Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 01, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'TRUSTCO BANK CORP N Y | ' |
Entity Central Index Key | '0000357301 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 94,676,409 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest and dividend income: | ' | ' | ' | ' |
Interest and fees on loans | $33,614 | $31,639 | $66,488 | $63,120 |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 4,307 | 4,314 | 8,616 | 8,838 |
Interest on held to maturity securities: | ' | ' | ' | ' |
Total interest on held to maturity securities | 731 | 930 | 1,510 | 2,031 |
Federal Reserve Bank and Federal Home Loan Bank stock | 128 | 121 | 261 | 240 |
Interest on federal funds sold and other short-term investments | 376 | 327 | 727 | 572 |
Total interest income | 39,156 | 37,331 | 77,602 | 74,801 |
Interest expense: | ' | ' | ' | ' |
Interest-bearing checking | 89 | 82 | 173 | 162 |
Savings | 592 | 829 | 1,355 | 1,745 |
Money market deposit accounts | 618 | 630 | 1,217 | 1,315 |
Time deposits | 2,035 | 1,883 | 3,986 | 3,703 |
Interest on short-term borrowings | 342 | 367 | 735 | 731 |
Total interest expense | 3,676 | 3,791 | 7,466 | 7,656 |
Net interest income | 35,480 | 33,540 | 70,136 | 67,145 |
Provision for loan losses | 1,500 | 2,000 | 3,000 | 4,000 |
Net interest income after provision for loan losses | 33,980 | 31,540 | 67,136 | 63,145 |
Noninterest income: | ' | ' | ' | ' |
Trustco financial services income | 1,405 | 1,287 | 2,915 | 2,708 |
Fees for services to customers | 2,732 | 2,968 | 5,253 | 5,855 |
Net gain on securities transactions | 0 | 1,432 | 6 | 1,434 |
Other | 368 | 229 | 2,090 | 511 |
Total noninterest income | 4,505 | 5,916 | 10,264 | 10,508 |
Noninterest expenses: | ' | ' | ' | ' |
Salaries and employee benefits | 8,012 | 7,647 | 15,604 | 15,825 |
Net occupancy expense | 4,110 | 3,910 | 8,369 | 7,963 |
Equipment expense | 1,823 | 1,582 | 3,575 | 3,300 |
Professional services | 1,438 | 1,565 | 2,724 | 2,985 |
Outsourced services | 1,425 | 1,350 | 2,750 | 2,700 |
Advertising expense | 657 | 714 | 1,256 | 1,444 |
FDIC and other insurance | 1,000 | 1,004 | 1,904 | 2,014 |
Other real estate (income) expense, net | -1,688 | 1,473 | -833 | 2,222 |
Other | 2,660 | 2,624 | 4,889 | 4,973 |
Total noninterest expenses | 19,437 | 21,869 | 40,238 | 43,426 |
Income before taxes | 19,048 | 15,587 | 37,162 | 30,227 |
Income taxes | 7,240 | 5,824 | 14,343 | 11,296 |
Net income | 11,808 | 9,763 | 22,819 | 18,931 |
Net income per Common Share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.13 | $0.10 | $0.24 | $0.20 |
Diluted (in dollars per share) | $0.13 | $0.10 | $0.24 | $0.20 |
U. S. government sponsored enterprises [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 381 | 627 | 887 | 1,443 |
State and political subdivisions [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 44 | 148 | 112 | 339 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 3,299 | 2,701 | 6,377 | 5,470 |
Interest on held to maturity securities: | ' | ' | ' | ' |
Total interest on held to maturity securities | 577 | 716 | 1,202 | 1,505 |
Corporate bonds [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 2 | 233 | 61 | 451 |
Interest on held to maturity securities: | ' | ' | ' | ' |
Total interest on held to maturity securities | 154 | 214 | 308 | 526 |
Small Business Administration-guaranteed participation securities [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 539 | 564 | 1,095 | 1,060 |
Mortgage-backed securities and collateralized mortgage obligations-Commercial [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | 38 | 38 | 76 | 67 |
Other securities [Member] | ' | ' | ' | ' |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Total interest and dividends on securities available for sale | $4 | $3 | $8 | $8 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ' | ' | ' | ' |
Net income | $11,808 | $9,763 | $22,819 | $18,931 |
Net unrealized holding gain (loss) on securities available for sale | 11,429 | -26,315 | 18,884 | -29,254 |
Reclassification adjustments for net gain recognized in income | 0 | -1,432 | -6 | -1,434 |
Tax effect | -4,517 | 11,064 | -7,543 | 12,237 |
Net unrealized gain (loss) on securities available for sale, net of tax | 6,912 | -16,683 | 11,335 | -18,451 |
Amortization of net actuarial (gain) loss | -74 | 101 | -146 | 233 |
Amortization of prior service credit | -45 | -65 | -90 | -131 |
Tax effect | 48 | -15 | 93 | -40 |
Amortization of net actuarial (gain) loss and prior service credit on pension and postretirement plans, net of tax | -71 | 21 | -143 | 62 |
Other comprehensive income (loss), net of tax | 6,841 | -16,662 | 11,192 | -18,389 |
Comprehensive income (loss) | $18,649 | ($6,899) | $34,011 | $542 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS: | ' | ' |
Cash and due from banks | $48,034 | $46,453 |
Federal funds sold and other short term investments | 573,514 | 536,591 |
Total cash and cash equivalents | 621,548 | 583,044 |
Securities available for sale | 811,770 | 863,754 |
Held to maturity securities (fair value 2014 $82,895; 2013 $90,305) | 77,926 | 86,215 |
Federal Reserve Bank and Federal Home Loan Bank stock | 10,951 | 10,500 |
Loans, net of deferred fees and costs | 3,006,150 | 2,908,809 |
Less: Allowance for loan losses | 46,935 | 47,714 |
Net loans | 2,959,215 | 2,861,095 |
Bank premises and equipment, net | 36,658 | 34,414 |
Other assets | 71,061 | 82,430 |
Total assets | 4,589,129 | 4,521,452 |
Deposits: | ' | ' |
Demand | 324,277 | 318,456 |
Interest-bearing checking | 643,473 | 611,127 |
Savings accounts | 1,233,347 | 1,218,038 |
Money market deposit accounts | 651,367 | 648,402 |
Certificates of deposit (in denominations of $100,000 or more) | 436,785 | 419,301 |
Other time accounts | 705,938 | 711,747 |
Total deposits | 3,995,187 | 3,927,071 |
Short-term borrowings | 181,516 | 204,162 |
Accrued expenses and other liabilities | 27,409 | 28,406 |
Total liabilities | 4,204,112 | 4,159,639 |
SHAREHOLDERS' EQUITY: | ' | ' |
Capital stock par value $1; 150,000,000 shares authorized; 98,927,123 shares issued at June 30, 2014 and December 31, 2013 | 98,927 | 98,927 |
Surplus | 172,769 | 173,144 |
Undivided profits | 157,832 | 147,432 |
Accumulated other comprehensive income loss, net of tax | -2,611 | -13,803 |
Treasury stock at cost - 4,261,714 and 4,463,786 shares at June 30, 2014 and December 31, 2013, respectively | -41,900 | -43,887 |
Total shareholders' equity | 385,017 | 361,813 |
Total liabilities and shareholders' equity | $4,589,129 | $4,521,452 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
ASSETS: | ' | ' |
Held to maturity securities, fair value | $82,895 | $90,305 |
SHAREHOLDERS' EQUITY: | ' | ' |
Capital stock, par value (in dollars per share) | $1 | $1 |
Capital stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Capital stock, shares issued (in shares) | 98,927,123 | 98,927,123 |
Treasury stock, at cost (in shares) | 4,261,714 | 4,463,786 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Capital Stock [Member] | Surplus [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands | ||||||
Balance at Dec. 31, 2012 | $98,912 | $174,899 | $132,378 | $1,558 | ($48,949) | $358,798 |
Net Income | 0 | 0 | 18,931 | 0 | 0 | 18,931 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | -18,389 | 0 | -18,389 |
Cash dividend declared | 0 | 0 | -12,356 | 0 | 0 | -12,356 |
Sale of treasury stock | 0 | -1,173 | 0 | 0 | 2,641 | 1,468 |
Stock based compensation expense | 0 | 171 | 0 | 0 | 0 | 171 |
Balance at Jun. 30, 2013 | 98,912 | 173,897 | 138,953 | -16,831 | -46,308 | 348,623 |
Balance at Dec. 31, 2013 | 98,927 | 173,144 | 147,432 | -13,803 | -43,887 | 361,813 |
Net Income | 0 | 0 | 22,819 | 0 | 0 | 22,819 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 11,192 | 0 | 11,192 |
Cash dividend declared | 0 | 0 | -12,419 | 0 | 0 | -12,419 |
Sale of treasury stock | 0 | -548 | 0 | 0 | 1,987 | 1,439 |
Stock based compensation expense | 0 | 173 | 0 | 0 | 0 | 173 |
Balance at Jun. 30, 2014 | $98,927 | $172,769 | $157,832 | ($2,611) | ($41,900) | $385,017 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | ' | ' |
Cash dividend declared (in dollars per share) | $0.13 | $0.13 |
Sale of treasury stock (in shares) | 202,072 | 268,509 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $22,819 | $18,931 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 2,432 | 2,541 |
Net (gain) loss on sale of other real estate owned | -2,482 | 36 |
Writedown of other real estate owned | 998 | 1,098 |
Net gain on sale of building held for sale | -1,556 | 0 |
Provision for loan losses | 3,000 | 4,000 |
Deferred tax (benefit) expense | 1,508 | -27 |
Stock based compensation expense | 173 | 171 |
Net gain on sale of bank premises and equipment | -1 | -16 |
Net gain on sales and calls of securities | -6 | -1,434 |
Decrease (increase) in taxes receivable | 1,265 | -1,329 |
Decrease (increase) in interest receivable | -152 | -332 |
Decrease in interest payable | -2 | -24 |
Decrease (increase) in other assets | -2,561 | 6,272 |
Increase (decrease) in accrued expenses and other liabilities | -1,009 | 1,610 |
Total adjustments | 1,607 | 12,566 |
Net cash provided by operating activities | 24,426 | 31,497 |
Cash flows from investing activities: | ' | ' |
Proceeds from sales and calls of securities available for sale | 180,623 | 323,974 |
Proceeds from calls and maturities of held to maturity securities | 8,289 | 44,637 |
Purchases of securities available for sale | -118,755 | -329,374 |
Proceeds from maturities of securities available for sale | 9,000 | 10,050 |
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock | -451 | -868 |
Net increase in loans | -107,000 | -89,783 |
Net proceeds from sale of building held for sale | 4,745 | 0 |
Proceeds from dispositions of other real estate owned | 7,230 | 4,978 |
Proceeds from dispositions of bank premises and equipment | 53 | 16 |
Purchases of bank premises and equipment | -4,160 | -4,603 |
Net cash used in investing activities | -20,426 | -40,973 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 68,116 | 88,683 |
Net (decrease) increase in short-term borrowings | -22,646 | 16,479 |
Proceeds from sale of treasury stock | 1,439 | 1,468 |
Dividends paid | -12,405 | -12,338 |
Net cash provided by financing activities | 34,504 | 94,292 |
Net increase in cash and cash equivalents | 38,504 | 84,816 |
Cash and cash equivalents at beginning of period | 583,044 | 544,016 |
Cash and cash equivalents at end of period | 621,548 | 628,832 |
Cash paid during the year for: | ' | ' |
Interest paid | 7,468 | 7,680 |
Income taxes paid | 13,142 | 12,691 |
Other non cash items: | ' | ' |
Transfer of loans to other real estate owned | 5,880 | 7,752 |
Transfer of other real estate owned to fixed assets | 568 | 0 |
Increase in dividends payable | 14 | 18 |
Change in unrealized gain (loss) on securities available for sale - gross of deferred taxes | 18,878 | -30,688 |
Change in deferred tax effect on unrealized gain (loss) on securities available for sale | -7,543 | 12,237 |
Amortization of net actuarial loss and prior service credit on pension and postretirement plans | -236 | 102 |
Change in deferred tax effect of amortization of net actuarial loss and prior service credit | $93 | ($40) |
Financial_Statement_Presentati
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Financial Statement Presentation [Abstract] | ' |
Financial Statement Presentation | ' |
(1) Financial Statement Presentation | |
The unaudited Consolidated Interim Financial Statements of TrustCo Bank Corp NY (the Company) include the accounts of the subsidiaries after elimination of all significant intercompany accounts and transactions. Prior period amounts are reclassified when necessary to conform to the current period presentation. The net income reported for the three months and six months ended June 30, 2014 is not necessarily indicative of the results that may be expected for the year ending December 31, 2014, or any interim periods. These financial statements consider events that occurred through the date of filing. | |
In the opinion of the management of the Company, the accompanying unaudited Consolidated Interim Financial Statements contain all recurring adjustments necessary to present fairly the financial position as of June 30, 2014, the results of operations for the three months and six months ended June 30, 2014 and 2013, and the cash flows for the six months ended June 30, 2014 and 2013. The accompanying Consolidated Interim Financial Statements should be read in conjunction with the TrustCo Bank Corp NY year-end Consolidated Financial Statements, including notes thereto, which are included in TrustCo Bank Corp NY's 2013 Annual Report to Shareholders on Form 10-K. The accompanying consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share | ' | ||||||||
(2) Earnings Per Share | |||||||||
The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). TrustCo adopted FASB ASC 260-10 (“ASC 260-10”), Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities, which clarified that unvested share-based payment awards that contain nonforfeitable rights to receive dividends or divided equivalents (whether paid or unpaid) are participating securities, and thus, should be included in the two-class method of computing earnings per share (“EPS”). | |||||||||
Participating securities under this statement include the unvested employees’ and directors’ restricted stock awards with time-based vesting, which receive nonforfeitable dividend payments. | |||||||||
A reconciliation of the component parts of earnings per share for the three months and six months ended June 30, 2014 and 2013 is as follows: | |||||||||
(dollars in thousands, except per share data) | |||||||||
2014 | 2013 | ||||||||
For the three months ended June 30: | |||||||||
Net income | $ | 11,808 | $ | 9,763 | |||||
Less: Net income allocated to participating securities | 13 | 11 | |||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Basic EPS: | |||||||||
Distributed earnings allocated to common stock | $ | 6,213 | $ | 6,182 | |||||
Undistributed earnings allocated to common stock | 5,582 | 3,570 | |||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Weighted average common shares outstanding including participating securities | 94,665 | 94,204 | |||||||
Less: Participating securities | 106 | 106 | |||||||
Weighted average common shares | 94,559 | 94,098 | |||||||
Basic EPS | 0.125 | 0.104 | |||||||
Diluted EPS: | |||||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Weighted average common shares for basic EPS | 94,559 | 94,098 | |||||||
Effect of Dilutive Securities: | |||||||||
Stock Options | 116 | 7 | |||||||
Weighted average common shares including potential dilutive shares | 94,675 | 94,105 | |||||||
Diluted EPS | 0.125 | 0.104 | |||||||
(dollars in thousands, except per share data) | |||||||||
2014 | 2013 | ||||||||
For the six months ended June 30: | |||||||||
Net income | $ | 22,819 | $ | 18,931 | |||||
Less: Net income allocated to participating securities | 26 | 21 | |||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Basic EPS: | |||||||||
Distributed earnings allocated to common stock | $ | 12,419 | $ | 12,356 | |||||
Undistributed earnings allocated to common stock | 10,374 | 6,554 | |||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Weighted average common shares outstanding including participating securities | 94,642 | 94,134 | |||||||
Less: Participating securities | 106 | 106 | |||||||
Weighted average common shares | 94,536 | 94,028 | |||||||
Basic EPS | 0.241 | 0.201 | |||||||
Diluted EPS: | |||||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Weighted average common shares for basic EPS | 94,536 | 94,028 | |||||||
Effect of Dilutive Securities: | |||||||||
Stock Options | 122 | 6 | |||||||
Weighted average common shares including potential dilutive shares | 94,658 | 94,034 | |||||||
Diluted EPS | 0.241 | 0.201 | |||||||
For both the three months and six months ended June 30, 2014 and 2013, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 2.4 million and 2.7 million, respectively. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented. |
Benefit_Plans
Benefit Plans | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Benefit Plans [Abstract] | ' | ||||||||||||||||
Benefit Plans | ' | ||||||||||||||||
(3) Benefit Plans | |||||||||||||||||
The table below outlines the components of the Company's net periodic benefit recognized during the three month and six month periods ended June 30, 2014 and 2013 for its pension and other postretirement benefit plans: | |||||||||||||||||
For the three months ended June 30, | |||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | 18 | 20 | 15 | 14 | |||||||||||||
Interest cost | 336 | 322 | 32 | 27 | |||||||||||||
Expected return on plan assets | (609 | ) | (597 | ) | (169 | ) | (126 | ) | |||||||||
Amortization of net (gain) loss | - | 111 | (74 | ) | (10 | ) | |||||||||||
Amortization of prior service credit | - | - | (45 | ) | (65 | ) | |||||||||||
Net periodic benefit | (255 | ) | (144 | ) | (241 | ) | (160 | ) | |||||||||
For the six months ended June 30, | |||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | 36 | 34 | 29 | 26 | |||||||||||||
Interest cost | 672 | 637 | 64 | 51 | |||||||||||||
Expected return on plan assets | (1,218 | ) | (1,095 | ) | (338 | ) | (249 | ) | |||||||||
Amortization of net (gain) loss | - | 258 | (146 | ) | (25 | ) | |||||||||||
Amortization of prior service credit | - | - | (90 | ) | (131 | ) | |||||||||||
Net periodic benefit | (510 | ) | (166 | ) | (481 | ) | (328 | ) | |||||||||
The Company previously disclosed in its consolidated financial statements for the year ended December 31, 2013, that it did not expect to make contributions to its pension and postretirement benefit plans in 2014. As of June 30, 2014, no contributions have been made, however, this decision is reviewed each quarter and is subject to change based upon market conditions. | |||||||||||||||||
Since 2003, the Company has not subsidized retiree medical insurance premiums. However, it continues to provide postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts. |
Investment_Securities
Investment Securities | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
(4) Investment Securities | |||||||||||||||||||||||||
(a) Securities available for sale | |||||||||||||||||||||||||
The amortized cost and fair value of the securities available for sale are as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
U.S. government sponsored enterprises | $ | 103,805 | 56 | 521 | 103,340 | ||||||||||||||||||||
State and political subdivisions | 3,823 | 98 | - | 3,921 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 594,869 | 1,885 | 7,237 | 589,517 | |||||||||||||||||||||
Corporate bonds | 1,403 | - | 1 | 1,402 | |||||||||||||||||||||
Small Business Administration-guaranteed participation securities | 107,542 | - | 5,175 | 102,367 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,832 | - | 288 | 10,544 | |||||||||||||||||||||
Other | 650 | - | 6 | 644 | |||||||||||||||||||||
Total debt securities | 822,924 | 2,039 | 13,228 | 811,735 | |||||||||||||||||||||
Equity securities | 35 | - | - | 35 | |||||||||||||||||||||
Total securities available for sale | $ | 822,959 | 2,039 | 13,228 | 811,770 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
U.S. government sponsored enterprises | $ | 200,531 | 22 | 1,724 | 198,829 | ||||||||||||||||||||
State and political subdivisions | 7,623 | 135 | - | 7,758 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 552,230 | 267 | 20,048 | 532,449 | |||||||||||||||||||||
Corporate bonds | 10,429 | 43 | 1 | 10,471 | |||||||||||||||||||||
Small Business Administration-guaranteed participation securities | 111,383 | - | 8,354 | 103,029 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,965 | - | 407 | 10,558 | |||||||||||||||||||||
Other | 650 | - | - | 650 | |||||||||||||||||||||
Total debt securities | 893,811 | 467 | 30,534 | 863,744 | |||||||||||||||||||||
Equity securities | 10 | - | - | 10 | |||||||||||||||||||||
Total securities available for sale | $ | 893,821 | 467 | 30,534 | 863,754 | ||||||||||||||||||||
The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2014, based on the securities’ final maturity (mortgage-backed securities and collateralized mortgage obligations are stated using an estimated average life): | |||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in one year or less | $ | 2,195 | 2,213 | ||||||||||||||||||||||
Due in one year through five years | 360,427 | 360,596 | |||||||||||||||||||||||
Due after five years through ten years | 458,992 | 447,603 | |||||||||||||||||||||||
Due after ten years | 1,310 | 1,323 | |||||||||||||||||||||||
$ | 822,924 | 811,735 | |||||||||||||||||||||||
Actual maturities may differ from the above because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. | |||||||||||||||||||||||||
Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unreal. | Fair | Unreal. | Fair | Unreal. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. government sponsored enterprises | $ | 22,503 | 17 | 54,995 | 504 | 77,498 | 521 | ||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 49,195 | 242 | 353,561 | 6,995 | 402,756 | 7,237 | |||||||||||||||||||
Corporate bonds | 501 | 1 | - | - | 501 | 1 | |||||||||||||||||||
Small Business Administration-guaranteed participation securities | - | - | 102,367 | 5,175 | 102,367 | 5,175 | |||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | - | - | 10,543 | 288 | 10,543 | 288 | |||||||||||||||||||
Other | 594 | 6 | - | - | 594 | 6 | |||||||||||||||||||
Total | $ | 72,793 | 266 | 521,466 | 12,962 | 594,259 | 13,228 | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unreal. | Fair | Unreal. | Fair | Unreal. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. government sponsored enterprises | $ | 198,023 | 1,724 | - | - | 198,023 | 1,724 | ||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 466,056 | 17,698 | 54,835 | 2,350 | 520,891 | 20,048 | |||||||||||||||||||
Corporate bonds | 902 | 1 | - | - | 902 | 1 | |||||||||||||||||||
Small Business Administration-guaranteed participation securities | 103,029 | 8,354 | - | - | 103,029 | 8,354 | |||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,558 | 407 | - | - | 10,558 | 407 | |||||||||||||||||||
Total | $ | 778,568 | 28,184 | 54,835 | 2,350 | 833,403 | 30,534 | ||||||||||||||||||
The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three months and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
(dollars in thousands) | Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Proceeds from sales | $ | - | 118,560 | $ | - | 118,560 | |||||||||||||||||||
Proceeds from calls | 39,301 | 96,417 | 180,623 | 205,414 | |||||||||||||||||||||
Gross realized gains | - | 1,512 | 6 | 1,514 | |||||||||||||||||||||
Gross realized losses | - | 80 | - | 80 | |||||||||||||||||||||
Tax expense recognized on net gains on sales of securities available for sale were approximately $573 thousand for the three months ended June 30, 2013. There were no net gains on sales of securities available for sale during the three months ended June 30, 2014. Tax expense recognized on net gains on sales of securities available for sale were approximately $2 thousand and $574 thousand for the six months ended June 30, 2014 and 2013 respectively. | |||||||||||||||||||||||||
(b) Held to maturity securities | |||||||||||||||||||||||||
The amortized cost and fair value of the held to maturity securities are as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | 67,974 | 3,614 | - | 71,588 | ||||||||||||||||||||
Corporate bonds | 9,952 | 1,355 | - | 11,307 | |||||||||||||||||||||
Total held to maturity | $ | 77,926 | 4,969 | - | 82,895 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | 76,270 | 2,744 | 138 | 78,876 | ||||||||||||||||||||
Corporate bonds | 9,945 | 1,484 | - | 11,429 | |||||||||||||||||||||
Total held to maturity | $ | 86,215 | 4,228 | 138 | 90,305 | ||||||||||||||||||||
The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2014, based on the securities’ final maturity (mortgage-backed securities and collateralized mortgage obligations are stated using an estimated average life): | |||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in one year through five years | 76,333 | 81,192 | |||||||||||||||||||||||
Due in five years through ten years | 1,593 | 1,703 | |||||||||||||||||||||||
$ | 77,926 | 82,895 | |||||||||||||||||||||||
Actual maturities may differ from the above because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. | |||||||||||||||||||||||||
Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position as of December 31, 2013 were as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrec. | Fair | Unrec. | Fair | Unrec. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | - | - | - | - | - | - | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrec. | Fair | Unrec. | Fair | Unrec. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 27,091 | 138 | - | - | 27,091 | 138 | |||||||||||||||||||
Total | $ | 27,091 | 138 | - | - | 27,091 | 138 | ||||||||||||||||||
There were no held to maturity securities in an unrecognized loss position as of June 30, 2014. There were no sales or transfers of held to maturity securities during the three months and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||
(c) Other-Than-Temporary Impairment | |||||||||||||||||||||||||
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 an evaluation. The investment securities portfolio is evaluated for OTTI by segregating the portfolio by type and applying the appropriate OTTI model. Investment securities classified as available for sale or held-to-maturity are generally evaluated for OTTI under ASC 320 “Investments – Debt and Equity Securities.” | |||||||||||||||||||||||||
In determining OTTI under the FASB ASC 320 model, management considers many factors, including: (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, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. | |||||||||||||||||||||||||
When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether management intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If management intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If management does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis, the OTTI on debt securities shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. | |||||||||||||||||||||||||
As of June 30, 2014, the Company’s security portfolio consisted of 202 securities, 79 of which were in an unrealized loss position, and are discussed below. | |||||||||||||||||||||||||
U.S. government sponsored enterprises | |||||||||||||||||||||||||
In the case of unrealized losses on U.S. government sponsored enterprises, because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | |||||||||||||||||||||||||
All of the mortgage backed securities and collateralized mortgage obligations held by the Company were issued by U.S. government sponsored entities and agencies, primarily Ginnie Mae, Fannie Mae and Freddie Mac, which are institutions the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
Corporate bonds | |||||||||||||||||||||||||
The Company’s exposure is primarily in bonds of firms in the financial sector. All of the corporate bonds owned continue to be rated investment grade, all are current as to the payment of interest and the Company expects to collect the full amount of the principal balance at maturity. The Company actively monitors the firms and the bonds. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
Small Business Administration (SBA) - guaranteed participation securities | |||||||||||||||||||||||||
All of the SBA securities held by the Company were issued and guaranteed by U.S. Small Business Administration. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | |||||||||||||||||||||||||
All of the mortgage backed securities and collateralized mortgage obligations held by the Company were issued by U.S. government-sponsored entities and agencies, are current as to the payment of interest and principal and the Company expects to collect the full amount of the principal and interest payments. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
Other securities | |||||||||||||||||||||||||
In the case of unrealized losses on other securities, because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2014. | |||||||||||||||||||||||||
As a result of the above analysis, for the year ended June 30, 2014, the Company did not recognize any other-than-temporary impairment losses for credit or any other reason. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Loans and Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||
(5) Loans and Allowance for Loan Losses | |||||||||||||||||||||||||
The following tables present the recorded investment in loans by loan class: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states* | Florida | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 167,815 | 21,908 | 189,723 | |||||||||||||||||||||
Other | 32,864 | 68 | 32,932 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,960,668 | 422,564 | 2,383,232 | ||||||||||||||||||||||
Home equity loans | 49,695 | 4,573 | 54,268 | ||||||||||||||||||||||
Home equity lines of credit | 301,236 | 38,661 | 339,897 | ||||||||||||||||||||||
Installment | 5,466 | 632 | 6,098 | ||||||||||||||||||||||
Total loans, net | $ | 2,517,744 | 488,406 | 3,006,150 | |||||||||||||||||||||
Less: Allowance for loan losses | 46,935 | ||||||||||||||||||||||||
Net loans | $ | 2,959,215 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states* | Florida | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 169,722 | 21,404 | 191,126 | |||||||||||||||||||||
Other | 32,323 | 32 | 32,355 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,909,447 | 378,361 | 2,287,808 | ||||||||||||||||||||||
Home equity loans | 47,494 | 3,642 | 51,136 | ||||||||||||||||||||||
Home equity lines of credit | 304,044 | 36,445 | 340,489 | ||||||||||||||||||||||
Installment | 5,292 | 603 | 5,895 | ||||||||||||||||||||||
Total loans, net | $ | 2,468,322 | 440,487 | 2,908,809 | |||||||||||||||||||||
Less: Allowance for loan losses | 47,714 | ||||||||||||||||||||||||
Net loans | $ | 2,861,095 | |||||||||||||||||||||||
* Includes New York, New Jersey, Vermont, and Massachusetts. | |||||||||||||||||||||||||
At June 30, 2014 and December 31, 2013, the Company had approximately $34.3 million and $35.4 million of real estate construction loans, respectively. Of the $34.3 million in real estate construction loans at June 30, 2014, approximately $15.4 million are secured by first mortgages to residential borrowers while approximately $18.9 million were to commercial borrowers for residential construction projects. Of the $35.4 million in real estate construction loans at December 31, 2013, approximately $13.9 million are secured by first mortgages to residential borrowers while approximately $21.5 million were to commercial borrowers for residential construction projects. The vast majority of construction loans are in the Company’s New York market. | |||||||||||||||||||||||||
TrustCo lends in the geographic territory of its branch locations in New York, Florida, Massachusetts, New Jersey and Vermont. Although the loan portfolio is diversified, a portion of its debtors’ ability to repay depends significantly on the economic conditions prevailing in the respective geographic territory. | |||||||||||||||||||||||||
The following tables present the recorded investment in non-accrual loans by loan class: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states | Florida | Total | |||||||||||||||||||||||
Loans in non-accrual status: | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,010 | 517 | 5,527 | |||||||||||||||||||||
Other | 122 | - | 122 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 26,886 | 3,140 | 30,026 | ||||||||||||||||||||||
Home equity loans | 517 | - | 517 | ||||||||||||||||||||||
Home equity lines of credit | 4,030 | 438 | 4,468 | ||||||||||||||||||||||
Installment | 87 | 1 | 88 | ||||||||||||||||||||||
Total non-accrual loans | 36,652 | 4,096 | 40,748 | ||||||||||||||||||||||
Restructured real estate mortgages - 1 to 4 family | 159 | - | 159 | ||||||||||||||||||||||
Total nonperforming loans | $ | 36,811 | 4,096 | 40,907 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states | Florida | Total | |||||||||||||||||||||||
Loans in non-accrual status: | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 6,620 | - | 6,620 | |||||||||||||||||||||
Other | 332 | - | 332 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 26,713 | 4,781 | 31,494 | ||||||||||||||||||||||
Home equity loans | 691 | - | 691 | ||||||||||||||||||||||
Home equity lines of credit | 3,641 | 356 | 3,997 | ||||||||||||||||||||||
Installment | 93 | - | 93 | ||||||||||||||||||||||
Total non-accrual loans | 38,090 | 5,137 | 43,227 | ||||||||||||||||||||||
Restructured real estate mortgages - 1 to 4 family | 166 | - | 166 | ||||||||||||||||||||||
Total nonperforming loans | $ | 38,256 | 5,137 | 43,393 | |||||||||||||||||||||
As of June 30, 2014 and December 31, 2013, the Company’s loan portfolio did not include any subprime mortgages or loans acquired with deteriorated credit quality. | |||||||||||||||||||||||||
The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
New York and other states*: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90+ | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 54 | - | 3,493 | 3,547 | 164,268 | 167,815 | ||||||||||||||||||
Other | - | - | 122 | 122 | 32,742 | 32,864 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 3,515 | 1,620 | 20,018 | 25,153 | 1,935,515 | 1,960,668 | |||||||||||||||||||
Home equity loans | 57 | 56 | 452 | 565 | 49,130 | 49,695 | |||||||||||||||||||
Home equity lines of credit | 619 | 334 | 2,364 | 3,317 | 297,919 | 301,236 | |||||||||||||||||||
Installment | 75 | 38 | 74 | 187 | 5,279 | 5,466 | |||||||||||||||||||
Total | $ | 4,320 | 2,048 | 26,523 | 32,891 | 2,484,853 | 2,517,744 | ||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 + | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | - | - | - | - | 21,908 | 21,908 | ||||||||||||||||||
Other | - | - | - | - | 68 | 68 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 726 | - | 2,504 | 3,230 | 419,334 | 422,564 | |||||||||||||||||||
Home equity loans | - | - | - | - | 4,573 | 4,573 | |||||||||||||||||||
Home equity lines of credit | 34 | - | 28 | 62 | 38,599 | 38,661 | |||||||||||||||||||
Installment | 14 | - | - | 14 | 618 | 632 | |||||||||||||||||||
Total | $ | 774 | - | 2,532 | 3,306 | 485,100 | 488,406 | ||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 + | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 54 | - | 3,493 | 3,547 | 186,176 | 189,723 | ||||||||||||||||||
Other | - | - | 122 | 122 | 32,810 | 32,932 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4,241 | 1,620 | 22,522 | 28,383 | 2,354,849 | 2,383,232 | |||||||||||||||||||
Home equity loans | 57 | 56 | 452 | 565 | 53,703 | 54,268 | |||||||||||||||||||
Home equity lines of credit | 653 | 334 | 2,392 | 3,379 | 336,518 | 339,897 | |||||||||||||||||||
Installment | 89 | 38 | 74 | 201 | 5,897 | 6,098 | |||||||||||||||||||
Total | $ | 5,094 | 2,048 | 29,055 | 36,197 | 2,969,953 | 3,006,150 | ||||||||||||||||||
New York and other states*: | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 + | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 583 | 1,426 | 3,379 | 5,388 | 164,334 | 169,722 | ||||||||||||||||||
Other | 209 | - | 123 | 332 | 31,991 | 32,323 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4,664 | 2,042 | 17,624 | 24,330 | 1,885,117 | 1,909,447 | |||||||||||||||||||
Home equity loans | 46 | 18 | 552 | 616 | 46,878 | 47,494 | |||||||||||||||||||
Home equity lines of credit | 1,014 | 331 | 1,897 | 3,242 | 300,802 | 304,044 | |||||||||||||||||||
Installment | 85 | 12 | 77 | 174 | 5,118 | 5,292 | |||||||||||||||||||
Total | $ | 6,601 | 3,829 | 23,652 | 34,082 | 2,434,240 | 2,468,322 | ||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 + | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | - | - | - | - | 21,404 | 21,404 | ||||||||||||||||||
Other | - | - | - | - | 32 | 32 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 552 | - | 4,229 | 4,781 | 373,580 | 378,361 | |||||||||||||||||||
Home equity loans | - | - | - | - | 3,642 | 3,642 | |||||||||||||||||||
Home equity lines of credit | 109 | - | 247 | 356 | 36,089 | 36,445 | |||||||||||||||||||
Installment | - | 2 | - | 2 | 601 | 603 | |||||||||||||||||||
Total | $ | 661 | 2 | 4,476 | 5,139 | 435,348 | 440,487 | ||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 + | Total | |||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 583 | 1,426 | 3,379 | 5,388 | 185,738 | 191,126 | ||||||||||||||||||
Other | 209 | - | 123 | 332 | 32,023 | 32,355 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 5,216 | 2,042 | 21,853 | 29,111 | 2,258,697 | 2,287,808 | |||||||||||||||||||
Home equity loans | 46 | 18 | 552 | 616 | 50,520 | 51,136 | |||||||||||||||||||
Home equity lines of credit | 1,123 | 331 | 2,144 | 3,598 | 336,891 | 340,489 | |||||||||||||||||||
Installment | 85 | 14 | 77 | 176 | 5,719 | 5,895 | |||||||||||||||||||
Total | $ | 7,262 | 3,831 | 28,128 | 39,221 | 2,869,588 | 2,908,809 | ||||||||||||||||||
At June 30, 2014 and December 31, 2013, there were no loans that are 90 days past due and still accruing interest. As a result, non-accrual loans includes all loans 90 days past due and greater as well as certain loans less than 90 days past due that were placed on non-accrual status for reasons other than delinquent status. There are no commitments to extend further credit on non-accrual or restructured loans. | |||||||||||||||||||||||||
Activity in the allowance for loan losses by portfolio segment is summarized as follows: | |||||||||||||||||||||||||
(dollars in thousands) | For the three months ended June 30, 2014 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,840 | 43,091 | 104 | 47,035 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 13 | 1,691 | 32 | 1,736 | |||||||||||||||||||||
Florida | - | 75 | 10 | 85 | |||||||||||||||||||||
Total loan chargeoffs | 13 | 1,766 | 42 | 1,821 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | - | 195 | 8 | 203 | |||||||||||||||||||||
Florida | 2 | 16 | - | 18 | |||||||||||||||||||||
Total recoveries | 2 | 211 | 8 | 221 | |||||||||||||||||||||
Net loans charged off | 11 | 1,555 | 34 | 1,600 | |||||||||||||||||||||
Provision for loan losses | 244 | 1,216 | 40 | 1,500 | |||||||||||||||||||||
Balance at end of period | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
(dollars in thousands) | For the three months ended June 30, 2013 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,964 | 43,595 | 99 | 47,658 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 49 | 2,008 | 16 | 2,073 | |||||||||||||||||||||
Florida | - | 162 | - | 162 | |||||||||||||||||||||
Total loan chargeoffs | 49 | 2,170 | 16 | 2,235 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | - | 123 | 3 | 126 | |||||||||||||||||||||
Florida | 1 | 39 | - | 40 | |||||||||||||||||||||
Total recoveries | 1 | 162 | 3 | 166 | |||||||||||||||||||||
Net loans charged off | 48 | 2,008 | 13 | 2,069 | |||||||||||||||||||||
Provision (credit) for loan losses | (197 | ) | 2,179 | 18 | 2,000 | ||||||||||||||||||||
Balance at end of period | $ | 3,719 | 43,766 | 104 | 47,589 | ||||||||||||||||||||
(dollars in thousands) | For the six months ended June 30, 2014 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 4,019 | 43,597 | 98 | 47,714 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 273 | 2,617 | 81 | 2,971 | |||||||||||||||||||||
Florida | 613 | 542 | 12 | 1,167 | |||||||||||||||||||||
Total loan chargeoffs | 886 | 3,159 | 93 | 4,138 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | 18 | 270 | 13 | 301 | |||||||||||||||||||||
Florida | 3 | 55 | - | 58 | |||||||||||||||||||||
Total recoveries | 21 | 325 | 13 | 359 | |||||||||||||||||||||
Net loans charged off | 865 | 2,834 | 80 | 3,779 | |||||||||||||||||||||
Provision for loan losses | 919 | 1,989 | 92 | 3,000 | |||||||||||||||||||||
Balance at end of period | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
(dollars in thousands) | For the six months ended June 30, 2013 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,771 | 44,069 | 87 | 47,927 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 299 | 3,645 | 35 | 3,979 | |||||||||||||||||||||
Florida | 100 | 567 | - | 667 | |||||||||||||||||||||
Total loan chargeoffs | 399 | 4,212 | 35 | 4,646 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | 2 | 197 | 7 | 206 | |||||||||||||||||||||
Florida | 2 | 100 | - | 102 | |||||||||||||||||||||
Total recoveries | 4 | 297 | 7 | 308 | |||||||||||||||||||||
Net loans charged off | 395 | 3,915 | 28 | 4,338 | |||||||||||||||||||||
Provision for loan losses | 343 | 3,612 | 45 | 4,000 | |||||||||||||||||||||
Balance at end of period | $ | 3,719 | 43,766 | 104 | 47,589 | ||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | 1-to-4 Family | ||||||||||||||||||||||||
Commercial Loans | Residential Real Estate | Installment Loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | - | - | - | ||||||||||||||||||||
Collectively evaluated for impairment | 4,073 | 42,752 | 110 | 46,935 | |||||||||||||||||||||
Total ending allowance balance | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,949 | 21,405 | - | 27,354 | ||||||||||||||||||||
Collectively evaluated for impairment | 216,706 | 2,755,992 | 6,098 | 2,978,796 | |||||||||||||||||||||
Total ending loans balance | $ | 222,655 | 2,777,397 | 6,098 | 3,006,150 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | 1-to-4 Family | ||||||||||||||||||||||||
Commercial Loans | Residential Real Estate | Installment Loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | - | - | - | ||||||||||||||||||||
Collectively evaluated for impairment | 4,019 | 43,597 | 98 | 47,714 | |||||||||||||||||||||
Total ending allowance balance | $ | 4,019 | 43,597 | 98 | 47,714 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,082 | 21,258 | - | 29,340 | ||||||||||||||||||||
Collectively evaluated for impairment | 215,399 | 2,658,175 | 5,895 | 2,879,469 | |||||||||||||||||||||
Total ending loans balance | $ | 223,481 | 2,679,433 | 5,895 | 2,908,809 | ||||||||||||||||||||
The Company did not acquire any loans with deteriorated credit quality during the three months or six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||
The Company has identified non-accrual commercial and commercial real estate loans, as well as all loans restructured under a troubled debt restructuring (TDR), as impaired loans. A loan is considered impaired when it is probable that the borrower will be unable to repay the loan according to the original contractual terms of the loan agreement or the loan is restructured in a TDR. | |||||||||||||||||||||||||
A loan for which the terms have been modified, and for which the borrower is experiencing financial difficulties, is considered a TDR and is classified as impaired. TDR’s at June 30, 2014 and December 31, 2013 are measured at the present value of estimated future cash flows using the loan’s effective rate at inception or the fair value of the underlying collateral if the loan is considered collateral dependent. | |||||||||||||||||||||||||
The following tables present impaired loans by loan class as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,310 | 6,792 | - | 5,152 | ||||||||||||||||||||
Other | 122 | 122 | - | 122 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 16,469 | 17,463 | - | 16,872 | |||||||||||||||||||||
Home equity loans | 438 | 482 | - | 492 | |||||||||||||||||||||
Home equity lines of credit | 2,662 | 3,036 | - | 2,583 | |||||||||||||||||||||
Total | $ | 25,001 | 27,895 | - | 25,221 | ||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 517 | 1,130 | - | 721 | ||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,224 | 1,408 | - | 1,533 | |||||||||||||||||||||
Home equity loans | - | - | - | - | |||||||||||||||||||||
Home equity lines of credit | 612 | 684 | - | 538 | |||||||||||||||||||||
Total | $ | 2,353 | 3,222 | - | 2,792 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,827 | 7,922 | - | 5,873 | ||||||||||||||||||||
Other | 122 | 122 | - | 122 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 17,693 | 18,871 | - | 18,405 | |||||||||||||||||||||
Home equity loans | 438 | 482 | - | 492 | |||||||||||||||||||||
Home equity lines of credit | 3,274 | 3,720 | - | 3,121 | |||||||||||||||||||||
Total | $ | 27,354 | 31,117 | - | 28,013 | ||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 6,620 | 8,039 | - | 6,013 | ||||||||||||||||||||
Other | 332 | 332 | - | 165 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 16,257 | 17,353 | - | 14,706 | |||||||||||||||||||||
Home equity loans | 561 | 614 | - | 636 | |||||||||||||||||||||
Home equity lines of credit | 2,528 | 2,825 | - | 2,051 | |||||||||||||||||||||
Total | $ | 26,298 | 29,163 | - | 23,571 | ||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 1,130 | 1,130 | - | 1,401 | ||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,630 | 1,922 | - | 1,611 | |||||||||||||||||||||
Home equity lines of credit | 282 | 380 | - | 100 | |||||||||||||||||||||
Total | $ | 3,042 | 3,432 | - | 3,112 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 7,750 | 9,169 | - | 7,414 | ||||||||||||||||||||
Other | 332 | 332 | - | 165 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 17,887 | 19,275 | - | 16,317 | |||||||||||||||||||||
Home equity loans | 561 | 614 | - | 636 | |||||||||||||||||||||
Home equity lines of credit | 2,810 | 3,205 | - | 2,151 | |||||||||||||||||||||
Total | $ | 29,340 | 32,595 | - | 26,683 | ||||||||||||||||||||
The Company has not committed to lend additional amounts to customers with outstanding loans that are classified as impaired. Interest income recognized on impaired loans was not material during the three months and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||||||
As of June 30, 2014 and December 31, 2013 impaired loans included approximately $8.7 million and $8.6 million of 1 to 4 family residential real estate loans in accruing status that were identified as TDR’s in accordance with regulatory guidance related to Chapter 7 bankruptcy loans. | |||||||||||||||||||||||||
Management evaluates impairment on impaired loans on a quarterly basis. If, during this evaluation, impairment of the loan is identified, a charge off is taken at that time. As a result, as of June 30, 2014 and December 31, 2013, based upon management’s evaluation and due to the sufficiency of chargeoffs taken, none of the allowance for loan losses has been allocated to a specific impaired loan(s). | |||||||||||||||||||||||||
The following table presents, by class, loans that were modified as TDR’s: | |||||||||||||||||||||||||
During the three months ended 6/30/2014 | During the three months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | 1 | $ | 300 | 300 | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 12 | 1,611 | 1,611 | 14 | 2,014 | 2,014 | |||||||||||||||||||
Home equity loans | 1 | 47 | 47 | 4 | 87 | 87 | |||||||||||||||||||
Home equity lines of credit | 2 | 443 | 443 | 2 | 87 | 87 | |||||||||||||||||||
Total | 16 | $ | 2,401 | 2,401 | 20 | $ | 2,188 | 2,188 | |||||||||||||||||
Florida: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 2 | 192 | 192 | 2 | 290 | 290 | |||||||||||||||||||
Home equity lines of credit | - | - | - | 1 | 31 | 31 | |||||||||||||||||||
Total | 2 | $ | 192 | 192 | 3 | $ | 321 | 321 | |||||||||||||||||
During six months ended 6/30/2014 | During the six months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | 1 | $ | 300 | 300 | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 20 | 2,985 | 2,985 | 26 | 3,480 | 3,480 | |||||||||||||||||||
Home equity loans | 2 | 51 | 51 | 7 | 148 | 148 | |||||||||||||||||||
Home equity lines of credit | 3 | 565 | 565 | 7 | 221 | 221 | |||||||||||||||||||
Total | 26 | $ | 3,901 | 3,901 | 40 | $ | 3,849 | 3,849 | |||||||||||||||||
Florida: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4 | 364 | 364 | 5 | 677 | 677 | |||||||||||||||||||
Home equity lines of credit | 2 | 354 | 354 | 1 | 31 | 31 | |||||||||||||||||||
Total | 6 | $ | 718 | 718 | 6 | $ | 708 | 708 | |||||||||||||||||
The addition of these TDR’s did not have a significant impact on the allowance for loan losses. | |||||||||||||||||||||||||
The following table presents, by class, TDR’s that defaulted during the three and six months ended June 30, 2014 and 2013 which had been modified within the last twelve months: | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
Three months ended 6/30/2014 | Three months ended 6/30/2013 | ||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 2 | 161 | 3 | 302 | |||||||||||||||||||||
Home equity loans | - | - | 1 | 44 | |||||||||||||||||||||
Home equity lines of credit | - | - | 1 | 57 | |||||||||||||||||||||
Total | 2 | $ | 161 | 5 | $ | 403 | |||||||||||||||||||
Six months ended 6/30/2014 | Six months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4 | 308 | 21 | 2,634 | |||||||||||||||||||||
Home equity loans | - | - | 3 | 78 | |||||||||||||||||||||
Home equity lines of credit | - | - | 9 | 532 | |||||||||||||||||||||
Total | 4 | $ | 308 | 33 | $ | 3,244 | |||||||||||||||||||
Florida: | |||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | - | - | 3 | 375 | |||||||||||||||||||||
Home equity lines of credit | 1 | 279 | - | - | |||||||||||||||||||||
Total | 1 | $ | 279 | 3 | $ | 375 | |||||||||||||||||||
In situations where the Bank considers a loan modification, management determines whether the borrower is experiencing financial difficulty by performing an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s underwriting policy. | |||||||||||||||||||||||||
Generally, the modification of the terms of loans was the result of the borrower filing for bankruptcy protection. Chapter 13 bankruptcies generally include the deferral of all past due amounts for a period of generally 60 months in accordance with the bankruptcy court order. In the case of Chapter 7 bankruptcies, as previously noted, even though there is no modification of terms, the borrowers’ debt to the Company was discharged and they did not reaffirm the debt. | |||||||||||||||||||||||||
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In situations involving a borrower filing for Chapter 13 bankruptcy protection, however, a loan is considered to be in payment default once it is 30 days contractually past due, consistent with the treatment by the bankruptcy court. | |||||||||||||||||||||||||
The TDR’s that subsequently defaulted described above did not have a material impact on the allowance for loan losses as the underlying collateral was evaluated at the time these loans were identified as TDR’s, and a charge off was taken at that time, if necessary. Collateral values on these loans, as well as all non-accrual loans, are reviewed for collateral sufficiency on a quarterly basis. | |||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. On at least an annual basis, the Company’s loan grading process analyzes non-homogeneous loans over $150 thousand, such as commercial and commercial real estate loans, individually by grading the loans based on credit risk. In addition, the Company’s internal loan review department reviews non-homogeneous loans over $250 thousand by testing the loan grades assigned through the Company’s grading process. | |||||||||||||||||||||||||
The Company uses the following definitions for classified loans: | |||||||||||||||||||||||||
Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. | |||||||||||||||||||||||||
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those loans classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. All doubtful loans are considered impaired. | |||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. | |||||||||||||||||||||||||
As of June 30, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 159,539 | 8,276 | 167,815 | |||||||||||||||||||||
Other | 32,258 | 606 | 32,864 | ||||||||||||||||||||||
$ | 191,797 | 8,882 | 200,679 | ||||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 21,391 | 517 | 21,908 | |||||||||||||||||||||
Other | 68 | - | 68 | ||||||||||||||||||||||
$ | 21,459 | 517 | 21,976 | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 159,024 | 10,698 | 169,722 | |||||||||||||||||||||
Other | 31,691 | 632 | 32,323 | ||||||||||||||||||||||
$ | 190,715 | 11,330 | 202,045 | ||||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 20,274 | 1,130 | 21,404 | |||||||||||||||||||||
Other | 32 | - | 32 | ||||||||||||||||||||||
$ | 20,306 | 1,130 | 21,436 | ||||||||||||||||||||||
Included in classified loans in the above tables are impaired loans of $5.6 million and $8.1 million at June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||
For homogeneous loan pools, such as residential mortgages, home equity lines of credit, and installment loans, the Company uses payment status to identify the credit risk in these loan portfolios. Payment status is reviewed on a daily basis by the Bank’s collection area and on a monthly basis with respect to determining the adequacy of the allowance for loan losses. The payment status of these homogeneous pools at June 30, 2014 and December 31, 2013 is included in the aging of the recorded investment of past due loans table. In addition, the total nonperforming portion of these homogeneous loan pools at June 30, 2014 and December 31, 2013 is presented in the recorded investment in non-accrual loans table. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
(6) Fair Value of Financial Instruments | |||||||||||||||||||||
Fair value measurements (ASC 820) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: | |||||||||||||||||||||
Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access as of the measurement date. | |||||||||||||||||||||
Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||||
Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the value that market participants would use in pricing an asset or liability. | |||||||||||||||||||||
The Company used the following methods and significant assumptions to estimate the fair value of assets and liabilities: | |||||||||||||||||||||
Securities Available for Sale: The fair value of securities available for sale is determined utilizing an independent pricing service for identical assets or significantly similar securities. The pricing service uses a variety of techniques to arrive at fair value including market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. This results in a Level 2 classification of the inputs for determining fair value. Interest and dividend income is recorded on the accrual method and is included in the Consolidated Statements of Income in the respective investment class under total interest and dividend income. Also classified as available for sale securities are equity securities where fair value is determined by quoted market prices and these are designated as Level 1. The Company does not have any securities that would be designated as level 3. | |||||||||||||||||||||
Other Real Estate Owned: Assets acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process to adjust for differences between the comparable sales and income data available. This results in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||
Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally have had a chargeoff through the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process to adjust for differences between the comparable sales and income data available. Such adjustments may be significant and typically result in a Level 3 classification of the inputs for determining fair value. When obtained, non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | |||||||||||||||||||||
Indications of value for both collateral-dependent impaired loans and other real estate owned are obtained from third party providers or the Company’s internal Appraisal Department. All indications of value are reviewed for reasonableness by a member of the Appraisal Department for the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value via comparison with independent data sources such as recent market data or industry-wide statistics. | |||||||||||||||||||||
Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
June 30, 2014 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Securities available-for sale: | |||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 103,340 | - | 103,340 | - | ||||||||||||||||
State and political subdivisions | 3,921 | - | 3,921 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - residential | 589,517 | - | 589,517 | - | |||||||||||||||||
Corporate bonds | 1,402 | - | 1,402 | - | |||||||||||||||||
Small Business Administration-guaranteed participation securities | 102,367 | - | 102,367 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage | |||||||||||||||||||||
obligations - commercial | 10,544 | - | 10,544 | - | |||||||||||||||||
Other securities and equity securities | 679 | 35 | 644 | - | |||||||||||||||||
Total securities available-for-sale | $ | 811,770 | 35 | 811,735 | - | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Securities available-for sale: | |||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 198,829 | - | 198,829 | - | ||||||||||||||||
State and political subdivisions | 7,758 | - | 7,758 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - residential | 532,449 | - | 532,449 | - | |||||||||||||||||
Corporate bonds | 10,471 | - | 10,471 | - | |||||||||||||||||
Small Business Administration-guaranteed participation securities | 103,029 | - | 103,029 | ||||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - commercial | 10,558 | 10,558 | |||||||||||||||||||
Other securities and equity securities | 660 | 10 | 650 | - | |||||||||||||||||
Total securities available-for-sale | $ | 863,754 | 10 | 863,744 | - | ||||||||||||||||
There were no transfers between Level 1 and Level 2 during the three months and six months ended June 30, 2014 and 2013. | |||||||||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
June 30, 2014 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Other real estate owned | $ | 8,295 | - | - | 8,295 | ||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial real estate | 780 | - | - | 780 | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||
First mortgages | 1,317 | - | - | 1,317 | |||||||||||||||||
Home Equity Loans | 13 | - | - | 13 | |||||||||||||||||
Home Equity Lines of Credit | 202 | - | - | 202 | |||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Other real estate owned | $ | 8,729 | - | - | 8,729 | ||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial real estate | 1,802 | - | - | 1,802 | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||
First mortgages | 2,425 | - | - | 2,425 | |||||||||||||||||
Home Equity Loans | 48 | - | - | 48 | |||||||||||||||||
Home Equity Lines of Credit | 810 | - | - | 810 | |||||||||||||||||
Other real estate owned, which is carried at fair value less costs to sell, approximated $8.3 million at June 30, 2014 and consisted of $5.2 million of commercial real estate and $3.1 million of residential real estate properties. Valuation charges of $363 thousand and $998 thousand are included in earnings for the three months and six months ended June 30, 2014, respectively. | |||||||||||||||||||||
Of the total impaired loans of $27.4 million at June 30, 2014, $2.3 million are collateral dependent and have had a charge off taken and are carried at fair value measured on a non-recurring basis. Due to the sufficiency of charge offs taken on these loans and the adequacy of the underlying collateral, there were no specific valuation allowances for these loans at June 30, 2014. Gross charge offs related to commercial impaired loans included in the table above were $13 thousand for the three months ended June 30, 2014, while gross charge offs related to residential impaired loans included in the table above amounted to $78 thousand. For the six months ended June 30, 2014, gross charge offs related to commercial impaired loans included in the table above were $676 thousand while gross charge offs related to residential impaired loans included in the table above amounted to $109 thousand. | |||||||||||||||||||||
Other real estate owned, which is carried at fair value less costs to sell, approximates $8.7 million at December 31, 2013 and consisted of $5.0 million of commercial real estate and $3.7 million of residential real estate properties. A valuation charge of $2.2 million is included in earnings for the year ended December 31, 2013. | |||||||||||||||||||||
Of the total impaired loans of $29.3 million at December 31, 2013, $5.1 million are collateral dependent and have had a charge off taken and are carried at fair value measured on a non-recurring basis. Due to the sufficiency of charge offs taken on these loans and the adequacy of the underlying collateral, there were no specific valuation allowances for these loans at December 31, 2013. Gross charge offs related to commercial impaired loans included in the table above were $761 thousand for the year ended December 31, 2013, while gross charge offs related to residential impaired loans included in the table above amounted to $534 thousand. | |||||||||||||||||||||
In accordance with ASC 825, the carrying amounts and estimated fair values of financial instruments, at June 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
(dollars in thousands) | Fair Value Measurements at | ||||||||||||||||||||
Carrying | June 30, 2014 Using: | ||||||||||||||||||||
Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 621,548 | 621,548 | - | - | 621,548 | |||||||||||||||
Securities available for sale | 811,770 | 35 | 811,735 | - | 811,770 | ||||||||||||||||
Held to maturity securities | 77,926 | - | 82,895 | - | 82,895 | ||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank stock | 10,951 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Net loans | 2,959,215 | - | - | 3,002,229 | 3,002,229 | ||||||||||||||||
Accrued interest receivable | 11,350 | - | 3,233 | 8,117 | 11,350 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Demand deposits | 324,277 | 324,277 | - | - | 324,277 | ||||||||||||||||
Interest bearing deposits | 3,670,910 | 2,528,187 | 1,143,337 | - | 3,671,524 | ||||||||||||||||
Short-term borrowings | 181,516 | - | 181,516 | - | 181,516 | ||||||||||||||||
Accrued interest payable | 466 | 100 | 366 | - | 466 | ||||||||||||||||
(dollars in thousands) | Fair Value Measurements at | ||||||||||||||||||||
Carrying | December 31, 2013 Using: | ||||||||||||||||||||
Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 583,044 | 583,044 | - | - | 583,044 | |||||||||||||||
Securities available for sale | 863,754 | 10 | 863,744 | - | 863,754 | ||||||||||||||||
Held to maturity securities | 86,215 | - | 90,305 | - | 90,305 | ||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank stock | 10,500 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Net loans | 2,861,095 | - | - | 2,910,940 | 2,910,940 | ||||||||||||||||
Accrued interest receivable | 11,198 | - | 3,452 | 7,746 | 11,198 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Demand deposits | 318,456 | 318,456 | - | - | 318,456 | ||||||||||||||||
Interest bearing deposits | 3,608,615 | 2,477,567 | 1,132,025 | - | 3,609,592 | ||||||||||||||||
Short-term borrowings | 204,162 | - | 204,162 | - | 204,162 | ||||||||||||||||
Accrued interest payable | 468 | 101 | 367 | - | 468 | ||||||||||||||||
The specific estimation methods and assumptions used can have a substantial impact on the resulting fair values of financial instruments. Following is a brief summary of the significant methods and assumptions used in estimating fair values: | |||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
The carrying values of these financial instruments approximate fair values and are classified as Level 1. | |||||||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank stock | |||||||||||||||||||||
It is not practical to determine the fair value of Federal Reserve Bank and Federal Home Loan Bank stock due to their restrictive nature. | |||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||
Similar to securities available for sale described previously, the fair value of securities held to maturity are determined utilizing an independent pricing service for identical assets or significantly similar securities. The pricing service uses a variety of techniques to arrive at fair value including market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. This results in a Level 2 classification of the inputs for determining fair value. Interest and dividend income is recorded on the accrual method and included in the Consolidated Statements of Income in the respective investment class under total interest and dividend income. The Company does not have any securities that would be designated as Level 3. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
The fair values of all loans are estimated using discounted cash flow analyses with discount rates equal to the interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||
Deposit Liabilities | |||||||||||||||||||||
The fair values disclosed for noninterest bearing demand deposits, interest bearing checking accounts, savings accounts, and money market accounts are, by definition, equal to the amount payable on demand at the balance sheet date resulting in a Level 1 classification. The carrying value of all variable rate certificates of deposit approximates fair value resulting in a Level 2 classification. The fair value of fixed rate certificates of deposit is estimated using discounted cash flow analyses with discount rates equal to the interest rates currently being offered on certificates of similar size and remaining maturity resulting in a Level 2 classification. | |||||||||||||||||||||
Accrued Interest Receivable/Payable | |||||||||||||||||||||
The carrying amounts of accrued interest approximate fair value resulting in a Level 1, Level 2 or Level 3 classification consistent with the asset or liability that they are associated with. | |||||||||||||||||||||
Short-Term Borrowings and Other Financial Instruments | |||||||||||||||||||||
The fair value of all short-term borrowings, and other financial instruments approximates the carrying value resulting in a Level 2 classification. | |||||||||||||||||||||
Financial Instruments with Off-Balance Sheet Risk | |||||||||||||||||||||
The Company is a party to financial instruments with off-balance sheet risk. Such financial instruments consist of commitments to extend financing and standby letters of credit. If the commitments are exercised by the prospective borrowers, these financial instruments will become interest earning assets of the Company. If the commitments expire, the Company retains any fees paid by the prospective borrower. The fair value of commitments is estimated based upon fees currently charged to enter into similar agreements, taking into consideration the remaining terms of the agreements and the present creditworthiness of the borrower. For fixed rate commitments, the fair value estimation takes into consideration an interest rate risk factor. The fair value of these off-balance sheet items approximates the recorded amounts of the related fees, which are considered to be immaterial. | |||||||||||||||||||||
The Company does not engage in activities involving interest rate swaps, forward placement contracts, or any other instruments commonly referred to as derivatives. |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||
Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
(7) Other Comprehensive Income (Loss) | |||||||||||||||||||||
The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax: | |||||||||||||||||||||
For the three months ended 6/30/2014 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
3/31/14 | Comprehensive | reclassified | Comprehensive | 6/30/14 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Three months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2014 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | (13,655 | ) | 6,912 | - | 6,912 | (6,743 | ) | ||||||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | 4,203 | - | (71 | ) | (71 | ) | 4,132 | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | (9,452 | ) | 6,912 | (71 | ) | 6,841 | (2,611 | ) | |||||||||||||
For the three months ended 6/30/2013 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
3/31/13 | Comprehensive | reclassified | Comprehensive | 6/30/13 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Three months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2013 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | $ | 1,987 | (15,824 | ) | (859 | ) | (16,683 | ) | (14,696 | ) | |||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | (2,156 | ) | - | 21 | 21 | (2,135 | ) | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | $ | (169 | ) | (15,824 | ) | (838 | ) | (16,662 | ) | (16,831 | ) | ||||||||||
For the six months ended 6/30/2014 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
12/31/13 | Comprehensive | reclassified | Comprehensive | 6/30/14 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Six months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2014 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | (18,078 | ) | 11,339 | (4 | ) | 11,335 | (6,743 | ) | |||||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | 4,275 | - | (143 | ) | (143 | ) | 4,132 | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | (13,803 | ) | 11,339 | (147 | ) | 11,192 | (2,611 | ) | |||||||||||||
For the six months ended 6/30/2013 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
12/31/12 | Comprehensive | reclassified | Comprehensive | 6/30/13 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Six months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2013 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | $ | 3,755 | (17,591 | ) | (860 | ) | (18,451 | ) | (14,696 | ) | |||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | (2,197 | ) | - | 62 | 62 | (2,135 | ) | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | $ | 1,558 | (17,591 | ) | (798 | ) | (18,389 | ) | (16,831 | ) | |||||||||||
The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three months and six months ended June 30, 2014 and 2013: | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Unrealized gains (losses) on securities available for sale | |||||||||||||||||||||
Realized gain on securities transactions | - | 1,432 | 6 | 1,434 | |||||||||||||||||
Income tax expense | - | (573 | ) | (2 | ) | (574 | ) | ||||||||||||||
Net of tax | - | 859 | 4 | 860 | |||||||||||||||||
Amortization of pension and postretirement benefit items | |||||||||||||||||||||
Amortization of net actuarial gain (loss) | 74 | (101 | ) | 146 | (233 | ) | |||||||||||||||
Amortization of prior service credit | 45 | 65 | 90 | 131 | |||||||||||||||||
Income tax (expense) benefit | (48 | ) | 15 | (93 | ) | 40 | |||||||||||||||
Net of tax | 71 | (21 | ) | 143 | (62 | ) | |||||||||||||||
Total reclassifications, net of tax | 71 | 838 | 147 | 798 |
New_Accounting_Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements [Abstract] | ' |
New Accounting Pronouncements | ' |
(8) New Accounting Pronouncements | |
In January 2014, the FASB issued Accounting Standards Update ("ASU") 2014-04 -Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40) – Reclassification of Residential Real Estate Collateralized Consumer Mortgage loans upon Foreclosure. This standard provides clarification when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be removed from the balance sheet and other real estate owned recognized. These amendments clarify that when an in-substance foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either: (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. For public business entities (PBEs) this ASU is effective for annual periods, and interim periods within those annual periods, beginning after Dec 15, 2014. For entities that are not PBEs, this ASU is effective for annual periods beginning after Dec 15, 2014, and for interim periods within annual periods beginning after Dec 15, 2015. Early adoption is permitted. The effect of adopting this standard is not expected to have a material effect on the Company’s results of operations or financial condition. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Reconciliation of component parts of earnings per share | ' | ||||||||
A reconciliation of the component parts of earnings per share for the three months and six months ended June 30, 2014 and 2013 is as follows: | |||||||||
(dollars in thousands, except per share data) | |||||||||
2014 | 2013 | ||||||||
For the three months ended June 30: | |||||||||
Net income | $ | 11,808 | $ | 9,763 | |||||
Less: Net income allocated to participating securities | 13 | 11 | |||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Basic EPS: | |||||||||
Distributed earnings allocated to common stock | $ | 6,213 | $ | 6,182 | |||||
Undistributed earnings allocated to common stock | 5,582 | 3,570 | |||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Weighted average common shares outstanding including participating securities | 94,665 | 94,204 | |||||||
Less: Participating securities | 106 | 106 | |||||||
Weighted average common shares | 94,559 | 94,098 | |||||||
Basic EPS | 0.125 | 0.104 | |||||||
Diluted EPS: | |||||||||
Net income allocated to common shareholders | $ | 11,795 | $ | 9,752 | |||||
Weighted average common shares for basic EPS | 94,559 | 94,098 | |||||||
Effect of Dilutive Securities: | |||||||||
Stock Options | 116 | 7 | |||||||
Weighted average common shares including potential dilutive shares | 94,675 | 94,105 | |||||||
Diluted EPS | 0.125 | 0.104 | |||||||
(dollars in thousands, except per share data) | |||||||||
2014 | 2013 | ||||||||
For the six months ended June 30: | |||||||||
Net income | $ | 22,819 | $ | 18,931 | |||||
Less: Net income allocated to participating securities | 26 | 21 | |||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Basic EPS: | |||||||||
Distributed earnings allocated to common stock | $ | 12,419 | $ | 12,356 | |||||
Undistributed earnings allocated to common stock | 10,374 | 6,554 | |||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Weighted average common shares outstanding including participating securities | 94,642 | 94,134 | |||||||
Less: Participating securities | 106 | 106 | |||||||
Weighted average common shares | 94,536 | 94,028 | |||||||
Basic EPS | 0.241 | 0.201 | |||||||
Diluted EPS: | |||||||||
Net income allocated to common shareholders | $ | 22,793 | $ | 18,910 | |||||
Weighted average common shares for basic EPS | 94,536 | 94,028 | |||||||
Effect of Dilutive Securities: | |||||||||
Stock Options | 122 | 6 | |||||||
Weighted average common shares including potential dilutive shares | 94,658 | 94,034 | |||||||
Diluted EPS | 0.241 | 0.201 |
Benefit_Plans_Tables
Benefit Plans (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Benefit Plans [Abstract] | ' | ||||||||||||||||
Components of Company's net periodic cost | ' | ||||||||||||||||
The table below outlines the components of the Company's net periodic benefit recognized during the three month and six month periods ended June 30, 2014 and 2013 for its pension and other postretirement benefit plans: | |||||||||||||||||
For the three months ended June 30, | |||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | 18 | 20 | 15 | 14 | |||||||||||||
Interest cost | 336 | 322 | 32 | 27 | |||||||||||||
Expected return on plan assets | (609 | ) | (597 | ) | (169 | ) | (126 | ) | |||||||||
Amortization of net (gain) loss | - | 111 | (74 | ) | (10 | ) | |||||||||||
Amortization of prior service credit | - | - | (45 | ) | (65 | ) | |||||||||||
Net periodic benefit | (255 | ) | (144 | ) | (241 | ) | (160 | ) | |||||||||
For the six months ended June 30, | |||||||||||||||||
Pension Benefits | Other Postretirement Benefits | ||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | 36 | 34 | 29 | 26 | |||||||||||||
Interest cost | 672 | 637 | 64 | 51 | |||||||||||||
Expected return on plan assets | (1,218 | ) | (1,095 | ) | (338 | ) | (249 | ) | |||||||||
Amortization of net (gain) loss | - | 258 | (146 | ) | (25 | ) | |||||||||||
Amortization of prior service credit | - | - | (90 | ) | (131 | ) | |||||||||||
Net periodic benefit | (510 | ) | (166 | ) | (481 | ) | (328 | ) |
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized cost and fair value of the securities available for sale | ' | ||||||||||||||||||||||||
The amortized cost and fair value of the securities available for sale are as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
U.S. government sponsored enterprises | $ | 103,805 | 56 | 521 | 103,340 | ||||||||||||||||||||
State and political subdivisions | 3,823 | 98 | - | 3,921 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 594,869 | 1,885 | 7,237 | 589,517 | |||||||||||||||||||||
Corporate bonds | 1,403 | - | 1 | 1,402 | |||||||||||||||||||||
Small Business Administration-guaranteed participation securities | 107,542 | - | 5,175 | 102,367 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,832 | - | 288 | 10,544 | |||||||||||||||||||||
Other | 650 | - | 6 | 644 | |||||||||||||||||||||
Total debt securities | 822,924 | 2,039 | 13,228 | 811,735 | |||||||||||||||||||||
Equity securities | 35 | - | - | 35 | |||||||||||||||||||||
Total securities available for sale | $ | 822,959 | 2,039 | 13,228 | 811,770 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
U.S. government sponsored enterprises | $ | 200,531 | 22 | 1,724 | 198,829 | ||||||||||||||||||||
State and political subdivisions | 7,623 | 135 | - | 7,758 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 552,230 | 267 | 20,048 | 532,449 | |||||||||||||||||||||
Corporate bonds | 10,429 | 43 | 1 | 10,471 | |||||||||||||||||||||
Small Business Administration-guaranteed participation securities | 111,383 | - | 8,354 | 103,029 | |||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,965 | - | 407 | 10,558 | |||||||||||||||||||||
Other | 650 | - | - | 650 | |||||||||||||||||||||
Total debt securities | 893,811 | 467 | 30,534 | 863,744 | |||||||||||||||||||||
Equity securities | 10 | - | - | 10 | |||||||||||||||||||||
Total securities available for sale | $ | 893,821 | 467 | 30,534 | 863,754 | ||||||||||||||||||||
Investment [Line Items] | ' | ||||||||||||||||||||||||
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses | ' | ||||||||||||||||||||||||
The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three months and six months ended June 30, 2014 and 2013 are as follows: | |||||||||||||||||||||||||
(dollars in thousands) | Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Proceeds from sales | $ | - | 118,560 | $ | - | 118,560 | |||||||||||||||||||
Proceeds from calls | 39,301 | 96,417 | 180,623 | 205,414 | |||||||||||||||||||||
Gross realized gains | - | 1,512 | 6 | 1,514 | |||||||||||||||||||||
Gross realized losses | - | 80 | - | 80 | |||||||||||||||||||||
Amortized cost and fair value of the held to maturity securities | ' | ||||||||||||||||||||||||
The amortized cost and fair value of the held to maturity securities are as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | 67,974 | 3,614 | - | 71,588 | ||||||||||||||||||||
Corporate bonds | 9,952 | 1,355 | - | 11,307 | |||||||||||||||||||||
Total held to maturity | $ | 77,926 | 4,969 | - | 82,895 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | 76,270 | 2,744 | 138 | 78,876 | ||||||||||||||||||||
Corporate bonds | 9,945 | 1,484 | - | 11,429 | |||||||||||||||||||||
Total held to maturity | $ | 86,215 | 4,228 | 138 | 90,305 | ||||||||||||||||||||
Securities available for sale [Member] | ' | ||||||||||||||||||||||||
Investment [Line Items] | ' | ||||||||||||||||||||||||
Debt securities based on the securities final maturity | ' | ||||||||||||||||||||||||
The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2014, based on the securities’ final maturity (mortgage-backed securities and collateralized mortgage obligations are stated using an estimated average life): | |||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in one year or less | $ | 2,195 | 2,213 | ||||||||||||||||||||||
Due in one year through five years | 360,427 | 360,596 | |||||||||||||||||||||||
Due after five years through ten years | 458,992 | 447,603 | |||||||||||||||||||||||
Due after ten years | 1,310 | 1,323 | |||||||||||||||||||||||
$ | 822,924 | 811,735 | |||||||||||||||||||||||
Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position | ' | ||||||||||||||||||||||||
Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unreal. | Fair | Unreal. | Fair | Unreal. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. government sponsored enterprises | $ | 22,503 | 17 | 54,995 | 504 | 77,498 | 521 | ||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 49,195 | 242 | 353,561 | 6,995 | 402,756 | 7,237 | |||||||||||||||||||
Corporate bonds | 501 | 1 | - | - | 501 | 1 | |||||||||||||||||||
Small Business Administration-guaranteed participation securities | - | - | 102,367 | 5,175 | 102,367 | 5,175 | |||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | - | - | 10,543 | 288 | 10,543 | 288 | |||||||||||||||||||
Other | 594 | 6 | - | - | 594 | 6 | |||||||||||||||||||
Total | $ | 72,793 | 266 | 521,466 | 12,962 | 594,259 | 13,228 | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unreal. | Fair | Unreal. | Fair | Unreal. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. government sponsored enterprises | $ | 198,023 | 1,724 | - | - | 198,023 | 1,724 | ||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 466,056 | 17,698 | 54,835 | 2,350 | 520,891 | 20,048 | |||||||||||||||||||
Corporate bonds | 902 | 1 | - | - | 902 | 1 | |||||||||||||||||||
Small Business Administration-guaranteed participation securities | 103,029 | 8,354 | - | - | 103,029 | 8,354 | |||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - commercial | 10,558 | 407 | - | - | 10,558 | 407 | |||||||||||||||||||
Total | $ | 778,568 | 28,184 | 54,835 | 2,350 | 833,403 | 30,534 | ||||||||||||||||||
Held to maturity securities [Member] | ' | ||||||||||||||||||||||||
Investment [Line Items] | ' | ||||||||||||||||||||||||
Debt securities based on the securities final maturity | ' | ||||||||||||||||||||||||
The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2014, based on the securities’ final maturity (mortgage-backed securities and collateralized mortgage obligations are stated using an estimated average life): | |||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Due in one year through five years | 76,333 | 81,192 | |||||||||||||||||||||||
Due in five years through ten years | 1,593 | 1,703 | |||||||||||||||||||||||
$ | 77,926 | 82,895 | |||||||||||||||||||||||
Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position | ' | ||||||||||||||||||||||||
Actual maturities may differ from the above because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. | |||||||||||||||||||||||||
Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position as of December 31, 2013 were as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrec. | Fair | Unrec. | Fair | Unrec. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | $ | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | - | - | - | - | - | - | ||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Less than | 12 months | |||||||||||||||||||||||
12 months | or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrec. | Fair | Unrec. | Fair | Unrec. | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Mortgage backed securities and collateralized mortgage obligations - residential | 27,091 | 138 | - | - | 27,091 | 138 | |||||||||||||||||||
Total | $ | 27,091 | 138 | - | - | 27,091 | 138 |
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Loans and Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||
Recorded investment in loans by loan class | ' | ||||||||||||||||||||||||
The following tables present the recorded investment in loans by loan class: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states* | Florida | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 167,815 | 21,908 | 189,723 | |||||||||||||||||||||
Other | 32,864 | 68 | 32,932 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,960,668 | 422,564 | 2,383,232 | ||||||||||||||||||||||
Home equity loans | 49,695 | 4,573 | 54,268 | ||||||||||||||||||||||
Home equity lines of credit | 301,236 | 38,661 | 339,897 | ||||||||||||||||||||||
Installment | 5,466 | 632 | 6,098 | ||||||||||||||||||||||
Total loans, net | $ | 2,517,744 | 488,406 | 3,006,150 | |||||||||||||||||||||
Less: Allowance for loan losses | 46,935 | ||||||||||||||||||||||||
Net loans | $ | 2,959,215 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states* | Florida | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 169,722 | 21,404 | 191,126 | |||||||||||||||||||||
Other | 32,323 | 32 | 32,355 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,909,447 | 378,361 | 2,287,808 | ||||||||||||||||||||||
Home equity loans | 47,494 | 3,642 | 51,136 | ||||||||||||||||||||||
Home equity lines of credit | 304,044 | 36,445 | 340,489 | ||||||||||||||||||||||
Installment | 5,292 | 603 | 5,895 | ||||||||||||||||||||||
Total loans, net | $ | 2,468,322 | 440,487 | 2,908,809 | |||||||||||||||||||||
Less: Allowance for loan losses | 47,714 | ||||||||||||||||||||||||
Net loans | $ | 2,861,095 | |||||||||||||||||||||||
* Includes New York, New Jersey, Vermont and Massachusetts. | |||||||||||||||||||||||||
* Includes New York, New Jersey, Vermont, and Massachusetts. | |||||||||||||||||||||||||
Recorded investment in non-accrual loans by loan class | ' | ||||||||||||||||||||||||
The following tables present the recorded investment in non-accrual loans by loan class: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states | Florida | Total | |||||||||||||||||||||||
Loans in non-accrual status: | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,010 | 517 | 5,527 | |||||||||||||||||||||
Other | 122 | - | 122 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 26,886 | 3,140 | 30,026 | ||||||||||||||||||||||
Home equity loans | 517 | - | 517 | ||||||||||||||||||||||
Home equity lines of credit | 4,030 | 438 | 4,468 | ||||||||||||||||||||||
Installment | 87 | 1 | 88 | ||||||||||||||||||||||
Total non-accrual loans | 36,652 | 4,096 | 40,748 | ||||||||||||||||||||||
Restructured real estate mortgages - 1 to 4 family | 159 | - | 159 | ||||||||||||||||||||||
Total nonperforming loans | $ | 36,811 | 4,096 | 40,907 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | New York and | ||||||||||||||||||||||||
other states | Florida | Total | |||||||||||||||||||||||
Loans in non-accrual status: | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 6,620 | - | 6,620 | |||||||||||||||||||||
Other | 332 | - | 332 | ||||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 26,713 | 4,781 | 31,494 | ||||||||||||||||||||||
Home equity loans | 691 | - | 691 | ||||||||||||||||||||||
Home equity lines of credit | 3,641 | 356 | 3,997 | ||||||||||||||||||||||
Installment | 93 | - | 93 | ||||||||||||||||||||||
Total non-accrual loans | 38,090 | 5,137 | 43,227 | ||||||||||||||||||||||
Restructured real estate mortgages - 1 to 4 family | 166 | - | 166 | ||||||||||||||||||||||
Total nonperforming loans | $ | 38,256 | 5,137 | 43,393 | |||||||||||||||||||||
Aging of the recorded investment in past due loans by loan class and by region | ' | ||||||||||||||||||||||||
The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
New York and other states*: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 54 | - | 3,493 | 3,547 | 164,268 | 167,815 | ||||||||||||||||||
Other | - | - | 122 | 122 | 32,742 | 32,864 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 3,515 | 1,620 | 20,018 | 25,153 | 1,935,515 | 1,960,668 | |||||||||||||||||||
Home equity loans | 57 | 56 | 452 | 565 | 49,130 | 49,695 | |||||||||||||||||||
Home equity lines of credit | 619 | 334 | 2,364 | 3,317 | 297,919 | 301,236 | |||||||||||||||||||
Installment | 75 | 38 | 74 | 187 | 5,279 | 5,466 | |||||||||||||||||||
Total | $ | 4,320 | 2,048 | 26,523 | 32,891 | 2,484,853 | 2,517,744 | ||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | - | - | - | - | 21,908 | 21,908 | ||||||||||||||||||
Other | - | - | - | - | 68 | 68 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 726 | - | 2,504 | 3,230 | 419,334 | 422,564 | |||||||||||||||||||
Home equity loans | - | - | - | - | 4,573 | 4,573 | |||||||||||||||||||
Home equity lines of credit | 34 | - | 28 | 62 | 38,599 | 38,661 | |||||||||||||||||||
Installment | 14 | - | - | 14 | 618 | 632 | |||||||||||||||||||
Total | $ | 774 | - | 2,532 | 3,306 | 485,100 | 488,406 | ||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 54 | - | 3,493 | 3,547 | 186,176 | 189,723 | ||||||||||||||||||
Other | - | - | 122 | 122 | 32,810 | 32,932 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4,241 | 1,620 | 22,522 | 28,383 | 2,354,849 | 2,383,232 | |||||||||||||||||||
Home equity loans | 57 | 56 | 452 | 565 | 53,703 | 54,268 | |||||||||||||||||||
Home equity lines of credit | 653 | 334 | 2,392 | 3,379 | 336,518 | 339,897 | |||||||||||||||||||
Installment | 89 | 38 | 74 | 201 | 5,897 | 6,098 | |||||||||||||||||||
Total | $ | 5,094 | 2,048 | 29,055 | 36,197 | 2,969,953 | 3,006,150 | ||||||||||||||||||
New York and other states*: | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 583 | 1,426 | 3,379 | 5,388 | 164,334 | 169,722 | ||||||||||||||||||
Other | 209 | - | 123 | 332 | 31,991 | 32,323 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4,664 | 2,042 | 17,624 | 24,330 | 1,885,117 | 1,909,447 | |||||||||||||||||||
Home equity loans | 46 | 18 | 552 | 616 | 46,878 | 47,494 | |||||||||||||||||||
Home equity lines of credit | 1,014 | 331 | 1,897 | 3,242 | 300,802 | 304,044 | |||||||||||||||||||
Installment | 85 | 12 | 77 | 174 | 5,118 | 5,292 | |||||||||||||||||||
Total | $ | 6,601 | 3,829 | 23,652 | 34,082 | 2,434,240 | 2,468,322 | ||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | - | - | - | - | 21,404 | 21,404 | ||||||||||||||||||
Other | - | - | - | - | 32 | 32 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 552 | - | 4,229 | 4,781 | 373,580 | 378,361 | |||||||||||||||||||
Home equity loans | - | - | - | - | 3,642 | 3,642 | |||||||||||||||||||
Home equity lines of credit | 109 | - | 247 | 356 | 36,089 | 36,445 | |||||||||||||||||||
Installment | - | 2 | - | 2 | 601 | 603 | |||||||||||||||||||
Total | $ | 661 | 2 | 4,476 | 5,139 | 435,348 | 440,487 | ||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | 30-59 | 60-89 | 90 | + | Total | ||||||||||||||||||||
Days | Days | Days | 30+ days | Total | |||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 583 | 1,426 | 3,379 | 5,388 | 185,738 | 191,126 | ||||||||||||||||||
Other | 209 | - | 123 | 332 | 32,023 | 32,355 | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 5,216 | 2,042 | 21,853 | 29,111 | 2,258,697 | 2,287,808 | |||||||||||||||||||
Home equity loans | 46 | 18 | 552 | 616 | 50,520 | 51,136 | |||||||||||||||||||
Home equity lines of credit | 1,123 | 331 | 2,144 | 3,598 | 336,891 | 340,489 | |||||||||||||||||||
Installment | 85 | 14 | 77 | 176 | 5,719 | 5,895 | |||||||||||||||||||
Total | $ | 7,262 | 3,831 | 28,128 | 39,221 | 2,869,588 | 2,908,809 | ||||||||||||||||||
Transactions in the allowance for loan losses by portfolio segment | ' | ||||||||||||||||||||||||
Activity in the allowance for loan losses by portfolio segment is summarized as follows: | |||||||||||||||||||||||||
(dollars in thousands) | For the three months ended June 30, 2014 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,840 | 43,091 | 104 | 47,035 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 13 | 1,691 | 32 | 1,736 | |||||||||||||||||||||
Florida | - | 75 | 10 | 85 | |||||||||||||||||||||
Total loan chargeoffs | 13 | 1,766 | 42 | 1,821 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | - | 195 | 8 | 203 | |||||||||||||||||||||
Florida | 2 | 16 | - | 18 | |||||||||||||||||||||
Total recoveries | 2 | 211 | 8 | 221 | |||||||||||||||||||||
Net loans charged off | 11 | 1,555 | 34 | 1,600 | |||||||||||||||||||||
Provision for loan losses | 244 | 1,216 | 40 | 1,500 | |||||||||||||||||||||
Balance at end of period | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
(dollars in thousands) | For the three months ended June 30, 2013 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,964 | 43,595 | 99 | 47,658 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 49 | 2,008 | 16 | 2,073 | |||||||||||||||||||||
Florida | - | 162 | - | 162 | |||||||||||||||||||||
Total loan chargeoffs | 49 | 2,170 | 16 | 2,235 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | - | 123 | 3 | 126 | |||||||||||||||||||||
Florida | 1 | 39 | - | 40 | |||||||||||||||||||||
Total recoveries | 1 | 162 | 3 | 166 | |||||||||||||||||||||
Net loans charged off | 48 | 2,008 | 13 | 2,069 | |||||||||||||||||||||
Provision (credit) for loan losses | (197 | ) | 2,179 | 18 | 2,000 | ||||||||||||||||||||
Balance at end of period | $ | 3,719 | 43,766 | 104 | 47,589 | ||||||||||||||||||||
(dollars in thousands) | For the six months ended June 30, 2014 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 4,019 | 43,597 | 98 | 47,714 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 273 | 2,617 | 81 | 2,971 | |||||||||||||||||||||
Florida | 613 | 542 | 12 | 1,167 | |||||||||||||||||||||
Total loan chargeoffs | 886 | 3,159 | 93 | 4,138 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | 18 | 270 | 13 | 301 | |||||||||||||||||||||
Florida | 3 | 55 | - | 58 | |||||||||||||||||||||
Total recoveries | 21 | 325 | 13 | 359 | |||||||||||||||||||||
Net loans charged off | 865 | 2,834 | 80 | 3,779 | |||||||||||||||||||||
Provision for loan losses | 919 | 1,989 | 92 | 3,000 | |||||||||||||||||||||
Balance at end of period | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
(dollars in thousands) | For the six months ended June 30, 2013 | ||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Mortgage- | |||||||||||||||||||||||||
Commercial | 1 to 4 Family | Installment | Total | ||||||||||||||||||||||
Balance at beginning of period | $ | 3,771 | 44,069 | 87 | 47,927 | ||||||||||||||||||||
Loans charged off: | |||||||||||||||||||||||||
New York and other states | 299 | 3,645 | 35 | 3,979 | |||||||||||||||||||||
Florida | 100 | 567 | - | 667 | |||||||||||||||||||||
Total loan chargeoffs | 399 | 4,212 | 35 | 4,646 | |||||||||||||||||||||
Recoveries of loans previously charged off: | |||||||||||||||||||||||||
New York and other states | 2 | 197 | 7 | 206 | |||||||||||||||||||||
Florida | 2 | 100 | - | 102 | |||||||||||||||||||||
Total recoveries | 4 | 297 | 7 | 308 | |||||||||||||||||||||
Net loans charged off | 395 | 3,915 | 28 | 4,338 | |||||||||||||||||||||
Provision for loan losses | 343 | 3,612 | 45 | 4,000 | |||||||||||||||||||||
Balance at end of period | $ | 3,719 | 43,766 | 104 | 47,589 | ||||||||||||||||||||
Allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method | ' | ||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | 1-to-4 Family | ||||||||||||||||||||||||
Commercial Loans | Residential Real Estate | Installment Loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | - | - | - | ||||||||||||||||||||
Collectively evaluated for impairment | 4,073 | 42,752 | 110 | 46,935 | |||||||||||||||||||||
Total ending allowance balance | $ | 4,073 | 42,752 | 110 | 46,935 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,949 | 21,405 | - | 27,354 | ||||||||||||||||||||
Collectively evaluated for impairment | 216,706 | 2,755,992 | 6,098 | 2,978,796 | |||||||||||||||||||||
Total ending loans balance | $ | 222,655 | 2,777,397 | 6,098 | 3,006,150 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | 1-to-4 Family | ||||||||||||||||||||||||
Commercial Loans | Residential Real Estate | Installment Loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | - | - | - | ||||||||||||||||||||
Collectively evaluated for impairment | 4,019 | 43,597 | 98 | 47,714 | |||||||||||||||||||||
Total ending allowance balance | $ | 4,019 | 43,597 | 98 | 47,714 | ||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 8,082 | 21,258 | - | 29,340 | ||||||||||||||||||||
Collectively evaluated for impairment | 215,399 | 2,658,175 | 5,895 | 2,879,469 | |||||||||||||||||||||
Total ending loans balance | $ | 223,481 | 2,679,433 | 5,895 | 2,908,809 | ||||||||||||||||||||
Impaired loans by loan class | ' | ||||||||||||||||||||||||
The following tables present impaired loans by loan class as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,310 | 6,792 | - | 5,152 | ||||||||||||||||||||
Other | 122 | 122 | - | 122 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 16,469 | 17,463 | - | 16,872 | |||||||||||||||||||||
Home equity loans | 438 | 482 | - | 492 | |||||||||||||||||||||
Home equity lines of credit | 2,662 | 3,036 | - | 2,583 | |||||||||||||||||||||
Total | $ | 25,001 | 27,895 | - | 25,221 | ||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 517 | 1,130 | - | 721 | ||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,224 | 1,408 | - | 1,533 | |||||||||||||||||||||
Home equity loans | - | - | - | - | |||||||||||||||||||||
Home equity lines of credit | 612 | 684 | - | 538 | |||||||||||||||||||||
Total | $ | 2,353 | 3,222 | - | 2,792 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 5,827 | 7,922 | - | 5,873 | ||||||||||||||||||||
Other | 122 | 122 | - | 122 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 17,693 | 18,871 | - | 18,405 | |||||||||||||||||||||
Home equity loans | 438 | 482 | - | 492 | |||||||||||||||||||||
Home equity lines of credit | 3,274 | 3,720 | - | 3,121 | |||||||||||||||||||||
Total | $ | 27,354 | 31,117 | - | 28,013 | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 6,620 | 8,039 | - | 6,013 | ||||||||||||||||||||
Other | 332 | 332 | - | 165 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 16,257 | 17,353 | - | 14,706 | |||||||||||||||||||||
Home equity loans | 561 | 614 | - | 636 | |||||||||||||||||||||
Home equity lines of credit | 2,528 | 2,825 | - | 2,051 | |||||||||||||||||||||
Total | $ | 26,298 | 29,163 | - | 23,571 | ||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 1,130 | 1,130 | - | 1,401 | ||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 1,630 | 1,922 | - | 1,611 | |||||||||||||||||||||
Home equity lines of credit | 282 | 380 | - | 100 | |||||||||||||||||||||
Total | $ | 3,042 | 3,432 | - | 3,112 | ||||||||||||||||||||
Total: | |||||||||||||||||||||||||
(dollars in thousands) | Unpaid | Average | |||||||||||||||||||||||
Recorded | Principal | Related | Recorded | ||||||||||||||||||||||
Investment | Balance | Allowance | Investment | ||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 7,750 | 9,169 | - | 7,414 | ||||||||||||||||||||
Other | 332 | 332 | - | 165 | |||||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 17,887 | 19,275 | - | 16,317 | |||||||||||||||||||||
Home equity loans | 561 | 614 | - | 636 | |||||||||||||||||||||
Home equity lines of credit | 2,810 | 3,205 | - | 2,151 | |||||||||||||||||||||
Total | $ | 29,340 | 32,595 | - | 26,683 | ||||||||||||||||||||
Modified loans by class that were determined to be TDR's | ' | ||||||||||||||||||||||||
The following table presents, by class, loans that were modified as TDR’s: | |||||||||||||||||||||||||
During the three months ended 6/30/2014 | During the three months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | 1 | $ | 300 | 300 | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 12 | 1,611 | 1,611 | 14 | 2,014 | 2,014 | |||||||||||||||||||
Home equity loans | 1 | 47 | 47 | 4 | 87 | 87 | |||||||||||||||||||
Home equity lines of credit | 2 | 443 | 443 | 2 | 87 | 87 | |||||||||||||||||||
Total | 16 | $ | 2,401 | 2,401 | 20 | $ | 2,188 | 2,188 | |||||||||||||||||
Florida: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 2 | 192 | 192 | 2 | 290 | 290 | |||||||||||||||||||
Home equity lines of credit | - | - | - | 1 | 31 | 31 | |||||||||||||||||||
Total | 2 | $ | 192 | 192 | 3 | $ | 321 | 321 | |||||||||||||||||
During six months ended 6/30/2014 | During the six months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | 1 | $ | 300 | 300 | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 20 | 2,985 | 2,985 | 26 | 3,480 | 3,480 | |||||||||||||||||||
Home equity loans | 2 | 51 | 51 | 7 | 148 | 148 | |||||||||||||||||||
Home equity lines of credit | 3 | 565 | 565 | 7 | 221 | 221 | |||||||||||||||||||
Total | 26 | $ | 3,901 | 3,901 | 40 | $ | 3,849 | 3,849 | |||||||||||||||||
Florida: | Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | |||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | - | $ | - | - | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4 | 364 | 364 | 5 | 677 | 677 | |||||||||||||||||||
Home equity lines of credit | 2 | 354 | 354 | 1 | 31 | 31 | |||||||||||||||||||
Total | 6 | $ | 718 | 718 | 6 | $ | 708 | 708 | |||||||||||||||||
Loans by class modified as TDR's for which there was a payment default | ' | ||||||||||||||||||||||||
The following table presents, by class, TDR’s that defaulted during the three and six months ended June 30, 2014 and 2013 which had been modified within the last twelve months: | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
Three months ended 6/30/2014 | Three months ended 6/30/2013 | ||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 2 | 161 | 3 | 302 | |||||||||||||||||||||
Home equity loans | - | - | 1 | 44 | |||||||||||||||||||||
Home equity lines of credit | - | - | 1 | 57 | |||||||||||||||||||||
Total | 2 | $ | 161 | 5 | $ | 403 | |||||||||||||||||||
Six months ended 6/30/2014 | Six months ended 6/30/2013 | ||||||||||||||||||||||||
New York and other states: | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | 4 | 308 | 21 | 2,634 | |||||||||||||||||||||
Home equity loans | - | - | 3 | 78 | |||||||||||||||||||||
Home equity lines of credit | - | - | 9 | 532 | |||||||||||||||||||||
Total | 4 | $ | 308 | 33 | $ | 3,244 | |||||||||||||||||||
Florida: | |||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||
(dollars in thousands) | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | - | $ | - | - | $ | - | |||||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||||||
First mortgages | - | - | 3 | 375 | |||||||||||||||||||||
Home equity lines of credit | 1 | 279 | - | - | |||||||||||||||||||||
Total | 1 | $ | 279 | 3 | $ | 375 | |||||||||||||||||||
Risk category of loans by class of loans | ' | ||||||||||||||||||||||||
As of June 30, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 159,539 | 8,276 | 167,815 | |||||||||||||||||||||
Other | 32,258 | 606 | 32,864 | ||||||||||||||||||||||
$ | 191,797 | 8,882 | 200,679 | ||||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 21,391 | 517 | 21,908 | |||||||||||||||||||||
Other | 68 | - | 68 | ||||||||||||||||||||||
$ | 21,459 | 517 | 21,976 | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
New York and other states: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 159,024 | 10,698 | 169,722 | |||||||||||||||||||||
Other | 31,691 | 632 | 32,323 | ||||||||||||||||||||||
$ | 190,715 | 11,330 | 202,045 | ||||||||||||||||||||||
Florida: | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Pass | Classified | Total | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||
Commercial real estate | $ | 20,274 | 1,130 | 21,404 | |||||||||||||||||||||
Other | 32 | - | 32 | ||||||||||||||||||||||
$ | 20,306 | 1,130 | 21,436 |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
June 30, 2014 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Securities available-for sale: | |||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 103,340 | - | 103,340 | - | ||||||||||||||||
State and political subdivisions | 3,921 | - | 3,921 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - residential | 589,517 | - | 589,517 | - | |||||||||||||||||
Corporate bonds | 1,402 | - | 1,402 | - | |||||||||||||||||
Small Business Administration-guaranteed participation securities | 102,367 | - | 102,367 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage | |||||||||||||||||||||
obligations - commercial | 10,544 | - | 10,544 | - | |||||||||||||||||
Other securities and equity securities | 679 | 35 | 644 | - | |||||||||||||||||
Total securities available-for-sale | $ | 811,770 | 35 | 811,735 | - | ||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Securities available-for sale: | |||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 198,829 | - | 198,829 | - | ||||||||||||||||
State and political subdivisions | 7,758 | - | 7,758 | - | |||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - residential | 532,449 | - | 532,449 | - | |||||||||||||||||
Corporate bonds | 10,471 | - | 10,471 | - | |||||||||||||||||
Small Business Administration-guaranteed participation securities | 103,029 | - | 103,029 | ||||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations - commercial | 10,558 | 10,558 | |||||||||||||||||||
Other securities and equity securities | 660 | 10 | 650 | - | |||||||||||||||||
Total securities available-for-sale | $ | 863,754 | 10 | 863,744 | - | ||||||||||||||||
Assets measured at fair value on a non-recurring basis | ' | ||||||||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
June 30, 2014 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Other real estate owned | $ | 8,295 | - | - | 8,295 | ||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial real estate | 780 | - | - | 780 | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||
First mortgages | 1,317 | - | - | 1,317 | |||||||||||||||||
Home Equity Loans | 13 | - | - | 13 | |||||||||||||||||
Home Equity Lines of Credit | 202 | - | - | 202 | |||||||||||||||||
Fair Value Measurements at | |||||||||||||||||||||
December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Value | Active Markets for | Other | Unobservable | ||||||||||||||||||
Identical Assets | Observable | Inputs | |||||||||||||||||||
(Level 1) | Inputs | (Level 3) | |||||||||||||||||||
(Level 2) | |||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
Other real estate owned | $ | 8,729 | - | - | 8,729 | ||||||||||||||||
Impaired Loans: | |||||||||||||||||||||
Commercial real estate | 1,802 | - | - | 1,802 | |||||||||||||||||
Real estate mortgage - 1 to 4 family: | |||||||||||||||||||||
First mortgages | 2,425 | - | - | 2,425 | |||||||||||||||||
Home Equity Loans | 48 | - | - | 48 | |||||||||||||||||
Home Equity Lines of Credit | 810 | - | - | 810 | |||||||||||||||||
Carrying amounts and estimated fair values of financial instruments | ' | ||||||||||||||||||||
In accordance with ASC 825, the carrying amounts and estimated fair values of financial instruments, at June 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
(dollars in thousands) | Fair Value Measurements at | ||||||||||||||||||||
Carrying | June 30, 2014 Using: | ||||||||||||||||||||
Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 621,548 | 621,548 | - | - | 621,548 | |||||||||||||||
Securities available for sale | 811,770 | 35 | 811,735 | - | 811,770 | ||||||||||||||||
Held to maturity securities | 77,926 | - | 82,895 | - | 82,895 | ||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank stock | 10,951 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Net loans | 2,959,215 | - | - | 3,002,229 | 3,002,229 | ||||||||||||||||
Accrued interest receivable | 11,350 | - | 3,233 | 8,117 | 11,350 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Demand deposits | 324,277 | 324,277 | - | - | 324,277 | ||||||||||||||||
Interest bearing deposits | 3,670,910 | 2,528,187 | 1,143,337 | - | 3,671,524 | ||||||||||||||||
Short-term borrowings | 181,516 | - | 181,516 | - | 181,516 | ||||||||||||||||
Accrued interest payable | 466 | 100 | 366 | - | 466 | ||||||||||||||||
(dollars in thousands) | Fair Value Measurements at | ||||||||||||||||||||
Carrying | December 31, 2013 Using: | ||||||||||||||||||||
Value | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 583,044 | 583,044 | - | - | 583,044 | |||||||||||||||
Securities available for sale | 863,754 | 10 | 863,744 | - | 863,754 | ||||||||||||||||
Held to maturity securities | 86,215 | - | 90,305 | - | 90,305 | ||||||||||||||||
Federal Reserve Bank and Federal Home Loan Bank stock | 10,500 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Net loans | 2,861,095 | - | - | 2,910,940 | 2,910,940 | ||||||||||||||||
Accrued interest receivable | 11,198 | - | 3,452 | 7,746 | 11,198 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Demand deposits | 318,456 | 318,456 | - | - | 318,456 | ||||||||||||||||
Interest bearing deposits | 3,608,615 | 2,477,567 | 1,132,025 | - | 3,609,592 | ||||||||||||||||
Short-term borrowings | 204,162 | - | 204,162 | - | 204,162 | ||||||||||||||||
Accrued interest payable | 468 | 101 | 367 | - | 468 |
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||
Accumulated other comprehensive income (loss), net of tax | ' | ||||||||||||||||||||
The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax: | |||||||||||||||||||||
For the three months ended 6/30/2014 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
3/31/14 | Comprehensive | reclassified | Comprehensive | 6/30/14 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Three months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2014 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | (13,655 | ) | 6,912 | - | 6,912 | (6,743 | ) | ||||||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | 4,203 | - | (71 | ) | (71 | ) | 4,132 | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | (9,452 | ) | 6,912 | (71 | ) | 6,841 | (2,611 | ) | |||||||||||||
For the three months ended 6/30/2013 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
3/31/13 | Comprehensive | reclassified | Comprehensive | 6/30/13 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Three months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2013 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | $ | 1,987 | (15,824 | ) | (859 | ) | (16,683 | ) | (14,696 | ) | |||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | (2,156 | ) | - | 21 | 21 | (2,135 | ) | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | $ | (169 | ) | (15,824 | ) | (838 | ) | (16,662 | ) | (16,831 | ) | ||||||||||
For the six months ended 6/30/2014 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
12/31/13 | Comprehensive | reclassified | Comprehensive | 6/30/14 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Six months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2014 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | (18,078 | ) | 11,339 | (4 | ) | 11,335 | (6,743 | ) | |||||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | 4,275 | - | (143 | ) | (143 | ) | 4,132 | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | (13,803 | ) | 11,339 | (147 | ) | 11,192 | (2,611 | ) | |||||||||||||
For the six months ended 6/30/2013 | |||||||||||||||||||||
Balance at | Other | Amount | Other | Balance at | |||||||||||||||||
12/31/12 | Comprehensive | reclassified | Comprehensive | 6/30/13 | |||||||||||||||||
Income (Loss)- | from Accumulated | Income (Loss)- | |||||||||||||||||||
Before | Other Comprehensive | Six months | |||||||||||||||||||
Reclassifications | Income | ended 6/30/2013 | |||||||||||||||||||
Net unrealized holding gain (loss) on securities available for sale, net of tax | $ | 3,755 | (17,591 | ) | (860 | ) | (18,451 | ) | (14,696 | ) | |||||||||||
Net change in net actuarial loss (gain) and prior service credit on pension and postretirement benefit plans, net of tax | (2,197 | ) | - | 62 | 62 | (2,135 | ) | ||||||||||||||
Accumulated other comprehensive income (loss), net of tax | $ | 1,558 | (17,591 | ) | (798 | ) | (18,389 | ) | (16,831 | ) | |||||||||||
Reclassifications out of accumulated other comprehensive income | ' | ||||||||||||||||||||
The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three months and six months ended June 30, 2014 and 2013: | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Unrealized gains (losses) on securities available for sale | |||||||||||||||||||||
Realized gain on securities transactions | - | 1,432 | 6 | 1,434 | |||||||||||||||||
Income tax expense | - | (573 | ) | (2 | ) | (574 | ) | ||||||||||||||
Net of tax | - | 859 | 4 | 860 | |||||||||||||||||
Amortization of pension and postretirement benefit items | |||||||||||||||||||||
Amortization of net actuarial gain (loss) | 74 | (101 | ) | 146 | (233 | ) | |||||||||||||||
Amortization of prior service credit | 45 | 65 | 90 | 131 | |||||||||||||||||
Income tax (expense) benefit | (48 | ) | 15 | (93 | ) | 40 | |||||||||||||||
Net of tax | 71 | (21 | ) | 143 | (62 | ) | |||||||||||||||
Total reclassifications, net of tax | 71 | 838 | 147 | 798 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reconciliation of component parts of earnings per share [Abstract] | ' | ' | ' | ' |
Net income | $11,808 | $9,763 | $22,819 | $18,931 |
Less: Net income allocated to participating securities | 13 | 11 | 26 | 21 |
Net income allocated to common shareholders | 11,795 | 9,752 | 22,793 | 18,910 |
Basic EPS [Abstract] | ' | ' | ' | ' |
Distributed earnings allocated to common stock | 6,213 | 6,182 | 12,419 | 12,356 |
Undistributed earnings allocated to common stock | 5,582 | 3,570 | 10,374 | 6,554 |
Net income allocated to common shareholders | 11,795 | 9,752 | 22,793 | 18,910 |
Weighted average common shares outstanding including participating securities (in shares) | 94,665,000 | 94,204,000 | 94,642,000 | 94,134,000 |
Less: Participating securities (in shares) | 106,000 | 106,000 | 106,000 | 106,000 |
Weighted average common shares (in shares) | 94,559,000 | 94,098,000 | 94,536,000 | 94,028,000 |
Basic EPS (in dollars per share) | $0.13 | $0.10 | $0.24 | $0.20 |
Diluted EPS [Abstract] | ' | ' | ' | ' |
Net income allocated to common shareholders | $11,795 | $9,752 | $22,793 | $18,910 |
Weighted average common shares for basic EPS (in shares) | 94,559,000 | 94,098,000 | 94,536,000 | 94,028,000 |
Effect of Dilutive Securities [Abstract] | ' | ' | ' | ' |
Stock Options (in shares) | 116,000 | 7,000 | 122,000 | 6,000 |
Weighted average common shares including potential dilutive shares (in shares) | 94,675,000 | 94,105,000 | 94,658,000 | 94,034,000 |
Diluted EPS (in dollars per share) | $0.13 | $0.10 | $0.24 | $0.20 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Weighted average number of antidilutive stock options excluded from diluted earnings per share (in shares) | 2,400,000 | 2,700,000 | 2,400,000 | 2,700,000 |
Benefit_Plans_Details
Benefit Plans (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Contribution made to pension and postretirement plans | ' | ' | $0 | ' |
Pension Benefits [Member] | ' | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Service cost | 18 | 20 | 36 | 34 |
Interest cost | 336 | 322 | 672 | 637 |
Expected return on plan assets | -609 | -597 | -1,218 | -1,095 |
Amortization of net (gain) loss | 0 | 111 | 0 | 258 |
Amortization of prior service credit | 0 | 0 | 0 | 0 |
Net periodic benefit | -255 | -144 | -510 | -166 |
Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Components of net periodic benefit cost [Abstract] | ' | ' | ' | ' |
Service cost | 15 | 14 | 29 | 26 |
Interest cost | 32 | 27 | 64 | 51 |
Expected return on plan assets | -169 | -126 | -338 | -249 |
Amortization of net (gain) loss | -74 | -10 | -146 | -25 |
Amortization of prior service credit | -45 | -65 | -90 | -131 |
Net periodic benefit | ($241) | ($160) | ($481) | ($328) |
Investment_Securities_Availabl
Investment Securities, Available-for-sale Securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | $822,959 | $893,821 |
Gross Unrealized Gains | 2,039 | 467 |
Gross Unrealized Losses | 13,228 | 30,534 |
Fair Value | 811,770 | 863,754 |
U. S. government sponsored enterprises [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 103,805 | 200,531 |
Gross Unrealized Gains | 56 | 22 |
Gross Unrealized Losses | 521 | 1,724 |
Fair Value | 103,340 | 198,829 |
State and political subdivisions [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 3,823 | 7,623 |
Gross Unrealized Gains | 98 | 135 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 3,921 | 7,758 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 594,869 | 552,230 |
Gross Unrealized Gains | 1,885 | 267 |
Gross Unrealized Losses | 7,237 | 20,048 |
Fair Value | 589,517 | 532,449 |
Corporate bonds [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 1,403 | 10,429 |
Gross Unrealized Gains | 0 | 43 |
Gross Unrealized Losses | 1 | 1 |
Fair Value | 1,402 | 10,471 |
Small Business Administration-guaranteed participation securities [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 107,542 | 111,383 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 5,175 | 8,354 |
Fair Value | 102,367 | 103,029 |
Mortgage-backed securities and collateralized mortgage obligations-Commercial [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 10,832 | 10,965 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 288 | 407 |
Fair Value | 10,544 | 10,558 |
Other [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 650 | 650 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 6 | 0 |
Fair Value | 644 | 650 |
Debt securities [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 822,924 | 893,811 |
Gross Unrealized Gains | 2,039 | 467 |
Gross Unrealized Losses | 13,228 | 30,534 |
Fair Value | 811,735 | 863,744 |
Equity securities [Member] | ' | ' |
Amortized cost and fair value of the securities available for sale [Abstract] | ' | ' |
Amortized Cost | 35 | 10 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $35 | $10 |
Investment_Securities_Availabl1
Investment Securities, Available-for-sale Securities, Maturities (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Amortized Cost [Abstract] | ' |
Due in one year or less | $2,195 |
Due in one year through five years | 360,427 |
Due after five years through ten years | 458,992 |
Due after ten years | 1,310 |
Amortized Cost | 822,924 |
Fair Value [Abstract] | ' |
Due in one year or less | 2,213 |
Due in one year through five years | 360,596 |
Due after five years through ten years | 447,603 |
Due after ten years | 1,323 |
Available for sale debt securities, fair value | $811,735 |
Investment_Securities_Availabl2
Investment Securities, Available-for-sale Securities, Gross Unrealized Loss Position (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | $72,793 | $778,568 |
12 months or more - Fair Value | 521,466 | 54,835 |
Total - Fair Value | 594,259 | 833,403 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 266 | 28,184 |
12 months or more - Gross Unrealized Loss | 12,962 | 2,350 |
Total - Gross Unrealized Loss | 13,228 | 30,534 |
U. S. government sponsored enterprises [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 22,503 | 198,023 |
12 months or more - Fair Value | 54,995 | 0 |
Total - Fair Value | 77,498 | 198,023 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 17 | 1,724 |
12 months or more - Gross Unrealized Loss | 504 | 0 |
Total - Gross Unrealized Loss | 521 | 1,724 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 49,195 | 466,056 |
12 months or more - Fair Value | 353,561 | 54,835 |
Total - Fair Value | 402,756 | 520,891 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 242 | 17,698 |
12 months or more - Gross Unrealized Loss | 6,995 | 2,350 |
Total - Gross Unrealized Loss | 7,237 | 20,048 |
Corporate bonds [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 501 | 902 |
12 months or more - Fair Value | 0 | 0 |
Total - Fair Value | 501 | 902 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 1 | 1 |
12 months or more - Gross Unrealized Loss | 0 | 0 |
Total - Gross Unrealized Loss | 1 | 1 |
Small Business Administration-guaranteed participation securities [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 0 | 103,029 |
12 months or more - Fair Value | 102,367 | 0 |
Total - Fair Value | 102,367 | 103,029 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 0 | 8,354 |
12 months or more - Gross Unrealized Loss | 5,175 | 0 |
Total - Gross Unrealized Loss | 5,175 | 8,354 |
Mortgage-backed securities and collateralized mortgage obligations-Commercial [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 0 | 10,558 |
12 months or more - Fair Value | 10,543 | 0 |
Total - Fair Value | 10,543 | 10,558 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 0 | 407 |
12 months or more - Gross Unrealized Loss | 288 | 0 |
Total - Gross Unrealized Loss | 288 | 407 |
Other [Member] | ' | ' |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 594 | ' |
12 months or more - Fair Value | 0 | ' |
Total - Fair Value | 594 | ' |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrealized Loss | 6 | ' |
12 months or more - Gross Unrealized Loss | 0 | ' |
Total - Gross Unrealized Loss | $6 | ' |
Investment_Securities_Availabl3
Investment Securities, Available-for-sale Securities, Transaction Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses [Abstract] | ' | ' | ' | ' |
Proceeds from sales | $0 | $118,560 | $0 | $118,560 |
Proceeds from calls | 39,301 | 96,417 | 180,623 | 205,414 |
Gross realized gains | 0 | 1,512 | 6 | 1,514 |
Gross realized losses | 0 | 80 | 0 | 80 |
Income tax expense recognized on net gains on sales and calls of securities available for sale | $0 | $573 | $2 | $574 |
Investment_Securities_Heldtoma
Investment Securities, Held-to-maturity Securities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ' | ' |
Amortized Cost | $77,926 | $86,215 |
Gross Unrecognized Gains | 4,969 | 4,228 |
Gross Unrecognized Losses | 0 | 138 |
Fair Value | 82,895 | 90,305 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' |
Amortized cost and fair value of the held to maturity securities [Abstract] | ' | ' |
Amortized Cost | 67,974 | 76,270 |
Gross Unrecognized Gains | 3,614 | 2,744 |
Gross Unrecognized Losses | 0 | 138 |
Fair Value | 71,588 | 78,876 |
Corporate bonds [Member] | ' | ' |
Amortized cost and fair value of the held to maturity securities [Abstract] | ' | ' |
Amortized Cost | 9,952 | 9,945 |
Gross Unrecognized Gains | 1,355 | 1,484 |
Gross Unrecognized Losses | 0 | 0 |
Fair Value | $11,307 | $11,429 |
Investment_Securities_Heldtoma1
Investment Securities, Held-to-maturity Securities, Maturity (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost [Abstract] | ' | ' |
Due in one year through five years | $76,333 | ' |
Due in five years through ten years | 1,593 | ' |
Amortized Cost | 77,926 | 86,215 |
Fair Value [Abstract] | ' | ' |
Due in one year through five years | 81,192 | ' |
Due in five years through ten years | 1,703 | ' |
Fair Value | 82,895 | 90,305 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' |
Fair Value [Abstract] | ' | ' |
Fair Value | 71,588 | 78,876 |
Corporate bonds [Member] | ' | ' |
Fair Value [Abstract] | ' | ' |
Fair Value | $11,307 | $11,429 |
Investment_Securities_Heldtoma2
Investment Securities, Held-to-maturity Securities, Loss Position (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Held to maturity unrecognized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | $0 | $27,091 |
12 months or more - Fair Value | 0 | 0 |
Total - Fair Value | 0 | 27,091 |
Held to maturity unrecognized loss position - Gross Unrec. Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrecognized Loss | 0 | 138 |
12 months or more - Gross Unrecognized Loss | 0 | 0 |
Total - Gross Unrecognized Loss | 0 | 138 |
Mortgage-backed securities and collateralized mortgage obligations-residential [Member] | ' | ' |
Held to maturity unrecognized loss position - Fair Value [Abstract] | ' | ' |
Less than 12 months - Fair Value | 0 | 27,091 |
12 months or more - Fair Value | 0 | 0 |
Total - Fair Value | 0 | 27,091 |
Held to maturity unrecognized loss position - Gross Unrec. Loss [Abstract] | ' | ' |
Less than 12 months - Gross Unrecognized Loss | 0 | 138 |
12 months or more - Gross Unrecognized Loss | 0 | 0 |
Total - Gross Unrecognized Loss | $0 | $138 |
Investment_Securities_OtherTha
Investment Securities, Other-Than-Temporary-Impairment (Details) | Jun. 30, 2014 |
Security | |
Investment security impairment - Other Than Temporary Impairment [Abstract] | ' |
Number of securities in portfolio | 202 |
Number of securities in portfolio in unrealized loss position | 79 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | $3,006,150 | $2,908,809 | ||
Less: Allowance for loan losses | 46,935 | 47,714 | ||
Net loans | 2,959,215 | 2,861,095 | ||
New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 2,517,744 | [1] | 2,468,322 | [1] |
Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 488,406 | 440,487 | ||
Commercial [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 200,679 | 202,045 | ||
Commercial [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 21,976 | 21,436 | ||
Commercial Real Estate [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 189,723 | 191,126 | ||
Commercial Real Estate [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 167,815 | 169,722 | ||
Commercial Real Estate [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 21,908 | 21,404 | ||
Other [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 32,932 | 32,355 | ||
Other [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 32,864 | 32,323 | ||
Other [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 68 | 32 | ||
First Mortgages [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 2,383,232 | 2,287,808 | ||
First Mortgages [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 1,960,668 | 1,909,447 | ||
First Mortgages [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 422,564 | 378,361 | ||
Home Equity Loans [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 54,268 | 51,136 | ||
Home Equity Loans [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 49,695 | 47,494 | ||
Home Equity Loans [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 4,573 | 3,642 | ||
Home Equity Lines of Credit [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 339,897 | 340,489 | ||
Home Equity Lines of Credit [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 301,236 | 304,044 | ||
Home Equity Lines of Credit [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 38,661 | 36,445 | ||
Installment [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 6,098 | 5,895 | ||
Installment [Member] | New York and Other States [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 5,466 | 5,292 | ||
Installment [Member] | Florida [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 632 | 603 | ||
Real Estate Construction Loans [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 34,300 | 35,400 | ||
Residential Borrowers [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | 15,400 | 13,900 | ||
Commercial Borrowers Residential Purpose [Member] | ' | ' | ||
Loans and Leases Receivable, Net Amount [Abstract] | ' | ' | ||
Total loans, net | $18,900 | $21,500 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses, Non-accrual Loans, By Loan Class (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | $40,748 | $43,227 | ||
Restructured real estate mortgages - 1 to 4 family | 159 | 166 | ||
Total nonperforming loans | 40,907 | 43,393 | ||
Commercial Real Estate [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 5,527 | 6,620 | ||
Other [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 122 | 332 | ||
First Mortgages [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 30,026 | 31,494 | ||
Home Equity Loans [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 517 | 691 | ||
Home Equity Lines of Credit [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 4,468 | 3,997 | ||
Installment [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 88 | 93 | ||
New York and Other States [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 36,652 | [1] | 38,090 | [1] |
Restructured real estate mortgages - 1 to 4 family | 159 | [1] | 166 | [1] |
Total nonperforming loans | 36,811 | [1] | 38,256 | [1] |
New York and Other States [Member] | Commercial Real Estate [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 5,010 | [1] | 6,620 | [1] |
New York and Other States [Member] | Other [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 122 | [1] | 332 | [1] |
New York and Other States [Member] | First Mortgages [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 26,886 | [1] | 26,713 | [1] |
New York and Other States [Member] | Home Equity Loans [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 517 | [1] | 691 | [1] |
New York and Other States [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 4,030 | [1] | 3,641 | [1] |
New York and Other States [Member] | Installment [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 87 | [1] | 93 | [1] |
Florida [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 4,096 | 5,137 | ||
Restructured real estate mortgages - 1 to 4 family | 0 | 0 | ||
Total nonperforming loans | 4,096 | 5,137 | ||
Florida [Member] | Commercial Real Estate [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 517 | 0 | ||
Florida [Member] | Other [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 0 | 0 | ||
Florida [Member] | First Mortgages [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 3,140 | 4,781 | ||
Florida [Member] | Home Equity Loans [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 0 | 0 | ||
Florida [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | 438 | 356 | ||
Florida [Member] | Installment [Member] | ' | ' | ||
Non accrual loans by loan class [Abstract] | ' | ' | ||
Total non-accrual loans | $1 | $0 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses, Past Due (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | $5,094 | $7,262 | ||
60-89 Days Past Due | 2,048 | 3,831 | ||
90+ Days Past Due | 29,055 | 28,128 | ||
Total 30+ days Past Due | 36,197 | 39,221 | ||
Current | 2,969,953 | 2,869,588 | ||
Total loans | 3,006,150 | 2,908,809 | ||
Loans that are 90 days past due and still accruing interest | 0 | 0 | ||
Number of days past due | '90 days | '90 days | ||
Commercial Real Estate [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 54 | 583 | ||
60-89 Days Past Due | 0 | 1,426 | ||
90+ Days Past Due | 3,493 | 3,379 | ||
Total 30+ days Past Due | 3,547 | 5,388 | ||
Current | 186,176 | 185,738 | ||
Total loans | 189,723 | 191,126 | ||
Other [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 0 | 209 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 122 | 123 | ||
Total 30+ days Past Due | 122 | 332 | ||
Current | 32,810 | 32,023 | ||
Total loans | 32,932 | 32,355 | ||
First Mortgages [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 4,241 | 5,216 | ||
60-89 Days Past Due | 1,620 | 2,042 | ||
90+ Days Past Due | 22,522 | 21,853 | ||
Total 30+ days Past Due | 28,383 | 29,111 | ||
Current | 2,354,849 | 2,258,697 | ||
Total loans | 2,383,232 | 2,287,808 | ||
Home Equity Loans [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 57 | 46 | ||
60-89 Days Past Due | 56 | 18 | ||
90+ Days Past Due | 452 | 552 | ||
Total 30+ days Past Due | 565 | 616 | ||
Current | 53,703 | 50,520 | ||
Total loans | 54,268 | 51,136 | ||
Home Equity Lines of Credit [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 653 | 1,123 | ||
60-89 Days Past Due | 334 | 331 | ||
90+ Days Past Due | 2,392 | 2,144 | ||
Total 30+ days Past Due | 3,379 | 3,598 | ||
Current | 336,518 | 336,891 | ||
Total loans | 339,897 | 340,489 | ||
Installment [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 89 | 85 | ||
60-89 Days Past Due | 38 | 14 | ||
90+ Days Past Due | 74 | 77 | ||
Total 30+ days Past Due | 201 | 176 | ||
Current | 5,897 | 5,719 | ||
Total loans | 6,098 | 5,895 | ||
New York and Other States [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 4,320 | 6,601 | ||
60-89 Days Past Due | 2,048 | 3,829 | ||
90+ Days Past Due | 26,523 | 23,652 | ||
Total 30+ days Past Due | 32,891 | 34,082 | ||
Current | 2,484,853 | 2,434,240 | ||
Total loans | 2,517,744 | [1] | 2,468,322 | [1] |
New York and Other States [Member] | Commercial [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
Total loans | 200,679 | 202,045 | ||
New York and Other States [Member] | Commercial Real Estate [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 54 | 583 | ||
60-89 Days Past Due | 0 | 1,426 | ||
90+ Days Past Due | 3,493 | 3,379 | ||
Total 30+ days Past Due | 3,547 | 5,388 | ||
Current | 164,268 | 164,334 | ||
Total loans | 167,815 | 169,722 | ||
New York and Other States [Member] | Other [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 0 | 209 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 122 | 123 | ||
Total 30+ days Past Due | 122 | 332 | ||
Current | 32,742 | 31,991 | ||
Total loans | 32,864 | 32,323 | ||
New York and Other States [Member] | First Mortgages [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 3,515 | 4,664 | ||
60-89 Days Past Due | 1,620 | 2,042 | ||
90+ Days Past Due | 20,018 | 17,624 | ||
Total 30+ days Past Due | 25,153 | 24,330 | ||
Current | 1,935,515 | 1,885,117 | ||
Total loans | 1,960,668 | 1,909,447 | ||
New York and Other States [Member] | Home Equity Loans [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 57 | 46 | ||
60-89 Days Past Due | 56 | 18 | ||
90+ Days Past Due | 452 | 552 | ||
Total 30+ days Past Due | 565 | 616 | ||
Current | 49,130 | 46,878 | ||
Total loans | 49,695 | 47,494 | ||
New York and Other States [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 619 | 1,014 | ||
60-89 Days Past Due | 334 | 331 | ||
90+ Days Past Due | 2,364 | 1,897 | ||
Total 30+ days Past Due | 3,317 | 3,242 | ||
Current | 297,919 | 300,802 | ||
Total loans | 301,236 | 304,044 | ||
New York and Other States [Member] | Installment [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 75 | 85 | ||
60-89 Days Past Due | 38 | 12 | ||
90+ Days Past Due | 74 | 77 | ||
Total 30+ days Past Due | 187 | 174 | ||
Current | 5,279 | 5,118 | ||
Total loans | 5,466 | 5,292 | ||
Florida [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 774 | 661 | ||
60-89 Days Past Due | 0 | 2 | ||
90+ Days Past Due | 2,532 | 4,476 | ||
Total 30+ days Past Due | 3,306 | 5,139 | ||
Current | 485,100 | 435,348 | ||
Total loans | 488,406 | 440,487 | ||
Florida [Member] | Commercial [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
Total loans | 21,976 | 21,436 | ||
Florida [Member] | Commercial Real Estate [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 0 | 0 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 0 | 0 | ||
Total 30+ days Past Due | 0 | 0 | ||
Current | 21,908 | 21,404 | ||
Total loans | 21,908 | 21,404 | ||
Florida [Member] | Other [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 0 | 0 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 0 | 0 | ||
Total 30+ days Past Due | 0 | 0 | ||
Current | 68 | 32 | ||
Total loans | 68 | 32 | ||
Florida [Member] | First Mortgages [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 726 | 552 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 2,504 | 4,229 | ||
Total 30+ days Past Due | 3,230 | 4,781 | ||
Current | 419,334 | 373,580 | ||
Total loans | 422,564 | 378,361 | ||
Florida [Member] | Home Equity Loans [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 0 | 0 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 0 | 0 | ||
Total 30+ days Past Due | 0 | 0 | ||
Current | 4,573 | 3,642 | ||
Total loans | 4,573 | 3,642 | ||
Florida [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 34 | 109 | ||
60-89 Days Past Due | 0 | 0 | ||
90+ Days Past Due | 28 | 247 | ||
Total 30+ days Past Due | 62 | 356 | ||
Current | 38,599 | 36,089 | ||
Total loans | 38,661 | 36,445 | ||
Florida [Member] | Installment [Member] | ' | ' | ||
Aging of the recorded investment in past due loans [Abstract] | ' | ' | ||
30-59 Days Past Due | 14 | 0 | ||
60-89 Days Past Due | 0 | 2 | ||
90+ Days Past Due | 0 | 0 | ||
Total 30+ days Past Due | 14 | 2 | ||
Current | 618 | 601 | ||
Total loans | $632 | $603 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses, Allowance for Loan Losses (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ' | ' | ' | ' | ||
Balance at beginning of period | $47,035 | $47,658 | $47,714 | $47,927 | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 1,821 | 2,235 | 4,138 | 4,646 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 221 | 166 | 359 | 308 | ||
Net loans charged off | 1,600 | 2,069 | 3,779 | 4,338 | ||
Provision (credit) for loan losses | 1,500 | 2,000 | 3,000 | 4,000 | ||
Balance at end of period | 46,935 | 47,589 | 46,935 | 47,589 | ||
Commercial [Member] | ' | ' | ' | ' | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ' | ' | ' | ' | ||
Balance at beginning of period | 3,840 | 3,964 | 4,019 | 3,771 | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 13 | 49 | 886 | 399 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 2 | 1 | 21 | 4 | ||
Net loans charged off | 11 | 48 | 865 | 395 | ||
Provision (credit) for loan losses | 244 | -197 | 919 | 343 | ||
Balance at end of period | 4,073 | 3,719 | 4,073 | 3,719 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | ' | ' | ' | ' | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ' | ' | ' | ' | ||
Balance at beginning of period | 43,091 | 43,595 | 43,597 | 44,069 | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 1,766 | 2,170 | 3,159 | 4,212 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 211 | 162 | 325 | 297 | ||
Net loans charged off | 1,555 | 2,008 | 2,834 | 3,915 | ||
Provision (credit) for loan losses | 1,216 | 2,179 | 1,989 | 3,612 | ||
Balance at end of period | 42,752 | 43,766 | 42,752 | 43,766 | ||
Installment [Member] | ' | ' | ' | ' | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ' | ' | ' | ' | ||
Balance at beginning of period | 104 | 99 | 98 | 87 | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 42 | 16 | 93 | 35 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 8 | 3 | 13 | 7 | ||
Net loans charged off | 34 | 13 | 80 | 28 | ||
Provision (credit) for loan losses | 40 | 18 | 92 | 45 | ||
Balance at end of period | 110 | 104 | 110 | 104 | ||
New York and Other States [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 1,736 | [1] | 2,073 | [1] | 2,971 | 3,979 |
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 203 | [1] | 126 | [1] | 301 | 206 |
New York and Other States [Member] | Commercial [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 13 | [1] | 49 | [1] | 273 | 299 |
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 0 | [1] | 0 | [1] | 18 | 2 |
New York and Other States [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 1,691 | [1] | 2,008 | [1] | 2,617 | 3,645 |
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 195 | [1] | 123 | [1] | 270 | 197 |
New York and Other States [Member] | Installment [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 32 | [1] | 16 | [1] | 81 | 35 |
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 8 | [1] | 3 | [1] | 13 | 7 |
Florida [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 85 | 162 | 1,167 | 667 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 18 | 40 | 58 | 102 | ||
Florida [Member] | Commercial [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 0 | 0 | 613 | 100 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 2 | 1 | 3 | 2 | ||
Florida [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 75 | 162 | 542 | 567 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | 16 | 39 | 55 | 100 | ||
Florida [Member] | Installment [Member] | ' | ' | ' | ' | ||
Loans charged off [Abstract] | ' | ' | ' | ' | ||
Total loan charge offs | 10 | 0 | 12 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ' | ' | ' | ' | ||
Total recoveries | $0 | $0 | $0 | $0 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses, Based on Impairment Review Method (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||||||
Allowance for loan losses [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | $0 | ' | $0 | ' | ' | ' | ||
Collectively evaluated for impairment | 46,935 | ' | 47,714 | ' | ' | ' | ||
Total ending allowance balance | 46,935 | 47,035 | 47,714 | 47,589 | 47,658 | 47,927 | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 27,354 | ' | 29,340 | ' | ' | ' | ||
Collectively evaluated for impairment | 2,978,796 | ' | 2,879,469 | ' | ' | ' | ||
Total loans | 3,006,150 | ' | 2,908,809 | ' | ' | ' | ||
Commercial [Member] | ' | ' | ' | ' | ' | ' | ||
Allowance for loan losses [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 0 | ' | 0 | ' | ' | ' | ||
Collectively evaluated for impairment | 4,073 | ' | 4,019 | ' | ' | ' | ||
Total ending allowance balance | 4,073 | 3,840 | 4,019 | 3,719 | 3,964 | 3,771 | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 5,949 | ' | 8,082 | ' | ' | ' | ||
Collectively evaluated for impairment | 216,706 | ' | 215,399 | ' | ' | ' | ||
Total loans | 222,655 | ' | 223,481 | ' | ' | ' | ||
1 to 4 Family Residential Real Estate [Member] | ' | ' | ' | ' | ' | ' | ||
Allowance for loan losses [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 0 | ' | 0 | ' | ' | ' | ||
Collectively evaluated for impairment | 42,752 | ' | 43,597 | ' | ' | ' | ||
Total ending allowance balance | 42,752 | 43,091 | 43,597 | 43,766 | 43,595 | 44,069 | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 21,405 | ' | 21,258 | ' | ' | ' | ||
Collectively evaluated for impairment | 2,755,992 | ' | 2,658,175 | ' | ' | ' | ||
Total loans | 2,777,397 | ' | 2,679,433 | ' | ' | ' | ||
Installment [Member] | ' | ' | ' | ' | ' | ' | ||
Allowance for loan losses [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 0 | ' | 0 | ' | ' | ' | ||
Collectively evaluated for impairment | 110 | ' | 98 | ' | ' | ' | ||
Total ending allowance balance | 110 | 104 | 98 | 104 | 99 | 87 | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Individually evaluated for impairment | 0 | ' | 0 | ' | ' | ' | ||
Collectively evaluated for impairment | 6,098 | ' | 5,895 | ' | ' | ' | ||
Total loans | 6,098 | ' | 5,895 | ' | ' | ' | ||
New York and Other States [Member] | ' | ' | ' | ' | ' | ' | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Total loans | 2,517,744 | [1] | ' | 2,468,322 | [1] | ' | ' | ' |
Florida [Member] | ' | ' | ' | ' | ' | ' | ||
Loans [Abstract] | ' | ' | ' | ' | ' | ' | ||
Total loans | $488,406 | ' | $440,487 | ' | ' | ' | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses, Impaired Receivables (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | $27,354 | $29,340 | ||
Unpaid Principal Balance | 31,117 | 32,595 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 28,013 | 26,683 | ||
Commercial Real Estate [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 5,827 | 7,750 | ||
Unpaid Principal Balance | 7,922 | 9,169 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 5,873 | 7,414 | ||
Other [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 122 | 332 | ||
Unpaid Principal Balance | 122 | 332 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 122 | 165 | ||
First Mortgages [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 17,693 | 17,887 | ||
Unpaid Principal Balance | 18,871 | 19,275 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 18,405 | 16,317 | ||
Home Equity Loans [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 438 | 561 | ||
Unpaid Principal Balance | 482 | 614 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 492 | 636 | ||
Home Equity Lines of Credit [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 3,274 | 2,810 | ||
Unpaid Principal Balance | 3,720 | 3,205 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 3,121 | 2,151 | ||
New York and Other States [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 25,001 | [1] | 26,298 | [1] |
Unpaid Principal Balance | 27,895 | [1] | 29,163 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 25,221 | [1] | 23,571 | [1] |
New York and Other States [Member] | Commercial Real Estate [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 5,310 | [1] | 6,620 | [1] |
Unpaid Principal Balance | 6,792 | [1] | 8,039 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 5,152 | [1] | 6,013 | [1] |
New York and Other States [Member] | Other [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 122 | [1] | 332 | [1] |
Unpaid Principal Balance | 122 | [1] | 332 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 122 | [1] | 165 | [1] |
New York and Other States [Member] | First Mortgages [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 16,469 | [1] | 16,257 | [1] |
Unpaid Principal Balance | 17,463 | [1] | 17,353 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 16,872 | [1] | 14,706 | [1] |
New York and Other States [Member] | Home Equity Loans [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 438 | [1] | 561 | [1] |
Unpaid Principal Balance | 482 | [1] | 614 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 492 | [1] | 636 | [1] |
New York and Other States [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 2,662 | [1] | 2,528 | [1] |
Unpaid Principal Balance | 3,036 | [1] | 2,825 | [1] |
Related Allowance | 0 | [1] | 0 | [1] |
Average Recorded Investment | 2,583 | [1] | 2,051 | [1] |
Florida [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 2,353 | 3,042 | ||
Unpaid Principal Balance | 3,222 | 3,432 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 2,792 | 3,112 | ||
Florida [Member] | Commercial Real Estate [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 517 | 1,130 | ||
Unpaid Principal Balance | 1,130 | 1,130 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 721 | 1,401 | ||
Florida [Member] | Other [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | ||
Florida [Member] | First Mortgages [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 1,224 | 1,630 | ||
Unpaid Principal Balance | 1,408 | 1,922 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 1,533 | 1,611 | ||
Florida [Member] | Home Equity Loans [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 0 | ' | ||
Unpaid Principal Balance | 0 | ' | ||
Related Allowance | 0 | ' | ||
Average Recorded Investment | 0 | ' | ||
Florida [Member] | Home Equity Lines of Credit [Member] | ' | ' | ||
Impaired loans by loans class [Abstract] | ' | ' | ||
Recorded Investment | 612 | 282 | ||
Unpaid Principal Balance | 684 | 380 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | $538 | $100 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||||||||||
New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | New York and Other States [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | Florida [Member] | |||||||||||||
Contract | Contract | Contract | Contract | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | First Mortgages [Member] | First Mortgages [Member] | First Mortgages [Member] | First Mortgages [Member] | Home Equity Loans [Member] | Home Equity Loans [Member] | Home Equity Loans [Member] | Home Equity Loans [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | Contract | Contract | Contract | Contract | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | First Mortgages [Member] | First Mortgages [Member] | First Mortgages [Member] | First Mortgages [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | Home Equity Lines of Credit [Member] | |||||||||||||
Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | |||||||||||||||||||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
TDR's classifications from previously performing loans | $8,700,000 | $8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Modified loans by class determined to be TDR's [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Number of Contracts | ' | ' | 16 | 20 | 26 | 40 | 1 | 0 | 1 | 0 | 12 | 14 | 20 | 26 | 1 | 4 | 2 | 7 | 2 | 2 | 3 | 7 | 2 | 3 | 6 | 6 | 0 | 0 | 0 | 0 | 2 | 2 | 4 | 5 | 0 | 1 | 2 | 1 | ||||||||||
Pre-Modification Outstanding Recorded Investment | ' | ' | 2,401,000 | 2,188,000 | 3,901,000 | 3,849,000 | 300,000 | 0 | 300,000 | 0 | 1,611,000 | 2,014,000 | 2,985,000 | 3,480,000 | 47,000 | 87,000 | 51,000 | 148,000 | 443,000 | 87,000 | 565,000 | 221,000 | 192,000 | 321,000 | 718,000 | 708,000 | 0 | 0 | 0 | 0 | 192,000 | 290,000 | 364,000 | 677,000 | 0 | 31,000 | 354,000 | 31,000 | ||||||||||
Post-Modification Outstanding Recorded Investment | ' | ' | 2,401,000 | 2,188,000 | 3,901,000 | 3,849,000 | 300,000 | 0 | 300,000 | 0 | 1,611,000 | 2,014,000 | 2,985,000 | 3,480,000 | 47,000 | 87,000 | 51,000 | 148,000 | 443,000 | 87,000 | 565,000 | 221,000 | 192,000 | 321,000 | 718,000 | 708,000 | 0 | 0 | 0 | 0 | 192,000 | 290,000 | 364,000 | 677,000 | 0 | 31,000 | 354,000 | 31,000 | ||||||||||
Loans modified for which there was payment default [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Number of Contracts | ' | ' | 2 | 5 | 4 | [1] | 33 | [1] | 0 | 0 | 0 | [1] | 0 | [1] | 2 | 3 | 4 | [1] | 21 | [1] | 0 | 1 | 0 | [1] | 3 | [1] | 0 | 1 | 0 | [1] | 9 | [1] | 0 | 0 | 1 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 1 | 0 |
Recorded Investment | ' | ' | $161,000 | $403,000 | $308,000 | [1] | $3,244,000 | [1] | $0 | $0 | $0 | [1] | $0 | [1] | $161,000 | $302,000 | $308,000 | [1] | $2,634,000 | [1] | $0 | $44,000 | $0 | [1] | $78,000 | [1] | $0 | $57,000 | $0 | [1] | $532,000 | [1] | $0 | $0 | $279,000 | $375,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $375,000 | $0 | $0 | $279,000 | $0 |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses, Modified Loans Payment Status (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Loans and Allowance for Loan Losses [Abstract] | ' |
Deferral period of chapter 13 bankruptcies | '60 months |
Number of days past due when loans are considered to be in payment default | '90 days |
Contractual past due period for chapter 13 bankruptcy loans to be in payment default | '30 days |
Non-homogeneous loans over | $150 |
Internal grading of non-homogeneous loans over | $250 |
Recovered_Sheet1
Loans and Allowance for Loan Losses, Risk Category of Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | $3,006,150,000 | $2,908,809,000 | ||
Impaired loans included in classified loans | 5,600,000 | 8,100,000 | ||
Commercial Real Estate [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 189,723,000 | 191,126,000 | ||
Other [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 32,932,000 | 32,355,000 | ||
New York and Other States [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 2,517,744,000 | [1] | 2,468,322,000 | [1] |
New York and Other States [Member] | Commercial [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 200,679,000 | 202,045,000 | ||
New York and Other States [Member] | Commercial [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 191,797,000 | 190,715,000 | ||
New York and Other States [Member] | Commercial [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 8,882,000 | 11,330,000 | ||
New York and Other States [Member] | Commercial Real Estate [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 167,815,000 | 169,722,000 | ||
New York and Other States [Member] | Commercial Real Estate [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 159,539,000 | 159,024,000 | ||
New York and Other States [Member] | Commercial Real Estate [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 8,276,000 | 10,698,000 | ||
New York and Other States [Member] | Other [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 32,864,000 | 32,323,000 | ||
New York and Other States [Member] | Other [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 32,258,000 | 31,691,000 | ||
New York and Other States [Member] | Other [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 606,000 | 632,000 | ||
Florida [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 488,406,000 | 440,487,000 | ||
Florida [Member] | Commercial [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 21,976,000 | 21,436,000 | ||
Florida [Member] | Commercial [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 21,459,000 | 20,306,000 | ||
Florida [Member] | Commercial [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 517,000 | 1,130,000 | ||
Florida [Member] | Commercial Real Estate [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 21,908,000 | 21,404,000 | ||
Florida [Member] | Commercial Real Estate [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 21,391,000 | 20,274,000 | ||
Florida [Member] | Commercial Real Estate [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 517,000 | 1,130,000 | ||
Florida [Member] | Other [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 68,000 | 32,000 | ||
Florida [Member] | Other [Member] | Pass [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | 68,000 | 32,000 | ||
Florida [Member] | Other [Member] | Classified [Member] | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Total loans, net | $0 | $0 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments, Part 1 (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Securities available-for sale [Abstract] | ' | ' |
Total securities available for sale | $811,770 | $863,754 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
Total securities available for sale | 35 | 10 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
Total securities available for sale | 811,735 | 863,744 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
Total securities available for sale | 0 | 0 |
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
U.S. government-sponsored enterprises | 0 | 0 |
State and political subdivisions | 0 | 0 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 0 | 0 |
Corporate bonds | 0 | 0 |
Small Business Administration-guaranteed participation securities | 0 | 0 |
Mortgage-backed securities and collateralized mortgage obligations - commercial | 0 | 0 |
Other securities and equity securities | 35 | 10 |
Total securities available for sale | 35 | 10 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
U.S. government-sponsored enterprises | 103,340 | 198,829 |
State and political subdivisions | 3,921 | 7,758 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 589,517 | 532,449 |
Corporate bonds | 1,402 | 10,471 |
Small Business Administration-guaranteed participation securities | 102,367 | 103,029 |
Mortgage-backed securities and collateralized mortgage obligations - commercial | 10,544 | 10,558 |
Other securities and equity securities | 644 | 650 |
Total securities available for sale | 811,735 | 863,744 |
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
U.S. government-sponsored enterprises | 0 | 0 |
State and political subdivisions | 0 | 0 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 0 | 0 |
Corporate bonds | 0 | 0 |
Small Business Administration-guaranteed participation securities | 0 | 0 |
Mortgage-backed securities and collateralized mortgage obligations - commercial | 0 | 0 |
Other securities and equity securities | 0 | 0 |
Total securities available for sale | 0 | 0 |
Recurring [Member] | Carrying Value [Member] | ' | ' |
Securities available-for sale [Abstract] | ' | ' |
U.S. government-sponsored enterprises | 103,340 | 198,829 |
State and political subdivisions | 3,921 | 7,758 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 589,517 | 532,449 |
Corporate bonds | 1,402 | 10,471 |
Small Business Administration-guaranteed participation securities | 102,367 | 103,029 |
Mortgage-backed securities and collateralized mortgage obligations - commercial | 10,544 | 10,558 |
Other securities and equity securities | 679 | 660 |
Total securities available for sale | $811,770 | $863,754 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments, Part 2 (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Other Real Estate Owned (ORE) [Abstract] | ' | ' | ' |
Other real estate owned, commercial real estate | $5,200,000 | $5,200,000 | $5,000,000 |
Other real estate owned, residential real estate properties | 3,100,000 | 3,100,000 | 3,700,000 |
Valuation charge on other real estate owned | 363,000 | 998,000 | 2,200,000 |
Impaired loans [Abstract] | ' | ' | ' |
Impaired loans | 27,354,000 | 27,354,000 | 29,340,000 |
Collateral dependent impaired loans | 2,300,000 | 2,300,000 | 5,100,000 |
Gross charge offs, commercial impaired loans | 13,000 | 676,000 | 761,000 |
Gross charge offs, residential impaired loans | 78,000 | 109,000 | 534,000 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Other Real Estate Owned (ORE) [Abstract] | ' | ' | ' |
Other real estate owned | 0 | 0 | 0 |
Impaired loans [Abstract] | ' | ' | ' |
Commercial real estate | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: first mortgages | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: Home Equity Loans | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: Home Equity Lines of Credit | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Other Real Estate Owned (ORE) [Abstract] | ' | ' | ' |
Other real estate owned | 0 | 0 | 0 |
Impaired loans [Abstract] | ' | ' | ' |
Commercial real estate | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: first mortgages | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: Home Equity Loans | 0 | 0 | 0 |
Real estate mortgage 1 to 4 family: Home Equity Lines of Credit | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Other Real Estate Owned (ORE) [Abstract] | ' | ' | ' |
Other real estate owned | 8,295,000 | 8,295,000 | 8,729,000 |
Impaired loans [Abstract] | ' | ' | ' |
Commercial real estate | 780,000 | 780,000 | 1,802,000 |
Real estate mortgage 1 to 4 family: first mortgages | 1,317,000 | 1,317,000 | 2,425,000 |
Real estate mortgage 1 to 4 family: Home Equity Loans | 13,000 | 13,000 | 48,000 |
Real estate mortgage 1 to 4 family: Home Equity Lines of Credit | 202,000 | 202,000 | 810,000 |
Nonrecurring [Member] | Carrying Value [Member] | ' | ' | ' |
Other Real Estate Owned (ORE) [Abstract] | ' | ' | ' |
Other real estate owned | 8,295,000 | 8,295,000 | 8,729,000 |
Impaired loans [Abstract] | ' | ' | ' |
Commercial real estate | 780,000 | 780,000 | 1,802,000 |
Real estate mortgage 1 to 4 family: first mortgages | 1,317,000 | 1,317,000 | 2,425,000 |
Real estate mortgage 1 to 4 family: Home Equity Loans | 13,000 | 13,000 | 48,000 |
Real estate mortgage 1 to 4 family: Home Equity Lines of Credit | 202,000 | 202,000 | 810,000 |
Commercial real estate [Member] | ' | ' | ' |
Impaired loans [Abstract] | ' | ' | ' |
Impaired loans | 5,827,000 | 5,827,000 | 7,750,000 |
First Mortgages [Member] | ' | ' | ' |
Impaired loans [Abstract] | ' | ' | ' |
Impaired loans | 17,693,000 | 17,693,000 | 17,887,000 |
Home Equity Loans [Member] | ' | ' | ' |
Impaired loans [Abstract] | ' | ' | ' |
Impaired loans | $438,000 | $438,000 | $561,000 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments, Part 3 (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial assets [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | $621,548 | $583,044 | $628,832 | $544,016 |
Securities available for sale | 811,770 | 863,754 | ' | ' |
Held-to-maturity securities | 77,926 | 86,215 | ' | ' |
Held to maturity securities | 82,895 | 90,305 | ' | ' |
Net loans | 2,959,215 | 2,861,095 | ' | ' |
Net loans | 3,002,229 | 2,910,940 | ' | ' |
Accrued interest receivable | 11,350 | 11,198 | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' | ' |
Demand deposits | 324,277 | 318,456 | ' | ' |
Interest bearing deposits | 3,671,524 | 3,609,592 | ' | ' |
Short-term borrowings | 181,516 | 204,162 | ' | ' |
Accrued interest payable | 466 | 468 | ' | ' |
Level 1 [Member] | ' | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | 621,548 | 583,044 | ' | ' |
Securities available for sale | 35 | 10 | ' | ' |
Held to maturity securities | 0 | 0 | ' | ' |
Net loans | 0 | 0 | ' | ' |
Accrued interest receivable | 0 | 0 | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' | ' |
Demand deposits | 324,277 | 318,456 | ' | ' |
Interest bearing deposits | 2,528,187 | 2,477,567 | ' | ' |
Short-term borrowings | 0 | 0 | ' | ' |
Accrued interest payable | 100 | 101 | ' | ' |
Level 2 [Member] | ' | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Securities available for sale | 811,735 | 863,744 | ' | ' |
Held to maturity securities | 82,895 | 90,305 | ' | ' |
Net loans | 0 | 0 | ' | ' |
Accrued interest receivable | 3,233 | 3,452 | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' | ' |
Demand deposits | 0 | 0 | ' | ' |
Interest bearing deposits | 1,143,337 | 1,132,025 | ' | ' |
Short-term borrowings | 181,516 | 204,162 | ' | ' |
Accrued interest payable | 366 | 367 | ' | ' |
Level 3 [Member] | ' | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Securities available for sale | 0 | 0 | ' | ' |
Held to maturity securities | 0 | 0 | ' | ' |
Net loans | 3,002,229 | 2,910,940 | ' | ' |
Accrued interest receivable | 8,117 | 7,746 | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' | ' |
Demand deposits | 0 | 0 | ' | ' |
Interest bearing deposits | 0 | 0 | ' | ' |
Short-term borrowings | 0 | 0 | ' | ' |
Accrued interest payable | 0 | 0 | ' | ' |
Carrying Value [Member] | ' | ' | ' | ' |
Financial assets [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | 621,548 | 583,044 | ' | ' |
Securities available for sale | 811,770 | 863,754 | ' | ' |
Held-to-maturity securities | 77,926 | 86,215 | ' | ' |
Federal Reserve Bank and Federal Home Loan Bank stock | 10,951 | 10,500 | ' | ' |
Net loans | 2,959,215 | 2,861,095 | ' | ' |
Accrued interest receivable | 11,350 | 11,198 | ' | ' |
Financial liabilities [Abstract] | ' | ' | ' | ' |
Demand deposits | 324,277 | 318,456 | ' | ' |
Interest bearing deposits | 3,670,910 | 3,608,615 | ' | ' |
Short-term borrowings | 181,516 | 204,162 | ' | ' |
Accrued interest payable | $466 | $468 | ' | ' |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | ($9,452) | ($169) | ($13,803) | $1,558 |
Other comprehensive income (loss)- before reclassifications | 6,912 | -15,824 | 11,339 | -17,591 |
Amount reclassified from accumulated other comprehensive income | -71 | -838 | -147 | -798 |
Other comprehensive income (loss), net of tax | 6,841 | -16,662 | 11,192 | -18,389 |
Accumulated other comprehensive income (loss), net of tax, end of period | -2,611 | -16,831 | -2,611 | -16,831 |
Unrealized Gain (Losses) on Securities Available For Sale [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | -13,655 | 1,987 | -18,078 | 3,755 |
Other comprehensive income (loss)- before reclassifications | 6,912 | -15,824 | 11,339 | -17,591 |
Amount reclassified from accumulated other comprehensive income | 0 | -859 | -4 | -860 |
Other comprehensive income (loss), net of tax | 6,912 | -16,683 | 11,335 | -18,451 |
Accumulated other comprehensive income (loss), net of tax, end of period | -6,743 | -14,696 | -6,743 | -14,696 |
Net Change in Net Actuarial Loss and Prior Service Credit on Pension and Postretirement Benefit Plans, Net of Tax [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Accumulated other comprehensive income (loss), net of tax, beginning of period | 4,203 | -2,156 | 4,275 | -2,197 |
Other comprehensive income (loss)- before reclassifications | 0 | 0 | 0 | 0 |
Amount reclassified from accumulated other comprehensive income | -71 | 21 | -143 | 62 |
Other comprehensive income (loss), net of tax | -71 | 21 | -143 | 62 |
Accumulated other comprehensive income (loss), net of tax, end of period | $4,132 | ($2,135) | $4,132 | ($2,135) |
Other_Comprehensive_Income_Rec
Other Comprehensive Income, Reclassifications out of accumulated other comprehensive income (loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net gain on securities transactions | $0 | $1,432 | $6 | $1,434 |
Salaries and employee benefits | 8,012 | 7,647 | 15,604 | 15,825 |
Income taxes | 7,240 | 5,824 | 14,343 | 11,296 |
Net income | 11,808 | 9,763 | 22,819 | 18,931 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net income | 71 | 838 | 147 | 798 |
Unrealized Gain (Losses) on Securities Available For Sale [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net gain on securities transactions | 0 | 1,432 | 6 | 1,434 |
Income taxes | 0 | -573 | -2 | -574 |
Net income | 0 | 859 | 4 | 860 |
Amortization of Pension and Postretirement Benefit Items [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Income taxes | -48 | 15 | -93 | 40 |
Net income | 71 | -21 | 143 | -62 |
Amortization of Net Actuarial Loss [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Salaries and employee benefits | 74 | -101 | 146 | -233 |
Amortization Of Prior Service Credit [Member] | Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Salaries and employee benefits | $45 | $65 | $90 | $131 |