Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 30, 2018 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | TRUSTCO BANK CORP N Y | |
Entity Central Index Key | 357,301 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 96,541,011 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 38,956 | $ 36,662 | $ 77,047 | $ 72,706 |
Interest and dividends on securities available for sale: | ||||
U. S. government sponsored enterprises | 787 | 607 | 1,537 | 1,202 |
State and political subdivisions | 6 | 11 | 13 | 23 |
Mortgage-backed securities and collateralized mortgage obligations | 1,670 | 1,965 | 3,475 | 3,946 |
Corporate bonds | 150 | 154 | 283 | 305 |
Small Business Administration-guaranteed participation securities | 333 | 394 | 685 | 809 |
Other securities | 4 | 4 | 9 | 8 |
Total interest and dividends on securities available for sale | 2,950 | 3,135 | 6,002 | 6,293 |
Interest on held to maturity securities: | ||||
Mortgage-backed securities and collateralized mortgage obligations-residential | 244 | 296 | 504 | 612 |
Corporate bonds | 0 | 154 | 0 | 308 |
Total interest on held to maturity securities | 244 | 450 | 504 | 920 |
Federal Reserve Bank and Federal Home Loan Bank stock | 198 | 134 | 275 | 268 |
Interest on federal funds sold and other short-term investments | 2,467 | 1,727 | 4,484 | 2,973 |
Total interest income | 44,815 | 42,108 | 88,312 | 83,160 |
Interest on deposits: | ||||
Interest-bearing checking | 112 | 134 | 218 | 258 |
Savings | 420 | 435 | 839 | 865 |
Money market deposit accounts | 452 | 468 | 891 | 934 |
Time deposits | 3,439 | 2,181 | 6,299 | 4,464 |
Interest on short-term borrowings | 283 | 349 | 641 | 698 |
Total interest expense | 4,706 | 3,567 | 8,888 | 7,219 |
Net interest income | 40,109 | 38,541 | 79,424 | 75,941 |
Provision for loan losses | 300 | 550 | 600 | 1,150 |
Net interest income after provision for loan losses | 39,809 | 37,991 | 78,824 | 74,791 |
Noninterest income: | ||||
Trustco financial services income | 1,596 | 1,425 | 3,411 | 3,283 |
Fees for Services to Customers | 2,677 | 2,797 | 5,322 | 5,434 |
Other | 222 | 282 | 441 | 514 |
Total noninterest income | 4,495 | 4,504 | 9,174 | 9,231 |
Noninterest expenses: | ||||
Salaries and employee benefits | 10,741 | 9,559 | 21,163 | 19,769 |
Net occupancy expense | 4,101 | 4,267 | 8,416 | 8,376 |
Equipment expense | 1,793 | 1,428 | 3,544 | 2,984 |
Professional services | 1,814 | 1,963 | 3,244 | 3,891 |
Outsourced services | 1,825 | 1,500 | 3,750 | 3,000 |
Advertising expense | 670 | 607 | 1,300 | 1,320 |
FDIC and other insurance | 514 | 1,012 | 1,537 | 2,059 |
Other real estate income net | (4) | |||
Other real estate expense net | 294 | 666 | 495 | |
Other | 2,343 | 2,581 | 4,630 | 5,038 |
Total noninterest expenses | 24,095 | 22,913 | 48,250 | 46,932 |
Income before taxes | 20,209 | 19,582 | 39,748 | 37,090 |
Income taxes | 4,804 | 7,342 | 9,535 | 13,903 |
Net income | $ 15,405 | $ 12,240 | $ 30,213 | $ 23,187 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.160 | $ 0.127 | $ 0.313 | $ 0.242 |
Diluted (in dollars per share) | $ 0.160 | $ 0.127 | $ 0.313 | $ 0.241 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||||
Net income | $ 15,405 | $ 12,240 | $ 30,213 | $ 23,187 |
Net unrealized holding (loss) gain on securities available for sale | (1,669) | 3,343 | (8,830) | 4,522 |
Tax effect | 425 | (1,337) | 2,284 | (1,809) |
Net unrealized (loss) gain on securities available for sale, net of tax | (1,244) | 2,006 | (6,546) | 2,713 |
Amortization of net actuarial gain | (106) | (73) | (178) | (136) |
Amortization of prior service cost | 22 | 22 | 45 | 45 |
Tax effect | 22 | 20 | 35 | 36 |
Amortization of net actuarial gain and prior service cost on pension and postretirement plans, net of tax | (62) | (31) | (98) | (55) |
Other comprehensive (loss) income, net of tax | (1,306) | 1,975 | (6,644) | 2,658 |
Comprehensive income | $ 14,099 | $ 14,215 | $ 23,569 | $ 25,845 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Cash and due from banks | $ 40,567 | $ 44,125 |
Federal funds sold and other short term investments | 546,049 | 568,615 |
Total cash and cash equivalents | 586,616 | 612,740 |
Securities available for sale | 527,018 | 571,965 |
Held to maturity securities (fair value 2018 $25,303; 2017 $28,701) | 24,730 | 27,551 |
Federal Reserve Bank and Federal Home Loan Bank stock | 8,953 | 8,779 |
Loans, net of deferred net costs | 3,741,155 | 3,636,407 |
Less: Allowance for loan losses | 44,503 | 44,170 |
Net loans | 3,696,652 | 3,592,237 |
Bank premises and equipment, net | 35,521 | 35,157 |
Other assets | 61,069 | 59,579 |
Total assets | 4,940,559 | 4,908,008 |
Deposits: | ||
Demand | 404,564 | 398,399 |
Interest-bearing checking | 925,295 | 891,052 |
Savings accounts | 1,257,744 | 1,260,447 |
Money market deposit accounts | 512,453 | 556,462 |
Time deposits | 1,155,214 | 1,066,966 |
Total deposits | 4,255,270 | 4,173,326 |
Short-term borrowings | 182,705 | 242,991 |
Accrued expenses and other liabilities | 31,769 | 33,383 |
Total liabilities | 4,469,744 | 4,449,700 |
SHAREHOLDERS' EQUITY: | ||
Capital stock par value $1; 150,000,000 shares authorized; 100,093,682 and 99,998,482 shares issued at June 30, 2018 and December 31, 2017, respectively | 100,093 | 99,998 |
Surplus | 176,243 | 175,651 |
Undivided profits | 238,342 | 219,436 |
Accumulated other comprehensive loss, net of tax | (9,796) | (1,806) |
Treasury stock at cost - 3,618,599 and 3,709,171 shares at June 30, 2018 and December 31, 2017, respectively | (34,067) | (34,971) |
Total shareholders' equity | 470,815 | 458,308 |
Total liabilities and shareholders' equity | $ 4,940,559 | $ 4,908,008 |
Consolidated Statements of Fin5
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS: | ||
Held to maturity securities, fair value | $ 25,303 | $ 28,701 |
SHAREHOLDERS' EQUITY: | ||
Capital stock, par value (in dollars per share) | $ 1 | $ 1 |
Capital stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Capital stock, shares issued (in shares) | 100,093,682 | 99,998,482 |
Treasury stock, at cost (in shares) | 3,618,599 | 3,709,171 |
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) Income [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2016 | $ 99,214 | $ 171,425 | $ 201,517 | $ (6,251) | $ (33,219) | $ 432,686 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 0 | 0 | 23,187 | 0 | 0 | 23,187 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 2,658 | 0 | 2,658 |
Cash dividend declared | 0 | 0 | (12,592) | 0 | 0 | (12,592) |
Stock options exercised | 297 | 1,298 | 0 | 0 | 0 | 1,595 |
Purchase of treasury stock | 0 | 0 | 0 | 0 | (1,503) | (1,503) |
Sale of treasury stock | 0 | (199) | 0 | 0 | 1,455 | 1,256 |
Stock based compensation expense | 0 | 79 | 0 | 0 | 0 | 79 |
Balance at Jun. 30, 2017 | 99,511 | 172,603 | 212,112 | (3,593) | (33,267) | 447,366 |
Balance at Mar. 31, 2017 | (5,568) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 12,240 | |||||
Other comprehensive income (loss), net of tax | 1,975 | |||||
Balance at Jun. 30, 2017 | 99,511 | 172,603 | 212,112 | (3,593) | (33,267) | 447,366 |
Balance at Dec. 31, 2017 | 99,998 | 175,651 | 219,436 | (1,806) | (34,971) | 458,308 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 0 | 0 | 30,213 | 0 | 0 | 30,213 |
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | 0 | 0 | 1,346 | (1,346) | 0 | 0 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | (6,644) | 0 | (6,644) |
Cash dividend declared | 0 | 0 | (12,653) | 0 | 0 | (12,653) |
Stock options exercised | 95 | 608 | 0 | 0 | 0 | 703 |
Purchase of treasury stock | 0 | 0 | 0 | 0 | (379) | (379) |
Sale of treasury stock | 0 | (93) | 0 | 0 | 1,283 | 1,190 |
Stock based compensation expense | 0 | 77 | 0 | 0 | 0 | 77 |
Balance at Jun. 30, 2018 | 100,093 | 176,243 | 238,342 | (9,796) | (34,067) | 470,815 |
Balance at Mar. 31, 2018 | (8,490) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 15,405 | |||||
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | (1,346) | |||||
Other comprehensive income (loss), net of tax | (1,306) | |||||
Balance at Jun. 30, 2018 | $ 100,093 | $ 176,243 | $ 238,342 | $ (9,796) | $ (34,067) | $ 470,815 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) [Abstract] | ||
Cash dividend declared (in dollars per share) | $ 0.1312 | $ 0.1312 |
Stock options exercised (in shares) | 95,200 | 296,300 |
Purchase of treasury stock (in shares) | 45,509 | 213,356 |
Sale of treasury stock (in shares) | 136,081 | 151,762 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 30,213 | $ 23,187 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,946 | 1,898 |
Net gain on sale of other real estate owned | (220) | (507) |
Writedown of other real estate owned | 230 | 362 |
Provision for loan losses | 600 | 1,150 |
Deferred tax expense | 70 | 693 |
Net amortization of securities | 1,725 | 2,244 |
Stock based compensation expense | 77 | 79 |
Decrease in taxes receivable | 1,311 | 4,087 |
Increase (decrease) in interest receivable | 112 | (213) |
Increase (decrease) in interest payable | 158 | (64) |
Increase in other assets | (1,439) | (1,639) |
(Decrease) increase in accrued expenses and other liabilities | (1,784) | 910 |
Total adjustments | 2,786 | 9,000 |
Net cash provided by operating activities | 32,999 | 32,187 |
Cash flows from investing activities: | ||
Proceeds from sales and calls of securities available for sale | 49,481 | 73,569 |
Proceeds from calls and maturities of held to maturity securities | 2,821 | 4,282 |
Purchases of securities available for sale | (60,088) | (56,388) |
Proceeds from maturities of securities available for sale | 45,000 | 0 |
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock | (174) | (144) |
Net increase in loans | (106,869) | (80,030) |
Proceeds from dispositions of other real estate owned | 2,521 | 3,093 |
Purchases of bank premises and equipment | (2,310) | (1,606) |
Net cash used in investing activities | (69,618) | (57,224) |
Cash flows from financing activities: | ||
Net increase in deposits | 81,944 | 12,251 |
Net (decrease) increase in short-term borrowings | (60,286) | 24,215 |
Proceeds from exercise of stock options | 703 | 1,595 |
Stock based award tax withholding payments | (37) | (333) |
Proceeds from sale of treasury stock | 1,190 | 1,256 |
Purchases of treasury stock | (379) | (1,503) |
Dividends paid | (12,640) | (12,575) |
Net cash provided by financing activities | 10,495 | 24,906 |
Net decrease in cash and cash equivalents | (26,124) | (131) |
Cash and cash equivalents at beginning of period | 612,740 | 707,274 |
Cash and cash equivalents at end of period | 586,616 | 707,143 |
Cash paid during the year for: | ||
Interest paid | 4,549 | 7,283 |
Income taxes paid | 6,524 | 9,808 |
Other non cash items: | ||
Transfer of loans to other real estate owned | 1,854 | 2,265 |
Increase in dividends payable | 13 | 17 |
Change in unrealized gain on securities available for sale-gross of deferred taxes | (8,830) | 4,522 |
Change in deferred tax effect on unrealized gain (loss) on securities available for sale | 2,284 | (1,809) |
Amortization of net actuarial gain and prior service cost on pension and postretirement plans | (133) | (91) |
Change in deferred tax effect of amortization of net actuarial (gain) loss and prior service cost on pension and postretirement plans | $ 35 | $ 36 |
Financial Statement Presentatio
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2018 | |
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 subsidiaries after elimination of all significant intercompany accounts and transactions. Prior period amounts are reclassified when necessary to conform to the current period presentation. The net income reported for the three and six months ended June 30, 2018 is not necessarily indicative of the results that may be expected for the year ending December 31, 2018, or any interim periods. These financial statements consider events that occurred through the date of filing. In the opinion of the management of the Company, the accompanying unaudited Consolidated Interim Financial Statements contain all recurring adjustments necessary to present fairly the financial position as of June 30, 2018, the results of operations and cash flows for the three and six months ended June 30, 2018 and 2017. The accompanying 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, 2017. The accompanying consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2018 | |
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 (in thousands, except per share data) Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Net income $ 15,405 12,240 $ 30,213 23,187 Weighted average common shares 96,449 96,003 96,401 95,944 Effect of dilutive common stock options 131 70 134 90 Weighted average common shares including potential dilutive shares 96,580 96,073 96,535 96,034 Basic EPS $ 0.160 0.127 $ 0.313 0.242 Diluted EPS $ 0.160 0.127 $ 0.313 0.241 For the three and six months ended June 30, 2018, there were no weighted average number of antidilutive stock options excluded from diluted earnings per share. For the three and six months ended June 30, 2017 the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 412 thousand. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented. |
Benefit Plans
Benefit Plans | 6 Months Ended |
Jun. 30, 2018 | |
Benefit Plans [Abstract] | |
Benefit Plans | (3) Benefit Plans The table below outlines the components of the Company’s net periodic benefit recognized during the three and six months ended June 30, 2018 and 2017 for its pension and other postretirement benefit plans: Three months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2018 2017 2018 2017 Service cost $ 6 11 26 23 Interest cost 273 322 55 54 Expected return on plan assets (819 ) (686 ) (191 ) (190 ) Amortization of net (gain) loss (17 ) 10 (89 ) (83 ) Amortization of prior service cost - - 22 22 Net periodic benefit $ (557 ) (343 ) (177 ) (174 ) Six months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2018 2017 2018 2017 Service cost $ 17 22 52 51 Interest cost 599 651 109 110 Expected return on plan assets (1,506 ) (1,372 ) (381 ) (381 ) Amortization of net loss (gain) - 33 (178 ) (169 ) Amortization of prior service cost - - 45 45 Net periodic benefit $ (890 ) (666 ) (353 ) (344 ) The Company does not expect to make contributions to its pension and postretirement benefit plans in 2018. As of June 30, 2018, no contributions have been made, however, this decision is reviewed each quarter and is subject to change based upon market conditions. Since 2003, the Company has not subsidized retiree medical insurance premiums. However, it continues to provide postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investment Securities [Abstract] | |
Investment Securities | (4) Investment Securities (a) Securities available for sale The amortized cost and fair value of the securities available for sale are as follows: June 30, 2018 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 154,863 - 4,159 150,704 State and political subdivisions 515 9 - 524 Mortgage backed securities and collateralized mortgage obligations 294,398 62 11,208 283,252 Corporate bonds 30,132 - 155 29,977 Small Business Administration - guaranteed participation securities 63,995 - 2,119 61,876 Other 685 - - 685 Total securities available for sale $ 544,588 71 17,641 527,018 December 31, 2017 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 139,890 27 2,066 137,851 State and political subdivisions 515 10 - 525 Mortgage backed securities and collateralized mortgage obligations 330,424 84 4,825 325,683 Corporate bonds 40,270 - 108 40,162 Small Business Administration - guaranteed participation securities 68,921 - 1,862 67,059 Other 685 - - 685 Total securities available for sale $ 580,705 121 8,861 571,965 The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2018, 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: (dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 10,709 10,642 Due in one year through five years 165,392 161,227 Due after five years through ten years 10,094 10,021 Mortgage backed securities and collateralized mortgage obligations 294,398 283,252 Small Business Administration - guaranteed participation securities 63,995 61,876 $ 544,588 527,018 Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows: June 30, 2018 (dollars in thousands) Less than 12 months 12 months or more Total Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss U.S. government sponsored enterprises $ 68,671 1,302 82,034 2,857 150,705 4,159 Mortgage backed securities and collateralized mortgage obligations 34,750 1,061 247,070 10,147 281,820 11,208 Corporate bonds 14,993 88 9,984 67 24,977 155 Small Business Administration - guaranteed participation securities - - 61,876 2,119 61,876 2,119 Total $ 118,414 2,451 400,964 15,190 519,378 17,641 December 31, 2017 (dollars in thousands) Less than 12 months 12 months or more Total Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss U.S. government sponsored enterprises $ 29,734 266 98,090 1,800 127,824 2,066 Mortgage backed securities and collateralized mortgage obligations 48,080 371 276,094 4,454 324,174 4,825 Corporate bonds - - 40,162 108 40,162 108 Small Business Administration - guaranteed participation securities - - 67,059 1,862 67,059 1,862 Total $ 77,814 637 481,405 8,224 559,219 8,861 There were no gross realized gains or losses from calls of available for sale securities during the three and six months ended June 30, 2018 and 2017. There were no sales of securities available for sale during the three and six months ended June 30, 2018 and 2017. There was $24.5 million and $52.8 million in proceeds from calls of securities available for sale during the three months ended June 30, 2018 and 2017, respectively. There was $49.5 million and $73.6 million in proceeds from calls of securities available for sale during the six months ended June 30, 2018 and 2017, respectively. (b) Held to maturity securities The amortized cost and fair value of the held to maturity securities are as follows: June 30, 2018 (dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations $ 24,730 700 127 25,303 Total held to maturity $ 24,730 700 127 25,303 December 31, 2017 (dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations $ 27,551 1,150 - 28,701 Total held to maturity $ 27,551 1,150 - 28,701 The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2018, 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: (dollars in thousands) Amortized Cost Fair Value Mortgage backed securities and collateralized mortgage obligations $ 24,730 25,303 Total held to maturity $ 24,730 25,303 Gross unrecognized losses on securities held to maturity and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position, were as follows: (dollars in thousands) June 30, 2018 Less than 12 months 12 months or more Total Fair Value Gross Unrec. Loss Fair Value Gross Unrec. Loss Fair Value Gross Unrec. Loss Mortgage backed securities and collateralized mortgage obligations $ 12,072 127 - - 12,072 127 Total $ 12,072 127 - - 12,072 127 There were no sales or transfers of held to maturity securities during the three and six months ended June 30, 2018 and 2017. There were no held to maturity securities in an unrecognized loss position as of December 31, 2017. (c) Other-Than-Temporary Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment securities portfolio is evaluated for OTTI by segregating the portfolio by type and applying the appropriate OTTI model. Investment securities classified as available for sale or held to maturity are evaluated for OTTI under FASB ASC Topic 320, Investments – Debt and Equity Securities In determining OTTI under the ASC 320 model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether 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. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. As of June 30, 2018, the Company’s security portfolio included certain debt securities which were in a loss position. Almost all of the securities in a loss position are issuances from U.S. government sponsored entities. Corporate bonds held by the Company are investment grade quality, and management has reviewed the financial condition of the issuer. The declines in fair value are attributable to changes in interest rates, and not credit quality, and because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired at June 30, 2018. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | (5) The following table presents the recorded investment in loans by loan class: June 30, 2018 (dollars in thousands) New York and Florida Total Commercial: Commercial real estate $ 154,750 10,572 165,322 Other 25,272 310 25,582 Real estate mortgage - 1 to 4 family: First mortgages 2,347,928 812,829 3,160,757 Home equity loans 69,123 15,271 84,394 Home equity lines of credit 251,845 43,946 295,791 Installment 8,273 1,036 9,309 Total loans, net $ 2,857,191 883,964 3,741,155 Less: Allowance for loan losses 44,503 Net loans $ 3,696,652 December 31, 2017 (dollars in thousands) New York and Florida Total Commercial: Commercial real estate $ 149,368 12,524 161,892 Other 23,606 709 24,315 Real estate mortgage - 1 to 4 family: First mortgages 2,286,148 765,929 3,052,077 Home equity loans 66,455 13,989 80,444 Home equity lines of credit 263,275 45,641 308,916 Installment 7,141 1,622 8,763 Total loans, net $ 2,795,993 840,414 3,636,407 Less: Allowance for loan losses 44,170 Net loans $ 3,592,237 * Includes New York, New Jersey, Vermont and Massachusetts. At June 30, 2018 and December 31, 2017, the Company had approximately $33.8 million and $30.9 million of real estate construction loans, respectively. Of the $33.8 million in real estate construction loans at June 30, 2018, approximately $20.4 million are secured by second mortgages to residential borrowers while approximately $13.4 million were to commercial borrowers for residential construction projects. Of the $30.9 million in real estate construction loans at December 31, 2017, approximately $21.1 million are secured by second mortgages to residential borrowers while approximately $9.8 million were to commercial borrowers for residential construction projects. The vast majority of construction loans are in the Company’s New York market. TrustCo lends in the geographic territory of its branch locations in New York, Florida, Massachusetts, New Jersey and Vermont. Although the loan portfolio is diversified, a portion of its debtors’ ability to repay depends significantly on the economic conditions prevailing in the respective geographic territory. The following tables present the recorded investment in non-accrual loans by loan class: June 30, 2018 (dollars in thousands) New York and Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 659 - 659 Other 108 - 108 Real estate mortgage - 1 to 4 family: First mortgages 17,619 2,017 19,636 Home equity loans 201 - 201 Home equity lines of credit 3,389 126 3,515 Installment 6 - 6 Total non-accrual loans 21,982 2,143 24,125 Restructured real estate mortgages - 1 to 4 family 36 - 36 Total nonperforming loans $ 22,018 2,143 24,161 December 31, 2017 (dollars in thousands) New York and Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,443 - 1,443 Other 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 16,654 2,259 18,913 Home equity loans 93 - 93 Home equity lines of credit 3,603 130 3,733 Installment 57 - 57 Total non-accrual loans 21,950 2,389 24,339 Restructured real estate mortgages - 1 to 4 family 38 - 38 Total nonperforming loans $ 21,988 2,389 24,377 * Includes New York, New Jersey, Vermont and Massachusetts. 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 legal title or through a deed in lieu). As of June 30, 2018 and December 31, 2017, other estate owned included $1.8 million and $2.7 million of residential foreclosed properties, respectively. In addition, non-accrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $12.8 million and $12.6 million as of June 30, 2018 and December 31, 2017, respectively. The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2018 and December 31, 2017: June 30, 2018 New York and other states*: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - 174 441 615 154,135 154,750 Other 8 - 100 108 25,164 25,272 Real estate mortgage - 1 to 4 family: First mortgages 2,957 1,584 13,243 17,784 2,330,144 2,347,928 Home equity loans - 13 164 177 68,946 69,123 Home equity lines of credit 650 212 1,855 2,717 249,128 251,845 Installment 59 26 3 88 8,185 8,273 Total $ 3,674 2,009 15,806 21,489 2,835,702 2,857,191 Florida: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - - - - 10,572 10,572 Other - - - - 310 310 Real estate mortgage - 1 to 4 family: First mortgages 418 - 850 1,268 811,561 812,829 Home equity loans 51 - - 51 15,220 15,271 Home equity lines of credit 40 - 70 110 43,836 43,946 Installment 15 5 - 20 1,016 1,036 Total $ 524 5 920 1,449 882,515 883,964 Total: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - 174 441 615 164,707 165,322 Other 8 - 100 108 25,474 25,582 Real estate mortgage - 1 to 4 family: First mortgages 3,375 1,584 14,093 19,052 3,141,705 3,160,757 Home equity loans 51 13 164 228 84,166 84,394 Home equity lines of credit 690 212 1,925 2,827 292,964 295,791 Installment 74 31 3 108 9,201 9,309 Total $ 4,198 2,014 16,726 22,938 3,718,217 3,741,155 * Includes New York, New Jersey, Vermont and Massachusetts. December 31, 2017 New York and other states*: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ 183 174 1,332 1,689 147,679 149,368 Other - - 100 100 23,506 23,606 Real estate mortgage - 1 to 4 family: First mortgages 5,669 1,300 9,014 15,983 2,270,165 2,286,148 Home equity loans 6 - 45 51 66,404 66,455 Home equity lines of credit 489 18 2,139 2,646 260,629 263,275 Installment 46 17 25 88 7,053 7,141 Total $ 6,393 1,509 12,655 20,557 2,775,436 2,795,993 Florida: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - - - - 12,524 12,524 Other - - - - 709 709 Real estate mortgage - 1 to 4 family: First mortgages 277 - 1,404 1,681 764,248 765,929 Home equity loans - - - - 13,989 13,989 Home equity lines of credit - - - - 45,641 45,641 Installment 3 5 26 34 1,588 1,622 Total $ 280 5 1,430 1,715 838,699 840,414 Total: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ 183 174 1,332 1,689 160,203 161,892 Other - - 100 100 24,215 24,315 Real estate mortgage - 1 to 4 family: First mortgages 5,946 1,300 10,418 17,664 3,034,413 3,052,077 Home equity loans 6 - 45 51 80,393 80,444 Home equity lines of credit 489 18 2,139 2,646 306,270 308,916 Installment 49 22 51 122 8,641 8,763 Total $ 6,673 1,514 14,085 22,272 3,614,135 3,636,407 * Includes New York, New Jersey, Vermont and Massachusetts. At June 30, 2018 and December 31, 2017, 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. Activity in the allowance for loan losses by portfolio segment is summarized as follows: Three months ended June 30, 2018 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,255 39,359 765 44,379 Loans charged off: New York and other states* - 239 41 280 Florida - - 3 3 Total loan chargeoffs - 239 44 283 Recoveries of loans previously charged off: New York and other states* 1 89 14 104 Florida - - 3 3 Total recoveries 1 89 17 107 Net loans charged off (recoveries) (1 ) 150 27 176 Provision (recoveries) for loan losses (61 ) 262 99 300 Balance at end of period $ 4,195 39,471 837 44,503 Three months ended June 30, 2017 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,810 38,581 657 44,048 Loans charged off: New York and other states* - 522 40 562 Florida - 52 13 65 Total loan chargeoffs - 574 53 627 Recoveries of loans previously charged off: New York and other states* - 188 3 191 Florida - - - - Total recoveries - 188 3 191 Net loans charged off - 386 50 436 Provision (recoveries) for loan losses (214 ) 676 88 550 Balance at end of period $ 4,596 38,871 695 44,162 * Includes New York, New Jersey, Vermont and Massachusetts. Six months ended June 30, 2018 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,324 39,077 769 44,170 Loans charged off: New York and other states* - 370 112 482 Florida - - 6 6 Total loan chargeoffs - 370 118 488 Recoveries of loans previously charged off: New York and other states* 7 192 19 218 Florida - - 3 3 Total recoveries 7 192 22 221 Net loans charged off (recoveries) (7 ) 178 96 267 Provision (recoveries) for loan losses (136 ) 572 164 600 Balance at end of period $ 4,195 39,471 837 44,503 Six months ended June 30, 2017 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,929 38,231 730 43,890 Loans charged off: New York and other states* 72 952 81 1,105 Florida - 136 15 151 Total loan chargeoffs 72 1,088 96 1,256 Recoveries of loans previously charged off: New York and other states* 8 357 13 378 Florida - - - - Total recoveries 8 357 13 378 Net loans charged off 64 731 83 878 Provision (recoveries) for loan losses (269 ) 1,371 48 1,150 Balance at end of period $ 4,596 38,871 695 44,162 * Includes New York, New Jersey, Vermont and Massachusetts. The Company has identified non-accrual commercial and commercial real estate loans, as well as all loans restructured under a troubled debt restructuring (“TDR”), as impaired loans. A loan is considered impaired when it is probable that the borrower will be unable to repay the loan according to the original contractual terms of the loan agreement or the loan is restructured as a TDR. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2018 and December 31, 2017: June 30, 2018 (dollars in thousands) Commercial Loans 1-to-4 Family Residential Real Estate Installment Loans Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 4,195 39,471 837 44,503 Total ending allowance balance $ 4,195 39,471 837 44,503 Loans: Individually evaluated for impairment $ 1,133 20,505 - 21,638 Collectively evaluated for impairment 189,771 3,520,437 9,309 3,719,517 Total ending loans balance $ 190,904 3,540,942 9,309 3,741,155 December 31, 2017 (dollars in thousands) Commercial Loans 1-to-4 Family Residential Real Estate Installment Loans Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 4,324 39,077 769 44,170 Total ending allowance balance $ 4,324 39,077 769 44,170 Loans: Individually evaluated for impairment $ 2,248 22,032 - 24,280 Collectively evaluated for impairment 183,959 3,419,405 8,763 3,612,127 Total ending loans balance $ 186,207 3,441,437 8,763 3,636,407 A loan for which the terms have been modified, and for which the borrower is experiencing financial difficulties, is considered a TDR and is classified as impaired. TDR’s at June 30, 2018 and December 31, 2017 are measured at the present value of estimated future cash flows using the loan’s effective rate at inception or the fair value of the underlying collateral if the loan is considered collateral dependent. The following tables present impaired loans by loan class as of June 30, 2018 and December 31, 2017: New York and other states*: June 30, 2018 (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 994 1,164 - 1,251 Other 139 139 - 113 Real estate mortgage - 1 to 4 family: First mortgages 14,738 15,300 - 15,588 Home equity loans 255 275 - 263 Home equity lines of credit 2,705 2,946 - 2,687 Total $ 18,831 19,824 - 19,903 Florida: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,466 2,572 - 2,620 Home equity loans 87 87 - 88 Home equity lines of credit 254 254 - 90 Total $ 2,807 2,913 - 2,798 Total: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 994 1,164 - 1,251 Other 139 139 - 113 Real estate mortgage - 1 to 4 family: First mortgages 17,204 17,872 - 18,208 Home equity loans 342 362 - 351 Home equity lines of credit 2,959 3,200 - 2,777 Total $ 21,638 22,737 - 22,700 * Includes New York, New Jersey, Vermont and Massachusetts. New York and other states*: December 31, 2017 (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 2,148 3,120 - 2,711 Other 100 100 - 87 Real estate mortgage - 1 to 4 family: First mortgages 15,850 16,540 - 16,508 Home equity loans 270 291 - 263 Home equity lines of credit 2,606 2,847 - 2,193 Total $ 20,974 22,898 - 21,762 Florida: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,707 2,813 - 2,335 Home equity loans 89 89 - 92 Home equity lines of credit 510 510 - 561 Total $ 3,306 3,412 - 2,988 Total: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 2,148 3,120 - 2,711 Other 100 100 - 87 Real estate mortgage - 1 to 4 family: First mortgages 18,557 19,353 - 18,843 Home equity loans 359 380 - 355 Home equity lines of credit 3,116 3,357 - 2,754 Total $ 24,280 26,310 - 24,750 * Includes New York, New Jersey, Vermont and Massachusetts. The Company has not committed to lend additional amounts to customers with outstanding loans that are classified as impaired. Interest income recognized on impaired loans was not material during the three and six months ended June 30, 2018 and 2017. As of June 30, 2018 and December 31, 2017 impaired loans included approximately $10.0 million and $11.8 million of loans in accruing status that were identified as TDR’s in accordance with regulatory guidance related to Chapter 7 bankruptcy loans, respectively. Management evaluates impairment on impaired loans on a quarterly basis. If, during this evaluation, impairment of the loan is identified, a charge off is taken at that time. As a result, as of June 30, 2018 and December 31, 2017, based upon management’s evaluation and due to the sufficiency of chargeoffs taken, none of the allowance for loan losses has been allocated to a specific impaired loan(s). The following table presents, by class, loans that were modified as TDR’s: Three months ended 6/30/2018 Three months ended 6/30/2017 New York and other states*: Pre-Modification Post-Modification Pre-Modification Post-Modification (dollars in thousands) Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Commercial: Commercial real estate - $ - - 3 $ 747 747 Real estate mortgage - 1 to 4 family: First mortgages 2 125 125 7 1,098 1,098 Home equity loans - - - - - - Home equity lines of credit - - - 1 3 3 Total 2 $ 125 125 11 $ 1,848 1,848 Florida: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages - - - 4 387 387 Home equity loans - - - - - - Home equity lines of credit - - - - - - Total - $ - - 4 $ 387 387 Six months ended 6/30/2018 Six months ended 6/30/2017 New York and other states*: Pre-Modification Post-Modification Pre-Modification Post-Modification (dollars in thousands) Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Commercial: Commercial real estate - $ - - 3 $ 747 747 Real estate mortgage - 1 to 4 family: First mortgages 4 598 598 18 3,045 3,045 Home equity loans - - - 1 13 13 Home equity lines of credit 2 208 208 5 161 161 Total 6 $ 806 806 27 $ 3,966 3,966 Florida: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial: Real estate mortgage - 1 to 4 family: First mortgages - $ - - 5 $ 467 467 Home equity loans - - - - - - Home equity lines of credit - - - 1 70 70 Total - $ - - 6 $ 537 537 * Includes New York, New Jersey, Vermont and Massachusetts. The addition of these TDR’s did not have a significant impact on the allowance for loan losses. In situations where the Company considers a loan modification, management determines whether the borrower is experiencing financial difficulty by performing an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s underwriting policy. Generally, the modification of the terms of loans was the result of the borrower filing for bankruptcy protection. Chapter 13 bankruptcies generally include the deferral of all past due amounts for a period of generally 60 months in accordance with the bankruptcy court order. In the case of Chapter 7 bankruptcies, as previously noted, even though there is no modification of terms, the borrowers’ debt to the Company was discharged and they did not reaffirm the debt. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In situations involving a borrower filing for Chapter 13 bankruptcy protection, however, a loan is considered to be in payment default once it is 30 days contractually past due, consistent with the treatment by the bankruptcy court. The following table presents, by class, TDR’s that defaulted during the three and six months ended June 30, 2018 and 2017 which had been modified within the last twelve months: Three months ended 6/30/2018 Three months ended 6/30/2017 New York and other states*: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - - $ - Home equity lines of credit - - 1 3 Total - $ - 1 $ 3 Florida: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - 1 $ 46 Total - $ - 1 $ 46 Six months ended 6/30/2018 Six months ended 6/30/2017 New York and other states*: (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - - $ - Home equity loans - - - - Home equity lines of credit 1 3 1 3 Total 1 $ 3 1 $ 3 Florida: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages 1 $ 72 1 $ 77 Home equity lines of credit - - 1 70 Total 1 $ 72 2 $ 147 * Includes New York, New Jersey, Vermont and Massachusetts. The TDR’s that subsequently defaulted described above did not have a material impact on the allowance for loan losses. The Company categorizes non-homogenous 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 and commercial real estate loans, individually by grading the loans based on credit risk. The loan grades assigned to all loan types are tested by the Company’s internal loan review department in accordance with the Company’s internal loan review policy. The Company uses the following definitions for classified loans: Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be “pass” rated loans. As of June 30, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2018 New York and other states*: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 148,652 6,098 154,750 Other 23,760 1,512 25,272 $ 172,412 7,610 180,022 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 10,456 116 10,572 Other 310 - 310 $ 10,766 116 10,882 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 159,108 6,214 165,322 Other 24,070 1,512 25,582 $ 183,178 7,726 190,904 * Includes New York, New Jersey and Massachusetts. December 31, 2017 New York and other states*: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 140,806 8,562 149,368 Other 21,936 1,670 23,606 $ 162,742 10,232 172,974 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 12,406 118 12,524 Other 709 - 709 $ 13,115 118 13,233 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 153,212 8,680 161,892 Other 22,645 1,670 24,315 $ 175,857 10,350 186,207 * Includes New York, New Jersey and Massachusetts. Included in classified loans in the above tables are impaired loans of $1.0 million and $2.2 million at June 30, 2018 and December 31, 2017, respectively. For homogeneous loan pools, such as residential mortgages, home equity lines of credit, and installment loans, the Company uses payment status to identify the credit risk in these loan portfolios. Payment status is reviewed on a daily basis by the Company’s collection area and on a monthly basis with respect to determining the adequacy of the allowance for loan losses. The payment status of these homogeneous pools as of June 30, 2018 and December 31, 2017 is included in the aging of the recorded investment of the past due loans table. In addition, the total nonperforming portion of these homogeneous loan pools as of June 30, 2018 and December 31, 2017 is presented in the non-accrual loans table. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments | (6) FASB Topic 820, Fair Value Measurements 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 Impaired Loans Indications of value for both collateral-dependent impaired loans and other real estate owned are obtained from third party providers or the Company’s internal Appraisal Department. All indications of value are reviewed for reasonableness by a member of the Appraisal Department for the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value via comparison with independent data sources such as recent market data or industry-wide statistics. Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: Fair Value Measurements at (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 150,704 $ - $ 150,704 $ - State and political subdivisions 524 - 524 - Corporate bonds 29,977 - 29,977 - Mortgage backed securities and collateralized mortgage obligations 283,252 - 283,252 - Small Business Administration – guaranteed participation securities 61,876 - 61,876 - Other securities 685 - 685 - Total securities available for sale $ 527,018 $ - $ 527,018 $ - (dollars in thousands) Fair Value Measurements at Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 137,851 $ - $ 137,851 $ - State and political subdivisions 525 - 525 - Mortgage backed securities and collateralized mortgage obligations 325,683 - 325,683 - Corporate bonds 40,162 - 40,162 - Small Business Administration - guaranteed participation securities 67,059 - 67,059 - Other securities 685 685 Total securities available for sale $ 571,965 $ - $ 571,965 $ - There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2018 and 2017. Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2018 Using: (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 2,569 $ - $ - $ 2,569 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Real estate mortgage - 1 to 4 family 454 - - 454 Sales comparison approach Adjustments for differences between comparable sales 5% - 14% (10%) Fair Value Measurements at December 31, 2017 Using: (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 3,246 $ - $ - $ 3,246 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Real estate mortgage - 1 to 4 family 844 - - 844 Sales comparison approach Adjustments for differences between comparable sales 5% - 14% (10%) Other real estate owned, that is carried at fair value less costs to sell was approximately $2.6 million at June 30, 2018 and consisted of $730 thousand of commercial real estate and $1.8 million of residential real estate properties. Valuation charges of $30 thousand and $230 thousand are included in earnings for the three and six months ended June 30, 2018, respectively. Of the total impaired loans of $21.6 million at June 30, 2018, $454 thousand are collateral dependent and are carried at fair value measured on a non-recurring basis. Due to the sufficiency of charge offs taken on these loans and the adequacy of the underlying collateral, there were no specific valuation allowances for these loans at June 30, 2018. There were no gross charge offs related to commercial impaired loans for the three and six months ended June 30, 2018. Gross charge offs related to residential impaired loans included in the table above were $36 thousand for the six months ended June 30, 2018, there were no gross charge offs related to residential impaired loans for the three months ended June 30, 2018. Other real estate owned, that is carried at fair value less costs to sell, was approximately $3.2 million at December 31, 2017 and consisted of $541 thousand of commercial real estate and $2.7 million of residential real estate properties. A valuation charge of $1.1 million is included in earnings for the year ended December 31, 2017. Of the total impaired loans of $24.1 million at December 31, 2017, $844 thousand are collateral dependent and are carried at fair value measured on a non-recurring basis. Due to the sufficiency of charge offs taken on these loans and the adequacy of the underlying collateral, there were no specific valuation allowances for these loans at December 31, 2017. Gross charge offs related to residential impaired loans included in the table above amounted to $151 thousand at December 31, 2017. In accordance with FASB Topic 825, Financial Instruments (dollars in thousands) Carrying Fair Value Measurements at June 30, 2018 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 586,616 586,616 - - 586,616 Securities available for sale 527,018 35 526,983 - 527,018 Held to maturity securities 24,730 - 25,303 - 25,303 Federal Reserve Bank and Federal Home Loan Bank stock 8,953 N/A N/A N/A N/A Net loans 3,696,652 - - 3,650,308 3,650,308 Accrued interest receivable 11,329 284 2,495 8,550 11,329 Financial liabilities: Demand deposits 404,564 404,564 - - 404,564 Interest bearing deposits 3,850,706 2,695,492 1,143,088 - 3,838,580 Short-term borrowings 182,705 - 182,705 - 182,705 Accrued interest payable 695 74 621 - 695 (dollars in thousands) Carrying Fair Value Measurements at December 31, 2017 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 612,740 612,740 - - 612,740 Securities available for sale 571,965 35 571,930 - 571,965 Held to maturity securities 27,551 - 28,701 - 28,701 Federal Reserve Bank and Federal Home Loan Bank stock 8,779 N/A N/A N/A N/A Net loans 3,592,237 - - 3,598,213 3,598,213 Accrued interest receivable 11,441 243 2,440 8,758 11,441 Financial liabilities: Demand deposits 398,399 398,399 - - 398,399 Interest bearing deposits 3,774,927 2,707,961 1,076,213 - 3,784,174 Short-term borrowings 242,991 - 242,991 - 242,991 Accrued interest payable 537 77 460 - 537 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | (7) Accumulated Other Comprehensive Income (Loss) The following is a summary of the accumulated other comprehensive (loss) income balances, net of tax: Three months ended 6/30/2018 (dollars in thousands) Balance at 4/1/2018 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Three months ended 6/30/2018 Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (10,332 ) (1,244 ) - (1,244 ) (11,576 ) Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax 3,188 - (62 ) (62 ) 3,126 Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (1,346 ) - - - (1,346 ) Accumulated other comprehensive income (loss), net of tax $ (8,490 ) (1,244 ) (62 ) (1,306 ) (9,796 ) Three months ended 6/30/2017 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (6,055 ) 2,006 - 2,006 (4,049 ) Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax 487 - (31 ) (31 ) 456 Accumulated other comprehensive income (loss), net of tax $ (5,568 ) 2,006 (31 ) 1,975 (3,593 ) Six months ended 6/30/2018 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (5,030 ) (6,546 ) - (6,546 ) (11,576 ) Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax 3,224 - (98 ) (98 ) 3,126 Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect - - (1,346 ) - (1,346 ) Accumulated other comprehensive income (loss), net of tax $ (1,806 ) (6,546 ) (1,444 ) (6,644 ) (9,796 ) Six months ended 6/30/2017 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (6,762 ) 2,713 - 2,713 (4,049 ) Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax 511 - (55 ) (55 ) 456 Accumulated other comprehensive income (loss), net of tax $ (6,251 ) 2,713 (55 ) 2,658 (3,593 ) The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2018 and 2017: (dollars in thousands) Three months ended Six months ended 2018 2017 2018 2017 Affected Line Item in Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 106 73 $ 178 136 Salaries and employee benefits Amortization of prior service cost (22 ) (22 ) (45 ) (45 ) Salaries and employee benefits Income tax effect (22 ) (20 ) (35 ) (36 ) Income taxes Net of tax 62 31 98 55 Total reclassifications, net of tax $ 62 31 $ 98 55 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contracts with Customers [Abstract] | |
Revenue from Contracts with Customers | (8) Revenue from Contracts with Customers All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within Non-Interest Income. The following table presents the Company’s sources of Non-Interest Income for the three months and six months ended June 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended Six months ended 2018 2017 2018 2017 Non-interest income Service Charges on Deposits Overdraft fees $ 823 $ 876 $ 1,650 $ 1,735 Other 96 153 210 232 Interchange Income 1,170 1,253 2,476 2,519 Wealth management fees 1,596 1,425 3,411 3,283 Other (a) 810 797 1,427 1,462 Total non-interest income $ 4,495 $ 4,504 $ 9,174 $ 9,231 (a) Not within the scope of ASC 606. 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: Gains/Losses on Sales of Other real Estate Owned “OREO”: |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | (9) New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” which implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company has adopted this ASU on January 1, 2018. Upon adoption the Company determined that there were no accumulated adjustments needed and no changes to the patterns on how the company recognized revenue. The Company did add disclosures for the items in-scope as described in note 8. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” which amended existing guidance to improve accounting standards for financial instruments including clarification and simplification of accounting and disclosure requirements and the requirement for public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. The ASU was adopted on January 1, 2018, and does not significantly impact the Company’s consolidated financial statements. The Company has amended disclosures to comply with the exit price notion as required under the ASU for the period ended June 30, 2018. In February 2018, the FASB issued ASU 2018-02, “Income statement – Reporting Comprehensive Income (Topic 220) Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” which will allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. These amendments are effective for all entities for fiscal years beginning after December 15, 2018. For Interim periods within those fiscal years, early adoption of the amendment is permitted including public business entities for reporting periods for which financial statements have not yet been issued. The Company did adopt the ASU in the first quarter of 2018 and reclassified the stranded tax effect in accumulated other comprehensive income to retained earnings in the period ended March 31, 2018. In February 2016, the FASB issued ASU No. 2016-02, “Leases” which amended existing guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company is evaluating the impact of ASU No. 2016-02 on its consolidated financial statements. In June 2016, the FASB released ASU 2016-13, “Financial Instruments – Credit Losses” which amended existing guidance to replace current generally accepted accounting principles used to measure a reporting entity’s credit losses. The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2019. The ASU represents a significant departure from current GAAP and the Company is evaluating the impact of the ASU on its consolidated financial statements, which includes developing a roadmap for implementation of the new standard. The Company has formed a committee which is performing implementation planning and evaluating the impact of the ASU on its consolidated financial statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Earnings Per Share | A reconciliation of the component parts of earnings per share for the three and six months ended June 30, 2018 and 2017 is as follows: (in thousands, except per share data) Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Net income $ 15,405 12,240 $ 30,213 23,187 Weighted average common shares 96,449 96,003 96,401 95,944 Effect of dilutive common stock options 131 70 134 90 Weighted average common shares including potential dilutive shares 96,580 96,073 96,535 96,034 Basic EPS $ 0.160 0.127 $ 0.313 0.242 Diluted EPS $ 0.160 0.127 $ 0.313 0.241 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Benefit Plans [Abstract] | |
Net Periodic Benefit | The table below outlines the components of the Company’s net periodic benefit recognized during the three and six months ended June 30, 2018 and 2017 for its pension and other postretirement benefit plans: Three months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2018 2017 2018 2017 Service cost $ 6 11 26 23 Interest cost 273 322 55 54 Expected return on plan assets (819 ) (686 ) (191 ) (190 ) Amortization of net (gain) loss (17 ) 10 (89 ) (83 ) Amortization of prior service cost - - 22 22 Net periodic benefit $ (557 ) (343 ) (177 ) (174 ) Six months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2018 2017 2018 2017 Service cost $ 17 22 52 51 Interest cost 599 651 109 110 Expected return on plan assets (1,506 ) (1,372 ) (381 ) (381 ) Amortization of net loss (gain) - 33 (178 ) (169 ) Amortization of prior service cost - - 45 45 Net periodic benefit $ (890 ) (666 ) (353 ) (344 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investment Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available For Sale | The amortized cost and fair value of the securities available for sale are as follows: June 30, 2018 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 154,863 - 4,159 150,704 State and political subdivisions 515 9 - 524 Mortgage backed securities and collateralized mortgage obligations 294,398 62 11,208 283,252 Corporate bonds 30,132 - 155 29,977 Small Business Administration - guaranteed participation securities 63,995 - 2,119 61,876 Other 685 - - 685 Total securities available for sale $ 544,588 71 17,641 527,018 December 31, 2017 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 139,890 27 2,066 137,851 State and political subdivisions 515 10 - 525 Mortgage backed securities and collateralized mortgage obligations 330,424 84 4,825 325,683 Corporate bonds 40,270 - 108 40,162 Small Business Administration - guaranteed participation securities 68,921 - 1,862 67,059 Other 685 - - 685 Total securities available for sale $ 580,705 121 8,861 571,965 |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Amortized Cost and Fair Value of Held to Maturity Securities | The amortized cost and fair value of the held to maturity securities are as follows: June 30, 2018 (dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations $ 24,730 700 127 25,303 Total held to maturity $ 24,730 700 127 25,303 December 31, 2017 (dollars in thousands) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations $ 27,551 1,150 - 28,701 Total held to maturity $ 27,551 1,150 - 28,701 |
Securities Available for Sale [Member] | |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Debt Securities Based on Securities Contractual Maturity | The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2018, 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: (dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 10,709 10,642 Due in one year through five years 165,392 161,227 Due after five years through ten years 10,094 10,021 Mortgage backed securities and collateralized mortgage obligations 294,398 283,252 Small Business Administration - guaranteed participation securities 63,995 61,876 $ 544,588 527,018 |
Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position | Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows: June 30, 2018 (dollars in thousands) Less than 12 months 12 months or more Total Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss U.S. government sponsored enterprises $ 68,671 1,302 82,034 2,857 150,705 4,159 Mortgage backed securities and collateralized mortgage obligations 34,750 1,061 247,070 10,147 281,820 11,208 Corporate bonds 14,993 88 9,984 67 24,977 155 Small Business Administration - guaranteed participation securities - - 61,876 2,119 61,876 2,119 Total $ 118,414 2,451 400,964 15,190 519,378 17,641 December 31, 2017 (dollars in thousands) Less than 12 months 12 months or more Total Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss Fair Value Gross Unreal. Loss U.S. government sponsored enterprises $ 29,734 266 98,090 1,800 127,824 2,066 Mortgage backed securities and collateralized mortgage obligations 48,080 371 276,094 4,454 324,174 4,825 Corporate bonds - - 40,162 108 40,162 108 Small Business Administration - guaranteed participation securities - - 67,059 1,862 67,059 1,862 Total $ 77,814 637 481,405 8,224 559,219 8,861 |
Held to Maturity Securities [Member] | |
Securities, Available-for-sale and Held-to-maturity [Abstract] | |
Debt Securities Based on Securities Contractual Maturity | The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2018, 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: (dollars in thousands) Amortized Cost Fair Value Mortgage backed securities and collateralized mortgage obligations $ 24,730 25,303 Total held to maturity $ 24,730 25,303 |
Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position | Gross unrecognized losses on securities held to maturity and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position, were as follows: (dollars in thousands) June 30, 2018 Less than 12 months 12 months or more Total Fair Value Gross Unrec. Loss Fair Value Gross Unrec. Loss Fair Value Gross Unrec. Loss Mortgage backed securities and collateralized mortgage obligations $ 12,072 127 - - 12,072 127 Total $ 12,072 127 - - 12,072 127 |
Loans and Allowance for Loan 21
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Loans and Allowance for Loan Losses [Abstract] | |
Recorded Investment in Loans by Loan Class | The following table presents the recorded investment in loans by loan class: June 30, 2018 (dollars in thousands) New York and Florida Total Commercial: Commercial real estate $ 154,750 10,572 165,322 Other 25,272 310 25,582 Real estate mortgage - 1 to 4 family: First mortgages 2,347,928 812,829 3,160,757 Home equity loans 69,123 15,271 84,394 Home equity lines of credit 251,845 43,946 295,791 Installment 8,273 1,036 9,309 Total loans, net $ 2,857,191 883,964 3,741,155 Less: Allowance for loan losses 44,503 Net loans $ 3,696,652 December 31, 2017 (dollars in thousands) New York and Florida Total Commercial: Commercial real estate $ 149,368 12,524 161,892 Other 23,606 709 24,315 Real estate mortgage - 1 to 4 family: First mortgages 2,286,148 765,929 3,052,077 Home equity loans 66,455 13,989 80,444 Home equity lines of credit 263,275 45,641 308,916 Installment 7,141 1,622 8,763 Total loans, net $ 2,795,993 840,414 3,636,407 Less: Allowance for loan losses 44,170 Net loans $ 3,592,237 * Includes New York, New Jersey, Vermont and Massachusetts. |
Recorded Investment in Non-Accrual Loans by Loan Class | The following tables present the recorded investment in non-accrual loans by loan class: June 30, 2018 (dollars in thousands) New York and Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 659 - 659 Other 108 - 108 Real estate mortgage - 1 to 4 family: First mortgages 17,619 2,017 19,636 Home equity loans 201 - 201 Home equity lines of credit 3,389 126 3,515 Installment 6 - 6 Total non-accrual loans 21,982 2,143 24,125 Restructured real estate mortgages - 1 to 4 family 36 - 36 Total nonperforming loans $ 22,018 2,143 24,161 December 31, 2017 (dollars in thousands) New York and Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,443 - 1,443 Other 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 16,654 2,259 18,913 Home equity loans 93 - 93 Home equity lines of credit 3,603 130 3,733 Installment 57 - 57 Total non-accrual loans 21,950 2,389 24,339 Restructured real estate mortgages - 1 to 4 family 38 - 38 Total nonperforming loans $ 21,988 2,389 24,377 * Includes New York, New Jersey, Vermont and Massachusetts. |
Aging of Recorded Investment in Past Due Loans by Loan Class and by Region | The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2018 and December 31, 2017: June 30, 2018 New York and other states*: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - 174 441 615 154,135 154,750 Other 8 - 100 108 25,164 25,272 Real estate mortgage - 1 to 4 family: First mortgages 2,957 1,584 13,243 17,784 2,330,144 2,347,928 Home equity loans - 13 164 177 68,946 69,123 Home equity lines of credit 650 212 1,855 2,717 249,128 251,845 Installment 59 26 3 88 8,185 8,273 Total $ 3,674 2,009 15,806 21,489 2,835,702 2,857,191 Florida: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - - - - 10,572 10,572 Other - - - - 310 310 Real estate mortgage - 1 to 4 family: First mortgages 418 - 850 1,268 811,561 812,829 Home equity loans 51 - - 51 15,220 15,271 Home equity lines of credit 40 - 70 110 43,836 43,946 Installment 15 5 - 20 1,016 1,036 Total $ 524 5 920 1,449 882,515 883,964 Total: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - 174 441 615 164,707 165,322 Other 8 - 100 108 25,474 25,582 Real estate mortgage - 1 to 4 family: First mortgages 3,375 1,584 14,093 19,052 3,141,705 3,160,757 Home equity loans 51 13 164 228 84,166 84,394 Home equity lines of credit 690 212 1,925 2,827 292,964 295,791 Installment 74 31 3 108 9,201 9,309 Total $ 4,198 2,014 16,726 22,938 3,718,217 3,741,155 * Includes New York, New Jersey, Vermont and Massachusetts. December 31, 2017 New York and other states*: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ 183 174 1,332 1,689 147,679 149,368 Other - - 100 100 23,506 23,606 Real estate mortgage - 1 to 4 family: First mortgages 5,669 1,300 9,014 15,983 2,270,165 2,286,148 Home equity loans 6 - 45 51 66,404 66,455 Home equity lines of credit 489 18 2,139 2,646 260,629 263,275 Installment 46 17 25 88 7,053 7,141 Total $ 6,393 1,509 12,655 20,557 2,775,436 2,795,993 Florida: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ - - - - 12,524 12,524 Other - - - - 709 709 Real estate mortgage - 1 to 4 family: First mortgages 277 - 1,404 1,681 764,248 765,929 Home equity loans - - - - 13,989 13,989 Home equity lines of credit - - - - 45,641 45,641 Installment 3 5 26 34 1,588 1,622 Total $ 280 5 1,430 1,715 838,699 840,414 Total: (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total 30+ days Past Due Current Total Loans Commercial: Commercial real estate $ 183 174 1,332 1,689 160,203 161,892 Other - - 100 100 24,215 24,315 Real estate mortgage - 1 to 4 family: First mortgages 5,946 1,300 10,418 17,664 3,034,413 3,052,077 Home equity loans 6 - 45 51 80,393 80,444 Home equity lines of credit 489 18 2,139 2,646 306,270 308,916 Installment 49 22 51 122 8,641 8,763 Total $ 6,673 1,514 14,085 22,272 3,614,135 3,636,407 * Includes New York, New Jersey, Vermont and Massachusetts. |
Activity in Allowance For Loan Losses by Portfolio Segment | Activity in the allowance for loan losses by portfolio segment is summarized as follows: Three months ended June 30, 2018 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,255 39,359 765 44,379 Loans charged off: New York and other states* - 239 41 280 Florida - - 3 3 Total loan chargeoffs - 239 44 283 Recoveries of loans previously charged off: New York and other states* 1 89 14 104 Florida - - 3 3 Total recoveries 1 89 17 107 Net loans charged off (recoveries) (1 ) 150 27 176 Provision (recoveries) for loan losses (61 ) 262 99 300 Balance at end of period $ 4,195 39,471 837 44,503 Three months ended June 30, 2017 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,810 38,581 657 44,048 Loans charged off: New York and other states* - 522 40 562 Florida - 52 13 65 Total loan chargeoffs - 574 53 627 Recoveries of loans previously charged off: New York and other states* - 188 3 191 Florida - - - - Total recoveries - 188 3 191 Net loans charged off - 386 50 436 Provision (recoveries) for loan losses (214 ) 676 88 550 Balance at end of period $ 4,596 38,871 695 44,162 * Includes New York, New Jersey, Vermont and Massachusetts. Six months ended June 30, 2018 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,324 39,077 769 44,170 Loans charged off: New York and other states* - 370 112 482 Florida - - 6 6 Total loan chargeoffs - 370 118 488 Recoveries of loans previously charged off: New York and other states* 7 192 19 218 Florida - - 3 3 Total recoveries 7 192 22 221 Net loans charged off (recoveries) (7 ) 178 96 267 Provision (recoveries) for loan losses (136 ) 572 164 600 Balance at end of period $ 4,195 39,471 837 44,503 Six months ended June 30, 2017 (dollars in thousands) Commercial Real Estate Mortgage- Installment Total Balance at beginning of period $ 4,929 38,231 730 43,890 Loans charged off: New York and other states* 72 952 81 1,105 Florida - 136 15 151 Total loan chargeoffs 72 1,088 96 1,256 Recoveries of loans previously charged off: New York and other states* 8 357 13 378 Florida - - - - Total recoveries 8 357 13 378 Net loans charged off 64 731 83 878 Provision (recoveries) for loan losses (269 ) 1,371 48 1,150 Balance at end of period $ 4,596 38,871 695 44,162 * Includes New York, New Jersey, Vermont and Massachusetts. |
Allowance For Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2018 and December 31, 2017: June 30, 2018 (dollars in thousands) Commercial Loans 1-to-4 Family Residential Real Estate Installment Loans Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 4,195 39,471 837 44,503 Total ending allowance balance $ 4,195 39,471 837 44,503 Loans: Individually evaluated for impairment $ 1,133 20,505 - 21,638 Collectively evaluated for impairment 189,771 3,520,437 9,309 3,719,517 Total ending loans balance $ 190,904 3,540,942 9,309 3,741,155 December 31, 2017 (dollars in thousands) Commercial Loans 1-to-4 Family Residential Real Estate Installment Loans Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ - - - - Collectively evaluated for impairment 4,324 39,077 769 44,170 Total ending allowance balance $ 4,324 39,077 769 44,170 Loans: Individually evaluated for impairment $ 2,248 22,032 - 24,280 Collectively evaluated for impairment 183,959 3,419,405 8,763 3,612,127 Total ending loans balance $ 186,207 3,441,437 8,763 3,636,407 |
Impaired Loans by Loan Class | The following tables present impaired loans by loan class as of June 30, 2018 and December 31, 2017: New York and other states*: June 30, 2018 (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 994 1,164 - 1,251 Other 139 139 - 113 Real estate mortgage - 1 to 4 family: First mortgages 14,738 15,300 - 15,588 Home equity loans 255 275 - 263 Home equity lines of credit 2,705 2,946 - 2,687 Total $ 18,831 19,824 - 19,903 Florida: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,466 2,572 - 2,620 Home equity loans 87 87 - 88 Home equity lines of credit 254 254 - 90 Total $ 2,807 2,913 - 2,798 Total: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 994 1,164 - 1,251 Other 139 139 - 113 Real estate mortgage - 1 to 4 family: First mortgages 17,204 17,872 - 18,208 Home equity loans 342 362 - 351 Home equity lines of credit 2,959 3,200 - 2,777 Total $ 21,638 22,737 - 22,700 * Includes New York, New Jersey, Vermont and Massachusetts. New York and other states*: December 31, 2017 (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 2,148 3,120 - 2,711 Other 100 100 - 87 Real estate mortgage - 1 to 4 family: First mortgages 15,850 16,540 - 16,508 Home equity loans 270 291 - 263 Home equity lines of credit 2,606 2,847 - 2,193 Total $ 20,974 22,898 - 21,762 Florida: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,707 2,813 - 2,335 Home equity loans 89 89 - 92 Home equity lines of credit 510 510 - 561 Total $ 3,306 3,412 - 2,988 Total: (dollars in thousands) Recorded Unpaid Related Average Commercial: Commercial real estate $ 2,148 3,120 - 2,711 Other 100 100 - 87 Real estate mortgage - 1 to 4 family: First mortgages 18,557 19,353 - 18,843 Home equity loans 359 380 - 355 Home equity lines of credit 3,116 3,357 - 2,754 Total $ 24,280 26,310 - 24,750 * Includes New York, New Jersey, Vermont and Massachusetts. |
Modified Loans by Class That Were Determined to be TDR's | The following table presents, by class, loans that were modified as TDR’s: Three months ended 6/30/2018 Three months ended 6/30/2017 New York and other states*: Pre-Modification Post-Modification Pre-Modification Post-Modification (dollars in thousands) Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Commercial: Commercial real estate - $ - - 3 $ 747 747 Real estate mortgage - 1 to 4 family: First mortgages 2 125 125 7 1,098 1,098 Home equity loans - - - - - - Home equity lines of credit - - - 1 3 3 Total 2 $ 125 125 11 $ 1,848 1,848 Florida: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages - - - 4 387 387 Home equity loans - - - - - - Home equity lines of credit - - - - - - Total - $ - - 4 $ 387 387 Six months ended 6/30/2018 Six months ended 6/30/2017 New York and other states*: Pre-Modification Post-Modification Pre-Modification Post-Modification (dollars in thousands) Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Number of Contracts Outstanding Recorded Investment Outstanding Recorded Investment Commercial: Commercial real estate - $ - - 3 $ 747 747 Real estate mortgage - 1 to 4 family: First mortgages 4 598 598 18 3,045 3,045 Home equity loans - - - 1 13 13 Home equity lines of credit 2 208 208 5 161 161 Total 6 $ 806 806 27 $ 3,966 3,966 Florida: Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial: Real estate mortgage - 1 to 4 family: First mortgages - $ - - 5 $ 467 467 Home equity loans - - - - - - Home equity lines of credit - - - 1 70 70 Total - $ - - 6 $ 537 537 * Includes New York, New Jersey, Vermont and Massachusetts. |
Loans by Class Modified as TDR's For Which There was a Payment Default | The following table presents, by class, TDR’s that defaulted during the three and six months ended June 30, 2018 and 2017 which had been modified within the last twelve months: Three months ended 6/30/2018 Three months ended 6/30/2017 New York and other states*: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - - $ - Home equity lines of credit - - 1 3 Total - $ - 1 $ 3 Florida: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - 1 $ 46 Total - $ - 1 $ 46 Six months ended 6/30/2018 Six months ended 6/30/2017 New York and other states*: (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages - $ - - $ - Home equity loans - - - - Home equity lines of credit 1 3 1 3 Total 1 $ 3 1 $ 3 Florida: Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages 1 $ 72 1 $ 77 Home equity lines of credit - - 1 70 Total 1 $ 72 2 $ 147 * Includes New York, New Jersey, Vermont and Massachusetts. |
Risk Category Loans by Class of Loans | As of June 30, 2018 and December 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2018 New York and other states*: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 148,652 6,098 154,750 Other 23,760 1,512 25,272 $ 172,412 7,610 180,022 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 10,456 116 10,572 Other 310 - 310 $ 10,766 116 10,882 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 159,108 6,214 165,322 Other 24,070 1,512 25,582 $ 183,178 7,726 190,904 * Includes New York, New Jersey and Massachusetts. December 31, 2017 New York and other states*: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 140,806 8,562 149,368 Other 21,936 1,670 23,606 $ 162,742 10,232 172,974 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 12,406 118 12,524 Other 709 - 709 $ 13,115 118 13,233 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 153,212 8,680 161,892 Other 22,645 1,670 24,315 $ 175,857 10,350 186,207 * Includes New York, New Jersey and Massachusetts. |
Fair Value of Financial Instr22
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 150,704 $ - $ 150,704 $ - State and political subdivisions 524 - 524 - Corporate bonds 29,977 - 29,977 - Mortgage backed securities and collateralized mortgage obligations 283,252 - 283,252 - Small Business Administration – guaranteed participation securities 61,876 - 61,876 - Other securities 685 - 685 - Total securities available for sale $ 527,018 $ - $ 527,018 $ - (dollars in thousands) Fair Value Measurements at Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Securities available for sale: U.S. government sponsored enterprises $ 137,851 $ - $ 137,851 $ - State and political subdivisions 525 - 525 - Mortgage backed securities and collateralized mortgage obligations 325,683 - 325,683 - Corporate bonds 40,162 - 40,162 - Small Business Administration - guaranteed participation securities 67,059 - 67,059 - Other securities 685 685 Total securities available for sale $ 571,965 $ - $ 571,965 $ - |
Assets Measured at Fair Value on Non-Recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2018 Using: (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 2,569 $ - $ - $ 2,569 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Real estate mortgage - 1 to 4 family 454 - - 454 Sales comparison approach Adjustments for differences between comparable sales 5% - 14% (10%) Fair Value Measurements at December 31, 2017 Using: (dollars in thousands) Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation technique Unobservable inputs Range (Weighted Average) Other real estate owned $ 3,246 $ - $ - $ 3,246 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Real estate mortgage - 1 to 4 family 844 - - 844 Sales comparison approach Adjustments for differences between comparable sales 5% - 14% (10%) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | the carrying amounts and estimated fair values of financial instruments, at June 30, 2018 and December 31, 2017 are as follows: (dollars in thousands) Carrying Fair Value Measurements at June 30, 2018 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 586,616 586,616 - - 586,616 Securities available for sale 527,018 35 526,983 - 527,018 Held to maturity securities 24,730 - 25,303 - 25,303 Federal Reserve Bank and Federal Home Loan Bank stock 8,953 N/A N/A N/A N/A Net loans 3,696,652 - - 3,650,308 3,650,308 Accrued interest receivable 11,329 284 2,495 8,550 11,329 Financial liabilities: Demand deposits 404,564 404,564 - - 404,564 Interest bearing deposits 3,850,706 2,695,492 1,143,088 - 3,838,580 Short-term borrowings 182,705 - 182,705 - 182,705 Accrued interest payable 695 74 621 - 695 (dollars in thousands) Carrying Fair Value Measurements at December 31, 2017 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 612,740 612,740 - - 612,740 Securities available for sale 571,965 35 571,930 - 571,965 Held to maturity securities 27,551 - 28,701 - 28,701 Federal Reserve Bank and Federal Home Loan Bank stock 8,779 N/A N/A N/A N/A Net loans 3,592,237 - - 3,598,213 3,598,213 Accrued interest receivable 11,441 243 2,440 8,758 11,441 Financial liabilities: Demand deposits 398,399 398,399 - - 398,399 Interest bearing deposits 3,774,927 2,707,961 1,076,213 - 3,784,174 Short-term borrowings 242,991 - 242,991 - 242,991 Accrued interest payable 537 77 460 - 537 |
Accumulated Other Comprehensi23
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated Other Comprehensive (Loss) Income Balances, Net of Tax | The following is a summary of the accumulated other comprehensive (loss) income balances, net of tax: Three months ended 6/30/2018 (dollars in thousands) Balance at 4/1/2018 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Three months ended 6/30/2018 Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (10,332 ) (1,244 ) - (1,244 ) (11,576 ) Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax 3,188 - (62 ) (62 ) 3,126 Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (1,346 ) - - - (1,346 ) Accumulated other comprehensive income (loss), net of tax $ (8,490 ) (1,244 ) (62 ) (1,306 ) (9,796 ) Three months ended 6/30/2017 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (6,055 ) 2,006 - 2,006 (4,049 ) Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax 487 - (31 ) (31 ) 456 Accumulated other comprehensive income (loss), net of tax $ (5,568 ) 2,006 (31 ) 1,975 (3,593 ) Six months ended 6/30/2018 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (5,030 ) (6,546 ) - (6,546 ) (11,576 ) Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax 3,224 - (98 ) (98 ) 3,126 Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect - - (1,346 ) - (1,346 ) Accumulated other comprehensive income (loss), net of tax $ (1,806 ) (6,546 ) (1,444 ) (6,644 ) (9,796 ) Six months ended 6/30/2017 (dollars in thousands) Balance at Other Amount Other Balance at Net unrealized holding gain (loss) on securities available for sale, net of tax $ (6,762 ) 2,713 - 2,713 (4,049 ) Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax 511 - (55 ) (55 ) 456 Accumulated other comprehensive income (loss), net of tax $ (6,251 ) 2,713 (55 ) 2,658 (3,593 ) |
Reclassifications out of Accumulated Other Comprehensive Income (Loss) | The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2018 and 2017: (dollars in thousands) Three months ended Six months ended 2018 2017 2018 2017 Affected Line Item in Statements Amortization of pension and postretirement benefit items: Amortization of net actuarial gain $ 106 73 $ 178 136 Salaries and employee benefits Amortization of prior service cost (22 ) (22 ) (45 ) (45 ) Salaries and employee benefits Income tax effect (22 ) (20 ) (35 ) (36 ) Income taxes Net of tax 62 31 98 55 Total reclassifications, net of tax $ 62 31 $ 98 55 |
Revenue from Contracts with C24
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contracts with Customers [Abstract] | |
Source of Non-Interest Income | The following table presents the Company’s sources of Non-Interest Income for the three months and six months ended June 30, 2018 and 2017. Items outside the scope of ASC 606 are noted as such. (dollars in thousands) Three months ended Six months ended 2018 2017 2018 2017 Non-interest income Service Charges on Deposits Overdraft fees $ 823 $ 876 $ 1,650 $ 1,735 Other 96 153 210 232 Interchange Income 1,170 1,253 2,476 2,519 Wealth management fees 1,596 1,425 3,411 3,283 Other (a) 810 797 1,427 1,462 Total non-interest income $ 4,495 $ 4,504 $ 9,174 $ 9,231 (a) Not within the scope of ASC 606. |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reconciliation of the component parts of earnings per share [Abstract] | ||||
Net income | $ 15,405 | $ 12,240 | $ 30,213 | $ 23,187 |
Weighted average common shares (in shares) | 96,449 | 96,003 | 96,401 | 95,944 |
Effect of dilutive common stock options (in shares) | 131 | 70 | 134 | 90 |
Weighted average common shares including potential dilutive shares (in shares) | 96,580 | 96,073 | 96,535 | 96,034 |
Basic EPS (in dollars per share) | $ 0.160 | $ 0.127 | $ 0.313 | $ 0.242 |
Diluted EPS (in dollars per share) | $ 0.160 | $ 0.127 | $ 0.313 | $ 0.241 |
Stock Options [Member] | ||||
Antidilutive Securities [Abstract] | ||||
Weighted average number of antidilutive stock options excluded from diluted earnings per share (in shares) | 0 | 412 | 0 | 412 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
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 | $ 6 | $ 11 | 17 | $ 22 |
Interest cost | 273 | 322 | 599 | 651 |
Expected return on plan assets | (819) | (686) | (1,506) | (1,372) |
Amortization of net loss (gain) | (17) | 10 | 0 | 33 |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Net periodic benefit | (557) | (343) | (890) | (666) |
Other Postretirement Benefits [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 26 | 23 | 52 | 51 |
Interest cost | 55 | 54 | 109 | 110 |
Expected return on plan assets | (191) | (190) | (381) | (381) |
Amortization of net loss (gain) | (89) | (83) | (178) | (169) |
Amortization of prior service cost | 22 | 22 | 45 | 45 |
Net periodic benefit | $ (177) | $ (174) | $ (353) | $ (344) |
Investment Securities, Availabl
Investment Securities, Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | $ 544,588 | $ 580,705 |
Gross Unrealized Gains | 71 | 121 |
Gross Unrealized Losses | 17,641 | 8,861 |
Fair Value | 527,018 | 571,965 |
U. S. Government Sponsored Enterprises [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 154,863 | 139,890 |
Gross Unrealized Gains | 0 | 27 |
Gross Unrealized Losses | 4,159 | 2,066 |
Fair Value | 150,704 | 137,851 |
State and Political Subdivisions [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 515 | 515 |
Gross Unrealized Gains | 9 | 10 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 524 | 525 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 294,398 | 330,424 |
Gross Unrealized Gains | 62 | 84 |
Gross Unrealized Losses | 11,208 | 4,825 |
Fair Value | 283,252 | 325,683 |
Corporate Bonds [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 30,132 | 40,270 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 155 | 108 |
Fair Value | 29,977 | 40,162 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 63,995 | 68,921 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 2,119 | 1,862 |
Fair Value | 61,876 | 67,059 |
Other [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 685 | 685 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 685 | $ 685 |
Investment Securities, Availa28
Investment Securities, Available-for-sale Securities, Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized Cost [Abstract] | ||
Due in one year or less | $ 10,709 | |
Due in one year through five years | 165,392 | |
Due after five years through ten years | 10,094 | |
Amortized Cost | 544,588 | $ 580,705 |
Fair Value [Abstract] | ||
Due in one year or less | 10,642 | |
Due in one year through five years | 161,227 | |
Due after five years through ten years | 10,021 | |
Fair Value | 527,018 | 571,965 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 294,398 | |
Amortized Cost | 294,398 | 330,424 |
Fair Value [Abstract] | ||
Securities, fair value | 283,252 | |
Fair Value | 283,252 | 325,683 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 63,995 | |
Amortized Cost | 63,995 | 68,921 |
Fair Value [Abstract] | ||
Securities, fair value | 61,876 | |
Fair Value | $ 61,876 | $ 67,059 |
Investment Securities, Availa29
Investment Securities, Available-for-sale Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | $ 118,414 | $ 77,814 |
12 months or more - Fair Value | 400,964 | 481,405 |
Total - Fair Value | 519,378 | 559,219 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 2,451 | 637 |
12 months or more - Gross Unrealized Loss | 15,190 | 8,224 |
Total - Gross Unrealized Loss | 17,641 | 8,861 |
U. S. Government Sponsored Enterprises [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 68,671 | 29,734 |
12 months or more - Fair Value | 82,034 | 98,090 |
Total - Fair Value | 150,705 | 127,824 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 1,302 | 266 |
12 months or more - Gross Unrealized Loss | 2,857 | 1,800 |
Total - Gross Unrealized Loss | 4,159 | 2,066 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 34,750 | 48,080 |
12 months or more - Fair Value | 247,070 | 276,094 |
Total - Fair Value | 281,820 | 324,174 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 1,061 | 371 |
12 months or more - Gross Unrealized Loss | 10,147 | 4,454 |
Total - Gross Unrealized Loss | 11,208 | 4,825 |
Corporate Bonds [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 | 9,984 | 40,162 |
Total - Fair Value | 24,977 | 40,162 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 88 | 0 |
12 months or more - Gross Unrealized Loss | 67 | 108 |
Total - Gross Unrealized Loss | 155 | 108 |
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 | 61,876 | 67,059 |
Total - Fair Value | 61,876 | 67,059 |
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 | 2,119 | 1,862 |
Total - Gross Unrealized Loss | $ 2,119 | $ 1,862 |
Investment Securities, Availa30
Investment Securities, Available-for-sale Securities, Transaction Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investment Securities [Abstract] | ||||
Gross realized gains or losses | $ 0 | $ 0 | $ 0 | $ 0 |
Sales of available for sale securities | 0 | 0 | 0 | 0 |
Proceeds from calls | $ 24,500 | $ 52,800 | $ 49,481 | $ 73,569 |
Investment Securities, Held-to-
Investment Securities, Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | $ 24,730 | $ 27,551 |
Gross Unrecognized Gains | 700 | 1,150 |
Gross Unrecognized Losses | 127 | 0 |
Fair Value | 25,303 | 28,701 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | 24,730 | 27,551 |
Gross Unrecognized Gains | 700 | 1,150 |
Gross Unrecognized Losses | 127 | 0 |
Fair Value | $ 25,303 | $ 28,701 |
Investment Securities, Held-t32
Investment Securities, Held-to-maturity Securities, Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized Cost [Abstract] | ||
Amortized Cost | $ 24,730 | $ 27,551 |
Fair Value [Abstract] | ||
Fair Value | 25,303 | 28,701 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | ||
Amortized Cost [Abstract] | ||
Securities, amortized cost | 24,730 | |
Amortized Cost | 24,730 | 27,551 |
Fair Value [Abstract] | ||
Securities, fair value | 25,303 | |
Fair Value | $ 25,303 | $ 28,701 |
Investment Securities, Held-t33
Investment Securities, Held-to-maturity Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Fair Value [Abstract] | |||||
Less than 12 months - Fair Value | $ 12,072 | $ 12,072 | |||
12 months or more - Fair Value | 0 | 0 | |||
Total - Fair Value | 12,072 | 12,072 | |||
Gross Unrealized Loss [Abstract] | |||||
Less than 12 months - Gross Unrealized Loss | 127 | 127 | |||
12 months or more - Gross Unrealized Loss | 0 | 0 | |||
Total - Gross Unrealized Loss | 127 | 127 | $ 0 | ||
Sales and transfers of held to maturity securities | 0 | $ 0 | 0 | $ 0 | |
Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member] | |||||
Fair Value [Abstract] | |||||
Less than 12 months - Fair Value | 12,072 | 12,072 | |||
12 months or more - Fair Value | 0 | 0 | |||
Total - Fair Value | 12,072 | 12,072 | |||
Gross Unrealized Loss [Abstract] | |||||
Less than 12 months - Gross Unrealized Loss | 127 | 127 | |||
12 months or more - Gross Unrealized Loss | 0 | 0 | |||
Total - Gross Unrealized Loss | $ 127 | $ 127 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | $ 3,741,155 | $ 3,636,407 | |||||
Less: Allowance for loan losses | 44,503 | $ 44,379 | 44,170 | $ 44,162 | $ 44,048 | $ 43,890 | |
Net loans | 3,696,652 | 3,592,237 | |||||
New York and Other States [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | [1] | 2,857,191 | 2,795,993 | ||||
Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 883,964 | 840,414 | |||||
Real Estate Construction Loans [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 33,800 | 30,900 | |||||
Residential Borrowers [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 20,400 | 21,100 | |||||
Commercial Borrowers Residential Purpose [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 13,400 | 9,800 | |||||
Commercial [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 190,904 | 186,207 | |||||
Less: Allowance for loan losses | 4,195 | 4,255 | 4,324 | 4,596 | 4,810 | 4,929 | |
Commercial [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | [1] | 180,022 | 172,974 | ||||
Commercial [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 10,882 | 13,233 | |||||
Commercial [Member] | Commercial Real Estate [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 165,322 | 161,892 | |||||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | [1] | 154,750 | 149,368 | ||||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 10,572 | 12,524 | |||||
Commercial [Member] | Other [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 25,582 | 24,315 | |||||
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | [1] | 25,272 | 23,606 | ||||
Commercial [Member] | Other [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 310 | 709 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 3,540,942 | 3,441,437 | |||||
Less: Allowance for loan losses | 39,471 | 39,359 | 39,077 | 38,871 | 38,581 | 38,231 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 3,160,757 | 3,052,077 | |||||
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] | 2,347,928 | 2,286,148 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 812,829 | 765,929 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 84,394 | 80,444 | |||||
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] | 69,123 | 66,455 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 15,271 | 13,989 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 295,791 | 308,916 | |||||
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] | 251,845 | 263,275 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 43,946 | 45,641 | |||||
Installment [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | 9,309 | 8,763 | |||||
Less: Allowance for loan losses | 837 | $ 765 | 769 | $ 695 | $ 657 | $ 730 | |
Installment [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | [1] | 8,273 | 7,141 | ||||
Installment [Member] | Florida [Member] | |||||||
Loans and Leases Receivable [Abstract] | |||||||
Total loans, net | $ 1,036 | $ 1,622 | |||||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses, Non-accrual Loans, By Loan Class (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | $ 24,125 | $ 24,339 | |
Restructured real estate mortgages - 1 to 4 family | 36 | 38 | |
Total nonperforming loans | 24,161 | 24,377 | |
Other real estate owned | 1,800 | 2,700 | |
New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 21,982 | 21,950 |
Restructured real estate mortgages - 1 to 4 family | [1] | 36 | 38 |
Total nonperforming loans | [1] | 22,018 | 21,988 |
Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 2,143 | 2,389 | |
Restructured real estate mortgages - 1 to 4 family | 0 | 0 | |
Total nonperforming loans | 2,143 | 2,389 | |
Residential Real Estate [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Non accrual residential mortgage loans in the process of foreclosure | 12,800 | 12,600 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 659 | 1,443 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 659 | 1,443 |
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 | 108 | 100 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 108 | 100 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 19,636 | 18,913 | |
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] | 17,619 | 16,654 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 2,017 | 2,259 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 201 | 93 | |
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] | 201 | 93 |
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 | 0 | 0 | |
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 | 3,515 | 3,733 | |
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] | 3,389 | 3,603 |
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 | 126 | 130 | |
Installment [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | 6 | 57 | |
Installment [Member] | New York and Other States [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | [1] | 6 | 57 |
Installment [Member] | Florida [Member] | |||
Non accrual loans by loan class [Abstract] | |||
Total non-accrual loans | $ 0 | $ 0 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses, Past Due (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | ||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | $ 22,938 | $ 22,272 | |
Current | 3,718,217 | 3,614,135 | |
Total loans | 3,741,155 | 3,636,407 | |
Loans that are 90 days past due and still accruing interest | $ 0 | $ 0 | |
Number of days past due | 90 days | 90 days | |
New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | $ 21,489 | $ 20,557 |
Current | [1] | 2,835,702 | 2,775,436 |
Total loans | [1] | 2,857,191 | 2,795,993 |
Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 1,449 | 1,715 | |
Current | 882,515 | 838,699 | |
Total loans | 883,964 | 840,414 | |
30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 4,198 | 6,673 | |
30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 3,674 | 6,393 |
30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 524 | 280 | |
60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 2,014 | 1,514 | |
60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 2,009 | 1,509 |
60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 5 | 5 | |
90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 16,726 | 14,085 | |
90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 15,806 | 12,655 |
90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 920 | 1,430 | |
Commercial [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 190,904 | 186,207 | |
Commercial [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | [1] | 180,022 | 172,974 |
Commercial [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 10,882 | 13,233 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 615 | 1,689 | |
Current | 164,707 | 160,203 | |
Total loans | 165,322 | 161,892 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 615 | 1,689 |
Current | [1] | 154,135 | 147,679 |
Total loans | [1] | 154,750 | 149,368 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Current | 10,572 | 12,524 | |
Total loans | 10,572 | 12,524 | |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 183 | |
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] | |||
Total 30+ days Past Due | [1] | 0 | 183 |
Commercial [Member] | Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 174 | 174 | |
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] | |||
Total 30+ days Past Due | [1] | 174 | 174 |
Commercial [Member] | Commercial Real Estate [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 441 | 1,332 | |
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] | |||
Total 30+ days Past Due | [1] | 441 | 1,332 |
Commercial [Member] | Commercial Real Estate [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Other [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 108 | 100 | |
Current | 25,474 | 24,215 | |
Total loans | 25,582 | 24,315 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 108 | 100 |
Current | [1] | 25,164 | 23,506 |
Total loans | [1] | 25,272 | 23,606 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Current | 310 | 709 | |
Total loans | 310 | 709 | |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 8 | 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] | |||
Total 30+ days Past Due | [1] | 8 | 0 |
Commercial [Member] | Other [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 0 | 0 |
Commercial [Member] | Other [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 100 | 100 | |
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] | |||
Total 30+ days Past Due | [1] | 100 | 100 |
Commercial [Member] | Other [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 3,540,942 | 3,441,437 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 19,052 | 17,664 | |
Current | 3,141,705 | 3,034,413 | |
Total loans | 3,160,757 | 3,052,077 | |
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] | |||
Total 30+ days Past Due | [1] | 17,784 | 15,983 |
Current | [1] | 2,330,144 | 2,270,165 |
Total loans | [1] | 2,347,928 | 2,286,148 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 1,268 | 1,681 | |
Current | 811,561 | 764,248 | |
Total loans | 812,829 | 765,929 | |
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] | |||
Total 30+ days Past Due | 3,375 | 5,946 | |
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] | |||
Total 30+ days Past Due | [1] | 2,957 | 5,669 |
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] | |||
Total 30+ days Past Due | 418 | 277 | |
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] | |||
Total 30+ days Past Due | 1,584 | 1,300 | |
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] | |||
Total 30+ days Past Due | [1] | 1,584 | 1,300 |
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] | |||
Total 30+ days Past Due | 0 | 0 | |
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] | |||
Total 30+ days Past Due | 14,093 | 10,418 | |
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] | |||
Total 30+ days Past Due | [1] | 13,243 | 9,014 |
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] | |||
Total 30+ days Past Due | 850 | 1,404 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 228 | 51 | |
Current | 84,166 | 80,393 | |
Total loans | 84,394 | 80,444 | |
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] | |||
Total 30+ days Past Due | [1] | 177 | 51 |
Current | [1] | 68,946 | 66,404 |
Total loans | [1] | 69,123 | 66,455 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 51 | 0 | |
Current | 15,220 | 13,989 | |
Total loans | 15,271 | 13,989 | |
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] | |||
Total 30+ days Past Due | 51 | 6 | |
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] | |||
Total 30+ days Past Due | [1] | 0 | 6 |
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] | |||
Total 30+ days Past Due | 51 | 0 | |
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] | |||
Total 30+ days Past Due | 13 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 13 | 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 164 | 45 | |
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] | |||
Total 30+ days Past Due | [1] | 164 | 45 |
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] | |||
Total 30+ days Past Due | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 2,827 | 2,646 | |
Current | 292,964 | 306,270 | |
Total loans | 295,791 | 308,916 | |
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] | |||
Total 30+ days Past Due | [1] | 2,717 | 2,646 |
Current | [1] | 249,128 | 260,629 |
Total loans | [1] | 251,845 | 263,275 |
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] | |||
Total 30+ days Past Due | 110 | 0 | |
Current | 43,836 | 45,641 | |
Total loans | 43,946 | 45,641 | |
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] | |||
Total 30+ days Past Due | 690 | 489 | |
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] | |||
Total 30+ days Past Due | [1] | 650 | 489 |
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] | |||
Total 30+ days Past Due | 40 | 0 | |
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] | |||
Total 30+ days Past Due | 212 | 18 | |
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] | |||
Total 30+ days Past Due | [1] | 212 | 18 |
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] | |||
Total 30+ days Past Due | 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] | |||
Total 30+ days Past Due | 1,925 | 2,139 | |
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] | |||
Total 30+ days Past Due | [1] | 1,855 | 2,139 |
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] | |||
Total 30+ days Past Due | 70 | 0 | |
Installment [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 108 | 122 | |
Current | 9,201 | 8,641 | |
Total loans | 9,309 | 8,763 | |
Installment [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 88 | 88 |
Current | [1] | 8,185 | 7,053 |
Total loans | [1] | 8,273 | 7,141 |
Installment [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 20 | 34 | |
Current | 1,016 | 1,588 | |
Total loans | 1,036 | 1,622 | |
Installment [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 74 | 49 | |
Installment [Member] | 30-59 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 59 | 46 |
Installment [Member] | 30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 15 | 3 | |
Installment [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 31 | 22 | |
Installment [Member] | 60-89 Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 26 | 17 |
Installment [Member] | 60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 5 | 5 | |
Installment [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 3 | 51 | |
Installment [Member] | 90+ Days Past Due [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | [1] | 3 | 25 |
Installment [Member] | 90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | $ 0 | $ 26 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Allowance for loan losses by portfolio segment [Roll Forward] | |||||
Balance at beginning of period | $ 44,379 | $ 44,048 | $ 44,170 | $ 43,890 | |
Loans charged off [Abstract] | |||||
Total loan charge offs | 283 | 627 | 488 | 1,256 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 107 | 191 | 221 | 378 | |
Net loans charged off (recoveries) | 176 | 436 | 267 | 878 | |
Provision (recoveries) for loan losses | 300 | 550 | 600 | 1,150 | |
Balance at end of period | 44,503 | 44,162 | 44,503 | 44,162 | |
New York and Other States [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | [1] | 280 | 562 | 482 | 1,105 |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | [1] | 104 | 191 | 218 | 378 |
Florida [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | 3 | 65 | 6 | 151 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 3 | 0 | 3 | 0 | |
Commercial [Member] | |||||
Allowance for loan losses by portfolio segment [Roll Forward] | |||||
Balance at beginning of period | 4,255 | 4,810 | 4,324 | 4,929 | |
Loans charged off [Abstract] | |||||
Total loan charge offs | 0 | 0 | 0 | 72 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 1 | 0 | 7 | 8 | |
Net loans charged off (recoveries) | (1) | 0 | (7) | 64 | |
Provision (recoveries) for loan losses | (61) | (214) | (136) | (269) | |
Balance at end of period | 4,195 | 4,596 | 4,195 | 4,596 | |
Commercial [Member] | New York and Other States [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | [1] | 0 | 0 | 0 | 72 |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | [1] | 1 | 0 | 7 | 8 |
Commercial [Member] | Florida [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | 0 | 0 | 0 | 0 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 0 | 0 | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | |||||
Allowance for loan losses by portfolio segment [Roll Forward] | |||||
Balance at beginning of period | 39,359 | 38,581 | 39,077 | 38,231 | |
Loans charged off [Abstract] | |||||
Total loan charge offs | 239 | 574 | 370 | 1,088 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 89 | 188 | 192 | 357 | |
Net loans charged off (recoveries) | 150 | 386 | 178 | 731 | |
Provision (recoveries) for loan losses | 262 | 676 | 572 | 1,371 | |
Balance at end of period | 39,471 | 38,871 | 39,471 | 38,871 | |
Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | [1] | 239 | 522 | 370 | 952 |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | [1] | 89 | 188 | 192 | 357 |
Real Estate Mortgage - 1 to 4 Family [Member] | Florida [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | 0 | 52 | 0 | 136 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 0 | 0 | 0 | 0 | |
Installment [Member] | |||||
Allowance for loan losses by portfolio segment [Roll Forward] | |||||
Balance at beginning of period | 765 | 657 | 769 | 730 | |
Loans charged off [Abstract] | |||||
Total loan charge offs | 44 | 53 | 118 | 96 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | 17 | 3 | 22 | 13 | |
Net loans charged off (recoveries) | 27 | 50 | 96 | 83 | |
Provision (recoveries) for loan losses | 99 | 88 | 164 | 48 | |
Balance at end of period | 837 | 695 | 837 | 695 | |
Installment [Member] | New York and Other States [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | [1] | 41 | 40 | 112 | 81 |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | [1] | 14 | 3 | 19 | 13 |
Installment [Member] | Florida [Member] | |||||
Loans charged off [Abstract] | |||||
Total loan charge offs | 3 | 13 | 6 | 15 | |
Recoveries of loans previously charged off [Abstract] | |||||
Total recoveries | $ 3 | $ 0 | $ 3 | $ 0 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses, Based on Impairment Review Method (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | $ 0 | $ 0 | ||||
Collectively evaluated for impairment | 44,503 | 44,170 | ||||
Total ending allowance balance | 44,503 | $ 44,379 | 44,170 | $ 44,162 | $ 44,048 | $ 43,890 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 21,638 | 24,280 | ||||
Collectively evaluated for impairment | 3,719,517 | 3,612,127 | ||||
Total loans | 3,741,155 | 3,636,407 | ||||
Commercial [Member] | ||||||
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 4,195 | 4,324 | ||||
Total ending allowance balance | 4,195 | 4,255 | 4,324 | 4,596 | 4,810 | 4,929 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 1,133 | 2,248 | ||||
Collectively evaluated for impairment | 189,771 | 183,959 | ||||
Total loans | 190,904 | 186,207 | ||||
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 | 39,471 | 39,077 | ||||
Total ending allowance balance | 39,471 | 39,359 | 39,077 | 38,871 | 38,581 | 38,231 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 20,505 | 22,032 | ||||
Collectively evaluated for impairment | 3,520,437 | 3,419,405 | ||||
Total loans | 3,540,942 | 3,441,437 | ||||
Installment [Member] | ||||||
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 837 | 769 | ||||
Total ending allowance balance | 837 | $ 765 | 769 | $ 695 | $ 657 | $ 730 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 9,309 | 8,763 | ||||
Total loans | $ 9,309 | $ 8,763 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses, Impaired Receivables (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | ||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | $ 21,638 | $ 24,280 | |
Unpaid Principal Balance | 22,737 | 26,310 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 22,700 | 24,750 | |
New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 18,831 | 20,974 |
Unpaid Principal Balance | [1] | 19,824 | 22,898 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 19,903 | 21,762 |
Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 2,807 | 3,306 | |
Unpaid Principal Balance | 2,913 | 3,412 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 2,798 | 2,988 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 994 | 2,148 | |
Unpaid Principal Balance | 1,164 | 3,120 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,251 | 2,711 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 994 | 2,148 |
Unpaid Principal Balance | [1] | 1,164 | 3,120 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 1,251 | 2,711 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 0 | 0 | |
Unpaid Principal Balance | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Commercial [Member] | Other [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 139 | 100 | |
Unpaid Principal Balance | 139 | 100 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 113 | 87 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 139 | 100 |
Unpaid Principal Balance | [1] | 139 | 100 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 113 | 87 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 0 | 0 | |
Unpaid Principal Balance | 0 | 0 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 0 | 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 17,204 | 18,557 | |
Unpaid Principal Balance | 17,872 | 19,353 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 18,208 | 18,843 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 14,738 | 15,850 |
Unpaid Principal Balance | [1] | 15,300 | 16,540 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 15,588 | 16,508 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 2,466 | 2,707 | |
Unpaid Principal Balance | 2,572 | 2,813 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 2,620 | 2,335 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 342 | 359 | |
Unpaid Principal Balance | 362 | 380 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 351 | 355 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 255 | 270 |
Unpaid Principal Balance | [1] | 275 | 291 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 263 | 263 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 87 | 89 | |
Unpaid Principal Balance | 87 | 89 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 88 | 92 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 2,959 | 3,116 | |
Unpaid Principal Balance | 3,200 | 3,357 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 2,777 | 2,754 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | [1] | 2,705 | 2,606 |
Unpaid Principal Balance | [1] | 2,946 | 2,847 |
Related Allowance | [1] | 0 | 0 |
Average Recorded Investment | [1] | 2,687 | 2,193 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||
Impaired loans by loans class [Abstract] | |||
Recorded Investment | 254 | 510 | |
Unpaid Principal Balance | 254 | 510 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | $ 90 | $ 561 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | Dec. 31, 2017USD ($) | ||
Trouble Debt Restructuring Receivable [Abstract] | ||||||
TDR's classifications from previously performing loans | $ 10,000 | $ 10,000 | $ 11,800 | |||
New York and Other States [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | [1] | 2 | 11 | 6 | 27 | |
Pre-Modification Outstanding Recorded Investment | [1] | $ 125 | $ 1,848 | $ 806 | $ 3,966 | |
Post-Modification Outstanding Recorded Investment | [1] | $ 125 | $ 1,848 | $ 806 | $ 3,966 | |
Florida [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | 0 | 4 | 0 | 6 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 387 | $ 0 | $ 537 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 387 | $ 0 | $ 537 | ||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | [1] | 0 | 3 | 0 | 3 | |
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 747 | $ 0 | $ 747 | |
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 747 | $ 0 | $ 747 | |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | 0 | 0 | ||||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | [1] | 2 | 7 | 4 | 18 | |
Pre-Modification Outstanding Recorded Investment | [1] | $ 125 | $ 1,098 | $ 598 | $ 3,045 | |
Post-Modification Outstanding Recorded Investment | [1] | $ 125 | $ 1,098 | $ 598 | $ 3,045 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | 0 | 4 | 0 | 5 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 387 | $ 0 | $ 467 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 387 | $ 0 | $ 467 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | [1] | 0 | 0 | 0 | 1 | |
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | $ 0 | $ 13 | |
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 0 | $ 0 | $ 13 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | 0 | 0 | ||||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | [1] | 0 | 1 | 2 | 5 | |
Pre-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 3 | $ 208 | $ 161 | |
Post-Modification Outstanding Recorded Investment | [1] | $ 0 | $ 3 | $ 208 | $ 161 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | ||||||
Modified loans by class determined to be TDR's [Abstract] | ||||||
Number of Contracts | Contract | 0 | 0 | 0 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 70 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 70 | ||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 41
Loans and Allowance for Loan Losses, Modified Loans Payment Status (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2017USD ($)Contract | ||
Loans and Allowance for Loan Losses [Abstract] | |||||
Deferral period of chapter 13 bankruptcies | 60 months | ||||
Number of days past due when loans are considered to be in payment default | 90 days | ||||
Contractual past due period for loans to be in payment default | 30 days | ||||
New York and Other States [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 1 | 1 | 1 |
Recorded Investment | $ | [1] | $ 0 | $ 3 | $ 3 | $ 3 |
Florida [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | 0 | 1 | 1 | 2 | |
Recorded Investment | $ | $ 0 | $ 46 | $ 72 | $ 147 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 0 | 0 | 0 |
Recorded Investment | $ | [1] | $ 0 | $ 0 | $ 0 | $ 0 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | 0 | 1 | 1 | 1 | |
Recorded Investment | $ | $ 0 | $ 46 | $ 72 | $ 77 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 0 | ||
Recorded Investment | $ | [1] | $ 0 | $ 0 | ||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | [1] | 0 | 1 | 1 | 1 |
Recorded Investment | $ | [1] | $ 0 | $ 3 | $ 3 | $ 3 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||||
Loans modified for which there was payment default [Abstract] | |||||
Number of Contracts | Contract | 0 | 1 | |||
Recorded Investment | $ | $ 0 | $ 70 | |||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 42
Loans and Allowance for Loan Losses, Risk Category of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Loans and Leases Receivable [Abstract] | |||
Total loans, net | $ 3,741,155 | $ 3,636,407 | |
Non-accrual loans included in classified loans | 1,000 | 2,200 | |
New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 2,857,191 | 2,795,993 |
Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 883,964 | 840,414 | |
Commercial [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 190,904 | 186,207 | |
Commercial [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 180,022 | 172,974 |
Commercial [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 10,882 | 13,233 | |
Commercial [Member] | Pass [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 183,178 | 175,857 | |
Commercial [Member] | Pass [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 172,412 | 162,742 |
Commercial [Member] | Pass [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 10,766 | 13,115 | |
Commercial [Member] | Classified [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 7,726 | 10,350 | |
Commercial [Member] | Classified [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 7,610 | 10,232 |
Commercial [Member] | Classified [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 116 | 118 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 165,322 | 161,892 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 154,750 | 149,368 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 10,572 | 12,524 | |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 159,108 | 153,212 | |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 148,652 | 140,806 |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 10,456 | 12,406 | |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 6,214 | 8,680 | |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 6,098 | 8,562 |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 116 | 118 | |
Commercial [Member] | Other [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 25,582 | 24,315 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 25,272 | 23,606 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 310 | 709 | |
Commercial [Member] | Other [Member] | Pass [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 24,070 | 22,645 | |
Commercial [Member] | Other [Member] | Pass [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 23,760 | 21,936 |
Commercial [Member] | Other [Member] | Pass [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 310 | 709 | |
Commercial [Member] | Other [Member] | Classified [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | 1,512 | 1,670 | |
Commercial [Member] | Other [Member] | Classified [Member] | New York and Other States [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | [1] | 1,512 | 1,670 |
Commercial [Member] | Other [Member] | Classified [Member] | Florida [Member] | |||
Loans and Leases Receivable [Abstract] | |||
Total loans, net | $ 0 | $ 0 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Fair Value of Financial Instr43
Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value Recurring Basis(Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Securities available for sale [Abstract] | |||
Fair Value | $ 527,018 | $ 571,965 | |
Fair value assets transfers from Level 1 to Level 2 | 0 | $ 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Securities available for sale [Abstract] | |||
Fair Value | 35 | 35 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Securities available for sale [Abstract] | |||
Fair Value | 526,983 | 571,930 | |
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 | 527,018 | 571,965 | |
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 | |
Corporate bonds | 0 | 0 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 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 | 150,704 | 137,851 | |
State and political subdivisions | 524 | 525 | |
Corporate bonds | 29,977 | 40,162 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 283,252 | 325,683 | |
Small Business Administration - guaranteed participation securities | 61,876 | 67,059 | |
Other securities | 685 | 685 | |
Fair Value | 527,018 | 571,965 | |
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 | |
Corporate bonds | 0 | 0 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 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 | 150,704 | 137,851 | |
State and political subdivisions | 524 | 525 | |
Corporate bonds | 29,977 | 40,162 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 283,252 | 325,683 | |
Small Business Administration - guaranteed participation securities | 61,876 | 67,059 | |
Other securities | 685 | 685 | |
Fair Value | $ 527,018 | $ 571,965 |
Fair Value of Financial Instr44
Fair Value of Financial Instruments, Assets and Liabilities Measured at Fair Value Non-recurring Basis (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
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 | us-gaap:MarketApproachValuationTechniqueMember |
Other real estate owned, Measurement Input [Extensible List] | us-gaap:MeasurementInputComparabilityAdjustmentMember | us-gaap:MeasurementInputComparabilityAdjustmentMember | us-gaap:MeasurementInputComparabilityAdjustmentMember |
Impaired loans [Abstract] | |||
Other real estate owned, commercial real estate | $ 730 | $ 730 | $ 541 |
Other real estate owned, residential real estate properties | 1,800 | 1,800 | 2,700 |
Valuation charge on other real estate owned | 30 | 230 | 1,100 |
Impaired loans | 21,638 | 21,638 | 24,280 |
Collateral dependent impaired loans | 454 | 454 | 844 |
Gross charge offs, commercial impaired loans | 0 | 0 | |
Gross charge offs, residential impaired loans | 0 | 36 | 151 |
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 | 0 | 0 | 0 |
Impaired loans [Abstract] | |||
Real estate mortgage - 1 to 4 family | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other Real Estate | 0 | 0 | 0 |
Impaired loans [Abstract] | |||
Real estate mortgage - 1 to 4 family | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other Real Estate | 2,569 | 2,569 | 3,246 |
Impaired loans [Abstract] | |||
Real estate mortgage - 1 to 4 family | $ 454 | $ 454 | $ 844 |
Nonrecurring [Member] | Minimum [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | 0.01 | 0.01 | 0.01 |
Nonrecurring [Member] | Maximum [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | 0.14 | 0.14 | 0.14 |
Nonrecurring [Member] | Weighted Average [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned, unobservable inputs | 0.07 | 0.07 | 0.07 |
Nonrecurring [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Minimum [Member] | Sales Comparison Approach [Member] | us-gaap_MeasurementInputComparabilityAdjustmentMember | |||
Impaired loans [Abstract] | |||
Impaired loans, unobservable inputs | 0.05 | 0.05 | 0.05 |
Nonrecurring [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Maximum [Member] | Sales Comparison Approach [Member] | us-gaap_MeasurementInputComparabilityAdjustmentMember | |||
Impaired loans [Abstract] | |||
Impaired loans, unobservable inputs | 0.14 | 0.14 | 0.14 |
Nonrecurring [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | us-gaap_MeasurementInputComparabilityAdjustmentMember | |||
Impaired loans [Abstract] | |||
Impaired loans, unobservable inputs | 0.1 | 0.1 | 0.1 |
Nonrecurring [Member] | Carrying Value [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other Real Estate | $ 2,569 | $ 2,569 | $ 3,246 |
Impaired loans [Abstract] | |||
Real estate mortgage - 1 to 4 family | $ 454 | $ 454 | $ 844 |
Fair Value of Financial Instr45
Fair Value of Financial Instruments, Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Financial assets [Abstract] | ||||
Cash and cash equivalents | $ 586,616 | $ 612,740 | $ 707,143 | $ 707,274 |
Securities available for sale | 527,018 | 571,965 | ||
Held to maturity securities | 25,303 | 28,701 | ||
Net loans | 3,650,308 | 3,598,213 | ||
Accrued interest receivable | 11,329 | 11,441 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 404,564 | 398,399 | ||
Interest bearing deposits | 3,838,580 | 3,784,174 | ||
Short-term borrowings | 182,705 | 242,991 | ||
Accrued interest payable | 695 | 537 | ||
Level 1 [Member] | ||||
Financial assets [Abstract] | ||||
Cash and cash equivalents | 586,616 | 612,740 | ||
Securities available for sale | 35 | 35 | ||
Held to maturity securities | 0 | 0 | ||
Net loans | 0 | 0 | ||
Accrued interest receivable | 284 | 243 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 404,564 | 398,399 | ||
Interest bearing deposits | 2,695,492 | 2,707,961 | ||
Short-term borrowings | 0 | 0 | ||
Accrued interest payable | 74 | 77 | ||
Level 2 [Member] | ||||
Financial assets [Abstract] | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 526,983 | 571,930 | ||
Held to maturity securities | 25,303 | 28,701 | ||
Net loans | 0 | 0 | ||
Accrued interest receivable | 2,495 | 2,440 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 0 | 0 | ||
Interest bearing deposits | 1,143,088 | 1,076,213 | ||
Short-term borrowings | 182,705 | 242,991 | ||
Accrued interest payable | 621 | 460 | ||
Level 3 [Member] | ||||
Financial assets [Abstract] | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 0 | 0 | ||
Held to maturity securities | 0 | 0 | ||
Net loans | 3,650,308 | 3,598,213 | ||
Accrued interest receivable | 8,550 | 8,758 | ||
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 | 586,616 | 612,740 | ||
Securities available for sale | 527,018 | 571,965 | ||
Held to maturity securities | 24,730 | 27,551 | ||
Federal Reserve Bank and Federal Home Loan Bank stock | 8,953 | 8,779 | ||
Net loans | 3,696,652 | 3,592,237 | ||
Accrued interest receivable | 11,329 | 11,441 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 404,564 | 398,399 | ||
Interest bearing deposits | 3,850,706 | 3,774,927 | ||
Short-term borrowings | 182,705 | 242,991 | ||
Accrued interest payable | $ 695 | $ 537 |
Accumulated Other Comprehensi46
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | $ 458,308 | $ 432,686 | ||
Other comprehensive income (loss) - before reclassifications | $ (1,244) | $ 2,006 | (6,546) | 2,713 |
Amount reclassified from accumulated other comprehensive income | (62) | (31) | (1,444) | (55) |
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | 0 | |||
Other comprehensive (loss) income, net of tax | (1,306) | 1,975 | (6,644) | 2,658 |
Balance | 470,815 | 447,366 | 470,815 | 447,366 |
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ||||
Balance | (8,490) | (5,568) | (1,806) | (6,251) |
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect | (1,346) | (1,346) | ||
Other comprehensive (loss) income, net of tax | (6,644) | 2,658 | ||
Balance | (9,796) | (3,593) | (9,796) | (3,593) |
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 | (10,332) | (6,055) | (5,030) | (6,762) |
Other comprehensive income (loss) - before reclassifications | (1,244) | 2,006 | (6,546) | 2,713 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive (loss) income, net of tax | (1,244) | 2,006 | (6,546) | 2,713 |
Balance | (11,576) | (4,049) | (11,576) | (4,049) |
Net Change in Net Actuarial (Gain) loss 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 | 3,188 | 487 | 3,224 | 511 |
Other comprehensive income (loss) - before reclassifications | 0 | 0 | 0 | 0 |
Amount reclassified from accumulated other comprehensive income | (62) | (31) | (98) | (55) |
Other comprehensive (loss) income, net of tax | (62) | (31) | (98) | (55) |
Balance | $ 3,126 | $ 456 | $ 3,126 | $ 456 |
Accumulated Other Comprehensi47
Accumulated Other Comprehensive Income (Loss), Reclassifications out of accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Abstract] | ||||
Salaries and employee benefits | $ 10,741 | $ 9,559 | $ 21,163 | $ 19,769 |
Income tax effect | 4,804 | 7,342 | 9,535 | 13,903 |
Net income | 15,405 | 12,240 | 30,213 | 23,187 |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Abstract] | ||||
Net income | 62 | 31 | 98 | 55 |
Amortization of Pension and Postretirement Benefit Items [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Abstract] | ||||
Income tax effect | (22) | (20) | (35) | (36) |
Net income | 62 | 31 | 98 | 55 |
Amortization of Net Actuarial Gain [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Abstract] | ||||
Salaries and employee benefits | 106 | 73 | 178 | 136 |
Amortization of Prior Service Cost [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Abstract] | ||||
Salaries and employee benefits | $ (22) | $ (22) | $ (45) | $ (45) |
Revenue from Contracts with C48
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | ||
Sources of non-interest income [Abstract] | |||||
Other | [1] | $ 810 | $ 797 | $ 1,427 | $ 1,462 |
Total non-interest income | 4,495 | 4,504 | 9,174 | 9,231 | |
Overdraft Fees [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 823 | 876 | 1,650 | 1,735 | |
Other [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 96 | 153 | 210 | 232 | |
Interchange Income [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | 1,170 | 1,253 | 2,476 | 2,519 | |
Wealth Management Fees [Member] | |||||
Sources of non-interest income [Abstract] | |||||
Non-interest income | $ 1,596 | $ 1,425 | $ 3,411 | $ 3,283 | |
[1] | Not within the scope of ASC 606. |