Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | Apr. 30, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
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, $1.00 par value | |
Trading Symbol | TRST | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,024,433 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest and dividend income: | ||
Interest and fees on loans | $ 49,804 | $ 44,272 |
Interest and dividends on securities available for sale: | ||
U. S. government sponsored enterprises | 906 | 692 |
Mortgage-backed securities and collateralized mortgage obligations - residential | 1,494 | 1,585 |
Corporate bonds | 476 | 521 |
Small Business Administration-guaranteed participation securities | 100 | 117 |
Other securities | 3 | 2 |
Total interest and dividends on securities available for sale | 2,979 | 2,917 |
Interest on held to maturity securities: | ||
Mortgage-backed securities and collateralized mortgage obligations-residential | 68 | 78 |
Total interest on held to maturity securities | 68 | 78 |
Federal Home Loan Bank stock | 152 | 110 |
Interest on federal funds sold and other short-term investments | 6,750 | 6,555 |
Total interest income | 59,753 | 53,932 |
Interest on deposits: | ||
Interest-bearing checking | 240 | 66 |
Savings accounts | 712 | 530 |
Money market deposit accounts | 2,342 | 814 |
Time deposits | 19,677 | 5,272 |
Interest on short-term borrowings | 204 | 285 |
Total interest expense | 23,175 | 6,967 |
Net interest income | 36,578 | 46,965 |
Provision for credit losses | 600 | 300 |
Net interest income after provision for credit losses | 35,978 | 46,665 |
Noninterest income: | ||
Trustco financial services income | 1,816 | 1,774 |
Fees for services to customers | 2,745 | 2,648 |
Other | 282 | 247 |
Total noninterest income | 4,843 | 4,669 |
Noninterest expenses: | ||
Salaries and employee benefits | 11,427 | 13,283 |
Net occupancy expense | 4,611 | 4,598 |
Equipment expense | 1,738 | 1,962 |
Professional services | 1,460 | 1,607 |
Outsourced services | 2,501 | 2,296 |
Advertising expense | 408 | 390 |
FDIC and other insurance | 1,094 | 1,052 |
Other real estate expense, net | 74 | 225 |
Other | 1,590 | 2,266 |
Total noninterest expenses | 24,903 | 27,679 |
Income before taxes | 15,918 | 23,655 |
Income taxes | 3,792 | 5,909 |
Net income | $ 12,126 | $ 17,746 |
Net income per share: | ||
Basic (in dollars per share) | $ 0.64 | $ 0.93 |
Diluted (in dollars per share) | $ 0.64 | $ 0.93 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||
Net income | $ 12,126 | $ 17,746 |
Net unrealized holding (loss) gain on securities available for sale | (1,872) | 5,251 |
Tax effect | 494 | (1,350) |
Net unrealized (loss) gain on securities available for sale, net of tax | (1,378) | 3,901 |
Amortization of net actuarial gain | (203) | (114) |
Amortization of prior service cost | 3 | 3 |
Tax effect | 52 | 29 |
Amortization of net actuarial gain and prior service cost on pension and postretirement plans, net of tax | (148) | (82) |
Other comprehensive (loss) income, net of tax | (1,526) | 3,819 |
Comprehensive income | $ 10,600 | $ 21,565 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
ASSETS: | ||
Cash and due from banks | $ 44,868 | $ 49,274 |
Federal funds sold and other short term investments | 564,815 | 528,730 |
Total cash and cash equivalents | 609,683 | 578,004 |
Securities available for sale | 426,241 | 452,289 |
Held to maturity securities ($6,108 and $6,396 fair value at March 31, 2024 and December 31, 2023, respectively) | 6,206 | 6,458 |
Federal Home Loan Bank stock | 6,203 | 6,203 |
Loans, net of deferred net costs | 5,005,506 | 5,002,879 |
Less: Allowance for credit losses on loans | 49,220 | 48,578 |
Net loans | 4,956,286 | 4,954,301 |
Bank premises and equipment, net | 33,423 | 34,007 |
Operating lease right-of-use assets | 39,647 | 40,542 |
Other assets | 101,881 | 96,387 |
Total assets | 6,179,570 | 6,168,191 |
Deposits: | ||
Demand | 742,997 | 754,532 |
Interest-bearing checking | 1,020,136 | 1,015,213 |
Savings accounts | 1,155,517 | 1,179,241 |
Money market deposit accounts | 532,611 | 565,767 |
Time deposits | 1,903,908 | 1,836,024 |
Total deposits | 5,355,169 | 5,350,777 |
Short-term borrowings | 94,374 | 88,990 |
Operating lease liabilities | 43,438 | 44,471 |
Accrued expenses and other liabilities | 37,399 | 38,668 |
Total liabilities | 5,530,380 | 5,522,906 |
SHAREHOLDERS' EQUITY: | ||
Capital stock par value $1.00; 30,000,000 shares authorized; 20,058,142 shares issued at March 31, 2024 and December 31, 2023, 19,024,433 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 20,058 | 20,058 |
Surplus | 257,335 | 257,181 |
Undivided profits | 430,346 | 425,069 |
Accumulated other comprehensive loss, net of tax | (14,763) | (13,237) |
Treasury stock at cost - 1,033,709 shares at March 31, 2024 and December 31, 2023, respectively | (43,786) | (43,786) |
Total shareholders' equity | 649,190 | 645,285 |
Total liabilities and shareholders' equity | $ 6,179,570 | $ 6,168,191 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
ASSETS: | ||
Held to maturity securities, fair value | $ 6,108 | $ 6,396 |
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 |
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, 2023 | 20,058 | 257,181 | 425,069 | (13,237) | (43,786) | 645,285 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 0 | 0 | 12,126 | 0 | 0 | 12,126 |
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | (1,526) | 0 | (1,526) |
Stock based compensation expense | 0 | 154 | 0 | 0 | 0 | 154 |
Cash dividend declared | 0 | 0 | (6,849) | 0 | 0 | (6,849) |
Balance at Mar. 31, 2024 | $ 20,058 | $ 257,335 | $ 430,346 | $ (14,763) | $ (43,786) | $ 649,190 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | ||
Cash dividend declared (in dollars per share) | $ 0.36 | $ 0.36 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net income | $ 12,126 | $ 17,746 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 1,085 | 1,008 |
Amortization of right-of-use asset | 1,654 | 1,634 |
Net gain on sale of other real estate owned | 0 | (148) |
Provision for credit losses | 600 | 300 |
Deferred tax expense | 1,447 | 1,816 |
Net amortization of securities | 346 | 460 |
Stock based compensation expense | 154 | 0 |
Decrease in taxes receivable | 3,844 | 5,456 |
Increase in interest receivable | (777) | (198) |
Increase in interest payable | 288 | 842 |
Increase in other assets | (4,224) | (3,583) |
Decrease in operating lease liabilities | (1,792) | (1,722) |
Decrease in accrued expenses and other liabilities | (4,855) | (4,831) |
Total adjustments | (2,230) | 1,034 |
Net cash provided by operating activities | 9,896 | 18,780 |
Cash flows from investing activities: | ||
Proceeds from sales, paydowns and calls of securities available for sale | 8,841 | 14,659 |
Proceeds from paydowns of held to maturity securities | 241 | 311 |
Purchases of securities available for sale | (20,000) | (5,000) |
Proceeds from maturities of securities available for sale | 35,000 | 0 |
Net increase in loans | (4,793) | (66,328) |
Proceeds from dispositions of other real estate owned | 68 | 340 |
Purchases of bank premises and equipment | (501) | (757) |
Net cash provided by (used in) investing activities | 18,856 | (56,775) |
Cash flows from financing activities: | ||
Net increase in deposits | 4,392 | 19,648 |
Net change in short-term borrowings | 5,384 | 11,593 |
Dividends paid | (6,849) | (6,861) |
Net cash provided by financing activities | 2,927 | 24,380 |
Net increase (decrease) in cash and cash equivalents | 31,679 | (13,615) |
Cash and cash equivalents at beginning of period | 578,004 | 650,599 |
Cash and cash equivalents at end of period | 609,683 | 636,984 |
Cash paid during the year for: | ||
Interest paid | 22,887 | 6,125 |
Income taxes paid | 494 | 471 |
Other non cash items: | ||
Transfer of loans to other real estate owned | 2,208 | 0 |
Increase (decrease) in dividends payable | 0 | (12) |
Change in unrealized (loss) gain on securities available for sale-gross of deferred taxes | (1,872) | 5,251 |
Change in deferred tax effect on unrealized loss (gain) on securities available for sale | 494 | (1,350) |
Amortization of net actuarial gain and prior service cost on pension and postretirement plans | (200) | (111) |
Change in deferred tax effect of amortization of net actuarial gain postretirement benefit plans | $ 52 | $ 29 |
Financial Statement Presentatio
Financial Statement Presentation | 3 Months Ended |
Mar. 31, 2024 | |
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 months ended March 31, 2024 is not necessarily indicative of the results that may be expected for the year ending December 31, 2024, 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 March 31, 2024, the results of operations and cash flows for the three months ended March 31, 2024 and 2023. The accompanying unaudited Consolidated Interim Financial Statements should be read in conjunction with the Company’s year‑end 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, 2023. The accompanying unaudited Consolidated Interim Financial Statements have been prepared in accordance with the 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 months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. 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, 2023 filed with the SEC on March 11, 2024. Risks and Uncertainties: Industry events have led to a greater focus by financial institutions, investors and regulators on liquidity positions of and funding sources for financial institutions, the composition of their deposits, including the amount of uninsured deposits, the amount of accumulated other comprehensive loss, capital levels and interest rate risk management. Present economic conditions have caused disruption to the banking system and any additional implications are uncertain. The Company believes that it has sufficient liquid assets and borrowing sources should there be a liquidity need. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2024 | |
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 months ended March 31, 2024 and 2023 is as follows: (in thousands, except per share data) For the three months ended March 31 2024 2023 Net income $ 12,126 $ 17,746 Weighted average common shares 19,024 19,024 Stock Options and Restricted Stock Units 8 3 Weighted average common shares including potential dilutive shares 19,032 19,027 Basic EPS $ 0.64 $ 0.93 Diluted EPS $ 0.64 $ 0.93 For the three months, ended March 31, 2024 and 2023 there were approximately 48 thousand and 2 thousand weighted average anti-dilutive stock options excluded from diluted earnings per share. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented. |
Benefit Plans
Benefit Plans | 3 Months Ended |
Mar. 31, 2024 | |
Benefit Plans [Abstract] | |
Benefit Plans | (3) Benefit Plans The table below outlines the components of the Company’s net periodic benefit recognized during the months ended March and for its pension and other postretirement benefit plans: Three March 31 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2024 2023 2024 2023 Service cost $ - $ - $ 5 $ 2 Interest cost 289 302 72 66 Expected return on plan assets (762 ) (680 ) (331 ) (289 ) Amortization of net gain (19 ) - (184 ) (114 ) Amortization of prior service cost - - 3 3 Net periodic benefit $ (492 ) $ (378 ) $ (435 ) $ (332 ) The Company does not expect to contribute to its pension and postretirement benefit plans in 2024. As of March 31, 2024, no contributions have been made; however, this decision is reviewed each quarter and is subject to change based upon market conditions. Since 2003, the Company has not subsidized retiree medical insurance premiums. However, it continues to provide 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 | 3 Months Ended |
Mar. 31, 2024 | |
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: March 31 2024 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 131,755 $ 4 $ 2,905 $ 128,854 State and political subdivisions 26 - - 26 Mortgage backed securities and collateralized mortgage obligations - residential 254,806 158 27,886 227,078 Corporate bonds 55,078 - 1,737 53,341 Small Business Administration - guaranteed participation securities 17,984 - 1,724 16,260 Other 688 7 13 682 Total Securities Available for Sale $ 460,337 $ 169 $ 34,265 $ 426,241 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 121,728 $ 5 $ 3,065 $ 118,668 State and political subdivisions 26 - - 26 Mortgage backed securities and collateralized mortgage obligations - residential 263,182 270 25,775 237,677 Corporate bonds 80,150 - 2,098 78,052 Small Business Administration - guaranteed participation securities 18,740 - 1,554 17,186 Other 687 11 18 680 Total Securities Available for Sale $ 484,513 $ 286 $ 32,510 $ 452,289 The following table categorizes 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 $ 70,613 $ 69,407 Due after one year through five years 116,934 113,496 Mortgage backed securities and collateralized mortgage obligations - residential 254,806 227,078 Small Business Administration - guaranteed participation securities 17,984 16,260 $ 460,337 $ 426,241 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: March 31 2024 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 $ 14,993 7 106,358 2,898 121,351 2,905 Mortgage backed securities and collateralized mortgage obligations - residential 2,907 10 217,331 27,876 220,238 27,886 Corporate bonds - - 53,341 1,737 53,341 1,737 Small Business Administration - guaranteed participation securities - - 16,260 1,724 16,260 1,724 Other - - 637 13 637 13 Total $ 17,900 17 393,927 34,248 411,827 34,265 December 31, 2023 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unreal. Fair Unreal. Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ - - 116,163 3,065 116,163 3,065 Mortgage backed securities and collateralized mortgage obligations - residential - - 227,891 25,775 227,891 25,775 Corporate bonds - - 78,052 2,098 78,052 2,098 Small Business Administration - guaranteed participation securities - - 17,186 1,554 17,186 1,554 Other - - 631 18 631 18 Total $ - - 439,923 32,510 439,923 32,510 There were no allowance for credit losses recorded for securities available for sale during the months ended March and 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 months ended March 31, 2024 and 2023 are as follows: Three months ended March 31, (dollars in thousands) 2024 2023 Proceeds from sales $ - - Proceeds from calls/paydowns 8,841 14,659 Proceeds from maturities 35,000 - Gross realized gains - - Gross realized losses - - (b) Held to maturity securities The amortized cost and fair value of the held to maturity securities are as follows: March 31 2024 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,206 49 147 6,108 Total held to maturity $ 6,206 49 147 6,108 December 31, 2023 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,458 74 136 6,396 Total held to maturity $ 6,458 74 136 6,396 The following table categorizes (dollars in thousands) Amortized Fair Cost Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,206 6,108 $ 6,206 6,108 All held to maturity securities are held at cost on the financial statements. Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position, were as follows: March 31, 2024 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 $ 136 3 2,523 144 2,659 147 Total $ 136 3 2,523 144 2,659 147 December 31, 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 $ 283 3 2,703 133 2,986 136 Total $ 283 3 2,703 133 2,986 136 There were no sales or transfers of held to maturity securities during the three months ended March 31, 2024 and 2023. There were no allowance for credit losses recorded for held to maturity securities during the three months ended March 31, 2024 and 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 it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The assessment of whether any other‑than‑temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether management intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. If management intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If management does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis, the OTTI on debt securities shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings 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 March 31, 2024. 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 March 31, 2024, the Company’s securities 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: Corporate Bonds & Other: As of March 31, 2024, corporate and other bonds held by the Company were investment grade quality. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired as of March 31, 2024. Small Business Administration (SBA) - guaranteed participation securities: As of March 31, 2024, all of the SBA securities held by the Company were issued and guaranteed by U.S. Small Business Administration. Because the decline in fair value is attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired as of March 31, 2024. |
Loan Portfolio and Allowance fo
Loan Portfolio and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2024 | |
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 tables presents loans by portfolio segment: March 31, 2024 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 214,158 $ 40,757 $ 254,915 Other 23,536 641 24,177 Real estate mortgage - 1 to 4 family: First mortgages 2,744,294 1,552,257 4,296,551 Home equity loans 44,207 13,611 57,818 Home equity lines of credit 213,754 142,125 355,879 Installment 11,581 4,585 16,166 Total loans, net $ 3,251,530 $ 1,753,976 5,005,506 Less: Allowance for credit losses 49,220 Net loans $ 4,956,286 * Includes New York, New Jersey, Vermont and Massachussetts. December 31, 2023 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 212,754 $ 39,501 $ 252,255 Other 20,863 397 21,260 Real estate mortgage - 1 to 4 family: First mortgages 2,756,914 1,550,191 4,307,105 Home equity loans 44,152 13,806 57,958 Home equity lines of credit 212,298 135,117 347,415 Installment 12,057 4,829 16,886 Total loans, net $ 3,259,038 $ 1,743,841 5,002,879 Less: Allowance for credit losses 48,578 Net loans $ 4,954,301 *Includes New York, New Jersey, Vermont and Massachussetts Included in commercial loans above are Paycheck Protection Program (“PPP”) loans totaling $556 thousand and $620 thousand as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024, the Company had approximately $25.8 million of real estate construction loans. Of the $25.8 million in real estate construction loans as of March 31, 2024, approximately $7.6 million are secured by first mortgages to residential borrowers while approximately $18.2 million were to commercial borrowers for residential construction projects. The majority of construction loans are in the Company’s New York market. At December 31, 2023, the Company had approximately $29.1 million of real estate construction loans. Of the $29.1 million in real estate construction loans at December 31, 2023, approximately $8.0 million are secured by first mortgages to residential borrowers while approximately $21.1 million were to commercial borrowers for residential construction projects. The majority of construction loans held in 2023 were in the Company’s New York market. 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 and current conditions. Consistent with previous periods, the Company has determined the stagflation forecast scenario to be appropriate for the March 31, 2024 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. The Company recorded a provision for credit losses of $600 thousand for the three months ended March 31, 2024, which is the result a provision for credit losses on loans of $600 thousand, and there was no provision for credit losses on unfunded commitments. The Company recorded a provision for credit losses of $300 thousand for the three months ended March 31, 2023, which includes a provision for credit losses on loans of $600 thousand, and a benefit for credit losses on unfunded commitments of $300 thousand. Activity in the allowance for credit losses on loans by portfolio segment for the three months ended March 31, 2024 and 2023 is summarized as follows: For the three months ended March 31, 2024 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,735 $ 45,625 $ 218 $ 48,578 Loans charged off: New York and other states* - 117 44 161 Florida - - - - Total loan chargeoffs - 117 44 161 Recoveries of loans previously charged off: New York and other states* - 195 8 203 Florida - - - - Total recoveries - 195 8 203 Net loans (recoveries) charged off - (78 ) 36 (42 ) Provision for credit losses 7 592 1 600 Balance at end of period $ 2,742 $ 46,295 $ 183 $ 49,220 * Includes New York, New Jersey, Vermont and Massachusetts For the three months ended March 31, 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* - - 17 17 Florida - - 31 31 Total loan chargeoffs - - 48 48 Recoveries of loans previously charged off: New York and other states* - 53 23 76 Florida - 25 - 25 Total recoveries - 78 23 101 Net loan (recoveries) charged off - (78 ) 25 (53 ) Provision for credit losses 112 417 71 600 Balance at end of period $ 2,708 43,766 211 46,685 * Includes New York, New Jersey, Vermont and Massachusetts. 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 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 months ended March 31, 2024 and 2023 is as follows: For the three months ended (In thousands) March 31, 2024 Balance at January 31, 2024 $ 1,662 Provision for credit losses - Balance at March 31, 2024 $ 1,662 For the three (In thousands) months ended March 31, 2023 Balance at January 1, 2023 $ 2,912 (Credit) provision for credit losses (300 ) Balance at March 31, 2023 $ 2,612 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 : Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard : Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as such have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful : Loans classified as doubtful have all the weaknesses inherent in those loans classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. 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 March 31, 2024 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 March 31, 2024 and December 31, 2023, based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs for each loan type by origination year was as follows: (in thousands) As of March 31, 2024 Term Loans Amortized Cost Basis by Origination Year Commercial: 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 10,568 $ 57,315 $ 80,610 $ 23,628 $ 16,206 $ 59,591 $ 5,360 $ - $ 253,278 Special Mention $ - $ - $ 247 $ - $ 37 $ 537 $ - $ - $ 821 Substandard $ - $ - $ - $ - $ - $ 816 $ - $ - $ 816 Total Commercial Loans $ 10,568 $ 57,315 $ 80,857 $ 23,628 $ 16,243 $ 60,944 $ 5,360 $ - $ 254,915 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 1,542 $ 9,170 $ 2,079 $ 1,798 $ 1,329 $ 3,132 $ 4,614 $ - $ 23,664 Special mention $ - $ - $ - $ - $ - $ - $ 38 $ - $ 38 Substandard $ - $ - $ - $ - $ - $ - $ 285 $ - $ 285 Doubtful $ - $ - $ - $ 190 $ - $ - $ - $ - $ 190 Total Commercial Real Estate Loans $ 1,542 $ 9,170 $ 2,079 $ 1,988 $ 1,329 $ 3,132 $ 4,937 $ - $ 24,177 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 49,915 $ 420,073 $ 560,709 $ 865,629 $ 721,417 $ 1,664,927 $ - $ - $ 4,282,670 Nonperforming $ - $ 64 $ 209 $ 539 $ 78 $ 12,991 $ - $ - $ 13,881 Total First Mortgage: $ 49,915 $ 420,137 $ 560,918 $ 866,168 $ 721,495 $ 1,677,918 $ - $ - $ 4,296,551 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 18 $ - $ - $ 18 $ - $ - $ - $ - $ - $ 18 $ - $ - $ 18 Home Equity Loans: Risk rating Performing $ 1,417 $ 9,565 $ 5,884 $ 7,601 $ 5,512 $ 27,515 $ - $ - $ 57,494 Nonperforming $ - $ - $ - $ - $ - $ 324 $ - $ - $ 324 Total Home Equity Loans: $ 1,417 $ 9,565 $ 5,884 $ 7,601 $ 5,512 $ 27,839 $ - $ - $ 57,818 Home Equity Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Lines of Credit: Risk rating Performing $ 812 $ 1,348 $ 712 $ 543 $ 169 $ 15,686 $ 333,534 $ - $ 352,804 Nonperforming $ - $ - $ - $ - $ 56 $ 2,804 $ 215 $ - $ 3,075 Total Home Equity Credit Lines: $ 812 $ 1,348 $ 712 $ 543 $ 225 $ 18,490 $ 333,749 $ - $ 355,879 Home Equity Lines of Credit: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 99 $ - $ - $ 99 $ - $ - $ - $ - $ - $ 99 $ - $ - $ 99 Installments: Risk rating Performing $ 984 $ 7,823 $ 4,148 $ 1,273 $ 289 $ 544 $ 956 $ - $ 16,017 Nonperforming $ - $ - $ 46 $ 36 $ - $ 66 $ 1 $ - $ 149 Total Installments $ 984 $ 7,823 $ 4,194 $ 1,309 $ 289 $ 610 $ 957 $ - $ 16,166 Installments Loans: Current-period Gross writeoffs $ - $ 18 $ 19 $ - $ - $ 7 $ - $ - $ 44 $ - $ 18 $ 19 $ - $ - $ 7 $ - $ - $ 44 (in thousands) As of December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Commercial : 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 61,148 $ 82,339 $ 23,940 $ 16,653 $ 19,835 $ 41,153 $ 5,664 $ - $ 250,732 Special Mention - - - 42 - 225 - - 267 Substandard - - - - - 1,256 - - 1,256 Total Commercial Loans $ 61,148 $ 82,339 $ 23,940 $ 16,695 $ 19,835 $ 42,634 $ 5,664 $ - $ 252,255 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 7,873 $ 2,164 $ 1,933 $ 1,386 $ 321 $ 2,641 $ 4,482 $ - $ 20,800 Special mention - - - - - - 34 - 34 Substandard - - 328 - - 98 - - 426 Total Commercial Real Estate Loans $ 7,873 $ 2,164 $ 2,261 $ 1,386 $ 321 $ 2,739 $ 4,516 $ - $ 21,260 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 418,891 $ 566,617 $ 878,015 $ 732,851 $ 342,559 $ 1,354,867 $ - $ - $ 4,293,800 Nonperforming 64 210 383 229 1,119 11,300 - - 13,305 Total First Mortgage: $ 418,955 $ 566,827 $ 878,398 $ 733,080 $ 343,678 $ 1,366,167 $ - $ - $ 4,307,105 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ 27 $ 336 $ - $ - 363 $ - $ - $ - $ - $ 27 $ 336 $ - $ - $ 363 Home Equity Loans: Risk rating Performing $ 9,660 $ 5,963 $ 7,770 $ 5,668 $ 6,542 $ 22,076 $ - $ - $ 57,679 Nonperforming - - - - - 279 - - 279 Total Home Equity Loans: $ 9,660 $ 5,963 $ 7,770 $ 5,668 $ 6,542 $ 22,355 $ - $ - $ 57,958 Home Equity Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Credit Lines: Risk rating Performing $ 355 $ 641 $ 248 $ 75 $ 10 $ 15,964 $ 327,059 $ - $ 344,352 Nonperforming - - 8 56 - 2,813 186 - 3,063 Total Home Equity Credit Lines: $ 355 $ 641 $ 256 $ 131 $ 10 $ 18,777 $ 327,245 $ - $ 347,415 Home Equity Credit Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 8 $ - $ - 8 $ - $ - $ - $ - $ - $ 8 $ - $ - $ 8 Installments: Risk rating Performing $ 8,473 $ 4,592 $ 1,484 $ 360 $ 198 $ 605 $ 1,008 $ - $ 16,720 Nonperforming - 49 51 - 63 3 - - 166 Total Installments $ 8,473 $ 4,641 $ 1,535 $ 360 $ 261 $ 608 $ 1,008 $ - $ 16,886 Installments Loans: Current-period Gross writeoffs $ 16 $ 67 $ 50 $ 1 $ 21 $ 21 $ - $ - 176 $ 16 $ 67 $ 50 $ 1 $ 21 $ 21 $ - $ - $ 176 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. Other real estate owned included $2.2 million and $-0- of commercial foreclosed properties, and $ 126 1.9 6.7 8.7 The following tables present the aging of the amortized cost in past due loans by loan class and by region as of March 31, 2024 and December 31, 2023: As of March 31 2024 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 $ - $ - $ 520 $ 520 $ 213,638 $ 214,158 Other 11 - - 11 23,525 23,536 Real estate mortgage - 1 to 4 family: First mortgages 4,576 1,279 5,873 11,728 2,732,566 2,744,294 Home equity loans 13 89 175 277 43,930 44,207 Home equity lines of credit 383 436 1,578 2,397 211,357 213,754 Installment 38 4 99 141 11,440 11,581 Total $ 5,021 $ 1,808 $ 8,245 $ 15,074 $ 3,236,456 $ 3,251,530 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 $ - $ - $ - $ - $ 40,757 $ 40,757 Other - - 314 314 327 641 Real estate mortgage - 1 to 4 family: First mortgages 956 1,152 1,287 3,395 1,548,862 1,552,257 Home equity loans - 91 6 97 13,514 13,611 Home equity lines of credit 146 - 143 289 141,836 142,125 Installment 6 8 - 14 4,571 4,585 Total $ 1,108 $ 1,251 $ 1,750 $ 4,109 $ 1,749,867 $ 1,753,976 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 $ - $ - $ 520 $ 520 $ 254,395 $ 254,915 Other 11 - 314 325 23,852 24,177 Real estate mortgage - 1 to 4 family: First mortgages 5,532 2,431 7,160 15,123 4,281,428 4,296,551 Home equity loans 13 180 181 374 57,444 57,818 Home equity lines of credit 529 436 1,721 2,686 353,193 355,879 Installment 44 12 99 155 16,011 16,166 Total $ 6,129 $ 3,059 $ 9,995 $ 19,183 $ 4,986,323 $ 5,005,506 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 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 $ - - 521 521 212,233 212,754 Other - 26 - 26 20,837 20,863 Real estate mortgage - 1 to 4 family: First mortgages 4,330 811 6,008 11,149 2,745,765 2,756,914 Home equity loans 20 138 157 315 43,837 44,152 Home equity lines of credit 591 135 1,499 2,225 210,073 212,298 Installment 6 18 95 119 11,938 12,057 Total $ 4,947 1,128 8,280 14,355 3,244,683 3,259,038 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 $ - - - - 39,501 39,501 Other - - 314 314 83 397 Real estate mortgage - 1 to 4 family: First mortgages 1,290 78 1,433 2,801 1,547,390 1,550,191 Home equity loans 73 6 - 79 13,727 13,806 Home equity lines of credit 184 - 56 240 134,877 135,117 Installment 16 - 60 76 4,753 4,829 Total $ 1,563 84 1,863 3,510 1,740,331 1,743,841 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 $ - - 521 521 251,734 252,255 Other - 26 314 340 20,920 21,260 Real estate mortgage - 1 to 4 family: First mortgages 5,620 889 7,441 13,950 4,293,155 4,307,105 Home equity loans 93 144 157 394 57,564 57,958 Home equity lines of credit 775 135 1,555 2,465 344,950 347,415 Installment 22 18 155 195 16,691 16,886 Total $ 6,510 1,212 10,143 17,865 4,985,014 5,002,879 * Includes New York, New Jersey, Vermont and Massachusetts. As of March 31, 2024, 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. Loans individually evaluated for impairment are non-accrual loans delinquent greater than 180 days, non-accrual commercial loans, as well as loans classified as loan modifications. As of March 31, 2024 and 2023, there was no allowance for credit losses based on the loans 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 tables present the amortized cost basis in non-accrual loans by portfolio segment: As of March 31 2024 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 532 $ - $ 532 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 11,274 2,607 13,881 Home equity loans 281 43 324 Home equity lines of credit 2,803 272 3,075 Installment 149 - 149 Total non-accrual loans 15,039 3,236 18,275 Restructured real estate mortgages - 1 to 4 family - - - Total nonperforming loans $ 15,039 $ 3,236 $ 18,275 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 2023 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 536 $ - $ 536 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 11,324 1,981 13,305 Home equity loans 235 44 279 Home equity lines of credit 2,816 247 3,063 Installment 151 15 166 Total non-accrual loans 15,062 2,601 17,663 Restructured real estate mortgages - 1 to 4 family 3 - 3 Total nonperforming loans $ 15,065 $ 2,601 $ 17,666 * 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 March 31, 2024 and December 31, 2023: As of March 31, 2024 (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 $ 532 $ - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 12,785 1,096 - Home equity loans 275 49 - Home equity lines of credit 2,759 316 - Installment 126 19 - Total loans, net $ 16,791 $ 1,480 - 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 $ 536 $ - - Other 314 - - Real estate mortgage - to family: First mortgages 12,584 721 - Home equity loans 271 8 - Home equity lines of credit 2,395 668 - Installment 144 22 - Total loans, net $ 16,244 $ 1,419 - The non-accrual balance of $1.5 million and $1.4 million was collectively evaluated and the associated allowance for credit losses on loans was determined not to be material as of March 31, 2024 and December 31, 2023, respectively. The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of March 31, 2024 and December 31, 2023: As of March 31 2024 (dollars in thousands) 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 2,742 46,295 183 49,220 Total ending allowance balance $ 2,742 $ 46,295 $ 183 $ 49,220 Loans: Individually evaluated for impairment $ 952 $ 23,769 $ 126 $ 24,847 Collectively evaluated for impairment 278,140 4,686,479 16,040 4,980,659 Total ending loans balance $ 279,092 $ 4,710,248 $ 16,166 $ 5,005,506 As of December 31, 2023 (dollars in thousands) 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 2,735 45,625 218 48,578 Total ending allowance balance $ 2,735 45,625 218 48,578 Loans: Individually evaluated for impairment $ 957 23,628 144 24,729 Collectively evaluated for impairment 272,558 4,688,850 16,742 4,978,150 Total ending loans balance $ 273,515 4,712,478 16,886 5,002,879 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 tables present the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of March 31, 2024 and December 31, 2023: As of March 31, 2024 Type of Collateral (dollars in thousands) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 638 - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 19,774 - - Home equity loans 373 - - Home equity lines of credit 3,622 - - Installment 126 - - Total $ 24,847 - - As of December Type of Collateral (dollars in s) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 643 - - Other 314 - - Real estate mortgage - to family: First mortgages 20,018 - - Home equity loans 371 - - Home equity lines of credit 3,239 - - Installment 144 - - Total $ 24,729 - - The Company has not committed to lend additional amounts to customers with outstanding loans that are modified. Interest income recognized on loans that are individually evaluated was not material during the three months ended March 31, 2024 and 2023 . As of March 31, 2024 and 2023 loans individually evaluated included approximately $8.1 million and $8.8 million, respectively, of loans in accruing status that were identified as loan modifications in accordance with regulatory guidance related to Chapter 7 and 13 bankruptcy loans. 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, 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 March 31, 2024 that were both experiencing financial difficulty and modified during the three months ended March 31, 2024, by class and by type of modification. There were no loan modifications for the three months ended March 31, 2023. 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 March 31, 2024 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 - - Home equity loans - - Home equity lines of credit - - Installment - - Total $ - 0.00 % 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 85 0.01 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 85 0.00 % Total Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 85 0.00 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 85 0.00 % * 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 as of March 31, 2024: As of March 31, 2024 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 - - - - - Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ - $ - $ - $ - $ - 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 85 - - - 85 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 85 $ - $ - $ - $ 85 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 85 - - - 85 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 85 $ - $ - $ - $ 85 * 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 March 31, 2024 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 - Home equity loans - Home equity lines of credit - Installment - Total $ - Weighted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 12 Home equity loans - Home equity lines of credit - Installment - Total $ 12 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 12 Home equity loans - Home equity lines of credit - Installment - Total $ 12 * Includes New York, New Jersey, Vermont and Massachusetts. The addition of these loan modifications did not have a significant impact on the allowance for credit losses on loans. The nature of the modifications that resulted in them being classified as a loan modification was the borrower filing for bankruptcy protection. There were no loans that defaulted during the months ended March and which had been classified as a loan modification within the months. In situations where the Bank considers a loan modification, management determines whether the borrower is experiencing financial difficulty by performing an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s underwriting policy. Generally, the modification of the terms of loans was the result of the borrower filing for bankruptcy protection. Chapter 13 bankruptcies generally include the deferral of all past due amounts for a period of generally 60 months in accordance with the bankruptcy court order. In the case of Chapter 7 bankruptcies even though there is no modification of terms, the borrowers’ debt to the Company was discharged and they did not reaffirm the debt. A loan is considered to be in payment default once it is contractually past due under the modified terms. In situations involving a borrower filing for Chapter bankruptcy protection, however, a loan is considered to be in payment default once it is contractually past due, consistent with the treatment by the bankruptcy court. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2024 | |
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 months ended March 31, 2024 and 2023. Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: Fair Value Measurements at March 31 2024 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 $ 128,854 $ - $ 128,854 $ - State and political subdivisions 26 - 26 - Mortgage backed securities and collateralized mortgage obligations - residential 227,078 - 227,078 - Corporate bonds 53,341 - 53,341 - Small Business Administration- guaranteed participation securities 16,260 - 16,260 - Other securities 682 - 682 - Total securities available for sale $ 426,241 $ - $ 426,241 $ - Fair Value Measurements at December 31, 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) Securities available for sale: U.S. government sponsored enterprises $ 118,668 $ - $ 118,668 $ - State and political subdivisions 26 - 26 - Mortgage backed securities and collateralized mortgage obligations - residential 237,677 - 237,677 - Corporate bonds 78,052 - 78,052 - Small Business Administration- guaranteed participation securities 17,186 - 17,186 - Other securities 680 - 680 - Total securities available for sale $ 452,289 $ - $ 452,289 $ - Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at March 31, 2024 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 $ 2,334 $ - $ - $ 2,334 Sales comparison approach Adjustments for differences between comparable sales 1% - 1% (1 %) Fair Value Measurements at December 31, 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 $ 194 $ - $ - $ 194 Sales comparison approach Adjustments for differences between comparable sales 0% - 39% (20 %) Other real estate owned, that is carried at fair value less costs to sell was approximately $2.3 million as of March 31, 2024 and consisted of residential and commercial real estate properties. There were no valuation charges included in earnings for the three months ended March Of the total individually evaluated loans of $24.8 million as of March 31, 2024, 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 as of March 31, 2024. There were no gross charge-offs related to residential individually evaluated loans included in the table above. Other real estate owned, which is carried at fair value less costs to sell, was approximately $194 thousand at December 31, 2023, and consisted of only residential real estate properties. A valuation charge of $143 thousand is included in earnings for the year ended December 31, 2023. Of the total individually evaluated loans of $24.7 million at December 31, 2023, 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, 2023. There were no gross charge-offs related to residential individually evaluated loans included in the table above. In accordance with FASB Topic 825, Financial Instruments March (dollars in thousands) Fair Value Measurements at Carrying March 31 2024 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 609,683 609,683 - - 609,683 Securities available for sale 426,241 - 426,241 - 426,241 Held to maturity securities 6,206 - 6,108 - 6,108 Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,956,286 - - 4,432,000 4,432,000 Accrued interest receivable 14,460 799 2,073 11,588 14,460 Financial liabilities: Demand deposits 742,997 742,997 - - 742,997 Interest bearing deposits 4,612,172 2,708,264 1,886,696 - 4,594,960 Short-term borrowings 94,374 - 94,374 - 94,374 Accrued interest payable 3,900 248 3,652 - 3,900 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2023 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 578,004 578,004 - - 578,004 Securities available for sale 452,289 - 452,289 - 452,289 Held to maturity securities 6,458 - 6,396 - 6,396 Federal Reserve Bank and Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,954,301 - - 4,422,027 4,422,027 Accrued interest receivable 13,683 234 1,920 11,529 13,683 Financial liabilities: Demand deposits 754,532 754,532 - - 754,532 Interest bearing deposits 4,596,245 2,760,221 1,819,789 - 4,580,010 Short-term borrowings 88,990 - 88,990 - 88,990 Accrued interest payable 3,612 256 3,356 - 3,612 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2024 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | (7) Accumulated Other Comprehensive Loss The following is a summary of the accumulated other comprehensive income loss balances, net of tax: Three months ended March 31, 2024 Amount Other reclassified Other Comprehensive from Accumulated Comprehensive loss- Balance at loss-Before Other Comprehensive Three months ended Balance at (dollars in thousands) 12/31/2023 Reclassifications Loss 3/31/2024 3/31/2024 Net unrealized holding loss on securities available for sale, net of tax $ (23,899 ) (1,378 ) - (1,378 ) (25,277 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,476 - - - 13,476 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (2,814 ) - (148 ) (148 ) (2,962 ) Accumulated other comprehensive loss, net of tax $ (13,237 ) (1,378 ) (148 ) (1,526 ) (14,763 ) Three months ended March 31, 2023 Amount Other reclassified Other Comprehensive from Accumulated Comprehensive loss- Balance at loss-Before Other Comprehensive Three months ended Balance at (dollars in thousands) 12/31/2022 Reclassifications Loss 3/31/2023 3/31/2023 Net unrealized holding gain on securities available for sale, net of tax $ (32,271 ) 3,901 - 3,901 (28,370 ) 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 (2,511 ) - (82 ) (82 ) (2,593 ) Accumulated other comprehensive loss, net of tax $ (27,194 ) 3,901 (82 ) 3,819 (23,375 ) The following represents the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2024 and 2023: (dollars in thousands) Three months ended March 31 2024 2023 Affected Line Item in Financial Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 203 114 Salaries and employee benefits Amortization of prior service cost (3 ) (3 ) Salaries and employee benefits Income tax benefit (52 ) (29 ) Income taxes Net of tax 148 82 Total reclassifications, net of tax $ 148 82 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2024 | |
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 ended March 31, 2024 and 2023. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended March 31 2024 2023 Non-interest income Service Charges on Deposits Overdraft fees $ 663 $ 680 Other 511 532 Interchange Income 1,597 1,479 Wealth management fees 1,816 1,774 Other (a) 256 204 Total non-interest income $ 4,843 $ 4,669 (a) A description of the Company’s revenue streams accounted in accordance with ASC 606 as follows: Service charges on Deposit Accounts: Interchange Income: Wealth Management fees: |
Operating Leases
Operating Leases | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, the Company did not have any leases with terms of twelve months or less. As of March 31, 2024 , , Other information related to leases was as follows: (dollars in thousands) Three months ended March 31 2024 2023 Operating lease cost $ 2,097 2,050 Variable lease cost 606 585 Total Lease costs $ 2,703 2,635 (dollars in thousands) Three months ended March 31 2024 2023 Supplemental cash flows information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,124 2,072 Right-of-use assets obtained in exchange for lease obligations: 759 385 Weighted average remaining lease term 8.4 8.7 years Weighted average discount rate 3.12 % 3.00 % Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: (dollars in thousands) Year ending December 31 2024 (a) $ 6,362 2025 8,156 2026 7,183 2027 5,974 2028 4,786 Thereafter 17,085 Total lease payments $ 49,546 Less: Interest 6,108 Present value of lease liabilities $ 43,438 (a) Excluding the three months ended March 31, 2024. A member of the Board of Directors has an ownership interest in five 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 as of |
Regulatory Capital Requirements
Regulatory Capital Requirements | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, 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 March 31, 2024 and December 31, 2023, 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 March 31 : (Bank Only) Minimum for As of March 31, 2024 Well Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 640,288 10.427 % 5.000 % 4.000 % Common equity tier 1 capital 640,288 18.505 6.500 7.000 Tier 1 risk-based capital 640,288 18.505 8.000 8.500 Total risk-based capital 683,633 19.758 10.000 10.500 As of December 31, 2023 Well Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 636,327 10.428 % 5.000 % 4.000 % Common equity tier 1 capital 636,327 18.280 6.500 7.000 Tier 1 risk-based capital 636,327 18.280 8.000 8.500 Total risk-based capital 679,924 19.532 10.000 10.500 (Consolidated) As of March 31, 2024 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 663,400 10.798 % 4.000 % Common equity tier 1 capital 663,400 19.168 7.000 Tier 1 risk-based capital 663,400 19.168 8.500 Total risk-based capital 706,757 20.421 10.500 As of December 31, 2023 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 657,968 10.780 % 4.000 % Common equity Tier 1 capital 657,968 18.896 7.000 Tier 1 risk-based capital 657,968 18.896 8.500 Total risk-based capital 701,577 20.149 10.500 (1) Federal regulatory minimum requirements to be considered to be Well Capitalized and Adequately Capitalized (2) The March 31, 2024 and December 31, 2023 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 | 3 Months Ended |
Mar. 31, 2024 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | (11) New Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. ASU 2023-07 implements a new requirement to disclose significant segment expenses regularly provided to the chief operating decision maker, expands certain annual disclosures to interim periods, clarifies that single reportable segment entities must apply Topic 280 in its entirety and permits more than one measure of segment profit or loss to be reported under certain conditions. ASU 2023-07 is effective for the Company for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the requirements of the expanded segment disclosures but does not currently expect the additional disclosures to have a material impact on the Company’s consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is focused on additional income tax disclosures and requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted. While the Company is currently assessing the impact applying this standard will have on its income tax disclosures, the adoption of ASU 2023-09 is not expected to have a material impact on the Company’s consolidated financial statements. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings Per Share | A reconciliation of the component parts of earnings per share for the three months ended March 31, 2024 and 2023 is as follows: (in thousands, except per share data) For the three months ended March 31 2024 2023 Net income $ 12,126 $ 17,746 Weighted average common shares 19,024 19,024 Stock Options and Restricted Stock Units 8 3 Weighted average common shares including potential dilutive shares 19,032 19,027 Basic EPS $ 0.64 $ 0.93 Diluted EPS $ 0.64 $ 0.93 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Benefit Plans [Abstract] | |
Net Periodic Benefit | The table below outlines the components of the Company’s net periodic benefit recognized during the months ended March and for its pension and other postretirement benefit plans: Three March 31 Pension Benefits Other Postretirement Benefits (dollars in thousands) 2024 2023 2024 2023 Service cost $ - $ - $ 5 $ 2 Interest cost 289 302 72 66 Expected return on plan assets (762 ) (680 ) (331 ) (289 ) Amortization of net gain (19 ) - (184 ) (114 ) Amortization of prior service cost - - 3 3 Net periodic benefit $ (492 ) $ (378 ) $ (435 ) $ (332 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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: March 31 2024 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 131,755 $ 4 $ 2,905 $ 128,854 State and political subdivisions 26 - - 26 Mortgage backed securities and collateralized mortgage obligations - residential 254,806 158 27,886 227,078 Corporate bonds 55,078 - 1,737 53,341 Small Business Administration - guaranteed participation securities 17,984 - 1,724 16,260 Other 688 7 13 682 Total Securities Available for Sale $ 460,337 $ 169 $ 34,265 $ 426,241 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair (dollars in thousands) Cost Gains Losses Value U.S. government sponsored enterprises $ 121,728 $ 5 $ 3,065 $ 118,668 State and political subdivisions 26 - - 26 Mortgage backed securities and collateralized mortgage obligations - residential 263,182 270 25,775 237,677 Corporate bonds 80,150 - 2,098 78,052 Small Business Administration - guaranteed participation securities 18,740 - 1,554 17,186 Other 687 11 18 680 Total Securities Available for Sale $ 484,513 $ 286 $ 32,510 $ 452,289 |
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 months ended March 31, 2024 and 2023 are as follows: Three months ended March 31, (dollars in thousands) 2024 2023 Proceeds from sales $ - - Proceeds from calls/paydowns 8,841 14,659 Proceeds from maturities 35,000 - 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: March 31 2024 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,206 49 147 6,108 Total held to maturity $ 6,206 49 147 6,108 December 31, 2023 Gross Gross Amortized Unrecognized Unrecognized Fair (dollars in thousands) Cost Gains Losses Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,458 74 136 6,396 Total held to maturity $ 6,458 74 136 6,396 |
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 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 $ 70,613 $ 69,407 Due after one year through five years 116,934 113,496 Mortgage backed securities and collateralized mortgage obligations - residential 254,806 227,078 Small Business Administration - guaranteed participation securities 17,984 16,260 $ 460,337 $ 426,241 |
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: March 31 2024 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 $ 14,993 7 106,358 2,898 121,351 2,905 Mortgage backed securities and collateralized mortgage obligations - residential 2,907 10 217,331 27,876 220,238 27,886 Corporate bonds - - 53,341 1,737 53,341 1,737 Small Business Administration - guaranteed participation securities - - 16,260 1,724 16,260 1,724 Other - - 637 13 637 13 Total $ 17,900 17 393,927 34,248 411,827 34,265 December 31, 2023 Less than 12 months 12 months or more Total Gross Gross Gross Fair Unreal. Fair Unreal. Fair Unreal. (dollars in thousands) Value Loss Value Loss Value Loss U.S. government sponsored enterprises $ - - 116,163 3,065 116,163 3,065 Mortgage backed securities and collateralized mortgage obligations - residential - - 227,891 25,775 227,891 25,775 Corporate bonds - - 78,052 2,098 78,052 2,098 Small Business Administration - guaranteed participation securities - - 17,186 1,554 17,186 1,554 Other - - 631 18 631 18 Total $ - - 439,923 32,510 439,923 32,510 |
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 (dollars in thousands) Amortized Fair Cost Value Mortgage backed securities and collateralized mortgage obligations - residential $ 6,206 6,108 $ 6,206 6,108 |
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 unrecognized loss position, were as follows: March 31, 2024 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 $ 136 3 2,523 144 2,659 147 Total $ 136 3 2,523 144 2,659 147 December 31, 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 $ 283 3 2,703 133 2,986 136 Total $ 283 3 2,703 133 2,986 136 |
Loan Portfolio and Allowance _2
Loan Portfolio and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Loan Portfolio and Allowance for Credit Losses [Abstract] | |
Recorded Investment in Loans by Portfolio Segment | The following tables presents loans by portfolio segment: March 31, 2024 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 214,158 $ 40,757 $ 254,915 Other 23,536 641 24,177 Real estate mortgage - 1 to 4 family: First mortgages 2,744,294 1,552,257 4,296,551 Home equity loans 44,207 13,611 57,818 Home equity lines of credit 213,754 142,125 355,879 Installment 11,581 4,585 16,166 Total loans, net $ 3,251,530 $ 1,753,976 5,005,506 Less: Allowance for credit losses 49,220 Net loans $ 4,956,286 * Includes New York, New Jersey, Vermont and Massachussetts. December 31, 2023 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 212,754 $ 39,501 $ 252,255 Other 20,863 397 21,260 Real estate mortgage - 1 to 4 family: First mortgages 2,756,914 1,550,191 4,307,105 Home equity loans 44,152 13,806 57,958 Home equity lines of credit 212,298 135,117 347,415 Installment 12,057 4,829 16,886 Total loans, net $ 3,259,038 $ 1,743,841 5,002,879 Less: Allowance for credit losses 48,578 Net loans $ 4,954,301 *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 March 31, 2024 and 2023 is summarized as follows: For the three months ended March 31, 2024 (dollars in thousands) Real Estate Mortgage- Commercial 1 to 4 Family Installment Total Balance at beginning of period $ 2,735 $ 45,625 $ 218 $ 48,578 Loans charged off: New York and other states* - 117 44 161 Florida - - - - Total loan chargeoffs - 117 44 161 Recoveries of loans previously charged off: New York and other states* - 195 8 203 Florida - - - - Total recoveries - 195 8 203 Net loans (recoveries) charged off - (78 ) 36 (42 ) Provision for credit losses 7 592 1 600 Balance at end of period $ 2,742 $ 46,295 $ 183 $ 49,220 * Includes New York, New Jersey, Vermont and Massachusetts For the three months ended March 31, 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* - - 17 17 Florida - - 31 31 Total loan chargeoffs - - 48 48 Recoveries of loans previously charged off: New York and other states* - 53 23 76 Florida - 25 - 25 Total recoveries - 78 23 101 Net loan (recoveries) charged off - (78 ) 25 (53 ) Provision for credit losses 112 417 71 600 Balance at end of period $ 2,708 43,766 211 46,685 * Includes New York, New Jersey, Vermont and Massachusetts. |
Allowance for Credit Losses on Unfunded Commitments | The Company’s activity in the allowance for credit losses on unfunded commitments for the three months ended March 31, 2024 and 2023 is as follows: For the three months ended (In thousands) March 31, 2024 Balance at January 31, 2024 $ 1,662 Provision for credit losses - Balance at March 31, 2024 $ 1,662 For the three (In thousands) months ended March 31, 2023 Balance at January 1, 2023 $ 2,912 (Credit) provision for credit losses (300 ) Balance at March 31, 2023 $ 2,612 |
Risk Category Loans by Class of Loans | As of March 31, 2024 and December 31, 2023, based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs for each loan type by origination year was as follows: (in thousands) As of March 31, 2024 Term Loans Amortized Cost Basis by Origination Year Commercial: 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 10,568 $ 57,315 $ 80,610 $ 23,628 $ 16,206 $ 59,591 $ 5,360 $ - $ 253,278 Special Mention $ - $ - $ 247 $ - $ 37 $ 537 $ - $ - $ 821 Substandard $ - $ - $ - $ - $ - $ 816 $ - $ - $ 816 Total Commercial Loans $ 10,568 $ 57,315 $ 80,857 $ 23,628 $ 16,243 $ 60,944 $ 5,360 $ - $ 254,915 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 1,542 $ 9,170 $ 2,079 $ 1,798 $ 1,329 $ 3,132 $ 4,614 $ - $ 23,664 Special mention $ - $ - $ - $ - $ - $ - $ 38 $ - $ 38 Substandard $ - $ - $ - $ - $ - $ - $ 285 $ - $ 285 Doubtful $ - $ - $ - $ 190 $ - $ - $ - $ - $ 190 Total Commercial Real Estate Loans $ 1,542 $ 9,170 $ 2,079 $ 1,988 $ 1,329 $ 3,132 $ 4,937 $ - $ 24,177 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 49,915 $ 420,073 $ 560,709 $ 865,629 $ 721,417 $ 1,664,927 $ - $ - $ 4,282,670 Nonperforming $ - $ 64 $ 209 $ 539 $ 78 $ 12,991 $ - $ - $ 13,881 Total First Mortgage: $ 49,915 $ 420,137 $ 560,918 $ 866,168 $ 721,495 $ 1,677,918 $ - $ - $ 4,296,551 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 18 $ - $ - $ 18 $ - $ - $ - $ - $ - $ 18 $ - $ - $ 18 Home Equity Loans: Risk rating Performing $ 1,417 $ 9,565 $ 5,884 $ 7,601 $ 5,512 $ 27,515 $ - $ - $ 57,494 Nonperforming $ - $ - $ - $ - $ - $ 324 $ - $ - $ 324 Total Home Equity Loans: $ 1,417 $ 9,565 $ 5,884 $ 7,601 $ 5,512 $ 27,839 $ - $ - $ 57,818 Home Equity Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Lines of Credit: Risk rating Performing $ 812 $ 1,348 $ 712 $ 543 $ 169 $ 15,686 $ 333,534 $ - $ 352,804 Nonperforming $ - $ - $ - $ - $ 56 $ 2,804 $ 215 $ - $ 3,075 Total Home Equity Credit Lines: $ 812 $ 1,348 $ 712 $ 543 $ 225 $ 18,490 $ 333,749 $ - $ 355,879 Home Equity Lines of Credit: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 99 $ - $ - $ 99 $ - $ - $ - $ - $ - $ 99 $ - $ - $ 99 Installments: Risk rating Performing $ 984 $ 7,823 $ 4,148 $ 1,273 $ 289 $ 544 $ 956 $ - $ 16,017 Nonperforming $ - $ - $ 46 $ 36 $ - $ 66 $ 1 $ - $ 149 Total Installments $ 984 $ 7,823 $ 4,194 $ 1,309 $ 289 $ 610 $ 957 $ - $ 16,166 Installments Loans: Current-period Gross writeoffs $ - $ 18 $ 19 $ - $ - $ 7 $ - $ - $ 44 $ - $ 18 $ 19 $ - $ - $ 7 $ - $ - $ 44 (in thousands) As of December 31, 2023 Term Loans Amortized Cost Basis by Origination Year Commercial : 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loan Converted to Term Total Risk rating Pass $ 61,148 $ 82,339 $ 23,940 $ 16,653 $ 19,835 $ 41,153 $ 5,664 $ - $ 250,732 Special Mention - - - 42 - 225 - - 267 Substandard - - - - - 1,256 - - 1,256 Total Commercial Loans $ 61,148 $ 82,339 $ 23,940 $ 16,695 $ 19,835 $ 42,634 $ 5,664 $ - $ 252,255 Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Commercial Other: Risk rating Pass $ 7,873 $ 2,164 $ 1,933 $ 1,386 $ 321 $ 2,641 $ 4,482 $ - $ 20,800 Special mention - - - - - - 34 - 34 Substandard - - 328 - - 98 - - 426 Total Commercial Real Estate Loans $ 7,873 $ 2,164 $ 2,261 $ 1,386 $ 321 $ 2,739 $ 4,516 $ - $ 21,260 Other Commercial Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Residential First Mortgage: Risk rating Performing $ 418,891 $ 566,617 $ 878,015 $ 732,851 $ 342,559 $ 1,354,867 $ - $ - $ 4,293,800 Nonperforming 64 210 383 229 1,119 11,300 - - 13,305 Total First Mortgage: $ 418,955 $ 566,827 $ 878,398 $ 733,080 $ 343,678 $ 1,366,167 $ - $ - $ 4,307,105 Residential First Mortgage Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ 27 $ 336 $ - $ - 363 $ - $ - $ - $ - $ 27 $ 336 $ - $ - $ 363 Home Equity Loans: Risk rating Performing $ 9,660 $ 5,963 $ 7,770 $ 5,668 $ 6,542 $ 22,076 $ - $ - $ 57,679 Nonperforming - - - - - 279 - - 279 Total Home Equity Loans: $ 9,660 $ 5,963 $ 7,770 $ 5,668 $ 6,542 $ 22,355 $ - $ - $ 57,958 Home Equity Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ - $ - $ - - $ - $ - $ - $ - $ - $ - $ - $ - $ - Home Equity Credit Lines: Risk rating Performing $ 355 $ 641 $ 248 $ 75 $ 10 $ 15,964 $ 327,059 $ - $ 344,352 Nonperforming - - 8 56 - 2,813 186 - 3,063 Total Home Equity Credit Lines: $ 355 $ 641 $ 256 $ 131 $ 10 $ 18,777 $ 327,245 $ - $ 347,415 Home Equity Credit Lines Loans: Current-period Gross writeoffs $ - $ - $ - $ - $ - $ 8 $ - $ - 8 $ - $ - $ - $ - $ - $ 8 $ - $ - $ 8 Installments: Risk rating Performing $ 8,473 $ 4,592 $ 1,484 $ 360 $ 198 $ 605 $ 1,008 $ - $ 16,720 Nonperforming - 49 51 - 63 3 - - 166 Total Installments $ 8,473 $ 4,641 $ 1,535 $ 360 $ 261 $ 608 $ 1,008 $ - $ 16,886 Installments Loans: Current-period Gross writeoffs $ 16 $ 67 $ 50 $ 1 $ 21 $ 21 $ - $ - 176 $ 16 $ 67 $ 50 $ 1 $ 21 $ 21 $ - $ - $ 176 |
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 March 31, 2024 and December 31, 2023: As of March 31 2024 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 $ - $ - $ 520 $ 520 $ 213,638 $ 214,158 Other 11 - - 11 23,525 23,536 Real estate mortgage - 1 to 4 family: First mortgages 4,576 1,279 5,873 11,728 2,732,566 2,744,294 Home equity loans 13 89 175 277 43,930 44,207 Home equity lines of credit 383 436 1,578 2,397 211,357 213,754 Installment 38 4 99 141 11,440 11,581 Total $ 5,021 $ 1,808 $ 8,245 $ 15,074 $ 3,236,456 $ 3,251,530 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 $ - $ - $ - $ - $ 40,757 $ 40,757 Other - - 314 314 327 641 Real estate mortgage - 1 to 4 family: First mortgages 956 1,152 1,287 3,395 1,548,862 1,552,257 Home equity loans - 91 6 97 13,514 13,611 Home equity lines of credit 146 - 143 289 141,836 142,125 Installment 6 8 - 14 4,571 4,585 Total $ 1,108 $ 1,251 $ 1,750 $ 4,109 $ 1,749,867 $ 1,753,976 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 $ - $ - $ 520 $ 520 $ 254,395 $ 254,915 Other 11 - 314 325 23,852 24,177 Real estate mortgage - 1 to 4 family: First mortgages 5,532 2,431 7,160 15,123 4,281,428 4,296,551 Home equity loans 13 180 181 374 57,444 57,818 Home equity lines of credit 529 436 1,721 2,686 353,193 355,879 Installment 44 12 99 155 16,011 16,166 Total $ 6,129 $ 3,059 $ 9,995 $ 19,183 $ 4,986,323 $ 5,005,506 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 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 $ - - 521 521 212,233 212,754 Other - 26 - 26 20,837 20,863 Real estate mortgage - 1 to 4 family: First mortgages 4,330 811 6,008 11,149 2,745,765 2,756,914 Home equity loans 20 138 157 315 43,837 44,152 Home equity lines of credit 591 135 1,499 2,225 210,073 212,298 Installment 6 18 95 119 11,938 12,057 Total $ 4,947 1,128 8,280 14,355 3,244,683 3,259,038 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 $ - - - - 39,501 39,501 Other - - 314 314 83 397 Real estate mortgage - 1 to 4 family: First mortgages 1,290 78 1,433 2,801 1,547,390 1,550,191 Home equity loans 73 6 - 79 13,727 13,806 Home equity lines of credit 184 - 56 240 134,877 135,117 Installment 16 - 60 76 4,753 4,829 Total $ 1,563 84 1,863 3,510 1,740,331 1,743,841 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 $ - - 521 521 251,734 252,255 Other - 26 314 340 20,920 21,260 Real estate mortgage - 1 to 4 family: First mortgages 5,620 889 7,441 13,950 4,293,155 4,307,105 Home equity loans 93 144 157 394 57,564 57,958 Home equity lines of credit 775 135 1,555 2,465 344,950 347,415 Installment 22 18 155 195 16,691 16,886 Total $ 6,510 1,212 10,143 17,865 4,985,014 5,002,879 * Includes New York, New Jersey, Vermont and Massachusetts. |
Recorded Investment in Non-Accrual Loans by Loan Class | The following tables present the amortized cost basis in non-accrual loans by portfolio segment: As of March 31 2024 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 532 $ - $ 532 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 11,274 2,607 13,881 Home equity loans 281 43 324 Home equity lines of credit 2,803 272 3,075 Installment 149 - 149 Total non-accrual loans 15,039 3,236 18,275 Restructured real estate mortgages - 1 to 4 family - - - Total nonperforming loans $ 15,039 $ 3,236 $ 18,275 * Includes New York, New Jersey, Vermont and Massachusetts. As of December 31, 2023 (dollars in thousands) New York and other states* Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 536 $ - $ 536 Other - 314 314 Real estate mortgage - 1 to 4 family: First mortgages 11,324 1,981 13,305 Home equity loans 235 44 279 Home equity lines of credit 2,816 247 3,063 Installment 151 15 166 Total non-accrual loans 15,062 2,601 17,663 Restructured real estate mortgages - 1 to 4 family 3 - 3 Total nonperforming loans $ 15,065 $ 2,601 $ 17,666 * 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 March 31, 2024 and December 31, 2023: As of March 31, 2024 (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 $ 532 $ - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 12,785 1,096 - Home equity loans 275 49 - Home equity lines of credit 2,759 316 - Installment 126 19 - Total loans, net $ 16,791 $ 1,480 - 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 $ 536 $ - - Other 314 - - Real estate mortgage - to family: First mortgages 12,584 721 - Home equity loans 271 8 - Home equity lines of credit 2,395 668 - Installment 144 22 - Total loans, net $ 16,244 $ 1,419 - |
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 March 31, 2024 and December 31, 2023: As of March 31 2024 (dollars in thousands) 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 2,742 46,295 183 49,220 Total ending allowance balance $ 2,742 $ 46,295 $ 183 $ 49,220 Loans: Individually evaluated for impairment $ 952 $ 23,769 $ 126 $ 24,847 Collectively evaluated for impairment 278,140 4,686,479 16,040 4,980,659 Total ending loans balance $ 279,092 $ 4,710,248 $ 16,166 $ 5,005,506 As of December 31, 2023 (dollars in thousands) 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 2,735 45,625 218 48,578 Total ending allowance balance $ 2,735 45,625 218 48,578 Loans: Individually evaluated for impairment $ 957 23,628 144 24,729 Collectively evaluated for impairment 272,558 4,688,850 16,742 4,978,150 Total ending loans balance $ 273,515 4,712,478 16,886 5,002,879 |
Amortized Cost of Collateral-dependent Loans by Class | The following tables present the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of March 31, 2024 and December 31, 2023: As of March 31, 2024 Type of Collateral (dollars in thousands) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 638 - - Other 314 - - Real estate mortgage - 1 to 4 family: First mortgages 19,774 - - Home equity loans 373 - - Home equity lines of credit 3,622 - - Installment 126 - - Total $ 24,847 - - As of December Type of Collateral (dollars in s) Real Estate Investment Securities/Cash Other Commercial: Commercial real estate $ 643 - - Other 314 - - Real estate mortgage - to family: First mortgages 20,018 - - Home equity loans 371 - - Home equity lines of credit 3,239 - - Installment 144 - - Total $ 24,729 - - |
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 March 31, 2024 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 - - Home equity loans - - Home equity lines of credit - - Installment - - Total $ - 0.00 % 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 85 0.01 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 85 0.00 % Total Payment % of Total Class (dollars in thousands) Delay of Loans Commercial: Commercial real estate $ - - Other - - Real estate mortgage - 1 to 4 family: First mortgages 85 0.00 % Home equity loans - - Home equity lines of credit - - Installment - - Total $ 85 0.00 % * Includes New York, New Jersey, Vermont and Massachusetts. |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty | The following table describes the performance of loans that have been modified as of March 31, 2024: As of March 31, 2024 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 - - - - - Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ - $ - $ - $ - $ - 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 85 - - - 85 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 85 $ - $ - $ - $ 85 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 85 - - - 85 Home equity loans - - - - - Home equity lines of credit - - - - - Installment - - - - - Total $ 85 $ - $ - $ - $ 85 * Includes New York, New Jersey, Vermont and Massachusetts. |
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 March 31, 2024 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 - Home equity loans - Home equity lines of credit - Installment - Total $ - Weighted Florida: Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 12 Home equity loans - Home equity lines of credit - Installment - Total $ 12 Weighted Average Payment (dollars in thousands) Delay (Months) Commercial: Commercial real estate $ - Other - Real estate mortgage - 1 to 4 family: First mortgages 12 Home equity loans - Home equity lines of credit - Installment - Total $ 12 * Includes New York, New Jersey, Vermont and Massachusetts. |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31 2024 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 $ 128,854 $ - $ 128,854 $ - State and political subdivisions 26 - 26 - Mortgage backed securities and collateralized mortgage obligations - residential 227,078 - 227,078 - Corporate bonds 53,341 - 53,341 - Small Business Administration- guaranteed participation securities 16,260 - 16,260 - Other securities 682 - 682 - Total securities available for sale $ 426,241 $ - $ 426,241 $ - Fair Value Measurements at December 31, 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) Securities available for sale: U.S. government sponsored enterprises $ 118,668 $ - $ 118,668 $ - State and political subdivisions 26 - 26 - Mortgage backed securities and collateralized mortgage obligations - residential 237,677 - 237,677 - Corporate bonds 78,052 - 78,052 - Small Business Administration- guaranteed participation securities 17,186 - 17,186 - Other securities 680 - 680 - Total securities available for sale $ 452,289 $ - $ 452,289 $ - |
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 March 31, 2024 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 $ 2,334 $ - $ - $ 2,334 Sales comparison approach Adjustments for differences between comparable sales 1% - 1% (1 %) Fair Value Measurements at December 31, 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 $ 194 $ - $ - $ 194 Sales comparison approach Adjustments for differences between comparable sales 0% - 39% (20 %) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | In accordance with FASB Topic 825, Financial Instruments March (dollars in thousands) Fair Value Measurements at Carrying March 31 2024 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 609,683 609,683 - - 609,683 Securities available for sale 426,241 - 426,241 - 426,241 Held to maturity securities 6,206 - 6,108 - 6,108 Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,956,286 - - 4,432,000 4,432,000 Accrued interest receivable 14,460 799 2,073 11,588 14,460 Financial liabilities: Demand deposits 742,997 742,997 - - 742,997 Interest bearing deposits 4,612,172 2,708,264 1,886,696 - 4,594,960 Short-term borrowings 94,374 - 94,374 - 94,374 Accrued interest payable 3,900 248 3,652 - 3,900 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2023 Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 578,004 578,004 - - 578,004 Securities available for sale 452,289 - 452,289 - 452,289 Held to maturity securities 6,458 - 6,396 - 6,396 Federal Reserve Bank and Federal Home Loan Bank stock 6,203 N/A N/A N/A N/A Net loans 4,954,301 - - 4,422,027 4,422,027 Accrued interest receivable 13,683 234 1,920 11,529 13,683 Financial liabilities: Demand deposits 754,532 754,532 - - 754,532 Interest bearing deposits 4,596,245 2,760,221 1,819,789 - 4,580,010 Short-term borrowings 88,990 - 88,990 - 88,990 Accrued interest payable 3,612 256 3,356 - 3,612 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax | The following is a summary of the accumulated other comprehensive income loss balances, net of tax: Three months ended March 31, 2024 Amount Other reclassified Other Comprehensive from Accumulated Comprehensive loss- Balance at loss-Before Other Comprehensive Three months ended Balance at (dollars in thousands) 12/31/2023 Reclassifications Loss 3/31/2024 3/31/2024 Net unrealized holding loss on securities available for sale, net of tax $ (23,899 ) (1,378 ) - (1,378 ) (25,277 ) Net change in overfunded position in pension and postretirement plans arising during the year, net of tax 13,476 - - - 13,476 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (2,814 ) - (148 ) (148 ) (2,962 ) Accumulated other comprehensive loss, net of tax $ (13,237 ) (1,378 ) (148 ) (1,526 ) (14,763 ) Three months ended March 31, 2023 Amount Other reclassified Other Comprehensive from Accumulated Comprehensive loss- Balance at loss-Before Other Comprehensive Three months ended Balance at (dollars in thousands) 12/31/2022 Reclassifications Loss 3/31/2023 3/31/2023 Net unrealized holding gain on securities available for sale, net of tax $ (32,271 ) 3,901 - 3,901 (28,370 ) 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 (2,511 ) - (82 ) (82 ) (2,593 ) Accumulated other comprehensive loss, net of tax $ (27,194 ) 3,901 (82 ) 3,819 (23,375 ) |
Reclassifications out of Accumulated Other Comprehensive Loss | The following represents the reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2024 and 2023: (dollars in thousands) Three months ended March 31 2024 2023 Affected Line Item in Financial Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 203 114 Salaries and employee benefits Amortization of prior service cost (3 ) (3 ) Salaries and employee benefits Income tax benefit (52 ) (29 ) Income taxes Net of tax 148 82 Total reclassifications, net of tax $ 148 82 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 ended March 31, 2024 and 2023. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended March 31 2024 2023 Non-interest income Service Charges on Deposits Overdraft fees $ 663 $ 680 Other 511 532 Interchange Income 1,597 1,479 Wealth management fees 1,816 1,774 Other (a) 256 204 Total non-interest income $ 4,843 $ 4,669 (a) |
Operating Leases (Tables)
Operating Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Operating Leases [Abstract] | |
Other Information Related to Leases | Other information related to leases was as follows: (dollars in thousands) Three months ended March 31 2024 2023 Operating lease cost $ 2,097 2,050 Variable lease cost 606 585 Total Lease costs $ 2,703 2,635 |
Supplemental Cash Flows Information | (dollars in thousands) Three months ended March 31 2024 2023 Supplemental cash flows information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,124 2,072 Right-of-use assets obtained in exchange for lease obligations: 759 385 Weighted average remaining lease term 8.4 8.7 years Weighted average discount rate 3.12 % 3.00 % |
Future Minimum Lease Payments | Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: (dollars in thousands) Year ending December 31 2024 (a) $ 6,362 2025 8,156 2026 7,183 2027 5,974 2028 4,786 Thereafter 17,085 Total lease payments $ 49,546 Less: Interest 6,108 Present value of lease liabilities $ 43,438 (a) Excluding the three months ended March 31, 2024. |
Regulatory Capital Requiremen_2
Regulatory Capital Requirements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Regulatory Capital Requirements [Abstract] | |
Actual Capital Amounts and Ratios | The Bank and the Company reported the following capital ratios as of March 31 : (Bank Only) Minimum for As of March 31, 2024 Well Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 640,288 10.427 % 5.000 % 4.000 % Common equity tier 1 capital 640,288 18.505 6.500 7.000 Tier 1 risk-based capital 640,288 18.505 8.000 8.500 Total risk-based capital 683,633 19.758 10.000 10.500 As of December 31, 2023 Well Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Capitalized (1) Buffer (1)(2) Tier 1 leverage ratio $ 636,327 10.428 % 5.000 % 4.000 % Common equity tier 1 capital 636,327 18.280 6.500 7.000 Tier 1 risk-based capital 636,327 18.280 8.000 8.500 Total risk-based capital 679,924 19.532 10.000 10.500 (Consolidated) As of March 31, 2024 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 663,400 10.798 % 4.000 % Common equity tier 1 capital 663,400 19.168 7.000 Tier 1 risk-based capital 663,400 19.168 8.500 Total risk-based capital 706,757 20.421 10.500 As of December 31, 2023 Minimum for Capital Adequacy plus Capital Conservation (dollars in thousands) Amount Ratio Buffer (1)(2) Tier 1 leverage ratio $ 657,968 10.780 % 4.000 % Common equity Tier 1 capital 657,968 18.896 7.000 Tier 1 risk-based capital 657,968 18.896 8.500 Total risk-based capital 701,577 20.149 10.500 (1) Federal regulatory minimum requirements to be considered to be Well Capitalized and Adequately Capitalized (2) The March 31, 2024 and December 31, 2023 common equity tier 1, tier 1 risk-based, and total risk-based capital ratios include a capital conservation buffer of 2.50 percent |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of the component parts of earnings per share [Abstract] | ||
Net income | $ 12,126 | $ 17,746 |
Weighted average common shares (in shares) | 19,024 | 19,024 |
Stock Options and Restricted Stock Units (in shares) | 8 | 3 |
Weighted average common shares including potential dilutive shares (in shares) | 19,032 | 19,027 |
Basic EPS (in dollars per share) | $ 0.64 | $ 0.93 |
Diluted EPS (in dollars per share) | $ 0.64 | $ 0.93 |
Stock Options [Member] | ||
Antidilutive Securities [Abstract] | ||
Number of anti-dilutive stock options excluded from diluted earnings per share (in shares) | 48 | 2 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
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 |
Interest cost | 289 | 302 |
Expected return on plan assets | (762) | (680) |
Amortization of net gain | (19) | 0 |
Amortization of prior service cost | 0 | 0 |
Net periodic benefit | (492) | (378) |
Other Postretirement Benefits [Member] | ||
Components of net periodic benefit cost [Abstract] | ||
Service cost | 5 | 2 |
Interest cost | 72 | 66 |
Expected return on plan assets | (331) | (289) |
Amortization of net gain | (184) | (114) |
Amortization of prior service cost | 3 | 3 |
Net periodic benefit | $ (435) | $ (332) |
Investment Securities, Availabl
Investment Securities, Available-for-sale Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | $ 460,337 | $ 484,513 |
Gross Unrealized Gains | 169 | 286 |
Gross Unrealized Losses | 34,265 | 32,510 |
Fair Value | 426,241 | 452,289 |
U. S. Government Sponsored Enterprises [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 131,755 | 121,728 |
Gross Unrealized Gains | 4 | 5 |
Gross Unrealized Losses | 2,905 | 3,065 |
Fair Value | 128,854 | 118,668 |
State and Political Subdivisions [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 26 | 26 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 26 | 26 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 254,806 | 263,182 |
Gross Unrealized Gains | 158 | 270 |
Gross Unrealized Losses | 27,886 | 25,775 |
Fair Value | 227,078 | 237,677 |
Corporate Bonds [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 55,078 | 80,150 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,737 | 2,098 |
Fair Value | 53,341 | 78,052 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 17,984 | 18,740 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,724 | 1,554 |
Fair Value | 16,260 | 17,186 |
Other [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 688 | 687 |
Gross Unrealized Gains | 7 | 11 |
Gross Unrealized Losses | 13 | 18 |
Fair Value | $ 682 | $ 680 |
Investment Securities, Availa_2
Investment Securities, Available-for-sale Securities, Maturities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized Cost [Abstract] | ||
Due in one year or less | $ 70,613 | |
Due after one year through five years | 116,934 | |
Amortized Cost | 460,337 | $ 484,513 |
Fair Value [Abstract] | ||
Due in one year or less | 69,407 | |
Due in one year through five years | 113,496 | |
Fair Value | 426,241 | 452,289 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 254,806 | |
Amortized Cost | 254,806 | 263,182 |
Fair Value [Abstract] | ||
Securities, fair value | 227,078 | |
Fair Value | 227,078 | 237,677 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 17,984 | |
Amortized Cost | 17,984 | 18,740 |
Fair Value [Abstract] | ||
Securities, fair value | 16,260 | |
Fair Value | $ 16,260 | $ 17,186 |
Investment Securities, Availa_3
Investment Securities, Available-for-sale Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Available for sale securities unrealized loss position - Fair Value [Abstract] | |||
Less than 12 months - Fair Value | $ 17,900 | $ 0 | |
12 months or more - Fair Value | 393,927 | 439,923 | |
Total - Fair Value | 411,827 | 439,923 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 17 | 0 | |
12 months or more - Gross Unrealized Loss | 34,248 | 32,510 | |
Total - Gross Unrealized Loss | 34,265 | 32,510 | |
Available-for-sale, allowance for credit loss | 0 | $ 0 | |
U. S. Government Sponsored Enterprises [Member] | |||
Available for sale securities unrealized loss position - Fair Value [Abstract] | |||
Less than 12 months - Fair Value | 14,993 | 0 | |
12 months or more - Fair Value | 106,358 | 116,163 | |
Total - Fair Value | 121,351 | 116,163 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 7 | 0 | |
12 months or more - Gross Unrealized Loss | 2,898 | 3,065 | |
Total - Gross Unrealized Loss | 2,905 | 3,065 | |
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 | 2,907 | 0 | |
12 months or more - Fair Value | 217,331 | 227,891 | |
Total - Fair Value | 220,238 | 227,891 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 10 | 0 | |
12 months or more - Gross Unrealized Loss | 27,876 | 25,775 | |
Total - Gross Unrealized Loss | 27,886 | 25,775 | |
Corporate Bonds [Member] | |||
Available for sale securities unrealized loss position - Fair Value [Abstract] | |||
Less than 12 months - Fair Value | 0 | 0 | |
12 months or more - Fair Value | 53,341 | 78,052 | |
Total - Fair Value | 53,341 | 78,052 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 0 | 0 | |
12 months or more - Gross Unrealized Loss | 1,737 | 2,098 | |
Total - Gross Unrealized Loss | 1,737 | 2,098 | |
Small Business Administration-Guaranteed Participation Securities [Member] | |||
Available for sale securities unrealized loss position - Fair Value [Abstract] | |||
Less than 12 months - Fair Value | 0 | 0 | |
12 months or more - Fair Value | 16,260 | 17,186 | |
Total - Fair Value | 16,260 | 17,186 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 0 | 0 | |
12 months or more - Gross Unrealized Loss | 1,724 | 1,554 | |
Total - Gross Unrealized Loss | 1,724 | 1,554 | |
Other [Member] | |||
Available for sale securities unrealized loss position - Fair Value [Abstract] | |||
Less than 12 months - Fair Value | 0 | 0 | |
12 months or more - Fair Value | 637 | 631 | |
Total - Fair Value | 637 | 631 | |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | |||
Less than 12 months - Gross Unrealized Loss | 0 | 0 | |
12 months or more - Gross Unrealized Loss | 13 | 18 | |
Total - Gross Unrealized Loss | $ 13 | $ 18 |
Investment Securities, Availa_4
Investment Securities, Available-for-sale Securities, Transaction Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses [Abstract] | ||
Proceeds from sales | $ 0 | $ 0 |
Proceeds from calls/paydowns | 8,841 | 14,659 |
Proceeds from maturities | 35,000 | 0 |
Gross realized gains | 0 | 0 |
Gross realized losses | $ 0 | $ 0 |
Investment Securities, Held-to-
Investment Securities, Held-to-maturity Securities, Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | $ 6,206 | $ 6,458 |
Gross Unrecognized Gains | 49 | 74 |
Gross Unrecognized Losses | 147 | 136 |
Fair Value | 6,108 | 6,396 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | 6,206 | 6,458 |
Gross Unrecognized Gains | 49 | 74 |
Gross Unrecognized Losses | 147 | 136 |
Fair Value | $ 6,108 | $ 6,396 |
Investment Securities, Held-t_2
Investment Securities, Held-to-maturity Securities, Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized Cost [Abstract] | ||
Amortized Cost | $ 6,206 | $ 6,458 |
Fair Value [Abstract] | ||
Fair Value | 6,108 | 6,396 |
Mortgage Backed Securities and Collateralized Mortgage Obligations - Residential [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 6,206 | |
Amortized Cost | 6,206 | 6,458 |
Fair Value [Abstract] | ||
Securities, fair value | 6,108 | |
Fair Value | $ 6,108 | $ 6,396 |
Investment Securities, Held-t_3
Investment Securities, Held-to-maturity Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Unrecognized Loss Position, Fair Value [Abstract] | |||
Less than 12 months - Fair value | $ 136 | $ 283 | |
More than 12 months - Fair value | 2,523 | 2,703 | |
Fair Value | 2,659 | 2,986 | |
Unrecognized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months - Gross Unrecognized Loss | 3 | 3 | |
More than 12 months - Gross Unrecognized Loss | 144 | 133 | |
Gross Unrecognized Losses | 147 | 136 | |
Sales and transfers of held to maturity securities | 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 | 136 | 283 | |
More than 12 months - Fair value | 2,523 | 2,703 | |
Fair Value | 2,659 | 2,986 | |
Unrecognized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months - Gross Unrecognized Loss | 3 | 3 | |
More than 12 months - Gross Unrecognized Loss | 144 | 133 | |
Gross Unrecognized Losses | $ 147 | $ 136 |
Loan Portfolio and Allowance _3
Loan Portfolio and Allowance for Credit Losses, Recorded Investment in Loans by Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | $ 5,005,506 | $ 5,002,879 | |||
Less: Allowance for credit losses | 49,220 | 48,578 | $ 46,685 | $ 46,032 | |
Net loans | 4,956,286 | 4,954,301 | |||
New York and Other States [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | [1] | 3,251,530 | 3,259,038 | ||
Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 1,753,976 | 1,743,841 | |||
Real Estate Construction Loans [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 25,800 | 29,100 | |||
Residential Borrowers [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 7,600 | 8,000 | |||
Commercial Borrowers Residential Purpose [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 18,200 | 21,100 | |||
Commercial [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 279,092 | 273,515 | |||
Less: Allowance for credit losses | 2,742 | 2,735 | 2,708 | 2,596 | |
Commercial [Member] | Commercial Real Estate [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 254,915 | 252,255 | |||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | [1] | 214,158 | 212,754 | ||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 40,757 | 39,501 | |||
Commercial [Member] | Other [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 24,177 | 21,260 | |||
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | [1] | 23,536 | 20,863 | ||
Commercial [Member] | Other [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 641 | 397 | |||
Commercial [Member] | PPP Loans [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 556 | 620 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 4,710,248 | 4,712,478 | |||
Less: Allowance for credit losses | 46,295 | 45,625 | 43,766 | 43,271 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 4,296,551 | 4,307,105 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | [1] | 2,744,294 | 2,756,914 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 1,552,257 | 1,550,191 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 57,818 | 57,958 | |||
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, net | [1] | 44,207 | 44,152 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 13,611 | 13,806 | |||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 355,879 | 347,415 | |||
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, net | [1] | 213,754 | 212,298 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 142,125 | 135,117 | |||
Installment [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | 16,166 | 16,886 | |||
Less: Allowance for credit losses | 183 | 218 | $ 211 | $ 165 | |
Installment [Member] | New York and Other States [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | [1] | 11,581 | 12,057 | ||
Installment [Member] | Florida [Member] | |||||
Loans and Leases Receivable [Abstract] | |||||
Total loans, net | $ 4,585 | $ 4,829 | |||
[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 | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | ||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | $ 48,578 | $ 46,032 | $ 46,032 | |
Loans charged off [Abstract] | ||||
Total loan charge offs | 161 | 48 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 203 | 101 | ||
Net loans (recoveries) charged off | (42) | (53) | ||
Provision for credit losses | 600 | 600 | ||
Balance at end of period | 49,220 | 46,685 | 48,578 | |
Provision (benefit) for credit losses | 600 | 300 | ||
Credit losses on unfunded commitments | 0 | 300 | ||
New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | [1] | 161 | 17 | |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | [1] | 203 | 76 | |
Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 31 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 25 | ||
Commercial [Member] | ||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | 2,735 | 2,596 | 2,596 | |
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 0 | ||
Net loans (recoveries) charged off | 0 | 0 | ||
Provision for credit losses | 7 | 112 | ||
Balance at end of period | 2,742 | 2,708 | 2,735 | |
Commercial [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | [1] | 0 | 0 | |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | [1] | 0 | 0 | |
Commercial [Member] | Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | ||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | 45,625 | 43,271 | 43,271 | |
Loans charged off [Abstract] | ||||
Total loan charge offs | 117 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 195 | 78 | ||
Net loans (recoveries) charged off | (78) | (78) | ||
Provision for credit losses | 592 | 417 | ||
Balance at end of period | 46,295 | 43,766 | 45,625 | |
Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | [1] | 117 | 0 | |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | [1] | 195 | 53 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 0 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 25 | ||
Installment [Member] | ||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | 218 | 165 | 165 | |
Loans charged off [Abstract] | ||||
Total loan charge offs | 44 | 48 | 176 | |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 8 | 23 | ||
Net loans (recoveries) charged off | 36 | 25 | ||
Provision for credit losses | 1 | 71 | ||
Balance at end of period | 183 | 211 | $ 218 | |
Installment [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | [1] | 44 | 17 | |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | [1] | 8 | 23 | |
Installment [Member] | Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 31 | ||
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | $ 0 | $ 0 | ||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _5
Loan Portfolio and Allowance for Credit Losses, Allowance for Credit Losses on Unfunded Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||
Balance at beginning of period | $ 48,578 | $ 46,032 |
(Credit) provision for credit losses | 0 | 300 |
Balance at end of period | 49,220 | 46,685 |
Unfunded Loan Commitment [Member] | ||
Allowance for Credit Losses on Unfunded Commitments [Abstract] | ||
Balance at beginning of period | 1,662 | |
Balance at beginning of period | 2,912 | |
(Credit) provision for credit losses | 0 | (300) |
Balance at end of period | $ 1,662 | $ 2,612 |
Loan Portfolio and Allowance _6
Loan Portfolio and Allowance for Credit Losses, Risk Category of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Credit Risk Profile, Segregated by Class [Abstract] | |||
Total loans | $ 5,005,506 | $ 5,002,879 | |
Current-period Gross writeoffs | 161 | $ 48 | |
Commercial [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
Total loans | 279,092 | 273,515 | |
Current-period Gross writeoffs | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 10,568 | 61,148 | |
2022/2021 | 57,315 | 82,339 | |
2021/2020 | 80,857 | 23,940 | |
2020/2019 | 23,628 | 16,695 | |
2019/2018 | 16,243 | 19,835 | |
Prior | 60,944 | 42,634 | |
Revolving Loans Amortized Cost Basis | 5,360 | 5,664 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 254,915 | 252,255 | |
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] | Commercial Real Estate [Member] | Pass [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 10,568 | 61,148 | |
2022/2021 | 57,315 | 82,339 | |
2021/2020 | 80,610 | 23,940 | |
2020/2019 | 23,628 | 16,653 | |
2019/2018 | 16,206 | 19,835 | |
Prior | 59,591 | 41,153 | |
Revolving Loans Amortized Cost Basis | 5,360 | 5,664 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 253,278 | 250,732 | |
Commercial [Member] | Commercial Real Estate [Member] | Special Mention [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 0 | |
2021/2020 | 247 | 0 | |
2020/2019 | 0 | 42 | |
2019/2018 | 37 | 0 | |
Prior | 537 | 225 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 821 | 267 | |
Commercial [Member] | Commercial Real Estate [Member] | Substandard [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 0 | |
2020/2019 | 0 | 0 | |
2019/2018 | 0 | 0 | |
Prior | 816 | 1,256 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 816 | 1,256 | |
Commercial [Member] | Other [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 1,542 | 7,873 | |
2022/2021 | 9,170 | 2,164 | |
2021/2020 | 2,079 | 2,261 | |
2020/2019 | 1,988 | 1,386 | |
2019/2018 | 1,329 | 321 | |
Prior | 3,132 | 2,739 | |
Revolving Loans Amortized Cost Basis | 4,937 | 4,516 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 24,177 | 21,260 | |
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 | 1,542 | 7,873 | |
2022/2021 | 9,170 | 2,164 | |
2021/2020 | 2,079 | 1,933 | |
2020/2019 | 1,798 | 1,386 | |
2019/2018 | 1,329 | 321 | |
Prior | 3,132 | 2,641 | |
Revolving Loans Amortized Cost Basis | 4,614 | 4,482 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 23,664 | 20,800 | |
Commercial [Member] | Other [Member] | Special Mention [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
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 | 38 | 34 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 38 | 34 | |
Commercial [Member] | Other [Member] | Substandard [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 328 | |
2020/2019 | 0 | 0 | |
2019/2018 | 0 | 0 | |
Prior | 0 | 98 | |
Revolving Loans Amortized Cost Basis | 285 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 285 | 426 | |
Commercial [Member] | Other [Member] | Doubtful [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | ||
2022/2021 | 0 | ||
2021/2020 | 0 | ||
2020/2019 | 190 | ||
2019/2018 | 0 | ||
Prior | 0 | ||
Revolving Loans Amortized Cost Basis | 0 | ||
Revolving Loan Converted to Term | 0 | ||
Total loans | 190 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
Total loans | 4,710,248 | 4,712,478 | |
Current-period Gross writeoffs | 117 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 49,915 | 418,955 | |
2022/2021 | 420,137 | 566,827 | |
2021/2020 | 560,918 | 878,398 | |
2020/2019 | 866,168 | 733,080 | |
2019/2018 | 721,495 | 343,678 | |
Prior | 1,677,918 | 1,366,167 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 4,296,551 | 4,307,105 | |
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 0 | |
2020/2019 | 0 | 0 | |
2019/2018 | 0 | 27 | |
Prior | 18 | 336 | |
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |
Current-period Gross writeoffs | 18 | 363 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Performing [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 49,915 | 418,891 | |
2022/2021 | 420,073 | 566,617 | |
2021/2020 | 560,709 | 878,015 | |
2020/2019 | 865,629 | 732,851 | |
2019/2018 | 721,417 | 342,559 | |
Prior | 1,664,927 | 1,354,867 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 4,282,670 | 4,293,800 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Nonperforming [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | 64 | |
2022/2021 | 64 | 210 | |
2021/2020 | 209 | 383 | |
2020/2019 | 539 | 229 | |
2019/2018 | 78 | 1,119 | |
Prior | 12,991 | 11,300 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 13,881 | 13,305 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 1,417 | 9,660 | |
2022/2021 | 9,565 | 5,963 | |
2021/2020 | 5,884 | 7,770 | |
2020/2019 | 7,601 | 5,668 | |
2019/2018 | 5,512 | 6,542 | |
Prior | 27,839 | 22,355 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 57,818 | 57,958 | |
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 | 1,417 | 9,660 | |
2022/2021 | 9,565 | 5,963 | |
2021/2020 | 5,884 | 7,770 | |
2020/2019 | 7,601 | 5,668 | |
2019/2018 | 5,512 | 6,542 | |
Prior | 27,515 | 22,076 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 57,494 | 57,679 | |
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 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 0 | |
2020/2019 | 0 | 0 | |
2019/2018 | 0 | 0 | |
Prior | 324 | 279 | |
Revolving Loans Amortized Cost Basis | 0 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 324 | 279 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 812 | 355 | |
2022/2021 | 1,348 | 641 | |
2021/2020 | 712 | 256 | |
2020/2019 | 543 | 131 | |
2019/2018 | 225 | 10 | |
Prior | 18,490 | 18,777 | |
Revolving Loans Amortized Cost Basis | 333,749 | 327,245 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 355,879 | 347,415 | |
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 0 | |
2020/2019 | 0 | 0 | |
2019/2018 | 0 | 0 | |
Prior | 99 | 8 | |
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |
Current-period Gross writeoffs | 99 | 8 | |
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 | 812 | 355 | |
2022/2021 | 1,348 | 641 | |
2021/2020 | 712 | 248 | |
2020/2019 | 543 | 75 | |
2019/2018 | 169 | 10 | |
Prior | 15,686 | 15,964 | |
Revolving Loans Amortized Cost Basis | 333,534 | 327,059 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 352,804 | 344,352 | |
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 | |
2022/2021 | 0 | 0 | |
2021/2020 | 0 | 8 | |
2020/2019 | 0 | 56 | |
2019/2018 | 56 | 0 | |
Prior | 2,804 | 2,813 | |
Revolving Loans Amortized Cost Basis | 215 | 186 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 3,075 | 3,063 | |
Installment [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 984 | 8,473 | |
2022/2021 | 7,823 | 4,641 | |
2021/2020 | 4,194 | 1,535 | |
2020/2019 | 1,309 | 360 | |
2019/2018 | 289 | 261 | |
Prior | 610 | 608 | |
Revolving Loans Amortized Cost Basis | 957 | 1,008 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 16,166 | 16,886 | |
2023/2022 | 0 | 16 | |
2022/2021 | 18 | 67 | |
2021/2020 | 19 | 50 | |
2020/2019 | 0 | 1 | |
2019/2018 | 0 | 21 | |
Prior | 7 | 21 | |
Revolving Loans Amortized Cost Basis Writeoffs | 0 | 0 | |
Revolving Loan Converted to Term Writeoffs | 0 | 0 | |
Current-period Gross writeoffs | 44 | $ 48 | 176 |
Installment [Member] | Performing [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 984 | 8,473 | |
2022/2021 | 7,823 | 4,592 | |
2021/2020 | 4,148 | 1,484 | |
2020/2019 | 1,273 | 360 | |
2019/2018 | 289 | 198 | |
Prior | 544 | 605 | |
Revolving Loans Amortized Cost Basis | 956 | 1,008 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | 16,017 | 16,720 | |
Installment [Member] | Nonperforming [Member] | |||
Credit Risk Profile, Segregated by Class [Abstract] | |||
2023/2022 | 0 | 0 | |
2022/2021 | 0 | 49 | |
2021/2020 | 46 | 51 | |
2020/2019 | 36 | 0 | |
2019/2018 | 0 | 63 | |
Prior | 66 | 3 | |
Revolving Loans Amortized Cost Basis | 1 | 0 | |
Revolving Loan Converted to Term | 0 | 0 | |
Total loans | $ 149 | $ 166 |
Loan Portfolio and Allowance _7
Loan Portfolio and Allowance for Credit Losses, Past Due (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | ||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | $ 5,005,506 | $ 5,002,879 | |
Number of days past due | 90 days | ||
Loans that are 90 days past due and still accruing interest | $ 0 | 0 | |
Period of delinquency after which a loan is placed in nonaccrual status | 180 days | ||
New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | $ 3,251,530 | 3,259,038 |
Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,753,976 | 1,743,841 | |
Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 19,183 | 17,865 | |
Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 15,074 | 14,355 |
Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,109 | 3,510 | |
30 - 59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 6,129 | 6,510 | |
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] | 5,021 | 4,947 |
30 - 59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,108 | 1,563 | |
60 - 89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 3,059 | 1,212 | |
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] | 1,808 | 1,128 |
60 - 89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,251 | 84 | |
90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 9,995 | 10,143 | |
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] | 8,245 | 8,280 |
90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,750 | 1,863 | |
Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,986,323 | 4,985,014 | |
Current [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | [1] | 3,236,456 | 3,244,683 |
Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 1,749,867 | 1,740,331 | |
Commercial [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 279,092 | 273,515 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 254,915 | 252,255 | |
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] | 214,158 | 212,754 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 40,757 | 39,501 | |
Commercial [Member] | Commercial Real Estate [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 520 | 521 | |
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] | 520 | 521 |
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 | 520 | 521 | |
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] | 520 | 521 |
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 | 254,395 | 251,734 | |
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] | 213,638 | 212,233 |
Commercial [Member] | Commercial Real Estate [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 40,757 | 39,501 | |
Commercial [Member] | Other [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 24,177 | 21,260 | |
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] | 23,536 | 20,863 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 641 | 397 | |
Commercial [Member] | Other [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 325 | 340 | |
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] | 11 | 26 |
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 | 11 | 0 | |
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] | 11 | 0 |
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 | 0 | 26 | |
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] | 0 | 26 |
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 | 314 | |
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 | 0 |
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 | 23,852 | 20,920 | |
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] | 23,525 | 20,837 |
Commercial [Member] | Other [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 327 | 83 | |
Real Estate Mortgage - 1 to 4 Family [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,710,248 | 4,712,478 | |
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 | 4,296,551 | 4,307,105 | |
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] | 2,744,294 | 2,756,914 |
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 | 1,552,257 | 1,550,191 | |
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 | 15,123 | 13,950 | |
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] | 11,728 | 11,149 |
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 | 3,395 | 2,801 | |
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 | 5,532 | 5,620 | |
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] | 4,576 | 4,330 |
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 | 956 | 1,290 | |
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 | 2,431 | 889 | |
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] | 1,279 | 811 |
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 | 1,152 | 78 | |
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 | 7,160 | 7,441 | |
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] | 5,873 | 6,008 |
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 | 1,287 | 1,433 | |
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 | 4,281,428 | 4,293,155 | |
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] | 2,732,566 | 2,745,765 |
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 | 1,548,862 | 1,547,390 | |
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 | 57,818 | 57,958 | |
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] | 44,207 | 44,152 |
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 | 13,611 | 13,806 | |
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 | 374 | 394 | |
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] | 277 | 315 |
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 | 97 | 79 | |
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 | 13 | 93 | |
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] | 13 | 20 |
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 | 73 | |
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 | 180 | 144 | |
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] | 89 | 138 |
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 | 91 | 6 | |
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 | 181 | 157 | |
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] | 175 | 157 |
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 | 6 | 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 | 57,444 | 57,564 | |
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] | 43,930 | 43,837 |
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 | 13,514 | 13,727 | |
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 | 355,879 | 347,415 | |
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] | 213,754 | 212,298 |
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 | 142,125 | 135,117 | |
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 | 2,686 | 2,465 | |
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] | 2,397 | 2,225 |
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 | 289 | 240 | |
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 | 529 | 775 | |
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] | 383 | 591 |
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 | 146 | 184 | |
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 | 436 | 135 | |
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] | 436 | 135 |
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 | 0 | 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 | 1,721 | 1,555 | |
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] | 1,578 | 1,499 |
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 | 143 | 56 | |
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 | 353,193 | 344,950 | |
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] | 211,357 | 210,073 |
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 | 141,836 | 134,877 | |
Installment [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 16,166 | 16,886 | |
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] | 11,581 | 12,057 |
Installment [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 4,585 | 4,829 | |
Installment [Member] | Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 155 | 195 | |
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] | 141 | 119 |
Installment [Member] | Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 14 | 76 | |
Installment [Member] | 30 - 59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 44 | 22 | |
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] | 38 | 6 |
Installment [Member] | 30 - 59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 6 | 16 | |
Installment [Member] | 60 - 89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 12 | 18 | |
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] | 4 | 18 |
Installment [Member] | 60 - 89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 8 | 0 | |
Installment [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 99 | 155 | |
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] | 99 | 95 |
Installment [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 0 | 60 | |
Installment [Member] | Current [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | 16,011 | 16,691 | |
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] | 11,440 | 11,938 |
Installment [Member] | Current [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Recorded past due loans | $ 4,571 | $ 4,753 | |
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _8
Loan Portfolio and Allowance for Credit Losses, Non-accrual Loans, By Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | $ 18,275 | $ 17,663 | ||
Restructured real estate mortgages - 1 to 4 family | 0 | 3 | ||
Total nonperforming loans | 18,275 | 17,666 | ||
New York and Other States [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | [1] | 15,039 | 15,062 | |
Restructured real estate mortgages - 1 to 4 family | [1] | 0 | 3 | |
Total nonperforming loans | [1] | 15,039 | 15,065 | |
Florida [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | 3,236 | 2,601 | ||
Restructured real estate mortgages - 1 to 4 family | 0 | 0 | ||
Total nonperforming loans | 3,236 | 2,601 | ||
Residential Real Estate [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Other estate owned | 126 | $ 1,900 | ||
Non accrual residential mortgage loans in process of foreclosure | 6,700 | 8,700 | ||
Commercial [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Other estate owned | 2,200 | $ 0 | ||
Commercial [Member] | Commercial Real Estate [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | 532 | 536 | ||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | [1] | 532 | 536 | |
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 | 314 | ||
Commercial [Member] | Other [Member] | New York and Other States [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | [1] | 0 | 0 | |
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 | 13,881 | 13,305 | ||
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] | 11,274 | 11,324 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | 2,607 | 1,981 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | 324 | 279 | ||
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] | 281 | 235 | |
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 | 43 | 44 | ||
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 | 3,075 | 3,063 | ||
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] | 2,803 | 2,816 | |
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 | 272 | 247 | ||
Installment [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | 149 | 166 | ||
Installment [Member] | New York and Other States [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | [1] | 149 | 151 | |
Installment [Member] | Florida [Member] | ||||
Non accrual loans by loan class [Abstract] | ||||
Total non-accrual loans | $ 0 | $ 15 | ||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance _9
Loan Portfolio and Allowance for Credit Losses, Amortized Cost Basis of Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due [Abstract] | ||
Non-accrual With No Allowance for Credit Loss | $ 16,791 | $ 16,244 |
Non-accrual | 1,480 | 1,419 |
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 | 532 | 536 |
Non-accrual | 0 | 0 |
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 | 314 |
Non-accrual | 0 | 0 |
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 | 12,785 | 12,584 |
Non-accrual | 1,096 | 721 |
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 | 275 | 271 |
Non-accrual | 49 | 8 |
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 | 2,759 | 2,395 |
Non-accrual | 316 | 668 |
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 | 126 | 144 |
Non-accrual | 19 | 22 |
Loans Past Due Over 89 Days Still Accruing | $ 0 | $ 0 |
Loan Portfolio and Allowance_10
Loan Portfolio and Allowance for Credit Losses, Based on Impairment Review Method (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Ending allowance balance attributable to loans [Abstract] | ||||
Individually evaluated for impairment | $ 0 | $ 0 | $ 0 | |
Collectively evaluated for impairment | 49,220 | 48,578 | ||
Total ending allowance balance | 49,220 | 48,578 | 46,685 | $ 46,032 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 24,847 | 24,729 | ||
Collectively evaluated for impairment | 4,980,659 | 4,978,150 | ||
Total loans | 5,005,506 | 5,002,879 | ||
Commercial Loans [Member] | ||||
Ending allowance balance attributable to loans [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 2,742 | 2,735 | ||
Total ending allowance balance | 2,742 | 2,735 | 2,708 | 2,596 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 952 | 957 | ||
Collectively evaluated for impairment | 278,140 | 272,558 | ||
Total loans | 279,092 | 273,515 | ||
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 | 46,295 | 45,625 | ||
Total ending allowance balance | 46,295 | 45,625 | 43,766 | 43,271 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 23,769 | 23,628 | ||
Collectively evaluated for impairment | 4,686,479 | 4,688,850 | ||
Total loans | 4,710,248 | 4,712,478 | ||
Installment Loans [Member] | ||||
Ending allowance balance attributable to loans [Abstract] | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 183 | 218 | ||
Total ending allowance balance | 183 | 218 | $ 211 | $ 165 |
Loans [Abstract] | ||||
Individually evaluated for impairment | 126 | 144 | ||
Collectively evaluated for impairment | 16,040 | 16,742 | ||
Total loans | $ 16,166 | $ 16,886 |
Loan Portfolio and Allowance_11
Loan Portfolio and Allowance for Credit Losses, Type of Collateral Dependent Loans by Portfolio Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Loans and Leases Receivable [Abstract] | ||
Total loans, net | $ 5,005,506 | $ 5,002,879 |
Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 24,847 | 24,729 |
Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Commercial [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 279,092 | 273,515 |
Commercial [Member] | Commercial Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 254,915 | 252,255 |
Commercial [Member] | Commercial Real Estate [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 638 | 643 |
Commercial [Member] | Commercial Real Estate [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Commercial [Member] | Commercial Real Estate [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Commercial [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 24,177 | 21,260 |
Commercial [Member] | Other [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 314 | 314 |
Commercial [Member] | Other [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Commercial [Member] | Other [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 4,710,248 | 4,712,478 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 4,296,551 | 4,307,105 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 19,774 | 20,018 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 57,818 | 57,958 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 373 | 371 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 355,879 | 347,415 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 3,622 | 3,239 |
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, net | 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, net | 0 | 0 |
Installment [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 16,166 | 16,886 |
Installment [Member] | Real Estate [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 126 | 144 |
Installment [Member] | Investment Securities/Cash [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | 0 | 0 |
Installment [Member] | Other [Member] | ||
Loans and Leases Receivable [Abstract] | ||
Total loans, net | $ 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 | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications classifications from previously performing loans | $ 8,100 | $ 8,800 | |
Loan modifications | $ 85 | $ 0 | |
Financing Receivable Modifications [Abstract] | |||
% of Total Class of Financing Receivable | 0% | ||
New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | $ 0 | |
Financing Receivable Modifications [Abstract] | |||
% of Total Class of Financing Receivable | [1] | 0% | |
Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | $ 85 | ||
Financing Receivable Modifications [Abstract] | |||
% of Total Class of Financing Receivable | 0% | ||
Commercial [Member] | Commercial Real Estate [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | $ 0 | ||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Commercial [Member] | Other [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | 0 | |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | $ 85 | ||
Financing Receivable Modifications [Abstract] | |||
% of Total Class of Financing Receivable | 0% | ||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | $ 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | $ 85 | ||
Financing Receivable Modifications [Abstract] | |||
% of Total Class of Financing Receivable | 0.01% | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | $ 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Installment [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Installment [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | [1] | 0 | |
Installment [Member] | Florida [Member] | |||
Financing Receivable Modifications Information [Abstract] | |||
Loan modifications | 0 | ||
Payment Delay [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 85 | ||
Payment Delay [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | [1] | 0 | |
Payment Delay [Member] | Florida [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 85 | ||
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | [1] | 0 | |
Payment Delay [Member] | Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
Payment Delay [Member] | Commercial [Member] | Other [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
Payment Delay [Member] | Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | [1] | 0 | |
Payment Delay [Member] | Commercial [Member] | Other [Member] | Florida [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 85 | ||
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 | [1] | 0 | |
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 85 | ||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 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 | [1] | 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 | ||
Payment Delay [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
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 | [1] | 0 | |
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 | ||
Payment Delay [Member] | Installment [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | 0 | ||
Payment Delay [Member] | Installment [Member] | New York and Other States [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | [1] | 0 | |
Payment Delay [Member] | Installment [Member] | Florida [Member] | |||
Financing Receivable Modifications [Abstract] | |||
Loans modified | $ 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) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 | |
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | $ 85 | $ 0 | |
New York and Other States [Member] | |||
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | [1] | 0 | |
Florida [Member] | |||
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | 85 | ||
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 | [1] | 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 | [1] | 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 | [1] | 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 | 85 | ||
Current [Member] | New York and Other States [Member] | |||
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | [1] | 0 | |
Current [Member] | Florida [Member] | |||
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | 85 | ||
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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | 85 | ||
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 | [1] | 0 | |
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 | 85 | ||
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 | [1] | 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 | [1] | 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 | [1] | 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 | 85 | ||
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 | [1] | 0 | |
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 | 85 | ||
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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | 0 | ||
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 | [1] | 0 | |
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 | [1] | 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 | [1] | 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 | [1] | 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 | 0 | ||
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 | [1] | 0 | |
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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 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 | [1] | 0 | |
Installment [Member] | Current [Member] | Florida [Member] | |||
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty [Abstract] | |||
Performance of modified loans | $ 0 | ||
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance_14
Loan Portfolio and Allowance for Credit Losses, Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty (Details) - Payment Delay [Member] | 3 Months Ended | |
Mar. 31, 2024 | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted average term | 12 months | |
Florida [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted average term | 12 months | [1] |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted average term | 12 months | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty [Abstract] | ||
Weighted average term | 12 months | [1] |
[1]Includes New York, New Jersey, Vermont and Massachusetts. |
Loan Portfolio and Allowance_15
Loan Portfolio and Allowance for Credit Losses, Loan Modifications (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable Modifications Information [Abstract] | ||
Number of loans defaulted from loan modifications within last 12 months | $ 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 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available for sale [Abstract] | ||
Fair Value | $ 426,241 | $ 452,289 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale [Abstract] | ||
Fair Value | 426,241 | 452,289 |
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 | 426,241 | 452,289 |
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 | 0 | 0 |
Fair Value | 0 | 0 |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale [Abstract] | ||
U.S. government sponsored enterprises | 128,854 | 118,668 |
State and political subdivisions | 26 | 26 |
Mortgage backed securities and collateralized mortgage obligations - residential | 227,078 | 237,677 |
Corporate bonds | 53,341 | 78,052 |
Small Business Administration - guaranteed participation securities | 16,260 | 17,186 |
Other securities | 682 | 680 |
Fair Value | 426,241 | 452,289 |
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 | 128,854 | 118,668 |
State and political subdivisions | 26 | 26 |
Mortgage backed securities and collateralized mortgage obligations - residential | 227,078 | 237,677 |
Corporate bonds | 53,341 | 78,052 |
Small Business Administration - guaranteed participation securities | 16,260 | 17,186 |
Other securities | 682 | 680 |
Fair Value | $ 426,241 | $ 452,289 |
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 | 12 Months Ended |
Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | |
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned, Valuation Technique [Extensible List] | us-gaap:MarketApproachValuationTechniqueMember | us-gaap:MarketApproachValuationTechniqueMember |
Other real estate owned, Measurement Input [Extensible List] | us-gaap:MeasurementInputComparabilityAdjustmentMember | us-gaap:MeasurementInputComparabilityAdjustmentMember |
Impaired loans | $ 24,800 | $ 24,700 |
Valuation charge on other real estate owned | 0 | 143 |
Collateral dependent impaired loans | 0 | 0 |
Valuation allowance | 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 |
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 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned | $ 2,334 | $ 194 |
Nonrecurring [Member] | Minimum [Member] | ||
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned, unobservable inputs | 0.01 | 0 |
Nonrecurring [Member] | Maximum [Member] | ||
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned, unobservable inputs | 0.01 | 0.39 |
Nonrecurring [Member] | Weighted Average [Member] | ||
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned, unobservable inputs | 0.01 | 0.20 |
Nonrecurring [Member] | Carrying Value [Member] | ||
Assets measured at fair value on a non-recurring basis [Abstract] | ||
Other real estate owned | $ 2,334 | $ 194 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments, Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financial assets [Abstract] | ||
Cash and cash equivalents | $ 609,683 | $ 578,004 |
Securities available for sale | 426,241 | 452,289 |
Held to maturity securities | 6,108 | 6,396 |
Net loans | 4,432,000 | 4,422,027 |
Accrued interest receivable | 14,460 | 13,683 |
Financial liabilities [Abstract] | ||
Demand deposits | 742,997 | 754,532 |
Interest bearing deposits | 4,594,960 | 4,580,010 |
Short-term borrowings | 94,374 | 88,990 |
Accrued interest payable | 3,900 | 3,612 |
Level 1 [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 609,683 | 578,004 |
Securities available for sale | 0 | 0 |
Held to maturity securities | 0 | 0 |
Net loans | 0 | 0 |
Accrued interest receivable | 799 | 234 |
Financial liabilities [Abstract] | ||
Demand deposits | 742,997 | 754,532 |
Interest bearing deposits | 2,708,264 | 2,760,221 |
Short-term borrowings | 0 | 0 |
Accrued interest payable | 248 | 256 |
Level 2 [Member] | ||
Financial assets [Abstract] | ||
Cash and cash equivalents | 0 | 0 |
Securities available for sale | 426,241 | 452,289 |
Held to maturity securities | 6,108 | 6,396 |
Net loans | 0 | 0 |
Accrued interest receivable | 2,073 | 1,920 |
Financial liabilities [Abstract] | ||
Demand deposits | 0 | 0 |
Interest bearing deposits | 1,886,696 | 1,819,789 |
Short-term borrowings | 94,374 | 88,990 |
Accrued interest payable | 3,652 | 3,356 |
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 | 4,432,000 | 4,422,027 |
Accrued interest receivable | 11,588 | 11,529 |
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 | 609,683 | 578,004 |
Securities available for sale | 426,241 | 452,289 |
Held to maturity securities | 6,206 | 6,458 |
Federal Reserve Bank and Federal Home Loan Bank stock | 6,203 | 6,203 |
Net loans | 4,956,286 | 4,954,301 |
Accrued interest receivable | 14,460 | 13,683 |
Financial liabilities [Abstract] | ||
Demand deposits | 742,997 | 754,532 |
Interest bearing deposits | 4,612,172 | 4,596,245 |
Short-term borrowings | 94,374 | 88,990 |
Accrued interest payable | $ 3,900 | $ 3,612 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss, Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance | $ 645,285 | $ 599,987 |
Other comprehensive loss - before reclassifications | (1,378) | 3,901 |
Amount reclassified from accumulated other comprehensive income | (148) | (82) |
Other comprehensive (loss) income, net of tax | (1,526) | 3,819 |
Balance | 649,190 | 614,703 |
Accumulated Other Comprehensive Loss [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance | (13,237) | (27,194) |
Other comprehensive (loss) income, net of tax | (1,526) | 3,819 |
Balance | (14,763) | (23,375) |
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 | (23,899) | (32,271) |
Other comprehensive loss - before reclassifications | (1,378) | 3,901 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 |
Other comprehensive (loss) income, net of tax | (1,378) | 3,901 |
Balance | (25,277) | (28,370) |
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 | 13,476 | 7,588 |
Other comprehensive loss - before reclassifications | 0 | 0 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 |
Other comprehensive (loss) income, net of tax | 0 | 0 |
Balance | 13,476 | 7,588 |
Net Change in Net Actuarial Gain and Prior Service Cost on Pension and Postretirement Benefit Plans, Net of Tax [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||
Balance | (2,814) | (2,511) |
Other comprehensive loss - before reclassifications | 0 | 0 |
Amount reclassified from accumulated other comprehensive income | (148) | (82) |
Other comprehensive (loss) income, net of tax | (148) | (82) |
Balance | $ (2,962) | $ (2,593) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss, Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||
Salaries and employee benefits | $ 11,427 | $ 13,283 |
Income tax benefit | 3,792 | 5,909 |
Net of tax | 12,126 | 17,746 |
Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||
Net of tax | 148 | 82 |
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 | (52) | (29) |
Net of tax | 148 | 82 |
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 | 203 | 114 |
Amortization of Prior Service Cost [Member] | Reclassification Out of Accumulated Other Comprehensive Loss [Member] | ||
Reclassification Adjustment Out of Accumulated Other Comprehensive Loss [Abstract] | ||
Salaries and employee benefits | $ (3) | $ (3) |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Sources of non-interest income [Abstract] | |||
Other | [1] | $ 256 | $ 204 |
Total non-interest income | 4,843 | 4,669 | |
Overdraft Fees [Member] | |||
Sources of non-interest income [Abstract] | |||
Non-interest income | 663 | 680 | |
Other [Member] | |||
Sources of non-interest income [Abstract] | |||
Non-interest income | 511 | 532 | |
Interchange Income [Member] | |||
Sources of non-interest income [Abstract] | |||
Non-interest income | 1,597 | 1,479 | |
Wealth Management Fees [Member] | |||
Sources of non-interest income [Abstract] | |||
Non-interest income | $ 1,816 | $ 1,774 | |
[1]Not within the scope of ASC 606. |
Operating Leases (Details)
Operating Leases (Details) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2024 USD ($) Property Lease | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | ||
Leases, operating [Abstract] | ||||
Number of lease for which construction not started | Lease | 0 | |||
Other information related to leases [Abstract] | ||||
Operating lease cost | $ 2,097 | $ 2,050 | ||
Variable lease cost | 606 | 585 | ||
Total Lease costs | 2,703 | 2,635 | ||
Cash paid for amounts included in the measurement of lease liabilities [Abstract] | ||||
Operating cash flows from operating leases | 2,124 | 2,072 | ||
Right-of-use assets obtained in exchange for lease obligations: | $ 759 | $ 385 | ||
Weighted average remaining lease term | 8 years 4 months 24 days | 8 years 8 months 12 days | ||
Weighted average discount rate | 3.12% | 3% | ||
Future minimum lease payments under non-cancellable leases [Abstract] | ||||
2024 | [1] | $ 6,362 | ||
2025 | 8,156 | |||
2026 | 7,183 | |||
2027 | 5,974 | |||
2028 | 4,786 | |||
Thereafter | 17,085 | |||
Total lease payments | 49,546 | |||
Less: Interest | 6,108 | |||
Present value of lease liabilities | 43,438 | $ 44,471 | ||
Director [Member] | ||||
Future minimum lease payments under non-cancellable leases [Abstract] | ||||
Total lease payments | 2,600 | |||
Less: Interest | $ 292 | |||
Number of properties under lease owned by related party | Property | 5 | |||
Minimum [Member] | ||||
Leases, operating [Abstract] | ||||
Operating lease expiration term | 2 months | |||
Maximum [Member] | ||||
Leases, operating [Abstract] | ||||
Operating lease expiration term | 20 years 6 months | |||
[1]Excluding the three months ended March 31, 2024. |
Regulatory Capital Requiremen_3
Regulatory Capital Requirements (Details) $ in Thousands | Mar. 31, 2024 USD ($) Classification | Dec. 31, 2023 USD ($) | |
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 | $ 640,288 | $ 636,327 | |
Common equity Tier 1 capital | 640,288 | 636,327 | |
Tier 1 risk-based capital | 640,288 | 636,327 | |
Total risk-based capital | $ 683,633 | $ 679,924 | |
Risk Based Ratios [Abstract] | |||
Tier 1 leverage ratio, ratio | 0.10427 | 0.10428 | |
Common equity Tier 1 capital, ratio | 0.18505 | 0.1828 | |
Tier 1 risk-based capital, ratio | 0.18505 | 0.1828 | |
Total risk-based capital, ratio | 0.19758 | 0.19532 | |
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 | $ 663,400 | $ 657,968 | |
Common equity Tier 1 capital | 663,400 | 657,968 | |
Tier 1 risk-based capital | 663,400 | 657,968 | |
Total risk-based capital | $ 706,757 | $ 701,577 | |
Risk Based Ratios [Abstract] | |||
Tier 1 leverage ratio, ratio | 0.10798 | 0.1078 | |
Common equity Tier 1 capital, ratio | 0.19168 | 0.18896 | |
Tier 1 risk-based capital, ratio | 0.19168 | 0.18896 | |
Total risk-based capital, ratio | 0.20421 | 0.20149 | |
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 March 31, 2024 and December 31, 2023 common equity tier 1, tier 1 risk-based, and total risk-based capital ratios include a capital conservation buffer of 2.50 percent |