective for the Company in 2019. The standard has been applied using a modified retrospective transition method. The right-of-use asset and lease liability are reported on the Company’s consolidated statement of financial condition. The adoption of the provisions of this update did not have a significant impact to our consolidated statements of income. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the consolidated financial statements. The amendments are effective for the Company in 2020. The Company is evaluating the impact the adoption of ASU 2016-13 will have on its consolidated financial statements and results of operations. The effect of this change cannot be ascertained at this point, and will depend upon factors including asset components, asset quality and market conditions at the adoption date. In January 2016, the FASB issued ASU 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance amends existing guidance to improve accounting standards for financial instruments including clarification and simplification of accounting and disclosure requirements and the requirement for public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2017. The Company recorded a cumulative effect adjustment to the balance sheet as of January 1, 2018 in the amount of $126,000 , representing the unrealized gain of $175,000 at December 31, 2017 net of taxes of $49,000 . The Company recorded a gain to the income statement in the amount of $291,000 for the three months ended March 31, 2019 and a loss of $127,000 for the three months ended March 31, 2018. In January 2017, FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment (Topic 350). The main objective of this ASU is to simplify the accounting for goodwill impairment by requiring impairment charges be based upon the first step in the current two-step impairment test under Accounting Standards Codification (ASC) 350. Currently, if the fair value of a reporting unit is lower than its carrying amount (Step 1), an entity calculates any impairment charge by comparing the implied fair value of goodwill with its carrying amount (Step 2). This ASU’s objective is to simplify how all entities assess goodwill for impairment by eliminating Step 2 from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The standard will be applied prospectively and is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is currently evaluating the impact of the pending adoption on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement as a result of a broader disclosure project. The Update amends the disclosure requirements for fair value measurements to improve the effectiveness of the disclosure. The Update removes and modifies certain disclosure requirements, as well as adds requirements for public business entities. The ASU is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. An entity is permitted to early adopt any removed or modified disclosures upon issuance of the Update and delay adoption of the additional disclosures until their effective date. This ASU will affect the Company’s disclosures only and will not have a financial statement impact. |
Acquisition of IA Bancorp, Inc.
Acquisition of IA Bancorp, Inc. | 3 Months Ended |
Mar. 31, 2019 | |
Acquisition of IA Bancorp, Inc. [Abstract] | |
Acquisition of IA Bancorp, Inc. | Note 2 – Acquisition of IA Bancorp, Inc. On April 17, 2018, the Company completed its acquisition of IA Bancorp, Inc. (“IAB”) and its wholly-owned subsidiary, Indus-American Bank, of Edison, New Jersey. IAB shareholders received 0.189 shares of the Company’s common stock for each share of IAB common stock they owned as of the effective date of the acquisition. In addition, the Company issued two series of preferred stock, Series E and F, in exchange for two outstanding series, Series C and D, respectively, of IAB preferred stock. The two series of Company preferred shares have terms substantially similar to the terms of the two series of IAB preferred stock. The aggregate consideration paid to IAB shareholders was $20.0 million. The results of IAB’s operations are included in the Company’s unaudited consolidated statements of income beginning April 17, 2018, the date of the acquisition. Indus-American Bank was founded primarily to meet the banking needs of the South Asian-American community. The Company plans to operate BCB-Indus-American Bank, a division of BCB Community Bank, and it will continue to specialize in core business banking products for small- to medium-sized companies, with an emphasis on real estate-based lending. This transaction will allow the combined entities to further develop our existing markets in Jersey City and Edison, and will provide further opportunities in Parsippany, Plainsboro and Hicksville, New York, three new, attractive markets for the Company. The acquisition of IAB was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration paid were recorded at their estimated fair values as of the acquisition date. The $5.2 million excess consideration paid over the fair value of net assets acquired has been reported as goodwill in the Company’s consolidated statements of financial condition as of March 31, 2019. The assets acquired and liabilities assumed and consideration paid in the acquisition of IAB were recorded at their estimated fair values based on management’s best estimates using information available at the date of the acquisition and are subject to adjustment for up to one year after the closing date of the acquisition. While the fair values are not expected to be materially different from the estimates, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition. The items most susceptible to adjustment are the credit fair value adjustments on loans, core deposit intangible and the deferred income tax assets resulting from the acquisition. In connection with the acquisition, the consideration paid and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition are summarized in the following table: Estimated Fair Value At April 17, 2018 (in thousands) Consideration paid: Common stock issued in acquisition $ 9,952 Cash paid for exchange of IAB shares 2,550 Preferred stock 7,453 Total consideration paid 19,955 Assets acquired: Cash and cash equivalents 7,597 Investment securities available for sale 13,811 Restricted investment in bank stocks 1,163 Loans 182,578 Premises and equipment, net 2,834 Other real estate owned, net 328 Accrued interest receivable 612 Core deposit intangible 430 Deferred tax asset 5,843 Other assets 1,122 Total assets acquired 216,318 Liabilities assumed: Deposits 178,436 Borrowings 20,015 Accrued interest payable 120 Other liabilities 3,024 Total liabilities assumed 201,595 Net assets acquired 14,723 Goodwill recorded in acquisition $ 5,232 Note 2 – Acquisition of IA Bancorp, Inc. (continued) Acquired loans (impaired and non-impaired) are initially recorded at their acquisition-date fair values using Level 3 inputs. Fair values are based on a discounted cash flow methodology that involves assumptions and judgments as to credit risk, expected lifetime losses, environmental factors, collateral values, discount rates, expected payments and expected prepayments. Specifically, the Company has prepared three separate loan fair value adjustments that it believes a market participant might employ in estimating the entire fair value adjustment necessary under ASC 820-10 for the acquired loan por tfolio. The three separate valuation methodologies employed are: (i) an interest rate loan fair value adjustment, (ii) a general credit fair value adjustment, and (iii) a specific credit fair value adjustment for purchased credit impaired loans subject to ASC 310-30 provisions. The acquired loans were recorded at fair value at the acquisition date without carryover of IAB’s previously established allowance for loan losses. The table below illustrates the fair value adjustments made to the amortized cost basis to present a fair value of the loans acquired. At April 17, 2018 (in thousands) Gross principal balance $ 192,437 Fair value adjustment on pools of homogeneous loans (5,895) Fair value adjustment on acquired impaired loans (3,964) Fair value of acquired loans $ 182,578 The credit adjustment on acquired impaired loans is derived in accordance with ASC 310-30 and represents the portion of the loan balances that have been deemed uncollectible based on the Company’s expectations of future cash flows for each respective loan. At April 17, 2018 (in thousands) Contractually required principal and interest at acquisition $ 18,732 Contractual cash flows not expected to be collected (non-accretable discount, includes principal and interest) (4,750) Expected cash flows at acquisition 13,982 Interest component of expected cash flows (accretable discount) (1,338) Fair value of loans acquired accounted for under ASC 310-30 12,644 For loans acquired without evidence of credit quality deterioration, the Company prepared interest rate loan fair value and credit fair value adjustments. Loans were grouped into homogeneous pools by characteristics such as loan type, term, collateral and rate. Market rates for similar loans were obtained from various internal and external data sources and reviewed for reasonableness. A present value approach was utilized to calculate the interest rate fair value discount of $1.9 million. Additionally, for loans acquired without credit deterioration, a credit fair value adjustment was calculated using a two-part credit fair value analysis: (i) expected lifetime credit migration losses, and (ii) estimated fair value adjustment for certain qualitative credit factors. The expected lifetime losses were calculated using historical losses observed at IAB. The environmental factor represents potential discount which may arise due to general credit and economic factors. A credit fair value discount of $3.9 million was determined. The fair value adjustment related to loans acquired without evidence of credit quality deterioration will be substantially recognized as interest income over the expected life of the loans. In connection with the acquisition of IAB, the Company recorded a net deferred income tax asset of $5.8 million related to IAB’s net operating loss carryforward, as well as other tax attributes of the acquired company, along with the effects of fair value adjustments resulting from applying the acquisition method of accounting. The fair value of savings and transaction deposit accounts acquired from IAB provide value to the Company as a source of below market rate funds. The fair value of the core deposit intangible was determined based on a discounted cash flow analysis using a discount rate based on the estimated cost of capital for a market participant. To calculate cash flows, the sum of deposit account servicing costs (net of deposit fee income) and interest expense on deposits were compared to the cost of alternative funding sources available to the Company. The expected cash-flows of the deposit base included estimated attrition rates. The core deposit intangible was valued at $430,000. The core deposit intangible asset is being amortized on an accelerated basis over ten years. Amortization from the April 17, 2018 acquisition date through March 31, 2019 was $78,000 . The fair value of certificate of deposit accounts was determined by compiling individual account data into groups of equal remaining maturities with corresponding calculated weighted average rates. Each maturity group’s weighted average rate was compared to market rates for similar maturities and then priced to yield market rates. This valuation adjustment was determined to be a $751,000 premium and is being amortized in line with the expected cash flows driven by the maturities of these d eposits, primarily over five years. Fair Value Measurement of Assets Acquired and Liabilities Assumed The methods used to determine the fair value of the assets acquired and the liabilities assumed in the IAB acquisition were as follows. Refer to Note 10, Fair Value Measurements, for a discussion of the fair value hierarchy. Investment Securities The estimated fair values of investment securities were calculated utilizing Level 2 inputs. The securities acquired are bought and sold in active markets. Prices for these instruments were determined using matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Direct costs related to the merger were accrued and expensed as incurred. During the three months ended March 31, 201 8 , the Company incurred $145,000 in merger-related expenses, and there were no such expenses incurred for the three months ended March 31, 2019. Note 2 – Acquisition of IA Bancorp, Inc. (continued) Supplemental Pro Forma Financial Information The following table presents unaudited condensed pro forma financial information assuming the IAB acquisition had been completed as of January 1, 2018 and for the three months ended March 31, 201 8 . The table has been prepared for comparative purposes only and is not necessarily indicative of the actual results that would have been attained had the acquisition occurred at the beginning of the periods presented, nor is it indicative of future results. Furthermore, the unaudited pro forma financial information includes merger-related expenses but does not reflect management’s estimate of any revenue-enhancing opportunities, cost savings or the impact of conforming certain accounting policies of IAB to the Company’s policies that may have occurred as a result of the integration and consolidation of IAB’s operations. The combined pro forma information reflects adjustments related to certain purchase accounting fair value adjustments and amortization of the core deposit intangibles. Actual Combined Pro forma Combined Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Interest income $ 30,478 $ 23,534 Interest expense 9,576 5,236 Provision for loan losses 889 1,342 Non-interest income 1,660 3,433 Non-interest expense 13,777 13,395 Income Taxes 2,445 1,997 Net Income 5,451 4,997 Earnings per diluted share $ 0.32 $ 0.32 |
Reclassification
Reclassification | 3 Months Ended |
Mar. 31, 2019 | |
Reclassification [Abstract] | |
Reclassification | Note 3 – Reclassification Certain amounts as of December 31, 2018 and for the three month period ended March 31, 2018 have been reclassified to conform to the current period’s presentation. These changes had no effect on the Company’s results of operations or financial position. |
Pension and Other Postretiremen
Pension and Other Postretirement Plans | 3 Months Ended |
Mar. 31, 2019 | |
Pension and Other Postretirement Plans [Abstract] | |
Pension and Other Postretirement Plans | Note 4 – Pension and Equity Incentive Plans Pension Plan The Company assumed, through the merger with Pamrapo Bancorp, Inc., a non-contributory defined benefit pension plan covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the defined benefit pension plan (“Pension Plan”), was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the Pension Plan to the freeze date have been retained. Accordingly, no employees are permitted to commence participation in the Pension Plan and future salary increases and future years of service are not considered when computing an employee’s benefits under the Pension Plan. The Pension Plan is funded in conformity with the funding requirements of applicable government regulations. The Company also acquired through the merger with Pamrapo Bancorp, Inc. a supplemental executive retirement plan (“SERP”) in which certain former employees of Pamrapo Savings Bank are covered. A SERP is an unfunded non-qualified deferred retirement plan. Participants who retire at the age of 65 (the “Normal Retirement Age”), are entitled to an annual retirement benefit equal to 75% of compensation reduced by their retirement plan annual benefits. Participants retiring before the Normal Retirement Age receive the same benefits reduced by a percentage based on years of service to the Company and the number of years prior to the Normal Retirement Age that participants retire. Net periodic pension cost (benefit) for the three months ended March 31, 2019 and March 31, 2018 was $40,000 and ($10,000) , respectively. Net periodic postretirement cost for the SERP plan for each of the three months ended March 31, 2019 and March 31, 2018 was $3,000 . Equity Incentive Plans The Company, under the plan approved by its shareholders on April 26, 2018 (“2018 Equity Incentive Plan”), authorized the issuance of up to 1,000,000 shares of common stock of the Company pursuant to grants of stock options and restricted stock units. Employees and directors of the Company and the Bank are eligible to participate in the 2018 Stock Plan. All stock options will be granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code. Only employees are permitted to receive incentive stock options. On December 14, 2018, a grant of 300,000 options was declared for members of the Board of Directors of the Bank and the Company which vest at a rate of 50% per year, over two years, commencing on the first anniversary of the grant date. The exercise price was recorded as of close of business on December 14, 2018 and a Form 4 was filed for each Director who received a grant with the Securities and Exchange Commission consistent with their filing requirements. On December 14, 2018, an award of 54,000 shares of restricted stock was declared for members of the Board of Directors of the Bank and the Company, which vest over a 2 -year period, commencing on the anniversary of the award date. On December 14, 2018, an award of 13,321 shares of restricted stock was declared for certain executive officers of the Bank and the Company, which vest over a 2 -year period, commencing on the anniversary of the award date. The Company, under the plan approved by its shareholders on April 28, 2011 (“2011 Stock Plan”), authorized the issuance of up to 900,000 shares of common stock of the Company pursuant to grants of stock options. Employees and directors of the Company and the Bank are eligible to participate in the 2011 Stock Plan. All stock options will be granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code. Only employees are permitted to receive incentive stock options. On September 13, 2017, a grant of 275,000 options was declared for certain members of the Board of Directors of the Bank and the Company which vest at a rate of 10% per year, over ten years commencing on the first anniversary of the grant date. The exercise price was recorded as of the close of business on September 13, 2017 and a Form 4 was filed for each Director who received a grant with the Securities and Exchange Commission consistent with their filing requirements. There were 75,000 stock options granted to employees in the fourth quarter of 2017 which vests at a rate of 20% per year. Note 4 – Pension and Equity Incentive Plans (continued) The following table presents a summary of the status of the Company’s restricted shares as of March, 31, 2019. Number of Shares Awarded Weighted Average Grant Date Fair Value Non-vested at December 31, 2018 67,321 $ 11.26 Granted - Vested - Forfeited - Non-vested at March 31, 2019 67,321 $ 11.26 Expected future expenses relating to the non-vested restricted shares outstanding as of March 31, 2019 was $624,000 over a weighted average period of 1.71 years. The following tables present a summary of the status of the Company’s outstanding stock option awards as of March 31, 2019 and March 31, 2018. Number of Option Shares Range of Exercise Prices Weighted Average Exercise Price Outstanding at December 31, 2018 1,104,600 $ 8.93 - 13.32 $ 11.36 Options granted - Options exercised - Options forfeited - Options expired - Outstanding at March 31, 2019 1,104,600 $ 8.93 - 13.32 $ 11.36 As of March 31, 2019, stock options which were granted and were exercisable totaled 268,633 stock options. It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 835,967 shares of unvested options outstanding as of March 31, 2019 was $1.6 million over a weighted average period of 5.21 years. Number of Option Shares Range of Exercise Prices Weighted Average Exercise Price Outstanding at December 31, 2017 889,300 $ 8.93 -13.32 $ 11.42 Options granted - - - Options exercised (200) 10.55 10.55 Options forfeited - - - Options expired - - - Outstanding at March 31, 2018 889,100 $ 8.93 -13.32 $ 10.91 As of March 31, 2018, stock options which were granted and were exercisable totaled 183,867 stock options. It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to 705,233 shares of unvested options outstanding as of March 31, 2018 was $1.5 million over a weighted average period of 7.18 years. |
Net Income per Common Share
Net Income per Common Share | 3 Months Ended |
Mar. 31, 2019 | |
Net Income per Common Share [Abstract] | |
Net Income per Common Share | Note 5 – Net Income per Common Share Basic net income per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the three months ended March 31, 2019 and 2018, the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. No adjustments to net income were necessary in calculating basic and diluted net income per share. For the three months ended March 31, 2019 and 2018 the weighted average number of outstanding options considered to be anti-dilutive were 21,026 and 1,388 respectively. At March 31, 2019, the Company has 6,465 shares of its Series F 6% noncumulative perpetual preferred stock (“Series F shares”) issued and outstanding, which are convertible into the Company’s common stock. The conversion of Series F shares to common shares was not included in the computation of diluted earnings per share as they would be anti-dilutive. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: For the Three Months Ended March 31, 2019 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount (In Thousands, except per share data) Net income available to common stockholders $ 5,134 $ 4,466 Basic earnings per share- Income available to Common stockholders $ 5,134 16,078 $ 0.32 $ 4,466 15,048 $ 0.30 Effect of dilutive securities: Stock options - 33 - 133 Diluted earnings per share- Income available to Common stockholders $ 5,134 16,111 $ 0.32 $ 4,466 15,181 $ 0.29 |
Debt Securities Available for S
Debt Securities Available for Sale | 3 Months Ended |
Mar. 31, 2019 | |
Debt Securities Available for Sale [Abstract] | |
Debt Securities Available for Sale | Note 6 –Debt Securities Available for Sale The following tables present by maturity the amortized cost, gross unrealized gains and losses on, and fair value of, securities available for sale as of March 31, 2019 and December 31, 2018: March 31, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) Mortgage-backed securities: Due after one year through five years $ 5,553 $ 25 $ 96 $ 5,482 Due after five years through ten years 3,049 31 - 3,080 Due after ten years 107,312 252 1,915 105,649 Municipal obligations: Due within one year 496 - - 496 Due after one year through five years 918 22 - 940 Due after five years through ten years 1,224 34 - 1,258 Due after ten years 1,031 6 - 1,037 $ 119,583 $ 370 $ 2,011 $ 117,942 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) Mortgage-backed securities: Due after one year through five years $ 5,613 $ 10 $ 124 $ 5,499 Due after five years through ten years 3,246 2 1 3,247 Due after ten years 110,710 52 3,868 106,894 Municipal obligations: Due within one year 495 - - 495 Due after one year through five years 917 10 - 927 Due after five years through ten years 1225 13 1 1237 Due after ten years 1,036 - - 1,036 $ 123,242 $ 87 $ 3,994 $ 119,335 The unrealized losses, categorized by the length of time of continuous loss position, and fair value of related securities available for sale were as follows: Less than 12 Months More than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In Thousands) March 31, 2019 Residential mortgage-backed securities $ 2,770 $ 21 $ 83,464 $ 1,990 $ 86,234 $ 2,011 $ 2,770 $ 21 $ 83,464 $ 1,990 $ 86,234 $ 2,011 December 31, 2018 Residential mortgage-backed securities $ 39,289 $ 879 $ 62,860 $ 3,114 $ 102,149 $ 3,993 Municipal obligations 1,879 1 - - 1,879 1 $ 41,168 $ 880 $ 62,860 $ 3,114 $ 104,028 $ 3,994 Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) whether the Company intends to sell the security or more likely than not will be required to sell the security before its anticipated recovery. At March 31, 2019 and December 31, 2018, management performed an assessment for possible OTTI of the Company’s residential mortgage-backed securities on an issue-by-issue basis, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. The extent of individual analysis applied to each security depended on the size of the Company’s investment, as well as management’s perception of the credit risk associated with each security. Based on the results of the assessment, management believes impairment of these securities, at March 31, 2019 and December 31, 2018, to be temporary. |
Loans Receivable and Allowance
Loans Receivable and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2019 | |
Loans Receivable and Allowance for Loan Losses [Abstract] | |
Loans Receivable and Allowance for Loan Losses | Note 7 - Loans Receivable and Allowance for Loan Losses The following table presents the recorded investment in loans receivable as of March 31, 2019 and December 31, 2018 by segment and class: March 31, 2019 December 31, 2018 (In Thousands) Originated loans: Residential one-to-four family $ 214,971 $ 213,200 Commercial and multi-family 1,572,932 1,540,766 Construction 114,462 106,187 Commercial business (1) 140,103 136,966 Home equity (2) 49,102 54,271 Consumer 686 726 Sub-total 2,092,256 2,052,116 Acquired loans initially recorded at fair value: Residential one-to-four family 41,833 43,495 Commercial and multi-family 145,722 150,239 Construction - 1,596 Commercial business (1) 25,968 27,373 Home equity (2) 17,599 18,376 Consumer 45 83 Sub-total 231,167 241,162 Acquired loans with deteriorated credit: Residential one-to-four family 1,380 1,390 Commercial and multi-family 5,672 6,832 Construction - - Commercial business (1) 996 854 Home equity (2) 245 248 Consumer - - Sub-total 8,293 9,324 Total Loans 2,331,716 2,302,602 Less: Deferred loan fees, net (1,572) (1,751) Allowance for loan losses (23,004) (22,359) Sub-total (24,576) (24,110) Total Loans, net $ 2,307,140 $ 2,278,492 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) Purchased Credit Impaired Loans The carrying value of loans acquired in the IAB acquisition and accounted for in accordance with ASC Subtopic 310-30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality,” was $6.2 million at March 31, 2019, which was $1.0 million less than the balance at December 31, 201 8 . Under ASC Subtopic 310-30, these loans, referred to as purchased credit impaired (“PCI”) loans, may be aggregated and accounted for as pools of loans if the loans being aggregated have common risk characteristics. The Company elected to account for the loans with evidence of credit deterioration individually rather than aggregate them into pools. The difference between the undiscounted cash flows expected at acquisition and the investment in the acquired loans, or the “accretable yield,” is recognized as interest income utilizing the level-yield method over the life of each loan. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “non- accretable difference,” are not recognized as a yield adjustment, as a loss accrual or as a valuation allowance. Increases in expected cash flows subsequent to the acquisition are recognized prospectively through an adjustment of the yield on the loans over the remaining life, while decreases in expected cash flows are recognized as impairments through a loss provision and an increase in the allowance for loan and lease losses. Valuation allowances (recognized in the allowance for loan and lease losses) on these impaired loans reflect only losses incurred after the acquisition (representing all cash flows that were expected at acquisition but currently are not expected to be received). The following table presents changes in the accretable discount on loans acquired with deteriorated credit quality for which the Company applies the provisions of ASC 310-30 (in Thousands): Three months ended March 31, 2019 Three months ended March 31, 2018 (Dollars in thousands) Balance, beginning of Period $ 2,704 $ 2,230 Accretion recorded to interest income (253) (84) Balance, end of Period $ 2,451 $ 2,146 The following table presents the unpaid principal balance and the related recorded investment of acquired loans included in the Company’s Consolidated Statements of Financial Condition. (In thousands): March 31, December 31, 2019 2018 Unpaid principal balance $ 292,628 $ 301,357 Recorded investment 239,460 250,486 Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) Allowance for Loan Losses The allowance for loan loss is evaluated regularly by management and reflects consideration of all significant factors that affect the collectability of the loan portfolio. The Company’s methodology for assessing the adequacy of the allowance for loan losses consists of several key elements. These elements include a general allocated reserve for performing loans, a specific reserve for impaired loans and an unallocated portion. The Company consistently applies the following comprehensive methodology. During the quarterly review of the allowance for loan losses, the Company considers a variety of qualitative factors that include: · Lending Policies and Procedures · Personnel responsible for the particular portfolio - relative to experience and ability of staff · Trend for past due, criticized and classified loans · Relevant economic factors · Quality of the loan review system · Value of collateral for collateral dependent loans · The effect of any concentrations of credit and the changes in the level of such concentrations · Other external factors The methodology includes the segregation of the loan portfolio into two divisions. Loans that are performing and loans that are impaired. Loans which are performing are evaluated by loan class or loan type. The allowance for performing loans is evaluated based on historical loan experience with an adjustment for qualitative factors referred to above. Impaired loans are loans which are more than 90 days delinquent, troubled debt restructured, or adversely classified. These loans are individually evaluated for loan loss either by current appraisal, or net present value. Management reviews the overall estimate for feasibility and bases the loan loss provision accordingly. The loan portfolio is segmented into the following loan classes, where the risk level for each class is analyzed when determining the allowance for loan losses: Residential single family real estate loans involve certain risks such as interest rate risk and risk of non-repayment. Adjustable-rate residential family real estate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying properties may be adversely affected by higher interest rates. Repayment risk may be affected by a number of factors including, but not necessarily limited to, job loss, divorce, illness and personal bankruptcy of the borrower. Commercial and multi-family real estate lending entails additional risks as compared with residential family property lending. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for commercial real estate as well as economic conditions generally. Construction lending is generally considered to involve a high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of the general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Bank than construction loans to individuals on their personal residence. Commercial business lending, including lines of credit, is generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business. Commercial business loans are primarily secured by inventories and other business assets. In most cases, any repossessed collateral for a defaulted commercial business loans will not provide an adequate source of repayment of the outstanding loan balance. Home equity lending entails certain risks such as interest rate risk and risk of non-repayment. The marketability of the underlying property may be adversely affected by higher interest rates, decreasing the collateral securing the loan. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy of the borrower. Home equity line of credit lending entails securing an equity interest in the borrower’s home. In many cases, the Bank’s position in these loans is as a junior lien holder to another institution’s superior lien. This type of lending is often priced on an adjustable rate basis with the rate set at or above a predefined index. Adjustable-rate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. Other consumer loans generally have more credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. Consumer loans generally have shorter terms and higher interest rates than other lending. In addition, consumer lending collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be adversely effected by job loss, divorce, illness and personal bankruptcy. In most cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan. An unallocated component is maintained to cover uncertainties that could affect management’s estimates of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2019. The table also details the amount of total loans receivable, loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2019 (In thousands): Residential Commercial & Multi-family Construction Commercial Business (1) Home Equity (2) Consumer Unallocated Total Allowance for loan losses: Originated Loans: $ 2,374 $ 14,000 $ 1,003 $ 3,869 $ 313 $ 2 $ 189 $ 21,750 Acquired loans initially recorded at fair value: 335 - - - - - 335 Acquired loans with deteriorated credit: 39 168 - 64 3 - - 274 Beginning Balance, December 31, 2018 2,748 14,168 1,003 3,933 316 2 189 22,359 Charge-offs: Originated Loans: - 111 - 145 - - - 256 Sub-total: - 111 - 145 - - - 256 Recoveries: Originated Loans: - - - 9 - - - 9 Acquired loans initially recorded at fair value: - - - - 3 - - 3 Sub-total: - - - 9 3 - - 12 Provisions: Originated Loans: 97 1,188 206 (405) (48) (2) (157) 879 Acquired loans initially recorded at fair value: 69 - - - (3) - - 66 Acquired loans with deteriorated credit: (7) (24) - (25) - - - (56) Sub-total: 159 1,164 206 (430) (51) (2) (157) 889 Totals: Originated Loans: 2,471 15,077 1,209 3,328 265 - 32 22,382 Acquired loans initially recorded at fair value: 404 - - - - - - 404 Acquired loans with deteriorated credit: 32 144 - 39 3 - - 218 Ending Balance, March 31, 2019 $ 2,907 $ 15,221 $ 1,209 $ 3,367 $ 268 $ - $ 32 $ 23,004 Loans Receivable: Ending Balance Originated Loans: $ 214,971 $ 1,572,932 $ 114,462 $ 140,103 $ 49,102 $ 686 $ - $ 2,092,256 Ending Balance Acquired loans initially recorded at fair value: 41,833 145,722 - 25,968 17,599 45 - 231,167 Ending Balance Acquired loans with deteriorated credit: 1,380 5,672 - 996 245 - - 8,293 Total Gross Loans: $ 258,184 $ 1,724,326 $ 114,462 $ 167,067 $ 66,946 $ 731 $ - $ 2,331,716 Ending Balance: Loans individually evaluated for impairment: Ending Balance Originated Loans: $ 5,985 $ 11,731 $ - $ 1,482 $ 905 $ - $ - $ 20,103 Ending Balance Acquired loans initially recorded at fair value: 5,657 4,835 - 52 343 - - 10,887 Ending Balance Acquired loans with deteriorated credit: 1,380 5,471 - 759 46 - - 7,656 Ending Balance Loans individually evaluated for impairment: $ 13,022 $ 22,037 $ - $ 2,293 $ 1,294 $ - $ - $ 38,646 Ending Balance: Loans collectively evaluated for impairment: Ending Balance Originated Loans: $ 208,986 $ 1,561,201 $ 114,462 $ 138,621 $ 48,197 $ 686 $ - $ 2,072,153 Ending Balance Acquired loans initially recorded at fair value: 36,176 140,887 - 25,916 17,256 45 - 220,280 Ending Balance Acquired loans with deteriorated credit: - 201 - 237 199 - - 637 Ending Balance Loans collectively evaluated for impairment: $ 245,162 $ 1,702,289 $ 114,462 $ 164,774 $ 65,652 $ 731 $ - $ 2,293,070 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2018. Residential Commercial & Multi-family Construction Commercial Business (1) Home Equity (2) Consumer Unallocated Total Allowance for credit losses: Originated Loans: $ 2,368 $ 11,656 $ 518 $ 2,018 $ 338 $ 6 $ 177 $ 17,081 Acquired loans initially recorded at fair value: 242 - - - - - - 242 Acquired loans with deteriorated credit: 40 12 - - - - - 52 Beginning Balance, January 1, 2018 2,650 11,668 518 2,018 338 6 177 17,375 Charge-offs: Originated Loans: 302 - - - - - - 302 Acquired loans initially recorded at fair value: 72 - - - 6 - - 78 Sub-total: 374 - - - 6 - - 380 Recoveries: Originated Loans: - - - - - - - - Acquired loans initially recorded at fair value: - - - - - - - - Acquired loans with deteriorated credit: - - - - - - - - Sub-total: - - - - - - - - Provisions: Originated Loans: 179 224 (26) 658 46 (2) 21 1,100 Acquired loans initially recorded at fair value: 199 - - 24 6 - - 229 Acquired loans with deteriorated credit: 13 - - - - - - 13 Sub-total: 391 224 (26) 682 52 (2) 21 1,342 Totals: Originated Loans: 2,245 11,880 492 2,676 384 4 198 17,879 Acquired loans initially recorded at fair value: 369 - - 24 - - - 393 Acquired loans with deteriorated credit: 53 12 - - - - - 65 Ending Balance, March 31, 2018 $ 2,667 $ 11,892 $ 492 $ 2,700 $ 384 $ 4 $ 198 $ 18,337 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The table below sets forth the amounts and types of non-accrual loans in the Company’s loan portfolio as of March 31, 2019 and December 31, 2018. Loans are placed on non-accrual status when they become more than 90 days delinquent, or when the collection of principal and/or interest become doubtful. As of March 31, 2019 and December 31, 2018, total non-accrual loans differed from the amount of total loans past due greater than 90 days due to troubled debt restructuring of loans which are maintained on non-accrual status for a minimum of six months and until the borrower has demonstrated its ability to satisfy the terms of the restructured loan. As of March 31, 2019 As of December 31, 2018 (In Thousands) (In Thousands) Non-Accruing Loans: Originated loans: Residential one-to-four family $ 1,415 $ 1,160 Commercial and multi-family 1,364 2,568 Commercial business (1) 256 356 Home equity (2) 272 277 Sub-total: 3,307 4,361 Acquired loans initially recorded at fair value: Residential one-to-four family 1,704 2,165 Commercial and multi-family 597 605 Commercial business (1) - 48 Home equity (2) 62 42 Sub-total: 2,363 2,860 Total $ 5,670 $ 7,221 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Nonaccrual loans in the preceding table do not include loans acquired with deteriorated credit quality which were recorded at their fair value at acquisition and totaled $5.8 million at March 31, 2019, and $7.0 million at December 31, 2018. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three months ended March 31, 2019 and 2018 (In thousands): Three Months Ended March 31, 2019 2019 2018 2018 Average Interest Average Interest Recorded Income Recorded Income Originated loans Investment Recognized Investment Recognized With no related allowance recorded: Residential one-to-four family $ 3,073 $ 28 $ 1,981 $ 7 Commercial and Multi-family 12,221 134 11,897 77 Commercial business (1) 1,063 42 382 4 Home equity (2) 758 6 897 7 Sub-total: $ 17,115 $ 210 $ 15,157 $ 95 Acquired loans initially recorded at fair value With no related allowance recorded: Residential one-to-four family $ 2,753 $ 25 $ 3,876 $ 30 Commercial and Multi-family 3,946 55 3,793 59 Commercial business (1) 53 1 - - Home equity (2) 230 3 231 - Consumer 11 - - 4 Sub-total $ 6,993 $ 84 $ 7,900 $ 93 Acquired loans with deteriorated credit With no related allowance recorded: Residential one-to-four family (3) $ 1,019 $ 16 $ 1,225 $ 16 Commercial and Multi-family (3) 6,050 6 512 7 Commercial business (1)(3) 785 - - - Home equity (2)(3) 48 - - - Sub-total: $ 7,902 $ 22 $ 1,737 $ 23 Total Impaired Loans With no related allowance recorded: $ 32,010 $ 316 $ 24,794 $ 211 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. (3) Does not include accretable yield on loans acquired with deteriorated credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the average recorded investment and interest income recognized on impaired loans with allowance recorded by portfolio class for the three months ended March 31, 2019 and 2018. (In thousands): Three Months Ended March 31, 2019 2019 2018 2018 Average Interest Average Interest Recorded Income Recorded Income Originated loans Investment Recognized Investment Recognized with an allowance recorded: Residential one-to-four family $ 2,941 $ 25 $ 5,527 $ 57 Commercial and Multi-family 56 - 243 - Commercial business (1) 865 27 1,332 16 Home equity (2) 153 2 157 2 Sub-total: $ 4,015 $ 54 $ 7,259 $ 75 Acquired loans initially recorded at fair value with an allowance recorded: Residential one-to-four family $ 3,146 $ 24 $ 3,580 $ 32 Commercial and Multi-family 912 4 1,093 5 Home equity (2) 84 2 86 1 Sub-total $ 4,142 $ 30 $ 4,759 $ 38 Acquired loans with deteriorated credit with an allowance recorded: Residential one-to-four family $ 366 $ 5 $ 185 $ 5 Sub-total: $ 366 $ 5 $ 185 $ 5 Total Impaired Loans with an allowance recorded: $ 8,523 $ 89 $ 12,203 $ 118 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the recorded investment and unpaid principal balances where there is no related allowance on impaired loans by portfolio class at March 31, 2019 and December 31, 2018. (In thousands): As of March 31, 2019 As of December 31, 2018 Recorded Unpaid Principal Related Recorded Unpaid Principal Related Originated loans Investment Balance Allowance Investment Balance Allowance with no related allowance recorded: Residential one-to-four family $ 3,523 $ 3,577 $ - $ 2,623 $ 2,689 $ - Commercial and multi-family 11,731 12,215 - 12,711 13,308 - Commercial business (1) 1,151 3,743 - 974 3,411 - Home equity (2) 753 772 - 762 779 - Sub-total: $ 17,158 $ 20,307 $ - $ 17,070 $ 20,187 $ - Acquired loans initially recorded at fair value with no related allowance recorded: Residential one-to-four family $ 2,382 $ 2,504 $ - $ 3,123 $ 3,254 $ - Commercial and Multi-family 3,931 3,931 - 3,961 3,961 - Commercial business (1) 52 52 - 53 53 - Home equity (2) 259 263 - 222 222 - Sub-total: $ 6,624 $ 6,750 $ - $ 7,359 $ 7,490 $ - Acquired loans with deteriorated credit with no related allowance recorded: Residential one-to-four family $ 1,015 $ 1,571 $ - $ 1,023 $ 1,579 $ - Commercial and Multi-family 5,471 6,586 - 6,628 7,957 - Commercial business (1) 759 6,210 - 810 6,253 - Home equity (2) 46 54 - 49 57 - Sub-total: $ 7,291 $ 14,421 $ - $ 8,510 $ 15,846 $ - Total Impaired Loans with no related allowance recorded: $ 31,073 $ 41,478 $ - $ 32,939 $ 43,523 $ - __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the recorded investment, unpaid principal balance, and the related allowance on impaired loans by portfolio class at March 31, 2019 and December 31, 2018. (In thousands): As of March 31, 2019 As of December 31, 2018 Recorded Unpaid Principal Related Recorded Unpaid Principal Related Originated loans Investment Balance Allowance Investment Balance Allowance with an allowance recorded: Residential one-to-four family $ 2,462 $ 2,467 $ 98 $ 3,420 $ 3,420 $ 229 Commercial and Multi-family - - - 111 153 111 Commercial business (1) 331 1,479 292 1,398 1,549 905 Home equity (2) 152 152 20 153 153 21 Sub-total: $ 2,945 $ 4,098 $ 410 $ 5,082 $ 5,275 $ 1,266 Acquired loans initially recorded at fair value with an allowance recorded: Residential one-to-four family $ 3,275 $ 3,436 $ 513 $ 3,016 $ 3,166 $ 532 Commercial and Multi-family 904 1,087 360 920 1,094 369 Commercial business (1) - - - - - - Home equity (2) 84 84 5 84 84 5 Sub-total $ 4,263 $ 4,607 $ 878 $ 4,020 $ 4,344 $ 906 Acquired loans with deteriorated credit with an allowance recorded: Residential one-to-four family $ 365 $ 413 $ 8 $ 367 $ 414 $ 9 Sub-total: $ 365 $ 413 $ 8 $ 367 $ 414 $ 9 Total Impaired Loans with an allowance recorded: $ 7,573 $ 9,118 $ 1,296 $ 9,469 $ 10,033 $ 2,181 Total Impaired Loans with no related allowance recorded: $ 31,073 $ 41,478 $ - $ 32,939 $ 43,523 $ - Total Impaired Loans: $ 38,646 $ 50,596 $ 1,296 $ 42,408 $ 53,556 $ 2,181 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) A troubled debt restructured (“TDR”) is a loan that has been modified whereby the Company has agreed to make certain concessions to a borrower to meet the needs of both the borrower and the Company to maximize the ultimate recovery of a loan. A TDR occurs when a borrower is experiencing, or is expected to experience, financial difficulties and the loan is modified using a concession that would otherwise not be granted to the borrower. The types of concessions granted generally include, but are not limited to interest rate reductions, limitations on the accrued interest charged, term extensions, and deferment of principal. All TDRs were considered impaired and therefore were individually evaluated for impairment in the calculation of the allowance for loan losses. Prior to their classification as TDRs, certain of these loans had been collectively evaluated for impairment in the calculation of the allowance for loan losses. At March 31, 2019 At December 31, 2018 (In thousands) Recorded investment in TDRs: Accrual status $ 23,059 $ 22,477 Non-accrual status 3,395 4,136 Total recorded investment in TDRs $ 26,454 $ 26,613 The following table summarizes information with regard to troubled debt restructurings which occurred during the three months ended March 31, 2019. Three Months Ended March 31, 2019 (Dollars in Thousands) Pre-Modification Outstanding Post-Modification Outstanding Number of Contracts Recorded Investments Recorded Investments Originated loans: Residential one-to-four family $ 1 $ 181 $ 186 Commercial and multi-family 1 877 1,039 Commercial business (1) 1 145 153 Total $ 3 $ 1,203 $ 1,378 The following table summarizes information with regard to troubled debt restructurings which occurred during the three months ended March 31, 2018. Three Months Ended March 31, 2018 (Dollars in Thousands) Pre-Modification Outstanding Post-Modification Outstanding Number of Contracts Recorded Investments Recorded Investments Originated loans: Residential one-to-four family 1 $ 640 $ 640 Sub-total: 1 $ 640 $ 640 Acquired loans initially recorded at fair value: Residential one-to-four family 1 $ 179 $ 179 Sub-total: 1 $ 179 $ 179 Total 2 $ 819 $ 819 _________ (1) Includes business lines of credit. The loans included above are considered TDRs as a result of the Company implementing one or more of the following concessions: granting a material extension of time, issuing a forbearance agreement, adjusting the interest rate to a below market rate and/or accepting interest only for a period of time or a change in amortization period. Troubled debt restructurings for which there was a payment default within twelve months of restructuring during the three months ended March 31, 2019 totaled $0 for zero contracts and $3,376,000 for three contracts during the three months ended March 31, 2018. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the delinquency status of total loans receivable as of March 31, 2019: Loans Receivable 30-59 Days 60-90 Days Greater Than Total Past Total Loans >90 Days Past Due Past Due 90 Days Due Current Receivable and Accruing (In Thousands) Originated loans: Residential one-to-four family $ 1,223 $ 1,867 $ 1,013 $ 4,103 $ 210,868 $ 214,971 $ - Commercial and multi-family 15,234 - - 15,234 1,557,698 1,572,932 - Construction - - - - 114,462 114,462 - Commercial business (1) 6,259 400 60 6,719 133,384 140,103 - Home equity (2) 101 - 37 138 48,964 49,102 - Consumer - - - - 686 686 - Sub-total: $ 22,817 $ 2,267 $ 1,110 $ 26,194 $ 2,066,062 $ 2,092,256 $ - Acquired loans initially recorded at fair value: Residential one-to-four family $ 601 $ - $ 1,301 $ 1,902 $ 39,931 41,833 $ - Commercial and multi-family 2,949 - 2 2,951 142,771 145,722 - Construction - - - - - - - Commercial business (1) 2,684 377 - 3,061 22,907 25,968 - Home equity (2) 239 279 42 560 17,039 17,599 - Consumer - - - - 45 45 - Sub-total: $ 6,473 $ 656 $ 1,345 $ 8,474 $ 222,693 $ 231,167 $ - Acquired loans with deteriorated credit: Residential one-to-four family $ - $ - $ - $ - $ 1,380 1,380 $ - Commercial and multi-family - - 4,868 4,868 804 5,672 - Commercial business (1) 194 - 53 247 749 996 - Home equity (2) - 46 - 46 199 245 - - Sub-total: $ 194 $ 46 $ 4,921 $ 5,161 $ 3,132 $ 8,293 $ - Total $ 29,484 $ 2,969 $ 7,376 $ 39,829 $ 2,291,887 $ 2,331,716 $ - _________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the delinquency status of total loans receivable at December 31, 2018: Loans Receivable 30-59 Days 60-90 Days Greater Than Total Past Total Loans >90 Days Past Due Past Due 90 Days Due Current Receivable and Accruing (In Thousands) Originated loans: Residential one-to-four family $ 980 $ 1,014 $ 1,452 $ 3,446 $ 209,754 $ 213,200 $ 545 Commercial and multi-family 7,074 299 988 8,361 1,532,405 1,540,766 877 Construction - - - - 106,187 106,187 - Commercial business (1) 1,331 - 349 1,680 135,286 136,966 - Home equity (2) 498 87 - 585 53,686 54,271 - Consumer - - - - 726 726 - Sub-total: $ 9,883 $ 1,400 $ 2,789 $ 14,072 $ 2,038,044 $ 2,052,116 $ 1,422 Acquired loans initially recorded at fair value: Residential one-to-four family $ 1,117 $ 520 $ 1,917 $ 3,554 $ 39,941 43,495 $ - Commercial and multi-family 1,480 78 - 1,558 148,681 150,239 - Construction 594 - - 594 1,002 1,596 - Commercial business (1) 1,876 - 46 1,922 25,451 27,373 - Home equity (2) 682 22 42 746 17,630 18,376 - Consumer - - - - 83 83 - Sub-total: $ 5,749 $ 620 $ 2,005 $ 8,374 $ 232,788 $ 241,162 $ - Acquired loans with deteriorated credit: Residential one-to-four family $ - $ - $ - $ - $ 1,390 $ 1,390 $ - Commercial and multi-family - - 6,012 6,012 820 6,832 - Construction - - - - - - - Commercial business (1) - - 806 806 48 854 - Home equity (2) - - 48 48 200 248 - Consumer - - - - - - - Sub-total: $ - $ - $ 6,866 $ 6,866 $ 2,458 $ 9,324 $ - Total $ 15,632 $ 2,020 $ 11,660 $ 29,312 $ 2,273,290 $ 2,302,602 $ 1,422 (1) Includes business lines of credit. (2) Includes home equity lines of credit. Criticized and Classified Assets . Company policies provide for a classification system for problem assets. Under this classification system, problem assets are classified as “substandard,” “doubtful,” or “loss.” When the Company classifies problem assets, the Company may establish general allowances for loan losses in an amount deemed prudent by management. General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular problem assets. A portion of general loss allowances established to cover possible losses related to assets classified as substandard or doubtful may be included in determining our regulatory capital. Specific valuation allowances for loan losses generally do not qualify as regulatory capital. As of March 31, 2019, we had $0 in assets classified as losses, and $24.0 million in assets classified as substandard, all of which $24.0 million were classified as impaired. The loans classified as substandard represent primarily commercial loans secured either by residential real estate, commercial real estate or heavy equipment. The loans that have been classified substandard were classified as such primarily due to payment status, because updated financial information has not been timely provided, or the collateral underlying the loan is in the process of being revalued. The Company’s internal credit risk grades are based on the definitions currently utilized by the banking regulatory agencies. The grades assigned and definitions are as follows, and loans graded excellent, above average, good and watch list (risk ratings 1-5) are treated as “pass” for grading purposes. The “criticized” risk rating (6) and the “classified” risk ratings (7-9) are detailed below: 6 – Special Mention- Loans currently performing but with potential weaknesses including adverse trends in borrower’s operations, credit quality, financial strength, or possible collateral deficiency. 7 – Substandard - Loans that are inadequately protected by current sound worth, paying capacity, and collateral support. Loans on “nonaccrual” status. The loan needs special and corrective attention. 8 – Doubtful - Weaknesses in credit quality and collateral support make full collection improbable, but pending reasonable factors remain sufficient to defer the loss status. 9 – Loss - Continuance as a bankable asset is not warranted. However, this does not preclude future attempts at partial recovery. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of March 31, 2019. (In thousands): |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2019 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 8 – Stockholders’ Equity On April 17, 2018, the Company issued 631,896 shares of its common stock, 438,889 shares of series E 6% non-cumulative convertible preferred stock and 6,465 shares of series F 6% non-cumulative convertible preferred stock in connection with its acquisition of IA Bancorp, Inc. The series E 6% non-cumulative convertible preferred stock was converted, at the shareholders’ discretion, on July 10, 2018. The series F 6% non-cumulative perpetual convertible preferred stock is convertible at the shareholder’s discretion. On May 16, 2018, the Company issued 82,950 shares of its common stock in connection with the conversion of the 438,889 shares of Series E preferred stock issued in connection with the acquisition of IA Bancorp, Inc. On January 30, 2019, BCB Bancorp, Inc. (the “Company”) closed a private placement of Series G 6.0% Noncumulative Perpetual Preferred Stock, resulting in gross proceeds of $5,330,000 for 533 shares. On February 25, 2019, BCB Bancorp, Inc. (the “Company”) closed a private placement offering of 496,224 shares of its common stock, of which directors and officers of the Company purchased 286,244 shares (the “Offering”). The Offering resulted in gross proceeds of $6.272 million to the Company. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Other Intangible Assets [Abstract] | |
Goodwill and Other Intangible Assets | Note 9 – Goodwill and Other Intangible Assets The Company’s intangible assets consist of goodwill and core deposit intangibles in connection with the acquisition of IA Bancorp, Inc. as of April 17, 2018. The initial recording of goodwill and other intangible assets requires subjective judgments concerning estimates of the fair value of the acquired assets and assumed liabilities. Goodwill is not amortized but is subject to annual tests for impairment or more often if events or circumstances indicate it may be impaired. The Company’s core deposit intangibles are amortized on an accelerated basis using an estimated life of 10 years and in accordance with U.S. GAAP are evaluated annually for impairment. An impairment loss will be recognized if the carrying amount of the intangible asset is not recoverable and exceeds fair value. The carrying amount of the intangible asset is not considered recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset. We believe that the fair values of our intangible assets were in excess of their carrying amounts and therefore there was no impairment to intangible assets at March 31, 2019. Amortization expense of the core deposit intangibles was $19,000 for the three months ended March 31, 2019 . The unamortized balance of the core deposit intangibles and the amount of goodwill at March 31, 2019 were $352,000 and $5.2 million, respectively. |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Values of Financial Instruments | Note 10 – Fair Values of Financial Instruments Guidance on fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3 : Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or no market activity). An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The only assets or liabilities that the Company measured at fair value on a recurring basis were as follows. (In thousands): (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs As of March 31, 2019: Securities Available for Sale Residential mortgage backed securities $ 114,211 $ - $ 114,211 $ - Municipal obligations 3,731 - 3,731 - Total Securities Available for Sale 117,942 - 117,942 - Preferred Stock Equity Investments 7,963 7,963 - - Total Securities Available for Sale $ 7,963 $ 7,963 $ - $ - As of December 31, 2018: Securities Available for Sale Residential mortgage backed securities $ 115,640 $ - $ 115,640 $ - Municipal obligations 3,695 - 3,695 - Total Securities Available for Sale 119,335 - 119,335 - Preferred Stock Equity Investments 7,672 7,672 - - Total Securities $ 7,672 $ 7,672 $ - $ - The Company’s policy is to recognize transfers between levels as of the actual date of the event or change in circumstances that caused the transfer. There were no transfers of assets or liabilities into or out of Level 1, Level 2, or Level 3 of the fair value hierarchy during the three months ended March 31, 2019 and 2018. The only assets or liabilities that the Company measured at fair value on a nonrecurring basis were as follows. (In thousands): (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs As of March 31, 2019 Impaired Loans $ 6,277 $ - $ - $ 6,277 Other real estate owned $ 1,746 $ - $ - $ 1,746 As of December 31, 2018: Impaired Loans $ 7,288 $ - $ - $ 7,288 Other real estate owned $ 1,333 $ - $ - $ 1,333 Note 10 – Fair Values of Financial Instruments (Continued) The following tables present additional quantitative information as of March 31, 2019 and December 31, 2018 about assets measured at fair value on a nonrecurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value. (Dollars in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input March 31, 2019: Impaired Loans $ 6,277 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Other real estate owned $ 1,746 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Fair Value Valuation Unobservable Range Estimate Techniques Input December 31, 2018: Impaired Loans $ 7,288 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Other real estate owned $ 1,333 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not objectively determinable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments as of March 31, 2019 and December 31, 2018. Cash and Cash Equivalents and Interest-Earning Time Deposits (Carried at Cost) The carrying amounts reported in the consolidated statements of financial condition for cash and short-term instruments approximate fair values. Securities Available for Sale The fair value of securities available for sale (carried at fair value) are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Equity Securities The fair values of available-for-sale securities are based on quoted market prices (Level 1). Loans Held for Sale (Carried at Lower of Cost or Fair Value) The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for specific attributes of that loan. Loans held for sale are carried at their cost as of March 31, 2019 and December 31, 2018. Loans Receivable (Carried at Cost) The fair value of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Note 10 – Fair Values of Financial Instruments (Continued) Impaired Loans A loan is impaired when, based on current information and events, it is probable that a creditor will be unable to collect all amounts due according to the original contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or as a practical expedient, at the loans observable market price or the fair value of the collateral if the loan is collateral dependent. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value at March 31, 2019 and December 31, 2018 consisted of the loan balances of $ 7.6 million and $9.5 million, net of a valuation allowance of $1.3 million and $2.2 million, respectively. Real Estate Owned (Generally Carried at Lower of Cost or Fair Value) Real Estate Owned is generally carried at fair value which is determined based upon independent third-party appraisals of the properties, or based upon the expected proceeds from a pending sale. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. FHLB of New York Stock (Carried at Cost) The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities. Interest Receivable and Payable (Carried at Cost) The carrying amount of interest receivable and interest payable approximates its fair value. Deposits (Carried at Cost) The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. Borrowings and Subordinated Debt (Carried at Cost) Fair values are estimated using discounted cash flow analysis, based on quoted prices for new long-term debt with similar credit risk characteristics, terms and remaining maturity. Prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. Off-Balance Sheet Financial Instruments Fair values for the Company’s off-balance sheet financial instruments (lending commitments and unused lines of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these commitments was deemed immaterial and is not presented in the accompanying table. Note 10 – Fair Values of Financial Instruments (Continued) The carrying values and estimated fair values of financial instruments were as follows as of March 31, 2019 and December 31, 2018: As of March 31, 2019 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 193,548 $ 193,548 $ 193,548 $ - $ - Interest-earning time deposits 735 735 735 - - Debt securities available for sale 117,942 117,942 - 117,942 - Equity investments 7,963 7,963 7,963 - - Loans held for sale 1,347 1,347 - 1,347 - Loans receivable, net 2,307,140 2,291,599 - - 2,291,599 FHLB of New York stock, at cost 13,405 13,405 - 13,405 - Accrued interest receivable 9,750 9,750 - 9,750 - Other Real Estate Owned 1,746 1,746 - - 1,746 Financial liabilities: Deposits 2,188,633 2,197,683 1,106,248 1,091,435 - Borrowings 245,800 245,305 - 245,305 - Subordinated debentures 36,635 36,561 - 36,561 - Accrued interest payable 2,297 2,297 - 2,297 - As of December 31, 2018 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 195,264 $ 195,264 $ 195,264 $ - $ - Interest-earning time deposits 735 735 735 - - Debt securities available for sale 119,335 119,335 - 119,335 - Equity investments 7,672 7,672 7,672 - - Loans held for sale 1,153 1,153 - 1,153 - Loans receivable, net 2,278,492 2,245,150 - - 2,245,150 FHLB of New York stock, at cost 13,405 13,405 - 13,405 - Accrued interest receivable 8,378 8,378 - 8,378 - Other Real Estate Owned 1,333 1,333 - - 1,333 Financial liabilities: Deposits 2,180,724 2,189,404 1,075,539 1,113,865 - Borrowings 245,800 244,049 - 244,049 - Subordinated debentures 36,577 36,316 - 36,316 - Accrued interest payable 2,561 2,561 - 2,561 - |
Subordinated Debt
Subordinated Debt | 3 Months Ended |
Mar. 31, 2019 | |
Subordinated Debt [Abstract] | |
Subordinated Debt | Note 11 – Subordinated debt On July 30, 2018, the Company issued $33.5 million of fixed-to-floating rate subordinated debentures (the “Notes”) in a private placement. The Notes have a ten -year term and bear interest at a fixed annual rate of 5.625% for the first five years of the term (the "Fixed Interest Rate Period"). From and including August 1, 2023, the interest rate will adjust to a floating rate based on the three-month LIBOR plus 2.72% . until redemption or maturity (the "Floating Interest Rate Period"). The Notes are scheduled to mature on August 1, 2028. Subject to limited exceptions, the Company cannot redeem the Notes for the first five years of the term. The Company will pay interest in arrears semi-annually during the Fixed Interest Rate Period and quarterly during the Floating Interest Rate Period during the term of the Notes. The Notes constitute an unsecured and subordinated obligation of the Company and rank junior in right of payment to any senior indebtedness and obligations to general and secured creditors. The Notes qualify as Tier 2 capital for the Company for regulatory purposes and the portion that the Company contributes to the Bank will qualify as Tier 1 capital for the Bank. The additional capital will be used for general corporate purposes including organic growth initiatives. Subordinated debt includes associated deferred costs of $989,000 at March 31, 2019. The Company also has $4,124,000 of mandatory redeemable Trust Preferred securities. These interest rate on these floating rate junior subordinated debentures adjusts quarterly. |
Lease Obligations
Lease Obligations | 3 Months Ended |
Mar. 31, 2019 | |
Lease Obligations [Abstract] | |
Lease Obligations | Note 12 – Lease Obligations In February 2016, FASB issued ASU 2016-02, Leases , which requires a lessee to recognize the assets and liabilities that arise from all leases with a term greater than 12 months. The core principle requires the lessee to recognize a liability to make lease payments and a right-of-use (“ROU”) asset. The Company adopted this standard in the first quarter of 2019 using the option to apply the transition provisions of the new standard at the adoption date instead of the earliest period presented as provided in ASU 2018-11. The right-of-use asset and related liability included in the balance sheet at March 31, 2019 were as follows (dollars in thousands): Premises and Equipment, net Other Liabilities Operating Leases $ 15,346 $ 15,381 The Company leases 28 of our offices under various operating lease agreements. The leases have remaining terms of 1 year to 13 years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets. The Company evaluates its contracts and service agreements in order to determine if there is an asset imbedded in such contracts and agreements. Such determination is based upon whether there is a specific asset covered by the agreement, whether the Company is entitled to all of the economic benefits to the asset over the term of the agreement, and whether the Company has full control and use of the asset over the term of the agreement without substitution rights or direction of use of the asset by the lessor. The Company includes in its determination of its lease liability and concurrent right of use asset those renewal or purchase options for which it is reasonably certain it will exercise. Currently, the Company does not expect to exercise such options and, accordingly, they are excluded in the determination of the lease liabilities and the concurrent right of use assets. The Company has elected not to recognize a lease liability and a right of use asset for leases with a lease term of 12 or fewer months. To calculate its lease liabilities, the Company uses a discount rate based upon the applicable borrowing rates of the Federal Home Loan Bank for maturities corresponding to the termination dates of the specific leases . The following table presents certain information related to the Company’s adoption of ASU 2016-02 (in Thousands): Three Months Ended March 31, 2019 Operating lease cost $ 750 Variable lease cost-operating leases $ 132 At March 31, 2019 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 15,991 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets $ 15,346 Current liabilities $ 2,650 Operating lease liabilities (noncurrent portion) 12,731 Total operating lease liabilities $ 15,381 The following tables summarize the Company’s weighted average remaining lease terms and weighted average discount rates: Weighted Average Remaining Lease Term Operating leases 7 years Weighted Average Discount Rate Operating leases 3.15 % The following table summarizes the Company’s maturity of lease obligations for operating and finance leases at March 31, 2019: Maturities of lease liabilities: At March 31, 2019 Operating Leases 2020 $ 3,089 2021 2,947 2022 2,652 2023 2,342 2024 1,662 Thereafter 4,592 Total lease payments 17,284 Less imputed interest (1,903) Total $ 15,381 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13 – Subsequent Events On April 25, 2019, at the Annual Meeting of Shareholders of BCB Bancorp, Inc. (the “Company”), upon the recommendation of the Board of Directors, the shareholders voted on and approved an amendment to the Company’s Restated Certificate of Incorporation to increase the Company’s authorized shares of common stock from 20,000,000 to 40,000,000 and the number of authorized shares of capital stock from 30,000,000 to 50,000,000 (the “Amendment”). |
Acquisition of IA Bancorp, In_2
Acquisition of IA Bancorp, Inc. (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Acquisition of IA Bancorp, Inc. [Abstract] | |
Summary of Acquisition, Consideration Paid and Fair Value of Assets Acquired and Liabilities Assumed | Estimated Fair Value At April 17, 2018 (in thousands) Consideration paid: Common stock issued in acquisition $ 9,952 Cash paid for exchange of IAB shares 2,550 Preferred stock 7,453 Total consideration paid 19,955 Assets acquired: Cash and cash equivalents 7,597 Investment securities available for sale 13,811 Restricted investment in bank stocks 1,163 Loans 182,578 Premises and equipment, net 2,834 Other real estate owned, net 328 Accrued interest receivable 612 Core deposit intangible 430 Deferred tax asset 5,843 Other assets 1,122 Total assets acquired 216,318 Liabilities assumed: Deposits 178,436 Borrowings 20,015 Accrued interest payable 120 Other liabilities 3,024 Total liabilities assumed 201,595 Net assets acquired 14,723 Goodwill recorded in acquisition $ 5,232 |
Summary of Fair Value Adjustments of Loans Acquired | At April 17, 2018 (in thousands) Gross principal balance $ 192,437 Fair value adjustment on pools of homogeneous loans (5,895) Fair value adjustment on acquired impaired loans (3,964) Fair value of acquired loans $ 182,578 |
Summary of Credit Adjustment on Acquired Impaired Loans | At April 17, 2018 (in thousands) Contractually required principal and interest at acquisition $ 18,732 Contractual cash flows not expected to be collected (non-accretable discount, includes principal and interest) (4,750) Expected cash flows at acquisition 13,982 Interest component of expected cash flows (accretable discount) (1,338) Fair value of loans acquired accounted for under ASC 310-30 12,644 |
Schedule of Combined Pro Forma Information | Actual Combined Pro forma Combined Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Interest income $ 30,478 $ 23,534 Interest expense 9,576 5,236 Provision for loan losses 889 1,342 Non-interest income 1,660 3,433 Non-interest expense 13,777 13,395 Income Taxes 2,445 1,997 Net Income 5,451 4,997 Earnings per diluted share $ 0.32 $ 0.32 |
Pension and Other Postretirem_2
Pension and Other Postretirement Plans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Pension and Other Postretirement Plans [Abstract] | |
Summary of Status of Restricted Shares | Number of Shares Awarded Weighted Average Grant Date Fair Value Non-vested at December 31, 2018 67,321 $ 11.26 Granted - Vested - Forfeited - Non-vested at March 31, 2019 67,321 $ 11.26 |
Summary of Stock Option Activity | Number of Option Shares Range of Exercise Prices Weighted Average Exercise Price Outstanding at December 31, 2018 1,104,600 $ 8.93 - 13.32 $ 11.36 Options granted - Options exercised - Options forfeited - Options expired - Outstanding at March 31, 2019 1,104,600 $ 8.93 - 13.32 $ 11.36 Number of Option Shares Range of Exercise Prices Weighted Average Exercise Price Outstanding at December 31, 2017 889,300 $ 8.93-13.32 $ 11.42 Options granted - - - Options exercised (200) 10.55 10.55 Options forfeited - - - Options expired - - - Outstanding at March 31, 2018 889,100 $ 8.93-13.32 $ 10.91 |
Net Income per Common Share (Ta
Net Income per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Net Income per Common Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | For the Three Months Ended March 31, 2019 2018 Income Shares Per Share Income Shares Per Share (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount (In Thousands, except per share data) Net income available to common stockholders $ 5,134 $ 4,466 Basic earnings per share- Income available to Common stockholders $ 5,134 16,078 $ 0.32 $ 4,466 15,048 $ 0.30 Effect of dilutive securities: Stock options - 33 - 133 Diluted earnings per share- Income available to Common stockholders $ 5,134 16,111 $ 0.32 $ 4,466 15,181 $ 0.29 |
Debt Securities Available for_2
Debt Securities Available for Sale (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Debt Securities Available for Sale [Abstract] | |
Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale | March 31, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) Mortgage-backed securities: Due after one year through five years $ 5,553 $ 25 $ 96 $ 5,482 Due after five years through ten years 3,049 31 - 3,080 Due after ten years 107,312 252 1,915 105,649 Municipal obligations: Due within one year 496 - - 496 Due after one year through five years 918 22 - 940 Due after five years through ten years 1,224 34 - 1,258 Due after ten years 1,031 6 - 1,037 $ 119,583 $ 370 $ 2,011 $ 117,942 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In Thousands) Mortgage-backed securities: Due after one year through five years $ 5,613 $ 10 $ 124 $ 5,499 Due after five years through ten years 3,246 2 1 3,247 Due after ten years 110,710 52 3,868 106,894 Municipal obligations: Due within one year 495 - - 495 Due after one year through five years 917 10 - 927 Due after five years through ten years 1225 13 1 1237 Due after ten years 1,036 - - 1,036 $ 123,242 $ 87 $ 3,994 $ 119,335 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | Less than 12 Months More than 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In Thousands) March 31, 2019 Residential mortgage-backed securities $ 2,770 $ 21 $ 83,464 $ 1,990 $ 86,234 $ 2,011 $ 2,770 $ 21 $ 83,464 $ 1,990 $ 86,234 $ 2,011 December 31, 2018 Residential mortgage-backed securities $ 39,289 $ 879 $ 62,860 $ 3,114 $ 102,149 $ 3,993 Municipal obligations 1,879 1 - - 1,879 1 $ 41,168 $ 880 $ 62,860 $ 3,114 $ 104,028 $ 3,994 |
Loans Receivable and Allowanc_2
Loans Receivable and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Loans Receivable and Allowance for Loan Losses [Abstract] | |
Recorded Investment in Loans Receivable | March 31, 2019 December 31, 2018 (In Thousands) Originated loans: Residential one-to-four family $ 214,971 $ 213,200 Commercial and multi-family 1,572,932 1,540,766 Construction 114,462 106,187 Commercial business (1) 140,103 136,966 Home equity (2) 49,102 54,271 Consumer 686 726 Sub-total 2,092,256 2,052,116 Acquired loans initially recorded at fair value: Residential one-to-four family 41,833 43,495 Commercial and multi-family 145,722 150,239 Construction - 1,596 Commercial business (1) 25,968 27,373 Home equity (2) 17,599 18,376 Consumer 45 83 Sub-total 231,167 241,162 Acquired loans with deteriorated credit: Residential one-to-four family 1,380 1,390 Commercial and multi-family 5,672 6,832 Construction - - Commercial business (1) 996 854 Home equity (2) 245 248 Consumer - - Sub-total 8,293 9,324 Total Loans 2,331,716 2,302,602 Less: Deferred loan fees, net (1,572) (1,751) Allowance for loan losses (23,004) (22,359) Sub-total (24,576) (24,110) Total Loans, net $ 2,307,140 $ 2,278,492 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Accretable And Non-Accretable Discount on Loans Acquired | Three months ended March 31, 2019 Three months ended March 31, 2018 (Dollars in thousands) Balance, beginning of Period $ 2,704 $ 2,230 Accretion recorded to interest income (253) (84) Balance, end of Period $ 2,451 $ 2,146 |
Acquired Loans Included In Loans Receivable in Consolidated Statements of Financial Condition | March 31, December 31, 2019 2018 Unpaid principal balance $ 292,628 $ 301,357 Recorded investment 239,460 250,486 |
Allowance for Loan Losses | The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2019. The table also details the amount of total loans receivable, loans receivable that are evaluated individually and collectively for impairment, and the related portion of the allowance for loan losses that is allocated to each loan class, as of March 31, 2019 (In thousands): Residential Commercial & Multi-family Construction Commercial Business (1) Home Equity (2) Consumer Unallocated Total Allowance for loan losses: Originated Loans: $ 2,374 $ 14,000 $ 1,003 $ 3,869 $ 313 $ 2 $ 189 $ 21,750 Acquired loans initially recorded at fair value: 335 - - - - - 335 Acquired loans with deteriorated credit: 39 168 - 64 3 - - 274 Beginning Balance, December 31, 2018 2,748 14,168 1,003 3,933 316 2 189 22,359 Charge-offs: Originated Loans: - 111 - 145 - - - 256 Sub-total: - 111 - 145 - - - 256 Recoveries: Originated Loans: - - - 9 - - - 9 Acquired loans initially recorded at fair value: - - - - 3 - - 3 Sub-total: - - - 9 3 - - 12 Provisions: Originated Loans: 97 1,188 206 (405) (48) (2) (157) 879 Acquired loans initially recorded at fair value: 69 - - - (3) - - 66 Acquired loans with deteriorated credit: (7) (24) - (25) - - - (56) Sub-total: 159 1,164 206 (430) (51) (2) (157) 889 Totals: Originated Loans: 2,471 15,077 1,209 3,328 265 - 32 22,382 Acquired loans initially recorded at fair value: 404 - - - - - - 404 Acquired loans with deteriorated credit: 32 144 - 39 3 - - 218 Ending Balance, March 31, 2019 $ 2,907 $ 15,221 $ 1,209 $ 3,367 $ 268 $ - $ 32 $ 23,004 Loans Receivable: Ending Balance Originated Loans: $ 214,971 $ 1,572,932 $ 114,462 $ 140,103 $ 49,102 $ 686 $ - $ 2,092,256 Ending Balance Acquired loans initially recorded at fair value: 41,833 145,722 - 25,968 17,599 45 - 231,167 Ending Balance Acquired loans with deteriorated credit: 1,380 5,672 - 996 245 - - 8,293 Total Gross Loans: $ 258,184 $ 1,724,326 $ 114,462 $ 167,067 $ 66,946 $ 731 $ - $ 2,331,716 Ending Balance: Loans individually evaluated for impairment: Ending Balance Originated Loans: $ 5,985 $ 11,731 $ - $ 1,482 $ 905 $ - $ - $ 20,103 Ending Balance Acquired loans initially recorded at fair value: 5,657 4,835 - 52 343 - - 10,887 Ending Balance Acquired loans with deteriorated credit: 1,380 5,471 - 759 46 - - 7,656 Ending Balance Loans individually evaluated for impairment: $ 13,022 $ 22,037 $ - $ 2,293 $ 1,294 $ - $ - $ 38,646 Ending Balance: Loans collectively evaluated for impairment: Ending Balance Originated Loans: $ 208,986 $ 1,561,201 $ 114,462 $ 138,621 $ 48,197 $ 686 $ - $ 2,072,153 Ending Balance Acquired loans initially recorded at fair value: 36,176 140,887 - 25,916 17,256 45 - 220,280 Ending Balance Acquired loans with deteriorated credit: - 201 - 237 199 - - 637 Ending Balance Loans collectively evaluated for impairment: $ 245,162 $ 1,702,289 $ 114,462 $ 164,774 $ 65,652 $ 731 $ - $ 2,293,070 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the activity in the Company’s allowance for loan losses for the three months ended March 31, 2018. Residential Commercial & Multi-family Construction Commercial Business (1) Home Equity (2) Consumer Unallocated Total Allowance for credit losses: Originated Loans: $ 2,368 $ 11,656 $ 518 $ 2,018 $ 338 $ 6 $ 177 $ 17,081 Acquired loans initially recorded at fair value: 242 - - - - - - 242 Acquired loans with deteriorated credit: 40 12 - - - - - 52 Beginning Balance, January 1, 2018 2,650 11,668 518 2,018 338 6 177 17,375 Charge-offs: Originated Loans: 302 - - - - - - 302 Acquired loans initially recorded at fair value: 72 - - - 6 - - 78 Sub-total: 374 - - - 6 - - 380 Recoveries: Originated Loans: - - - - - - - - Acquired loans initially recorded at fair value: - - - - - - - - Acquired loans with deteriorated credit: - - - - - - - - Sub-total: - - - - - - - - Provisions: Originated Loans: 179 224 (26) 658 46 (2) 21 1,100 Acquired loans initially recorded at fair value: 199 - - 24 6 - - 229 Acquired loans with deteriorated credit: 13 - - - - - - 13 Sub-total: 391 224 (26) 682 52 (2) 21 1,342 Totals: Originated Loans: 2,245 11,880 492 2,676 384 4 198 17,879 Acquired loans initially recorded at fair value: 369 - - 24 - - - 393 Acquired loans with deteriorated credit: 53 12 - - - - - 65 Ending Balance, March 31, 2018 $ 2,667 $ 11,892 $ 492 $ 2,700 $ 384 $ 4 $ 198 $ 18,337 _____________________________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Non-Accruing Loans | As of March 31, 2019 As of December 31, 2018 (In Thousands) (In Thousands) Non-Accruing Loans: Originated loans: Residential one-to-four family $ 1,415 $ 1,160 Commercial and multi-family 1,364 2,568 Commercial business (1) 256 356 Home equity (2) 272 277 Sub-total: 3,307 4,361 Acquired loans initially recorded at fair value: Residential one-to-four family 1,704 2,165 Commercial and multi-family 597 605 Commercial business (1) - 48 Home equity (2) 62 42 Sub-total: 2,363 2,860 Total $ 5,670 $ 7,221 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Impaired Loans | The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three months ended March 31, 2019 and 2018 (In thousands): Three Months Ended March 31, 2019 2019 2018 2018 Average Interest Average Interest Recorded Income Recorded Income Originated loans Investment Recognized Investment Recognized With no related allowance recorded: Residential one-to-four family $ 3,073 $ 28 $ 1,981 $ 7 Commercial and Multi-family 12,221 134 11,897 77 Commercial business (1) 1,063 42 382 4 Home equity (2) 758 6 897 7 Sub-total: $ 17,115 $ 210 $ 15,157 $ 95 Acquired loans initially recorded at fair value With no related allowance recorded: Residential one-to-four family $ 2,753 $ 25 $ 3,876 $ 30 Commercial and Multi-family 3,946 55 3,793 59 Commercial business (1) 53 1 - - Home equity (2) 230 3 231 - Consumer 11 - - 4 Sub-total $ 6,993 $ 84 $ 7,900 $ 93 Acquired loans with deteriorated credit With no related allowance recorded: Residential one-to-four family (3) $ 1,019 $ 16 $ 1,225 $ 16 Commercial and Multi-family (3) 6,050 6 512 7 Commercial business (1)(3) 785 - - - Home equity (2)(3) 48 - - - Sub-total: $ 7,902 $ 22 $ 1,737 $ 23 Total Impaired Loans With no related allowance recorded: $ 32,010 $ 316 $ 24,794 $ 211 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. (3) Does not include accretable yield on loans acquired with deteriorated credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the average recorded investment and interest income recognized on impaired loans with allowance recorded by portfolio class for the three months ended March 31, 2019 and 2018. (In thousands): Three Months Ended March 31, 2019 2019 2018 2018 Average Interest Average Interest Recorded Income Recorded Income Originated loans Investment Recognized Investment Recognized with an allowance recorded: Residential one-to-four family $ 2,941 $ 25 $ 5,527 $ 57 Commercial and Multi-family 56 - 243 - Commercial business (1) 865 27 1,332 16 Home equity (2) 153 2 157 2 Sub-total: $ 4,015 $ 54 $ 7,259 $ 75 Acquired loans initially recorded at fair value with an allowance recorded: Residential one-to-four family $ 3,146 $ 24 $ 3,580 $ 32 Commercial and Multi-family 912 4 1,093 5 Home equity (2) 84 2 86 1 Sub-total $ 4,142 $ 30 $ 4,759 $ 38 Acquired loans with deteriorated credit with an allowance recorded: Residential one-to-four family $ 366 $ 5 $ 185 $ 5 Sub-total: $ 366 $ 5 $ 185 $ 5 Total Impaired Loans with an allowance recorded: $ 8,523 $ 89 $ 12,203 $ 118 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the recorded investment and unpaid principal balances where there is no related allowance on impaired loans by portfolio class at March 31, 2019 and December 31, 2018. (In thousands): As of March 31, 2019 As of December 31, 2018 Recorded Unpaid Principal Related Recorded Unpaid Principal Related Originated loans Investment Balance Allowance Investment Balance Allowance with no related allowance recorded: Residential one-to-four family $ 3,523 $ 3,577 $ - $ 2,623 $ 2,689 $ - Commercial and multi-family 11,731 12,215 - 12,711 13,308 - Commercial business (1) 1,151 3,743 - 974 3,411 - Home equity (2) 753 772 - 762 779 - Sub-total: $ 17,158 $ 20,307 $ - $ 17,070 $ 20,187 $ - Acquired loans initially recorded at fair value with no related allowance recorded: Residential one-to-four family $ 2,382 $ 2,504 $ - $ 3,123 $ 3,254 $ - Commercial and Multi-family 3,931 3,931 - 3,961 3,961 - Commercial business (1) 52 52 - 53 53 - Home equity (2) 259 263 - 222 222 - Sub-total: $ 6,624 $ 6,750 $ - $ 7,359 $ 7,490 $ - Acquired loans with deteriorated credit with no related allowance recorded: Residential one-to-four family $ 1,015 $ 1,571 $ - $ 1,023 $ 1,579 $ - Commercial and Multi-family 5,471 6,586 - 6,628 7,957 - Commercial business (1) 759 6,210 - 810 6,253 - Home equity (2) 46 54 - 49 57 - Sub-total: $ 7,291 $ 14,421 $ - $ 8,510 $ 15,846 $ - Total Impaired Loans with no related allowance recorded: $ 31,073 $ 41,478 $ - $ 32,939 $ 43,523 $ - __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table summarizes the recorded investment, unpaid principal balance, and the related allowance on impaired loans by portfolio class at March 31, 2019 and December 31, 2018. (In thousands): As of March 31, 2019 As of December 31, 2018 Recorded Unpaid Principal Related Recorded Unpaid Principal Related Originated loans Investment Balance Allowance Investment Balance Allowance with an allowance recorded: Residential one-to-four family $ 2,462 $ 2,467 $ 98 $ 3,420 $ 3,420 $ 229 Commercial and Multi-family - - - 111 153 111 Commercial business (1) 331 1,479 292 1,398 1,549 905 Home equity (2) 152 152 20 153 153 21 Sub-total: $ 2,945 $ 4,098 $ 410 $ 5,082 $ 5,275 $ 1,266 Acquired loans initially recorded at fair value with an allowance recorded: Residential one-to-four family $ 3,275 $ 3,436 $ 513 $ 3,016 $ 3,166 $ 532 Commercial and Multi-family 904 1,087 360 920 1,094 369 Commercial business (1) - - - - - - Home equity (2) 84 84 5 84 84 5 Sub-total $ 4,263 $ 4,607 $ 878 $ 4,020 $ 4,344 $ 906 Acquired loans with deteriorated credit with an allowance recorded: Residential one-to-four family $ 365 $ 413 $ 8 $ 367 $ 414 $ 9 Sub-total: $ 365 $ 413 $ 8 $ 367 $ 414 $ 9 Total Impaired Loans with an allowance recorded: $ 7,573 $ 9,118 $ 1,296 $ 9,469 $ 10,033 $ 2,181 Total Impaired Loans with no related allowance recorded: $ 31,073 $ 41,478 $ - $ 32,939 $ 43,523 $ - Total Impaired Loans: $ 38,646 $ 50,596 $ 1,296 $ 42,408 $ 53,556 $ 2,181 __________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Troubled Debt Restructurings | At March 31, 2019 At December 31, 2018 (In thousands) Recorded investment in TDRs: Accrual status $ 23,059 $ 22,477 Non-accrual status 3,395 4,136 Total recorded investment in TDRs $ 26,454 $ 26,613 The following table summarizes information with regard to troubled debt restructurings which occurred during the three months ended March 31, 2019. Three Months Ended March 31, 2019 (Dollars in Thousands) Pre-Modification Outstanding Post-Modification Outstanding Number of Contracts Recorded Investments Recorded Investments Originated loans: Residential one-to-four family $ 1 $ 181 $ 186 Commercial and multi-family 1 877 1,039 Commercial business (1) 1 145 153 Total $ 3 $ 1,203 $ 1,378 The following table summarizes information with regard to troubled debt restructurings which occurred during the three months ended March 31, 2018. Three Months Ended March 31, 2018 (Dollars in Thousands) Pre-Modification Outstanding Post-Modification Outstanding Number of Contracts Recorded Investments Recorded Investments Originated loans: Residential one-to-four family 1 $ 640 $ 640 Sub-total: 1 $ 640 $ 640 Acquired loans initially recorded at fair value: Residential one-to-four family 1 $ 179 $ 179 Sub-total: 1 $ 179 $ 179 Total 2 $ 819 $ 819 _________ (1) Includes business lines of credit. |
Delinquency Status of Total Loans | Loans Receivable 30-59 Days 60-90 Days Greater Than Total Past Total Loans >90 Days Past Due Past Due 90 Days Due Current Receivable and Accruing (In Thousands) Originated loans: Residential one-to-four family $ 1,223 $ 1,867 $ 1,013 $ 4,103 $ 210,868 $ 214,971 $ - Commercial and multi-family 15,234 - - 15,234 1,557,698 1,572,932 - Construction - - - - 114,462 114,462 - Commercial business (1) 6,259 400 60 6,719 133,384 140,103 - Home equity (2) 101 - 37 138 48,964 49,102 - Consumer - - - - 686 686 - Sub-total: $ 22,817 $ 2,267 $ 1,110 $ 26,194 $ 2,066,062 $ 2,092,256 $ - Acquired loans initially recorded at fair value: Residential one-to-four family $ 601 $ - $ 1,301 $ 1,902 $ 39,931 41,833 $ - Commercial and multi-family 2,949 - 2 2,951 142,771 145,722 - Construction - - - - - - - Commercial business (1) 2,684 377 - 3,061 22,907 25,968 - Home equity (2) 239 279 42 560 17,039 17,599 - Consumer - - - - 45 45 - Sub-total: $ 6,473 $ 656 $ 1,345 $ 8,474 $ 222,693 $ 231,167 $ - Acquired loans with deteriorated credit: Residential one-to-four family $ - $ - $ - $ - $ 1,380 1,380 $ - Commercial and multi-family - - 4,868 4,868 804 5,672 - Commercial business (1) 194 - 53 247 749 996 - Home equity (2) - 46 - 46 199 245 - - Sub-total: $ 194 $ 46 $ 4,921 $ 5,161 $ 3,132 $ 8,293 $ - Total $ 29,484 $ 2,969 $ 7,376 $ 39,829 $ 2,291,887 $ 2,331,716 $ - _________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the delinquency status of total loans receivable at December 31, 2018: Loans Receivable 30-59 Days 60-90 Days Greater Than Total Past Total Loans >90 Days Past Due Past Due 90 Days Due Current Receivable and Accruing (In Thousands) Originated loans: Residential one-to-four family $ 980 $ 1,014 $ 1,452 $ 3,446 $ 209,754 $ 213,200 $ 545 Commercial and multi-family 7,074 299 988 8,361 1,532,405 1,540,766 877 Construction - - - - 106,187 106,187 - Commercial business (1) 1,331 - 349 1,680 135,286 136,966 - Home equity (2) 498 87 - 585 53,686 54,271 - Consumer - - - - 726 726 - Sub-total: $ 9,883 $ 1,400 $ 2,789 $ 14,072 $ 2,038,044 $ 2,052,116 $ 1,422 Acquired loans initially recorded at fair value: Residential one-to-four family $ 1,117 $ 520 $ 1,917 $ 3,554 $ 39,941 43,495 $ - Commercial and multi-family 1,480 78 - 1,558 148,681 150,239 - Construction 594 - - 594 1,002 1,596 - Commercial business (1) 1,876 - 46 1,922 25,451 27,373 - Home equity (2) 682 22 42 746 17,630 18,376 - Consumer - - - - 83 83 - Sub-total: $ 5,749 $ 620 $ 2,005 $ 8,374 $ 232,788 $ 241,162 $ - Acquired loans with deteriorated credit: Residential one-to-four family $ - $ - $ - $ - $ 1,390 $ 1,390 $ - Commercial and multi-family - - 6,012 6,012 820 6,832 - Construction - - - - - - - Commercial business (1) - - 806 806 48 854 - Home equity (2) - - 48 48 200 248 - Consumer - - - - - - - Sub-total: $ - $ - $ 6,866 $ 6,866 $ 2,458 $ 9,324 $ - Total $ 15,632 $ 2,020 $ 11,660 $ 29,312 $ 2,273,290 $ 2,302,602 $ 1,422 (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Loan Portfolio By Pass Rating | Pass Special Mention Substandard Doubtful Loss Total Originated loans: Residential one-to-four family $ 209,888 $ 2,022 $ 3,061 $ - $ - $ 214,971 Commercial and multi-family 1,559,284 4,168 9,480 - - 1,572,932 Construction 113,794 668 - - - 114,462 Commercial business (1) 137,068 1,927 1,108 - - 140,103 Home equity (2) 48,767 63 272 - - 49,102 Consumer 680 6 - - - 686 Sub-total: $ 2,069,481 $ 8,854 $ 13,921 $ - $ - $ 2,092,256 Acquired loans initially recorded at fair value: Residential one-to-four family $ 39,811 $ - $ 2,022 $ - $ - 41,833 Commercial and multi-family 142,221 1,344 2,157 - - 145,722 Construction - - - - - - Commercial business (1) 24,867 1,101 - - - 25,968 Home equity (2) 17,513 - 86 - - 17,599 Consumer 45 - - - - 45 Sub-total: $ 224,457 $ 2,445 $ 4,265 $ - $ - $ 231,167 Acquired loans with deteriorated credit: Residential one-to-four family $ 807 $ 559 $ 14 $ - $ - 1,380 Commercial and multi-family 201 499 4,972 - - 5,672 Construction - - - - - - Commercial business (1) - 237 759 - - 996 Home equity (2) 199 - 46 - - 245 Consumer - - - - - - Sub-total: $ 1,207 $ 1,295 $ 5,791 $ - $ - $ 8,293 Total Gross Loans $ 2,295,145 $ 12,594 $ 23,977 $ - $ - $ 2,331,716 _________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2018. (In thousands): Pass Special Mention Substandard Doubtful Loss Total Originated loans: Residential one-to-four family $ 207,991 $ 2,400 $ 2,809 $ - $ - $ 213,200 Commercial and multi-family 1,526,591 3,608 10,567 - - 1,540,766 Construction 105,886 301 - - - 106,187 Commercial business (1) 133,054 1,923 1,989 - - 136,966 Home equity (2) 53,903 91 277 - - 54,271 Consumer 719 7 - - - 726 Sub-total: $ 2,028,144 $ 8,330 $ 15,642 $ - $ - $ 2,052,116 Acquired loans initially recorded at fair value: Residential one-to-four family $ 41,009 $ 1 $ 2,485 $ - $ - 43,495 Commercial and multi-family 146,701 2,618 920 - - 150,239 Construction 1,596 - - - - 1,596 Commercial business (1) 26,199 1,128 46 - - 27,373 Home equity (2) 18,309 - 67 - - 18,376 Consumer 83 - - - - 83 Sub-total: $ 233,897 $ 3,747 $ 3,518 $ - $ - $ 241,162 Acquired loans with deteriorated credit: Residential one-to-four family $ 812 $ 562 $ 16 $ - $ - 1,390 Commercial and multi-family 204 502 6,126 - - 6,832 Construction - - - - - - Commercial business (1) (4) 48 810 - - 854 Home equity (2) 199 - 49 - - 248 Sub-total: $ 1,211 $ 1,112 $ 7,001 $ - $ - $ 9,324 Total Gross Loans $ 2,263,252 $ 13,189 $ 26,161 $ - $ - $ 2,302,602 ________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value Measurements, Recurring | (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs As of March 31, 2019: Securities Available for Sale Residential mortgage backed securities $ 114,211 $ - $ 114,211 $ - Municipal obligations 3,731 - 3,731 - Total Securities Available for Sale 117,942 - 117,942 - Preferred Stock Equity Investments 7,963 7,963 - - Total Securities Available for Sale $ 7,963 $ 7,963 $ - $ - As of December 31, 2018: Securities Available for Sale Residential mortgage backed securities $ 115,640 $ - $ 115,640 $ - Municipal obligations 3,695 - 3,695 - Total Securities Available for Sale 119,335 - 119,335 - Preferred Stock Equity Investments 7,672 7,672 - - Total Securities $ 7,672 $ 7,672 $ - $ - |
Fair Value Measurements, Nonrecurring | (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs As of March 31, 2019 Impaired Loans $ 6,277 $ - $ - $ 6,277 Other real estate owned $ 1,746 $ - $ - $ 1,746 As of December 31, 2018: Impaired Loans $ 7,288 $ - $ - $ 7,288 Other real estate owned $ 1,333 $ - $ - $ 1,333 |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Range Estimate Techniques Input March 31, 2019: Impaired Loans $ 6,277 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Other real estate owned $ 1,746 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Fair Value Valuation Unobservable Range Estimate Techniques Input December 31, 2018: Impaired Loans $ 7,288 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% Other real estate owned $ 1,333 Appraisal of collateral (1) Appraisal adjustments (2) 0% -10% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not objectively determinable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Carrying Values and Estimated Fair Values of Financial Instruments | As of March 31, 2019 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 193,548 $ 193,548 $ 193,548 $ - $ - Interest-earning time deposits 735 735 735 - - Debt securities available for sale 117,942 117,942 - 117,942 - Equity investments 7,963 7,963 7,963 - - Loans held for sale 1,347 1,347 - 1,347 - Loans receivable, net 2,307,140 2,291,599 - - 2,291,599 FHLB of New York stock, at cost 13,405 13,405 - 13,405 - Accrued interest receivable 9,750 9,750 - 9,750 - Other Real Estate Owned 1,746 1,746 - - 1,746 Financial liabilities: Deposits 2,188,633 2,197,683 1,106,248 1,091,435 - Borrowings 245,800 245,305 - 245,305 - Subordinated debentures 36,635 36,561 - 36,561 - Accrued interest payable 2,297 2,297 - 2,297 - As of December 31, 2018 Quoted Prices in Active Significant Significant Carrying Markets for Identical Assets Other Observable Inputs Unobservable Inputs Value Fair Value (Level 1) (Level 2) (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 195,264 $ 195,264 $ 195,264 $ - $ - Interest-earning time deposits 735 735 735 - - Debt securities available for sale 119,335 119,335 - 119,335 - Equity investments 7,672 7,672 7,672 - - Loans held for sale 1,153 1,153 - 1,153 - Loans receivable, net 2,278,492 2,245,150 - - 2,245,150 FHLB of New York stock, at cost 13,405 13,405 - 13,405 - Accrued interest receivable 8,378 8,378 - 8,378 - Other Real Estate Owned 1,333 1,333 - - 1,333 Financial liabilities: Deposits 2,180,724 2,189,404 1,075,539 1,113,865 - Borrowings 245,800 244,049 - 244,049 - Subordinated debentures 36,577 36,316 - 36,316 - Accrued interest payable 2,561 2,561 - 2,561 - |
Lease Obligations (Tables)
Lease Obligations (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Lease Obligations [Abstract] | |
Right-of-Use Asset and Related Liability | Premises and Equipment, net Other Liabilities Operating Leases $ 15,346 $ 15,381 |
Schedule of Lease Information | Three Months Ended March 31, 2019 Operating lease cost $ 750 Variable lease cost-operating leases $ 132 At March 31, 2019 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 15,991 Supplemental balance sheet information related to leases: Operating Leases Operating lease right-of-use assets $ 15,346 Current liabilities $ 2,650 Operating lease liabilities (noncurrent portion) 12,731 Total operating lease liabilities $ 15,381 |
Summary of Lease Terms and Discount Rate | Weighted Average Remaining Lease Term Operating leases 7 years Weighted Average Discount Rate Operating leases 3.15 % |
Summary of Maturity of Operating and Finance Leases | Maturities of lease liabilities: At March 31, 2019 Operating Leases 2020 $ 3,089 2021 2,947 2022 2,652 2023 2,342 2024 1,662 Thereafter 4,592 Total lease payments 17,284 Less imputed interest (1,903) Total $ 15,381 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) - USD ($) | Jan. 01, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 |
Basis Of Presentation [Line Items] | ||||
Unrealized gain (loss) on equity investments | $ 291,000 | $ (127,000) | ||
Accounting Standards Update 2016-01 [Member] | ||||
Basis Of Presentation [Line Items] | ||||
Reclassification of unrealized gains on AFS equity securities | $ 126,000 | |||
Unrealized gain on equity securities | $ 175,000 | |||
Unrealized gain on equity securities, tax | $ 49,000 | |||
Unrealized gain (loss) on equity investments | $ 291,000 |
Acquisition of IA Bancorp, In_3
Acquisition of IA Bancorp, Inc. (Narrative) (Details) | Apr. 17, 2018item | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2019USD ($) |
Business Acquisition [Line Items] | ||||
Amortization expense | $ 19,000 | |||
Merger related costs | $ 145,000 | |||
Core Deposit Intangibles [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangible asset, useful life | 10 years | |||
Amortization expense | $ 78,000 | |||
Certificates of Deposit [Member] | ||||
Business Acquisition [Line Items] | ||||
Amortization period of fair value adjustment | 5 years | |||
IA Bancorp [Member] | ||||
Business Acquisition [Line Items] | ||||
Share exchange rate | 0.189 | |||
Fair value adjustment on pools of homogeneous loans, interest rate discount | $ 1,900,000 | |||
Number of series of shares issued | item | 2 | |||
Number of series of shares acquired | item | 2 | |||
Fair value adjustment on pools of homogeneous loans, credit discount | 3,900,000 | |||
Merger related costs | 145,000 | |||
IA Bancorp [Member] | Certificates of Deposit [Member] | ||||
Business Acquisition [Line Items] | ||||
Fair value adjustment, liabilities | $ 751,000 |
Acquisition of IA Bancorp, In_4
Acquisition of IA Bancorp, Inc. (Summary of Acquisition, Consideration Paid and Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($) | Apr. 17, 2018 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||
Goodwill recorded in acquisition | $ 5,200,000 | |
IA Bancorp [Member] | ||
Business Acquisition [Line Items] | ||
Stock issued in acquisition | $ 631,896 | |
Cash paid for exchange of IAB shares | 2,550,000 | |
Total consideration paid | 19,955,000 | |
Cash and cash equivalents | 7,597,000 | |
Investment securities available for sale | 13,811,000 | |
Restricted investment in bank stocks | 1,163,000 | |
Loans | 182,578,000 | |
Premises and equipment, net | 2,834,000 | |
Other real estate owned, net | 328,000 | |
Accrued interest receivable | 612,000 | |
Core deposit intangible | 430,000 | |
Deferred tax asset | 5,843,000 | |
Other assets | 1,122,000 | |
Total assets acquired | 216,318,000 | |
Deposits | 178,436,000 | |
Borrowings | 20,015,000 | |
Accrued interest payable | 120,000 | |
Other liabilities | 3,024,000 | |
Total liabilities assumed | 201,595,000 | |
Net assets acquired | 14,723,000 | |
Goodwill recorded in acquisition | 5,232,000 | |
IA Bancorp [Member] | Common Stock [Member] | ||
Business Acquisition [Line Items] | ||
Stock issued in acquisition | 9,952,000 | |
IA Bancorp [Member] | Preferred Stock [Member] | ||
Business Acquisition [Line Items] | ||
Stock issued in acquisition | $ 7,453,000 |
Acquisition of IA Bancorp, In_5
Acquisition of IA Bancorp, Inc. (Summary of Fair Value Adjustments of Loans Acquired) (Details) - IA Bancorp [Member] $ in Thousands | Apr. 17, 2018USD ($) |
Business Acquisition [Line Items] | |
Gross principle balance | $ 192,437 |
Fair value adjustment on pools of homogeneous loans | (5,895) |
Fair value adjustment on acquired impaired loans | (3,964) |
Fair value of acquired loans | $ 182,578 |
Acquisition of IA Bancorp, In_6
Acquisition of IA Bancorp, Inc. (Summary of Credit Adjustment on Acquired Impaired Loans) (Details) - IA Bancorp [Member] $ in Thousands | Mar. 31, 2019USD ($) |
Business Acquisition [Line Items] | |
Contractually required principal and interest at acquisition | $ 18,732 |
Contractual cash flows not expected to be collected (non-accretable discount, includes principal and interest) | (4,750) |
Expected cash flows at acquisition | 13,982 |
Interest component of expected cash flows (accretable discount) | 1,338 |
Fair value of loans acquired accounted for under ASC 310-30 | $ 12,644 |
Acquisition of IA Bancorp, In_7
Acquisition of IA Bancorp, Inc. (Schedule of Combined Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Acquisition of IA Bancorp, Inc. [Abstract] | ||
Interest income | $ 30,478 | $ 23,534 |
Interest Expense | 9,576 | 5,236 |
Provision for loan losses | 889 | 1,342 |
Non-interest income | 1,660 | 3,433 |
Non-interest expense | 13,777 | 13,395 |
Income Taxes | 2,445 | 1,997 |
Net Income | $ 5,451 | $ 4,997 |
Earnings per diluted share | $ 0.32 | $ 0.32 |
Pension and Other Postretirem_3
Pension and Other Postretirement Plans (Narrative) (Details) - USD ($) | Dec. 14, 2018 | Sep. 13, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |||||
Options granted | |||||
Granted and exercisable stock options | 268,633 | 183,867 | |||
Shares underlying unexercised options | 835,967 | 705,233 | |||
Expected future expenses relating to non-vested restricted shares | $ 624,000 | ||||
Expected future compensation expense, unexercised options | $ 1,600,000 | $ 1,500,000 | |||
Expected future compensation expense, weighted average period for recognition | 5 years 2 months 16 days | 7 years 2 months 5 days | |||
Restricted Stock [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Expected future compensation expense, weighted average period for recognition | 1 year 8 months 16 days | ||||
2018 Equity Incentive Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Shares authorized for issuance | 1,000,000 | ||||
2011 Stock Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Shares authorized for issuance | 900,000 | ||||
Supplemental Employee Retirement Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Normal retirement age | 65 years | ||||
Retirement benefit as percentage of compensation | 75.00% | ||||
Net periodic pension/postretirement cost (benefit) | $ 3,000 | ||||
Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Net periodic pension/postretirement cost (benefit) | $ 40,000 | $ (10,000) | |||
Directors [Member] | 2018 Equity Incentive Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Options granted | 300,000 | ||||
Vesting period | 2 years | ||||
Directors [Member] | 2018 Equity Incentive Plan [Member] | Restricted Stock [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Restricted stock issued | 54,000 | ||||
Vesting period | 2 years | ||||
Directors [Member] | 2011 Stock Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Options granted | 275,000 | ||||
Vesting period | 10 years | ||||
Directors [Member] | Tranche 1 And 2 [Member] | 2018 Equity Incentive Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Vesting percentage | 50.00% | ||||
Directors [Member] | Tranche 1 - 10 [Member] | 2011 Stock Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Vesting percentage | 10.00% | ||||
Executive Officers [Member] | 2018 Equity Incentive Plan [Member] | Restricted Stock [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Restricted stock issued | 13,321 | ||||
Vesting period | 2 years | ||||
Employees [Member] | 2011 Stock Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Options granted | 75,000 | ||||
Employees [Member] | Tranche 1 - 5 [Member] | 2011 Stock Plan [Member] | Options [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Vesting percentage | 20.00% |
Pension and Other Postretirem_4
Pension and Other Postretirement Plans (Summary Of Restricted Stock Activity) (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Pension and Other Postretirement Plans [Abstract] | ||
Number of Shares Awarded, Non-vested at beginning of period | 67,321 | |
Number of Shares Awarded, Granted | ||
Number of Shares Awarded, Vested | ||
Number of Shares Awarded, Forfeited | ||
Number of Shares Awarded, Non-vested at end of period | 67,321 | |
Weighted Average Grant Date Fair Value, Non-vested | $ 11.26 | $ 11.26 |
Pension and Other Postretirem_5
Pension and Other Postretirement Plans (Summary of Stock Option Activity) (Details) - $ / shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding, Beginning Balance - Number of Option Shares | 1,104,600 | 889,300 | 889,300 | |
Options Granted - Number of Option Shares | ||||
Options Exercised - Number of Option Shares | (200) | |||
Options Forfeited - Number of Option Shares | ||||
Options Expired - Number of Option Shares | ||||
Outstanding, Ending Balance - Number of Option Shares | 1,104,600 | 889,100 | 1,104,600 | 889,300 |
Outstanding Option Shares, Range of Exercise Prices, Lower Range Limit | $ 8.93 | $ 8.93 | $ 8.93 | $ 8.93 |
Outstanding Option Shares, Range of Exercise Prices, Upper Range Limit | 13.32 | 13.32 | 13.32 | 13.32 |
Options Exercised - Exercise Price | 10.55 | |||
Outstanding Option Shares, Beginning Balance - Weighted Average Exercise Price | 11.36 | 11.42 | 11.42 | |
Option Shares Exercised - Weighted Average Exercise Price | 10.55 | |||
Outstanding Option Shares, Ending Balance - Weighted Average Exercise Price | $ 11.36 | $ 10.91 | $ 11.36 | $ 11.42 |
Net Income per Common Share (Na
Net Income per Common Share (Narrative) (Details) - shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Anti-dilutive outstanding options | 21,026 | 1,388 | |
Preferred stock, shares outstanding | 8,340 | 7,807 | |
Series F Preferred Stock [Member] | |||
Preferred stock, shares outstanding | 6,465 | ||
Preferred stock, dividend rate | 6.00% | 6.00% |
Net Income per Common Share (Sc
Net Income per Common Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net Income per Common Share [Abstract] | ||
Net income available to common stockholders | $ 5,134 | $ 4,466 |
Basic earnings per share - Income available to Common stockholders | 5,134 | 4,466 |
Diluted earnings per share- Income available to Common stockholders | $ 5,134 | $ 4,466 |
Basic earnings per share- Income available to Common stockholders, Shares | 16,078 | 15,048 |
Effect of dilutive securities: Stock options: Shares | 33 | 133 |
Diluted earnings per share- Income available to Common stockholders, Shares | 16,111 | 15,181 |
Basic earnings per share - Income available to Common stockholders | $ 0.32 | $ 0.30 |
Diluted earnings per share - Income available to Common stockholders | $ 0.32 | $ 0.29 |
Debt Securities Available for_3
Debt Securities Available for Sale (Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Amortized Cost | $ 119,583 | $ 123,242 |
Debt securities: Gross Unrealized Gains | 370 | 87 |
Debt securities: Gross Unrealized Losses | 2,011 | 3,994 |
Debt securities: Fair Value | 117,942 | 119,335 |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities, Due after one year through five years, Amortized Cost | 5,553 | 5,613 |
Debt securities, Due after five years through ten years, Amortized Cost | 3,049 | 3,246 |
Debt securities, Due after ten years, Amortized Cost | 107,312 | 110,710 |
Debt securities, Due after one year through five years, Gross Unrealized Gains | 25 | 10 |
Debt securities: Due after five years through ten years, Gross Unrealized Gains | 31 | 2 |
Debt securities, Due after ten years, Gross Unrealized Gains | 252 | 52 |
Debt securities: Due after one year through five years, Gross Unrealized Losses | 96 | 124 |
Debt securities: Due after five years through ten years, Gross Unrealized Losses | 1 | |
Debt securities: Due after ten years, Gross Unrealized Losses | 1,915 | 3,868 |
Debt securities: Due after one year through five years, Fair Value | 5,482 | 5,499 |
Debt securities: Due after five years through ten years, Fair Value | 3,080 | 3,247 |
Debt securities: Due after ten years, Fair Value | 105,649 | 106,894 |
Municipal Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities, Due within one year, Amortized Cost | 496 | 495 |
Debt securities, Due after one year through five years, Amortized Cost | 918 | 917 |
Debt securities, Due after five years through ten years, Amortized Cost | 1,224 | 1,225 |
Debt securities, Due after ten years, Amortized Cost | 1,031 | 1,036 |
Debt securities, Due after one year through five years, Gross Unrealized Gains | 22 | 10 |
Debt securities: Due after five years through ten years, Gross Unrealized Gains | 34 | 13 |
Debt securities, Due after ten years, Gross Unrealized Gains | 6 | |
Debt securities: Due after five years through ten years, Gross Unrealized Losses | 1 | |
Debt securities: Due within one year, Fair Value | 496 | 495 |
Debt securities: Due after one year through five years, Fair Value | 940 | 927 |
Debt securities: Due after five years through ten years, Fair Value | 1,258 | 1,237 |
Debt securities: Due after ten years, Fair Value | $ 1,037 | $ 1,036 |
Debt Securities Available For_4
Debt Securities Available For Sale (Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value ) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Less than 12 Months - Fair Value | $ 2,770 | $ 41,168 |
Debt Securities, More than 12 Months - Fair Value | 83,464 | 62,860 |
Debt and Equity Securities - Total Fair Value | 86,234 | 104,028 |
Debt and Equity Securities, Less than 12 Months - Unrealized Losses | 21 | 880 |
Debt and Equity Securities, More than 12 Months - Unrealized Losses | 1,990 | 3,114 |
Debt and Equity Securities - Total Unrealized Losses | 2,011 | 3,994 |
Mortgage-backed securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Less than 12 Months - Fair Value | 2,770 | 39,289 |
Debt Securities, More than 12 Months - Fair Value | 83,464 | 62,860 |
Debt and Equity Securities - Total Fair Value | 86,234 | 102,149 |
Debt and Equity Securities, Less than 12 Months - Unrealized Losses | 21 | 879 |
Debt and Equity Securities, More than 12 Months - Unrealized Losses | 1,990 | 3,114 |
Debt and Equity Securities - Total Unrealized Losses | $ 2,011 | 3,993 |
Municipal Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Less than 12 Months - Fair Value | 1,879 | |
Debt and Equity Securities - Total Fair Value | 1,879 | |
Debt and Equity Securities, Less than 12 Months - Unrealized Losses | 1 | |
Debt and Equity Securities - Total Unrealized Losses | $ 1 |
Loans Receivable and Allowanc_3
Loans Receivable and Allowance for Loan Losses (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2019USD ($)loan | Mar. 31, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Non-accrual loans | $ 5,670,000 | $ 7,221,000 | |
Recorded Investment, Subsequent Default | $ 0 | $ 3,376,000 | |
Number of Contracts, Subsequent Default | loan | 0 | 3 | |
Loss [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing receivables | $ 0 | ||
Substandard [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing receivables | 24,000,000 | ||
Substandard [Member] | Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing receivables | 24,000,000 | ||
Acquired loans with deteriorated credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans | 6,200,000 | ||
Allowance for loans acquired | 1,000,000 | ||
Non-accrual loans | $ 5,800,000 | $ 7,000,000 |
Loans Receivable and Allowanc_4
Loans Receivable and Allowance for Loan Losses (Recorded Investment in Loans Receivable) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | $ 2,331,716 | $ 2,302,602 |
Deferred loan fees, net | (1,572) | (1,751) |
Allowance for loan losses | (23,004) | (22,359) |
Total deductions from gross loans | (24,576) | (24,110) |
Net Loans | 2,307,140 | 2,278,492 |
Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 258,184 | |
Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,724,326 | |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 114,462 | |
Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 167,067 | |
Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 66,946 | |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 731 | |
Originated loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,092,256 | 2,052,116 |
Originated loans [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 214,971 | 213,200 |
Originated loans [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,572,932 | 1,540,766 |
Originated loans [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 114,462 | 106,187 |
Originated loans [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 140,103 | 136,966 |
Originated loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 49,102 | 54,271 |
Originated loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 686 | 726 |
Acquired loans recorded at fair value [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 231,167 | 241,162 |
Acquired loans recorded at fair value [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 41,833 | 43,495 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 145,722 | 150,239 |
Acquired loans recorded at fair value [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,596 | |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 25,968 | 27,373 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 17,599 | 18,376 |
Acquired loans recorded at fair value [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 45 | 83 |
Acquired loans with deteriorated credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 8,293 | 9,324 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,380 | 1,390 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 5,672 | 6,832 |
Acquired loans with deteriorated credit [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | ||
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 996 | 854 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 245 | $ 248 |
Acquired loans with deteriorated credit [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross |
Loans Receivable and Allowanc_5
Loans Receivable and Allowance for Loan Losses (Accretable And Non-Accretable Discount on Loans Acquired) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Loans Receivable and Allowance for Loan Losses [Abstract] | ||
Accretable yield, beginning balance | $ 2,704 | $ 2,230 |
Accretable yield amortized to interest income | (253) | (84) |
Accretableyield, ending balance | $ 2,451 | $ 2,146 |
Loans Receivable and Allowanc_6
Loans Receivable and Allowance for Loan Losses (Acquired Loans Included In Loans Receivable in Consolidated Statements of Financial Condition) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Loans Receivable and Allowance for Loan Losses [Abstract] | ||
Unpaid principle balance | $ 292,628 | $ 301,357 |
Recorded investment | $ 239,460 | $ 250,486 |
Loans Receivable and Allowanc_7
Loans Receivable and Allowance for Loan Losses (Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | $ 22,359 | $ 17,375 | |
Allowance for loan losses: Charge-offs | 256 | 380 | |
Allowance for loan losses: Recoveries | 12 | ||
Allowance for loan losses: Provisions | 889 | 1,342 | |
Allowance for loan losses: Ending Balance | 23,004 | 18,337 | |
Loans receivables: Ending balance | 2,331,716 | $ 2,302,602 | |
Loans receivables: Ending balance: individually evaluated for impairment | 38,646 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 2,293,070 | ||
Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 2,748 | 2,650 | |
Allowance for loan losses: Charge-offs | 374 | ||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 159 | 391 | |
Allowance for loan losses: Ending Balance | 2,907 | 2,667 | |
Loans receivables: Ending balance | 258,184 | ||
Loans receivables: Ending balance: individually evaluated for impairment | 13,022 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 245,162 | ||
Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 14,168 | 11,668 | |
Allowance for loan losses: Charge-offs | 111 | ||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 1,164 | 224 | |
Allowance for loan losses: Ending Balance | 15,221 | 11,892 | |
Loans receivables: Ending balance | 1,724,326 | ||
Loans receivables: Ending balance: individually evaluated for impairment | 22,037 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 1,702,289 | ||
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 1,003 | 518 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 206 | (26) | |
Allowance for loan losses: Ending Balance | 1,209 | 492 | |
Loans receivables: Ending balance | 114,462 | ||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | 114,462 | ||
Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 3,933 | 2,018 | |
Allowance for loan losses: Charge-offs | 145 | ||
Allowance for loan losses: Recoveries | 9 | ||
Allowance for loan losses: Provisions | (430) | 682 | |
Allowance for loan losses: Ending Balance | 3,367 | 2,700 | |
Loans receivables: Ending balance | 167,067 | ||
Loans receivables: Ending balance: individually evaluated for impairment | 2,293 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 164,774 | ||
Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 316 | 338 | |
Allowance for loan losses: Charge-offs | 6 | ||
Allowance for loan losses: Recoveries | 3 | ||
Allowance for loan losses: Provisions | (51) | 52 | |
Allowance for loan losses: Ending Balance | 268 | 384 | |
Loans receivables: Ending balance | 66,946 | ||
Loans receivables: Ending balance: individually evaluated for impairment | 1,294 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 65,652 | ||
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 2 | 6 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | (2) | (2) | |
Allowance for loan losses: Ending Balance | 4 | ||
Loans receivables: Ending balance | 731 | ||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | 731 | ||
Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 189 | 177 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | (157) | 21 | |
Allowance for loan losses: Ending Balance | 32 | 198 | |
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Originated loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 21,750 | 17,081 | |
Allowance for loan losses: Charge-offs | 256 | 302 | |
Allowance for loan losses: Recoveries | 9 | ||
Allowance for loan losses: Provisions | 879 | 1,100 | |
Allowance for loan losses: Ending Balance | 22,382 | 17,879 | |
Loans receivables: Ending balance | 2,092,256 | 2,052,116 | |
Loans receivables: Ending balance: individually evaluated for impairment | 20,103 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 2,072,153 | ||
Originated loans [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 2,374 | 2,368 | |
Allowance for loan losses: Charge-offs | 302 | ||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 97 | 179 | |
Allowance for loan losses: Ending Balance | 2,471 | 2,245 | |
Loans receivables: Ending balance | 214,971 | 213,200 | |
Loans receivables: Ending balance: individually evaluated for impairment | 5,985 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 208,986 | ||
Originated loans [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 14,000 | 11,656 | |
Allowance for loan losses: Charge-offs | 111 | ||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 1,188 | 224 | |
Allowance for loan losses: Ending Balance | 15,077 | 11,880 | |
Loans receivables: Ending balance | 1,572,932 | 1,540,766 | |
Loans receivables: Ending balance: individually evaluated for impairment | 11,731 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 1,561,201 | ||
Originated loans [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 1,003 | 518 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 206 | (26) | |
Allowance for loan losses: Ending Balance | 1,209 | 492 | |
Loans receivables: Ending balance | 114,462 | 106,187 | |
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | 114,462 | ||
Originated loans [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 3,869 | 2,018 | |
Allowance for loan losses: Charge-offs | 145 | ||
Allowance for loan losses: Recoveries | 9 | ||
Allowance for loan losses: Provisions | (405) | 658 | |
Allowance for loan losses: Ending Balance | 3,328 | 2,676 | |
Loans receivables: Ending balance | 140,103 | 136,966 | |
Loans receivables: Ending balance: individually evaluated for impairment | 1,482 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 138,621 | ||
Originated loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 313 | 338 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | (48) | 46 | |
Allowance for loan losses: Ending Balance | 265 | 384 | |
Loans receivables: Ending balance | 49,102 | 54,271 | |
Loans receivables: Ending balance: individually evaluated for impairment | 905 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 48,197 | ||
Originated loans [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 2 | 6 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | (2) | (2) | |
Allowance for loan losses: Ending Balance | 4 | ||
Loans receivables: Ending balance | 686 | 726 | |
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | 686 | ||
Originated loans [Member] | Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 189 | 177 | |
Allowance for loan losses: Charge-offs | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | (157) | 21 | |
Allowance for loan losses: Ending Balance | 32 | 198 | |
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans recorded at fair value [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 335 | 242 | |
Allowance for loan losses: Charge-offs | 78 | ||
Allowance for loan losses: Recoveries | 3 | ||
Allowance for loan losses: Provisions | 66 | 229 | |
Allowance for loan losses: Ending Balance | 404 | 393 | |
Loans receivables: Ending balance | 231,167 | 241,162 | |
Loans receivables: Ending balance: individually evaluated for impairment | 10,887 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 220,280 | ||
Acquired loans recorded at fair value [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 335 | 242 | |
Allowance for loan losses: Charge-offs | 72 | ||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 69 | 199 | |
Allowance for loan losses: Ending Balance | 404 | 369 | |
Loans receivables: Ending balance | 41,833 | 43,495 | |
Loans receivables: Ending balance: individually evaluated for impairment | 5,657 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 36,176 | ||
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | 145,722 | 150,239 | |
Loans receivables: Ending balance: individually evaluated for impairment | 4,835 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 140,887 | ||
Acquired loans recorded at fair value [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | 1,596 | ||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | 24 | ||
Allowance for loan losses: Ending Balance | 24 | ||
Loans receivables: Ending balance | 25,968 | 27,373 | |
Loans receivables: Ending balance: individually evaluated for impairment | 52 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 25,916 | ||
Acquired loans recorded at fair value [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Charge-offs | 6 | ||
Allowance for loan losses: Recoveries | 3 | ||
Allowance for loan losses: Provisions | (3) | 6 | |
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | 17,599 | 18,376 | |
Loans receivables: Ending balance: individually evaluated for impairment | 343 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 17,256 | ||
Acquired loans recorded at fair value [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | 45 | 83 | |
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | 45 | ||
Acquired loans recorded at fair value [Member] | Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Recoveries | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans with deteriorated credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 274 | 52 | |
Allowance for loan losses: Provisions | (56) | 13 | |
Allowance for loan losses: Ending Balance | 218 | 65 | |
Loans receivables: Ending balance | 8,293 | 9,324 | |
Loans receivables: Ending balance: individually evaluated for impairment | 7,656 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 637 | ||
Acquired loans with deteriorated credit [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 39 | 40 | |
Allowance for loan losses: Provisions | (7) | 13 | |
Allowance for loan losses: Ending Balance | 32 | 53 | |
Loans receivables: Ending balance | 1,380 | 1,390 | |
Loans receivables: Ending balance: individually evaluated for impairment | 1,380 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 168 | 12 | |
Allowance for loan losses: Provisions | (24) | ||
Allowance for loan losses: Ending Balance | 144 | $ 12 | |
Loans receivables: Ending balance | 5,672 | 6,832 | |
Loans receivables: Ending balance: individually evaluated for impairment | 5,471 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 201 | ||
Acquired loans with deteriorated credit [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 64 | ||
Allowance for loan losses: Provisions | (25) | ||
Allowance for loan losses: Ending Balance | 39 | ||
Loans receivables: Ending balance | 996 | 854 | |
Loans receivables: Ending balance: individually evaluated for impairment | 759 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 237 | ||
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | 3 | ||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | 3 | ||
Loans receivables: Ending balance | 245 | $ 248 | |
Loans receivables: Ending balance: individually evaluated for impairment | 46 | ||
Loans receivables: Ending balance: collectively evaluated for impairment | 199 | ||
Acquired loans with deteriorated credit [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment | |||
Acquired loans with deteriorated credit [Member] | Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Allowance for loan losses: Beginning Balance | |||
Allowance for loan losses: Provisions | |||
Allowance for loan losses: Ending Balance | |||
Loans receivables: Ending balance | |||
Loans receivables: Ending balance: individually evaluated for impairment | |||
Loans receivables: Ending balance: collectively evaluated for impairment |
Loans Receivable and Allowanc_8
Loans Receivable and Allowance for Loan Losses (Non-Accruing Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 5,670 | $ 7,221 |
Loans Receivable >90 Days and Accruing | 1,422 | |
Originated loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 3,307 | 4,361 |
Loans Receivable >90 Days and Accruing | 1,422 | |
Originated loans [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 1,415 | 1,160 |
Loans Receivable >90 Days and Accruing | 545 | |
Originated loans [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 1,364 | 2,568 |
Loans Receivable >90 Days and Accruing | 877 | |
Originated loans [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Originated loans [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 256 | 356 |
Loans Receivable >90 Days and Accruing | ||
Originated loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 272 | 277 |
Loans Receivable >90 Days and Accruing | ||
Originated loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 2,363 | 2,860 |
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 1,704 | 2,165 |
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 597 | 605 |
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 62 | 42 |
Loans Receivable >90 Days and Accruing | ||
Acquired loans recorded at fair value [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | 5,800 | 7,000 |
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing | ||
Acquired loans with deteriorated credit [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable >90 Days and Accruing |
Loans Receivable and Allowanc_9
Loans Receivable and Allowance for Loan Losses (Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | $ 32,010 | $ 24,794 | |
Average Recorded Investment - With an allowance recorded | 8,523 | 12,203 | |
Interest Income Recognized - With no related allowance recorded | 316 | 211 | |
Interest Income Recognized - With an allowance recorded | 89 | 118 | |
Recorded Investment - With no related allowance recorded | 31,073 | $ 32,939 | |
Recorded Investment - With an allowance recorded | 7,573 | 9,469 | |
Recorded Investment - Total | 38,646 | 42,408 | |
Unpaid Principal Balance - With no related allowance recorded | 41,478 | 43,523 | |
Unpaid Principal Balance - With an allowance recorded | 9,118 | 10,033 | |
Unpaid Principal Balance - Total | 50,596 | 53,556 | |
Related Allowance | 1,296 | 2,181 | |
Originated loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 17,115 | 15,157 | |
Average Recorded Investment - With an allowance recorded | 4,015 | 7,259 | |
Interest Income Recognized - With no related allowance recorded | 210 | 95 | |
Interest Income Recognized - With an allowance recorded | 54 | 75 | |
Recorded Investment - With no related allowance recorded | 17,158 | 17,070 | |
Recorded Investment - With an allowance recorded | 2,945 | 5,082 | |
Unpaid Principal Balance - With no related allowance recorded | 20,307 | 20,187 | |
Unpaid Principal Balance - With an allowance recorded | 4,098 | 5,275 | |
Related Allowance | 410 | 1,266 | |
Originated loans [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 3,073 | 1,981 | |
Average Recorded Investment - With an allowance recorded | 2,941 | 5,527 | |
Interest Income Recognized - With no related allowance recorded | 28 | 7 | |
Interest Income Recognized - With an allowance recorded | 25 | 57 | |
Recorded Investment - With no related allowance recorded | 3,523 | 2,623 | |
Recorded Investment - With an allowance recorded | 2,462 | 3,420 | |
Unpaid Principal Balance - With no related allowance recorded | 3,577 | 2,689 | |
Unpaid Principal Balance - With an allowance recorded | 2,467 | 3,420 | |
Related Allowance | 98 | 229 | |
Originated loans [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 12,221 | 11,897 | |
Average Recorded Investment - With an allowance recorded | 56 | 243 | |
Interest Income Recognized - With no related allowance recorded | 134 | 77 | |
Recorded Investment - With no related allowance recorded | 11,731 | 12,711 | |
Recorded Investment - With an allowance recorded | 111 | ||
Unpaid Principal Balance - With no related allowance recorded | 12,215 | 13,308 | |
Unpaid Principal Balance - With an allowance recorded | 153 | ||
Related Allowance | 111 | ||
Originated loans [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 1,063 | 382 | |
Average Recorded Investment - With an allowance recorded | 865 | 1,332 | |
Interest Income Recognized - With no related allowance recorded | 42 | 4 | |
Interest Income Recognized - With an allowance recorded | 27 | 16 | |
Recorded Investment - With no related allowance recorded | 1,151 | 974 | |
Recorded Investment - With an allowance recorded | 331 | 1,398 | |
Unpaid Principal Balance - With no related allowance recorded | 3,743 | 3,411 | |
Unpaid Principal Balance - With an allowance recorded | 1,479 | 1,549 | |
Related Allowance | 292 | 905 | |
Originated loans [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 758 | 897 | |
Average Recorded Investment - With an allowance recorded | 153 | 157 | |
Interest Income Recognized - With no related allowance recorded | 6 | 7 | |
Interest Income Recognized - With an allowance recorded | 2 | 2 | |
Recorded Investment - With no related allowance recorded | 753 | 762 | |
Recorded Investment - With an allowance recorded | 152 | 153 | |
Unpaid Principal Balance - With no related allowance recorded | 772 | 779 | |
Unpaid Principal Balance - With an allowance recorded | 152 | 153 | |
Related Allowance | 20 | 21 | |
Acquired loans recorded at fair value [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 6,993 | 7,900 | |
Average Recorded Investment - With an allowance recorded | 4,142 | 4,759 | |
Interest Income Recognized - With no related allowance recorded | 84 | 93 | |
Interest Income Recognized - With an allowance recorded | 30 | 38 | |
Recorded Investment - With no related allowance recorded | 6,624 | 7,359 | |
Recorded Investment - With an allowance recorded | 4,263 | 4,020 | |
Unpaid Principal Balance - With no related allowance recorded | 6,750 | 7,490 | |
Unpaid Principal Balance - With an allowance recorded | 4,607 | 4,344 | |
Related Allowance | 878 | 906 | |
Acquired loans recorded at fair value [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 2,753 | 3,876 | |
Average Recorded Investment - With an allowance recorded | 3,146 | 3,580 | |
Interest Income Recognized - With no related allowance recorded | 25 | 30 | |
Interest Income Recognized - With an allowance recorded | 24 | 32 | |
Recorded Investment - With no related allowance recorded | 2,382 | 3,123 | |
Recorded Investment - With an allowance recorded | 3,275 | 3,016 | |
Unpaid Principal Balance - With no related allowance recorded | 2,504 | 3,254 | |
Unpaid Principal Balance - With an allowance recorded | 3,436 | 3,166 | |
Related Allowance | 513 | 532 | |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 3,946 | 3,793 | |
Average Recorded Investment - With an allowance recorded | 912 | 1,093 | |
Interest Income Recognized - With no related allowance recorded | 55 | 59 | |
Interest Income Recognized - With an allowance recorded | 4 | 5 | |
Recorded Investment - With no related allowance recorded | 3,931 | 3,961 | |
Recorded Investment - With an allowance recorded | 904 | 920 | |
Unpaid Principal Balance - With no related allowance recorded | 3,931 | 3,961 | |
Unpaid Principal Balance - With an allowance recorded | 1,087 | 1,094 | |
Related Allowance | 360 | 369 | |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Recorded Investment - With no related allowance recorded | 52 | 53 | |
Unpaid Principal Balance - With no related allowance recorded | 52 | 53 | |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 230 | 231 | |
Average Recorded Investment - With an allowance recorded | 84 | 86 | |
Interest Income Recognized - With no related allowance recorded | 3 | ||
Interest Income Recognized - With an allowance recorded | 2 | 1 | |
Recorded Investment - With no related allowance recorded | 259 | 222 | |
Recorded Investment - With an allowance recorded | 84 | 84 | |
Unpaid Principal Balance - With no related allowance recorded | 263 | 222 | |
Unpaid Principal Balance - With an allowance recorded | 84 | 84 | |
Related Allowance | 5 | 5 | |
Acquired loans recorded at fair value [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 11 | ||
Interest Income Recognized - With no related allowance recorded | 4 | ||
Acquired loans with deteriorated credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 7,902 | 1,737 | |
Average Recorded Investment - With an allowance recorded | 366 | 185 | |
Interest Income Recognized - With no related allowance recorded | 22 | 23 | |
Interest Income Recognized - With an allowance recorded | 5 | 5 | |
Recorded Investment - With no related allowance recorded | 7,291 | 8,510 | |
Recorded Investment - With an allowance recorded | 365 | 367 | |
Unpaid Principal Balance - With no related allowance recorded | 14,421 | 15,846 | |
Unpaid Principal Balance - With an allowance recorded | 413 | 414 | |
Related Allowance | 8 | 9 | |
Acquired loans with deteriorated credit [Member] | Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 1,019 | 1,225 | |
Average Recorded Investment - With an allowance recorded | 366 | 185 | |
Interest Income Recognized - With no related allowance recorded | 16 | 16 | |
Interest Income Recognized - With an allowance recorded | 5 | 5 | |
Recorded Investment - With no related allowance recorded | 1,015 | 1,023 | |
Recorded Investment - With an allowance recorded | 365 | 367 | |
Unpaid Principal Balance - With no related allowance recorded | 1,571 | 1,579 | |
Unpaid Principal Balance - With an allowance recorded | 413 | 414 | |
Related Allowance | 8 | 9 | |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 6,050 | 512 | |
Interest Income Recognized - With no related allowance recorded | 6 | $ 7 | |
Recorded Investment - With no related allowance recorded | 5,471 | 6,628 | |
Unpaid Principal Balance - With no related allowance recorded | 6,586 | 7,957 | |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 785 | ||
Recorded Investment - With no related allowance recorded | 759 | 810 | |
Unpaid Principal Balance - With no related allowance recorded | 6,210 | 6,253 | |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average Recorded Investment - With no related allowance recorded | 48 | ||
Recorded Investment - With no related allowance recorded | 46 | 49 | |
Unpaid Principal Balance - With no related allowance recorded | $ 54 | $ 57 |
Loans Receivable and Allowan_10
Loans Receivable and Allowance for Loan Losses (Troubled Debt Restructurings) (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019USD ($)loan | Mar. 31, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Amount | $ 26,454 | $ 26,613 | |
Number of Contracts | loan | 2 | ||
Pre-Modification Outstanding Recorded Investments | $ 819 | ||
Post-Modification Outstanding Recorded Investments | $ 819 | ||
Accrual [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Amount | 23,059 | 22,477 | |
Non-Accrual [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Amount | $ 3,395 | $ 4,136 | |
Originated loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 3 | 1 | |
Pre-Modification Outstanding Recorded Investments | $ 1,203 | $ 640 | |
Post-Modification Outstanding Recorded Investments | $ 1,378 | $ 640 | |
Originated loans [Member] | Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 1 | 1 | |
Pre-Modification Outstanding Recorded Investments | $ 181 | $ 640 | |
Post-Modification Outstanding Recorded Investments | $ 186 | $ 640 | |
Originated loans [Member] | Commercial and Multi-family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 1 | ||
Pre-Modification Outstanding Recorded Investments | $ 877 | ||
Post-Modification Outstanding Recorded Investments | $ 1,039 | ||
Originated loans [Member] | Commercial Business [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 1 | ||
Pre-Modification Outstanding Recorded Investments | $ 145 | ||
Post-Modification Outstanding Recorded Investments | $ 153 | ||
Acquired loans recorded at fair value [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 1 | ||
Pre-Modification Outstanding Recorded Investments | $ 179 | ||
Post-Modification Outstanding Recorded Investments | $ 179 | ||
Acquired loans recorded at fair value [Member] | Residential [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | loan | 1 | ||
Pre-Modification Outstanding Recorded Investments | $ 179 | ||
Post-Modification Outstanding Recorded Investments | $ 179 |
Loans Receivable and Allowan_11
Loans Receivable and Allowance for Loan Losses (Delinquency Status of Total Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | $ 39,829 | $ 29,312 |
Current | 2,291,887 | 2,273,290 |
Total Loans Receivable | 2,331,716 | 2,302,602 |
30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 29,484 | 15,632 |
60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,969 | 2,020 |
Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 7,376 | 11,660 |
Originated loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 26,194 | 14,072 |
Current | 2,066,062 | 2,038,044 |
Total Loans Receivable | 2,092,256 | 2,052,116 |
Originated loans [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 22,817 | 9,883 |
Originated loans [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,267 | 1,400 |
Originated loans [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,110 | 2,789 |
Originated loans [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 4,103 | 3,446 |
Current | 210,868 | 209,754 |
Total Loans Receivable | 214,971 | 213,200 |
Originated loans [Member] | Residential [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,223 | 980 |
Originated loans [Member] | Residential [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,867 | 1,014 |
Originated loans [Member] | Residential [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,013 | 1,452 |
Originated loans [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 15,234 | 8,361 |
Current | 1,557,698 | 1,532,405 |
Total Loans Receivable | 1,572,932 | 1,540,766 |
Originated loans [Member] | Commercial and Multi-family [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 15,234 | 7,074 |
Originated loans [Member] | Commercial and Multi-family [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 299 | |
Originated loans [Member] | Commercial and Multi-family [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 988 | |
Originated loans [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 114,462 | 106,187 |
Total Loans Receivable | 114,462 | 106,187 |
Originated loans [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 6,719 | 1,680 |
Current | 133,384 | 135,286 |
Total Loans Receivable | 140,103 | 136,966 |
Originated loans [Member] | Commercial Business [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 6,259 | 1,331 |
Originated loans [Member] | Commercial Business [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 400 | |
Originated loans [Member] | Commercial Business [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 60 | 349 |
Originated loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 138 | 585 |
Current | 48,964 | 53,686 |
Total Loans Receivable | 49,102 | 54,271 |
Originated loans [Member] | Home Equity [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 101 | 498 |
Originated loans [Member] | Home Equity [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 87 | |
Originated loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 37 | |
Originated loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 686 | 726 |
Total Loans Receivable | 686 | 726 |
Acquired loans recorded at fair value [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 8,474 | 8,374 |
Current | 222,693 | 232,788 |
Total Loans Receivable | 231,167 | 241,162 |
Acquired loans recorded at fair value [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 6,473 | 5,749 |
Acquired loans recorded at fair value [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 656 | 620 |
Acquired loans recorded at fair value [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,345 | 2,005 |
Acquired loans recorded at fair value [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,902 | 3,554 |
Current | 39,931 | 39,941 |
Total Loans Receivable | 41,833 | 43,495 |
Acquired loans recorded at fair value [Member] | Residential [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 601 | 1,117 |
Acquired loans recorded at fair value [Member] | Residential [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 520 | |
Acquired loans recorded at fair value [Member] | Residential [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,301 | 1,917 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,951 | 1,558 |
Current | 142,771 | 148,681 |
Total Loans Receivable | 145,722 | 150,239 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,949 | 1,480 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 78 | |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2 | |
Acquired loans recorded at fair value [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 594 | |
Current | 1,002 | |
Total Loans Receivable | 1,596 | |
Acquired loans recorded at fair value [Member] | Construction [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 594 | |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 3,061 | 1,922 |
Current | 22,907 | 25,451 |
Total Loans Receivable | 25,968 | 27,373 |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,684 | 1,876 |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 377 | |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 46 | |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 560 | 746 |
Current | 17,039 | 17,630 |
Total Loans Receivable | 17,599 | 18,376 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 239 | 682 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 279 | 22 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 42 | 42 |
Acquired loans recorded at fair value [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 45 | 83 |
Total Loans Receivable | 45 | 83 |
Acquired loans with deteriorated credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 5,161 | 6,866 |
Current | 3,132 | 2,458 |
Total Loans Receivable | 8,293 | 9,324 |
Acquired loans with deteriorated credit [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 194 | |
Acquired loans with deteriorated credit [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 46 | |
Acquired loans with deteriorated credit [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 4,921 | 6,866 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 1,380 | 1,390 |
Total Loans Receivable | 1,380 | 1,390 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 4,868 | 6,012 |
Current | 804 | 820 |
Total Loans Receivable | 5,672 | 6,832 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 4,868 | 6,012 |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 247 | 806 |
Current | 749 | 48 |
Total Loans Receivable | 996 | 854 |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | 30 to 59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 194 | |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 53 | 806 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 46 | 48 |
Current | 199 | 200 |
Total Loans Receivable | 245 | 248 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | 60 to 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | $ 46 | |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | $ 48 |
Loans Receivable and Allowan_12
Loans Receivable and Allowance for Loan Losses (Loan Portfolio By Pass Rating) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | $ 2,331,716 | $ 2,302,602 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,295,145 | 2,263,252 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 12,594 | 13,189 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 23,977 | 26,161 |
Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 258,184 | |
Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,724,326 | |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 114,462 | |
Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 167,067 | |
Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 66,946 | |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 731 | |
Originated loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,092,256 | 2,052,116 |
Originated loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,069,481 | 2,028,144 |
Originated loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 8,854 | 8,330 |
Originated loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 13,921 | 15,642 |
Originated loans [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 214,971 | 213,200 |
Originated loans [Member] | Residential [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 209,888 | 207,991 |
Originated loans [Member] | Residential [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,022 | 2,400 |
Originated loans [Member] | Residential [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 3,061 | 2,809 |
Originated loans [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,572,932 | 1,540,766 |
Originated loans [Member] | Commercial and Multi-family [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,559,284 | 1,526,591 |
Originated loans [Member] | Commercial and Multi-family [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 4,168 | 3,608 |
Originated loans [Member] | Commercial and Multi-family [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 9,480 | 10,567 |
Originated loans [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 114,462 | 106,187 |
Originated loans [Member] | Construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 113,794 | 105,886 |
Originated loans [Member] | Construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 668 | 301 |
Originated loans [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 140,103 | 136,966 |
Originated loans [Member] | Commercial Business [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 137,068 | 133,054 |
Originated loans [Member] | Commercial Business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,927 | 1,923 |
Originated loans [Member] | Commercial Business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,108 | 1,989 |
Originated loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 49,102 | 54,271 |
Originated loans [Member] | Home Equity [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 48,767 | 53,903 |
Originated loans [Member] | Home Equity [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 63 | 91 |
Originated loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 272 | 277 |
Originated loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 686 | 726 |
Originated loans [Member] | Consumer [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 680 | 719 |
Originated loans [Member] | Consumer [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 6 | 7 |
Acquired loans recorded at fair value [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 231,167 | 241,162 |
Acquired loans recorded at fair value [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 224,457 | 233,897 |
Acquired loans recorded at fair value [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,445 | 3,747 |
Acquired loans recorded at fair value [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 4,265 | 3,518 |
Acquired loans recorded at fair value [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 41,833 | 43,495 |
Acquired loans recorded at fair value [Member] | Residential [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 39,811 | 41,009 |
Acquired loans recorded at fair value [Member] | Residential [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1 | |
Acquired loans recorded at fair value [Member] | Residential [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,022 | 2,485 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 145,722 | 150,239 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 142,221 | 146,701 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,344 | 2,618 |
Acquired loans recorded at fair value [Member] | Commercial and Multi-family [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 2,157 | 920 |
Acquired loans recorded at fair value [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,596 | |
Acquired loans recorded at fair value [Member] | Construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,596 | |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 25,968 | 27,373 |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 24,867 | 26,199 |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,101 | 1,128 |
Acquired loans recorded at fair value [Member] | Commercial Business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 46 | |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 17,599 | 18,376 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 17,513 | 18,309 |
Acquired loans recorded at fair value [Member] | Home Equity [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 86 | 67 |
Acquired loans recorded at fair value [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 45 | 83 |
Acquired loans recorded at fair value [Member] | Consumer [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 45 | 83 |
Acquired loans with deteriorated credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 8,293 | 9,324 |
Acquired loans with deteriorated credit [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,207 | 1,211 |
Acquired loans with deteriorated credit [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,295 | 1,112 |
Acquired loans with deteriorated credit [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 5,791 | 7,001 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 1,380 | 1,390 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 807 | 812 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 559 | 562 |
Acquired loans with deteriorated credit [Member] | Residential [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 14 | 16 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 5,672 | 6,832 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 201 | 204 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 499 | 502 |
Acquired loans with deteriorated credit [Member] | Commercial and Multi-family [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 4,972 | 6,126 |
Acquired loans with deteriorated credit [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | ||
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 996 | 854 |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | (4) | |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 237 | 48 |
Acquired loans with deteriorated credit [Member] | Commercial Business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 759 | 810 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 245 | 248 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 199 | 199 |
Acquired loans with deteriorated credit [Member] | Home Equity [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross | 46 | $ 49 |
Acquired loans with deteriorated credit [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, gross |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) | Feb. 25, 2019 | Jan. 30, 2019 | May 16, 2018 | Apr. 17, 2018 |
IA Bancorp [Member] | ||||
Stock issued in acquisition | $ 631,896 | |||
Common Stock [Member] | ||||
Shares issued upon conversion | 82,950 | |||
Proceeds from issuance of private placement | $ 6,272,000 | |||
Shares issued | 496,224 | |||
Common Stock [Member] | Directors And Officers [Member] | ||||
Shares issued | 286,244 | |||
Common Stock [Member] | IA Bancorp [Member] | ||||
Stock issued in acquisition | 9,952,000 | |||
Series E Preferred Stock [Member] | ||||
Conversion of stock, shares converted | 438,889 | |||
Series E Preferred Stock [Member] | IA Bancorp [Member] | ||||
Stock issued in acquisition | $ 438,889 | |||
Preferred stock, dividend rate | 6.00% | |||
Series F Preferred Stock [Member] | IA Bancorp [Member] | ||||
Stock issued in acquisition | $ 6,465 | |||
Preferred stock, dividend rate | 6.00% | |||
Series G Preferred Stock [Member] | ||||
Preferred stock, dividend rate | 6.00% | |||
Proceeds from issuance of private placement | $ 5,330,000 | |||
Shares issued | 533 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) | 3 Months Ended | 15 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Impairment of intangible assets | $ 0 | $ 0 | |
Amortization expense | 19,000 | ||
Intangible assets, net | $ 352,000 | 352,000 | |
Goodwill | $ 5,200,000 | ||
Core Deposit Intangibles [Member] | |||
Intangible asset, useful life | 10 years | ||
Amortization expense | $ 78,000 |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments (Narrative) (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers between fair value hierarchy | $ 0 | $ 0 | |
Impaired loans | 7,573,000 | $ 9,469,000 | |
Valuation allowance | 1,296,000 | 2,181,000 | |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 7,600,000 | 9,500,000 | |
Valuation allowance | $ 1,300,000 | $ 2,200,000 |
Fair Values of Financial Inst_4
Fair Values of Financial Instruments (Fair Value Measurements, Recurring) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | $ 117,942 | $ 119,335 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 117,942 | 119,335 |
Equity Securities Available for Sale | 7,963 | 7,672 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities Available for Sale | 7,963 | 7,672 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Equity Securities Available for Sale | 7,963 | 7,672 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 117,942 | 119,335 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 117,942 | 119,335 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Equity Securities Available for Sale | ||
Mortgage-backed securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 114,211 | 115,640 |
Mortgage-backed securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Mortgage-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 114,211 | 115,640 |
Mortgage-backed securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Municipal Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 3,731 | 3,695 |
Municipal Obligations [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Municipal Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | 3,731 | 3,695 |
Municipal Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities Available for Sale | ||
Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities Available for Sale | 7,963 | 7,672 |
Preferred Stock [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities Available for Sale | 7,963 | 7,672 |
Preferred Stock [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities Available for Sale |
Fair Values of Financial Inst_5
Fair Values of Financial Instruments (Fair Value Measurements, Nonrecurring) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 1,746 | $ 1,333 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,277 | 7,288 |
Other real estate owned | 1,746 | 1,333 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,277 | 7,288 |
Impaired Loans [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | ||
Impaired Loans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | ||
Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,277 | 7,288 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | 1,746 | 1,333 |
Other Real Estate Owned [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | ||
Other Real Estate Owned [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | ||
Other Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 1,746 | $ 1,333 |
Fair Values of Financial Inst_6
Fair Values of Financial Instruments (Quantitative Information about Level 3 Fair Value Measurements) (Details) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other real estate owned | $ 1,746,000 | $ 1,333,000 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans | 6,277,000 | 7,288,000 |
Other real estate owned | $ 1,746,000 | $ 1,333,000 |
Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, measurement input | 0 | 0 |
Other real estate owned, measurement input | 0 | 0 |
Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans, measurement input | 10 | 10 |
Other real estate owned, measurement input | 10 | 10 |
Fair Values of Financial Inst_7
Fair Values of Financial Instruments (Carrying Values and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | $ 117,942 | $ 119,335 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 193,548 | 195,264 |
Interest-earning time deposits | 735 | 735 |
Debt securities available for sale | 117,942 | 119,335 |
Equity investments | 7,963 | 7,672 |
Loans held for sale | 1,347 | 1,153 |
Loans receivable, net | 2,307,140 | 2,278,492 |
FHLB of New York stock, at cost | 13,405 | 13,405 |
Accrued interest receivable | 9,750 | 8,378 |
Other Real Estate Owned | 1,746 | 1,333 |
Deposits | 2,188,633 | 2,180,724 |
Borrowings | 245,800 | 245,800 |
Subordinated debentures | 36,635 | 36,577 |
Accrued interest payable | 2,297 | 2,561 |
Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 193,548 | 195,264 |
Interest-earning time deposits | 735 | 735 |
Debt securities available for sale | 117,942 | 119,335 |
Equity investments | 7,963 | 7,672 |
Loans held for sale | 1,347 | 1,153 |
Loans receivable, net | 2,291,599 | 2,245,150 |
FHLB of New York stock, at cost | 13,405 | 13,405 |
Accrued interest receivable | 9,750 | 8,378 |
Other Real Estate Owned | 1,746 | 1,333 |
Deposits | 2,197,683 | 2,189,404 |
Borrowings | 245,305 | 244,049 |
Subordinated debentures | 36,561 | 36,316 |
Accrued interest payable | 2,297 | 2,561 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 193,548 | 195,264 |
Interest-earning time deposits | 735 | 735 |
Equity investments | 7,963 | 7,672 |
Deposits | 1,106,248 | 1,075,539 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities available for sale | 117,942 | 119,335 |
Loans held for sale | 1,347 | 1,153 |
FHLB of New York stock, at cost | 13,405 | 13,405 |
Accrued interest receivable | 9,750 | 8,378 |
Deposits | 1,091,435 | 1,113,865 |
Borrowings | 245,305 | 244,049 |
Subordinated debentures | 36,561 | 36,316 |
Accrued interest payable | 2,297 | 2,561 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable, net | 2,291,599 | 2,245,150 |
Other Real Estate Owned | $ 1,746 | $ 1,333 |
Subordinated Debt (Narrative) (
Subordinated Debt (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Jul. 30, 2018 | |
Trust Preferred Securities Subject to Mandatory Redemption [Member] | ||
Subordinated Borrowing [Line Items] | ||
Trust preferred securities | $ 4,124,000 | |
Fixed To Floating Rate Subordinated Debentures [Member] | ||
Subordinated Borrowing [Line Items] | ||
Face amount | $ 33,500,000 | |
Notes term | 10 years | |
Redemption restriction period | 5 years | |
Deferred finance costs | $ 989,000 | |
Fixed To Floating Rate Subordinated Debentures [Member] | First Five Years [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest rate | 5.625% | |
Fixed To Floating Rate Subordinated Debentures [Member] | After Five Years [Member] | ||
Subordinated Borrowing [Line Items] | ||
Variable interest rate spread | 2.72% |
Lease Obligations (Right-of-Use
Lease Obligations (Right-of-Use Asset and Related Liability) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Lease Obligations [Abstract] | |
Operating Leases, Assets | $ 15,346 |
Operating Lease, Liabilities | $ 15,381 |
Lease Obligations (Schedule of
Lease Obligations (Schedule of Lease Information) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Lease Obligations [Abstract] | |
Operating lease cost | $ 750 |
Variable lease cost-operating leases | 132 |
Right-of-use assets obtained in exchange for lease obligations, Operating leases | 15,991 |
Operating lease right-of-use assets | 15,346 |
Current liabilities | 2,650 |
Operating lease liabilities (noncurrent portion) | 12,731 |
Total operating lease liabilities | $ 15,381 |
Lease Obligations (Summary of L
Lease Obligations (Summary of Lease Terms and Discount Rate) (Details) | Mar. 31, 2019 |
Lease Obligations [Abstract] | |
Weighted Average Remaining Lease Term, Operating leases | 7 years |
Weighted Average Discount Rate, Operating leases | 3.15% |
Lease Obligations (Summary of M
Lease Obligations (Summary of Maturity of Operating and Finance Leases) (Details) $ in Thousands | Mar. 31, 2019USD ($) |
Lease Obligations [Abstract] | |
2020 | $ 3,089 |
2021 | 2,947 |
2022 | 2,652 |
2023 | 2,342 |
2024 | 1,662 |
Thereafter | 4,592 |
Total lease payments | 17,284 |
Less imputed interest | (1,903) |
Total | $ 15,381 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - shares | Apr. 25, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Subsequent Event [Line Items] | |||
Common stock, shares authorized | 20,000,000 | 20,000,000 | |
Capital stock, shares authorized | 30,000,000 | ||
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Common stock, shares authorized | 40,000,000 | ||
Capital stock, shares authorized | 50,000,000 |