Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 31, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Transition Report | false | |
Entity File Number | 000-10592 | |
Entity Registrant Name | TRUSTCO BANK CORP NY | |
Entity Central Index Key | 0000357301 | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 14-1630287 | |
Entity Address, Address Line One | 5 SARNOWSKI DRIVE | |
Entity Address, City or Town | GLENVILLE | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 12302 | |
City Area Code | 518 | |
Local Phone Number | 377-3311 | |
Title of 12(b) Security | Common Stock, $1.00 par value | |
Trading Symbol | TRST | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,024,433 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 46,062 | $ 39,604 | $ 90,334 | $ 78,607 |
Interest and dividends on securities available for sale: | ||||
U. S. government sponsored enterprises | 691 | 147 | 1,383 | 233 |
State and political subdivisions | 1 | 0 | 1 | 1 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 1,543 | 1,367 | 3,128 | 2,454 |
Corporate bonds | 516 | 522 | 1,037 | 755 |
Small Business Administration-guaranteed participation securities | 111 | 140 | 228 | 294 |
Other securities | 3 | 2 | 5 | 4 |
Total interest and dividends on securities available for sale | 2,865 | 2,178 | 5,782 | 3,741 |
Interest on held to maturity securities: | ||||
Mortgage-backed securities and collateralized mortgage obligations-residential | 75 | 87 | 153 | 177 |
Total interest on held to maturity securities | 75 | 87 | 153 | 177 |
Federal Reserve Bank and Federal Home Loan Bank stock | 110 | 65 | 220 | 127 |
Interest on federal funds sold and other short-term investments | 6,970 | 2,253 | 13,525 | 2,825 |
Total interest income | 56,082 | 44,187 | 110,014 | 85,477 |
Interest on deposits: | ||||
Interest-bearing checking | 49 | 42 | 115 | 86 |
Savings accounts | 655 | 163 | 1,185 | 319 |
Money market deposit accounts | 1,756 | 210 | 2,570 | 424 |
Time deposits | 9,291 | 536 | 14,563 | 1,082 |
Interest on short-term borrowings | 279 | 176 | 564 | 410 |
Total interest expense | 12,030 | 1,127 | 18,997 | 2,321 |
Net interest income | 44,052 | 43,060 | 91,017 | 83,156 |
Credit provision for credit losses | (500) | (491) | (200) | (691) |
Net interest income after credit provision for credit losses | 44,552 | 43,551 | 91,217 | 83,847 |
Noninterest income: | ||||
Trustco financial services income | 1,412 | 1,996 | 3,186 | 3,829 |
Fees for services to customers | 2,847 | 2,658 | 5,495 | 5,459 |
Other | 339 | 262 | 586 | 811 |
Total noninterest income | 4,598 | 4,916 | 9,267 | 10,099 |
Noninterest expenses: | ||||
Salaries and employee benefits | 13,122 | 11,464 | 26,405 | 20,703 |
Net occupancy expense | 4,262 | 4,254 | 8,860 | 8,783 |
Equipment expense | 1,873 | 1,667 | 3,835 | 3,255 |
Professional services | 1,360 | 1,484 | 2,967 | 2,951 |
Outsourced services | 2,491 | 2,500 | 4,787 | 4,780 |
Advertising expense | 518 | 389 | 908 | 1,006 |
FDIC and other insurance | 1,085 | 804 | 2,137 | 1,616 |
Other real estate expense, net | 148 | 74 | 373 | 85 |
Other | 2,468 | 2,369 | 4,734 | 4,591 |
Total noninterest expenses | 27,327 | 25,005 | 55,006 | 47,770 |
Income before taxes | 21,823 | 23,462 | 45,478 | 46,176 |
Income taxes | 5,451 | 5,591 | 11,360 | 11,216 |
Net income | $ 16,372 | $ 17,871 | $ 34,118 | $ 34,960 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.86 | $ 0.93 | $ 1.79 | $ 1.82 |
Diluted (in dollars per share) | $ 0.86 | $ 0.93 | $ 1.79 | $ 1.82 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||||
Net income | $ 16,372 | $ 17,871 | $ 34,118 | $ 34,960 |
Net unrealized holding (loss) gain on securities available for sale | (3,718) | (9,211) | 1,533 | (28,436) |
Tax effect | 963 | 2,382 | (387) | 7,356 |
Net unrealized (loss) gain on securities available for sale, net of tax | (2,755) | (6,829) | 1,146 | (21,080) |
Amortization of net actuarial gain | (114) | (426) | (228) | (504) |
Amortization of prior service cost (credit) | 3 | 123 | 6 | (157) |
Tax effect | 29 | 79 | 58 | 172 |
Amortization of net actuarial gain and prior service cost (credit) on pension and postretirement plans, net of tax | (82) | (224) | (164) | (489) |
Other comprehensive (loss) gain, net of tax | (2,837) | (7,053) | 982 | (21,569) |
Comprehensive income | $ 13,535 | $ 10,818 | $ 35,100 | $ 13,391 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
ASSETS: | ||
Cash and due from banks | $ 55,662 | $ 43,429 |
Federal funds sold and other short term investments | 547,695 | 607,170 |
Total cash and cash equivalents | 603,357 | 650,599 |
Securities available for sale | 452,704 | 481,513 |
Held to maturity securities ($6,926 and $7,580 fair value at June 30, 2023 and December 31, 2022, respectively) | 7,043 | 7,707 |
Federal Reserve Bank and Federal Home Loan Bank stock | 6,203 | 5,797 |
Loans, net of deferred net costs | 4,886,811 | 4,733,201 |
Less: Allowance for credit losses on loans | 46,914 | 46,032 |
Net loans | 4,839,897 | 4,687,169 |
Bank premises and equipment, net | 32,351 | 32,556 |
Operating lease right-of-use assets | 43,113 | 44,727 |
Other assets | 90,957 | 89,984 |
Total assets | 6,075,625 | 6,000,052 |
Deposits: | ||
Demand | 791,353 | 838,147 |
Interest-bearing checking | 1,082,989 | 1,183,321 |
Savings accounts | 1,315,893 | 1,521,473 |
Money market deposit accounts | 625,253 | 621,106 |
Time deposits | 1,442,959 | 1,028,763 |
Total deposits | 5,258,447 | 5,192,810 |
Short-term borrowings | 113,765 | 122,700 |
Operating lease liabilities | 47,172 | 48,980 |
Accrued expenses and other liabilities | 34,852 | 35,575 |
Total liabilities | 5,454,236 | 5,400,065 |
SHAREHOLDERS' EQUITY: | ||
Capital stock par value $1.00; 30,000,000 shares authorized; 20,058,142 shares issued at June 30, 2023 and December 31, 2022, and 19,024,433 shares outstanding at June 30, 2023 and December 31, 2022 | 20,058 | 20,058 |
Surplus | 257,078 | 257,078 |
Undivided profits | 414,251 | 393,831 |
Accumulated other comprehensive loss, net of tax | (26,212) | (27,194) |
Treasury stock at cost - 1,033,709 shares at June 30, 2023 and December 31, 2022, respectively | (43,786) | (43,786) |
Total shareholders' equity | 621,389 | 599,987 |
Total liabilities and shareholders' equity | $ 6,075,625 | $ 6,000,052 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
ASSETS: | ||
Held to maturity securities, fair value | $ 6,926 | $ 7,580 |
SHAREHOLDERS' EQUITY: | ||
Capital stock, par value (in dollars per share) | $ 1 | $ 1 |
Capital stock, shares authorized (in shares) | 30,000,000 | 30,000,000 |
Capital stock, shares issued (in shares) | 20,058,142 | 20,058,142 |
Capital stock, shares outstanding (in shares) | 19,024,433 | 19,024,433 |
Treasury stock, at cost (in shares) | 1,033,709 | 1,033,709 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Capital Stock [Member] | Surplus [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] Undivided Profits [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Capital Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Surplus [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Undivided Profits [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Accumulated Other Comprehensive Loss [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |
Balance at Dec. 31, 2021 | $ 20,046 | $ 256,661 | $ 349,056 | $ 12,147 | $ (36,782) | $ 601,128 | $ (3,470) | $ (3,470) | $ 20,046 | $ 256,661 | $ 345,586 | $ 12,147 | $ (36,782) | $ 597,658 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Accounting Standards Update [Extensible Enumeration] | ASU 2016-13 [Member] | ASU 2016-13 [Member] | ||||||||||||
Net income | 0 | 0 | 17,089 | 0 | 0 | 17,089 | ||||||||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | (14,516) | 0 | (14,516) | ||||||||
Cash dividend declared | 0 | 0 | (6,727) | 0 | 0 | (6,727) | ||||||||
Purchase of treasury stock | 0 | 0 | 0 | 0 | (609) | (609) | ||||||||
Balance at Mar. 31, 2022 | 20,046 | 256,661 | 355,948 | (2,369) | (37,391) | 592,895 | ||||||||
Balance at Dec. 31, 2021 | 20,046 | 256,661 | 349,056 | 12,147 | (36,782) | 601,128 | $ (3,470) | $ (3,470) | $ 20,046 | $ 256,661 | $ 345,586 | $ 12,147 | $ (36,782) | $ 597,658 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net income | 34,960 | |||||||||||||
Other comprehensive (loss) income, net of tax | (21,569) | |||||||||||||
Balance at Jun. 30, 2022 | 20,046 | 256,661 | 367,100 | (9,422) | (39,753) | 594,632 | ||||||||
Balance at Mar. 31, 2022 | 20,046 | 256,661 | 355,948 | (2,369) | (37,391) | 592,895 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net income | 0 | 0 | 17,871 | 0 | 0 | 17,871 | ||||||||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | (7,053) | 0 | (7,053) | ||||||||
Cash dividend declared | 0 | 0 | (6,719) | 0 | 0 | (6,719) | ||||||||
Purchase of treasury stock | 0 | 0 | 0 | 0 | (2,362) | (2,362) | ||||||||
Balance at Jun. 30, 2022 | 20,046 | 256,661 | 367,100 | (9,422) | (39,753) | 594,632 | ||||||||
Balance at Dec. 31, 2022 | 20,058 | 257,078 | 393,831 | (27,194) | (43,786) | 599,987 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net income | 0 | 0 | 17,746 | 0 | 0 | 17,746 | ||||||||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | 3,819 | 0 | 3,819 | ||||||||
Cash dividend declared | 0 | 0 | (6,849) | 0 | 0 | (6,849) | ||||||||
Balance at Mar. 31, 2023 | 20,058 | 257,078 | 404,728 | (23,375) | (43,786) | 614,703 | ||||||||
Balance at Dec. 31, 2022 | 20,058 | 257,078 | 393,831 | (27,194) | (43,786) | 599,987 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net income | 34,118 | |||||||||||||
Other comprehensive (loss) income, net of tax | 982 | |||||||||||||
Balance at Jun. 30, 2023 | 20,058 | 257,078 | 414,251 | (26,212) | (43,786) | 621,389 | ||||||||
Balance at Mar. 31, 2023 | 20,058 | 257,078 | 404,728 | (23,375) | (43,786) | 614,703 | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||
Net income | 0 | 0 | 16,372 | 0 | 0 | 16,372 | ||||||||
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | (2,837) | 0 | (2,837) | ||||||||
Cash dividend declared | 0 | 0 | (6,849) | 0 | 0 | (6,849) | ||||||||
Balance at Jun. 30, 2023 | $ 20,058 | $ 257,078 | $ 414,251 | $ (26,212) | $ (43,786) | $ 621,389 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | ||||
Cash dividend declared (in dollars per share) | $ 0.36 | $ 0.36 | $ 0.35 | $ 0.35 |
Purchase of treasury stock (in shares) | 75,000 | 18,114 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 34,118 | $ 34,960 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 2,021 | 2,057 |
Amortization of right-of-use asset | 3,267 | 3,231 |
Net gain on sale of other real estate owned | (175) | (73) |
Writedown of other real estate owned | 107 | 0 |
(Credit) provision for credit losses | (200) | (691) |
Deferred tax expense (benefit) | 1,965 | 1,281 |
Net amortization of securities | 900 | 1,289 |
Net gain on sale of bank premises and equipment | 0 | (314) |
Decrease in taxes receivable | 1,394 | 3,077 |
Increase in interest receivable | (270) | (1,627) |
Increase (decrease) in interest payable | 1,444 | (21) |
Increase in other assets | (3,884) | (3,378) |
Decrease in operating lease liabilities | (3,461) | (3,427) |
Decrease in accrued expenses and other liabilities | (2,779) | (3,371) |
Total adjustments | 329 | (1,967) |
Net cash provided by operating activities | 34,447 | 32,993 |
Cash flows from investing activities: | ||
Proceeds from sales, paydowns and calls of securities available for sale | 29,469 | 43,338 |
Proceeds from paydowns of held to maturity securities | 637 | 1,335 |
Purchases of securities available for sale | (5,000) | (172,771) |
Proceeds from maturities of securities available for sale | 5,000 | 10,050 |
Purchases of Federal Home Loan Bank stock | (406) | (193) |
Net increase in loans | (153,328) | (101,990) |
Proceeds from dispositions of other real estate owned | 718 | 166 |
Proceeds from dispositions of bank premises and equipment | 0 | 469 |
Purchases of bank premises and equipment | (1,816) | (1,566) |
Net cash used in investing activities | (124,726) | (221,162) |
Cash flows from financing activities: | ||
Net increase in deposits | 65,637 | 128,712 |
Net increase in short-term borrowings | (8,935) | (97,404) |
Purchases of treasury stock | 0 | (2,971) |
Dividends paid | (13,665) | (13,454) |
Net cash provided by financing activities | 43,037 | 14,883 |
Net decrease in cash and cash equivalents | (47,242) | (173,286) |
Cash and cash equivalents at beginning of period | 650,599 | 1,219,470 |
Cash and cash equivalents at end of period | 603,357 | 1,046,184 |
Cash paid during the year for: | ||
Interest paid | 10,586 | 2,342 |
Income taxes paid | 9,981 | 8,303 |
Other non cash items: | ||
Transfer of loans to other real estate owned | 0 | 375 |
Increase (Decrease) in dividends payable | 33 | (8) |
Change in unrealized gain (loss) on securities available for sale-gross of deferred taxes | 1,533 | (28,436) |
Change in deferred tax effect on unrealized (gain) loss on securities available for sale | (387) | 7,356 |
Amortization of net actuarial gain and prior service cost (credit) on pension and postretirement plans | (222) | (661) |
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans | 58 | 172 |
Security purchase settled in subsequent period | 0 | (5,000) |
Impact to retained earnings from adoption of ASC 326, net of tax | $ 0 | $ (3,470) |
Financial Statement Presentatio
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2023 | |
Financial Statement Presentation [Abstract] | |
Financial Statement Presentation | (1) Financial Statement Presentation The unaudited Consolidated Interim Financial Statements of TrustCo Bank Corp NY (the “Company” or “TrustCo”) include the accounts of the Company’s subsidiary, Trustco Bank (also referred to as the “Bank”) and other 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 and six months ended June 30, 2023 is not necessarily indicative of the results that may be expected for the year ending December 31, 2023, 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, 2023, the results of operations for the three and six months ended June 30, 2023 and 2022, and the cash flows for the six months ended June 30, 2023 and 2022. The accompanying unaudited Consolidated Interim Financial Statements should be read in conjunction with the Company’s year-end audited Consolidated Financial Statements, including notes thereto, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The accompanying unaudited Consolidated Interim Financial Statements have been prepared in accordance with applicable rules of the Securities and Exchange Commission (the “SEC”) 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. Results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The accounting policies of the Company, as applied in the Consolidated Interim Financial Statements presented herein, are substantially the same as those followed on an annual basis in the Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 1, 2023. Risks and Uncertainties: |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2023 | |
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 A reconciliation of the component parts of earnings per share for the three and six months ended June 30, 2023 and 2022 is as follows: (in thousands, except per share data) For the three months ended For the six months ended June 30 June 30 2023 2022 2023 2022 Net income $ 16,372 $ 17,871 $ 34,118 $ 34,960 Weighted average common shares 19,024 19,153 19,024 19,185 Stock Options - - 1 - Weighted average common shares including potential dilutive shares 19,024 19,153 19,025 19,185 Basic EPS $ 0.86 $ 0.93 $ 1.79 $ 1.82 Diluted EPS $ 0.86 $ 0.93 $ 1.79 $ 1.82 For the three and six months ended June 30, 2023 there were 77 thousand shares and approximately 52 thousand shares, respectively, of weighted average antidilutive stock options excluded from dilutive earnings. For the three and six months ended June 30, 2022 there were approximately 89 thousand shares and 60 thousand shares, respectively, of weighted average antidilutive stock options excluded from dilutive earnings . |
Benefit Plans
Benefit Plans | 6 Months Ended |
Jun. 30, 2023 | |
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 and six months ended June 30, 2023 and 2022 for its pension and other postretirement benefit plans Three months ended June 30 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2023 2022 2023 2022 Service cost $ - $ - $ 3 $ (9 ) Interest cost 304 221 66 51 Expected return on plan assets (661 ) (796 ) (290 ) (333 ) Amortization of net gain - - (114 ) (426 ) Amortization of prior service cost - - 3 123 Net periodic benefit $ (357 ) $ (575 ) $ (332 ) $ (594 ) Six months ended June 30 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2023 2022 2023 2022 Service cost $ - $ - $ 5 $ 9 Interest cost 606 444 132 103 Expected return on plan assets (1,341 ) (1,613 ) (579 ) (666 ) Amortization of net gain - - (228 ) (504 ) Amortization of prior service cost (credit) - - 6 (157 ) Net periodic benefit $ (735 ) $ (1,169 ) $ (664 ) $ (1,215 ) The Company does not expect to contribute to its pension and postretirement benefit plans in 2023. As of June 30, 2023 Since 2003, the Company has not subsidized retiree medical insurance premiums. However, it continues to provide medical benefits and 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, 2023 | |
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: June 30 2023 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 119,175 - 5,605 113,570 State and political subdivisions 34 - - 34 Mortgage backed securities and collateralized mortgage obligations - residential 273,955 13 30,524 243,444 Corporate bonds 80,394 - 3,776 76,618 Small Business Administration - guaranteed participation securities 20,444 - 2,062 18,382 Other 686 - 30 656 Total Securities Available for Sale $ 494,688 13 41,997 452,704 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 124,123 1 5,937 118,187 State and political subdivisions 34 - - 34 Mortgage backed securities and collateralized mortgage obligations - residential 291,431 34 31,149 260,316 Corporate bonds 85,641 - 4,295 81,346 Small Business Administration - guaranteed participation securities 23,115 - 2,138 20,977 Other 686 - 33 653 Total Securities Available for Sale $ 525,030 35 43,552 481,513 The following table categorizes the debt securities included in the available for sale portfolio as of June 30, 2023 based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately: Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 55,284 53,461 Due after one year through five years 145,005 137,417 Mortgage backed securities and collateralized mortgage obligations - residential 273,955 243,444 Small Business Administration - guaranteed participation securities 20,444 18,382 $ 494,688 452,704 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: June 30 2023 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ 52,728 $ 1,459 $ 60,841 $ 4,146 $ 113,569 $ 5,605 Mortgage backed securities and collateralized mortgage obligations - residential 40,282 2,477 200,666 28,047 240,948 30,524 Corporate bonds 9,721 293 66,897 3,483 76,618 3,776 Small Business Administration - guaranteed participation securities - - 18,382 2,062 18,382 2,062 Other - - 619 30 619 30 Total $ 102,731 $ 4,229 $ 347,405 $ 37,768 $ 450,136 $ 41,997 December 31, 2022 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ 57,849 1,290 55,337 4,647 113,186 5,937 Mortgage backed securities and collateralized mortgage obligations - residential 164,772 13,010 93,009 18,139 257,781 31,149 Corporate bonds 52,805 2,395 28,542 1,900 81,347 4,295 Small Business Administration - guaranteed participation securities 802 71 20,175 2,067 20,977 2,138 Other 49 1 568 32 617 33 Total $ 276,277 $ 16,767 $ 197,631 $ 26,785 $ 473,908 $ 43,552 There were no allowance for credit losses recorded for securities available for sale during the three and six months ended June 30, 2023. The proceeds from sales and calls and maturities of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended June 30, (dollars in thousands) 2023 2022 Proceeds from sales $ - - Proceeds from calls/paydowns 14,811 25,415 Proceeds from maturities 5,000 5,050 Gross realized gains - - Gross realized losses - - Six months ended June 30, (dollars in thousands) 2023 2022 Proceeds from sales $ - - Proceeds from calls/paydowns 29,469 43,338 Proceeds from maturities 5,000 10,050 Gross realized gains - - Gross realized losses - - There were no transfers of securities available for sale during the three and six months ended June 30, 2023 and 2022. (b) Held to maturity securities The amortized cost and fair value of the held to maturity securities are as follows: June 30 2023 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,043 57 174 6,926 Total held to maturity $ 7,043 57 174 6,926 December 31, 2022 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,707 90 217 7,580 Total held to maturity $ 7,707 90 217 7,580 The following table categorizes the debt securities included in the (dollars in thousands) Amortized Fair Cost Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,043 6,926 $ 7,043 6,926 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 unrealized loss position, were as follows: June 30, 2023 Less than 12 months (dollars in thousands) 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 $ 349 8 2,900 166 3,249 174 Total $ 349 8 2,900 166 3,249 174 December 31, 2022 Less than 12 months (dollars in thousands) 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 $ 3,327 206 258 11 3,585 217 Total $ 3,327 206 258 11 3,585 217 There were no sales or transfers of held to maturity securities during the three and six months ended June 30, 2023 and 2022. There were no allowance for credit losses recorded for held to maturity securities during the three and six months ended June 30, 2023. There were no securities on non-accrual status and all securities were performing in accordance with contractual terms. (c) Other-Than-Temporary Impairment Debt Securities 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. In determining OTTI for debt securities, 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 any other ‑ ‑ 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 through the provision for credit losses. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The Company does not intend to sell nor does it anticipate that it will be required to sell any of its securities in an unrealized loss position as of June 30, 2023. The Company’s ability and intent to hold these securities until recovery is supported by the Company’s strong capital and liquidity positions as well as its historically low turnover in the portfolio. As of June 30, 2023, the Company’s security portfolio included certain securities which were in an unrealized loss position, and are discussed below. U.S. government sponsored enterprises: Mortgage backed securities and collateralized mortgage obligations – residential: Small Business Administration (SBA) - guaranteed participation securities: Corporate Bonds & Other: |
Loan Portfolio and Allowance fo
Loan Portfolio and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2023 | |
Loan Portfolio and Allowance for Credit Losses [Abstract] | |
Loan Portfolio and Allowance for Credit Losses | (5) Loan Portfolio and Allowance for Credit Losses The following table presents loans by portfolio segment: June 30, 2023 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 190,361 $ 39,187 $ 229,548 Other 21,566 320 $ 21,886 Real estate mortgage - 1 to 4 family: First mortgages 2,755,040 1,497,104 $ 4,252,144 Home equity loans 44,841 13,020 $ 57,861 Home equity lines of credit 198,067 110,909 $ 308,976 Installment 12,035 4,361 $ 16,396 Total loans, net $ 3,221,910 $ 1,664,901 4,886,811 Less: Allowance for credit losses 46,914 Net loans $ 4,839,897 * Includes New York, New Jersey, Vermont and Massachussetts. December 31, 2022 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 177,371 $ 32,551 $ 209,922 Other 20,221 868 21,089 Real estate mortgage - 1 to 4 family: First mortgages 2,776,989 1,369,913 4,146,902 Home equity loans 43,999 12,550 56,549 Home equity lines of credit 191,926 94,506 286,432 Installment 9,408 2,899 12,307 Total loans, net $ 3,219,914 $ 1,513,287 4,733,201 Less: Allowance for credit losses 46,032 Net loans $ 4,687,169 * Includes New York, New Jersey, Vermont and Massachussetts. Included in commercial loans above are Paycheck Protection Program (“PPP”) loans totaling $ thousand and $ Million as of and , respectively. At and , the Company had approximately million in real estate construction loans at , approximately Allowance for credit losses on loans The level of the ACLL is based on factors that influence management’s current estimate of expected credit losses including past events, current conditions. Consistent with adoption date, the Company has determined the stagflation forecast scenario to be appropriate for the June 30, 2023 ACLL calculation. The Company selected the stagflation economic forecast for credit losses as management expects that markets will experience a slight decline in economic conditions and a slight increase in the unemployment rate over the next two years. T he Company recorded a benefit for credit losses of $500 thousand for the three months ended June 30, 2023, which is the result of a benefit for credit losses on unfunded commitments of $500 thousand. There was no provision for credit losses on loans during the three months ended June 30, 2023. The Company recorded a benefit for credit losses of $200 thousand for the six months ended June 30, 2023, which is the result of a benefit for credit losses on unfunded commitments of $800 thousand, and a provision for credit losses on loans of $600 thousand. The Company recorded a benefit for credit losses of $491 thousand for the three months ended June 30, 2022, which includes a credit to provision for credit losses on loans of $1.0 million, offset by a provision for credit losses on unfunded commitments of $509 thousand. The Company recorded a benefit for credit losses of $691 thousand for the six months ended June 30, 2022, which includes a credit to provision for credit losses on loans of $1.5 million, offset by a provision for credit losses on unfunded commitments of $809 thousand. Activity in the allowance for credit losses on loans by portfolio segment for the three months ended June 30, 2023 and 2022 is summarized as follows: For the three months ended June 30 ( dollars in s) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,708 $ 43,766 $ 211 $ 46,685 Loans charged off: New York and other states* - 22 29 51 Florida - - 40 40 Total loan chargeoffs - 22 69 91 Recoveries of loans previously charged off: New York and other states* 129 183 8 320 Florida - - - - Total recoveries 129 183 8 320 Net loans (recoveries) charged off (129 ) (161 ) 61 (229 ) (Credit) provision for credit losses (227 ) 140 87 - Balance at end of period $ 2,610 $ 44,067 $ 237 $ 46,914 * Includes New York, New Jersey, Vermont and Massachusetts. For the three months ended June 30 2022 ( dollars in s) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,177 43,931 70 46,178 Loans charged off: New York and other states* 4 12 14 30 Florida - - - - Total loan chargeoffs 4 12 14 30 Recoveries of loans previously charged off: New York and other states* 4 131 2 137 Florida - - - - Total recoveries 4 131 2 137 Net loan recoveries - (119 ) 12 (107 ) (Credit) provision for credit losses 97 (1,170 ) 73 (1,000 ) Balance at end of period $ 2,274 42,880 131 45,285 * Includes New York, New Jersey, Vermont and Massachusetts. Activity in the allowance for credit losses on loans by portfolio segment for the six months ended June 30, 2023 and 2022 is summarized as follows: For the six June 30 2023 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,596 $ 43,271 $ 165 $ 46,032 Loans charged off: New York and other states* - 22 46 68 Florida - - 71 71 Total loan chargeoffs - 22 117 139 Recoveries of loans previously charged off: New York and other states* 129 236 31 396 Florida - 25 - 25 Total recoveries 129 261 31 421 Net loans (recoveries) charged off (129 ) (239 ) 86 (282 ) (Credit) provision for credit losses (115 ) 557 158 600 Balance at end of period $ 2,610 $ 44,067 $ 237 $ 46,914 * Includes New York, New Jersey, Vermont and Massachusetts. For the six June 30 2022 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 3,135 40,689 443 44,267 Impact of ASU 2016-13, Current Expected Credit Loss (CECL) $ (986 ) 3,717 (378 ) 2,353 Balance as of January 1, 2022 as adjuste dfor ASU 2016-13 $ 2,149 44,406 65 46,620 Loans charged off: New York and other states* 40 12 25 77 Florida - - - - Total loan chargeoffs 40 12 25 77 Recoveries of loans previously charged off: New York and other states* 4 228 10 242 Florida - - - - Total recoveries 4 228 10 242 Net loan recoveries 36 (216 ) 15 (165 ) (Credit) provision for loan losses 161 (1,742 ) 81 (1,500 ) Balance at end of period $ 2,274 42,880 131 45,285 * Includes New York, New Jersey, Vermont and Massachusetts. The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of June 30, 2023 and December 31, 2022: As of June 30 2023 ( dollars in s) 1-to-4 Family Commercial Residential Installment Loans Real Estate Loans Total Allowance for credit losses on loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - Collectively evaluated for impairment 2,610 44,067 237 46,914 Total ending allowance balance $ 2,610 $ 44,067 $ 237 $ 46,914 Loans: Individually evaluated for impairment $ 970 $ 25,546 $ 112 $ 26,628 Collectively evaluated for impairment 250,464 4,593,435 16,284 4,860,183 Total ending loans balance $ 251,434 $ 4,618,981 $ 16,396 $ 4,886,811 December 31, 2022 ( dollars in s) 1-to-4 Family Commercial Residential Installment Loans Real Estate Loans Total Allowance for credit losses on loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 2,596 43,271 165 46,032 Total ending allowance balance $ 2,596 43,271 165 46,032 Loans: Individually evaluated for impairment $ 646 24,967 82 25,695 Collectively evaluated for impairment 230,365 4,464,916 12,225 4,707,506 Total ending loans balance $ 231,011 4,489,883 12,307 4,733,201 The Company’s allowance for credit losses on unfunded commitments is recognized as a liability (accrued expenses and other liabilities) with adjustments to the reserve recognized in (credit) provision for credit losses in the consolidated income statement. The Company’s activity in the allowance for credit losses on unfunded commitments for the three and six months ended June 30, 2023 and 2022 were as follows: (In thousands) For the three months ended June 30, 2023 Balance at March 31, 2023 $ 2,612 Credit provision for credit losses (500 ) Balance at June 30, 2023 $ 2,112 (In thousands) For the six months ended June 30, 2023 Balance at January 1, 2023 $ 2,912 Credit provision for credit losses (800 ) Balance at June 30, 2023 $ 2,112 (In thousands) For the three months ended June 30, 2022 Balance at March 31, 2022 $ 2,653 Provision for credit losses 509 Balance at June 30, 2022 $ 3,162 (In thousands) For the six months ended June 30, 2022 Balance at January 1, 2022 $ 18 Impact of Adopting CECL 2,335 Adjusted Balance at January 1, 2022 $ 2,353 Provision for credit losses 809 Balance at June 30, 2022 $ 3,162 Loan Credit Quality The Company categorizes commercial 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, such as commercial loans and commercial real estate loans, individually by grading the loans based on credit risk. The loan grades assigned to all loan types are tested by the Company’s internal loan review department in accordance with the Company’s internal loan review policy. The Company uses the following definitions for classified loans: Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be “pass” rated loans. 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 credit losses on loans. The payment status of these homogeneous pools as of June 30, 2023 and December 31, 2022 is also included in the aging of the past due loans table. Nonperforming loans shown in the table below were loans on nonaccrual status and loans over 90 days past due and accruing. As of June 30, 2023, and December 31, 2022 and based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs year to date for each loan type by origination year was as follows: (in thousands) As of June 30, 2023 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Commercial : Risk rating Pass $ 30,169 $ 82,912 $ 25,662 $ 17,642 $ 20,990 $ 43,174 $ 7,171 $ - $ 227,720 Special Mention - - - 53 - 234 - - 287 Substandard - - - 110 - 1,431 - - 1,541 Total Commercial Loans $ 30,169 $ 82,912 $ 25,662 $ 17,805 $ 20,990 $ 44,839 $ 7,171 $ - $ 229,548 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 3,062 $ 4,085 $ 2,394 $ 1,783 $ 510 $ 2,692 $ 6,931 $ - $ 21,457 Special mention - - - - - - - - - Substandard - - 331 - - 98 - - 429 Total Commercial Real Estate Loans $ 3,062 $ 4,085 $ 2,725 $ 1,783 $ 510 $ 2,790 $ 6,931 $ - $ 21,886 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 229,280 $ 574,375 $ 905,759 $ 757,908 $ 354,492 $ 1,412,169 $ 2,446 $ - $ 4,236,429 Nonperforming - - 391 603 1,294 13,427 - - 15,715 Total First Mortgage: $ 229,280 $ 574,375 $ 906,150 $ 758,511 $ 355,786 $ 1,425,596 $ 2,446 $ - $ 4,252,144 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 22 $ - $ - $ 22 $ - - - - - 22 - - $ 22 Home Equity Lines: Risk rating Performing $ 5,673 $ 6,384 $ 8,452 $ 6,028 $ 7,059 $ 23,979 $ - $ - $ 57,575 Nonperforming - - - - - 286 - - 286 Total Home Equity Lines: $ 5,673 $ 6,384 $ 8,452 $ 6,028 $ 7,059 $ 24,265 $ - $ - $ 57,861 Home Equity Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Lines of Credit: Risk rating Performing $ 781 $ 770 $ 409 $ 529 $ 42 $ 16,861 $ 287,155 $ - $ 306,547 Nonperforming - - - - - 2,121 308 - 2,429 Total Home Equity Credit Lines: $ 781 $ 770 $ 409 $ 529 $ 42 $ 18,982 $ 287,463 $ - $ 308,976 Home Equity Lines of Credit: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Installments: Risk rating Performing $ 5,970 $ 5,683 $ 1,888 $ 550 $ 404 $ 745 $ 1,032 $ - $ 16,272 Nonperforming 1 - 48 - 73 2 - - 124 Total Installments $ 5,971 $ 5,683 $ 1,936 $ 550 $ 477 $ 747 $ 1,032 $ - $ 16,396 Installments Loans: Current-period Gross writeoffs $ - $ 57 $ 37 $ 6 $ - $ 17 $ - $ - $ 117 $ - $ 57 $ 37 $ 6 $ - $ 17 $ - $ - $ 117 (in thousands) As of December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Commercial : 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 79,430 $ 29,991 $ 18,708 $ 22,790 $ 16,598 $ 32,666 $ 8,022 $ - $ 208,205 Special Mention - - 62 - 243 - - - 305 Substandard - - 113 - 128 1,171 - - 1,412 Total Commercial Loans $ 79,430 $ 29,991 $ 18,883 $ 22,790 $ 16,969 $ 33,837 $ 8,022 $ - $ 209,922 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 40 $ - $ - $ 40 $ - $ - $ - $ - $ - $ 40 $ - $ - $ 40 Commercial Other: Risk rating Pass $ 2,972 $ 2,848 $ 2,273 $ 590 $ 674 $ 2,348 $ 8,908 - $ 20,613 Special mention - - - - - - 39 - 39 Substandard - 339 - - - 98 - - 437 Total Commercial Real Estate Loans $ 2,972 $ 3,187 $ 2,273 $ 590 $ 674 $ 2,446 $ 8,947 $ - $ 21,089 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 557,981 $ 933,754 $ 784,511 $ 368,137 $ 257,926 $ 1,228,776 $ 1,472 $ - $ 4,132,557 Nonperforming - 496 81 844 351 12,573 - - 14,345 Total First Mortgage: $ 557,981 $ 934,250 $ 784,592 $ 368,981 $ 258,277 $ 1,241,349 $ 1,472 $ - $ 4,146,902 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 5 $ - $ - 5 $ - $ - $ - $ - $ - $ 5 $ - $ - $ 5 Home Equity Lines: Risk rating Performing $ 6,863 $ 9,124 $ 6,322 $ 7,588 $ 5,240 $ 21,217 $ - $ - $ 56,354 Nonperforming - - - - 66 129 - - 195 Total Home Equity Lines: $ 6,863 $ 9,124 $ 6,322 $ 7,588 $ 5,306 $ 21,346 $ - $ - $ 56,549 Home Equity Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Credit Lines: Risk rating Performing $ 1,369 $ 1,246 $ 740 $ 52 $ 100 $ 18,377 $ 262,244 $ - $ 284,128 Nonperforming - 7 - - - 2,111 186 - 2,304 Total Home Equity Credit Lines: $ 1,369 $ 1,253 $ 740 $ 52 $ 100 $ 20,488 $ 262,430 $ - $ 286,432 Home Equity Credit Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 19 $ - $ - 19 $ - $ - $ - $ - $ - $ 19 $ - $ - $ 19 Installments: Risk rating Performing $ 6,385 $ 2,495 $ 805 $ 709 $ 374 $ 308 $ 1,125 $ - $ 12,201 Nonperforming 20 17 - 65 - 1 3 - 106 Total Installments $ 6,405 $ 2,512 $ 805 $ 774 $ 374 $ 309 $ 1,128 $ - $ 12,307 Installments Loans: Current-period Gross writeoffs $ 1 $ 47 $ 22 $ 7 $ 2 $ 9 $ - $ - 88 $ 1 $ 47 $ 22 $ 7 $ 2 $ 9 $ - $ - $ 88 The following tables present the aging of the amortized cost in past due loans by loan class and by region as of June 30,2023: As of June 30 2023 New York and other states*: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 525 525 189,836 190,361 Other 33 8 - 41 21,525 21,566 Real estate mortgage - 1 to 4 family: First mortgages 2,681 227 8,352 11,260 2,743,780 2,755,040 Home equity loans 65 96 158 319 44,522 44,841 Home equity lines of credit 574 25 656 1,255 196,812 198,067 Installment 37 45 66 148 11,887 12,035 Total $ 3,390 401 9,757 13,548 3,208,362 3,221,910 Florida: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - - - 39,187 39,187 Other - - 314 314 6 320 Real estate mortgage - 1 to 4 family: First mortgages 506 35 1,307 1,848 1,495,256 1,497,104 Home equity loans - - - - 13,020 13,020 Home equity lines of credit 95 19 - 114 110,795 110,909 Installment 15 - 46 61 4,300 4,361 Total $ 616 54 1,667 2,337 1,662,564 1,664,901 Total: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 525 525 229,023 229,548 Other 33 8 314 355 21,531 21,886 Real estate mortgage - 1 to 4 family: First mortgages 3,187 262 9,659 13,108 4,239,036 4,252,144 Home equity loans 65 96 158 319 57,542 57,861 Home equity lines of credit 669 44 656 1,369 307,607 308,976 Installment 52 45 112 209 16,187 16,396 Total $ 4,006 455 11,424 15,885 4,870,926 4,886,811 * Includes New York, New Jersey, Vermont and Massachusetts. The following tables present the aging of the recorded investment in past due loans by loan class and by region as of December 31, 2022: As of December 31, 2022 New York and other states*: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 161 161 177,210 177,371 Other 18 - 20 38 20,183 20,221 Real estate mortgage - 1 to 4 family: First mortgages 4,262 921 7,203 12,386 2,764,603 2,776,989 Home equity loans 283 - 67 350 43,649 43,999 Home equity lines of credit 978 - 591 1,569 190,357 191,926 Installment 78 4 23 105 9,303 9,408 Total $ 5,619 925 8,065 14,609 3,205,305 3,219,914 Florida: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - - - 32,551 32,551 Other - - 314 314 554 868 Real estate mortgage - 1 to 4 family: First mortgages 1,183 243 1,404 2,830 1,367,083 1,369,913 Home equity loans 51 - - 51 12,499 12,550 Home equity lines of credit 224 - - 224 94,282 94,506 Installment 6 - 83 89 2,810 2,899 Total $ 1,464 243 1,801 3,508 1,509,779 1,513,287 Total: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 161 161 209,761 209,922 Other 18 - 334 352 20,737 21,089 Real estate mortgage - 1 to 4 family: First mortgages 5,445 1,164 8,607 15,216 4,131,686 4,146,902 Home equity loans 334 - 67 401 56,148 56,549 Home equity lines of credit 1,202 - 591 1,793 284,639 286,432 Installment 84 4 106 194 12,113 12,307 Total $ 7,083 1,168 9,866 18,117 4,715,084 4,733,201 * Includes New York, New Jersey, Vermont and Massachusetts. At June 30, 2023 and December 31, 2022, there were no loans that were 90 days past due and still accruing interest. As a result, non-accrual loans include all loans 90 days or more past due 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. The Company transfers loans to other real estate owned, at fair value less cost to sell, in the period the Company obtains physical possession of the property (through foreclosure or through a deed in lieu). Other real estate owned is included in other assets on the Balance Sheet. As of June 30,2023 other real estate owned included $ million of residential foreclosed properties. In addition, non-accrual residential mortgage loans that are in the process of foreclosure had an amortized cost of $6.9 million as of June 30, 2023 . As of December 31, 2022, other real estate owned included $2.1 million of residential foreclosed properties. In addition, non-accrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $7.4 million as of December 31, 2022 Loans individually evaluated for impairment include non-accrual commercial loans, as well as all loan modifications. As of June 30, 2023 , there was no allowance for credit losses based on the loan individually evaluated for impairment. Residential and installment non-accrual loans which are not loan modifications are collectively evaluated to determine the allowance for credit loss. The following table presents the amortized cost basis in non-accrual loans by portfolio segment: As of June 30 2023 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 545 $ - $ 545 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 13,680 2,035 15,715 Home equity loans 240 46 286 Home equity lines of credit 2,252 177 2,429 Installment 124 - 124 Total non-accrual loans 16,841 2,572 19,413 Restructured real estate mortgages - 1 to 4 family 7 - 7 Total nonperforming loans $ 16,848 $ 2,572 $ 19,420 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 2022 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 199 $ - $ 199 Other 20 314 334 Real estate mortgage - 1 to 4 family: First mortgages 12,609 1,736 14,345 Home equity loans 153 42 195 Home equity lines of credit 2,187 117 2,304 Installment 23 83 106 Total non-accrual loans 15,191 2,292 17,483 Restructured real estate mortgages - 1 to 4 family 10 - 10 Total nonperforming loans $ 15,201 $ 2,292 $ 17,493 * Includes New York, New Jersey, Vermont and Massachusetts. The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing as of June 30, 2023 and December 31,2022: As of June 30, 2023 (dollars in thousands) Non-accrual With Non-accrual With Loans Past Due No Allowance for Allowance for Over 89 Days Credit Loss Credit Loss Still Accruing Commercial: Commercial real estate $ 545 $ - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 14,406 1,309 - Home equity loans 195 91 - Home equity lines of credit 2,349 80 - Installment 112 12 - Total loans, net $ 17,921 $ 1,492 - As of December (dollars in s) Non-accrual With Non-accrual With Loans Past Due No Allowance for Allowance for Over Days Credit Loss Credit Loss Still Accruing Commercial: Commercial real estate $ 160 $ 39 - Other 20 314 - Real estate mortgage - to family: First mortgages 13,502 843 - Home equity loans 129 66 - Home equity lines of credit 2,257 47 - Installment 82 24 - Total loans, net $ 16,150 $ 1,333 - The non-accrual balance of $1.5 million and $1.3 million was collectively evaluated and the associated allowance for credit losses on loans was not material as of June 30, 2023 and December 31, 2022, respectively. A financial asset is considered collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. Expected credit losses for the collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The following table presents the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of June 30, 2023 and December 31, 2022: As of June 30, Type of Collateral (dollars in thousands) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 656 - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 21,934 - - Home equity loans 299 - - Home equity lines of credit 3,313 - - Installment 112 - - Total $ 26,628 - - As of December Type of Collateral (dollars in s) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 312 - - Other 334 - - Real estate mortgage - to family: First mortgages 21,467 - - Home equity loans 236 - - Home equity lines of credit 3,264 - - Installment 82 - - Total $ 25,695 - - The Company has not committed to lend additio nal amounts to customers with outstanding loans that are modified. Interest income recognized o n loans that are individually evaluated was not material du and months ended and As of loans individually evaluated included approximately Pursuant to the adoption of ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructuring and Vintage Disclosures (“ASU 2022-02”), a borrower that is experiencing financial difficulty and receives a modification in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay or a term extension in the current period needs to be disclosed. The following table presents the amortized cost basis of loans at June 30, 2023 that were both experiencing financial difficulty and modified during the three and six months ended June 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below : For the three months ended June 30, 2023 New York and other states*: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - - First mortgages 238 0.01 % Home equity loans - - Home equity lines of credit 50 0.03 % Installment - - Total $ 288 0.01 % Florida: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - First mortgages 342 0.02 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 342 0.02 % Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 580 0.01 % Home equity loans - - Home equity lines of credit 50 0.02 % Installment - - Total $ 630 0.01 % * Includes New York, New Jersey, Vermont and Massachusetts. For the six months ended June 30, 2023 New York and other states*: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - - First mortgages 238 0.01 % Home equity loans - - Home equity lines of credit 50 0.03 % Installment - - Total $ 288 0.01 % Florida: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 342 0.02 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 342 0.02 % Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 580 0.01 % Home equity loans - - Home equity lines of credit 50 0.02 % Installment - - Total $ 630 0.01 % * Includes New York, New Jersey, Vermont and Massachusetts. The Bank monitors the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table describes the performance of loans that have been modified during the six months ended June 30, 2023: As of June 30, 2023 New York and other states*: 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 238 - - - 238 Home equity loans - - - - - Home equity lines of credit 50 - - - 50 Installment - - - - - Total $ 288 $ - $ - $ - $ 288 Florida: 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 342 - - - 342 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 342 $ - $ - $ - $ 342 Total 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 580 - - - 580 Home equity loans - - - - - Home equity lines of credit 50 - - - 50 Installment - - - - - Total $ 630 $ - $ - $ - $ 630 * Includes New York, New Jersey, Vermont and Massachusetts. The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty: For the three months ended June 30, 2023 Weighted New York and other states*: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 22 Home equity loans - Home equity lines of credit 18 Installment - Total $ 40 Weighted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 24 Home equity loans - Home equity lines of credit - Installment - Total $ 24 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 46 Home equity loans - Home equity lines of credit 18 Installment - Total $ 64 * Includes New York, New Jersey, Vermont and Massachusetts. For the six months ended June 30, 2023 Weighted New York and other states*: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 22 Home equity loans - Home equity lines of credit 18 Installment - Total $ 40 Weghted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 24 Home equity loans - Home equity lines of credit - Installment - Total $ 24 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 46 Home equity loans - Home equity lines of credit 18 Installment - Total $ 64 * Includes New York, New Jersey, Vermont and Massachusetts. As of June 30, 2023, all loans both experiencing financial difficulty and modified during the six months ended June 30, 2023 were current under the terms of the agreements. There were no commitments to lend additional funds to the borrowers and there were no charge-offs recorded against the loans. The Company had no allowance for credit losses recorded against these loans as of June 30, 2023. The Company did not have any loan modifications that had a payment default during the six months ended June 30, 2023. Prior to the adoption of ASU 2022-02, the company accounted for loan modifications as Troubled Debt Restructurings (TDRs) and the following table presents, by class, loans that were modified as TDR’s for the three and six months ended June 30, 2022: Three months ended June 30, 2022 New York and other states*: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages 1 73 73 Home equity loans - - - Home equity lines of credit - - - Total 1 $ 73 73 Florida: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages - - - Home equity loans - - - Home equity lines of credit - - - Total - $ - - * Includes New York, New Jersey, Vermont and Massachusetts. Six June 30, 2022 New York and other states*: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages 4 443 443 Home equity loans - - - Home equity lines of credit - - - Total 4 $ 443 443 Florida: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate m |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments | (6) Fair Value of Financial Instruments FASB Topic 820, Fair Value Measurements 820 ”) 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 Other Real Estate Owned Individually evaluated loans : Periodically the Company records non-recurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Non-recurring adjustments can also include certain adjustments for collateral-dependent loans to adjust balances to fair value and generally have had a through the allowance for credit losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. Indications of value for both collateral-dependent 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. There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2023 and 2022. Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: Fair Value Measurements at June 30 2023 Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) U.S. government sponsored enterprises $ 113,570 $ - $ 113,570 $ - State and political subdivisions 34 - 34 - Mortgage backed securities and collateralized mortgage obligations - residential 243,444 - 243,444 - Corporate bonds 76,618 - 76,618 - Small Business Administration- guaranteed participation securities 18,382 - 18,382 - Other securities 656 25 631 - Total securities available for sale $ 452,704 $ 25 $ 452,679 $ - Fair Value Measurements at December 31, 2022 Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 118,187 $ - $ 118,187 $ - State and political subdivisions 34 - 34 - Mortgage backed securities and collateralized mortgage obligations - residential 260,316 - 260,316 - Corporate bonds 81,346 - 81,346 - Small Business Administration- guaranteed participation securities 20,977 - 20,977 - Other securities 653 - 653 - Total securities available for sale $ 481,513 $ - $ 481,513 $ - Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2023 Using: Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 1,412 $ - $ - $ 1,412 Sales comparison approach Adjustments for differences between comparable sales 1% - 80% (28 %) Fair Value Measurements at December 31, 2022 Using: Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 2,061 $ - $ - $ 2,061 Sales comparison approach Adjustments for differences between comparable sales 2% - 47% (18 %) Other real estate owned, that is carried at fair value less costs to sell was approximately $1.4 million at June 30, 2023 and consisted of residential real estate properties. There were no commercial real estate properties. A valuation charge of $107 thousand is included in earnings for the six months ended June 30, 2023. Of the total individually evaluated loans of $23.8 million at June 30, 2023, there are no loans that are collateral dependent 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, 2023. There were no Other real estate owned, which is carried at fair value less costs to sell, was approximately $2.1 million at December 31, 2022, and consisted of only residential real estate properties. A valuation charge of $68 thousand is included in earnings for the year ended December 31, 2022. Of the total individually evaluated loans of $25.7 million at December 31, 2022, there are no loans that were collateral dependent 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, 2022. In accordance with FASB Topic 825, Financial Instruments (“ASC 825”), the carrying amounts and estimated fair values of financial instruments, at June 30, 2023 and December 31, 2022 are as follows: (dollars in thousands) Fair Value Measurements at Carrying June 30 2023 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 603,357 603,357 - - 603,357 Securities available for sale 452,704 25 452,679 - 452,704 Held to maturity securities 7,043 - 6,926 - 6,926 Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,839,897 - - 4,428,975 4,428,975 Accrued interest receivable 11,762 100 1,734 9,928 11,762 Financial liabilities: Demand deposits 791,353 791,353 - - 791,353 Interest bearing deposits 4,467,094 3,024,135 1,418,561 - 4,442,696 Short-term borrowings 113,765 - 113,765 - 113,765 Accrued interest payable 2,046 208 1,838 - 2,046 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2022 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 650,599 650,599 - - 650,599 Securities available for sale 481,513 - 481,513 - 481,513 Held to maturity securities 7,707 - 7,580 - 7,580 Federal Reserve Bank and Federal Home Loan Bank stock 5,797 N/A N/A N/A N/A Net loans 4,687,169 - - 4,328,508 4,328,508 Accrued interest receivable 11,492 189 1,866 9,437 11,492 Financial liabilities: Demand deposits 838,147 838,147 - - 838,147 Interest bearing deposits 4,354,663 3,325,900 1,012,528 - 4,338,428 Short-term borrowings 122,700 - 122,700 - 122,700 Accrued interest payable 602 60 542 - 602 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | (7) Accumulated Other Comprehensive Income (Loss) The following is a summary of the accumulated other comprehensive (loss) income balances, net of tax: Three months ended June 30, 2023 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Three months ended Balance at (dollars in thousands) 4/1/2023 Reclassifications Loss 6/30/2023 6/30/2023 Net unrealized holding loss on securities available for sale, net of tax $ (28,370 ) $ (2,755 ) $ - $ (2,755 ) $ (31,125 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 7,588 - - - 7,588 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (2,593 ) - (82 ) (82 ) (2,675 ) Accumulated other comprehensive loss, net of tax $ (23,375 ) $ (2,755 ) $ (82 ) $ (2,837 ) $ (26,212 ) Three months ended June 30 2022 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Three months ended Balance at (dollars in thousands) 4/1/2022 Reclassifications Loss 6/30/2022 6/30/2022 Net unrealized holding loss on securities available for sale, net of tax $ (14,277 ) $ (6,829 ) $ - $ (6,829 ) $ (21,106 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,706 - - - 13,706 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (1,798 ) - (224 ) (224 ) (2,022 ) Accumulated other comprehensive loss, net of tax $ (2,369 ) $ (6,829 ) $ (224 ) $ (7,053 ) $ (9,422 ) Six months ended June 30, 2023 Other Amount Other Comprehensive reclassified Comprehensive Income- from Accumulated Income- Balance at Before Other Comprehensive Six months ended Balance at (dollars in thousands) 1/1/2023 Reclassifications Income 6/30/2023 6/30/2023 Net unrealized holding gain on securities available for sale, net of tax $ (32,271 ) $ 1,146 $ - $ 1,146 $ (31,125 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 7,588 - - - 7,588 Net change in net actuarial gain and prior service credit on pension and postretirement benefit plans, net of tax (2,511 ) - (164 ) (164 ) (2,675 ) Accumulated other comprehensive income (loss), net of tax $ (27,194 ) $ 1,146 $ (164 ) $ 982 $ (26,212 ) Six June 30 2022 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Six months ended Balance at (dollars in thousands) 1/1/2022 Reclassifications Loss 6/30/2022 6/30/2022 Net unrealized holding loss on securities available for sale, net of tax $ (26 ) $ (21,080 ) $ - $ (21,080 ) $ (21,106 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,706 - - - 13,706 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (1,533 ) - (489 ) (489 ) (2,022 ) Accumulated other comprehensive income (loss), net of tax $ 12,147 $ (21,080 ) $ (489 ) $ (21,569 ) $ (9,422 ) The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022: (dollars in thousands) Three months ended Six June 30 June 30 2023 2022 2023 2022 Affected Line Item in Financial Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 114 $ 426 $ 228 $ 504 Salaries and employee benefits Amortization of prior service (cost) credit (3 ) (123 ) (6 ) 157 Salaries and employee benefits Income tax benefit (29 ) (79 ) (58 ) (172 ) Income taxes Net of tax 82 224 164 489 Total reclassifications, net of tax $ 82 $ 224 $ 164 $ 489 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2023 | |
Revenue from Contracts with Customers [Abstract] | |
Revenue from Contracts with Customers | (8) Revenue from Contracts with Customers All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within Non-Interest Income. The following table presents the Company’s sources of Non-Interest Income for the three months and six months ended June 30, 2023 and 2022. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended Six June 30 June 30 2023 2022 2023 2022 Non-interest income Service Charges on Deposits Overdraft fees $ 723 647 $ 1,403 1,293 Other 554 495 1,086 972 Interchange Income 1,628 1,544 3,107 3,246 Wealth management fees 1,412 1,996 3,186 3,829 Other (a) 281 234 485 759 Total non-interest income $ 4,598 4,916 $ 9,267 10,099 (a) Not within the scope of ASC 606. A description of how the Company’s revenue streams accounted for ASC 606 is set forth below: Service charges on Deposit Accounts: Interchange Income: Wealth Management fees: |
Operating Leases
Operating Leases | 6 Months Ended |
Jun. 30, 2023 | |
Operating Leases [Abstract] | |
Operating Leases | (9) Operating Leases The Company has committed to rent premises used in business operations under non-cancelable operating leases and determines if an arrangement meets the definition of a lease upon inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the Company’s balance sheets. Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company’s leases do not provide an implicit rate, therefore the Company used its incremental collateralized borrowing rates commensurate with the underlying lease terms to determine present value of operating lease liabilities. Additionally, the Company does allocate the consideration between lease and non-lease components. The Company’s lease terms may include options to extend when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Variable lease components, such as fair market value adjustments, are expensed as incurred and not included in ROU assets and operating lease liabilities. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. As of June 30, 2023 the Company did not have any leases with terms of twelve months or less. As of the Company did not have any leases for which the construction had not yet started. At lease expiration dates ranged from to years and have a weighted average remaining lease term of years. Certain leases provide for increases in future minimum annual rental payments as defined in the lease agreements. As mentioned above the leases generally also include variable lease components, which include real estate taxes, insurance, and common area maintenance (“CAM”) charges in the annual rental payments. Other information related to leases was as follows: (dollars in thousands) Three months ended June 30 2023 2022 Operating lease cost $ 2,037 2,071 Variable lease cost 619 545 Total Lease costs $ 2,656 2,616 (dollars in thousands) Six months ended June 30 2023 2022 Operating lease cost $ 4,087 4,123 Variable lease cost 1,204 1,141 Total Lease costs $ 5,291 5,264 ( Six months ended June 30, 2023 2022 Supplemental cash flows information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,165 4,186 Right-of-use assets obtained in exchange for lease obligations: 1,653 2,484 Weighted average remaining lease term 8.7 9.2 Weighted average discount rate 3.05 % 2.97 % Future minimum lease payments under non-cancellable leases as of June 30, 2023 were as follows: (dollars in thousands) Year ending December 31, 2023 (a) $ 4,212 2024 8,379 2025 7,978 2026 7,004 2027 5,767 Thereafter 20,522 Total lease payments $ 53,862 Less: Interest 6,690 Present value of lease liabilities $ 47,172 (a) Excluding the six months ended June 30, 2023. A member of the Board of Directors has an ownership interest in entities that own commercial real estate leased by the Company for use as branch locations. Total lease payments from the Company to those entities, which are included in the table above, owed at June 30, 2023, were $ million, which includes interest in the amount of $ thousand. |
Regulatory Capital Requirements
Regulatory Capital Requirements | 6 Months Ended |
Jun. 30, 2023 | |
Regulatory Capital Requirements [Abstract] | |
Regulatory Capital Requirements | (10) Regulatory Capital Requirements Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy regulations and, additionally for banks, the prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. As of June 30, 2023, the Company and Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If a bank is not classified as well capitalized, regulatory approval is required to accept brokered deposits. If a bank is undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The federal banking agencies are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution or its holding company. Such actions could have a direct material effect on an institution’s or its holding company’s financial statements. As of June, 2023 and December 31, 2022, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Bank and the Company reported the following capital ratios as of June 30 : (Bank Only) Minimum for As of June 30, 2023 Well Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 627,958 10.370 % 5.000 % 4.000 % Common equity tier 1 capital 627,958 18.477 6.500 7.000 Tier 1 risk-based capital 627,958 18.477 8.000 8.500 Total risk-based capital 670,522 19.730 10.000 10.500 As of December 31, 2022 Well Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 609,998 10.116 % 5.000 % 4.000 % Common equity tier 1 capital 609,998 18.431 6.500 7.000 Tier 1 risk-based capital 609,998 18.431 8.000 8.500 Total risk-based capital 651,462 19.684 10.000 10.500 (Consolidated) As of June 30, 2023 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 647,048 10.682 % 4.000 % Common equity tier 1 capital 647,048 19.034 7.000 Tier 1 risk-based capital 647,048 19.034 8.500 Total risk-based capital 689,629 20.286 10.500 As of December 31, 2022 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 626,628 10.390 % 4.000 % Common equity Tier 1 capital 626,628 18.929 7.000 Tier 1 risk-based capital 626,628 18.929 8.500 Total risk-based capital 668,102 20.182 10.500 (1) Federal regulatory minimum requirements to be considered to be Well Capitalized and Adequately Capitalized (2) The June 30, 2023 and December 31, 2022 common equity tier 1, tier 1 risk-based, and total risk-based capital ratios include a capital conservation buffer of 2.50 percent |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2023 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | (11) New Accounting Pronouncements Staff Accounting Bulletin (“SAB”) No. 121 ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures: In March 2022, FASB issued ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructuring and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments in this ASU require that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments - Credit Losses -Measured at Amortized Cost. For entities, like TrustCo, that have adopted the amendments in ASU 2016-13, the amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those years. Early adoption was permitted, including adoption in an interim period. An entity may have elected to adopt the loan modification guidance and related disclosure enhancements separately from the amendments related to vintage disclosures. The Company adopted the ASU on January 1, 2023 using the prospective approach and the adoption did not have a material impact to the Company, however, disclosures were modified for the new guidance. |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2023 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings Per Share | A reconciliation of the component parts of earnings per share for the three and six months ended June 30, 2023 and 2022 is as follows: (in thousands, except per share data) For the three months ended For the six months ended June 30 June 30 2023 2022 2023 2022 Net income $ 16,372 $ 17,871 $ 34,118 $ 34,960 Weighted average common shares 19,024 19,153 19,024 19,185 Stock Options - - 1 - Weighted average common shares including potential dilutive shares 19,024 19,153 19,025 19,185 Basic EPS $ 0.86 $ 0.93 $ 1.79 $ 1.82 Diluted EPS $ 0.86 $ 0.93 $ 1.79 $ 1.82 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Benefit Plans [Abstract] | |
Net Periodic Benefit | The table below outlines the components of the Company’s net periodic benefit recognized during the three and six months ended June 30, 2023 and 2022 for its pension and other postretirement benefit plans Three months ended June 30 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2023 2022 2023 2022 Service cost $ - $ - $ 3 $ (9 ) Interest cost 304 221 66 51 Expected return on plan assets (661 ) (796 ) (290 ) (333 ) Amortization of net gain - - (114 ) (426 ) Amortization of prior service cost - - 3 123 Net periodic benefit $ (357 ) $ (575 ) $ (332 ) $ (594 ) Six months ended June 30 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2023 2022 2023 2022 Service cost $ - $ - $ 5 $ 9 Interest cost 606 444 132 103 Expected return on plan assets (1,341 ) (1,613 ) (579 ) (666 ) Amortization of net gain - - (228 ) (504 ) Amortization of prior service cost (credit) - - 6 (157 ) Net periodic benefit $ (735 ) $ (1,169 ) $ (664 ) $ (1,215 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Investment Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available For Sale | The amortized cost and fair value of the securities available for sale are as follows: June 30 2023 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 119,175 - 5,605 113,570 State and political subdivisions 34 - - 34 Mortgage backed securities and collateralized mortgage obligations - residential 273,955 13 30,524 243,444 Corporate bonds 80,394 - 3,776 76,618 Small Business Administration - guaranteed participation securities 20,444 - 2,062 18,382 Other 686 - 30 656 Total Securities Available for Sale $ 494,688 13 41,997 452,704 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 124,123 1 5,937 118,187 State and political subdivisions 34 - - 34 Mortgage backed securities and collateralized mortgage obligations - residential 291,431 34 31,149 260,316 Corporate bonds 85,641 - 4,295 81,346 Small Business Administration - guaranteed participation securities 23,115 - 2,138 20,977 Other 686 - 33 653 Total Securities Available for Sale $ 525,030 35 43,552 481,513 |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Proceeds from Sales and Calls of Securities Available For Sale, Gross Realized Gains and Gross Realized Losses | The proceeds from sales and calls and maturities of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended June 30, (dollars in thousands) 2023 2022 Proceeds from sales $ - - Proceeds from calls/paydowns 14,811 25,415 Proceeds from maturities 5,000 5,050 Gross realized gains - - Gross realized losses - - Six months ended June 30, (dollars in thousands) 2023 2022 Proceeds from sales $ - - Proceeds from calls/paydowns 29,469 43,338 Proceeds from maturities 5,000 10,050 Gross realized gains - - Gross realized losses - - |
Amortized Cost and Fair Value of Held to Maturity Securities | The amortized cost and fair value of the held to maturity securities are as follows: June 30 2023 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,043 57 174 6,926 Total held to maturity $ 7,043 57 174 6,926 December 31, 2022 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,707 90 217 7,580 Total held to maturity $ 7,707 90 217 7,580 |
Securities Available for Sale [Member] | |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Debt Securities Based on Securities Contractual Maturity | The following table categorizes the debt securities included in the available for sale portfolio as of June 30, 2023 based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately: Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 55,284 53,461 Due after one year through five years 145,005 137,417 Mortgage backed securities and collateralized mortgage obligations - residential 273,955 243,444 Small Business Administration - guaranteed participation securities 20,444 18,382 $ 494,688 452,704 |
Gross Unrealized Losses on Investment Securities and Related Fair Values in 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: June 30 2023 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ 52,728 $ 1,459 $ 60,841 $ 4,146 $ 113,569 $ 5,605 Mortgage backed securities and collateralized mortgage obligations - residential 40,282 2,477 200,666 28,047 240,948 30,524 Corporate bonds 9,721 293 66,897 3,483 76,618 3,776 Small Business Administration - guaranteed participation securities - - 18,382 2,062 18,382 2,062 Other - - 619 30 619 30 Total $ 102,731 $ 4,229 $ 347,405 $ 37,768 $ 450,136 $ 41,997 December 31, 2022 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ 57,849 1,290 55,337 4,647 113,186 5,937 Mortgage backed securities and collateralized mortgage obligations - residential 164,772 13,010 93,009 18,139 257,781 31,149 Corporate bonds 52,805 2,395 28,542 1,900 81,347 4,295 Small Business Administration - guaranteed participation securities 802 71 20,175 2,067 20,977 2,138 Other 49 1 568 32 617 33 Total $ 276,277 $ 16,767 $ 197,631 $ 26,785 $ 473,908 $ 43,552 |
Held to Maturity Securities [Member] | |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Debt Securities Based on Securities Contractual Maturity | The following table categorizes the debt securities included in the (dollars in thousands) Amortized Fair Cost Value Mortgage backed securities and collateralized mortgage obligations - residential $ 7,043 6,926 $ 7,043 6,926 |
Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position | 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 unrealized loss position, were as follows: June 30, 2023 Less than 12 months (dollars in thousands) 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 $ 349 8 2,900 166 3,249 174 Total $ 349 8 2,900 166 3,249 174 December 31, 2022 Less than 12 months (dollars in thousands) 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 $ 3,327 206 258 11 3,585 217 Total $ 3,327 206 258 11 3,585 217 |
Loan Portfolio and Allowance _2
Loan Portfolio and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Loan Portfolio and Allowance for Credit Losses [Abstract] | |
Recorded Investment in Loans by Portfolio Segment | The following table presents loans by portfolio segment: June 30, 2023 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 190,361 $ 39,187 $ 229,548 Other 21,566 320 $ 21,886 Real estate mortgage - 1 to 4 family: First mortgages 2,755,040 1,497,104 $ 4,252,144 Home equity loans 44,841 13,020 $ 57,861 Home equity lines of credit 198,067 110,909 $ 308,976 Installment 12,035 4,361 $ 16,396 Total loans, net $ 3,221,910 $ 1,664,901 4,886,811 Less: Allowance for credit losses 46,914 Net loans $ 4,839,897 * Includes New York, New Jersey, Vermont and Massachussetts. December 31, 2022 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 177,371 $ 32,551 $ 209,922 Other 20,221 868 21,089 Real estate mortgage - 1 to 4 family: First mortgages 2,776,989 1,369,913 4,146,902 Home equity loans 43,999 12,550 56,549 Home equity lines of credit 191,926 94,506 286,432 Installment 9,408 2,899 12,307 Total loans, net $ 3,219,914 $ 1,513,287 4,733,201 Less: Allowance for credit losses 46,032 Net loans $ 4,687,169 * Includes New York, New Jersey, Vermont and Massachussetts. |
Activity in Allowance For Credit Losses on Loans by Portfolio Segment | Activity in the allowance for credit losses on loans by portfolio segment for the three months ended June 30, 2023 and 2022 is summarized as follows: For the three months ended June 30 ( dollars in s) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,708 $ 43,766 $ 211 $ 46,685 Loans charged off: New York and other states* - 22 29 51 Florida - - 40 40 Total loan chargeoffs - 22 69 91 Recoveries of loans previously charged off: New York and other states* 129 183 8 320 Florida - - - - Total recoveries 129 183 8 320 Net loans (recoveries) charged off (129 ) (161 ) 61 (229 ) (Credit) provision for credit losses (227 ) 140 87 - Balance at end of period $ 2,610 $ 44,067 $ 237 $ 46,914 * Includes New York, New Jersey, Vermont and Massachusetts. For the three months ended June 30 2022 ( dollars in s) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,177 43,931 70 46,178 Loans charged off: New York and other states* 4 12 14 30 Florida - - - - Total loan chargeoffs 4 12 14 30 Recoveries of loans previously charged off: New York and other states* 4 131 2 137 Florida - - - - Total recoveries 4 131 2 137 Net loan recoveries - (119 ) 12 (107 ) (Credit) provision for credit losses 97 (1,170 ) 73 (1,000 ) Balance at end of period $ 2,274 42,880 131 45,285 * Includes New York, New Jersey, Vermont and Massachusetts. Activity in the allowance for credit losses on loans by portfolio segment for the six months ended June 30, 2023 and 2022 is summarized as follows: For the six June 30 2023 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,596 $ 43,271 $ 165 $ 46,032 Loans charged off: New York and other states* - 22 46 68 Florida - - 71 71 Total loan chargeoffs - 22 117 139 Recoveries of loans previously charged off: New York and other states* 129 236 31 396 Florida - 25 - 25 Total recoveries 129 261 31 421 Net loans (recoveries) charged off (129 ) (239 ) 86 (282 ) (Credit) provision for credit losses (115 ) 557 158 600 Balance at end of period $ 2,610 $ 44,067 $ 237 $ 46,914 * Includes New York, New Jersey, Vermont and Massachusetts. For the six June 30 2022 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 3,135 40,689 443 44,267 Impact of ASU 2016-13, Current Expected Credit Loss (CECL) $ (986 ) 3,717 (378 ) 2,353 Balance as of January 1, 2022 as adjuste dfor ASU 2016-13 $ 2,149 44,406 65 46,620 Loans charged off: New York and other states* 40 12 25 77 Florida - - - - Total loan chargeoffs 40 12 25 77 Recoveries of loans previously charged off: New York and other states* 4 228 10 242 Florida - - - - Total recoveries 4 228 10 242 Net loan recoveries 36 (216 ) 15 (165 ) (Credit) provision for loan losses 161 (1,742 ) 81 (1,500 ) Balance at end of period $ 2,274 42,880 131 45,285 * Includes New York, New Jersey, Vermont and Massachusetts. |
Allowance For Credit Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method | The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of June 30, 2023 and December 31, 2022: As of June 30 2023 ( dollars in s) 1-to-4 Family Commercial Residential Installment Loans Real Estate Loans Total Allowance for credit losses on loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - $ - $ - $ - Collectively evaluated for impairment 2,610 44,067 237 46,914 Total ending allowance balance $ 2,610 $ 44,067 $ 237 $ 46,914 Loans: Individually evaluated for impairment $ 970 $ 25,546 $ 112 $ 26,628 Collectively evaluated for impairment 250,464 4,593,435 16,284 4,860,183 Total ending loans balance $ 251,434 $ 4,618,981 $ 16,396 $ 4,886,811 December 31, 2022 ( dollars in s) 1-to-4 Family Commercial Residential Installment Loans Real Estate Loans Total Allowance for credit losses on loans: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 2,596 43,271 165 46,032 Total ending allowance balance $ 2,596 43,271 165 46,032 Loans: Individually evaluated for impairment $ 646 24,967 82 25,695 Collectively evaluated for impairment 230,365 4,464,916 12,225 4,707,506 Total ending loans balance $ 231,011 4,489,883 12,307 4,733,201 |
Allowance for Credit Losses on Unfunded Commitments | The Company’s activity in the allowance for credit losses on unfunded commitments for the three and six months ended June 30, 2023 and 2022 were as follows: (In thousands) For the three months ended June 30, 2023 Balance at March 31, 2023 $ 2,612 Credit provision for credit losses (500 ) Balance at June 30, 2023 $ 2,112 (In thousands) For the six months ended June 30, 2023 Balance at January 1, 2023 $ 2,912 Credit provision for credit losses (800 ) Balance at June 30, 2023 $ 2,112 (In thousands) For the three months ended June 30, 2022 Balance at March 31, 2022 $ 2,653 Provision for credit losses 509 Balance at June 30, 2022 $ 3,162 (In thousands) For the six months ended June 30, 2022 Balance at January 1, 2022 $ 18 Impact of Adopting CECL 2,335 Adjusted Balance at January 1, 2022 $ 2,353 Provision for credit losses 809 Balance at June 30, 2022 $ 3,162 |
Risk Category Loans by Class of Loans | As of June 30, 2023, and December 31, 2022 and based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs year to date for each loan type by origination year was as follows: (in thousands) As of June 30, 2023 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Commercial : Risk rating Pass $ 30,169 $ 82,912 $ 25,662 $ 17,642 $ 20,990 $ 43,174 $ 7,171 $ - $ 227,720 Special Mention - - - 53 - 234 - - 287 Substandard - - - 110 - 1,431 - - 1,541 Total Commercial Loans $ 30,169 $ 82,912 $ 25,662 $ 17,805 $ 20,990 $ 44,839 $ 7,171 $ - $ 229,548 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 3,062 $ 4,085 $ 2,394 $ 1,783 $ 510 $ 2,692 $ 6,931 $ - $ 21,457 Special mention - - - - - - - - - Substandard - - 331 - - 98 - - 429 Total Commercial Real Estate Loans $ 3,062 $ 4,085 $ 2,725 $ 1,783 $ 510 $ 2,790 $ 6,931 $ - $ 21,886 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 229,280 $ 574,375 $ 905,759 $ 757,908 $ 354,492 $ 1,412,169 $ 2,446 $ - $ 4,236,429 Nonperforming - - 391 603 1,294 13,427 - - 15,715 Total First Mortgage: $ 229,280 $ 574,375 $ 906,150 $ 758,511 $ 355,786 $ 1,425,596 $ 2,446 $ - $ 4,252,144 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 22 $ - $ - $ 22 $ - - - - - 22 - - $ 22 Home Equity Lines: Risk rating Performing $ 5,673 $ 6,384 $ 8,452 $ 6,028 $ 7,059 $ 23,979 $ - $ - $ 57,575 Nonperforming - - - - - 286 - - 286 Total Home Equity Lines: $ 5,673 $ 6,384 $ 8,452 $ 6,028 $ 7,059 $ 24,265 $ - $ - $ 57,861 Home Equity Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Lines of Credit: Risk rating Performing $ 781 $ 770 $ 409 $ 529 $ 42 $ 16,861 $ 287,155 $ - $ 306,547 Nonperforming - - - - - 2,121 308 - 2,429 Total Home Equity Credit Lines: $ 781 $ 770 $ 409 $ 529 $ 42 $ 18,982 $ 287,463 $ - $ 308,976 Home Equity Lines of Credit: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Installments: Risk rating Performing $ 5,970 $ 5,683 $ 1,888 $ 550 $ 404 $ 745 $ 1,032 $ - $ 16,272 Nonperforming 1 - 48 - 73 2 - - 124 Total Installments $ 5,971 $ 5,683 $ 1,936 $ 550 $ 477 $ 747 $ 1,032 $ - $ 16,396 Installments Loans: Current-period Gross writeoffs $ - $ 57 $ 37 $ 6 $ - $ 17 $ - $ - $ 117 $ - $ 57 $ 37 $ 6 $ - $ 17 $ - $ - $ 117 (in thousands) As of December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Commercial : 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 79,430 $ 29,991 $ 18,708 $ 22,790 $ 16,598 $ 32,666 $ 8,022 $ - $ 208,205 Special Mention - - 62 - 243 - - - 305 Substandard - - 113 - 128 1,171 - - 1,412 Total Commercial Loans $ 79,430 $ 29,991 $ 18,883 $ 22,790 $ 16,969 $ 33,837 $ 8,022 $ - $ 209,922 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 40 $ - $ - $ 40 $ - $ - $ - $ - $ - $ 40 $ - $ - $ 40 Commercial Other: Risk rating Pass $ 2,972 $ 2,848 $ 2,273 $ 590 $ 674 $ 2,348 $ 8,908 - $ 20,613 Special mention - - - - - - 39 - 39 Substandard - 339 - - - 98 - - 437 Total Commercial Real Estate Loans $ 2,972 $ 3,187 $ 2,273 $ 590 $ 674 $ 2,446 $ 8,947 $ - $ 21,089 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 557,981 $ 933,754 $ 784,511 $ 368,137 $ 257,926 $ 1,228,776 $ 1,472 $ - $ 4,132,557 Nonperforming - 496 81 844 351 12,573 - - 14,345 Total First Mortgage: $ 557,981 $ 934,250 $ 784,592 $ 368,981 $ 258,277 $ 1,241,349 $ 1,472 $ - $ 4,146,902 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 5 $ - $ - 5 $ - $ - $ - $ - $ - $ 5 $ - $ - $ 5 Home Equity Lines: Risk rating Performing $ 6,863 $ 9,124 $ 6,322 $ 7,588 $ 5,240 $ 21,217 $ - $ - $ 56,354 Nonperforming - - - - 66 129 - - 195 Total Home Equity Lines: $ 6,863 $ 9,124 $ 6,322 $ 7,588 $ 5,306 $ 21,346 $ - $ - $ 56,549 Home Equity Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Credit Lines: Risk rating Performing $ 1,369 $ 1,246 $ 740 $ 52 $ 100 $ 18,377 $ 262,244 $ - $ 284,128 Nonperforming - 7 - - - 2,111 186 - 2,304 Total Home Equity Credit Lines: $ 1,369 $ 1,253 $ 740 $ 52 $ 100 $ 20,488 $ 262,430 $ - $ 286,432 Home Equity Credit Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 19 $ - $ - 19 $ - $ - $ - $ - $ - $ 19 $ - $ - $ 19 Installments: Risk rating Performing $ 6,385 $ 2,495 $ 805 $ 709 $ 374 $ 308 $ 1,125 $ - $ 12,201 Nonperforming 20 17 - 65 - 1 3 - 106 Total Installments $ 6,405 $ 2,512 $ 805 $ 774 $ 374 $ 309 $ 1,128 $ - $ 12,307 Installments Loans: Current-period Gross writeoffs $ 1 $ 47 $ 22 $ 7 $ 2 $ 9 $ - $ - 88 $ 1 $ 47 $ 22 $ 7 $ 2 $ 9 $ - $ - $ 88 |
Aging of Recorded Investment in Past Due Loans by Loan Class and by Region | The following tables present the aging of the amortized cost in past due loans by loan class and by region as of June 30,2023: As of June 30 2023 New York and other states*: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 525 525 189,836 190,361 Other 33 8 - 41 21,525 21,566 Real estate mortgage - 1 to 4 family: First mortgages 2,681 227 8,352 11,260 2,743,780 2,755,040 Home equity loans 65 96 158 319 44,522 44,841 Home equity lines of credit 574 25 656 1,255 196,812 198,067 Installment 37 45 66 148 11,887 12,035 Total $ 3,390 401 9,757 13,548 3,208,362 3,221,910 Florida: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - - - 39,187 39,187 Other - - 314 314 6 320 Real estate mortgage - 1 to 4 family: First mortgages 506 35 1,307 1,848 1,495,256 1,497,104 Home equity loans - - - - 13,020 13,020 Home equity lines of credit 95 19 - 114 110,795 110,909 Installment 15 - 46 61 4,300 4,361 Total $ 616 54 1,667 2,337 1,662,564 1,664,901 Total: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 525 525 229,023 229,548 Other 33 8 314 355 21,531 21,886 Real estate mortgage - 1 to 4 family: First mortgages 3,187 262 9,659 13,108 4,239,036 4,252,144 Home equity loans 65 96 158 319 57,542 57,861 Home equity lines of credit 669 44 656 1,369 307,607 308,976 Installment 52 45 112 209 16,187 16,396 Total $ 4,006 455 11,424 15,885 4,870,926 4,886,811 * Includes New York, New Jersey, Vermont and Massachusetts. The following tables present the aging of the recorded investment in past due loans by loan class and by region as of December 31, 2022: As of December 31, 2022 New York and other states*: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 161 161 177,210 177,371 Other 18 - 20 38 20,183 20,221 Real estate mortgage - 1 to 4 family: First mortgages 4,262 921 7,203 12,386 2,764,603 2,776,989 Home equity loans 283 - 67 350 43,649 43,999 Home equity lines of credit 978 - 591 1,569 190,357 191,926 Installment 78 4 23 105 9,303 9,408 Total $ 5,619 925 8,065 14,609 3,205,305 3,219,914 Florida: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - - - 32,551 32,551 Other - - 314 314 554 868 Real estate mortgage - 1 to 4 family: First mortgages 1,183 243 1,404 2,830 1,367,083 1,369,913 Home equity loans 51 - - 51 12,499 12,550 Home equity lines of credit 224 - - 224 94,282 94,506 Installment 6 - 83 89 2,810 2,899 Total $ 1,464 243 1,801 3,508 1,509,779 1,513,287 Total: 30-59 60-89 90 + Total Days Days Days 30+ days Total (dollars in thousands) Past Due Past Due Past Due Past Due Current Loans Commercial: Commercial real estate $ - - 161 161 209,761 209,922 Other 18 - 334 352 20,737 21,089 Real estate mortgage - 1 to 4 family: First mortgages 5,445 1,164 8,607 15,216 4,131,686 4,146,902 Home equity loans 334 - 67 401 56,148 56,549 Home equity lines of credit 1,202 - 591 1,793 284,639 286,432 Installment 84 4 106 194 12,113 12,307 Total $ 7,083 1,168 9,866 18,117 4,715,084 4,733,201 * Includes New York, New Jersey, Vermont and Massachusetts. |
Recorded Investment in Non-Accrual Loans by Loan Class | The following table presents the amortized cost basis in non-accrual loans by portfolio segment: As of June 30 2023 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 545 $ - $ 545 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 13,680 2,035 15,715 Home equity loans 240 46 286 Home equity lines of credit 2,252 177 2,429 Installment 124 - 124 Total non-accrual loans 16,841 2,572 19,413 Restructured real estate mortgages - 1 to 4 family 7 - 7 Total nonperforming loans $ 16,848 $ 2,572 $ 19,420 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 2022 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 199 $ - $ 199 Other 20 314 334 Real estate mortgage - 1 to 4 family: First mortgages 12,609 1,736 14,345 Home equity loans 153 42 195 Home equity lines of credit 2,187 117 2,304 Installment 23 83 106 Total non-accrual loans 15,191 2,292 17,483 Restructured real estate mortgages - 1 to 4 family 10 - 10 Total nonperforming loans $ 15,201 $ 2,292 $ 17,493 * Includes New York, New Jersey, Vermont and Massachusetts. |
Loans on Non-Accrual Status and Past Due More than 90 Days | The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing as of June 30, 2023 and December 31,2022: As of June 30, 2023 (dollars in thousands) Non-accrual With Non-accrual With Loans Past Due No Allowance for Allowance for Over 89 Days Credit Loss Credit Loss Still Accruing Commercial: Commercial real estate $ 545 $ - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 14,406 1,309 - Home equity loans 195 91 - Home equity lines of credit 2,349 80 - Installment 112 12 - Total loans, net $ 17,921 $ 1,492 - As of December (dollars in s) Non-accrual With Non-accrual With Loans Past Due No Allowance for Allowance for Over Days Credit Loss Credit Loss Still Accruing Commercial: Commercial real estate $ 160 $ 39 - Other 20 314 - Real estate mortgage - to family: First mortgages 13,502 843 - Home equity loans 129 66 - Home equity lines of credit 2,257 47 - Installment 82 24 - Total loans, net $ 16,150 $ 1,333 - |
Amortized Cost of Collateral-dependent Loans by Class | The following table presents the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of June 30, 2023 and December 31, 2022: As of June 30, Type of Collateral (dollars in thousands) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 656 - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 21,934 - - Home equity loans 299 - - Home equity lines of credit 3,313 - - Installment 112 - - Total $ 26,628 - - As of December Type of Collateral (dollars in s) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 312 - - Other 334 - - Real estate mortgage - to family: First mortgages 21,467 - - Home equity loans 236 - - Home equity lines of credit 3,264 - - Installment 82 - - Total $ 25,695 - - |
Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty and Financial Effects of Loan Modifications | The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below : For the three months ended June 30, 2023 New York and other states*: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - - First mortgages 238 0.01 % Home equity loans - - Home equity lines of credit 50 0.03 % Installment - - Total $ 288 0.01 % Florida: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - First mortgages 342 0.02 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 342 0.02 % Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 580 0.01 % Home equity loans - - Home equity lines of credit 50 0.02 % Installment - - Total $ 630 0.01 % * Includes New York, New Jersey, Vermont and Massachusetts. For the six months ended June 30, 2023 New York and other states*: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: - - First mortgages 238 0.01 % Home equity loans - - Home equity lines of credit 50 0.03 % Installment - - Total $ 288 0.01 % Florida: Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 342 0.02 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 342 0.02 % Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 580 0.01 % Home equity loans - - Home equity lines of credit 50 0.02 % Installment - - Total $ 630 0.01 % |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty | The following table describes the performance of loans that have been modified during the six months ended June 30, 2023: As of June 30, 2023 New York and other states*: 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 238 - - - 238 Home equity loans - - - - - Home equity lines of credit 50 - - - 50 Installment - - - - - Total $ 288 $ - $ - $ - $ 288 Florida: 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 342 - - - 342 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 342 $ - $ - $ - $ 342 Total 30-59 60-89 90+ Days Days Days (dollars in thousands) Current Past Due Past Due Past Due Total Commercial: Commercial real estate $ - $ - $ - $ - $ - Other - - - - - Real estate mortgage - 1 to 4 family: First mortgages 580 - - - 580 Home equity loans - - - - - Home equity lines of credit 50 - - - 50 Installment - - - - - Total $ 630 $ - $ - $ - $ 630 |
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty | The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty: For the three months ended June 30, 2023 Weighted New York and other states*: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 22 Home equity loans - Home equity lines of credit 18 Installment - Total $ 40 Weighted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 24 Home equity loans - Home equity lines of credit - Installment - Total $ 24 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 46 Home equity loans - Home equity lines of credit 18 Installment - Total $ 64 * Includes New York, New Jersey, Vermont and Massachusetts. For the six months ended June 30, 2023 Weighted New York and other states*: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 22 Home equity loans - Home equity lines of credit 18 Installment - Total $ 40 Weghted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 24 Home equity loans - Home equity lines of credit - Installment - Total $ 24 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 46 Home equity loans - Home equity lines of credit 18 Installment - Total $ 64 * Includes New York, New Jersey, Vermont and Massachusetts. |
Modified Loans by Class that were Determined to be TDR's | Prior to the adoption of ASU 2022-02, the company accounted for loan modifications as Troubled Debt Restructurings (TDRs) and the following table presents, by class, loans that were modified as TDR’s for the three and six months ended June 30, 2022: Three months ended June 30, 2022 New York and other states*: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages 1 73 73 Home equity loans - - - Home equity lines of credit - - - Total 1 $ 73 73 Florida: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages - - - Home equity loans - - - Home equity lines of credit - - - Total - $ - - * Includes New York, New Jersey, Vermont and Massachusetts. Six June 30, 2022 New York and other states*: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages 4 443 443 Home equity loans - - - Home equity lines of credit - - - Total 4 $ 443 443 Florida: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (dollars in thousands) Contracts Investment Investment Commercial: Commercial real estate - $ - - Real estate mortgage - 1 to 4 family: First mortgages - - - Home equity loans - - - Home equity lines of credit - - - Total - $ - - * Includes New York, New Jersey, Vermont and Massachusetts. |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value of Financial Instruments [Abstract] | |
Assets and Liabilities Measured at Fair Value on 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 2023 Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) U.S. government sponsored enterprises $ 113,570 $ - $ 113,570 $ - State and political subdivisions 34 - 34 - Mortgage backed securities and collateralized mortgage obligations - residential 243,444 - 243,444 - Corporate bonds 76,618 - 76,618 - Small Business Administration- guaranteed participation securities 18,382 - 18,382 - Other securities 656 25 631 - Total securities available for sale $ 452,704 $ 25 $ 452,679 $ - Fair Value Measurements at December 31, 2022 Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 118,187 $ - $ 118,187 $ - State and political subdivisions 34 - 34 - Mortgage backed securities and collateralized mortgage obligations - residential 260,316 - 260,316 - Corporate bonds 81,346 - 81,346 - Small Business Administration- guaranteed participation securities 20,977 - 20,977 - Other securities 653 - 653 - Total securities available for sale $ 481,513 $ - $ 481,513 $ - |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2023 Using: Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 1,412 $ - $ - $ 1,412 Sales comparison approach Adjustments for differences between comparable sales 1% - 80% (28 %) Fair Value Measurements at December 31, 2022 Using: Significant Quoted Prices in Other Significant Active Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs (dollars in thousands) Value (Level 1) (Level 2) (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 2,061 $ - $ - $ 2,061 Sales comparison approach Adjustments for differences between comparable sales 2% - 47% (18 %) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | In accordance with FASB Topic 825, Financial Instruments (“ASC 825”), the carrying amounts and estimated fair values of financial instruments, at June 30, 2023 and December 31, 2022 are as follows: (dollars in thousands) Fair Value Measurements at Carrying June 30 2023 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 603,357 603,357 - - 603,357 Securities available for sale 452,704 25 452,679 - 452,704 Held to maturity securities 7,043 - 6,926 - 6,926 Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,839,897 - - 4,428,975 4,428,975 Accrued interest receivable 11,762 100 1,734 9,928 11,762 Financial liabilities: Demand deposits 791,353 791,353 - - 791,353 Interest bearing deposits 4,467,094 3,024,135 1,418,561 - 4,442,696 Short-term borrowings 113,765 - 113,765 - 113,765 Accrued interest payable 2,046 208 1,838 - 2,046 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2022 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 650,599 650,599 - - 650,599 Securities available for sale 481,513 - 481,513 - 481,513 Held to maturity securities 7,707 - 7,580 - 7,580 Federal Reserve Bank and Federal Home Loan Bank stock 5,797 N/A N/A N/A N/A Net loans 4,687,169 - - 4,328,508 4,328,508 Accrued interest receivable 11,492 189 1,866 9,437 11,492 Financial liabilities: Demand deposits 838,147 838,147 - - 838,147 Interest bearing deposits 4,354,663 3,325,900 1,012,528 - 4,338,428 Short-term borrowings 122,700 - 122,700 - 122,700 Accrued interest payable 602 60 542 - 602 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax | The following is a summary of the accumulated other comprehensive (loss) income balances, net of tax: Three months ended June 30, 2023 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Three months ended Balance at (dollars in thousands) 4/1/2023 Reclassifications Loss 6/30/2023 6/30/2023 Net unrealized holding loss on securities available for sale, net of tax $ (28,370 ) $ (2,755 ) $ - $ (2,755 ) $ (31,125 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 7,588 - - - 7,588 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (2,593 ) - (82 ) (82 ) (2,675 ) Accumulated other comprehensive loss, net of tax $ (23,375 ) $ (2,755 ) $ (82 ) $ (2,837 ) $ (26,212 ) Three months ended June 30 2022 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Three months ended Balance at (dollars in thousands) 4/1/2022 Reclassifications Loss 6/30/2022 6/30/2022 Net unrealized holding loss on securities available for sale, net of tax $ (14,277 ) $ (6,829 ) $ - $ (6,829 ) $ (21,106 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,706 - - - 13,706 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (1,798 ) - (224 ) (224 ) (2,022 ) Accumulated other comprehensive loss, net of tax $ (2,369 ) $ (6,829 ) $ (224 ) $ (7,053 ) $ (9,422 ) Six months ended June 30, 2023 Other Amount Other Comprehensive reclassified Comprehensive Income- from Accumulated Income- Balance at Before Other Comprehensive Six months ended Balance at (dollars in thousands) 1/1/2023 Reclassifications Income 6/30/2023 6/30/2023 Net unrealized holding gain on securities available for sale, net of tax $ (32,271 ) $ 1,146 $ - $ 1,146 $ (31,125 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 7,588 - - - 7,588 Net change in net actuarial gain and prior service credit on pension and postretirement benefit plans, net of tax (2,511 ) - (164 ) (164 ) (2,675 ) Accumulated other comprehensive income (loss), net of tax $ (27,194 ) $ 1,146 $ (164 ) $ 982 $ (26,212 ) Six June 30 2022 Other Amount Other Comprehensive reclassified Comprehensive Loss- from Accumulated Loss- Balance at Before Other Comprehensive Six months ended Balance at (dollars in thousands) 1/1/2022 Reclassifications Loss 6/30/2022 6/30/2022 Net unrealized holding loss on securities available for sale, net of tax $ (26 ) $ (21,080 ) $ - $ (21,080 ) $ (21,106 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,706 - - - 13,706 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (1,533 ) - (489 ) (489 ) (2,022 ) Accumulated other comprehensive income (loss), net of tax $ 12,147 $ (21,080 ) $ (489 ) $ (21,569 ) $ (9,422 ) |
Reclassifications out of Accumulated Other Comprehensive Loss | The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022: (dollars in thousands) Three months ended Six June 30 June 30 2023 2022 2023 2022 Affected Line Item in Financial Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 114 $ 426 $ 228 $ 504 Salaries and employee benefits Amortization of prior service (cost) credit (3 ) (123 ) (6 ) 157 Salaries and employee benefits Income tax benefit (29 ) (79 ) (58 ) (172 ) Income taxes Net of tax 82 224 164 489 Total reclassifications, net of tax $ 82 $ 224 $ 164 $ 489 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Revenue from Contracts with Customers [Abstract] | |
Source of Non-Interest Income | All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within Non-Interest Income. The following table presents the Company’s sources of Non-Interest Income for the three months and six months ended June 30, 2023 and 2022. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended Six June 30 June 30 2023 2022 2023 2022 Non-interest income Service Charges on Deposits Overdraft fees $ 723 647 $ 1,403 1,293 Other 554 495 1,086 972 Interchange Income 1,628 1,544 3,107 3,246 Wealth management fees 1,412 1,996 3,186 3,829 Other (a) 281 234 485 759 Total non-interest income $ 4,598 4,916 $ 9,267 10,099 (a) Not within the scope of ASC 606. |
Operating Leases (Tables)
Operating Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Operating Leases [Abstract] | |
Other Information Related to Leases | Other information related to leases was as follows: (dollars in thousands) Three months ended June 30 2023 2022 Operating lease cost $ 2,037 2,071 Variable lease cost 619 545 Total Lease costs $ 2,656 2,616 (dollars in thousands) Six months ended June 30 2023 2022 Operating lease cost $ 4,087 4,123 Variable lease cost 1,204 1,141 Total Lease costs $ 5,291 5,264 |
Supplemental Cash Flows Information | ( Six months ended June 30, 2023 2022 Supplemental cash flows information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,165 4,186 Right-of-use assets obtained in exchange for lease obligations: 1,653 2,484 Weighted average remaining lease term 8.7 9.2 Weighted average discount rate 3.05 % 2.97 % |
Future Minimum Lease Payments | Future minimum lease payments under non-cancellable leases as of June 30, 2023 were as follows: (dollars in thousands) Year ending December 31, 2023 (a) $ 4,212 2024 8,379 2025 7,978 2026 7,004 2027 5,767 Thereafter 20,522 Total lease payments $ 53,862 Less: Interest 6,690 Present value of lease liabilities $ 47,172 (a) Excluding the six months ended June 30, 2023. |
Regulatory Capital Requiremen_2
Regulatory Capital Requirements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Regulatory Capital Requirements [Abstract] | |
Actual Capital Amounts and Ratios | The Bank and the Company reported the following capital ratios as of June 30 : (Bank Only) Minimum for As of June 30, 2023 Well Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 627,958 10.370 % 5.000 % 4.000 % Common equity tier 1 capital 627,958 18.477 6.500 7.000 Tier 1 risk-based capital 627,958 18.477 8.000 8.500 Total risk-based capital 670,522 19.730 10.000 10.500 As of December 31, 2022 Well Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 609,998 10.116 % 5.000 % 4.000 % Common equity tier 1 capital 609,998 18.431 6.500 7.000 Tier 1 risk-based capital 609,998 18.431 8.000 8.500 Total risk-based capital 651,462 19.684 10.000 10.500 (Consolidated) As of June 30, 2023 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 647,048 10.682 % 4.000 % Common equity tier 1 capital 647,048 19.034 7.000 Tier 1 risk-based capital 647,048 19.034 8.500 Total risk-based capital 689,629 20.286 10.500 As of December 31, 2022 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 626,628 10.390 % 4.000 % Common equity Tier 1 capital 626,628 18.929 7.000 Tier 1 risk-based capital 626,628 18.929 8.500 Total risk-based capital 668,102 20.182 10.500 (1) Federal regulatory minimum requirements to be considered to be Well Capitalized and Adequately Capitalized (2) The June 30, 2023 and December 31, 2022 common equity tier 1, tier 1 risk-based, and total risk-based capital ratios include a capital conservation buffer of 2.50 percent |
Financial Statement Presentat_2
Financial Statement Presentation (Details) | 3 Months Ended |
Mar. 31, 2023 Bank | |
Financial Statement Presentation [Abstract] | |
Number of banks voluntarily dissolving | 1 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Reconciliation of the component parts of earnings per share [Abstract] | ||||||
Net income | $ 16,372 | $ 17,746 | $ 17,871 | $ 17,089 | $ 34,118 | $ 34,960 |
Weighted average common shares (in shares) | 19,024 | 19,153 | 19,024 | 19,185 | ||
Stock Options (in shares) | 0 | 0 | 1 | 0 | ||
Weighted average common shares including potential dilutive shares (in shares) | 19,024 | 19,153 | 19,025 | 19,185 | ||
Basic EPS (in dollars per share) | $ 0.86 | $ 0.93 | $ 1.79 | $ 1.82 | ||
Diluted EPS (in dollars per share) | $ 0.86 | $ 0.93 | $ 1.79 | $ 1.82 | ||
Stock Options [Member] | ||||||
Antidilutive Securities [Abstract] | ||||||
Number of anti-dilutive stock options excluded from diluted earnings per share (in shares) | 77 | 89 | 52 | 60 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
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 | $ 0 | $ 0 | 0 | $ 0 |
Interest cost | 304 | 221 | 606 | 444 |
Expected return on plan assets | (661) | (796) | (1,341) | (1,613) |
Amortization of net gain | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | 0 | 0 | 0 | 0 |
Net periodic benefit | (357) | (575) | (735) | (1,169) |
Other Postretirement Benefits [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 3 | (9) | 5 | 9 |
Interest cost | 66 | 51 | 132 | 103 |
Expected return on plan assets | (290) | (333) | (579) | (666) |
Amortization of net gain | (114) | (426) | (228) | (504) |
Amortization of prior service cost (credit) | 3 | 123 | 6 | (157) |
Net periodic benefit | $ (332) | $ (594) | $ (664) | $ (1,215) |
Investment Securities, Availabl
Investment Securities, Available-for-sale Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | $ 494,688 | $ 525,030 |
Gross Unrealized Gains | 13 | 35 |
Gross Unrealized Losses | 41,997 | 43,552 |
Fair Value | 452,704 | 481,513 |
U. S. Government Sponsored Enterprises [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 119,175 | 124,123 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized Losses | 5,605 | 5,937 |
Fair Value | 113,570 | 118,187 |
State and Political Subdivisions [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 34 | 34 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 34 | 34 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 273,955 | 291,431 |
Gross Unrealized Gains | 13 | 34 |
Gross Unrealized Losses | 30,524 | 31,149 |
Fair Value | 243,444 | 260,316 |
Corporate Bonds [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 80,394 | 85,641 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 3,776 | 4,295 |
Fair Value | 76,618 | 81,346 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 20,444 | 23,115 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 2,062 | 2,138 |
Fair Value | 18,382 | 20,977 |
Other [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 686 | 686 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 30 | 33 |
Fair Value | $ 656 | $ 653 |
Investment Securities, Availa_2
Investment Securities, Available-for-sale Securities, Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized Cost [Abstract] | ||
Due in one year or less | $ 55,284 | |
Due after one year through five years | 145,005 | |
Amortized Cost | 494,688 | $ 525,030 |
Fair Value [Abstract] | ||
Due in one year or less | 53,461 | |
Due in one year through five years | 137,417 | |
Fair Value | 452,704 | 481,513 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 273,955 | |
Amortized Cost | 273,955 | 291,431 |
Fair Value [Abstract] | ||
Securities, fair value | 243,444 | |
Fair Value | 243,444 | 260,316 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 20,444 | |
Amortized Cost | 20,444 | 23,115 |
Fair Value [Abstract] | ||
Securities, fair value | 18,382 | |
Fair Value | $ 18,382 | $ 20,977 |
Investment Securities, Availa_3
Investment Securities, Available-for-sale Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | $ 102,731 | $ 276,277 |
12 months or more - Fair Value | 347,405 | 197,631 |
Total - Fair Value | 450,136 | 473,908 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 4,229 | 16,767 |
12 months or more - Gross Unrealized Loss | 37,768 | 26,785 |
Total - Gross Unrealized Loss | 41,997 | 43,552 |
Available-for-sale, allowance for credit loss | 0 | |
U. S. Government Sponsored Enterprises [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 52,728 | 57,849 |
12 months or more - Fair Value | 60,841 | 55,337 |
Total - Fair Value | 113,569 | 113,186 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 1,459 | 1,290 |
12 months or more - Gross Unrealized Loss | 4,146 | 4,647 |
Total - Gross Unrealized Loss | 5,605 | 5,937 |
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 | 40,282 | 164,772 |
12 months or more - Fair Value | 200,666 | 93,009 |
Total - Fair Value | 240,948 | 257,781 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 2,477 | 13,010 |
12 months or more - Gross Unrealized Loss | 28,047 | 18,139 |
Total - Gross Unrealized Loss | 30,524 | 31,149 |
Corporate Bonds [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 9,721 | 52,805 |
12 months or more - Fair Value | 66,897 | 28,542 |
Total - Fair Value | 76,618 | 81,347 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 293 | 2,395 |
12 months or more - Gross Unrealized Loss | 3,483 | 1,900 |
Total - Gross Unrealized Loss | 3,776 | 4,295 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 0 | 802 |
12 months or more - Fair Value | 18,382 | 20,175 |
Total - Fair Value | 18,382 | 20,977 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 0 | 71 |
12 months or more - Gross Unrealized Loss | 2,062 | 2,067 |
Total - Gross Unrealized Loss | 2,062 | 2,138 |
Other [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 0 | 49 |
12 months or more - Fair Value | 619 | 568 |
Total - Fair Value | 619 | 617 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 0 | 1 |
12 months or more - Gross Unrealized Loss | 30 | 32 |
Total - Gross Unrealized Loss | $ 30 | $ 33 |
Investment Securities, Availa_4
Investment Securities, Available-for-sale Securities, Transaction Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses [Abstract] | ||||
Proceeds from sales | $ 0 | $ 0 | $ 0 | $ 0 |
Proceeds from calls/paydowns | 14,811 | 25,415 | 29,469 | 43,338 |
Proceeds from maturities | 5,000 | 5,050 | 5,000 | 10,050 |
Gross realized gains | 0 | 0 | 0 | 0 |
Gross realized losses | 0 | 0 | 0 | 0 |
Sales and transfers of available for sale securities | $ 0 | $ 0 | $ 0 | $ 0 |
Investment Securities, Held-to-
Investment Securities, Held-to-maturity Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | $ 7,043 | $ 7,707 |
Gross Unrecognized Gains | 57 | 90 |
Gross Unrecognized Losses | 174 | 217 |
Fair Value | 6,926 | 7,580 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | 7,043 | 7,707 |
Gross Unrecognized Gains | 57 | 90 |
Gross Unrecognized Losses | 174 | 217 |
Fair Value | $ 6,926 | $ 7,580 |
Investment Securities, Held-t_2
Investment Securities, Held-to-maturity Securities, Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized Cost [Abstract] | ||
Amortized Cost | $ 7,043 | $ 7,707 |
Fair Value [Abstract] | ||
Fair Value | 6,926 | 7,580 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 7,043 | |
Amortized Cost | 7,043 | 7,707 |
Fair Value [Abstract] | ||
Securities, fair value | 6,926 | |
Fair Value | $ 6,926 | $ 7,580 |
Investment Securities, Held-t_3
Investment Securities, Held-to-maturity Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Unrecognized Loss Position, Fair Value [Abstract] | |||||
Less than 12 months - Fair value | $ 349 | $ 349 | $ 3,327 | ||
More than 12 months - Fair value | 2,900 | 2,900 | 258 | ||
Fair Value | 3,249 | 3,249 | 3,585 | ||
Unrecognized Loss Position, Unrealized Losses [Abstract] | |||||
Less than 12 months - Gross Unrecognized Loss | 8 | 8 | 206 | ||
More than 12 months - Gross Unrecognized Loss | 166 | 166 | 11 | ||
Gross Unrecognized Losses | 174 | 174 | 217 | ||
Sales and transfers of held to maturity securities | 0 | $ 0 | 0 | $ 0 | |
Held-to-maturity, allowance for credit loss | 0 | 0 | |||
Held to maturity securities on non-accrual status | 0 | 0 | |||
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | |||||
Unrecognized Loss Position, Fair Value [Abstract] | |||||
Less than 12 months - Fair value | 349 | 349 | 3,327 | ||
More than 12 months - Fair value | 2,900 | 2,900 | 258 | ||
Fair Value | 3,249 | 3,249 | 3,585 | ||
Unrecognized Loss Position, Unrealized Losses [Abstract] | |||||
Less than 12 months - Gross Unrecognized Loss | 8 | 8 | 206 | ||
More than 12 months - Gross Unrecognized Loss | 166 | 166 | 11 | ||
Gross Unrecognized Losses | $ 174 | $ 174 | $ 217 |
Loan Portfolio and Allowance _3
Loan Portfolio and Allowance for Credit Losses, Recorded Investment in Loans by Loan Class (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Loans and Leases Receivable [Abstract] | ||||||
Total loans | $ 4,886,811 | $ 4,733,201 | ||||
Allowance for credit losses on loans | 46,914 | $ 46,685 | 46,032 | $ 45,285 | $ 46,178 | |
Net loans | 4,839,897 | 4,687,169 | ||||
New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 3,221,910 | 3,219,914 | |||
Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 1,664,901 | 1,513,287 | ||||
Real Estate Construction Loans [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 27,000 | 36,400 | ||||
Residential Borrowers [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 6,300 | 14,100 | ||||
Commercial Borrowers Residential Purpose [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 20,700 | 22,300 | ||||
Commercial [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 251,434 | 231,011 | ||||
Allowance for credit losses on loans | 2,610 | 2,708 | 2,596 | 2,274 | 2,177 | |
Commercial [Member] | Commercial Real Estate [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 229,548 | 209,922 | ||||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 190,361 | 177,371 | |||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 39,187 | 32,551 | ||||
Commercial [Member] | Other [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 21,886 | 21,089 | ||||
Commercial [Member] | Other [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 21,566 | 20,221 | |||
Commercial [Member] | Other [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 320 | 868 | ||||
Commercial [Member] | PPP Loans [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 760 | 1,000 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 4,618,981 | 4,489,883 | ||||
Allowance for credit losses on loans | 44,067 | 43,766 | 43,271 | 42,880 | 43,931 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 4,252,144 | 4,146,902 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 2,755,040 | 2,776,989 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 1,497,104 | 1,369,913 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 57,861 | 56,549 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 44,841 | 43,999 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 13,020 | 12,550 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 308,976 | 286,432 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 198,067 | 191,926 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 110,909 | 94,506 | ||||
Installment [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | 16,396 | 12,307 | ||||
Allowance for credit losses on loans | 237 | $ 211 | 165 | $ 131 | $ 70 | |
Installment [Member] | New York and Other States [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | [1] | 12,035 | 9,408 | |||
Installment [Member] | Florida [Member] | ||||||
Loans and Leases Receivable [Abstract] | ||||||
Total loans | $ 4,361 | $ 2,899 | ||||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _4
Loan Portfolio and Allowance for Credit Losses, Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | $ 44,267 | $ 44,267 | ||||
Balance at beginning of period | $ 46,685 | $ 46,178 | $ 46,032 | |||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 91 | 30 | 139 | 77 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 320 | 137 | 421 | 242 | ||
Net loans (recoveries) charged off | (229) | (107) | (282) | (165) | ||
(Credit) provision for credit losses | 0 | (1,000) | 600 | (1,500) | ||
Balance at end of period | 46,914 | 45,285 | 46,914 | 45,285 | 46,032 | |
Benefit for credit losses | (500) | (491) | (200) | (691) | ||
Credit losses on unfunded commitments | 500 | 509 | 800 | 809 | ||
New York and Other States [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | [1] | 51 | 30 | 68 | 77 | |
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | [1] | 320 | 137 | 396 | 242 | |
Florida [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 40 | 0 | 71 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 0 | 0 | 25 | 0 | ||
Commercial [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 3,135 | 3,135 | ||||
Balance at beginning of period | 2,708 | 2,177 | 2,596 | |||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 0 | 4 | 0 | 40 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 129 | 4 | 129 | 4 | ||
Net loans (recoveries) charged off | (129) | 0 | (129) | 36 | ||
(Credit) provision for credit losses | (227) | 97 | (115) | 161 | ||
Balance at end of period | 2,610 | 2,274 | 2,610 | 2,274 | 2,596 | |
Commercial [Member] | New York and Other States [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | [1] | 0 | 4 | 0 | 40 | |
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | [1] | 129 | 4 | 129 | 4 | |
Commercial [Member] | Florida [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 0 | 0 | 0 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 0 | 0 | 0 | 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 40,689 | 40,689 | ||||
Balance at beginning of period | 43,766 | 43,931 | 43,271 | |||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 22 | 12 | 22 | 12 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 183 | 131 | 261 | 228 | ||
Net loans (recoveries) charged off | (161) | (119) | (239) | (216) | ||
(Credit) provision for credit losses | 140 | (1,170) | 557 | (1,742) | ||
Balance at end of period | 44,067 | 42,880 | 44,067 | 42,880 | 43,271 | |
Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | [1] | 22 | 12 | 22 | 12 | |
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | [1] | 183 | 131 | 236 | 228 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Florida [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 0 | 0 | 0 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 0 | 0 | 25 | 0 | ||
Installment [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 443 | 443 | ||||
Balance at beginning of period | 211 | 70 | 165 | |||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 69 | 14 | 117 | 25 | 88 | |
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | 8 | 2 | 31 | 10 | ||
Net loans (recoveries) charged off | 61 | 12 | 86 | 15 | ||
(Credit) provision for credit losses | 87 | 73 | 158 | 81 | ||
Balance at end of period | 237 | 131 | 237 | 131 | 165 | |
Installment [Member] | New York and Other States [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | [1] | 29 | 14 | 46 | 25 | |
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | [1] | 8 | 2 | 31 | 10 | |
Installment [Member] | Florida [Member] | ||||||
Loans charged off [Abstract] | ||||||
Total loan charge offs | 40 | 0 | 71 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||||
Total recoveries | $ 0 | $ 0 | $ 0 | 0 | ||
ASU 2016-13 [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 46,620 | 46,620 | ||||
ASU 2016-13 [Member] | Commercial [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 2,149 | 2,149 | ||||
ASU 2016-13 [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 44,406 | 44,406 | ||||
ASU 2016-13 [Member] | Installment [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 65 | 65 | ||||
ASU 2016-13 [Member] | Impact of Adoption [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 2,353 | 2,353 | ||||
ASU 2016-13 [Member] | Impact of Adoption [Member] | Commercial [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | (986) | (986) | ||||
ASU 2016-13 [Member] | Impact of Adoption [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | 3,717 | 3,717 | ||||
ASU 2016-13 [Member] | Impact of Adoption [Member] | Installment [Member] | ||||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||||
Balance at beginning of period | $ (378) | $ (378) | ||||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _5
Loan Portfolio and Allowance for Credit Losses, Based on Impairment Review Method (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 |
Ending allowance balance attributable to loans [Abstract] | |||||
Individually evaluated for impairment | $ 0 | $ 0 | |||
Collectively evaluated for impairment | 46,914 | 46,032 | |||
Total ending allowance balance | 46,914 | $ 46,685 | 46,032 | $ 45,285 | $ 46,178 |
Loans [Abstract] | |||||
Individually evaluated for impairment | 26,628 | 25,695 | |||
Collectively evaluated for impairment | 4,860,183 | 4,707,506 | |||
Total loans | 4,886,811 | 4,733,201 | |||
Commercial Loans [Member] | |||||
Ending allowance balance attributable to loans [Abstract] | |||||
Individually evaluated for impairment | 0 | 0 | |||
Collectively evaluated for impairment | 2,610 | 2,596 | |||
Total ending allowance balance | 2,610 | 2,708 | 2,596 | 2,274 | 2,177 |
Loans [Abstract] | |||||
Individually evaluated for impairment | 970 | 646 | |||
Collectively evaluated for impairment | 250,464 | 230,365 | |||
Total loans | 251,434 | 231,011 | |||
1 to 4 Family Residential Real Estate [Member] | |||||
Ending allowance balance attributable to loans [Abstract] | |||||
Individually evaluated for impairment | 0 | 0 | |||
Collectively evaluated for impairment | 44,067 | 43,271 | |||
Total ending allowance balance | 44,067 | 43,766 | 43,271 | 42,880 | 43,931 |
Loans [Abstract] | |||||
Individually evaluated for impairment | 25,546 | 24,967 | |||
Collectively evaluated for impairment | 4,593,435 | 4,464,916 | |||
Total loans | 4,618,981 | 4,489,883 | |||
Installment Loans [Member] | |||||
Ending allowance balance attributable to loans [Abstract] | |||||
Individually evaluated for impairment | 0 | 0 | |||
Collectively evaluated for impairment | 237 | 165 | |||
Total ending allowance balance | 237 | $ 211 | 165 | $ 131 | $ 70 |
Loans [Abstract] | |||||
Individually evaluated for impairment | 112 | 82 | |||
Collectively evaluated for impairment | 16,284 | 12,225 | |||
Total loans | $ 16,396 | $ 12,307 |
Loan Portfolio and Allowance _6
Loan Portfolio and Allowance for Credit Losses, Allowance for Credit Losses on Unfunded Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | $ 46,685 | $ 46,178 | $ 46,032 | |
Balance at beginning of period | $ 44,267 | |||
Credit provision for credit losses | 500 | 509 | 800 | 809 |
Balance at end of period | 46,914 | 45,285 | 46,914 | 45,285 |
Unfunded Loan Commitment [Member] | ||||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | 2,612 | 2,653 | 2,912 | |
Balance at beginning of period | 18 | |||
Credit provision for credit losses | (500) | 509 | (800) | 809 |
Balance at end of period | $ 2,112 | $ 3,162 | $ 2,112 | 3,162 |
ASU 2016-13 [Member] | ||||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | 46,620 | |||
ASU 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | 2,353 | |||
ASU 2016-13 [Member] | Impact of Adoption [Member] | ||||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | 2,353 | |||
ASU 2016-13 [Member] | Impact of Adoption [Member] | Unfunded Loan Commitment [Member] | ||||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||||
Balance at beginning of period | $ 2,335 |
Loan Portfolio and Allowance _7
Loan Portfolio and Allowance for Credit Losses, Risk Category of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Credit Risk Profile, Segregated by Class [Abstract] | |||||
Total loans | $ 4,886,811 | $ 4,886,811 | $ 4,733,201 | ||
Current-period Gross writeoffs | 91 | $ 30 | 139 | $ 77 | |
Commercial [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
Total loans | 251,434 | 251,434 | 231,011 | ||
Current-period Gross writeoffs | 0 | 4 | 0 | 40 | |
Commercial [Member] | Commercial Real Estate [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 30,169 | 30,169 | 79,430 | ||
2022/2021 | 82,912 | 82,912 | 29,991 | ||
2021/2020 | 25,662 | 25,662 | 18,883 | ||
2020/2019 | 17,805 | 17,805 | 22,790 | ||
2019/2018 | 20,990 | 20,990 | 16,969 | ||
Prior | 44,839 | 44,839 | 33,837 | ||
Revolving Loans Amortized Cost Basis | 7,171 | 7,171 | 8,022 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 229,548 | 229,548 | 209,922 | ||
2023/2022 | 0 | 0 | |||
2022/2021 | 0 | 0 | |||
2021/2020 | 0 | 0 | |||
2020/2019 | 0 | 0 | |||
2019/2018 | 0 | 0 | |||
Prior | 0 | 40 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 0 | 40 | |||
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 30,169 | 30,169 | 79,430 | ||
2022/2021 | 82,912 | 82,912 | 29,991 | ||
2021/2020 | 25,662 | 25,662 | 18,708 | ||
2020/2019 | 17,642 | 17,642 | 22,790 | ||
2019/2018 | 20,990 | 20,990 | 16,598 | ||
Prior | 43,174 | 43,174 | 32,666 | ||
Revolving Loans Amortized Cost Basis | 7,171 | 7,171 | 8,022 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 227,720 | 227,720 | 208,205 | ||
Commercial [Member] | Commercial Real Estate [Member] | Special Mention [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 62 | ||
2020/2019 | 53 | 53 | 0 | ||
2019/2018 | 0 | 0 | 243 | ||
Prior | 234 | 234 | 0 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 287 | 287 | 305 | ||
Commercial [Member] | Commercial Real Estate [Member] | Substandard [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 113 | ||
2020/2019 | 110 | 110 | 0 | ||
2019/2018 | 0 | 0 | 128 | ||
Prior | 1,431 | 1,431 | 1,171 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 1,541 | 1,541 | 1,412 | ||
Commercial [Member] | Other [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 3,062 | 3,062 | 2,972 | ||
2022/2021 | 4,085 | 4,085 | 3,187 | ||
2021/2020 | 2,725 | 2,725 | 2,273 | ||
2020/2019 | 1,783 | 1,783 | 590 | ||
2019/2018 | 510 | 510 | 674 | ||
Prior | 2,790 | 2,790 | 2,446 | ||
Revolving Loans Amortized Cost Basis | 6,931 | 6,931 | 8,947 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 21,886 | 21,886 | 21,089 | ||
2023/2022 | 0 | 0 | |||
2022/2021 | 0 | 0 | |||
2021/2020 | 0 | 0 | |||
2020/2019 | 0 | 0 | |||
2019/2018 | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 0 | 0 | |||
Commercial [Member] | Other [Member] | Pass [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 3,062 | 3,062 | 2,972 | ||
2022/2021 | 4,085 | 4,085 | 2,848 | ||
2021/2020 | 2,394 | 2,394 | 2,273 | ||
2020/2019 | 1,783 | 1,783 | 590 | ||
2019/2018 | 510 | 510 | 674 | ||
Prior | 2,692 | 2,692 | 2,348 | ||
Revolving Loans Amortized Cost Basis | 6,931 | 6,931 | 8,908 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 21,457 | 21,457 | 20,613 | ||
Commercial [Member] | Other [Member] | Special Mention [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 0 | 0 | 0 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 39 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 0 | 0 | 39 | ||
Commercial [Member] | Other [Member] | Substandard [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 339 | ||
2021/2020 | 331 | 331 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 98 | 98 | 98 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 429 | 429 | 437 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
Total loans | 4,618,981 | 4,618,981 | 4,489,883 | ||
Current-period Gross writeoffs | 22 | 12 | 22 | 12 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 229,280 | 229,280 | 557,981 | ||
2022/2021 | 574,375 | 574,375 | 934,250 | ||
2021/2020 | 906,150 | 906,150 | 784,592 | ||
2020/2019 | 758,511 | 758,511 | 368,981 | ||
2019/2018 | 355,786 | 355,786 | 258,277 | ||
Prior | 1,425,596 | 1,425,596 | 1,241,349 | ||
Revolving Loans Amortized Cost Basis | 2,446 | 2,446 | 1,472 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 4,252,144 | 4,252,144 | 4,146,902 | ||
2023/2022 | 0 | 0 | |||
2022/2021 | 0 | 0 | |||
2021/2020 | 0 | 0 | |||
2020/2019 | 0 | 0 | |||
2019/2018 | 0 | 0 | |||
Prior | 22 | 5 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 22 | 5 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Performing [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 229,280 | 229,280 | 557,981 | ||
2022/2021 | 574,375 | 574,375 | 933,754 | ||
2021/2020 | 905,759 | 905,759 | 784,511 | ||
2020/2019 | 757,908 | 757,908 | 368,137 | ||
2019/2018 | 354,492 | 354,492 | 257,926 | ||
Prior | 1,412,169 | 1,412,169 | 1,228,776 | ||
Revolving Loans Amortized Cost Basis | 2,446 | 2,446 | 1,472 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 4,236,429 | 4,236,429 | 4,132,557 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Nonperforming [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 496 | ||
2021/2020 | 391 | 391 | 81 | ||
2020/2019 | 603 | 603 | 844 | ||
2019/2018 | 1,294 | 1,294 | 351 | ||
Prior | 13,427 | 13,427 | 12,573 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 15,715 | 15,715 | 14,345 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 5,673 | 5,673 | 6,863 | ||
2022/2021 | 6,384 | 6,384 | 9,124 | ||
2021/2020 | 8,452 | 8,452 | 6,322 | ||
2020/2019 | 6,028 | 6,028 | 7,588 | ||
2019/2018 | 7,059 | 7,059 | 5,306 | ||
Prior | 24,265 | 24,265 | 21,346 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 57,861 | 57,861 | 56,549 | ||
2023/2022 | 0 | 0 | |||
2022/2021 | 0 | 0 | |||
2021/2020 | 0 | 0 | |||
2020/2019 | 0 | 0 | |||
2019/2018 | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 0 | 0 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Performing [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 5,673 | 5,673 | 6,863 | ||
2022/2021 | 6,384 | 6,384 | 9,124 | ||
2021/2020 | 8,452 | 8,452 | 6,322 | ||
2020/2019 | 6,028 | 6,028 | 7,588 | ||
2019/2018 | 7,059 | 7,059 | 5,240 | ||
Prior | 23,979 | 23,979 | 21,217 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 57,575 | 57,575 | 56,354 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Nonperforming [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 0 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 66 | ||
Prior | 286 | 286 | 129 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 0 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 286 | 286 | 195 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 781 | 781 | 1,369 | ||
2022/2021 | 770 | 770 | 1,253 | ||
2021/2020 | 409 | 409 | 740 | ||
2020/2019 | 529 | 529 | 52 | ||
2019/2018 | 42 | 42 | 100 | ||
Prior | 18,982 | 18,982 | 20,488 | ||
Revolving Loans Amortized Cost Basis | 287,463 | 287,463 | 262,430 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 308,976 | 308,976 | 286,432 | ||
2023/2022 | 0 | 0 | |||
2022/2021 | 0 | 0 | |||
2021/2020 | 0 | 0 | |||
2020/2019 | 0 | 0 | |||
2019/2018 | 0 | 0 | |||
Prior | 0 | 19 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 0 | 19 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Performing [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 781 | 781 | 1,369 | ||
2022/2021 | 770 | 770 | 1,246 | ||
2021/2020 | 409 | 409 | 740 | ||
2020/2019 | 529 | 529 | 52 | ||
2019/2018 | 42 | 42 | 100 | ||
Prior | 16,861 | 16,861 | 18,377 | ||
Revolving Loans Amortized Cost Basis | 287,155 | 287,155 | 262,244 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 306,547 | 306,547 | 284,128 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Nonperforming [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 0 | 0 | 0 | ||
2022/2021 | 0 | 0 | 7 | ||
2021/2020 | 0 | 0 | 0 | ||
2020/2019 | 0 | 0 | 0 | ||
2019/2018 | 0 | 0 | 0 | ||
Prior | 2,121 | 2,121 | 2,111 | ||
Revolving Loans Amortized Cost Basis | 308 | 308 | 186 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 2,429 | 2,429 | 2,304 | ||
Installment [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 5,971 | 5,971 | 6,405 | ||
2022/2021 | 5,683 | 5,683 | 2,512 | ||
2021/2020 | 1,936 | 1,936 | 805 | ||
2020/2019 | 550 | 550 | 774 | ||
2019/2018 | 477 | 477 | 374 | ||
Prior | 747 | 747 | 309 | ||
Revolving Loans Amortized Cost Basis | 1,032 | 1,032 | 1,128 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 16,396 | 16,396 | 12,307 | ||
2023/2022 | 0 | 1 | |||
2022/2021 | 57 | 47 | |||
2021/2020 | 37 | 22 | |||
2020/2019 | 6 | 7 | |||
2019/2018 | 0 | 2 | |||
Prior | 17 | 9 | |||
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |||
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |||
Current-period Gross writeoffs | 69 | $ 14 | 117 | $ 25 | 88 |
Installment [Member] | Performing [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 5,970 | 5,970 | 6,385 | ||
2022/2021 | 5,683 | 5,683 | 2,495 | ||
2021/2020 | 1,888 | 1,888 | 805 | ||
2020/2019 | 550 | 550 | 709 | ||
2019/2018 | 404 | 404 | 374 | ||
Prior | 745 | 745 | 308 | ||
Revolving Loans Amortized Cost Basis | 1,032 | 1,032 | 1,125 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | 16,272 | 16,272 | 12,201 | ||
Installment [Member] | Nonperforming [Member] | |||||
Credit Risk Profile, Segregated by Class [Abstract] | |||||
2023/2022 | 1 | 1 | 20 | ||
2022/2021 | 0 | 0 | 17 | ||
2021/2020 | 48 | 48 | 0 | ||
2020/2019 | 0 | 0 | 65 | ||
2019/2018 | 73 | 73 | 0 | ||
Prior | 2 | 2 | 1 | ||
Revolving Loans Amortized Cost Basis | 0 | 0 | 3 | ||
Revolving Loan Converted to Term | 0 | 0 | 0 | ||
Total loans | $ 124 | $ 124 | $ 106 |
Loan Portfolio and Allowance _8
Loan Portfolio and Allowance for Credit Losses, Past Due (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | ||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | $ 4,886,811 | $ 4,733,201 | |
Number of days past due | 90 days | 90 days | |
Loans that are 90 days past due and still accruing interest | $ 0 | $ 0 | |
New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 3,221,910 | 3,219,914 |
Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,664,901 | 1,513,287 | |
Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 15,885 | 18,117 | |
Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 13,548 | 14,609 |
Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 2,337 | 3,508 | |
30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,006 | 7,083 | |
30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 3,390 | 5,619 |
30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 616 | 1,464 | |
60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 455 | 1,168 | |
60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 401 | 925 |
60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 54 | 243 | |
90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 11,424 | 9,866 | |
90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 9,757 | 8,065 |
90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,667 | 1,801 | |
Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,870,926 | 4,715,084 | |
Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 3,208,362 | 3,205,305 |
Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,662,564 | 1,509,779 | |
Commercial [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 251,434 | 231,011 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 229,548 | 209,922 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 190,361 | 177,371 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 39,187 | 32,551 | |
Commercial [Member] | Commercial Real Estate [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 525 | 161 | |
Commercial [Member] | Commercial Real Estate [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 525 | 161 |
Commercial [Member] | Commercial Real Estate [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 0 | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 0 | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 525 | 161 | |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 525 | 161 |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 229,023 | 209,761 | |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 189,836 | 177,210 |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 39,187 | 32,551 | |
Commercial [Member] | Other [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 21,886 | 21,089 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 21,566 | 20,221 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 320 | 868 | |
Commercial [Member] | Other [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 355 | 352 | |
Commercial [Member] | Other [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 41 | 38 |
Commercial [Member] | Other [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 314 | 314 | |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 33 | 18 | |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 33 | 18 |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 8 | 0 | |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 8 | 0 |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 314 | 334 | |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 0 | 20 |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 314 | 314 | |
Commercial [Member] | Other [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 21,531 | 20,737 | |
Commercial [Member] | Other [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 21,525 | 20,183 |
Commercial [Member] | Other [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 6 | 554 | |
Real Estate Mortgage - 1 to 4 Family [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,618,981 | 4,489,883 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,252,144 | 4,146,902 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 2,755,040 | 2,776,989 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,497,104 | 1,369,913 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 13,108 | 15,216 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 11,260 | 12,386 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,848 | 2,830 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 3,187 | 5,445 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 2,681 | 4,262 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 506 | 1,183 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 262 | 1,164 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 227 | 921 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 35 | 243 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 9,659 | 8,607 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 8,352 | 7,203 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,307 | 1,404 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,239,036 | 4,131,686 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 2,743,780 | 2,764,603 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,495,256 | 1,367,083 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 57,861 | 56,549 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 44,841 | 43,999 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 13,020 | 12,550 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 319 | 401 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 319 | 350 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 51 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 65 | 334 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 65 | 283 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 51 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 96 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 96 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 158 | 67 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 158 | 67 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 57,542 | 56,148 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 44,522 | 43,649 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 13,020 | 12,499 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 308,976 | 286,432 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 198,067 | 191,926 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 110,909 | 94,506 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,369 | 1,793 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 1,255 | 1,569 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 114 | 224 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 669 | 1,202 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 574 | 978 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 95 | 224 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 44 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 25 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 19 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 656 | 591 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 656 | 591 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 307,607 | 284,639 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 196,812 | 190,357 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 110,795 | 94,282 | |
Installment [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 16,396 | 12,307 | |
Loans that are 90 days past due and still accruing interest | 0 | 0 | |
Installment [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 12,035 | 9,408 |
Installment [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,361 | 2,899 | |
Installment [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 209 | 194 | |
Installment [Member] | Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 148 | 105 |
Installment [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 61 | 89 | |
Installment [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 52 | 84 | |
Installment [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 37 | 78 |
Installment [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 15 | 6 | |
Installment [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 45 | 4 | |
Installment [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 45 | 4 |
Installment [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 0 | |
Installment [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 112 | 106 | |
Installment [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 66 | 23 |
Installment [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 46 | 83 | |
Installment [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 16,187 | 12,113 | |
Installment [Member] | Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 11,887 | 9,303 |
Installment [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | $ 4,300 | $ 2,810 | |
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _9
Loan Portfolio and Allowance for Credit Losses, Non-accrual Loans, By Loan Class (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |
Non accrual loans by loan class [Abstract] | |||
Other estate owned | $ 1,400 | $ 2,100 | |
Total non-accrual loans | 19,413 | 17,483 | |
Restructured real estate mortgages - 1 to 4 family | 7 | 10 | |
Total nonperforming loans | 19,420 | 17,493 | |
New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 16,841 | 15,191 |
Restructured real estate mortgages - 1 to 4 family | [1] | 7 | 10 |
Total nonperforming loans | [1] | 16,848 | 15,201 |
Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 2,572 | 2,292 | |
Restructured real estate mortgages - 1 to 4 family | 0 | 0 | |
Total nonperforming loans | 2,572 | 2,292 | |
Residential Real Estate [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Non accrual residential mortgage loans in the process of foreclosure | 6,900 | 7,400 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 545 | 199 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 545 | 199 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 0 | 0 | |
Commercial [Member] | Other [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 314 | 334 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 0 | 20 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 314 | 314 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 15,715 | 14,345 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 13,680 | 12,609 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 2,035 | 1,736 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 286 | 195 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 240 | 153 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 46 | 42 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 2,429 | 2,304 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 2,252 | 2,187 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 177 | 117 | |
Installment [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 124 | 106 | |
Installment [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 124 | 23 |
Installment [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | $ 0 | $ 83 | |
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance_10
Loan Portfolio and Allowance for Credit Losses, Amortized Cost Basis of Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | $ 17,921 | $ 16,150 |
Non-accrual | 1,492 | 1,333 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Commercial [Member] | Commercial Real Estate [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 545 | 160 |
Non-accrual | 0 | 39 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Commercial [Member] | Other [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 314 | 20 |
Non-accrual | 0 | 314 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 14,406 | 13,502 |
Non-accrual | 1,309 | 843 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 195 | 129 |
Non-accrual | 91 | 66 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 2,349 | 2,257 |
Non-accrual | 80 | 47 |
Loans Past Due Over 89 Days Still Accruing | 0 | 0 |
Installment [Member] | ||
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | 112 | 82 |
Non-accrual | 12 | 24 |
Loans Past Due Over 89 Days Still Accruing | $ 0 | $ 0 |
Loan Portfolio and Allowance_11
Loan Portfolio and Allowance for Credit Losses, Type of Collateral Dependent Loans by Portfolio Segment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Loans and Leases Receivable [Abstract] | ||
Total loans | $ 4,886,811 | $ 4,733,201 |
Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 26,628 | 25,695 |
Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Commercial [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 251,434 | 231,011 |
Commercial [Member] | Commercial Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 229,548 | 209,922 |
Commercial [Member] | Commercial Real Estate [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 656 | 312 |
Commercial [Member] | Commercial Real Estate [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Commercial [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 21,886 | 21,089 |
Commercial [Member] | Other [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 314 | 334 |
Commercial [Member] | Other [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Commercial [Member] | Other [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 4,618,981 | 4,489,883 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 4,252,144 | 4,146,902 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 21,934 | 21,467 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 57,861 | 56,549 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 299 | 236 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 308,976 | 286,432 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 3,313 | 3,264 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Installment [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 16,396 | 12,307 |
Installment [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 112 | 82 |
Installment [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | 0 | 0 |
Installment [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans | $ 0 | $ 0 |
Loan Portfolio and Allowance_12
Loan Portfolio and Allowance for Credit Losses, Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||
Financing Receivable Modifications Information [Abstract] | ||||||
Loan modifications classifications from previously performing loans | $ 8,700 | $ 9,500 | $ 8,700 | $ 9,500 | ||
New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | [1] | 73 | 443 | |||
Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | [1] | 0 | 0 | |||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
% of Total Class of Financing Receivable | 0.01% | 0.01% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
% of Total Class of Financing Receivable | 0.01% | 0.01% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
% of Total Class of Financing Receivable | 0.02% | 0.02% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
% of Total Class of Financing Receivable | 0.01% | 0.01% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | [1] | 73 | 443 | |||
% of Total Class of Financing Receivable | 0.01% | [1] | 0.01% | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
% of Total Class of Financing Receivable | 0.02% | 0.02% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | [1] | 0 | 0 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
% of Total Class of Financing Receivable | 0.02% | 0.02% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | [1] | 0 | 0 | |||
% of Total Class of Financing Receivable | 0.03% | 0.03% | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | $ 0 | $ 0 | ||||
Payment Delay [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | $ 630 | $ 630 | ||||
Payment Delay [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 288 | [1] | 288 | |||
Payment Delay [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 342 | 342 | ||||
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | [1] | 0 | |||
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Commercial [Member] | Other [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Commercial [Member] | Other [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | [1] | 0 | |||
Payment Delay [Member] | Commercial [Member] | Other [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | [1] | 0 | |||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 580 | 580 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 238 | [1] | 238 | |||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 342 | 342 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 50 | 50 | ||||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 50 | [1] | 50 | |||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Installment [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | 0 | ||||
Payment Delay [Member] | Installment [Member] | New York and Other States [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | 0 | [1] | 0 | |||
Payment Delay [Member] | Installment [Member] | Florida [Member] | ||||||
Financing Receivable Modifications [Abstract] | ||||||
Loans modified | $ 0 | $ 0 | ||||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance_13
Loan Portfolio and Allowance for Credit Losses, Performance of Loans Modified to Borrowers Experiencing Financial Difficulty (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | $ 630 |
New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 288 |
Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 342 |
30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 630 |
Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 288 |
Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 342 |
Commercial [Member] | Commercial Real Estate [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Commercial [Member] | Other [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 580 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 238 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 342 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 580 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 238 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 342 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 50 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 50 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 50 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 50 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 30-59 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 60-89 Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 90+ Days Past Due [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | 90+ Days Past Due [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | Current [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | Current [Member] | New York and Other States [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | 0 |
Installment [Member] | Current [Member] | Florida [Member] | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |
Performance of modified loans | $ 0 |
Loan Portfolio and Allowance_14
Loan Portfolio and Allowance for Credit Losses, Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Loan commitments to lend additional funds to borrowers | $ 0 | $ 0 | |||
Charge-off from loan modifications | 0 | ||||
Allowance for credit loss from loan modifications | 0 | 0 | |||
Loan modifications from payment default | $ 0 | $ 0 | $ 0 | $ 0 | |
Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | 64 months | 64 months | |||
New York and Other States [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | [1] | 40 months | 40 months | ||
Florida [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | 24 months | 24 months | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | 46 months | 46 months | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | [1] | 22 months | 22 months | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | 24 months | 24 months | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | 18 months | 18 months | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | Payment Delay [Member] | |||||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | |||||
Weighted average term | [1] | 18 months | 18 months | ||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance_15
Loan Portfolio and Allowance for Credit Losses, Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) Contract | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) Contract | ||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of loans defaulted from loan modifications within last 12 months | $ 0 | $ 0 | $ 0 | $ 0 | |
Deferral period of past due loans | 60 months | ||||
Number of days past due, when loans considered in payment default under modified terms | 90 days | ||||
Contractual past due period for loans to be in payment default | 30 days | ||||
New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | [1] | 1 | 4 | ||
Pre-Modification Outstanding Recorded Investment | [1] | $ 73 | $ 443 | ||
Post-Modification Outstanding Recorded Investment | [1] | $ 73 | $ 443 | ||
Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | |||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | |||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | [1] | 1 | 4 | ||
Pre-Modification Outstanding Recorded Investment | [1] | $ 73 | $ 443 | ||
Post-Modification Outstanding Recorded Investment | [1] | $ 73 | $ 443 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | |||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | |||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 0 | ||
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | |||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | |||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Securities available for sale [Abstract] | ||
Fair Value | $ 452,704 | $ 481,513 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 25 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 452,679 | 481,513 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 0 | 0 |
Carrying Value [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 452,704 | 481,513 |
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 |
Other securities | 25 | 0 |
Fair Value | 25 | 0 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale [Abstract] | ||
U.S. government sponsored enterprises | 113,570 | 118,187 |
State and political subdivisions | 34 | 34 |
Mortgage backed securities and collateralized mortgage obligations - residential | 243,444 | 260,316 |
Corporate bonds | 76,618 | 81,346 |
Small Business Administration - guaranteed participation securities | 18,382 | 20,977 |
Other securities | 631 | 653 |
Fair Value | 452,679 | 481,513 |
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 |
Other securities | 0 | 0 |
Fair Value | 0 | 0 |
Recurring [Member] | Carrying Value [Member] | ||
Securities available for sale [Abstract] | ||
U.S. government sponsored enterprises | 113,570 | 118,187 |
State and political subdivisions | 34 | 34 |
Mortgage backed securities and collateralized mortgage obligations - residential | 243,444 | 260,316 |
Corporate bonds | 76,618 | 81,346 |
Small Business Administration - guaranteed participation securities | 18,382 | 20,977 |
Other securities | 656 | 653 |
Fair Value | $ 452,704 | $ 481,513 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value Non-recurring Basis (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 USD ($) | Jun. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, Valuation Technique [Extensible List] | Valuation, Market Approach [Member] | Valuation, Market Approach [Member] | Valuation, Market Approach [Member] |
Other real estate owned, Measurement Input [Extensible List] | Adjustments for Differences Between Comparable Sales [Member] | Adjustments for Differences Between Comparable Sales [Member] | Adjustments for Differences Between Comparable Sales [Member] |
Valuation charge on other real estate owned | $ 107 | $ 68 | |
Impaired loans | $ 23,800 | 23,800 | 25,700 |
Collateral dependent impaired loans | 0 | 0 | 0 |
Valuation allowance | 0 | 0 | 0 |
Gross charge offs, residential impaired loans | 0 | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | $ 1,412 | $ 1,412 | $ 2,061 |
Nonrecurring [Member] | Minimum [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | 0.01 | 0.01 | 0.02 |
Nonrecurring [Member] | Maximum [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | 0.80 | 0.80 | 0.47 |
Nonrecurring [Member] | Weighted Average [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | (0.28) | (0.28) | (0.18) |
Nonrecurring [Member] | Carrying Value [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | $ 1,412 | $ 1,412 | $ 2,061 |
Nonrecurring [Member] | Carrying Value [Member] | Commercial Real Estate [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | $ 0 | $ 0 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments, Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets [Abstract] | ||
Cash and cash equivalents | $ 603,357 | $ 650,599 |
Securities available for sale | 452,704 | 481,513 |
Held to maturity securities | 6,926 | 7,580 |
Net loans | 4,428,975 | 4,328,508 |
Accrued interest receivable | 11,762 | 11,492 |
Financial liabilities [Abstract] | ||
Demand deposits | 791,353 | 838,147 |
Interest bearing deposits | 4,442,696 | 4,338,428 |
Short-term borrowings | 113,765 | 122,700 |
Accrued interest payable | 2,046 | 602 |
Level 1 [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 603,357 | 650,599 |
Securities available for sale | 25 | 0 |
Held to maturity securities | 0 | 0 |
Net loans | 0 | 0 |
Accrued interest receivable | 100 | 189 |
Financial liabilities [Abstract] | ||
Demand deposits | 791,353 | 838,147 |
Interest bearing deposits | 3,024,135 | 3,325,900 |
Short-term borrowings | 0 | 0 |
Accrued interest payable | 208 | 60 |
Level 2 [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 452,679 | 481,513 |
Held to maturity securities | 6,926 | 7,580 |
Net loans | 0 | 0 |
Accrued interest receivable | 1,734 | 1,866 |
Financial liabilities [Abstract] | ||
Demand deposits | 0 | 0 |
Interest bearing deposits | 1,418,561 | 1,012,528 |
Short-term borrowings | 113,765 | 122,700 |
Accrued interest payable | 1,838 | 542 |
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 | 4,428,975 | 4,328,508 |
Accrued interest receivable | 9,928 | 9,437 |
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 | 603,357 | 650,599 |
Securities available for sale | 452,704 | 481,513 |
Held to maturity securities | 7,043 | 7,707 |
Federal Reserve Bank and Federal Home Loan Bank stock | 6,203 | 5,797 |
Net loans | 4,839,897 | 4,687,169 |
Accrued interest receivable | 11,762 | 11,492 |
Financial liabilities [Abstract] | ||
Demand deposits | 791,353 | 838,147 |
Interest bearing deposits | 4,467,094 | 4,354,663 |
Short-term borrowings | 113,765 | 122,700 |
Accrued interest payable | $ 2,046 | $ 602 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss), Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance | $ 614,703 | $ 599,987 | $ 592,895 | $ 601,128 | $ 599,987 | $ 601,128 |
Other comprehensive income (loss) - before reclassifications | (2,755) | (6,829) | 1,146 | (21,080) | ||
Amount reclassified from accumulated other comprehensive (loss) income | (82) | (224) | (164) | (489) | ||
Other comprehensive (loss) gain, net of tax | (2,837) | 3,819 | (7,053) | (14,516) | 982 | (21,569) |
Balance | 621,389 | 614,703 | 594,632 | 592,895 | 621,389 | 594,632 |
Accumulated Other Comprehensive Loss [Member] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance | (23,375) | (27,194) | (2,369) | 12,147 | (27,194) | 12,147 |
Other comprehensive (loss) gain, net of tax | (2,837) | 3,819 | (7,053) | (14,516) | ||
Balance | (26,212) | (23,375) | (9,422) | (2,369) | (26,212) | (9,422) |
Net Unrealized Holding Gain (Loss) on Securities Available for Sale, Net of Tax [Member] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance | (28,370) | (32,271) | (14,277) | (26) | (32,271) | (26) |
Other comprehensive income (loss) - before reclassifications | (2,755) | (6,829) | 1,146 | (21,080) | ||
Amount reclassified from accumulated other comprehensive (loss) income | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) gain, net of tax | (2,755) | (6,829) | 1,146 | (21,080) | ||
Balance | (31,125) | (28,370) | (21,106) | (14,277) | (31,125) | (21,106) |
Net Change in Overfunded Position in Pension and Postretirement Plans Arising During the Year, Net of Tax [Member] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance | 7,588 | 7,588 | 13,706 | 13,706 | 7,588 | 13,706 |
Other comprehensive income (loss) - before reclassifications | 0 | 0 | 0 | 0 | ||
Amount reclassified from accumulated other comprehensive (loss) income | 0 | 0 | 0 | 0 | ||
Other comprehensive (loss) gain, net of tax | 0 | 0 | 0 | 0 | ||
Balance | 7,588 | 7,588 | 13,706 | 13,706 | 7,588 | 13,706 |
Net Change in Net Actuarial Gain and Prior Service Cost (Credit) on Pension and Postretirement Benefit Plans, Net of Tax [Member] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||||
Balance | (2,593) | (2,511) | (1,798) | (1,533) | (2,511) | (1,533) |
Other comprehensive income (loss) - before reclassifications | 0 | 0 | 0 | 0 | ||
Amount reclassified from accumulated other comprehensive (loss) income | (82) | (224) | (164) | (489) | ||
Other comprehensive (loss) gain, net of tax | (82) | (224) | (164) | (489) | ||
Balance | $ (2,675) | $ (2,593) | $ (2,022) | $ (1,798) | $ (2,675) | $ (2,022) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss), Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||||||
Salaries and employee benefits | $ 13,122 | $ 11,464 | $ 26,405 | $ 20,703 | ||
Income tax benefit | 5,451 | 5,591 | 11,360 | 11,216 | ||
Net income | 16,372 | $ 17,746 | 17,871 | $ 17,089 | 34,118 | 34,960 |
Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||||||
Net income | 82 | 224 | 164 | 489 | ||
Amortization of Pension and Postretirement Benefit Items [Member] | Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||||||
Income tax benefit | (29) | (79) | (58) | (172) | ||
Net income | 82 | 224 | 164 | 489 | ||
Amortization of Net Actuarial Gain [Member] | Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||||||
Salaries and employee benefits | 114 | 426 | 228 | 504 | ||
Amortization of Prior Service (Cost) Credit [Member] | Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||||||
Salaries and employee benefits | $ (3) | $ (123) | $ (6) | $ 157 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Sources of non-interest income [Abstract] | |||||
Other | [1] | $ 281 | $ 234 | $ 485 | $ 759 |
Total non-interest income | 4,598 | 4,916 | 9,267 | 10,099 | |
Overdraft Fees [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 723 | 647 | 1,403 | 1,293 | |
Other [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 554 | 495 | 1,086 | 972 | |
Interchange Income [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 1,628 | 1,544 | 3,107 | 3,246 | |
Wealth Management Fees [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | $ 1,412 | $ 1,996 | $ 3,186 | $ 3,829 | |
[1]Not within the scope of ASC 606. |
Operating Leases (Details)
Operating Leases (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 USD ($) Lease Property | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) Lease Property | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | ||
Leases, operating [Abstract] | ||||||
Number of lease for which construction not started | Lease | 0 | 0 | ||||
Other information related to leases [Abstract] | ||||||
Operating lease cost | $ 2,037 | $ 2,071 | $ 4,087 | $ 4,123 | ||
Variable lease cost | 619 | 545 | 1,204 | 1,141 | ||
Total Lease costs | $ 2,656 | $ 2,616 | 5,291 | 5,264 | ||
Cash paid for amounts included in the measurement of lease liabilities [Abstract] | ||||||
Operating cash flows from operating leases | 4,165 | 4,186 | ||||
Right-of-use assets obtained in exchange for lease obligations: | $ 1,653 | $ 2,484 | ||||
Weighted average remaining lease term | 8 years 8 months 12 days | 9 years 2 months 12 days | 8 years 8 months 12 days | 9 years 2 months 12 days | ||
Weighted average discount rate | 3.05% | 2.97% | 3.05% | 2.97% | ||
Future minimum lease payments under non-cancellable leases [Abstract] | ||||||
2023 | [1] | $ 4,212 | $ 4,212 | |||
2024 | 8,379 | 8,379 | ||||
2025 | 7,978 | 7,978 | ||||
2026 | 7,004 | 7,004 | ||||
2027 | 5,767 | 5,767 | ||||
Thereafter | 20,522 | 20,522 | ||||
Total lease payments | 53,862 | 53,862 | ||||
Less: Interest | 6,690 | 6,690 | ||||
Present value of lease liabilities | 47,172 | 47,172 | $ 48,980 | |||
Director [Member] | ||||||
Future minimum lease payments under non-cancellable leases [Abstract] | ||||||
Total lease payments | 3,000 | 3,000 | ||||
Less: Interest | $ 354 | $ 354 | ||||
Number of properties under lease owned by related party | Property | 5 | 5 | ||||
Minimum [Member] | ||||||
Leases, operating [Abstract] | ||||||
Operating lease expiration term | 4 months | 4 months | ||||
Maximum [Member] | ||||||
Leases, operating [Abstract] | ||||||
Operating lease expiration term | 21 years 3 months 18 days | 21 years 3 months 18 days | ||||
[1] Excluding the six months ended June 30, 2023. |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements (Details) $ in Thousands | Jun. 30, 2023 USD ($) Classification | Dec. 31, 2022 USD ($) | |
Trustco Bank [Member] | |||
Compliance With Regulatory Capital Requirements Under Banking Regulations Information [Abstract] | |||
Number of classifications for prompt corrective action regulations provide | Classification | 5 | ||
Tier One Risk Based Capital [Abstract] | |||
Tier 1 leverage capital | $ 627,958 | $ 609,998 | |
Common equity Tier 1 capital | 627,958 | 609,998 | |
Tier 1 risk-based capital | 627,958 | 609,998 | |
Total risk-based capital | $ 670,522 | $ 651,462 | |
Risk Based Ratios [Abstract] | |||
Tier 1 leverage ratio, ratio | 0.1037 | 0.10116 | |
Common equity Tier 1 capital, ratio | 0.18477 | 0.18431 | |
Tier 1 risk-based capital, ratio | 0.18477 | 0.18431 | |
Total risk-based capital, ratio | 0.1973 | 0.19684 | |
Leverage Ratios [Abstract] | |||
Tier 1 leverage ratio, well capitalized | [1] | 0.05 | 0.05 |
Tier 1 leverage ratio, minimum for capital adequacy plus capital conservation | [1],[2] | 0.04 | 0.04 |
Common equity Tier 1 capital, well capitalized | [1] | 0.065 | 0.065 |
Common equity Tier 1 capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.07 | 0.07 |
Tier 1 risk-based capital, well capitalized | [1] | 0.08 | 0.08 |
Tier 1 risk-based capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.085 | 0.085 |
Total risk-based capital, well capitalized | [1] | 0.10 | 0.10 |
Total risk-based capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.105 | 0.105 |
Common equity Tier 1 capital conservation buffer | 0.025 | 0.025 | |
Tier 1 risk based capital ratio, capital conservation buffer | 0.025 | 0.025 | |
Total risk based capital ratio, capital conservation buffer | 0.025 | 0.025 | |
TrustCo Bank Corp NY [Member] | |||
Tier One Risk Based Capital [Abstract] | |||
Tier 1 leverage capital | $ 647,048 | $ 626,628 | |
Common equity Tier 1 capital | 647,048 | 626,628 | |
Tier 1 risk-based capital | 647,048 | 626,628 | |
Total risk-based capital | $ 689,629 | $ 668,102 | |
Risk Based Ratios [Abstract] | |||
Tier 1 leverage ratio, ratio | 0.10682 | 0.1039 | |
Common equity Tier 1 capital, ratio | 0.19034 | 0.18929 | |
Tier 1 risk-based capital, ratio | 0.19034 | 0.18929 | |
Total risk-based capital, ratio | 0.20286 | 0.20182 | |
Leverage Ratios [Abstract] | |||
Tier 1 leverage ratio, minimum for capital adequacy plus capital conservation | [1],[2] | 0.04 | 0.04 |
Common equity Tier 1 capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.07 | 0.07 |
Tier 1 risk-based capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.085 | 0.085 |
Total risk-based capital, minimum for capital adequacy plus capital conservation | [1],[2] | 0.105 | 0.105 |
Common equity Tier 1 capital conservation buffer | 0.025 | 0.025 | |
Tier 1 risk based capital ratio, capital conservation buffer | 0.025 | 0.025 | |
Total risk based capital ratio, capital conservation buffer | 0.025 | 0.025 | |
[1]Federal regulatory minimum requirements to be considered to be Well Capitalized and Adequately Capitalized[2]The June 30, 2023 and December 31, 2022 common equity tier 1, tier 1 risk-based, and total risk-based capital ratios include a capital conservation buffer of 2.50 percent |