Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
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 | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 96,101,978 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 36,662 | $ 35,652 | $ 72,706 | $ 71,257 |
Interest and dividends on securities available for sale: | ||||
U. S. government sponsored enterprises | 607 | 404 | 1,202 | 659 |
State and political subdivisions | 11 | 13 | 23 | 27 |
Mortgage-backed securities and collateralized mortgage obligations-residential | 1,944 | 2,169 | 3,902 | 4,285 |
Corporate bonds | 154 | 0 | 305 | 0 |
Small Business Administration-guaranteed participation securities | 394 | 450 | 809 | 926 |
Mortgage-backed securities and collateralized mortgage obligations-commercial | 21 | 38 | 44 | 74 |
Other securities | 4 | 4 | 8 | 8 |
Total interest and dividends on securities available for sale | 3,135 | 3,078 | 6,293 | 5,979 |
Interest on held to maturity securities: | ||||
Mortgage-backed securities and collateralized mortgage obligations-residential | 296 | 374 | 612 | 775 |
Corporate bonds | 154 | 154 | 308 | 308 |
Total interest on held to maturity securities | 450 | 528 | 920 | 1,083 |
Federal Reserve Bank and Federal Home Loan Bank stock | 134 | 118 | 268 | 238 |
Interest on federal funds sold and other short-term investments | 1,727 | 832 | 2,973 | 1,677 |
Total interest income | 42,108 | 40,208 | 83,160 | 80,234 |
Interest on deposits: | ||||
Interest-bearing checking | 134 | 116 | 258 | 230 |
Savings | 435 | 604 | 865 | 1,208 |
Money market deposit accounts | 468 | 467 | 934 | 962 |
Time deposits | 2,181 | 2,460 | 4,464 | 4,833 |
Interest on short-term borrowings | 349 | 262 | 698 | 519 |
Total interest expense | 3,567 | 3,909 | 7,219 | 7,752 |
Net interest income | 38,541 | 36,299 | 75,941 | 72,482 |
Provision for loan losses | 550 | 800 | 1,150 | 1,600 |
Net interest income after provision for loan losses | 37,991 | 35,499 | 74,791 | 70,882 |
Noninterest income: | ||||
Trustco financial services income | 1,425 | 1,512 | 3,283 | 3,117 |
Fees for services to customers | 2,797 | 2,737 | 5,434 | 5,398 |
Net gain on securities transactions | 0 | 668 | 0 | 668 |
Other | 282 | 282 | 514 | 588 |
Total noninterest income | 4,504 | 5,199 | 9,231 | 9,771 |
Noninterest expenses: | ||||
Salaries and employee benefits | 9,559 | 8,934 | 19,769 | 17,937 |
Net occupancy expense | 4,267 | 3,918 | 8,376 | 8,006 |
Equipment expense | 1,428 | 1,840 | 2,984 | 3,354 |
Professional services | 1,963 | 2,098 | 3,891 | 4,244 |
Outsourced services | 1,500 | 1,425 | 3,000 | 2,976 |
Advertising expense | 607 | 570 | 1,320 | 1,299 |
FDIC and other insurance | 1,012 | 1,949 | 2,059 | 3,939 |
Other real estate (income) expense, net | (4) | |||
Other real estate expense, net | 423 | 495 | 942 | |
Other | 2,581 | 2,817 | 5,038 | 4,715 |
Total noninterest expenses | 22,913 | 23,974 | 46,932 | 47,412 |
Income before taxes | 19,582 | 16,724 | 37,090 | 33,241 |
Income taxes | 7,342 | 6,260 | 13,903 | 12,366 |
Net income | $ 12,240 | $ 10,464 | $ 23,187 | $ 20,875 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.127 | $ 0.110 | $ 0.242 | $ 0.219 |
Diluted (in dollars per share) | $ 0.127 | $ 0.109 | $ 0.241 | $ 0.219 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ||||
Net income | $ 12,240 | $ 10,464 | $ 23,187 | $ 20,875 |
Net unrealized holding gain on securities available for sale | 3,343 | 4,565 | 4,522 | 12,600 |
Reclassification adjustments for net gain recognized in income | 0 | (668) | 0 | (668) |
Tax effect | (1,337) | (1,559) | (1,809) | (4,773) |
Net unrealized gain on securities available for sale, net of tax | 2,006 | 2,338 | 2,713 | 7,159 |
Amortization of net actuarial gain | (73) | (50) | (136) | (17) |
Amortization of prior service cost | 22 | 22 | 45 | 45 |
Tax effect | 20 | 12 | 36 | (11) |
Amortization of net actuarial gain and prior service cost on pension and postretirement plans, net of tax | (31) | (16) | (55) | 17 |
Other comprehensive income, net of tax | 1,975 | 2,322 | 2,658 | 7,176 |
Comprehensive income | $ 14,215 | $ 12,786 | $ 25,845 | $ 28,051 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS: | ||
Cash and due from banks | $ 43,783 | $ 48,719 |
Federal funds sold and other short term investments | 663,360 | 658,555 |
Total cash and cash equivalents | 707,143 | 707,274 |
Securities available for sale | 605,457 | 620,360 |
Held to maturity securities (fair value 2017 $42,803; 2016 $47,526) | 41,208 | 45,490 |
Federal Reserve Bank and Federal Home Loan Bank stock | 9,723 | 9,579 |
Loans, net of deferred net costs | 3,507,473 | 3,430,586 |
Less: Allowance for loan losses | 44,162 | 43,890 |
Net loans | 3,463,311 | 3,386,696 |
Bank premises and equipment, net | 35,174 | 35,466 |
Other assets | 58,466 | 63,941 |
Total assets | 4,920,482 | 4,868,806 |
Deposits: | ||
Demand | 390,120 | 377,755 |
Interest-bearing checking | 871,004 | 815,534 |
Savings accounts | 1,285,886 | 1,271,449 |
Money market deposit accounts | 572,580 | 571,962 |
Time deposits | 1,088,824 | 1,159,463 |
Total deposits | 4,208,414 | 4,196,163 |
Short-term borrowings | 233,621 | 209,406 |
Accrued expenses and other liabilities | 31,081 | 30,551 |
Total liabilities | 4,473,116 | 4,436,120 |
SHAREHOLDERS' EQUITY: | ||
Capital stock par value $1; 150,000,000 shares authorized; 99,510,682 and 99,214,382 shares issued at June 30, 2017 and December 31, 2016, respectively | 99,511 | 99,214 |
Surplus | 172,603 | 171,425 |
Undivided profits | 212,112 | 201,517 |
Accumulated other comprehensive loss, net of tax | (3,593) | (6,251) |
Treasury stock at cost - 3,495,799 and 3,434,205 shares at June 30, 2017 and December 31, 2016, respectively | (33,267) | (33,219) |
Total shareholders' equity | 447,366 | 432,686 |
Total liabilities and shareholders' equity | $ 4,920,482 | $ 4,868,806 |
Consolidated Statements of Fin5
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
ASSETS: | ||
Held to maturity securities, fair value | $ 42,803 | $ 47,526 |
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) | 99,510,682 | 99,214,382 |
Treasury stock, at cost (in shares) | 3,495,799 | 3,434,205 |
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, 2015 | $ 98,973 | $ 171,443 | $ 184,009 | $ (4,781) | $ (36,334) | $ 413,310 |
Net income | 0 | 0 | 20,875 | 0 | 0 | 20,875 |
Other comprehensive income, net of tax | 0 | 0 | 0 | 7,176 | 0 | 7,176 |
Cash dividend declared | 0 | 0 | (12,528) | 0 | 0 | (12,528) |
Stock options exercised | 98 | 404 | 0 | 0 | 0 | 502 |
Purchase of treasury stock | 0 | 0 | 0 | 0 | (489) | (489) |
Sale of treasury stock | 0 | (785) | 0 | 0 | 2,092 | 1,307 |
Stock based compensation expense | 0 | 112 | 0 | 0 | 0 | 112 |
Balance at Jun. 30, 2016 | 99,071 | 171,174 | 192,356 | 2,395 | (34,731) | 430,265 |
Balance at Mar. 31, 2016 | 73 | |||||
Net income | 10,464 | |||||
Other comprehensive income, net of tax | 2,322 | |||||
Balance at Jun. 30, 2016 | 99,071 | 171,174 | 192,356 | 2,395 | (34,731) | 430,265 |
Balance at Dec. 31, 2016 | 99,214 | 171,425 | 201,517 | (6,251) | (33,219) | 432,686 |
Net income | 0 | 0 | 23,187 | 0 | 0 | 23,187 |
Other comprehensive income, 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) | |||||
Net income | 12,240 | |||||
Other comprehensive income, net of tax | 1,975 | |||||
Balance at Jun. 30, 2017 | $ 99,511 | $ 172,603 | $ 212,112 | $ (3,593) | $ (33,267) | $ 447,366 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
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) | 296,300 | 97,600 |
Purchase of treasury stock (in shares) | 213,356 | 80,769 |
Sale of treasury stock (in shares) | 151,762 | 213,748 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 23,187 | $ 20,875 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,898 | 2,071 |
Net gain on sale of other real estate owned | (507) | (363) |
Writedown of other real estate owned | 362 | 606 |
Provision for loan losses | 1,150 | 1,600 |
Deferred tax expense | 693 | 1,211 |
Net amortization of securities | 2,244 | 2,453 |
Stock based compensation expense | 79 | 112 |
Net loss on sale of bank premises and equipment | 0 | (62) |
Net gain on sales of securities | 0 | (668) |
Decrease in taxes receivable | 4,087 | 1,996 |
Decrease in interest receivable | (213) | (442) |
(Decrease) increase in interest payable | (64) | 17 |
Increase in other assets | (1,639) | (1,530) |
Increase (decrease) in accrued expenses and other liabilities | 910 | (599) |
Total adjustments | 9,000 | 6,402 |
Net cash provided by operating activities | 32,187 | 27,277 |
Cash flows from investing activities: | ||
Proceeds from sales and calls of securities available for sale | 73,569 | 134,550 |
Proceeds from calls and maturities of held to maturity securities | 4,282 | 5,781 |
Purchases of securities available for sale | (56,388) | (144,422) |
Proceeds from maturities of securities available for sale | 0 | 550 |
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock | (144) | (99) |
Net increase in loans | (80,030) | (54,636) |
Proceeds from dispositions of other real estate owned | 3,093 | 4,058 |
Proceeds from dispositions of bank premises and equipment | 0 | 58 |
Purchases of bank premises and equipment | (1,606) | (1,217) |
Net cash (used in) provided by investing activities | (57,224) | (55,377) |
Cash flows from financing activities: | ||
Net increase in deposits | 12,251 | 80,249 |
Net increase (decrease) in short-term borrowings | 24,215 | (684) |
Proceeds from exercise of stock options | 1,595 | 502 |
Stock based award tax withholding payments | (333) | (32) |
Proceeds from sale of treasury stock | 1,256 | 1,307 |
Purchases of treasury stock | (1,503) | (489) |
Dividends paid | (12,575) | (12,513) |
Net cash provided by financing activities | 24,906 | 68,340 |
Net (decrease) increase in cash and cash equivalents | (131) | 40,240 |
Cash and cash equivalents at beginning of period | 707,274 | 718,156 |
Cash and cash equivalents at end of period | 707,143 | 758,396 |
Cash paid during the year for: | ||
Interest paid | 7,283 | 7,735 |
Income taxes paid | 9,808 | 10,485 |
Other non cash items: | ||
Transfer of loans to other real estate owned | 2,265 | 2,448 |
Increase in dividends payable | 17 | 15 |
Change in unrealized gain on securities available for sale-gross of deferred taxes | 4,522 | 11,932 |
Change in deferred tax effect on unrealized gain on securities available for sale | (1,809) | (4,773) |
Amortization of net actuarial (gain) loss and prior service cost on pension and postretirement plans | (91) | 28 |
Change in deferred tax effect of amortization of net actuarial (gain) loss and prior service cost on pension and postretirement plans | $ 36 | $ (11) |
Financial Statement Presentatio
Financial Statement Presentation | 6 Months Ended |
Jun. 30, 2017 | |
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, 2017 is not necessarily indicative of the results that may be expected for the year ending December 31, 2017, 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 for fair presentation . Effective January 1, 2017, the Company adopted FASB issued ASU No. 2016-09, “Improvement to Employee Share-Based Payment Accounting” which amended existing guidance to simplify aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2016. The adoption of these amendments did not have a material impact on the Consolidated Interim Financial Statements . |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2017 | |
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) For the three months ended June 30: For the six months ended June 30: 2017 2016 2017 2016 Net income $ 12,240 10,464 $ 23,187 20,875 Weighted average common shares 96,003 95,487 95,944 95,426 Stock Options 70 93 90 70 Weighted average common shares including potential dilutive shares 96,073 95,580 96,034 95,496 Basic EPS $ 0.127 0.110 $ 0.242 0.219 Diluted EPS $ 0.127 0.109 $ 0.241 0.219 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. For the three and six months ended June 30, 2016 the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.6 million. 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, 2017 | |
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, 2017 and 2016 for its pension and other postretirement benefit plans: For the three months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2017 2016 2017 2016 Service cost $ 11 16 23 32 Interest cost 322 349 54 61 Expected return on plan assets (686 ) (681 ) (190 ) (180 ) Amortization of net loss (gain) 10 5 (83 ) (55 ) Amortization of prior service cost - - 22 22 Net periodic benefit $ (343 ) (311 ) (174 ) (120 ) For the six months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2017 2016 2017 2016 Service cost $ 22 31 51 64 Interest cost 651 686 110 123 Expected return on plan assets (1,372 ) (1,325 ) (381 ) (360 ) Amortization of net loss (gain) 33 92 (169 ) (109 ) Amortization of prior service cost - - 45 45 Net periodic benefit $ (666 ) (516 ) (344 ) (237 ) The Company does not expect to make contributions to its pension and postretirement benefit plans in 2017. As of June 30, 2017, 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, 2017 | |
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: (dollars in thousands) June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 129,939 71 1,624 128,386 State and political subdivisions 523 13 - 536 Corporate bonds 40,613 - 115 40,498 Mortgage backed securities and collateralized mortgage obligations - residential 355,966 177 3,552 352,591 Small Business Administration- guaranteed participation securities 74,514 - 1,656 72,858 Mortgage backed securities and collateralized mortgage obligations - commercial 9,960 - 57 9,903 Other 650 - - 650 Total debt securities 612,165 261 7,004 605,422 Equity securities 35 - - 35 Total securities available for sale $ 612,200 261 7,004 605,457 (dollars in thousands) December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 119,887 - 2,621 117,266 State and political subdivisions 873 13 - 886 Mortgage backed securities and collateralized mortgage obligations - residential 378,068 123 5,883 372,308 Corporate bonds 40,956 - 251 40,705 Small Business Administration- guaranteed participation securities 81,026 - 2,527 78,499 Mortgage backed securities and collateralized mortgage obligations - commercial 10,130 - 119 10,011 Other 650 - - 650 Total debt securities 631,590 136 11,401 620,325 Equity securities 35 - - 35 Total securities available for sale $ 631,625 136 11,401 620,360 The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2017, 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 $ 50,482 50,397 Due in one year through five years 111,183 109,607 Due after five years through ten years 10,060 10,066 Due after ten years - - Mortgage backed securities and collateralized mortgage obligations - residential 355,966 352,591 Small Business Administration- guaranteed participation securities 74,514 72,858 Mortgage backed securities and collateralized mortgage obligations - commercial 9,960 9,903 $ 612,165 605,422 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: (dollars in thousands) June 30, 2017 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 $ 88,286 1,602 14,978 22 103,264 1,624 Mortgage backed securities and collateralized mortgage obligations - residential 320,377 3,361 11,024 191 331,401 3,552 Corporate bonds 40,498 115 - - 40,498 115 Small Business Administration- guaranteed participation securities 60,095 1,200 12,763 456 72,858 1,656 Mortgage backed securities and collateralized mortgage obligations - commercial 9,903 57 - - 9,903 57 Total $ 519,159 6,335 38,765 669 557,924 7,004 (dollars in thousands) December 31, 2016 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 $ 102,266 2,621 - - 102,266 2,621 Mortgage backed securities and collateralized mortgage obligations - residential 359,622 5,766 4,713 117 364,335 5,883 Corporate bonds 40,705 251 - - 40,705 251 Small Business Administration- guaranteed participation securities 64,560 1,960 13,940 567 78,500 2,527 Mortgage backed securities and collateralized mortgage obligations - commercial 10,011 119 - - 10,011 119 Total $ 577,164 10,717 18,653 684 595,817 11,401 The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2017 and 2016 are as follows: (dollars in thousands) Three months ended June 30, 2017 2016 Proceeds from sales $ - 44,829 Proceeds from calls 52,799 40,808 Gross realized gains - 668 Gross realized losses - - (dollars in thousands) Six months ended June 30, 2017 2016 Proceeds from sales $ - 44,829 Proceeds from calls 73,569 89,721 Gross realized gains - 668 Gross realized losses - - There were no sales of securities available for sale during the three and six months ended June 30, 2017. For the three and six months ended June 30, 2016, income tax expense recognized on net gains on sales of securities available for sale was approximately $267 thousand. (b) Held to maturity securities The amortized cost and fair value of the held to maturity securities are as follows: (dollars in thousands) June 30, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations - residential $ 31,211 1,520 - 32,731 Corporate bonds 9,997 75 - 10,072 Total held to maturity $ 41,208 1,595 - 42,803 (dollars in thousands) December 31, 2016 Amortized Gross Gross Fair Mortgage backed securities and collateralized mortgage obligations - residential $ 35,500 1,736 - 37,236 Corporate bonds 9,990 300 - 10,290 Total held to maturity $ 45,490 2,036 - 47,526 The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2017, 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 $ 9,997 10,072 Mortgage backed securities and collateralized mortgage obligations - residential 31,211 32,731 $ 41,208 42,803 There were no held to maturity securities in an unrecognized loss position as of June 30, 2017 or December 31, 2016. There were no sales or transfers of held to maturity securities during the three and six months ended June 30, 2017 and 2016 . (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, 2017, the Company’s security portfolios included certain securities which were in an unrealized loss position. 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, 2017 . |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Allowance for Loan Losses [Abstract] | |
Loans and Allowance for Loan Losses | (5) Loans and Allowance for Loan Losses The following table presents the recorded investment in loans by loan class: June 30, 2017 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 149,245 11,099 160,344 Other 22,342 349 22,691 Real estate mortgage - 1 to 4 family: First mortgages 2,208,078 714,360 2,922,438 Home equity loans 64,387 12,481 76,868 Home equity lines of credit 271,480 45,194 316,674 Installment 7,061 1,397 8,458 Total loans, net $ 2,722,593 784,880 3,507,473 Less: Allowance for loan losses 44,162 Net loans $ 3,463,311 December 31, 2016 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 151,366 12,243 163,609 Other 27,539 46 27,585 Real estate mortgage - 1 to 4 family: First mortgages 2,158,904 665,183 2,824,087 Home equity loans 60,892 10,754 71,646 Home equity lines of credit 286,586 48,255 334,841 Installment 7,048 1,770 8,818 Total loans, net $ 2,692,335 738,251 3,430,586 Less: Allowance for loan losses 43,890 Net loans $ 3,386,696 *Includes New York, New Jersey, Vermont and Massachusetts At June 30, 2017 and December 31, 2016, the Company had approximately $23.8 million and $24 . . . 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, 2017 (dollars in thousands) New York and other states Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,611 - 1,611 Other 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 17,178 1,870 19,048 Home equity loans 48 - 48 Home equity lines of credit 3,413 242 3,655 Installment 25 - 25 Total non-accrual loans 22,375 2,112 24,487 Restructured real estate mortgages - 1 to 4 family 41 - 41 Total nonperforming loans $ 22,416 2,112 24,528 December 31, 2016 (dollars in thousands) New York and other states Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,843 - 1,843 Other - - - Real estate mortgage - 1 to 4 family: First mortgages 17,727 1,659 19,386 Home equity loans 95 - 95 Home equity lines of credit 3,376 270 3,646 Installment 48 - 48 Total non-accrual loans 23,089 1,929 25,018 Restructured real estate mortgages - 1 to 4 family 42 - 42 Total nonperforming loans $ 23,131 1,929 25,060 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, 2017 and December 31, 2016, other estate owned included $2 . . . . The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2017 and December 31, 2016: New York and other states: June 30, 2017 (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 $ 133 - 1,523 1,656 147,589 149,245 Other - - 100 100 22,242 22,342 Real estate mortgage - 1 to 4 family: First mortgages 3,997 2,101 9,106 15,204 2,192,874 2,208,078 Home equity loans 107 40 18 165 64,222 64,387 Home equity lines of credit 554 600 2,076 3,230 268,250 271,480 Installment 45 13 22 80 6,981 7,061 Total $ 4,836 2,754 12,845 20,435 2,702,158 2,722,593 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 $ - - - - 11,099 11,099 Other - - - - 349 349 Real estate mortgage - 1 to 4 family: First mortgages 793 72 928 1,793 712,567 714,360 Home equity loans - 53 - 53 12,428 12,481 Home equity lines of credit 50 - - 50 45,144 45,194 Installment 7 5 - 12 1,385 1,397 Total $ 850 130 928 1,908 782,972 784,880 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 $ 133 - 1,523 1,656 158,688 160,344 Other - - 100 100 22,591 22,691 Real estate mortgage - 1 to 4 family: First mortgages 4,790 2,173 10,034 16,997 2,905,441 2,922,438 Home equity loans 107 93 18 218 76,650 76,868 Home equity lines of credit 604 600 2,076 3,280 313,394 316,674 Installment 52 18 22 92 8,366 8,458 Total $ 5,686 2,884 13,773 22,343 3,485,130 3,507,473 New York and other states: December 31, 2016 (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 $ 50 43 1,706 1,799 149,567 151,366 Other - - - - 27,539 27,539 Real estate mortgage - 1 to 4 family: First mortgages 6,379 2,924 9,643 18,946 2,139,958 2,158,904 Home equity loans 50 3 74 127 60,765 60,892 Home equity lines of credit 685 111 1,839 2,635 283,951 286,586 Installment 34 32 15 81 6,967 7,048 Total $ 7,198 3,113 13,277 23,588 2,668,747 2,692,335 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 $ - - - - 12,243 12,243 Other - - - - 46 46 Real estate mortgage - 1 to 4 family: First mortgages 1,942 69 1,255 3,266 661,917 665,183 Home equity loans 19 - - 19 10,735 10,754 Home equity lines of credit - - 156 156 48,099 48,255 Installment 30 6 - 36 1,734 1,770 Total $ 1,991 75 1,411 3,477 734,774 738,251 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 $ 50 43 1,706 1,799 161,810 163,609 Other - - - - 27,585 27,585 Real estate mortgage - 1 to 4 family: First mortgages 8,321 2,993 10,898 22,212 2,801,875 2,824,087 Home equity loans 69 3 74 146 71,500 71,646 Home equity lines of credit 685 111 1,995 2,791 332,050 334,841 Installment 64 38 15 117 8,701 8,818 Total $ 9,189 3,188 14,688 27,065 3,403,521 3,430,586 At June 30, 2017 and December 31, 2016, 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 - Activity in the allowance for loan losses by portfolio segment is summarized as follows: (dollars in thousands) For the three months ended June 30, 2017 Commercial Real Estate Mortgage- 1 to 4 Family 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 for loan losses (214 ) 676 88 550 Balance at end of period $ 4,596 38,871 695 44,162 (dollars in thousands) For the three months ended June 30, 2016 Commercial Real Estate Mortgage- 1 to 4 Family Installment Total Balance at beginning of period $ 4,919 39,017 462 44,398 Loans charged off: New York and other states* 68 1,090 92 1,250 Florida - 17 1 18 Total loan chargeoffs 68 1,107 93 1,268 Recoveries of loans previously charged off: New York and other states* 1 117 15 133 Florida - 1 - 1 Total recoveries 1 118 15 134 Net loans charged off 67 989 78 1,134 Provision (credit) for loan losses 194 561 45 800 Balance at end of period $ 5,046 38,589 429 44,064 (dollars in thousands) For the six months ended June 30, 2017 Commercial Real Estate Mortgage- 1 to 4 Family 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 for loan losses (269 ) 1,371 48 1,150 Balance at end of period $ 4,596 38,871 695 44,162 (dollars in thousands) For the six months ended June 30, 2016 Commercial Real Estate Mortgage- 1 to 4 Family Installment Total Balance at beginning of period $ 4,491 39,753 518 44,762 Loans charged off: New York and other states* 332 1,979 173 2,484 Florida - 101 17 118 Total loan chargeoffs 332 2,080 190 2,602 Recoveries of loans previously charged off: New York and other states* 41 235 26 302 Florida - 2 - 2 Total recoveries 41 237 26 304 Net loans charged off 291 1,843 164 2,298 Provision for loan losses 846 679 75 1,600 Balance at end of period $ 5,046 38,589 429 44,064 The Company has identified non - 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, 2017 and December 31, 2016: June 30, 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 4,596 38,871 695 44,162 Total ending allowance balance $ 4,596 38,871 695 44,162 Loans: Individually evaluated for impairment $ 4,008 21,782 - 25,790 Collectively evaluated for impairment 179,027 3,294,198 8,458 3,481,683 Total ending loans balance $ 183,035 3,315,980 8,458 3,507,473 December 31, 2016 (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 4,929 38,231 730 43,890 Total ending allowance balance $ 4,929 38,231 730 43,890 Loans: Individually evaluated for impairment $ 2,418 21,607 - 24,025 Collectively evaluated for impairment 188,776 3,208,967 8,818 3,406,561 Total ending loans balance $ 191,194 3,230,574 8,818 3,430,586 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016: New York and other states: June 30, 2017 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 3,908 4,955 - 2,883 Other 100 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 16,350 17,019 - 16,939 Home equity loans 265 301 - 270 Home equity lines of credit 2,042 2,226 - 2,060 Total $ 22,665 24,601 - 22,251 Florida: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,446 2,538 - 2,177 Home equity loans 92 92 - 93 Home equity lines of credit 587 659 - 579 Total $ 3,125 3,289 - 2,849 Total: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 3,908 4,955 - 2,883 Other 100 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 18,796 19,557 - 19,116 Home equity loans 357 393 - 363 Home equity lines of credit 2,629 2,885 - 2,639 Total $ 25,790 27,890 - 25,100 New York and other states: December 31, 2016 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 2,418 3,470 - 2,214 Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 16,675 17,439 - 15,665 Home equity loans 269 305 - 251 Home equity lines of credit 1,999 2,160 - 1,806 Total $ 21,361 23,374 - 19,936 Florida: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,009 2,100 - 1,800 Home equity loans 94 94 - 81 Home equity lines of credit 561 633 - 591 Total $ 2,664 2,827 - 2,472 Total: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 2,418 3,470 - 2,214 Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 18,684 19,539 - 17,465 Home equity loans 363 399 - 332 Home equity lines of credit 2,560 2,793 - 2,397 Total $ 24,025 26,201 - 22,408 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, 2017 and 2016 . As of June 30, 2017 and December 31, 2016 impaired loans included approximately $14 .0 . . 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, 2017 and December 31, 2016, 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 6/30/2017 Three months ended 6/30/2016 New York and other states*: (dollars in thousands) 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 Commercial: Commercial real estate 3 $ 747 747 - $ - - Real estate mortgage - 1 to 4 family: First mortgages 7 $ 1,098 $ 1,098 10 $ 753 $ 753 Home equity loans - - - - - - Home equity lines of credit 1 3 3 5 66 66 Total 11 $ 1,848 $ 1,848 15 $ 819 $ 819 Florida: (dollars in thousands) 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 Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages 4 $ 387 $ 387 1 $ 298 $ 298 Home equity loans - - - 1 46 46 Home equity lines of credit - - - 1 6 6 Total 4 $ 387 $ 387 3 $ 350 $ 350 Six months ended 6/30/2017 Six months ended 6/30/2016 New York and other states*: (dollars in thousands) 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 Commercial: Commercial real estate 3 $ 747 $ 747 - $ - $ - Real estate mortgage - 1 to 4 family: First mortgages 18 $ 3,045 3,045 22 $ 1,807 1,807 Home equity loans 1 13 13 - - - Home equity lines of credit 5 161 161 9 157 157 Total 27 $ 3,966 $ 3,966 31 $ 1,964 $ 1,964 Florida: (dollars in thousands) 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 Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages 5 $ 467 $ 467 3 $ 525 $ 525 Home equity loans - - - 1 46 46 Home equity lines of credit 1 70 70 1 6 6 Total 6 $ 537 $ 537 5 $ 577 $ 577 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, 2017 and 2016 which had been modified within the last twelve months: Three months ended 6/30/2017 Three months ended 6/30/2016 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 - $ - 1 $ 107 Home equity lines of credit 1 3 - - Total 1 $ 3 1 $ 107 Florida: (dollars in thousands) 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 6/30/2017 Six months ended 6/30/2016 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 - $ - 3 $ 268 Home equity loans - - 1 48 Home equity lines of credit 1 3 - - Total 1 $ 3 4 $ 316 Florida: (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages 1 $ 77 - $ - Home equity lines of credit 1 $ 70 1 $ 46 Total 2 $ 147 1 $ 46 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, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2017 New York and other states: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 139,103 10,142 149,245 Other 20,623 1,719 22,342 $ 159,726 11,861 171,587 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 11,099 - 11,099 Other 349 - 349 $ 11,448 - 11,448 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 150,202 10,142 160,344 Other 20,972 1,719 22,691 $ 171,174 11,861 183,035 December 31, 2016 New York and other states: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 136,676 14,690 151,366 Other 25,442 2,097 27,539 $ 162,118 16,787 178,905 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 12,243 - 12,243 Other 46 - 46 $ 12,289 - 12,289 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 148,919 14,690 163,609 Other 25,488 2,097 27,585 $ 174,407 16,787 191,194 Included in classified loans in the above tables are non-accrual loans of $1 . . 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, 2017 and December 31, 2016 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, 2017 and December 31, 2016 is presented in the non-accrual loans table. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments | (6) Fair Value of Financial Instruments FASB Topic 820, Fair Value Measurement 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 June 30, 2017 Using: Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (dollars in thousands) Securities available for sale: U.S. government sponsored enterprises $ 128,386 $ - $ 128,386 $ - State and political subdivisions 536 - 536 - Corporate bonds 40,498 - 40,498 - Mortgage backed securities and collateralized mortgage obligations - residential 352,591 - 352,591 - Small Business Administration- guaranteed participation securities 72,858 - 72,858 - Mortgage backed securities and collateralized mortgage obligations - commercial 9,903 - 9,903 - Other securities 685 35 650 - Total securities available for sale $ 605,457 $ 35 $ 605,422 $ - 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) (dollars in thousands) Securities available for sale: U.S. government sponsored enterprises $ 117,266 $ - $ 117,266 $ - State and political subdivisions 886 - 886 - Mortgage backed securities and collateralized mortgage obligations - residential 372,308 - 372,308 - Corporate bonds 40,705 - 40,705 - Small Business Administration- guaranteed participation securities 78,499 - 78,499 - Mortgage backed securities and collateralized mortgage obligations - commercial 10,011 - 10,011 - Other securities 685 35 650 - Total securities available for sale $ 620,360 $ 35 $ 620,325 $ - There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2017 and 2016 . Assets measured at fair value on a non-recurring basis are summarized below: 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) Valuation technique Unobservable inputs Range (Weighted Average) (dollars in thousands) Other real estate owned $ 3,585 $ - $ - $ 3,585 Sales comparison approach Adjustments for differences between comparable sales 2% - 10% (4%) Impaired loans: Real estate mortgage - 1 to 4 family 466 - - 466 Sales comparison approach Adjustments for differences between comparable sales 2% - 5% (4%) 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) Valuation technique Unobservable inputs Range (Weighted Average) (dollars in thousands) Other real estate owned $ 4,268 $ - $ - $ 4,268 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Commercial real estate 1,250 - - 1,250 Sales comparison approach Adjustments for differences between comparable sales 7% - 35% (23%) Real estate mortgage - 1 to 4 family 458 - - 458 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 $3 . . Of the total impaired loans of $25 . . Other real estate owned, that is carried at fair value less costs to sell, was approximately $4.3 million at December 31, 2016 and consisted of $756 thousand of commercial real estate and $3 . . Of the total impaired loans of $24 .0 . In accordance with FASB Topic 825, Financial Instruments (dollars in thousands) Fair Value Measurements at Carrying June 30, 2017 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 707,143 707,143 - - 707,143 Securities available for sale 605,457 35 605,422 - 605,457 Held to maturity securities 41,208 - 42,803 - 42,803 Federal Reserve Bank and Federal Home Loan Bank stock 9,723 N/A N/A N/A N/A Net loans 3,463,311 - - 3,471,697 3,471,697 Accrued interest receivable 11,283 238 2,811 8,234 11,283 Financial liabilities: Demand deposits 390,120 390,120 - - 390,120 Interest bearing deposits 3,818,294 2,729,470 1,082,006 - 3,811,476 Short-term borrowings 233,621 - 233,621 - 233,621 Accrued interest payable 462 76 385 - 462 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2016 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 707,274 707,274 - - 707,274 Securities available for sale 620,360 35 620,325 - 620,360 Held to maturity securities 45,490 - 47,526 - 47,526 Federal Reserve Bank and Federal Home Loan Bank stock 9,579 N/A N/A N/A N/A Net loans 3,386,696 - - 3,370,976 3,370,976 Accrued interest receivable 11,070 145 2,654 8,271 11,070 Financial liabilities: Demand deposits 377,755 377,755 - - 377,755 Interest bearing deposits 3,818,408 2,658,945 1,156,025 - 3,814,970 Short-term borrowings 209,406 - 209,406 - 209,406 Accrued interest payable 526 82 444 - 526 The specific estimation methods and assumptions used can have a substantial impact on the resulting fair values of financial instruments. The following is a brief summary of the significant methods and assumptions used in estimating fair values: Cash and Cash Equivalents The carrying values of these financial instruments approximate fair values and are classified as Level 1. Federal Reserve Bank and Federal Home Loan Bank stock It is not practical to determine the fair value of Federal Reserve Bank and Federal Home Loan Bank stock due to their restrictive nature. Securities Held to Maturity Similar to securities available for sale described previously, the fair value of securities held to maturity are determined utilizing an independent pricing service for identical assets or significantly similar securities. The pricing service uses a variety of techniques to arrive at fair value including market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows. This results in a Level 2 classification of the inputs for determining fair value. Interest and dividend income is recorded on the accrual method and included in the Consolidated Statements of Income in the respective investment class under total interest and dividend income. The Company does not have any securities that would be designated as Level 3. Loans The fair values of all loans are estimated using discounted cash flow analyses with discount rates equal to the interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. Deposit Liabilities The fair values disclosed for noninterest bearing demand deposits, interest bearing checking accounts, savings accounts, and money market accounts are, by definition, equal to the amount payable on demand at the balance sheet date resulting in a Level 1 classification. The carrying value of all variable rate certificates of deposit approximates fair value resulting in a Level 2 classification. The fair value of fixed rate certificates of deposit is estimated using discounted cash flow analyses with discount rates equal to the interest rates currently being offered on certificates of similar size and remaining maturity resulting in a Level 2 classification. Accrued Interest Receivable/Payable The carrying amounts of accrued interest approximate fair value resulting in a Level 1, Level 2 or Level 3 classification consistent with the asset or liability that they are associated with. Short-Term Borrowings and Other Financial Instruments The fair value of all short-term borrowings, and other financial instruments approximates the carrying value resulting in a Level 2 classification. Financial Instruments with Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk. Such financial instruments consist of commitments to extend financing and standby letters of credit. If the commitments are exercised by the prospective borrowers, these financial instruments will become interest earning assets of the Company. If the commitments expire, the Company retains any fees paid by the prospective borrower. The fair value of commitments is estimated based upon fees currently charged to enter into similar agreements, taking into consideration the remaining terms of the agreements and the present creditworthiness of the borrower. For fixed rate commitments, the fair value estimation takes into consideration an interest rate risk factor. The fair value of these off-balance sheet items approximates the recorded amounts of the related fees, which are considered to be immaterial. The Company does not engage in activities involving interest rate swaps, forward placement contracts, or any other instruments commonly referred to as derivatives. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2017 | |
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 income (loss) balances, net of tax: Three months ended 6/30/17 (dollars in thousands) Balance at 4/1/2017 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Three months ended 6/30/2017 Balance at 6/30/2017 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 ) Three months ended 6/30/2016 (dollars in thousands) Balance at 4/1/2016 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Three months ended 6/30/2016 Balance at 6/30/2016 Net unrealized holding gain (loss) on securities available for sale, net of tax $ 329 2,739 (401 ) 2,338 2,667 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (256 ) - (16 ) (16 ) (272 ) Accumulated other comprehensive income (loss), net of tax 73 2,739 (417 ) 2,322 2,395 Six months ended 6/30/17 (dollars in thousands) Balance at 1/1/2017 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Loss Other Comprehensive Income (loss)- Six months ended 6/30/2017 Balance at 6/30/2017 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 ) Six months ended 6/30/16 (dollars in thousands) Balance at 1/1/2016 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Six months ended 6/30/2016 Balance at 6/30/2016 Net unrealized holding gain (loss) on securities available for sale, net of tax $ (4,492 ) 7,560 (401 ) 7,159 2,667 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (289 ) - 17 17 (272 ) Accumulated other comprehensive income (loss), net of tax (4,781 ) 7,560 (384 ) 7,176 2,395 The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2017 and 2016: (dollars in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Affected Line Item in Statements Net unrealized holding gain on securities available for sale Realized gain on securities transactions $ - 668 $ - 668 Net gain on securities transactions Income tax effect - (267 ) - (267 ) Income taxes Net of tax - 401 - 401 Amortization of pension and postretirement benefit items Amortization of net actuarial gain 73 50 136 17 Salaries and employee benefits Amortization of prior service cost (22 ) (22 ) (45 ) (45 ) Salaries and employee benefits Income tax effect (20 ) (12 ) (36 ) 11 Income taxes Net of tax 31 16 55 (17 ) Total reclassifications, net of tax $ 31 417 $ 55 384 |
Agreement with the Office of th
Agreement with the Office of the Comptroller of the Currency | 6 Months Ended |
Jun. 30, 2017 | |
Agreement with the Office of the Comptroller of the Currency [Abstract] | |
Agreement with the Office of the Comptroller of the Currency | (8) Agreement with the Office of the Comptroller of the Currency On July 21, 2015 Trustco Bank (the “Bank”), the wholly owned subsidiary of the Company, entered into a formal agreement (the “Agreement”) with the Comptroller of the Currency of the United States (the “OCC”). The Agreement relates to the findings of the OCC following an examination of the Bank. Since the completion of the examination and entry into the Agreement, the Bank believes it has been working diligently to address the findings of the examination and to develop and implement appropriate formal action plans. The Agreement requires the Bank to take various actions, within prescribed time frames, with respect to certain areas of the Bank. These include, among others, (i) establishment of a committee of at least three Directors to monitor and coordinate the Bank’s response to the Agreement; (ii) adoption of compliance plans to respond to the Agreement with the assistance of an independent qualified consultant; (iii) evaluation and implementation of improvements in corporate governance with the assistance of an independent qualified consultant; (iv) evaluation and implementation of improvements in internal audit; (v) development of a strategic plan; (vi) development of a revised capital plan consistent with the strategic plan; (vii) development and implementation of improvements to the Bank’s loan review system; and (viii) such other necessary steps to address the issues and questions noted by the OCC in the Agreement. |
New Accounting Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2017 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | (9) New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 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. In July 2015, FASB deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. In addition, the FASB has begun to issue targeted updates to clarify specific implementation issues of ASU 2014-09. These updates include ASU No. 2016-08 - Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU No. 2016-10 - Identifying Performance Obligations and Licensing and ASU No. 2016-12 - Narrow-Scope Improvements and Practical Expedients. The ASU is not expected to significantly impact the Company’s financial position or the results of operations. 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. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2017. The ASU is not expected to significantly impact the Company’s consolidated financial statements. 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. It is expected that assets and liabilities will increase based on the present value of remaining lease payments for leases in place at the adoption date which will impact the financial position and capital ratios of the Company. As of December 31, 2016, the Company has approximately $69.7 million in minimum lease payments for existing operating leases of branch locations with varying expiration dates from 2017 and after. The Company does not expect the ASU to have a material impact on the Company’s results of operations. In June 2016, the FASB released ASU No. 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. The Company has established a roadmap for implementation and is currently evaluating vendor solutions that will assist in implementing required changes to loan loss estimation model. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles-Goodwill and Other (Topic 350)” which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Board also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. An entity is required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. A public business entity that is a U.S. Securities and Exchange Commission (SEC) filer should adopt the amendments in this ASU for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The ASU is not expected to significantly impact the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017 -0 . In March 2017, the FASB issued ASU No. 2017 -0 -0 In May 2017, the FASB issued ASU No. 2017-09, “Compensation - Stock Compensation – Scope of Modification Accounting (Topic 718)”. The amendments in this ASU clarifies the application of the guidance in Topic 718, Compensation – Stock Compensation, by providing guidance about which changes in terms or conditions of a share-based payment award require and entity to apply modification accounting. An entity should account for the effects of a modification unless all the following are met: 1) The fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the modified award is the same as the fair value (or calculated value or intrinsic value, if such an alternative measurement method is used) of the original award immediately before the original award is modified. If the modification does not affect any of the inputs to the valuation technique that the entity uses to value the award, the entity is not required to estimate the value immediately before and after the modification; 2) The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; 3) The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The current disclosure requirements in Topic 718 apply regardless of whether an entity is required to apply modification accounting under the amendments in this ASU. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The ASU is not expected to significantly impact the Company’s consolidated financial statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of component parts of earnings per share | A reconciliation of the component parts of earnings per share for the three and six months ended June 30, 2017 and 2016 is as follows: (in thousands, except per share data) For the three months ended June 30: For the six months ended June 30: 2017 2016 2017 2016 Net income $ 12,240 10,464 $ 23,187 20,875 Weighted average common shares 96,003 95,487 95,944 95,426 Stock Options 70 93 90 70 Weighted average common shares including potential dilutive shares 96,073 95,580 96,034 95,496 Basic EPS $ 0.127 0.110 $ 0.242 0.219 Diluted EPS $ 0.127 0.109 $ 0.241 0.219 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Benefit Plans [Abstract] | |
Components of Company's net periodic cost | The table below outlines the components of the Company's net periodic benefit recognized during the three and six months ended June 30, 2017 and 2016 for its pension and other postretirement benefit plans: For the three months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2017 2016 2017 2016 Service cost $ 11 16 23 32 Interest cost 322 349 54 61 Expected return on plan assets (686 ) (681 ) (190 ) (180 ) Amortization of net loss (gain) 10 5 (83 ) (55 ) Amortization of prior service cost - - 22 22 Net periodic benefit $ (343 ) (311 ) (174 ) (120 ) For the six months ended June 30, Pension Benefits Other Postretirement Benefits (dollars in thousands) 2017 2016 2017 2016 Service cost $ 22 31 51 64 Interest cost 651 686 110 123 Expected return on plan assets (1,372 ) (1,325 ) (381 ) (360 ) Amortization of net loss (gain) 33 92 (169 ) (109 ) Amortization of prior service cost - - 45 45 Net periodic benefit $ (666 ) (516 ) (344 ) (237 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Investment Securities [Abstract] | |
Amortized cost and fair value of the securities available for sale | The amortized cost and fair value of the securities available for sale are as follows: (dollars in thousands) June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 129,939 71 1,624 128,386 State and political subdivisions 523 13 - 536 Corporate bonds 40,613 - 115 40,498 Mortgage backed securities and collateralized mortgage obligations - residential 355,966 177 3,552 352,591 Small Business Administration- guaranteed participation securities 74,514 - 1,656 72,858 Mortgage backed securities and collateralized mortgage obligations - commercial 9,960 - 57 9,903 Other 650 - - 650 Total debt securities 612,165 261 7,004 605,422 Equity securities 35 - - 35 Total securities available for sale $ 612,200 261 7,004 605,457 (dollars in thousands) December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. government sponsored enterprises $ 119,887 - 2,621 117,266 State and political subdivisions 873 13 - 886 Mortgage backed securities and collateralized mortgage obligations - residential 378,068 123 5,883 372,308 Corporate bonds 40,956 - 251 40,705 Small Business Administration- guaranteed participation securities 81,026 - 2,527 78,499 Mortgage backed securities and collateralized mortgage obligations - commercial 10,130 - 119 10,011 Other 650 - - 650 Total debt securities 631,590 136 11,401 620,325 Equity securities 35 - - 35 Total securities available for sale $ 631,625 136 11,401 620,360 |
Investment [Line Items] | |
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses | The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2017 and 2016 are as follows: (dollars in thousands) Three months ended June 30, 2017 2016 Proceeds from sales $ - 44,829 Proceeds from calls 52,799 40,808 Gross realized gains - 668 Gross realized losses - - (dollars in thousands) Six months ended June 30, 2017 2016 Proceeds from sales $ - 44,829 Proceeds from calls 73,569 89,721 Gross realized gains - 668 Gross realized losses - - |
Amortized cost and fair value of the held to maturity securities | The amortized cost and fair value of the held to maturity securities are as follows: (dollars in thousands) June 30, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value Mortgage backed securities and collateralized mortgage obligations - residential $ 31,211 1,520 - 32,731 Corporate bonds 9,997 75 - 10,072 Total held to maturity $ 41,208 1,595 - 42,803 (dollars in thousands) December 31, 2016 Amortized Gross Gross Fair Mortgage backed securities and collateralized mortgage obligations - residential $ 35,500 1,736 - 37,236 Corporate bonds 9,990 300 - 10,290 Total held to maturity $ 45,490 2,036 - 47,526 |
Securities Available for Sale [Member] | |
Investment [Line Items] | |
Debt securities based on the securities contractual maturity | The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2017, 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 $ 50,482 50,397 Due in one year through five years 111,183 109,607 Due after five years through ten years 10,060 10,066 Due after ten years - - Mortgage backed securities and collateralized mortgage obligations - residential 355,966 352,591 Small Business Administration- guaranteed participation securities 74,514 72,858 Mortgage backed securities and collateralized mortgage obligations - commercial 9,960 9,903 $ 612,165 605,422 |
Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position | Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows: (dollars in thousands) June 30, 2017 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 $ 88,286 1,602 14,978 22 103,264 1,624 Mortgage backed securities and collateralized mortgage obligations - residential 320,377 3,361 11,024 191 331,401 3,552 Corporate bonds 40,498 115 - - 40,498 115 Small Business Administration- guaranteed participation securities 60,095 1,200 12,763 456 72,858 1,656 Mortgage backed securities and collateralized mortgage obligations - commercial 9,903 57 - - 9,903 57 Total $ 519,159 6,335 38,765 669 557,924 7,004 (dollars in thousands) December 31, 2016 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 $ 102,266 2,621 - - 102,266 2,621 Mortgage backed securities and collateralized mortgage obligations - residential 359,622 5,766 4,713 117 364,335 5,883 Corporate bonds 40,705 251 - - 40,705 251 Small Business Administration- guaranteed participation securities 64,560 1,960 13,940 567 78,500 2,527 Mortgage backed securities and collateralized mortgage obligations - commercial 10,011 119 - - 10,011 119 Total $ 577,164 10,717 18,653 684 595,817 11,401 |
Held to Maturity Securities [Member] | |
Investment [Line Items] | |
Debt securities based on the securities contractual maturity | The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2017, 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 $ 9,997 10,072 Mortgage backed securities and collateralized mortgage obligations - residential 31,211 32,731 $ 41,208 42,803 |
Loans and Allowance for Loan 21
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
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, 2017 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 149,245 11,099 160,344 Other 22,342 349 22,691 Real estate mortgage - 1 to 4 family: First mortgages 2,208,078 714,360 2,922,438 Home equity loans 64,387 12,481 76,868 Home equity lines of credit 271,480 45,194 316,674 Installment 7,061 1,397 8,458 Total loans, net $ 2,722,593 784,880 3,507,473 Less: Allowance for loan losses 44,162 Net loans $ 3,463,311 December 31, 2016 (dollars in thousands) New York and other states* Florida Total Commercial: Commercial real estate $ 151,366 12,243 163,609 Other 27,539 46 27,585 Real estate mortgage - 1 to 4 family: First mortgages 2,158,904 665,183 2,824,087 Home equity loans 60,892 10,754 71,646 Home equity lines of credit 286,586 48,255 334,841 Installment 7,048 1,770 8,818 Total loans, net $ 2,692,335 738,251 3,430,586 Less: Allowance for loan losses 43,890 Net loans $ 3,386,696 *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, 2017 (dollars in thousands) New York and other states Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,611 - 1,611 Other 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 17,178 1,870 19,048 Home equity loans 48 - 48 Home equity lines of credit 3,413 242 3,655 Installment 25 - 25 Total non-accrual loans 22,375 2,112 24,487 Restructured real estate mortgages - 1 to 4 family 41 - 41 Total nonperforming loans $ 22,416 2,112 24,528 December 31, 2016 (dollars in thousands) New York and other states Florida Total Loans in non-accrual status: Commercial: Commercial real estate $ 1,843 - 1,843 Other - - - Real estate mortgage - 1 to 4 family: First mortgages 17,727 1,659 19,386 Home equity loans 95 - 95 Home equity lines of credit 3,376 270 3,646 Installment 48 - 48 Total non-accrual loans 23,089 1,929 25,018 Restructured real estate mortgages - 1 to 4 family 42 - 42 Total nonperforming loans $ 23,131 1,929 25,060 |
Aging of the recorded investment in past due loans by loan class and by region | The following tables present the aging of the recorded investment in past due loans by loan class and by region as of June 30, 2017 and December 31, 2016: New York and other states: June 30, 2017 (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 $ 133 - 1,523 1,656 147,589 149,245 Other - - 100 100 22,242 22,342 Real estate mortgage - 1 to 4 family: First mortgages 3,997 2,101 9,106 15,204 2,192,874 2,208,078 Home equity loans 107 40 18 165 64,222 64,387 Home equity lines of credit 554 600 2,076 3,230 268,250 271,480 Installment 45 13 22 80 6,981 7,061 Total $ 4,836 2,754 12,845 20,435 2,702,158 2,722,593 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 $ - - - - 11,099 11,099 Other - - - - 349 349 Real estate mortgage - 1 to 4 family: First mortgages 793 72 928 1,793 712,567 714,360 Home equity loans - 53 - 53 12,428 12,481 Home equity lines of credit 50 - - 50 45,144 45,194 Installment 7 5 - 12 1,385 1,397 Total $ 850 130 928 1,908 782,972 784,880 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 $ 133 - 1,523 1,656 158,688 160,344 Other - - 100 100 22,591 22,691 Real estate mortgage - 1 to 4 family: First mortgages 4,790 2,173 10,034 16,997 2,905,441 2,922,438 Home equity loans 107 93 18 218 76,650 76,868 Home equity lines of credit 604 600 2,076 3,280 313,394 316,674 Installment 52 18 22 92 8,366 8,458 Total $ 5,686 2,884 13,773 22,343 3,485,130 3,507,473 New York and other states: December 31, 2016 (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 $ 50 43 1,706 1,799 149,567 151,366 Other - - - - 27,539 27,539 Real estate mortgage - 1 to 4 family: First mortgages 6,379 2,924 9,643 18,946 2,139,958 2,158,904 Home equity loans 50 3 74 127 60,765 60,892 Home equity lines of credit 685 111 1,839 2,635 283,951 286,586 Installment 34 32 15 81 6,967 7,048 Total $ 7,198 3,113 13,277 23,588 2,668,747 2,692,335 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 $ - - - - 12,243 12,243 Other - - - - 46 46 Real estate mortgage - 1 to 4 family: First mortgages 1,942 69 1,255 3,266 661,917 665,183 Home equity loans 19 - - 19 10,735 10,754 Home equity lines of credit - - 156 156 48,099 48,255 Installment 30 6 - 36 1,734 1,770 Total $ 1,991 75 1,411 3,477 734,774 738,251 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 $ 50 43 1,706 1,799 161,810 163,609 Other - - - - 27,585 27,585 Real estate mortgage - 1 to 4 family: First mortgages 8,321 2,993 10,898 22,212 2,801,875 2,824,087 Home equity loans 69 3 74 146 71,500 71,646 Home equity lines of credit 685 111 1,995 2,791 332,050 334,841 Installment 64 38 15 117 8,701 8,818 Total $ 9,189 3,188 14,688 27,065 3,403,521 3,430,586 |
Activity in the allowance for loan losses by portfolio segment | Activity in the allowance for loan losses by portfolio segment is summarized as follows: (dollars in thousands) For the three months ended June 30, 2017 Commercial Real Estate Mortgage- 1 to 4 Family 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 for loan losses (214 ) 676 88 550 Balance at end of period $ 4,596 38,871 695 44,162 (dollars in thousands) For the three months ended June 30, 2016 Commercial Real Estate Mortgage- 1 to 4 Family Installment Total Balance at beginning of period $ 4,919 39,017 462 44,398 Loans charged off: New York and other states* 68 1,090 92 1,250 Florida - 17 1 18 Total loan chargeoffs 68 1,107 93 1,268 Recoveries of loans previously charged off: New York and other states* 1 117 15 133 Florida - 1 - 1 Total recoveries 1 118 15 134 Net loans charged off 67 989 78 1,134 Provision (credit) for loan losses 194 561 45 800 Balance at end of period $ 5,046 38,589 429 44,064 (dollars in thousands) For the six months ended June 30, 2017 Commercial Real Estate Mortgage- 1 to 4 Family 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 for loan losses (269 ) 1,371 48 1,150 Balance at end of period $ 4,596 38,871 695 44,162 (dollars in thousands) For the six months ended June 30, 2016 Commercial Real Estate Mortgage- 1 to 4 Family Installment Total Balance at beginning of period $ 4,491 39,753 518 44,762 Loans charged off: New York and other states* 332 1,979 173 2,484 Florida - 101 17 118 Total loan chargeoffs 332 2,080 190 2,602 Recoveries of loans previously charged off: New York and other states* 41 235 26 302 Florida - 2 - 2 Total recoveries 41 237 26 304 Net loans charged off 291 1,843 164 2,298 Provision for loan losses 846 679 75 1,600 Balance at end of period $ 5,046 38,589 429 44,064 |
Allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2017 and December 31, 2016: June 30, 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 4,596 38,871 695 44,162 Total ending allowance balance $ 4,596 38,871 695 44,162 Loans: Individually evaluated for impairment $ 4,008 21,782 - 25,790 Collectively evaluated for impairment 179,027 3,294,198 8,458 3,481,683 Total ending loans balance $ 183,035 3,315,980 8,458 3,507,473 December 31, 2016 (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 4,929 38,231 730 43,890 Total ending allowance balance $ 4,929 38,231 730 43,890 Loans: Individually evaluated for impairment $ 2,418 21,607 - 24,025 Collectively evaluated for impairment 188,776 3,208,967 8,818 3,406,561 Total ending loans balance $ 191,194 3,230,574 8,818 3,430,586 |
Impaired loans by loan class | The following tables present impaired loans by loan class as of June 30, 2017 and December 31, 2016: New York and other states: June 30, 2017 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 3,908 4,955 - 2,883 Other 100 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 16,350 17,019 - 16,939 Home equity loans 265 301 - 270 Home equity lines of credit 2,042 2,226 - 2,060 Total $ 22,665 24,601 - 22,251 Florida: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,446 2,538 - 2,177 Home equity loans 92 92 - 93 Home equity lines of credit 587 659 - 579 Total $ 3,125 3,289 - 2,849 Total: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 3,908 4,955 - 2,883 Other 100 100 - 100 Real estate mortgage - 1 to 4 family: First mortgages 18,796 19,557 - 19,116 Home equity loans 357 393 - 363 Home equity lines of credit 2,629 2,885 - 2,639 Total $ 25,790 27,890 - 25,100 New York and other states: December 31, 2016 (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 2,418 3,470 - 2,214 Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 16,675 17,439 - 15,665 Home equity loans 269 305 - 251 Home equity lines of credit 1,999 2,160 - 1,806 Total $ 21,361 23,374 - 19,936 Florida: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ - - - - Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 2,009 2,100 - 1,800 Home equity loans 94 94 - 81 Home equity lines of credit 561 633 - 591 Total $ 2,664 2,827 - 2,472 Total: (dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Commercial: Commercial real estate $ 2,418 3,470 - 2,214 Other - - - - Real estate mortgage - 1 to 4 family: First mortgages 18,684 19,539 - 17,465 Home equity loans 363 399 - 332 Home equity lines of credit 2,560 2,793 - 2,397 Total $ 24,025 26,201 - 22,408 |
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 6/30/2017 Three months ended 6/30/2016 New York and other states*: (dollars in thousands) 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 Commercial: Commercial real estate 3 $ 747 747 - $ - - Real estate mortgage - 1 to 4 family: First mortgages 7 $ 1,098 $ 1,098 10 $ 753 $ 753 Home equity loans - - - - - - Home equity lines of credit 1 3 3 5 66 66 Total 11 $ 1,848 $ 1,848 15 $ 819 $ 819 Florida: (dollars in thousands) 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 Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages 4 $ 387 $ 387 1 $ 298 $ 298 Home equity loans - - - 1 46 46 Home equity lines of credit - - - 1 6 6 Total 4 $ 387 $ 387 3 $ 350 $ 350 Six months ended 6/30/2017 Six months ended 6/30/2016 New York and other states*: (dollars in thousands) 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 Commercial: Commercial real estate 3 $ 747 $ 747 - $ - $ - Real estate mortgage - 1 to 4 family: First mortgages 18 $ 3,045 3,045 22 $ 1,807 1,807 Home equity loans 1 13 13 - - - Home equity lines of credit 5 161 161 9 157 157 Total 27 $ 3,966 $ 3,966 31 $ 1,964 $ 1,964 Florida: (dollars in thousands) 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 Commercial: Commercial real estate - $ - - - $ - - Real estate mortgage - 1 to 4 family: First mortgages 5 $ 467 $ 467 3 $ 525 $ 525 Home equity loans - - - 1 46 46 Home equity lines of credit 1 70 70 1 6 6 Total 6 $ 537 $ 537 5 $ 577 $ 577 |
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, 2017 and 2016 which had been modified within the last twelve months: Three months ended 6/30/2017 Three months ended 6/30/2016 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 - $ - 1 $ 107 Home equity lines of credit 1 3 - - Total 1 $ 3 1 $ 107 Florida: (dollars in thousands) 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 6/30/2017 Six months ended 6/30/2016 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 - $ - 3 $ 268 Home equity loans - - 1 48 Home equity lines of credit 1 3 - - Total 1 $ 3 4 $ 316 Florida: (dollars in thousands) Number of Contracts Recorded Investment Number of Contracts Recorded Investment Real estate mortgage - 1 to 4 family: First mortgages 1 $ 77 - $ - Home equity lines of credit 1 $ 70 1 $ 46 Total 2 $ 147 1 $ 46 |
Risk category of loans by class of loans | As of June 30, 2017 and December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: June 30, 2017 New York and other states: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 139,103 10,142 149,245 Other 20,623 1,719 22,342 $ 159,726 11,861 171,587 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 11,099 - 11,099 Other 349 - 349 $ 11,448 - 11,448 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 150,202 10,142 160,344 Other 20,972 1,719 22,691 $ 171,174 11,861 183,035 December 31, 2016 New York and other states: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 136,676 14,690 151,366 Other 25,442 2,097 27,539 $ 162,118 16,787 178,905 Florida: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 12,243 - 12,243 Other 46 - 46 $ 12,289 - 12,289 Total: (dollars in thousands) Pass Classified Total Commercial: Commercial real estate $ 148,919 14,690 163,609 Other 25,488 2,097 27,585 $ 174,407 16,787 191,194 |
Fair Value of Financial Instr22
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value of Financial Instruments [Abstract] | |
Assets and liabilities measured at fair value on a recurring basis | Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below: Fair Value Measurements at June 30, 2017 Using: Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (dollars in thousands) Securities available for sale: U.S. government sponsored enterprises $ 128,386 $ - $ 128,386 $ - State and political subdivisions 536 - 536 - Corporate bonds 40,498 - 40,498 - Mortgage backed securities and collateralized mortgage obligations - residential 352,591 - 352,591 - Small Business Administration- guaranteed participation securities 72,858 - 72,858 - Mortgage backed securities and collateralized mortgage obligations - commercial 9,903 - 9,903 - Other securities 685 35 650 - Total securities available for sale $ 605,457 $ 35 $ 605,422 $ - 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) (dollars in thousands) Securities available for sale: U.S. government sponsored enterprises $ 117,266 $ - $ 117,266 $ - State and political subdivisions 886 - 886 - Mortgage backed securities and collateralized mortgage obligations - residential 372,308 - 372,308 - Corporate bonds 40,705 - 40,705 - Small Business Administration- guaranteed participation securities 78,499 - 78,499 - Mortgage backed securities and collateralized mortgage obligations - commercial 10,011 - 10,011 - Other securities 685 35 650 - Total securities available for sale $ 620,360 $ 35 $ 620,325 $ - |
Assets measured at fair value on a non-recurring basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at 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) (dollars in thousands) Other real estate owned $ 3,585 $ - $ - $ 3,585 Sales comparison approach Adjustments for differences between comparable sales 2% - 10% (4%) Impaired loans: Real estate mortgage - 1 to 4 family 466 - - 466 Sales comparison approach Adjustments for differences between comparable sales 2% - 5% (4%) 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) Valuation technique Unobservable inputs Range (Weighted Average) (dollars in thousands) Other real estate owned $ 4,268 $ - $ - $ 4,268 Sales comparison approach Adjustments for differences between comparable sales 1% - 14% (7%) Impaired loans: Commercial real estate 1,250 - - 1,250 Sales comparison approach Adjustments for differences between comparable sales 7% - 35% (23%) Real estate mortgage - 1 to 4 family 458 - - 458 Sales comparison approach Adjustments for differences between comparable sales 5% - 14% (10%) |
Carrying amounts and estimated fair values of financial instruments | In accordance with FASB Topic 825, Financial Instruments (dollars in thousands) Fair Value Measurements at Carrying June 30, 2017 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 707,143 707,143 - - 707,143 Securities available for sale 605,457 35 605,422 - 605,457 Held to maturity securities 41,208 - 42,803 - 42,803 Federal Reserve Bank and Federal Home Loan Bank stock 9,723 N/A N/A N/A N/A Net loans 3,463,311 - - 3,471,697 3,471,697 Accrued interest receivable 11,283 238 2,811 8,234 11,283 Financial liabilities: Demand deposits 390,120 390,120 - - 390,120 Interest bearing deposits 3,818,294 2,729,470 1,082,006 - 3,811,476 Short-term borrowings 233,621 - 233,621 - 233,621 Accrued interest payable 462 76 385 - 462 (dollars in thousands) Fair Value Measurements at Carrying December 31, 2016 Using: Value Level 1 Level 2 Level 3 Total Financial assets: Cash and cash equivalents $ 707,274 707,274 - - 707,274 Securities available for sale 620,360 35 620,325 - 620,360 Held to maturity securities 45,490 - 47,526 - 47,526 Federal Reserve Bank and Federal Home Loan Bank stock 9,579 N/A N/A N/A N/A Net loans 3,386,696 - - 3,370,976 3,370,976 Accrued interest receivable 11,070 145 2,654 8,271 11,070 Financial liabilities: Demand deposits 377,755 377,755 - - 377,755 Interest bearing deposits 3,818,408 2,658,945 1,156,025 - 3,814,970 Short-term borrowings 209,406 - 209,406 - 209,406 Accrued interest payable 526 82 444 - 526 |
Accumulated Other Comprehensi23
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Accumulated other comprehensive (loss) income, net of tax | The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax: Three months ended 6/30/17 (dollars in thousands) Balance at 4/1/2017 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Three months ended 6/30/2017 Balance at 6/30/2017 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 ) Three months ended 6/30/2016 (dollars in thousands) Balance at 4/1/2016 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Three months ended 6/30/2016 Balance at 6/30/2016 Net unrealized holding gain (loss) on securities available for sale, net of tax $ 329 2,739 (401 ) 2,338 2,667 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (256 ) - (16 ) (16 ) (272 ) Accumulated other comprehensive income (loss), net of tax 73 2,739 (417 ) 2,322 2,395 Six months ended 6/30/17 (dollars in thousands) Balance at 1/1/2017 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Loss Other Comprehensive Income (loss)- Six months ended 6/30/2017 Balance at 6/30/2017 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 ) Six months ended 6/30/16 (dollars in thousands) Balance at 1/1/2016 Other Comprehensive Income (loss)- Before Reclassifications Amount reclassified from Accumulated Other Comprehensive Income Other Comprehensive Income (loss)- Six months ended 6/30/2016 Balance at 6/30/2016 Net unrealized holding gain (loss) on securities available for sale, net of tax $ (4,492 ) 7,560 (401 ) 7,159 2,667 Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax (289 ) - 17 17 (272 ) Accumulated other comprehensive income (loss), net of tax (4,781 ) 7,560 (384 ) 7,176 2,395 |
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, 2017 and 2016: (dollars in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Affected Line Item in Statements Net unrealized holding gain on securities available for sale Realized gain on securities transactions $ - 668 $ - 668 Net gain on securities transactions Income tax effect - (267 ) - (267 ) Income taxes Net of tax - 401 - 401 Amortization of pension and postretirement benefit items Amortization of net actuarial gain 73 50 136 17 Salaries and employee benefits Amortization of prior service cost (22 ) (22 ) (45 ) (45 ) Salaries and employee benefits Income tax effect (20 ) (12 ) (36 ) 11 Income taxes Net of tax 31 16 55 (17 ) Total reclassifications, net of tax $ 31 417 $ 55 384 |
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, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Reconciliation of the component parts of earnings per share [Abstract] | ||||
Net income | $ 12,240 | $ 10,464 | $ 23,187 | $ 20,875 |
Weighted average common shares (in shares) | 96,003 | 95,487 | 95,944 | 95,426 |
Stock Options (in shares) | 70 | 93 | 90 | 70 |
Weighted average common shares including potential dilutive shares (in shares) | 96,073 | 95,580 | 96,034 | 95,496 |
Basic EPS (in dollars per share) | $ 0.127 | $ 0.110 | $ 0.242 | $ 0.219 |
Diluted EPS (in dollars per share) | $ 0.127 | $ 0.109 | $ 0.241 | $ 0.219 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted average number of antidilutive stock options excluded from diluted earnings per share (in shares) | 412 | 1,600 | 412 | 1,600 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
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 | $ 11 | $ 16 | 22 | $ 31 |
Interest cost | 322 | 349 | 651 | 686 |
Expected return on plan assets | (686) | (681) | (1,372) | (1,325) |
Amortization of net loss (gain) | 10 | 5 | 33 | 92 |
Amortization of prior service cost | 0 | 0 | 0 | 0 |
Net periodic benefit | (343) | (311) | (666) | (516) |
Other Postretirement Benefits [Member] | ||||
Components of net periodic benefit cost [Abstract] | ||||
Service cost | 23 | 32 | 51 | 64 |
Interest cost | 54 | 61 | 110 | 123 |
Expected return on plan assets | (190) | (180) | (381) | (360) |
Amortization of net loss (gain) | (83) | (55) | (169) | (109) |
Amortization of prior service cost | 22 | 22 | 45 | 45 |
Net periodic benefit | $ (174) | $ (120) | $ (344) | $ (237) |
Investment Securities, Availabl
Investment Securities, Available-for-sale Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | $ 612,200 | $ 631,625 |
Gross Unrealized Gains | 261 | 136 |
Gross Unrealized Losses | 7,004 | 11,401 |
Fair Value | 605,457 | 620,360 |
U. S. Government Sponsored Enterprises [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 129,939 | 119,887 |
Gross Unrealized Gains | 71 | 0 |
Gross Unrealized Losses | 1,624 | 2,621 |
Fair Value | 128,386 | 117,266 |
State and Political Subdivisions [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 523 | 873 |
Gross Unrealized Gains | 13 | 13 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 536 | 886 |
Corporate Bonds [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 40,613 | 40,956 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 115 | 251 |
Fair Value | 40,498 | 40,705 |
Mortgage Backed Securities and Collateralized Mortgage Obligations-Residential [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 355,966 | 378,068 |
Gross Unrealized Gains | 177 | 123 |
Gross Unrealized Losses | 3,552 | 5,883 |
Fair Value | 352,591 | 372,308 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 74,514 | 81,026 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,656 | 2,527 |
Fair Value | 72,858 | 78,499 |
Mortgage Backed Securities and Collateralized Mortgage Obligations-Commercial [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 9,960 | 10,130 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 57 | 119 |
Fair Value | 9,903 | 10,011 |
Other [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 650 | 650 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 650 | 650 |
Debt Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 612,165 | 631,590 |
Gross Unrealized Gains | 261 | 136 |
Gross Unrealized Losses | 7,004 | 11,401 |
Fair Value | 605,422 | 620,325 |
Equity Securities [Member] | ||
Amortized cost and fair value of the securities available for sale [Abstract] | ||
Amortized Cost | 35 | 35 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $ 35 | $ 35 |
Investment Securities, Availa27
Investment Securities, Available-for-sale Securities, Maturities (Details) $ in Thousands | Jun. 30, 2017USD ($) |
Amortized Cost [Abstract] | |
Due in one year or less | $ 50,482 |
Due in one year through five years | 111,183 |
Due after five years through ten years | 10,060 |
Due after ten years | 0 |
Amortized Cost | 612,165 |
Fair Value [Abstract] | |
Due in one year or less | 50,397 |
Due in one year through five years | 109,607 |
Due after five years through ten years | 10,066 |
Due after ten years | 0 |
Fair Value | 605,422 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations-Residential [Member] | |
Amortized Cost [Abstract] | |
Securities, amortized cost | 355,966 |
Fair Value [Abstract] | |
Securities, fair value | 352,591 |
Small Business Administration-Guaranteed Participation Securities [Member] | |
Amortized Cost [Abstract] | |
Securities, amortized cost | 74,514 |
Fair Value [Abstract] | |
Securities, fair value | 72,858 |
Mortgage-Backed Securities and Collateralized Mortgage Obligations-Commercial [Member] | |
Amortized Cost [Abstract] | |
Securities, amortized cost | 9,960 |
Fair Value [Abstract] | |
Securities, fair value | $ 9,903 |
Investment Securities, Availa28
Investment Securities, Available-for-sale Securities, Gross Unrealized Loss Position (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | $ 519,159 | $ 577,164 |
12 months or more - Fair Value | 38,765 | 18,653 |
Total - Fair Value | 557,924 | 595,817 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 6,335 | 10,717 |
12 months or more - Gross Unrealized Loss | 669 | 684 |
Total - Gross Unrealized Loss | 7,004 | 11,401 |
U. S. Government Sponsored Enterprises [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 88,286 | 102,266 |
12 months or more - Fair Value | 14,978 | 0 |
Total - Fair Value | 103,264 | 102,266 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 1,602 | 2,621 |
12 months or more - Gross Unrealized Loss | 22 | 0 |
Total - Gross Unrealized Loss | 1,624 | 2,621 |
Mortgage Backed Securities and Collateralized Mortgage Obligations-Residential [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 320,377 | 359,622 |
12 months or more - Fair Value | 11,024 | 4,713 |
Total - Fair Value | 331,401 | 364,335 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 3,361 | 5,766 |
12 months or more - Gross Unrealized Loss | 191 | 117 |
Total - Gross Unrealized Loss | 3,552 | 5,883 |
Corporate Bonds [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 40,498 | 40,705 |
12 months or more - Fair Value | 0 | 0 |
Total - Fair Value | 40,498 | 40,705 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 115 | 251 |
12 months or more - Gross Unrealized Loss | 0 | 0 |
Total - Gross Unrealized Loss | 115 | 251 |
Small Business Administration-Guaranteed Participation Securities [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 60,095 | 64,560 |
12 months or more - Fair Value | 12,763 | 13,940 |
Total - Fair Value | 72,858 | 78,500 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 1,200 | 1,960 |
12 months or more - Gross Unrealized Loss | 456 | 567 |
Total - Gross Unrealized Loss | 1,656 | 2,527 |
Mortgage Backed Securities and Collateralized Mortgage Obligations-Commercial [Member] | ||
Available for sale securities unrealized loss position - Fair Value [Abstract] | ||
Less than 12 months - Fair Value | 9,903 | 10,011 |
12 months or more - Fair Value | 0 | 0 |
Total - Fair Value | 9,903 | 10,011 |
Available for sale securities unrealized loss position - Gross Unrealized Loss [Abstract] | ||
Less than 12 months - Gross Unrealized Loss | 57 | 119 |
12 months or more - Gross Unrealized Loss | 0 | 0 |
Total - Gross Unrealized Loss | $ 57 | $ 119 |
Investment Securities, Availa29
Investment Securities, Available-for-sale Securities, Transaction Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses [Abstract] | ||||
Proceeds from sales | $ 0 | $ 44,829 | $ 0 | $ 44,829 |
Proceeds from calls | 52,799 | 40,808 | 73,569 | 89,721 |
Gross realized gains | 0 | 668 | 0 | 668 |
Gross realized losses | 0 | 0 | $ 0 | 0 |
Income tax expense recognized on net gains on sales and calls of securities available for sale | $ 267 | 267 | ||
Sales of available for sale securities | $ 0 | $ 0 |
Investment Securities, Held-to-
Investment Securities, Held-to-maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | $ 41,208 | $ 45,490 |
Gross Unrecognized Gains | 1,595 | 2,036 |
Gross Unrecognized Losses | 0 | 0 |
Fair Value | 42,803 | 47,526 |
Mortgage Backed Securities and Collateralized Mortgage Obligations-Residential [Member] | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | 31,211 | 35,500 |
Gross Unrecognized Gains | 1,520 | 1,736 |
Gross Unrecognized Losses | 0 | 0 |
Fair Value | 32,731 | 37,236 |
Corporate Bonds [Member] | ||
Amortized cost and fair value of the held to maturity securities [Abstract] | ||
Amortized Cost | 9,997 | 9,990 |
Gross Unrecognized Gains | 75 | 300 |
Gross Unrecognized Losses | 0 | 0 |
Fair Value | $ 10,072 | $ 10,290 |
Investment Securities, Held-t31
Investment Securities, Held-to-maturity Securities, Maturity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Investment Securities [Abstract] | |||||
Sales and transfers of held to maturity securities | $ 0 | $ 0 | $ 0 | $ 0 | |
Amortized Cost [Abstract] | |||||
Due in one year or less | 9,997 | 9,997 | |||
Amortized Cost | 41,208 | 41,208 | $ 45,490 | ||
Fair Value [Abstract] | |||||
Due in one year or less | 10,172 | 10,172 | |||
Fair Value | 42,803 | 42,803 | 47,526 | ||
Mortgage-Backed Securities and Collateralized Mortgage Obligations-Residential [Member] | |||||
Amortized Cost [Abstract] | |||||
Securities, amortized cost | 31,211 | 31,211 | |||
Amortized Cost | 31,211 | 31,211 | 35,500 | ||
Fair Value [Abstract] | |||||
Securities, fair value | 32,731 | 32,731 | |||
Fair Value | $ 32,731 | $ 32,731 | $ 37,236 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | $ 3,507,473 | $ 3,430,586 | |||||
Less: Allowance for loan losses | 44,162 | $ 44,048 | 43,890 | $ 44,064 | $ 44,398 | $ 44,762 | |
Net loans | 3,463,311 | 3,386,696 | |||||
New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 2,722,593 | 2,692,335 | ||||
Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 784,880 | 738,251 | |||||
Real Estate Construction Loans [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 23,800 | 24,800 | |||||
Residential Borrowers [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 14,600 | 16,300 | |||||
Commercial Borrowers Residential Purpose [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 9,200 | 8,500 | |||||
Commercial [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 183,035 | 191,194 | |||||
Less: Allowance for loan losses | 4,596 | 4,810 | 4,929 | 5,046 | 4,919 | 4,491 | |
Commercial [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 171,587 | 178,905 | |||||
Commercial [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 11,448 | 12,289 | |||||
Commercial [Member] | Commercial Real Estate [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 160,344 | 163,609 | |||||
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 149,245 | 151,366 | ||||
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 11,099 | 12,243 | |||||
Commercial [Member] | Other [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 22,691 | 27,585 | |||||
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 22,342 | 27,539 | ||||
Commercial [Member] | Other [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 349 | 46 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 3,315,980 | 3,230,574 | |||||
Less: Allowance for loan losses | 38,871 | 38,581 | 38,231 | 38,589 | 39,017 | 39,753 | |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 2,922,438 | 2,824,087 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 2,208,078 | 2,158,904 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 714,360 | 665,183 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 76,868 | 71,646 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 64,387 | 60,892 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 12,481 | 10,754 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 316,674 | 334,841 | |||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 271,480 | 286,586 | ||||
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 45,194 | 48,255 | |||||
Installment [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | 8,458 | 8,818 | |||||
Less: Allowance for loan losses | 695 | $ 657 | 730 | $ 429 | $ 462 | $ 518 | |
Installment [Member] | New York and Other States [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | [1] | 7,061 | 7,048 | ||||
Installment [Member] | Florida [Member] | |||||||
Loans and Leases Receivable, Net Amount [Abstract] | |||||||
Total loans, net | $ 1,397 | $ 1,770 | |||||
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses, Non-accrual Loans, By Loan Class (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | $ 24,487 | $ 25,018 |
Restructured real estate mortgages - 1 to 4 family | 41 | 42 |
Total nonperforming loans | 24,528 | 25,060 |
Other real estate owned | 2,900 | 3,500 |
New York and Other States [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 22,375 | 23,089 |
Restructured real estate mortgages - 1 to 4 family | 41 | 42 |
Total nonperforming loans | 22,416 | 23,131 |
Florida [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 2,112 | 1,929 |
Restructured real estate mortgages - 1 to 4 family | 0 | 0 |
Total nonperforming loans | 2,112 | 1,929 |
Residential Real Estate [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Non accrual residential mortgage loans in the process of foreclosure | 11,100 | 12,500 |
Commercial [Member] | Commercial Real Estate [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 1,611 | 1,843 |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 1,611 | 1,843 |
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 | 100 | 0 |
Commercial [Member] | Other [Member] | New York and Other States [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 100 | 0 |
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 | 19,048 | 19,386 |
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 | 17,178 | 17,727 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 1,870 | 1,659 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 48 | 95 |
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 | 48 | 95 |
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 | 3,655 | 3,646 |
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 | 3,413 | 3,376 |
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 | 242 | 270 |
Installment [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 25 | 48 |
Installment [Member] | New York and Other States [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | 25 | 48 |
Installment [Member] | Florida [Member] | ||
Non accrual loans by loan class [Abstract] | ||
Total non-accrual loans | $ 0 | $ 0 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses, Past Due (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | ||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | $ 22,343 | $ 27,065 | |
Current | 3,485,130 | 3,403,521 | |
Total loans | 3,507,473 | 3,430,586 | |
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 | $ 20,435 | $ 23,588 | |
Current | 2,702,158 | 2,668,747 | |
Total loans | [1] | 2,722,593 | 2,692,335 |
Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 1,908 | 3,477 | |
Current | 782,972 | 734,774 | |
Total loans | 784,880 | 738,251 | |
30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 5,686 | 9,189 | |
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 | 4,836 | 7,198 | |
30-59 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 850 | 1,991 | |
60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 2,884 | 3,188 | |
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 | 2,754 | 3,113 | |
60-89 Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 130 | 75 | |
90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 13,773 | 14,688 | |
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 | 12,845 | 13,277 | |
90+ Days Past Due [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 928 | 1,411 | |
Commercial [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 183,035 | 191,194 | |
Commercial [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 171,587 | 178,905 | |
Commercial [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total loans | 11,448 | 12,289 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 1,656 | 1,799 | |
Current | 158,688 | 161,810 | |
Total loans | 160,344 | 163,609 | |
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 | 1,656 | 1,799 | |
Current | 147,589 | 149,567 | |
Total loans | [1] | 149,245 | 151,366 |
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 | 11,099 | 12,243 | |
Total loans | 11,099 | 12,243 | |
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 | 133 | 50 | |
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 | 133 | 50 | |
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 | 0 | 43 | |
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 | 0 | 43 | |
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 | 1,523 | 1,706 | |
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 | 1,523 | 1,706 | |
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 | 100 | 0 | |
Current | 22,591 | 27,585 | |
Total loans | 22,691 | 27,585 | |
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 | 100 | 0 | |
Current | 22,242 | 27,539 | |
Total loans | [1] | 22,342 | 27,539 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 0 | 0 | |
Current | 349 | 46 | |
Total loans | 349 | 46 | |
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 | 0 | 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 | 0 | 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 | 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 | 0 | |
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 | 100 | 0 | |
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 | 3,315,980 | 3,230,574 | |
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 | 16,997 | 22,212 | |
Current | 2,905,441 | 2,801,875 | |
Total loans | 2,922,438 | 2,824,087 | |
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 | 15,204 | 18,946 | |
Current | 2,192,874 | 2,139,958 | |
Total loans | [1] | 2,208,078 | 2,158,904 |
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 | 1,793 | 3,266 | |
Current | 712,567 | 661,917 | |
Total loans | 714,360 | 665,183 | |
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 | 4,790 | 8,321 | |
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 | 3,997 | 6,379 | |
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 | 793 | 1,942 | |
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 | 2,173 | 2,993 | |
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 | 2,101 | 2,924 | |
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 | 72 | 69 | |
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 | 10,034 | 10,898 | |
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 | 9,106 | 9,643 | |
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 | 928 | 1,255 | |
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 | 218 | 146 | |
Current | 76,650 | 71,500 | |
Total loans | 76,868 | 71,646 | |
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 | 165 | 127 | |
Current | 64,222 | 60,765 | |
Total loans | [1] | 64,387 | 60,892 |
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 | 53 | 19 | |
Current | 12,428 | 10,735 | |
Total loans | 12,481 | 10,754 | |
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 | 107 | 69 | |
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 | 107 | 50 | |
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 | 0 | 19 | |
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 | 93 | 3 | |
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 | 40 | 3 | |
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 | 53 | 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 | 18 | 74 | |
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 | 18 | 74 | |
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 | 3,280 | 2,791 | |
Current | 313,394 | 332,050 | |
Total loans | 316,674 | 334,841 | |
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 | 3,230 | 2,635 | |
Current | 268,250 | 283,951 | |
Total loans | [1] | 271,480 | 286,586 |
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 | 50 | 156 | |
Current | 45,144 | 48,099 | |
Total loans | 45,194 | 48,255 | |
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 | 604 | 685 | |
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 | 554 | 685 | |
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 | 50 | 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 | 600 | 111 | |
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 | 600 | 111 | |
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 | 2,076 | 1,995 | |
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 | 2,076 | 1,839 | |
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 | 0 | 156 | |
Installment [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 92 | 117 | |
Current | 8,366 | 8,701 | |
Total loans | 8,458 | 8,818 | |
Installment [Member] | New York and Other States [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 80 | 81 | |
Current | 6,981 | 6,967 | |
Total loans | [1] | 7,061 | 7,048 |
Installment [Member] | Florida [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 12 | 36 | |
Current | 1,385 | 1,734 | |
Total loans | 1,397 | 1,770 | |
Installment [Member] | 30-59 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 52 | 64 | |
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 | 45 | 34 | |
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 | 7 | 30 | |
Installment [Member] | 60-89 Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 18 | 38 | |
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 | 13 | 32 | |
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 | 6 | |
Installment [Member] | 90+ Days Past Due [Member] | |||
Aging of the recorded investment in past due loans [Abstract] | |||
Total 30+ days Past Due | 22 | 15 | |
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 | 22 | 15 | |
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 | $ 0 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses, Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | $ 44,048 | $ 44,398 | $ 43,890 | $ 44,762 |
Loans charged off [Abstract] | ||||
Total loan charge offs | 627 | 1,268 | 1,256 | 2,602 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 191 | 134 | 378 | 304 |
Net loans charged off | 436 | 1,134 | 878 | 2,298 |
Provision (credit) for loan losses | 550 | 800 | 1,150 | 1,600 |
Balance at end of period | 44,162 | 44,064 | 44,162 | 44,064 |
New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 562 | 1,250 | 1,105 | 2,484 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 191 | 133 | 378 | 302 |
Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 65 | 18 | 151 | 118 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 1 | 0 | 2 |
Commercial [Member] | ||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | 4,810 | 4,919 | 4,929 | 4,491 |
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 68 | 72 | 332 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 1 | 8 | 41 |
Net loans charged off | 0 | 67 | 64 | 291 |
Provision (credit) for loan losses | (214) | 194 | (269) | 846 |
Balance at end of period | 4,596 | 5,046 | 4,596 | 5,046 |
Commercial [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 0 | 68 | 72 | 332 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 1 | 8 | 41 |
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 | 38,581 | 39,017 | 38,231 | 39,753 |
Loans charged off [Abstract] | ||||
Total loan charge offs | 574 | 1,107 | 1,088 | 2,080 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 188 | 118 | 357 | 237 |
Net loans charged off | 386 | 989 | 731 | 1,843 |
Provision (credit) for loan losses | 676 | 561 | 1,371 | 679 |
Balance at end of period | 38,871 | 38,589 | 38,871 | 38,589 |
Real Estate Mortgage - 1 to 4 Family [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 522 | 1,090 | 952 | 1,979 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 188 | 117 | 357 | 235 |
Real Estate Mortgage - 1 to 4 Family [Member] | Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 52 | 17 | 136 | 101 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 0 | 1 | 0 | 2 |
Installment [Member] | ||||
Allowance for loan losses by portfolio segment [Roll Forward] | ||||
Balance at beginning of period | 657 | 462 | 730 | 518 |
Loans charged off [Abstract] | ||||
Total loan charge offs | 53 | 93 | 96 | 190 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 3 | 15 | 13 | 26 |
Net loans charged off | 50 | 78 | 83 | 164 |
Provision (credit) for loan losses | 88 | 45 | 48 | 75 |
Balance at end of period | 695 | 429 | 695 | 429 |
Installment [Member] | New York and Other States [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 40 | 92 | 81 | 173 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | 3 | 15 | 13 | 26 |
Installment [Member] | Florida [Member] | ||||
Loans charged off [Abstract] | ||||
Total loan charge offs | 13 | 1 | 15 | 17 |
Recoveries of loans previously charged off [Abstract] | ||||
Total recoveries | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses, Based on Impairment Review Method (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | $ 0 | $ 0 | ||||
Collectively evaluated for impairment | 44,162 | 43,890 | ||||
Total ending allowance balance | 44,162 | $ 44,048 | 43,890 | $ 44,064 | $ 44,398 | $ 44,762 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 25,790 | 24,025 | ||||
Collectively evaluated for impairment | 3,481,683 | 3,406,561 | ||||
Total loans | 3,507,473 | 3,430,586 | ||||
Commercial [Member] | ||||||
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 4,596 | 4,929 | ||||
Total ending allowance balance | 4,596 | 4,810 | 4,929 | 5,046 | 4,919 | 4,491 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 4,008 | 2,418 | ||||
Collectively evaluated for impairment | 179,027 | 188,776 | ||||
Total loans | 183,035 | 191,194 | ||||
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 | 38,871 | 38,231 | ||||
Total ending allowance balance | 38,871 | 38,581 | 38,231 | 38,589 | 39,017 | 39,753 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 21,782 | 21,607 | ||||
Collectively evaluated for impairment | 3,294,198 | 3,208,967 | ||||
Total loans | 3,315,980 | 3,230,574 | ||||
Installment [Member] | ||||||
Ending allowance balance attributable to loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 695 | 730 | ||||
Total ending allowance balance | 695 | $ 657 | 730 | $ 429 | $ 462 | $ 518 |
Loans [Abstract] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 8,458 | 8,818 | ||||
Total loans | $ 8,458 | $ 8,818 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses, Impaired Receivables (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired loans by loans class [Abstract] | ||
Recorded Investment | $ 25,790 | $ 24,025 |
Unpaid Principal Balance | 27,890 | 26,201 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 25,100 | 22,408 |
New York and Other States [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 22,665 | 21,361 |
Unpaid Principal Balance | 24,601 | 23,374 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 22,251 | 19,936 |
Florida [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 3,125 | 2,664 |
Unpaid Principal Balance | 3,289 | 2,827 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,849 | 2,472 |
Commercial [Member] | Commercial Real Estate [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 3,908 | 2,418 |
Unpaid Principal Balance | 4,955 | 3,470 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,883 | 2,214 |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 3,908 | 2,418 |
Unpaid Principal Balance | 4,955 | 3,470 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,883 | 2,214 |
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 | 100 | 0 |
Unpaid Principal Balance | 100 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 100 | 0 |
Commercial [Member] | Other [Member] | New York and Other States [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 100 | 0 |
Unpaid Principal Balance | 100 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 100 | 0 |
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 | 18,796 | 18,684 |
Unpaid Principal Balance | 19,557 | 19,539 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 19,116 | 17,465 |
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 | 16,350 | 16,675 |
Unpaid Principal Balance | 17,019 | 17,439 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 16,939 | 15,665 |
Real Estate Mortgage - 1 to 4 Family [Member] | First Mortgages [Member] | Florida [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 2,446 | 2,009 |
Unpaid Principal Balance | 2,538 | 2,100 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,177 | 1,800 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 357 | 363 |
Unpaid Principal Balance | 393 | 399 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 363 | 332 |
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 | 265 | 269 |
Unpaid Principal Balance | 301 | 305 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 270 | 251 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 92 | 94 |
Unpaid Principal Balance | 92 | 94 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 93 | 81 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 2,629 | 2,560 |
Unpaid Principal Balance | 2,885 | 2,793 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,639 | 2,397 |
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 | 2,042 | 1,999 |
Unpaid Principal Balance | 2,226 | 2,160 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,060 | 1,806 |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Lines of Credit [Member] | Florida [Member] | ||
Impaired loans by loans class [Abstract] | ||
Recorded Investment | 587 | 561 |
Unpaid Principal Balance | 659 | 633 |
Related Allowance | 0 | 0 |
Average Recorded Investment | $ 579 | $ 591 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Dec. 31, 2016USD ($) | |
Financing Receivable, Modifications [Line Items] | |||||
TDR's classifications from previously performing loans | $ 14,000 | $ 14,000 | $ 11,500 | ||
New York and Other States [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 11 | 15 | 27 | 31 | |
Pre-Modification Outstanding Recorded Investment | $ 1,848 | $ 819 | $ 3,966 | $ 1,964 | |
Post-Modification Outstanding Recorded Investment | $ 1,848 | $ 819 | $ 3,966 | $ 1,964 | |
Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 4 | 3 | 6 | 5 | |
Pre-Modification Outstanding Recorded Investment | $ 387 | $ 350 | $ 537 | $ 577 | |
Post-Modification Outstanding Recorded Investment | $ 387 | $ 350 | $ 537 | $ 577 | |
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 | 3 | 0 | 3 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 747 | $ 0 | $ 747 | $ 0 | |
Post-Modification Outstanding Recorded Investment | $ 747 | $ 0 | $ 747 | $ 0 | |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 0 | 0 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 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 | 7 | 10 | 18 | 22 | |
Pre-Modification Outstanding Recorded Investment | $ 1,098 | $ 753 | $ 3,045 | $ 1,807 | |
Post-Modification Outstanding Recorded Investment | $ 1,098 | $ 753 | $ 3,045 | $ 1,807 | |
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 | 4 | 1 | 5 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 387 | $ 298 | $ 467 | $ 525 | |
Post-Modification Outstanding Recorded Investment | $ 387 | $ 298 | $ 467 | $ 525 | |
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 | 0 | 0 | 1 | 0 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 13 | $ 0 | |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 13 | $ 0 | |
Real Estate Mortgage - 1 to 4 Family [Member] | Home Equity Loans [Member] | Florida [Member] | |||||
Modified loans by class determined to be TDR's [Abstract] | |||||
Number of Contracts | Contract | 0 | 1 | 0 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 46 | $ 0 | $ 46 | |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 46 | $ 0 | $ 46 | |
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 | 5 | 5 | 9 | |
Pre-Modification Outstanding Recorded Investment | $ 3 | $ 66 | $ 161 | $ 157 | |
Post-Modification Outstanding Recorded Investment | $ 3 | $ 66 | $ 161 | $ 157 | |
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 | 1 | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 6 | $ 70 | $ 6 | |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 6 | $ 70 | $ 6 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses, Modified Loans Payment Status (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)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 | 1 | 1 | 4 |
Recorded Investment | $ | $ 3 | $ 107 | $ 3 | $ 316 |
Florida [Member] | ||||
Loans modified for which there was payment default [Abstract] | ||||
Number of Contracts | Contract | 0 | 1 | 2 | 1 |
Recorded Investment | $ | $ 0 | $ 46 | $ 147 | $ 46 |
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 | 0 | 1 | 0 | 3 |
Recorded Investment | $ | $ 0 | $ 107 | $ 0 | $ 268 |
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 | 0 |
Recorded Investment | $ | $ 0 | $ 46 | $ 77 | $ 0 |
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 | 0 | 1 | ||
Recorded Investment | $ | $ 0 | $ 48 | ||
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 | 0 |
Recorded Investment | $ | $ 3 | $ 0 | $ 3 | $ 0 |
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 | 1 | 1 | ||
Recorded Investment | $ | $ 70 | $ 46 |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses, Risk Category of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | $ 3,507,473 | $ 3,430,586 | |
Non-accrual loans included in classified loans | 1,700 | 1,800 | |
New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | [1] | 2,722,593 | 2,692,335 |
Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 784,880 | 738,251 | |
Commercial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 183,035 | 191,194 | |
Commercial [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 171,587 | 178,905 | |
Commercial [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,448 | 12,289 | |
Commercial [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 171,174 | 174,407 | |
Commercial [Member] | Pass [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 159,726 | 162,118 | |
Commercial [Member] | Pass [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,448 | 12,289 | |
Commercial [Member] | Classified [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,861 | 16,787 | |
Commercial [Member] | Classified [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,861 | 16,787 | |
Commercial [Member] | Classified [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 0 | 0 | |
Commercial [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 160,344 | 163,609 | |
Commercial [Member] | Commercial Real Estate [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | [1] | 149,245 | 151,366 |
Commercial [Member] | Commercial Real Estate [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,099 | 12,243 | |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 150,202 | 148,919 | |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 139,103 | 136,676 | |
Commercial [Member] | Commercial Real Estate [Member] | Pass [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 11,099 | 12,243 | |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 10,142 | 14,690 | |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 10,142 | 14,690 | |
Commercial [Member] | Commercial Real Estate [Member] | Classified [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 0 | 0 | |
Commercial [Member] | Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 22,691 | 27,585 | |
Commercial [Member] | Other [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | [1] | 22,342 | 27,539 |
Commercial [Member] | Other [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 349 | 46 | |
Commercial [Member] | Other [Member] | Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 20,972 | 25,488 | |
Commercial [Member] | Other [Member] | Pass [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 20,623 | 25,442 | |
Commercial [Member] | Other [Member] | Pass [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 349 | 46 | |
Commercial [Member] | Other [Member] | Classified [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 1,719 | 2,097 | |
Commercial [Member] | Other [Member] | Classified [Member] | New York and Other States [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | 1,719 | 2,097 | |
Commercial [Member] | Other [Member] | Classified [Member] | Florida [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total loans, net | $ 0 | $ 0 | |
[1] | Includes New York, New Jersey, Vermont and Massachusetts. |
Fair Value of Financial Instr41
Fair Value of Financial Instruments, Part 1 (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Securities available for sale [Abstract] | |||
Total securities available for sale | $ 605,457 | $ 620,360 | |
Fair value assets transfers from Level 1 to Level 2 | 0 | $ 0 | |
Fair value assets transfers from Level 2 to Level 1 | 0 | $ 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Securities available for sale [Abstract] | |||
Total securities available for sale | 35 | 35 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Securities available for sale [Abstract] | |||
Total securities available for sale | 605,422 | 620,325 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Securities available for sale [Abstract] | |||
Total securities available for sale | 0 | 0 | |
Carrying Value [Member] | |||
Securities available for sale [Abstract] | |||
Total securities available for sale | 605,457 | 620,360 | |
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 | |
Mortgage backed securities and collateralized mortgage obligations - commercial | 0 | 0 | |
Other securities | 35 | 35 | |
Total securities available for sale | 35 | 35 | |
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||
Securities available for sale [Abstract] | |||
U.S. government sponsored enterprises | 128,386 | 117,266 | |
State and political subdivisions | 536 | 886 | |
Corporate bonds | 40,498 | 40,705 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 352,591 | 372,308 | |
Small Business Administration - guaranteed participation securities | 72,858 | 78,499 | |
Mortgage backed securities and collateralized mortgage obligations - commercial | 9,903 | 10,011 | |
Other securities | 650 | 650 | |
Total securities available for sale | 605,422 | 620,325 | |
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 | |
Mortgage backed securities and collateralized mortgage obligations - commercial | 0 | 0 | |
Other securities | 0 | 0 | |
Total securities available for sale | 0 | 0 | |
Recurring [Member] | Carrying Value [Member] | |||
Securities available for sale [Abstract] | |||
U.S. government sponsored enterprises | 128,386 | 117,266 | |
State and political subdivisions | 536 | 886 | |
Corporate bonds | 40,498 | 40,705 | |
Mortgage backed securities and collateralized mortgage obligations - residential | 352,591 | 372,308 | |
Small Business Administration - guaranteed participation securities | 72,858 | 78,499 | |
Mortgage backed securities and collateralized mortgage obligations - commercial | 9,903 | 10,011 | |
Other securities | 685 | 685 | |
Total securities available for sale | $ 605,457 | $ 620,360 |
Fair Value of Financial Instr42
Fair Value of Financial Instruments, Part 2 (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | |
Impaired loans [Abstract] | |||
Other real estate owned, commercial real estate | $ 707 | $ 707 | $ 756,000 |
Other real estate owned, residential real estate properties | 2,900 | 2,900 | 3,500 |
Valuation charge on other real estate owned | 174 | 362 | 1,200 |
Impaired loans | 25,790 | 25,790 | 24,025 |
Collateral dependent impaired loans | 466 | 466 | 1,700 |
Gross charge offs, commercial impaired loans | 482 | ||
Gross charge offs, residential impaired loans | 10 | $ 26 | $ 226 |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Other Real Estate Owned [Member] | |||
Impaired loans [Abstract] | |||
Unobservable inputs | Adjustments for differences between comparable sales | Adjustments for differences between comparable sales | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Other Real Estate Owned [Member] | Minimum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 2.00% | 1.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Other Real Estate Owned [Member] | Maximum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 10.00% | 14.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 4.00% | 7.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | |||
Impaired loans [Abstract] | |||
Unobservable inputs | Adjustments for differences between comparable sales | Adjustments for differences between comparable sales | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Minimum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 2.00% | 5.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Maximum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 5.00% | 14.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Real Estate Mortgage - 1 to 4 Family [Member] | Weighted Average [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 4.00% | 10.00% | |
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Commercial Real Estate [Member] | |||
Impaired loans [Abstract] | |||
Unobservable inputs | Adjustments for differences between comparable sales | ||
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Commercial Real Estate [Member] | Minimum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 7.00% | ||
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Commercial Real Estate [Member] | Maximum [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 35.00% | ||
Nonrecurring [Member] | Sales Comparison Approach [Member] | Impaired Loan [Member] | Commercial Real Estate [Member] | Weighted Average [Member] | |||
Impaired loans [Abstract] | |||
Adjustments for differences between comparable sales | 23.00% | ||
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | 0 | $ 0 | $ 0 |
Impaired loans [Abstract] | |||
Commercial real estate | 0 | ||
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 owned | 0 | 0 | 0 |
Impaired loans [Abstract] | |||
Commercial real estate | 0 | ||
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 owned | 3,585 | 3,585 | 4,268 |
Impaired loans [Abstract] | |||
Commercial real estate | 1,250 | ||
Real estate mortgage - 1 to 4 family | 466 | 466 | 458 |
Nonrecurring [Member] | Carrying Value [Member] | |||
Assets measured at fair value on a non-recurring basis [Abstract] | |||
Other real estate owned | 3,585 | 3,585 | 4,268 |
Impaired loans [Abstract] | |||
Commercial real estate | 1,250 | ||
Real estate mortgage - 1 to 4 family | $ 466 | $ 466 | $ 458 |
Fair Value of Financial Instr43
Fair Value of Financial Instruments, Part 3 (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Financial assets [Abstract] | ||||
Cash and cash equivalents | $ 707,143 | $ 707,274 | $ 758,396 | $ 718,156 |
Securities available for sale | 605,457 | 620,360 | ||
Held to maturity securities | 42,803 | 47,526 | ||
Net loans | 3,471,697 | 3,370,976 | ||
Accrued interest receivable | 11,283 | 11,070 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 390,120 | 377,755 | ||
Interest bearing deposits | 3,811,476 | 3,814,970 | ||
Short-term borrowings | 233,621 | 209,406 | ||
Accrued interest payable | 462 | 526 | ||
Level 1 [Member] | ||||
Financial assets [Abstract] | ||||
Cash and cash equivalents | 707,143 | 707,274 | ||
Securities available for sale | 35 | 35 | ||
Held to maturity securities | 0 | 0 | ||
Net loans | 0 | 0 | ||
Accrued interest receivable | 238 | 145 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 390,120 | 377,755 | ||
Interest bearing deposits | 2,729,470 | 2,658,945 | ||
Short-term borrowings | 0 | 0 | ||
Accrued interest payable | 76 | 82 | ||
Level 2 [Member] | ||||
Financial assets [Abstract] | ||||
Cash and cash equivalents | 0 | 0 | ||
Securities available for sale | 605,422 | 620,325 | ||
Held to maturity securities | 42,803 | 47,526 | ||
Net loans | 0 | 0 | ||
Accrued interest receivable | 2,811 | 2,654 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 0 | 0 | ||
Interest bearing deposits | 1,082,006 | 1,156,025 | ||
Short-term borrowings | 233,621 | 209,406 | ||
Accrued interest payable | 385 | 444 | ||
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 | 3,471,697 | 3,370,976 | ||
Accrued interest receivable | 8,234 | 8,271 | ||
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 | 707,143 | 707,274 | ||
Securities available for sale | 605,457 | 620,360 | ||
Held to maturity securities | 41,208 | 45,490 | ||
Federal Reserve Bank and Federal Home Loan Bank stock | 9,723 | 9,579 | ||
Net loans | 3,463,311 | 3,386,696 | ||
Accrued interest receivable | 11,283 | 11,070 | ||
Financial liabilities [Abstract] | ||||
Demand deposits | 390,120 | 377,755 | ||
Interest bearing deposits | 3,818,294 | 3,818,408 | ||
Short-term borrowings | 233,621 | 209,406 | ||
Accrued interest payable | $ 462 | $ 526 |
Accumulated Other Comprehensi44
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | $ 432,686 | $ 413,310 | ||
Other comprehensive income (loss) - before reclassifications | $ 2,006 | $ 2,739 | 2,713 | 7,560 |
Amount reclassified from accumulated other comprehensive income | (31) | (417) | (55) | (384) |
Other comprehensive income, net of tax | 1,975 | 2,322 | 2,658 | 7,176 |
Balance | 447,366 | 430,265 | 447,366 | 430,265 |
AOCI Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (5,568) | 73 | (6,251) | (4,781) |
Other comprehensive income, net of tax | 2,658 | 7,176 | ||
Balance | (3,593) | 2,395 | (3,593) | 2,395 |
Net Unrealized Holding Gain (Loss) on Securities Available for Sale, Net of Tax [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (6,055) | 329 | (6,762) | (4,492) |
Other comprehensive income (loss) - before reclassifications | 2,006 | 2,739 | 2,713 | 7,560 |
Amount reclassified from accumulated other comprehensive income | 0 | (401) | 0 | (401) |
Other comprehensive income, net of tax | 2,006 | 2,338 | 2,713 | 7,159 |
Balance | (4,049) | 2,667 | (4,049) | 2,667 |
Net Change in Net Actuarial Gain and Prior Service Cost on Pension and Postretirement Benefit Plans, Net of Tax [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | 487 | (256) | 511 | (289) |
Other comprehensive income (loss) - before reclassifications | 0 | 0 | 0 | 0 |
Amount reclassified from accumulated other comprehensive income | (31) | (16) | (55) | 17 |
Other comprehensive income, net of tax | (31) | (16) | (55) | 17 |
Balance | $ 456 | $ (272) | $ 456 | $ (272) |
Accumulated Other Comprehensi45
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, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain on securities transactions | $ 0 | $ 668 | $ 0 | $ 668 |
Salaries and employee benefits | 9,559 | 8,934 | 19,769 | 17,937 |
Income tax effect | 7,342 | 6,260 | 13,903 | 12,366 |
Net income | 12,240 | 10,464 | 23,187 | 20,875 |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income | 31 | 417 | 55 | 384 |
Net Unrealized Holding Gain on Securities Available for Sale [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net gain on securities transactions | 0 | 668 | 0 | 668 |
Income tax effect | 0 | (267) | 0 | (267) |
Net income | 0 | 401 | 0 | 401 |
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 [Line Items] | ||||
Income tax effect | (20) | (12) | (36) | 11 |
Net income | 31 | 16 | 55 | (17) |
Amortization of Net Actuarial Gain [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Salaries and employee benefits | 73 | 50 | 136 | 17 |
Amortization of Prior Service Cost [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Reclassification Adjustment Out of Accumulated Other Comprehensive Income [Line Items] | ||||
Salaries and employee benefits | $ (22) | $ (22) | $ (45) | $ (45) |
Agreement with the Office of 46
Agreement with the Office of the Comptroller of the Currency (Details) | Jul. 21, 2015Director |
Agreement with the Office of the Comptroller of the Currency [Abstract] | |
Minimum number of directors to establishment a committee | 3 |
New Accounting Pronouncements (
New Accounting Pronouncements (Details) $ in Millions | Dec. 31, 2016USD ($) |
ASU 2016-02 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Minimum lease payments | $ 69.7 |